CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into at _________________,

Philippines, by and between:

__________________________________ , of legal age, married, Filipino citizen,

and a resident of __________________, Philippines hereinafter referred to as
the LESSOR;

—AND—

_______________________________________, of legal age, single, Filipino

citizen and a resident of ____________________________ hereinafter referred
to as the LESSEE.

WITNESSETH:

WHEREAS, the Lessor is the lawful and absolute owner of the

____________________________ at __________________________;

WHEREAS, the LESSEE desires to lease

__________________________ of the ____________________________,
hereinafter referred to as the LEASED PREMISES;

NOW, THEREFORE, for and in consideration of the foregoing, the

parties have agreed, as they hereby agree, to be bound by the following
terms and conditions stipulated therein, to wit:

1. That the term of this contract shall be for a period of ONE YEAR
and is effective from ______________________ with escalation of
5 % per annum subject to negotiation between the parties;

2. That the agreed monthly rental is ___________________________

(Php ________.00) Philippine currency;

3. That the LESSEE shall, upon the signing of this contract, pay the
sum of _________________________ (Php__________00)
Philippine currency, representing TWO MONTHS (2) advance rental
and ONE (1) month deposit;

4. That during the period of this CONTRACT OF LEASE, the LESSEE

shall have the right to improve and put up fixtures in the LEASED
PREMISES as maybe needed by its business but upon consent and
 conformity of the LESSOR with the understanding that all
improvements so introduced shall form part of the LEASED
PREMISES upon the termination of LEASE, for any cause
whatsoever without any obligation on the part of the LESSOR to
reimburse the costs, expenses or value of such and, provided
further, that the improvement introduced shall conform with the
laws, regulations or ordinances of the National and city
government;

5. That the LESSEE shall pay the rent at the beginning of each month
after two months from the signing of this LEASE CONTRACT or at
every 30 days after he commences his actual business operations,
whichever is earlier;

6. That the LESSEE shall pay for all his utility bills;

7. That at anytime at the instance of the LESSEE, he may apply for the
separation of the connection of the utilities such as electricity and
water and other utility of the rented premises;

8. That the LESSEE shall properly use the LEASED PREMISES and shall
be responsible for the repair and maintenance of the same, as
regards to ordinary wear and tear, at his own expense, maintaining
the premises in good and clean condition;

9. That it is hereby acknowledged by the LESSEE that the LEASED

PREMISES is in good condition and that all damages in the same,
during the term of the lease, shall be repaired at his own expense
except for damages brought about by structural defects and
natural disasters;

10. That the LESSEE shall observe the laws on health, fire, police
matters and shall bear the expenses that maybe required thereof;

11. That the LESSEE shall not sub- lease the premises or transfer rights
obtained under this contract to any person;

12. That the LESSEE undertakes to report to the LESSOR any matter of
activity that may disturb the ownership of the Lessor over the said
property;
13. That the LESSEE warrants the LESSOR to be free from any legal
action/litigations from any third party that may arise in the future
from the use of the LEASED PREMISES;

14. That upon the expiration of the term of this contract, there shall
be a renegotiation of the stipulations herein greed upon;

15. That the Lessor hereby warrants the peaceful possession and
enjoyment of the Lessee of the leased properties;

16. That this contract, including the terms and conditions hereof as
herein stipulated, shall not be changed, altered or notated except
in writing and signed by both of the parties herein.

17. That the LESSEE shall furnish the LESSOR a copy of BIR Form No.
2307 duly acknowledged by the local BIR office every quarter of
each year;

18. That all special installations required by the LESSEE for electrical
appliances shall be at the expense of the LESSEE but with the
consent and conformity of the LESSOR;

19. That the LESSEE is forbidden, at any time, to store fire hazardous
materials and for materials other than those used by the business
of the LESSEE, the consent of the LESSOR must be obtained in
advance;

20.That the LESSEE shall not use the LEASED PREMISES for any other
business purposes except that which is applied for, without the
prior approval by the LESSOR;

21. That the lessor and/ or his authorized representatives shall have
the right to enter the premises at any reasonable time during
office hours for the purposes of inspecting or verifying whether
the premises and its facilities are properly used, maintained and
cared for and for repair purposes;

22. That the LESSEE warrants the LESSOR to be free from any legal
action/litigations from any third party that may arise in the future
from the use of the LEASED PREMISES;
 23. That in the case of violation of any terms and conditions of this
contract by the LESSEE, the LESSOR has the right to terminate this
contract and if the LESSOR is compelled to secure the services of a
lawyer for the protection of his rights, the LESSEE shall pay the
LESSOR the amount of which the latter has spent for attorney’s
fees and damages he suffered;

24. That should the LESSEE choose to pre-terminate this contract, he

shall notify the LESSOR not later than two (2) months before the
intended pre-termination date. And since security deposit is
waived, there will be a penalty of
_______________________________ ( Php _________.00) and
damages to the building or structure of the leased area shall be
repaired by the Lessee or shall be repaired by the Lessor and paid
by the Lessee. The repair shall be done one (1) month from the
time of vacating the leased premise;

25. That should the LESSEE choose to renew this CONTRACT OF

LEASE, he shall notify the LESSOR in advance not later than 3
months before the expiration of the same;

26.That should the LESSEE choose not to renew this CONTRACT OF

LEASE, he shall notify the LESSOR of his intention not later than
two (2) months from the expiration of the period of this LEASE
CONTRACT; otherwise the same shall be deemed to be
automatically renewed, subject to negotiation as regards the
Escalation Clause and other terms and stipulations herein agreed
upon;

27. That this contract, including the terms and conditions hereof as
herein stipulated, shall not be changed, altered or notated except
in writing and signed by both of the parties herein.

In WITNESS WHEREOF, the parties have hereunto set their hands on this
_______day of _________ 2018 at __________________.

Lessor
 Lessee

SIGNED IN THE PRESENCE OF:

REPUBLIC OF THE PHILIPPINES )

)SS

BEFORE ME, a notary public for and in the City of Laoag , on this
____ of ______2016, personally appeared,

1. ___________________ with -
____________________________________and

2. __________________ with ___________________________

ISSUED AT ___________________and with their identification
cards as appearing below their names as competent proof of
identity

Both known to me known to be the same persons who executed the foregoing
Contract of Lease, consisting of four (4) pages including where this
acknowledgement is written, and they acknowledged that the same are their
own free acts and deeds.

WITNESS MY HAND AND SEAL on the date and place above written.

Doc. No. ___

Page No. ____
Book No. ____
Series of 2019.