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Contract of Lease

This document is a contract of lease between Joanne Mae P. Domingo as the lessee and Corazon T. Resucay as the lessor. The lessor owns a building in San Nicolas, Philippines that they are leasing to the lessee for two years, with the option to renew for another three years. The monthly rental amount is PHP 5,000 and is due on the first of each month. The contract outlines responsibilities for repairs, utilities, and what constitutes breach of contract. Both parties signed the contract in the presence of witnesses to formalize the lease agreement.

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94 views2 pages

Contract of Lease

This document is a contract of lease between Joanne Mae P. Domingo as the lessee and Corazon T. Resucay as the lessor. The lessor owns a building in San Nicolas, Philippines that they are leasing to the lessee for two years, with the option to renew for another three years. The monthly rental amount is PHP 5,000 and is due on the first of each month. The contract outlines responsibilities for repairs, utilities, and what constitutes breach of contract. Both parties signed the contract in the presence of witnesses to formalize the lease agreement.

Uploaded by

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

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE entered into by and between:

Joanne Mae P. Domingo, of legal age, Filipino citizen and resident of Serrano St. ,
Brgy. 8, San Nicolas, Ilocos Norte, Philippines, herein referred as LESSEE;

-AND-

Corazon T. Resucay, of legal age, Filipino citizen and resident of Brgy. 9, San
Nicolas, Ilocos Norte, Philippines, referred to as the LESSOR;

-witnesseth further-

That the LESSOR is the owner of a Building located at Brgy. 3, San Nicolas,
Philippines.

That the LESSOR hereby offers to lease the said building unto the LESSEE, and the
latter hereby accepts the offer of the former.

That the terms and conditions of this lease are as follows:

1. The terms of this lease is for two (2) years, commencing on _______
and expiring on ___________ during which the LESSEE shall be bound
to pay the LESSOR for the monthly rental of Five Thousand Pesos
(Php5,000.00) due and payable on ____________________, subject for
renewal for another three (3) years, with the same monthly rental of
Five Thousand Pesos (Php5,000.00) by mutual agreement of the parties
provided that the LESSEE shall give fifteen (15) days PRIOR to the
expiration of this Contract of her intention to renew the same.

2. That in case the parties fail to renew the contract the Lessor shall
reimburse the Lessee half of her total expenses on the initial
renovation of the building.

3. Any further alteration, repair, installation and painting of the leased


premises shall be for the sole account and expenses of the LESSEE
without the right to reimbursement.

4. Upon the execution of this contract, the LESSEE shall make one (1)
month deposit and one (1) month advance in the amount of Five
Thousand Pesos (Php5,000.00) to the LESSOR;

5. The LESSEE shall pay all the expenses for electricity and water bills, and
other fees in connection with its operation.

6. Rules and regulations issued by the LESSOR are made and referred to as
part of this contract and shall be binding on the LESSEE herein at all
times.

7. That in case of non-payment of the monthly rental herein stipulated or


any violation of the above-stated conditions, the lease shall be
considered rescinded and terminated and the LESSOR shall have the
right to demand that the LESSEE shall vacate the premises and give
notice to vacate 10 days before;
8. That both the parties hereto agree that they shall exert utmost effort
and to fulfill and perform the provisions stipulated in this document.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ___ day of
__________ at Laoag City, Philippines.

JOANNE MAE P. DOMINGO CORAZON T. RESUCAY


LESSEE LESSOR

Id No. 0071628 Id No. _____________

Signed in the presence of:

_________________________ _________________________

REPUBLIC OF THE PHILIPPINES)


CITY OF __________ ) S.S.

ACKNOWLEDGEMENT

Before me, this _____ day of __________ in the City of __________, Philippines,
personally appeared JOANNE MAE P. DOMINGO AND CORAZON T. RESUCAY with their
identification cards duly indicated below their name and signature known to me to be
the same person who executed the foregoing instrument and acknowledged to me that
the same is their free and voluntary act and deed.

This instrument which consists of two (2) pages refers to the Contract of Lease
signed on each and every page thereof by the parties and their instrumental witnesses.

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

Doc No. _____


Page No. ____
Book No. ____
Series of ____

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