Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
WITNESSETH
WHEREAS, the LESSOR is the owner in fee simple of two (2) parcels of land situated in
Brgy. Apulid, Paniqui, Tarlac, Philippines, known as follows:
WHEREAS, the LESSOR agreed to lease the above mentioned parcels of land in favor of
the LESSEE,
1. That the terms of this lease contract shall be one (1) year to commence on February
15, 2007, and to end on February 15, 2008, renewable for another one (1) year at the
option of the LESSOR, upon written notice communicated by the LESSEE to the
LESSOR at least thirty (3) days in advance prior to the termination of the original
period;
2. That the LESSEE agrees to pay the LESSOR a yearly rent of THIRTY THOUSAND
PESOS (PHP30,000.00), Philippine Currency, per year, all the above parcels of land
payable in advance on or before February 15, 2007, and the succeeding payments
thereof shall be made every 15th day of February, thereafter upon renewal;
3. That the LESSEE may introduce improvements thereon upon written notice to the
LESSOR whose approval shall be implied if no written objection is interposed in five
(5) days from receipt of said notice, provided, however, that all the improvements so
introduced shall become property of the LESSOR upon payments of fifty percent
(50%) of the cost of said improvements upon termination of this contract;
Contract of Lease of Farmland, Page 2…
4. That in the event the LESSOR should sell the leased premises during the term of this
agreement, the LESSEE shall have the priority to purchase the property for the same
price and condition that it may be offered to sale to any other person, provided,
however, that in the event this property is purchased by someone other than the
LESSEE, the new owner shall be made to respect the terms and conditions of this
lease agreement. It is understood that the new owner shall allow the LESSEE to finish
the harvesting of whatever is planted in the above-said parcels of land.
IN WITNESS WHEREOF, the parties hereunto set their signed this Contract of Lease on
this 15th day of February, 2007, at Paniqui, Tarlac, Philippines.
________________________________
________________________________