CONTRACT OF LEASE OF PIECE OF LAND
KNOW ALL MEN BY THESE PRESENTS:
This
contract of lease made and entered into, by and between:
LESSOR: ___________________, of
legal age, Filipino, single/married/widow, and a resident of _________________, Philippines with Power of Authority from the heirs of ___________________, authorized to
transact business for them pertaining to the herein described parcel of land.
LESSEE: ___________________, of legal
age, Filipino, single/married, and resident of _____________________,
Philippines.
WITHNESSTH: That-
WHEREAS, the LESSOR is the authorized
representative of the Property located in _______________________,
covered by Tax Declaration No. __________________, more particularly described as follows:
RESIDENTIAL LOT PROPERTY containing an approximate
area of ______________________ (_____) square meters, bounded on the North by land of _________________; on the East, by _________________; on the south, by _________________ and on the West by _________________; boundaries not marked by visible monuments,
with permanent improvements, and with assessed value of Php _________________ for the
year ________.
NOW, THEREFORE, for and in consideration of the
foregoing premises, and the following mutual covenants, undertakings,
obligation of terms and condition, the parties have agreed, as hereby as
follows.
1. RENTAL. The monthly rental fee for the
Leased Property shall be _____________________ PESOS (Php___________.00) exclusive of Value Added Tax, to be paid
by the LESSEE on or before thirty (30) days after completion and notarization
of this Contract of Lease and every end of the following month thereafter. It
is expressly agreed and understood that the payment of the rental fee herein
stipulated shall be made without the necessity of express demand and without
delay on any ground whatsoever except those grounds which fundamentally undermine
the purpose and object of this contract.
2.
PERIOD OF LEASE. The term of this lease shall
be for a period of _________ (__) year/s commencing
on ________________ and expiring on ________________ unless sooner terminated for cause and in the manner
hereunder provided. This Contract of Lease may be renewed for another _____ years at
the option of both parties under such terms and conditions mutually agreed upon
by the parties, LESSOR and LESSEE.
3.
COMPLIANCE WITH LAWS,
GOVERNMENT RULES AND REGULATIONS AND REASONABLE DIRECTIVE OF LESSOR. The LESSEE shall comply
with any and all laws, ordinance, regulations or orders of the National or
Local Government authorities arising from or regarding the use, occupation and
sanitation of the Leased Property. The LESSEE
shall comply with all sanitary condition and proper disposal of waste from the
Leased Property.
4.
IMPROVEMENTS. The LESSEE is allowed to
build structures and other improvements on the said leased property. The LESSOR
allows the LESSEE to expand the structure and other improvement towards the
adjacent foreshore land. It is expressly agreed by the parties herein that any
fixed improvements or renovations that is introduced or will be introduced in
the subject land by the LESSEE shall remain as the property of the LESSEE even after
the expiration of the term of this Contract and shall be disposed of according
to the provisions of the Civil Code.
5.
RENEWAL. In the event the LESSOR
desires not to renew the contract, the LESSOR shall notify in writing the
LESSEE at least two years before the expiration of the period agreed. Failure
to give the written notice renders the LESSOR liable for any damage or business
losses that the LESSEE may incur as a result of the non-renewal of the
contract. The LESSOR and the LESSEE have the option to renew this lease under
the terms, conditions and covenants mutually agreeable to both parties.
6.
WARRANTY. Undersigned LESSORS
expressly warrant and represent that they have the full authority to lease the
said property to LESSEE, and that the said property is and will be free from
any encumbrance and is and will not be bound by prior and future agreement with
third parties.
IN WITNESS, WHEREOF, the parties have set their
hands on this ________________________ 2015 at ______________________, Philippines.
LESSOR LESSEE
BY: BY:
_____________________ _____________________
SIGNED IN THE PRESENCE OF: _________________________ ________________________
Republic
of the Philippines )
City of
_________________ ) S.S.
Before me a Notary Public for
and in the City of ____________, this _____ day of ______________________, 2015
personally appeared the following:
CTC/ID No. Date and
Place of Issue
LESSOR ___________________ ______________________
LESSEE ___________________ ______________________
known to me to and to me known to be the same
persons who executed the foregoing Contract of Lease, who acknowledged to me
that the same is their true and voluntary act and deed.
WITNESS MY HAND AND SEAL on the
date and place first above written.
Doc.
No. _____;
Page No.
_____;
Book No.
_____;
Series of _____.
