Contract of Lease

LEASE CONTRACT
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at 1st St. Guingona Subd., Butuan
City, this 11th day of July, 2017, by and between:
Spouses IAN BAJAO and EVELYN BAJAO, both Filipino, of legal age and with residence
and postal address at Leon Kilat P-7 Brgy. 3, Buenavista, Agusan del Norte, hereinafter referred
to as the LESSOR.
-AND-
UHLAND LOANS CORPORATION, represented by GEORGIA G. COLON,
Filipino, married and with residence and postal address at 1st St. Guingona Subd., Brgy. JP Rizal,
Butuan City, hereinafter referred to as the LESSEE
WITHNESSETH;
WHEREAS, the LESSOR is the owner of the LEASED PREMISES, a
COMMERCIAL property situated at Leon Kilat P-7 Brgy. 3, Buenavista, Agusan del Norte;
Whereas the LESSOR agrees to lease out the property to the LESSEE and the LESSEE
is willing to LEASE the same;
NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR
leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR and the LEASED
premises, subject to the following:
TERMS AND CONDITIONS
1. USE AND PURPOSE OF LEASE. That the premised property leased shall be used
exclusively by the LESSEE for commercial/ office purposes only. The LESSEE shall
not directly or indirectly sublease, assign, transfer, convey or mortgage or in way,
encumber its right to lease the whole or in the part the leased property under any
circumstances whatsoever, without written consent of the LESSOR. It is agreed that if at
any time the premise is used for other purposes, the LESSOR shall have the right to
rescind this contract without prejudice to its other rights under the law;
2. TERM. This CONTRACT shall be for THREE (3) YEARS from JULY 30,2017
UNTIL JULY 30, 2020 inclusive. Upon its expiration, this lease may be renewed under
such terms and conditions as may be mutually agreed upon by both parties, a written
notice of intention to renew the lease shall be served to the LESSOR not later than seven
(7) days prior to the date of expiration of the period herein agreed upon;
3. RENTAL RATE. The monthly rate shall be EIGHT THOUSAND PESOS (PHP
8,000.00). All rental payments shall be payable to the LESSOR in accordance with R.A.
9653- Rent Control Act of 2009 at every 30th of the month. All the taxes due to rent
shall be borne by the LESSEE.
4. DEPOSIT. Upon signing this contract, an amount equivalent to the rent of TWO (2)
MONTHS as deposit and ONE (1) MONTH rent equivalent as advance payment in the
total amount of TWENTTY FOUR THOUSAND PESOS (PHP24,000.00) shall be
paid by the LESSEE to the LESSOR, which shall answer partially for damages and
other obligations for utilities such as water, electricity, CATV, telephone etc due to
LESSEE;
5. PUBLIC UTILITIES. The LESSEE shall pay for its telephone, electric, cable, TV,
water, internet and other public services and utilities during the duration of the lease;
6. FORCE MAJEURE. If whole or any part of the leased premises shall be destroyed or
damaged by fire, flood, lighting, typhoon, earthquake, storm, riot or any other unforeseen
disabling cause acts of God, as to render the leased premises during the term substantially
unfit for the use and occupation of the LESSEE, this contract may be terminated without
compensation by the LESSOR or by the LESSEE after due notice made in writing;
7. IMPROVEMENTS. The LESSEE may with the written consent of the LESSOR, may
make at her expense, alterations, additions or improvements on the structure. The
LESSEE may remove the fixtures introduced into the leased premises only when the
same shall have not injured the concrete structure or integrity of the building, unless the
LESSEE undertakes to restore at her own expense, the damaged structure;
8. CLEANLINESS. That the LESSEE shall be responsible for the cleanliness of the
premises including the sidewalk, toilet facilities and garbage disposal;
9. EXPIRATION OF LEASE. At the expiration of the term of this lease or cancellation

thereof, the LESSEE shall promptly deliver to the LESSOR the leased premises with all
corresponding keys and in good condition as the same is now, ordinary wear and tear
expected devoid of all occupants, movable furniture, articles, and effects of any kind;
10. VIOLATION OF TERMS AND CONDITIONS. That the violation of any of the above
terms and conditions shall produce ipso facto rescission of this Contract of Lease.
IN WITHNESS WHEREOF, parties herein affixed their signatures on the date and
place above written.
___________________ ___________________
LESSOR LESSEE
Signed in the presence of:

___________________ ___________________
ACKNOWLEDGMENT
Republic of the Philippines)

_ _ _ _ _ _ _ _ _ _ _ )s.s.
Before me, personally appeared:
Name CTC Number /ID No. Date/ Place of Issue

______________ _________________ _________________
______________ _________________ _________________
______________ _________________ _________________
______________ _________________ _________________
Known to me and known to be the same persons who executed the foregoing instrument
consisting TWO (3) pages, duly signed by the parties and acknowledged to me that the same are
their voluntary act and deed.
WITHNESS MY HAND ANS SEAL, on the date and place first above written.
Doc. No._____;
Page No._____;
Book No._____;
Series of 2017.

Contract of Lease

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LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

TERMS AND CONDITIONS

9. EXPIRATION OF LEASE. At the expiration of the term of this lease or cancellation

Signed in the presence of:

Republic of the Philippines)

Before me, personally appeared:

Name CTC Number /ID No. Date/ Place of Issue

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