CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract of Lease, made, entered and executed this
_________________________, in the City of Makati, Metro Manila, by and between:
Ireneo Garcia represented by his heir of Legal age, Filipino with residence and postal
address at _______ _________________, hereinafter referred to as the LESSOR,
-

and

_____________________________________, of Legal Age, Filipino with residence and

postal address at ________________________________________________, hereinafter
referred to as the LESSEE.

WITHNESSTH:
The LESSOR hereby agrees to lease unto the LESSEE and the LESSEE hereby agrees
to lease the property more particularly designated as a commercial space located at
7609 Dela Rosa St., Pio Del Pilar, Makati City subject to the following conditions:
1. The term of the lease shall be for a period of One (5) year(s) commencing
from October 15, 2016 and to expire on October 15, 2021.
2. The monthly rental for the said commercial space duly owned by the LESSOR
shall be Fifteen Thousand Pesos (P 15,000) for a period of 5 years, and it will
be increased by Twenty Percent (20%) yearly on the succeeding years of the
duration of the Lease and payable in cash on advance monthly basis;
3. The LESSEE shall pay unto the LESSOR a guarantee/security deposit
equivalent to Two (2) months rental in cash to guarantee the LESSEEs faithful
compliance with the terms and conditions of this agreement and advance
rental equivalent to Two (2) month rental;
4. The LESSOR shall applied the Two (2) months deposit for whatever expenses
needed for repairs of damages will occur on the property during the period of
lease and the lessee shall defray at this own expense the monthly bills for
water, electricity, gas, garbage, security guard, telephone and other services
in the leased premises/unit;
5. The LESSEE shall not make or cause to be made by any improvements in the
premises without prior written consent of the LESSOR, it is being understood
that such improvements shall be in the sole expenses of the LESSEE, and any
permanent structures to be constructed/erected independently should be
removed upon the expiration of the contract;
6. The LESSEE shall not directly or indirectly sub-lease, assign or transfer his/her
right under this agreement to a third party or parties, without prior approval
of the LESSOR;
7. The LESSEE; shall allow the LESSOR or his duly authorized representative to
inspect the condition of the premises/unit at a reasonable time and in

convenient manner to the LESSOR; to exhibit the leased premises to

perspective tenants within Thirty (30) days prior to the expiration of this
agreement;
8. The violation of the term of payment of rentals such as the failure of the
LESSEE to pay the rental of Two (2) months, the LESSOR shall have the
absolute right to close or padlock the doors of the lease units and the
properties of the LESSEEs shall be sold and the proceeds will be applied to
his/her outstanding obligation. No criminal or civil liability on the part of the
LESSOR will be incurred.
9. In case of court litigation by virtue of non-payment of the agreed rental or
any breach of this agreement by the LESSE, the LESSOR shall have the right
to collect n amount equivalent to Twenty percent (20%) of the total rental
due; plus one hundred thousand pesos as penalty for the breach of the
contract by the LESSEE.
10.Security deposit shall be refunded after sixty (60) days when all monthly bill
receipts such as telephone, electricity, water, and other dues are settled.

IN WITNESS WHEREOF, we have hereunto fixed our hands this _____________201__ at

Makati City.

______Ana Garcia ___

_
LESSEE

__Ronnie N. Navarrete
LESSOR

SIGNED IN THE PRESCENCE OF:

______________________________

______________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

CITY OF PARANAQUE

)
) s.s.

Before ME, a Notary Public for and in the City of Makati, this _____________________
personally came and appeared:

NAME
ISSUED

GOVT Issued ID

DATE/ PLACE

All known to me be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their own free act and deed.
This instrument refer to a Contract of Lease consisting of Two (2) papers signed by
the parties on the left hand margin of page One (1) and on the space provided in
page Two (2) with their instrumental witnesses.

WITNESS MY HAND AND SEAL, the day, year and place first above-written.

Doc. No.:__________________
Page No.:__________________
Book No.:__________________
Series of 201__.