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Contract of Lease Draft

This contract establishes a 3-year lease agreement between a lessor and lessee for Unit A, a 16 square meter commercial unit. The lessee will pay a monthly rental fee plus utilities and conduct repairs. The lessee cannot sublease the unit or change its use without permission. The contract outlines payment terms, maintenance responsibilities, taxes, liability issues, and conditions for early termination by either party.

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Abz Manansala
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244 views3 pages

Contract of Lease Draft

This contract establishes a 3-year lease agreement between a lessor and lessee for Unit A, a 16 square meter commercial unit. The lessee will pay a monthly rental fee plus utilities and conduct repairs. The lessee cannot sublease the unit or change its use without permission. The contract outlines payment terms, maintenance responsibilities, taxes, liability issues, and conditions for early termination by either party.

Uploaded by

Abz Manansala
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS


This Contract of Lease made and entered this 8th day of July 2019 in Quezon City,
Philippines by and between:
, of legal age, widow, with address herein referred to as “LESSOR”.
- and
a domestic corporation duly organized under the laws of the Philippines
represented by, of legal age with address at 2106 Carmel St., San Miguel Village, Makati
City herein referred as the “LESSEE”.
- WITNESSETH THAT -
WHEREAS, The LESSOR is the owner of a commercial building at (Leased
Premises);
WHEREAS, The LESSEE desires to lease a unit in said building identified as
Unit A with a total area of 16sqm, and the LESSOR is willing to lease the said unit unto
the LESSEE;
NOW THEREFORE, for and in consideration of the foregoing and the mutual
covenants herein contained, LESSOR hereby lets and by these presents do hereby let and
lease unto LESSEE and the LESSEE hereby accepts by way of LEASE, the subject unit
under the following terms and conditions:
1. LEASE PERIOD – The term of this shall be for a period of three (3) year
commencing on renewable yearly under the terms and conditions mutually
agreed upon between the LESSOR and the LESSEE;

2. RENTAL – The Parties hereby agree that the monthly rental for the “Leased
Premises” shall be exclusive of VAT payable on the 1st day of the month. Ten
(10) monthly rentals shall likewise be delivered to the LESSOR upon signing
of the contract. Should any of the post dated checks be dishonored after five (5)
days of grace from their maturity date, the LESSOR shall consider this contract
terminated under paragraph 17 & 18 of this contract

3. The LESSEE hereby expressly agrees and warrants that the leased premises
shall be used by him exclusively for purpose and the said LESSEE is hereby
strictly prohibited from using said premises for any other purpose or business
without the prior written consent of the LESSOR.

4. The LESSEE shall not directly or indirectly sublease, assign, transfer, convey,
mortgage or in any way encumber his right of lease over the leased premises or
any portion thereof under any circumstances whatsoever, any contract that may
be made in violation of this clause shall be null and void.

5. ADVANCE RENT The Lessee shall pay the LESSOR two (2) months
advance rent in the amount of fifteen thousand applicable to the last two
months of the lease period.

6. SECURITY DEPOSIT – The amount of fifteen thousand pesos as security


deposit to be refunded by the LESSOR to the LESSEE within two (2) months
after the end of the contract period.
7. ESCALATION – rental beginning the fourth year shall escalate Five (5)
percent per year. No other notices shall be provided.

8. MONTHLY TELEPHONE CHARGES – shall be paid directly by the


LESSEE to the telephone company concerned. The telephone connection will
be applied for by the LESSEE under the LESSEE’s name.

9. WATER & POWER CHARGES – Monthly water and power charges shall
be paid by the LESSEE to the Manila Water Company or to the
MERALCO if the LESSEE is provided with a sub-meter by the LESSOR or
the utility company. Guarantee deposits for water and power shall be paid by
the LESSEE.

10. REPAIRS – All necessary, ordinary and maintenance repairs shall be for the
account of the LESSEE, while major repairs shall be for the account of the
LESSOR. Damages to the property due to fire and other sentinel events caused
by the LESSEE, its agents, employees, or guests shall be to the account of the
LESSEE. Damages to the property due to fire and other liability caused as a
consequence of the use of the leased premises shall be to the account of the
LESSEE.

11. SANITATION – The LESSEE shall keep the Leased Premises clean and in
sanitary condition at all times. The LESSEE has inspected the Leased
Premises and found it to be in good and tenantable condition.

12. TAXES AND INSURANCE – Real estate taxes on land and building shall be
paid by the LESSOR. Fire insurance premiums on the building shall likewise
be for the account of the LESSOR. However, the LESSEE shall insure his/her
furniture, equipment and all other insurable items in the Leased Premises;

13. THIRD PARTY LIABILITY – During the occupancy of the Leased


Premises, the LESSEE shall hold the LESSOR free and harmless from any
and all damage/s or liability or responsibility to any person or property arising
out of or as a consequence of the use of the Leased Premises by the LESSEE,
his/her agents, employees and guests which damage is not due to the fault or
negligence of the LESSOR or his agents or employees. When such damage or
liability is caused by fortuitous events or acts of God, such as typhoon,
earthquake, flood etc. which are beyond the control of the LESSEE or the
LESSOR, neither shall be liable for the said damage or liability.

14. INSPECTION OF PREMISES – The LESSOR shall maintain the Leased


Premises in good and tenable condition and in case of purchase by a third party
of the Leased Premises, the LESSOR reserves the right, upon prior notice to
the LESSEE to inspect the Leased Premises at reasonable hours. LESSOR
reserves the right to show the premises to third parties.

15. RULES AND REGULATIONS – The LESSEE agrees to abide by the rules
and regulations promulgated by the Alpha Village Homeowners Association,
Inc.
16. SALE, TRANSFER, MORTGAGE – In the event of sale, transfer, mortgage
or any other encumbrances of the Leased Premises, the LESSOR warrants that
the purchaser, mortgage or encumbrance holder shall respect all the terms and
conditions of the Contract of Lease

17. RETURN OF PREMISES – Upon termination of this Contract for any


reason whatsoever, The LESSEE shall vacate the Leased Premises and return
possession thereof to the LESSOR upon the latter’s request. The Leased
Premises shall be returned by the LESSEE to the LESSOR in a clean and
orderly manner. Reasonable cost of such cleaning shall be for the account of
the LESSEE. At the termination of the lease, permanent improvements shall
remain or can be taken out provided no damage is caused to the premises. All
expenses to restore the unit to its original and tenable condition will be at the
lessee account.

18. TERMINATION – Any violation by the LESSEE of the terms provided for
in this Contract, shall be sufficient ground for the termination of this Contract
of Lease by the LESSOR. A three (3) month notice will be provided for any
early termination by either parties.

IN WITNESS WHEREOF, the parties hereto have signed these presents the date
and at the place first above mentioned or written.
SUBSCRIBED AND SWORN to before me this _____ day of ______ 2019, in
QUEZON CITY.

Notary Public
Doc. No. _________;
Page No. _________;
Book No._________;
Series of _________

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