Contract of Lease
Contract of Lease
and
WITHNESSTH:
The LESSOR hereby agrees to lease unto the LESSEE and the LESSEE hereby agrees
to lease the property more particularly designated as a commercial space located at
7609 Dela Rosa St., Pio Del Pilar, Makati City subject to the following conditions:
1. The term of the lease shall be for a period of One (5) year(s) commencing
from October 15, 2016 and to expire on October 15, 2021.
2. The monthly rental for the said commercial space duly owned by the LESSOR
shall be Fifteen Thousand Pesos (P 15,000) for a period of 5 years, and it will
be increased by Twenty Percent (20%) yearly on the succeeding years of the
duration of the Lease and payable in cash on advance monthly basis;
3. The LESSEE shall pay unto the LESSOR a guarantee/security deposit
equivalent to Two (2) months rental in cash to guarantee the LESSEEs faithful
compliance with the terms and conditions of this agreement and advance
rental equivalent to Two (2) month rental;
4. The LESSOR shall applied the Two (2) months deposit for whatever expenses
needed for repairs of damages will occur on the property during the period of
lease and the lessee shall defray at this own expense the monthly bills for
water, electricity, gas, garbage, security guard, telephone and other services
in the leased premises/unit;
5. The LESSEE shall not make or cause to be made by any improvements in the
premises without prior written consent of the LESSOR, it is being understood
that such improvements shall be in the sole expenses of the LESSEE, and any
permanent structures to be constructed/erected independently should be
removed upon the expiration of the contract;
6. The LESSEE shall not directly or indirectly sub-lease, assign or transfer his/her
right under this agreement to a third party or parties, without prior approval
of the LESSOR;
7. The LESSEE; shall allow the LESSOR or his duly authorized representative to
inspect the condition of the premises/unit at a reasonable time and in
__Ronnie N. Navarrete
LESSOR
______________________________
______________________________
ACKNOWLEDGEMENT
)
) s.s.
Before ME, a Notary Public for and in the City of Makati, this _____________________
personally came and appeared:
NAME
ISSUED
GOVT Issued ID
DATE/ PLACE
All known to me be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their own free act and deed.
This instrument refer to a Contract of Lease consisting of Two (2) papers signed by
the parties on the left hand margin of page One (1) and on the space provided in
page Two (2) with their instrumental witnesses.
WITNESS MY HAND AND SEAL, the day, year and place first above-written.
Doc. No.:__________________
Page No.:__________________
Book No.:__________________
Series of 201__.