LEASE CONTRACT
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and cntered by and between:
GRACE CARMEN MARISTELA, at legal age, single and resident of Barangay
Magallanes, Purok 7 Masbate City hereinafter reterred to as FIRST
PARTYILESSOR:
-AND-
LARRY SATAM ESPAÑOL, Filipino Citizen, Legal age, single and resident of
Barangay Kinamaligan, Masbate City, Province of Masbate, Philippines hereinafter
referred to as the SECOND PARTY/ LESSEE: and with residence and postal address
at (Address), hereinafter reterred to as thc LESSEE.
WITNESSETH
WHEREAS, the LESSOR is the registered owner of a Motorparts & Service situated
at Barangay F. Magallanes, Masbate City and the LESSEE is desirous and willing to
rent the said facility for the purposes as enunciated.
NOW THEREFORE, for and in consideration of the foreooing premises, the THE
FIRST PARTY/LESSOR and SECOND PARTY/ LESSEE has arrived to this
agreement, subject to the following TERMS AND CONDITIONS.
TERMS AND CONDITIONS:
1. PURPOSES: That premises hereby leased shall be tused exclusively by the
LESSEE for residential purposes as enunciated.
2. TERM: That this lease contract shall have a term for one (2) years.
3. CONTRACT PRICE: T'hat the Monthly Rental Rate shall be Php 5,000.00
4. ADVANCE/DEPOSIT: That the 1 month rental and last month deposit amounting
to Php__________ shall be given by the lessor upon execution of this contract.
5. START OF CONTRACT: This contract will start on May 05, 2024 and end up on
May 05, 2025.
6. MODE OF PAYMENT: That the SECOND PARTY shall give payment every 5
day of the applicable month the the FIRST PARTY LESSOR.
7. UTILITIES: That the SECOND PARTY/LESSEE shall bear all the necessary
expenses for the materials and labors, renovation, and maintenance of the unit during
the duration of this term. Likewise, all facilities and utilities during the duration of the
term shall be paid by the LESSEE.
8. ALL MINOR REPAIRS AND MAINTENCE will be at the LESSE's expense as
user thereof, Major repairs should be notified to the lessor.
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9. EXPIRATION OE AGREEMENT: at the Epiration of the term on this agreenent or
Cancellation thereof as herein provided, the L will promptly turn on the unit in favor
of LESSOR unless renewal of the contract is undertaken. Likewise, One Month
Deposit will be retain to settle all expenses for the utilities and repairs should be any
premises.
10. TERMINATIONEXENSION OF CONTRACT Both parties shall give 30 days
notice to the Other in case of carly terination of this contract.
11. That the LEASE CONTRACT shall be valid and binding between thc parties,
their successors- in-interest and assigns.
12. That the laws of obligations and Contract of thc New Civil shall supplement any
provisions not covered by this agrecnent.
IN WITNESS WHEREOF, parties herein affixed their signatures this Masbate City,
Province of Masbate
GRACE CARMEN MARISTELA LARRY SATAM ESPAÑOL
LESSOR LESSEE
Signed in the presence of:
_________________________ _____________________________
ACKNOWLEDGEMENT
Republic of the Philippines)
______________________)S.S.
BEFORE ME, personally appcared:
Name CTC/ID Number 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 _______page/s, including the page on which this
acknowledgement is written, has been signed on cach 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.
Doc. No._________
Page No._________
Book No._________
Series of 2023_____
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