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CONTRACT OF LEASE
KNOWN ALL MEN BY THESE PRESENTS:
-WITNESSETH-
3. That the LESSEE shall pay the LESSOR within the first (5)
days of each month for the lease FORTY-FOUR THOUSAND PESOS (P
44,000.00) for the period of March 1, 2013 up to February 28, 2015;
the rental rate shall be increased to FORTY-EIGHT THOUSAND PESOS (P
48,000.00) each month for the period of March 1, 2015 up to February
28, 2017, and shall further be increased to FIFTY-TWO THOUSAND
PESOS (P 52,000.00) each month for the period of March 1, 2017 up to
February 28, 2018;
4. That the LESSEE shall not make or introduce any
improvement without the consent of the LESSOR but may put in
improvements which are readily detachable even without the consent
of the LESSOR.
5. That the LESSEE shall not sublet or sublease all or any part of
the lease premises.
6. That the LESSOR shall be given written notice of the three (3)
months in advance in the event that the LESSEE desires to vacate the
premises. Otherwise the three (3) months deposit is forfeited.
7. That the electric and water bill shall be for the account of the
LESSEE during the period of this contract of lease
8. That the LESSEE shall use the premises strictly for business
purposes and shall undertake to make any and all minor repairs of the
said premises, major repairs, however, shall be borne by the Lessor.
9. In the event that the suit is filed to reinforce the terms of this
contract and to recover any amount due to hereunder, the party at
fault shall pay to aggrieved party an amount equivalent to 20% of the
amount due for and as attorney’s fees.
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ACKNOWLEDGMENT
WITNESS MY HAND AND SEAL, on the date and place first above
written.
Notary Public