Vehicle No. 12
Vehicle No. 12
Vehicle No. 12
Vehicle no. 12
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\ xz=dv-0griuidjkvflm;’domptly (1) return the leased vehicle(s) to the LESSOR
road worthy, complete, and in good order and condition, reasonable wear and
tear alone excepted, and (2) pay all transportation charges to LESSOR’S
requested locations for Vehicle return, and (3) pay the cost to remove any decals
and/or artwork from the vehicle(s). Should the leased vehicle(s) so returned
not be in the required good order and condition, LESSOR shall serve written
notice on LESSEE to make the required repairs, and in the event LESSEE fails to
do so within 15 days after such notice, LESSOR may at its option cause such
repairs to be made, in which event LESSEE agrees promptly to reimburse
LESSOR for all expense so incurred by LESSOR.
D. Time is of the essence for this Lease Agreement and, in the event
LESSEE breaches or is in default of any of its provisions, LESSOR may immediately,
without formal notice or demand, take possession of, retain and/or refuse to re-
deliver the leased vehicle(s) to LESSEE until such breach or default is cured
without any of such actions being deemed an act of cancellation and without
prejudice to other remedies LESSOR may have, and LESSEE shall continue to be liable
for rent and other charges accruing during the period the leased vehicle(s) are
retained by LESSOR. If LESSEE’S breach or default shall continue for seven (7) days
after written notice thereof shall have been mailed to LESSEE, LESSOR may, at its
election and irrespective of whether LESSOR shall have elected to take possession of
or retain the leased vehicle(s) as provided above, terminate this Lease Agreement
immediately.
ACKNOWLEDGEMENT
Republic of the Philippines)
_________________________) S.S
BEFORE ME, this _______________ at Laoag City, Philippines, personally
appeared ATTY. JOHN NICO LUCERO and AMBROCIO R. SORIANO, JR., whose proof
of identifications are indicated above and their names and signatures, known to me
and to me known to be the same persons who executed the foregoing instrument
and acknowledged to me that the same is their free and voluntary act and deed.
WITNESS MY HAND AND SEAL, on the date and place first above written.