Rudito - Rent - To - Own Contract

MOTOR VEHICLE LEASE AGREEMENT
This agreement is made this NOVEMBER day of 2017.
BETWEEN
RUDITO TRADIO GILIG JR. of legal age, [Hereinafter referred to as the “Lessor”
which article shall wherever the context so admits include its assigns and
successor in title] of the one part;
AND
JUNEL BACUS PATALINGHUG of legal age, [Hereinafter referred to as the

“Lessee” which article shall wherever the context so admits include its assigns and
successor in title] of the other part;
RECITALS;
1. Whereas the Lessor is the owner of the motor vehicle:
Make: MITSUBISHI Model: MIRAGE A/T GLX CVT HATCH
Year: 2017 Chassis: MMBXTA03AHH006389
Engine: 3A92UGD9196 Plate: TEMP. B0S136
2. Whereas the Lessor is desirous of leasing and the Lessee has agreed to
lease the aforesaid motor vehicle on the terms and conditions herein
contained:
NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:
1. RENTAL
The motor vehicle is hereby leased at a daily rate of PHP 5,950.00 payable
WEEKLY every SUNDAY evening 6PM – 11PM.
2. DURATION
The agreement shall endure for a minimum period of one (1) year commencing
on (dd/mm/yy) 19 / 11 / 2017 and shall then expire unless renewed by the
mutual agreement of the Parties and ownership of the motor vehicle shall be
honoured to the LESSOR immediately after five (5) years of fully paid rentals.
3. THE LESSORS OBLIGATIONS
The Lessor hereby agrees:
3.1 To grant the Lessee exclusive use and possession of the motor vehicle
during the duration of this agreement, save as is provided for by the
agreement;
3.2 To grant the Lessee quiet possession of the motor vehicle;
3.3 To keep the motor vehicle comprehensively insured with a reputable

insurance company throughout the duration of this agreement;
3.4 To be responsible for the normal service, repair, fair wear and tear of the
motor vehicle;
3.5 To provide the Lessee with a Photostat copy of the registration book of the
motor vehicle;
3.6 To provide the Lessee with the option to replace the motor vehicle with
another vehicle two (2) years from the signing of this agreement on the
terms and conditions contained herein.
4. THE LESSEE’S OBLIGATIONS
The Lessee hereby agrees:
4.1 To ensure that the motor vehicle is used in a skillful and proper manner and
only driven by persons that bear a valid driving permit;
4.2 To ensure that no alterations are made to the motor vehicle or any component
removed unless it is immediately replaced by the same component or by one
of the same like, make and model or an improved or advanced version;
4.3 To report to the nearest Police and inform the Lessor within 48 (forty eight)
hours of any damage to or loss of the motor vehicle;
4.4 To be responsible for costs relating to fuel, tire puncture and oil topping
up and changing, between services as well as any costs of parking fines
and towing expenses for illegal parking;
4.5 To yield the vehicle to the Lessor is good mechanical condition on the
expiration of the contract, save for normal wear and tear of the same.
5. TERMINATION OF THE AGREEMENT
5.1 The Lessor shall have the right to terminate this Agreement, upon giving the
Lessee 2 (two) weeks’ notice in writing and without any refunds if deemed
necessary.
5.2 The Lessee shall have the option to terminate this Agreement upon giving the
Lessor 2 (two) weeks’ notice in writing and shall endure penalties not more
than P23,800 if the termination is made between the minimum period of 1
(one) year.
6. FORCE MAJEURE
Neither party to this Agreement shall be liable for failure to perform any of its
obligations hereunder if prevented from doing so by reason of force majeure.
7. ENTIRE AGREEMENT
This Agreement together with the schedules and annexes hereto constitutes
the entire agreement and understanding between the Parties and supersedes
all previous agreements, understandings and/or representations between the
Parties.
8. WAIVER OF REMEDIES
No forbearance, delay of indulgence by either Party in enforcing the

provisions of this Agreement shall prejudice or restrict the rights of either
Party nor shall any waiver of its rights operate as a waiver of any
subsequent breach and no right, power or remedy herein conferred upon
or reserved for the Party is exclusive of any other, power or remedy
available to the Party and each such right, power or remedy shall be
cumulative.
9. ASSIGNMENT & CHANGE IN OWNERSHIP/MANAGEMENT ,
10.1 The Lessor shall not assign or transfer its obligations and or rights
under this Agreement to any third party, whether an associated entity or
not, whether in whole or in part without the prior written consent of the
Lessee.
10.2 The Lessor shall immediately notify Lessee of any change of ownership or
management of the Lessee's business.
12. GOVERNING LAW
This Agreement shall in all respects be governed and construed in accordance

with the Laws of the Republic of the Philippines
13. RESOLUTION OF DISPUTES
Any dispute arising between the Parties shall be determined by a court of

competent jurisdiction in Lapu Lapu City and may upon agreement between
the Parties be submitted for arbitration.
IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be

executed by its duly authorized representatives as of the day and year first above
written.
SIGNED BY LESSEE
Signature:
This ____ day of ____ 20____
In the presence of:
Name:
Address:
Signature: _________________________________________________
SIGNED BY LESSOR
Signature:
This Day of 20____
In the presence of
Name:
Address:
Signature: _______________________

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MOTOR VEHICLE LEASE AGREEMENT

This agreement is made this NOVEMBER day of 2017.

JUNEL BACUS PATALINGHUG of legal age, [Hereinafter referred to as the

Make: MITSUBISHI Model: MIRAGE A/T GLX CVT HATCH

Year: 2017 Chassis: MMBXTA03AHH006389

Engine: 3A92UGD9196 Plate: TEMP. B0S136

NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:

The Lessor hereby agrees:

3.2 To grant the Lessee quiet possession of the motor vehicle;

3.3 To keep the motor vehicle comprehensively insured with a reputable

4. THE LESSEE’S OBLIGATIONS

The Lessee hereby agrees:

No forbearance, delay of indulgence by either Party in enforcing the

9. ASSIGNMENT & CHANGE IN OWNERSHIP/MANAGEMENT ,

12. GOVERNING LAW

This Agreement shall in all respects be governed and construed in accordance

Any dispute arising between the Parties shall be determined by a court of

IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be

This ____ day of ____ 20____

In the presence of:

This Day of 20____

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