CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract made and entered by and between:

(lessor)., located at Sta. Rosa, Olango Island, Lapulapu City, represented by its owner, _____, of
legal age, Filipino, single and resident of address, hereinafter referred to as the LESSOR,

And

lessee, of legal age, Filipino, single and resident of ____________________________,

hereinafter referred to as the LESSEE,

WITNESSETH:

The LESSOR hereby leases unto the LESSEE, and the latter hereby accepts in lease from the
former, Unit 7 Arcade as Ticketing Office & Laundry Shop, with its corresponding monthly rental, under
the following terms and conditions:

1. That the lease contract shall be for the period of One (1) year starting from February 1, 2019 to
January 31, 2020 and renewable thereafter upon agreement of the parties;
2. That the monthly rental for the unit shall be FOUR THOUSAND FOUR HUNDRED SIXTY SIX
PESOS & 98/100 (P 4,466.98) payable every 1ST day of the month;
However incase of delay or default in the payment of monthly rental when due, a penalty of
twelve percent (12%) per annum shall be imposed. After sixty (60) days of nonpayment of the
amount and the date agreed, it shall be lawful for the LESSOR to exercise full possession of
rented premises.
3. That the LESSEE shall shoulder the five per cent (5%) withholding tax and correspondingly remit
the same to the Bureau of Internal Revenue for the credit if the LESSOR;
4. That upon execution of this contract, the LESSEE shall pay the LESSOR the sum of SEVENTEEN
THOUSAND SEVENTEEN PESOS & 08/100 (P 17,017.08) representing Two (2) months/s deposit,
one (1) month Advance Rental and one (1) month Security Deposit for unpaid Utilities;
5. The LESSEE shall be responsible for the observance of sanitary and electrical regulations required
or imposed or may be imposed by the government.
A common monthly charge of P 200.00 for garbage disposal, electric consumption and janitorial
maintenance of the common area particularly the parking area and premises outside the leased
area.
6. That the LESSEE has the option to pre-terminate this contract whenever the situation demands.
The LESSEE, however, must give a written notice to the LESSOR at least two (2) months prior to
the intended termination date of the contract so as not to forfeit the deposit as stated above;
7. That the monthly electric, water, and telephone bills and other rates payable during the term of
this contract shall be paid by the LESSEE;
8. That the LESSEE shall not directly or indirectly sublease, assign, transfer, convey, mortgage or in
any way encumber its right of lease over the whole or part if the leased properties under any
circumstances whatsoever, without the written consent of the LESSOR;
9. That the LESSEE shall at its expense maintain the leased premises. Ordinary repairs within the
premises that arise in the daily use of the facilities therein shall be for the account of the
LESSEEE while major repairs shall be for the account of the LESSOR. In the event the leased
premises shall be damaged, or destroyed, whether partially or entirely, except in cases of force
 majeure or due to circumstances beyond the control of the LESSEE, the LESSEE shall repair,
restore or reconstruct the damaged property in such a manner that such repair, restoration, or
reconstruction, the leased premises shall be in a good and habitable condition;
10. That alterations, additions or improvements may be made by the LESSEE with the consent of the
LESSOR. Any permanent improvement, addition within the premises or alteration shall become
the property of the LESSOR upon the expiration of the lease;
11. That the LESSEE shall maintain cleanliness of the premises including but not limited to its
sidewalk, toilet facilities and garbage disposal system;
12. That the LESSEE shall not make or suffer any unlawful, improper or offensive use of the premises
or use it other than the purpose for which it is leased. Likewise, the LESSEE shall not bring or
store in the leased premises any inflammable or explosive goods or articles which may expose
the leased premises to fire or increase fire hazards;
13. That in case there is a change/transfer of ownership over the leased premises during the term of
the lease, the LESSOR hereby warrants that the new owner/transferee shall respect all the terms
and conditions of this contract. Violation of this warranty will subject the herein LESSOR to a
penalty equivalent to the amount of two months rental.

IN WITNESS WHEREOF, the parties hereto have set their hands this _____ day of _____ 20___ at
_________________.

Lessor Lessee

REPUBLIC OF THE PHILIPPINES )

City/Municipality of ______ ) SS

BEFORE ME, a Notary Public for and in the place above mentioned personally appeared:

Name CTC # Issued at / Issued on

known to me and to me known to be the same person who executed the foregoing instrument and
acknowledged to me the same is their voluntary act and deed.

WITNESS MY HAND AND SEAL this _____ day of _____________ 20___ at _________________.

Doc No.________
Page No______
Book No. ______
Series of 2018.