CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at (address) this ______ day of
_________, 2018, by and between:

NAME, of legal age, Filipino and with residence at (address), hereinafter referred to
as the LESSOR.

-AND-

NAME, Filipino and with residence at (address), hereinafter referred to as the

LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a

commercial property situated at (address);

LESSEE: _____________________
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
the LEASED premises, subject to the following:

TERMS AND CONDITIONS

1. PURPOSES: That the leased premises shall be used exclusively by the LESSEE
for (purpose) only and shall not be diverted to other uses. It is hereby expressly agreed
that if at any time the leased premises is used for any other purpose or extensive
damage on the premises occurs as a result of the premises being used by the
LESSEE for purposes other than that specified herein, the LESSOR shall have the
right to rescind this contract and forfeit the advance and deposit payments. LESSOR: _____________________

2. TERM: That the term of lease is for (#) YEAR/S, from PERIOD. Notice of intention
to renew the lease shall be given to the LESSOR not later than thirty (30) days prior to
the expiry date of the period herein agreed upon. The lease may be renewed under the
same terms and conditions but with an increase of ten percent (10%) in the monthly
rental thereafter.

3. RENTAL RATE: That the monthly rental rate for the leased premises shall be
AMOUNT IN WORDS (P 0,000.00). All rental payments shall be payable to the LESSOR
in cash or in check.

4. ADVANCE RENT: That the LESSEE shall advance to the LESSOR upon signing of
this contract and prior to move-in an amount equivalent to the rental fee of ONE (1)
MONTH or the sum of AMOUNT IN WORDS (P 0,000.00), and monthly payments shall
begin on January 1, 2019 until expiry of the contract. The one month advance rental
fee shall be applied to the last month in the occasion that either party has decided to
terminate the contract, or by any reason that shall cause the termination of the
contract. The LESSEE shall not be allowed to use the advance rental fee for an unpaid
month in the contract.

5. SECURITY DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing
of this contract and prior to move-in an amount equivalent to the rent for TWO (2)

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MONTHS or the sum of AMOUNT IN WORDS (P 0,000.00). The deposit shall answer
for damages and any other obligations for unpaid rental fees and/or utilities such as
but not limited to water, electricity, telephone, and/or damages to the property or
resulting from violation(s) of any of the provision of this contract.

The security deposit is refundable to the LESSEE thirty (30) days after the termination
of this contract of lease subject to the deduction for any utility bills, monthly rentals,
interests, penalties that have remained unpaid and/or damages that may have been
incurred.

6. PAYMENT: That the rental fee shall be payable no later than the fifth (5th) day of
each month. An extension may be granted upon prior notice and express agreement of
the LESSOR. If extension is granted, payment shall be made on or before the agreed
date on the due month, otherwise a surcharge of three percent (3%) shall be added to
the rental payment made after the agreed extension.

7. DEFAULT PAYMENT: That in case of default by the LESSEE in the payment of the
rental fee on the third (3rd) succeeding month, this contract of lease will be
automatically terminated. The LESSEE shall be duly notified of the same and will be
given fifteen (15) days to completely vacate the leased premises.

The advance rental and deposit given by the LESSEE shall be forfeited in favor of the

LESSEE: _____________________
LESSOR as provided for in item nos. 4 & 5. Further, the LESSOR shall also have the
authority to padlock the leased premises and/or impound equipment/s, appliance/s,
and or furniture of value in the possession of the LESSEE until full payment of any
remaining rental fee due not covered by the advance rental and deposit, and/or if
LESSEE refuses to vacate the leased premises despite notice.

8. SUB-LEASE: That the LESSEE shall not directly or indirectly sublet, allow or
permit the leased premises to be occupied in whole or in part by any person or
organization. Nor allow others to deposit within the leased premises personal items or
equipment without the written conformity of the LESSOR.

9. UTILITIES: That the LESSEE shall pay for its water, electricity, telephone, and
other utilities during the period of the lease.

10. MAINTENANCE OF PREMISES: That the LESSEE shall keep the premises, inside
and outside surroundings, clean of pollutants, garbage, and other waste materials;
further, that the LESSEE shall be responsible in the general maintenance of the entire LESSOR: _____________________
premises of the commercial unit, the same to be kept in good and functioning
condition; finally, that major and/or minor repairs which occur due to the negligence
and/or misuse of the premises shall be for the account of the LESSEE. LESSEE must
notify the LESSOR of any necessarily repairs that the leased premises may require.

11. IMPROVEMENTS: That any unnecessary improvement/s introduced by the

LESSEE on the premises without authority of the LESSOR shall inure to the latter’s
benefit without the obligation to reimburse expenses.

11.1 SIGNS AND ADVERTISEMENTS: That subject to prior written consent of the
LESSOR, the LESSEE may install, erect or affix upon the leased premises, signs or
advertisements as may be necessary to promote and/or advertise the business in
which it is engaged in. In requesting the approval of the LESSOR, LESSEE should
submit a description and the specification of its proposed sign or advertisement.

12. FORCE MAJEURE: That if whole or any part of the premises shall be destroyed
or damaged by fire, flood, lightning, typhoon, earthquake, storm, riot or any other
unforeseen disabling cause of acts of God, as to render the premises during the term
substantially unfit for use and occupation of the LESSEE, then this contract of lease
may be terminated without compensation by the LESSOR or by the LESSEE by notice
in writing to the other.

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 12.1 NEGLIGENCE: That if through the negligence of the LESSEE and/or any of
his workers or members of his family, causes damage to the leased premises, the
LESSEE shall be liable for the costs of the repair that the property may require.

12.2 INDEMNITY: That the LESSEE shall hold LESSOR free and harmless from
any loss, damage, injury suffered by the LESSEE, its agents or employees, clients,
guests or customers or other third persons arising out of the use of the leased
premises by LESSEE, its agents, employees, clients, guests, or customers including
but not limited to, claims for property damage, personal injury or wrongful death,
or losses or damages occasioned by reason of any event or cause which could not
be foreseen, or which, though foreseen, were inevitable such as but not limited to
fire, earthquake, lightning, typhoons, flood, volcanic eruption, robbery, theft or
other crimes.

13. LESSOR'S RIGHT OF ENTRY: That the LESSOR or its authorized agent, after
due notice to the LESSEE, shall have the right to enter the leased premises in the
presence of the LESSEE or its representative at a reasonable hour to examine the
same, make repairs therein for the maintenance of the property, or to exhibit the
leased premises to other prospective LESSEE, or for any other lawful purpose which
may be deemed necessary.

14. ASSIGNMENT AND TRANSFER OF RIGHTS: That the LESSOR reserves the right

LESSEE: _____________________
to assign, transfer or encumber any of its rights and interests under this contract of
lease to any entity without the need of obtaining the consent of the LESSEE except to
notify the latter of the same. In the event of such transfer, assignment or
encumbrance, the rights and interest of the LESSEE under this contract of lease shall
be respected and observed in its entirety by such assignee, transferee or mortgagee,
and for the entire term hereof unless otherwise mutually agreed upon by the parties
including the LESSEE.

The LESSEE shall not assign, or transfer or encumber its rights under this lease
without the prior written consent of the LESSOR and no right, title or interest thereto
or therein shall be conferred on or vested in any other party other than the LESSEE
without such written consent.

15. GROUNDS FOR CANCELLATION: That the LESSOR may cancel or terminate this
contract of lease, upon the happening of any of the following events:

a. The LESSEE fails to pay its monthly rent when the same falls due; LESSOR: _____________________

b. The LESSEE uses the leased premises for purposes other than those specified
herein;

c. The LESSEE violates any of the other terms and conditions of this contract of
lease, or fails to get the necessary permits from the national and/or local
government units / agencies for the continued operation of his business.

16. AMENDMENTS: That any amendments or additional terms and conditions to this
contract of lease must be in writing.

17. VENUE: That in case of any dispute arising in connection with this contract of
lease, the parties agree that the venue for the settlement of the dispute shall fall
exclusively within the jurisdiction of the proper courts in the City of _____________,
Philippines.

18. EXPIRATION OF LEASE: That at the expiration of the term of this lease or pre-
termination thereof, as herein provided, the LESSEE will promptly deliver to the
LESSOR the leased premises with all corresponding keys and in as good and tenable
condition as the same is now, ordinary wear and tear expected, devoid of all
occupants, equipment and articles of any kind.

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 This CONTRACT OF LEASE shall be valid and binding between the parties,
their successors-in-interest and assigns.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and
place above written.

_____________________________ ______________________________

LESSOR LESSEE

Signed in the presence of:

_____________________________ ______________________________

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 ACKNOWLEDGMENT

Republic of the Philippines )

___________________________) S.S

BEFORE ME, personally appeared:

Name Identification/No. Date/Place Issued

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.

This instrument consisting of FIVE (5) page/s, including the page on which this
acknowledgment is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

NOTARY PUBLIC

Doc. No. ______

Page No. ______
Book No. ______
Series of ______

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