Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                

Contract of Lease

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 3

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:


This Contract entered 28th day of May 2021 at Camaligan, Camarines Sur by and between:
JENNIFER LOPEZ NALE of legal age, Filipino residing at Marupit , Camaligan Camarines Sur, herein after
referred to as the “LESSOR’,
-and-
DULCE S. NARVADEZ, of legal age, Filipino, residing at San Felipe, Naga City hereinafter referred
to as the” LESSEE”,
WITNESSETH:
WHEREAS the LESSOR is the absolute owner of a concrete 1 storey building situated at Zone 5, Marupit
Camaligan, Camarines Sur (the property) together with a portion of the land on which it is constructed
and covered by Tax Declaration No.2016-10-002-0233 particularly described as follows:
“A partial of Land Containing an area of SIX HUNDRED SEVEN (607) SQUARE METERS, situated at
Marupit Camaligan, Camarines Sur. Bounded on the North by P. Road, on the South and East at 1459 to
1480, and on the West at 1678, Lot No. 1464-1463”
WHEREAS LESSEE desires to lease from the LESSOR, and the LESSOR agrees to lease unto the
LESSEE the above-mentioned building, with a total area floor of ___square meters, more or less,
(hereinafter referred to as the “Leased Premises”).
NOW, THEREFORE, for and consideration of the foregoing premises and by virtue of the
obligation and undertakings herein stated, the parties have agreed as follows:
1.TERM- the lease shall be a period of Three years beginning May 29, 2021, ending May 29,2024
renewable by mutual agreement of the parties. The LESSEE may request for the renewal of the lease by
giving at least (90) calendar days’ notice to the LESSOR before the expiration of the lease.
This contract of the lease shall become automatically terminated upon ninety days (90) prior
written notice to the LESSOR.
2.TERM OF PAYMENT
 Without prejudice to the exercise by the LESSOR of its rights provided in this contract
and under the law the LESSEE shall pay interest of three (3) percent on any monthly
rental not paid on time, from the time the said is due until such monthly rental is paid in
full. Computed on a monthly basis with a fraction of a month considered as one (1)
month, without prejudice to the right of the LESSOR to terminate this contract and eject
the LESSEE as hereinafter provided.
 LESSEE hereby give absolute authority and express conformity to the LESSOR of her
assign to enter, padlock, terminate, and take over the least premises, cut off electric,
water and other utilities without incurring any liability, civil and or criminal.
3. RENT- the LESSEE shall pay rent in the mount of PESOS: EIGTH THOUSAND per month inclusive of VAT
and all other taxes and charge. The rent shall be payable every 29 th day of every month. The obligation
of LESSEE to pay rentals for the lease premises shall cease upon the expiration /pre-termination of the
lease herein provide. The LESSEE shall pay 1 month advance and 1 month deposit for rent at inception of
lease.
4. USE OF LEASE PREMISES- the lease premises shall be used exclusive for water refilling station/office
purposes in line with the LESSEE ‘s business operation and all allied or related business or services or in
furtherance thereof, shall not be diverted to any purpose without prior written consent of the LESSOR.
5. POWER CONSUMPTION AND CHARGE FOR UTILITIES -all electric consumption and charges, fees,
water, and other utilities shall be for the account of the LESSEE, a separate meter for water and
electricity is installed as necessary.
6. REPAIRS -The LESSEE shall make necessary repairs on the leased premises including but not limited to,
plumbing, electrical and building structures. They shall maintain the leased premises in good and
tenantable condition.
All repairs involving structural, foundation, roofing, construction, columns, concrete walls aspects, etc.
shall be for the account of the LESSEE.
7. INSTALLATION OF PERMANENT FIXTURES AND IMPROVEMENTS in the property shall be own by the
LESSOR upon expiration or termination of the contract without additional cost or need of
reimbursement.
8. TERMINATION OF THE LEASE-should LESSEE opt not to renew the lease; LESSEE agrees to return and
surrender to the LESSSOR of the LEASED Premises at the end of the term of this Lease in as good
condition as reasonable wear and tear will permit and without delay.
9. PARKING SPACE- The LESSEE shall entitle to use, free of charge, of spaces of parking in front.
10. NON-WAIVER- Failure of either party to insist upon a strict performance of any of the terms,
conditions and covenants herein shall not be deemed a relinquishment or waiver of any right of remedy
which either party may have not shall it be construed as waiver of any subsequent breach of default of
the terms, conditions and covenants herein contained.
11.PAYMENT OF REALTY TAXES – It shall be the duty of the LESSOR to pay realty taxes on the land,
where the property is constructed as well as the property itself.
12. BREACH or DEFAULT- Both parties agree that all terms and agreement herein contained shall be
deemed conditions as well as covenants and that default or breach is made of any such covenants or
conditions, then this lease maybe terminated or cancelled, and the defaulting party shall be liable for
any and all damages resulting from such default and termination.
13. INCASE OF BREACH OF CONTRACT by the LESSEE of any of the above-mentioned covenants, the
LESSOR may, while the default shall continue and not withstanding any waiver or prior breach of
condition and without notice or demand, terminate this contract and enter into and take over the
premises, and shall be entitled to collect the liquated damage in the amount equivalent to Two (2)
months rental expenses. The security deposit shall also be forfeited in favor of the LESSOR.
14. DAMAGE TO LEASED PREMISES – in the event of fortuitous event are force majeure causing great
damage to the lease premises and rendering it untenantable, the lease shall automatically become
ineffective or terminated. However, the parties herein may enter into appropriate agreement incase
they decide to execute a new agreement covering the dilapidated or the renowned premises as the case
may be.
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPINES
PROVICE OF CAMARINES SUR
CITY OF NAGA

Personally, known to me to be the same persons who executed the foregoing instrument, and
acknowledged that they execute the same as their free act and deed.
This instrument consisting of three (3) pages including this whereon the acknowledgement is
written has been signed by the parties and witnesses on each and every page thereof…

IN WITNESS WHEREOF, BEFORE ME, Notary public for and in the province of Camarines
Sur, this ___________, 2021
Personally appeared:
NAME: COMMUNITY TAX CERT.NO. ISSUED AT ID NO.
JENNIFER LOPEZ NALE ____________________ _________ ________
DULCE S. NARVADEZ ____________________ _________ ________

You might also like