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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract made and entered into by and between:

GAMAPHEL REALTY CORPORATION represented by GLENLIEL T.


FLORES of legal age, married, and residing at Unit 1315 Europa Mines View,
Condominium, Baguio City, and hereinafter referred to as the LESSOR.

And
(NAME) of legal age, Filipino and with postal address at (ADDRESS)herein
after referred to as the LESSEE.

WITNESSETH that:

1.1. WHEREAS, the LESSOR is the registered owner of a building of approximately 1300
sqm. located at Camp 7, Baguio City.

1.2. WHEREAS, the LESSEE is interested in leasing the entire commercial lot.

1.3. WHEREAS, the LESSOR is willing and able to lease out the said premises to the
LESSEE.

1.4. Thus, the LESSOR hereby leases unto the LESSEE the rentable lot located at Camp 7,
Baguio City, which the LESSOR is the absolute owner.

1.5. NOW, THEREFORE, for and in consideration of the foregoing premises, and the
mutual covenants hereunder set forth, the parties hereto have agreed as follows:

2.1. PERIOD: That the term of this Contract of Lease is for FIFTEEN (15) Years to
commence on Start Date to terminate End Date renewable at the sole option of the
LESSOR.

3.1. RENTAL: That the monthly rent shall be THREE HUNDRED THOUSAND PESOS
excluding 12% vat payable in advance on or before the 5 th of each and every month
without need for DEMAND.

3.2. The LESSEE shall pay the 5% withholding tax, however, BIR form 2307 supported by
0605 must be submitted to our office for each payment.

3.3. Penalties due to late payments will be subject to a 10% per month compounded interest.

3.4. The basic monthly rent shall be subject to an automatic 5% yearly increase starting on
the second year.

4.1. DEPOSIT: Upon signing of this Contract, the LESSEE shall deposit the equivalent of
Three (6) month’s rent with the LESSOR amounting to ONE MILLION EIGHT
HUNDRED THOUSAND PESOS (Php 1,800,000.00). Under no circumstances shall
the deposit be applied to any rental or arrears. The said deposit shall not earn any
interest, and shall be returned to the LESSEE only after the expiration of the lease.
5.1. MODE OF PAYMENT: To facilitate payment, the LESSEE agrees to pay his rental
from August 1, 2018 to July 31, 2019 with the following check payments:

Month Covered Amount Bank/ Check No.

August 1 to 31, 2018 300,000.00 ______________


September 1 to 30, 2018 300,000.00 ______________
October 1 to 31, 2018 300,000.00 ______________
Novemeber 1 to 30, 2018 300,000.00 ______________
December 1 to 31, 2018 300,000.00 ______________
January 1 to 31, 2018 300,000.00 ______________
February 1 to 31, 2018 300,000.00 ______________
March 1 to 31, 2018 300,000.00 ______________
April 1 to 30, 2018 300,000.00 ______________
May 1 to 31, 2018 300,000.00 ______________
June 1 to 30, 2018 300,000.00 ______________
July 1 to 31, 2018 300,000.00 ______________

Once all postdated checks for the said year has expired, LESSEE shall submit to
LESSOR a new set of post dated checks for the succeeding year.

6.1. BOUNCING CHECK: That the LESSOR is authorized to fence off and barricade the
premises in the event that the LESSEE fails to make good immediately after two (2)
months any check payment that has been declared bounced by the bank.

6.2. Furthermore, an interest of ten percent (10%) compounded shall be imposed per month
of delay.

7.1. ASSIGNMENT OR SUBLETTING: The LESSEE shall have the right to sub-lease,
assign, transfer or encumber the above premises.

8.1. USE OF PREMISES: The use of said rentable space shall strictly be for a petroleum
retail outlet and other related business undertakings only. Furthermore, no illegal
activity shall be permitted within the premises.

9.1. UTILITIES AND SERVICES: The LESSEE shall promptly pay all water and
electricity consumed in the leased premises and submit proof of monthly payment to
the LESSOR, otherwise the LESSOR is authorized to request disconnection of such
services and/or rescind the Contract;

9.2. The proof of payment must be photocopied official receipt and billing statement of the
utility company. These photocopies must be submitted to the LESSOR at least every
three months.

10.1. RIGHT TO INSPECT: That the LESSOR shall have the right to inspect the leased
premises at any reasonable hour of the day or if the case may be, working hours of the
night to check on the condition of the leased premises and for the compliance with the
terms and conditions of the lease contract.

11.1. MAINTENANCE OF PREMISES: The LESSEE shall at all times keep the leased
property safe, free from hazards, clean, sanitary and in a good usable condition.

11.2.Any damage to the property incurred during the course of this contract must be repaired
by the LESSEE and shall be to the account of the LESSEE. This includes, but not
exclusive to, damages caused by the ordinary and extra-ordinary business operations of
the LESSEE, damages caused by the LESSEE’S patrons, damages caused by
unforeseen events and/or damages caused by regular wear and tear.
11.4. Should the LESSEE fail to undertake such repairs or fail to pay for the repair, the
LESSOR reserves the right to terminate this contract and payments and deposits made
therein shall be forfeited in favor of the LESSOR.

12.1. IMPROVEMENTS AND ALTERATIONS: The LESSEE shall not make any
demolitions, alterations, additions or introduce any improvement on the premises
without the prior written consent approval of the LESSOR, and all such improvements
shall belong to the LESSOR at the termination or expiration of the lease, without any
obligation on the part of the LESSOR to reimburse the cost of the same to the LESSEE,
nor for the LESSEE to remove the improvements thereat.

13.1. COMPLIANCE WITH LAW: That the LESSEE shall comply with all laws,
Ordinances and Regulations of the City and National Government in respect to the use
of the occupancy of the premises.

14.1. SAFETY AND SECURITY: At no time shall any noxious or obnoxious substances,
explosives, inflammable materials or other dangerous or prohibited substances or
materials be brought into and/or stored in the leased premises. Any machinery or
equipment to be installed in the leased premises shall strictly comply with all applicable
government rules and regulations therefore.

15.1. PRETERMINATION BY LESSEE: That should this contract be pre-terminated by


the LESSEE for whatever reason, any and all payments and deposits made therein shall
be forfeited in favor of the LESSOR. Furthermore, all permanent improvements shall
automatically become the property of the LESSOR;

16.1. ABANDONMENT: That should the premises be abandoned by the LESSEE or his
representative for the period of thirty (30) days without a written notice to the
LESSOR, the LESSOR is authorized to enter and padlock to secure and take possession
of the property and contents, furniture and improvements shall automatically become
the property of the LESSOR without the necessity or recourse to judicial authority.

17.1. FAILURE OF PAYMENT: That in case the LESSEE shall fail in the payment of
rentals equivalent to the stipulated conditions herein, the LESSOR may terminate this
contract immediately and the LESSEE shall there upon vacate the premises peacefully
and surrender the same to the LESSOR. By virtue of this termination of lease, the
LESSOR shall take possession of the premises including all improvements, furniture,
and fixtures thereat without need of judicial action and is hereby further authorized to
hold by way of attachment any personal property of the LESSEE to answer for all
account due to the LESSOR.

18.1. INDEMNITY: The LESSEE shall hold the LESSOR free and harmless from all suits,
actions, or claims arising out of accidents and/or deaths which shall occur due to the
LESSEE’S renovation of the premises and/or use of the premises. The LESSEE shall
be liable for all acts and omissions of his person, employees and all other persons
allowed access to the leased premises. In the event of any such suit, the LESSEE shall
defray and/or reimburse the LESSOR for such expenses and/or damages sustained in
connection therewith.

19.1. BINDING OF HEIRS AND ASSIGNS: Subject to the provision to this lease contract,
this lease contract shall be binding upon LESSEE’S legal heirs, devisees and creditors
of every kind.

20.1. VIOLATION OF PROVISION: It is hereby agreed that should the LESSEE fail to
uphold any of provision of this Contract of Lease or should the LESSEE violate any of
the said provisions, the LESSOR reserves the right to terminate this Contract of Lease
without the necessity of recourse to judicial authority.
20.2. By virtue of this termination of lease, the LESSOR shall take possession of the
premises including all improvements, furniture, fixtures and all contents thereat without
need of judicial action and is hereby further authorized to hold by the way of attachment
any personal property of the LESSEE to answer for all account due to LESSOR.
Furthermore, LESSEE agree to immediately peacefully vacate the premises else be
liable for damages equaling to Thirty Thousand Pesos (P30,000.00) per day until he or
she does so.

21.1. EXPIRATION OF CONTRACT: Upon the expiration of this lease, the LESSEE may
undertake to secure the renewal of this lease contract. Without a renewed contract and
current contract, the LESSEE expressly agrees and undertakes to peacefully vacate the
premises and surrender possession thereof to the LESSOR without necessity of demand
within seven (7) days from date of expiration of contract. In the event the LESSEE shall
fail to do so, the LESSOR is authorized to enter and padlock, to secure and take
possession of the premises and all contents, furniture, and improvements shall
automatically become the property of the LESSOR without the necessity of recourse to
judicial authority. Furthermore, the provisions of the next preceding paragraph shall be
applicable.

22.1. PROVISIONS FOR SUIT: In case suit is brought to enforce the provision of this
contract the LESSEE agrees to pay damages in the amount o twenty five percent (25%)
of the outstanding obligation, but in no case less than ONE MILLION PESOS
(P1,000,000.00) and for all attorney’s fee plus cost of suit and any other expenses of
litigation. The venue of any suit arising out of this contract shall be at Baguio City.

IN WITNESS WHEREOF, the parties have hereunto set their hand this ______ day
of ______________________________ of 2018 in the City of Baguio.

GLENLIEL T. FLORES
LESSOR LESSEE

__________________________ _______________________
WITNESS WITNESS

REPUBLIC OF THE PHILIPPINES)


)S.S
DONE IN THE CITY OF BAGUIO)

BEFORE ME, a Notary Public for and in the City of Baguio personally appeared:

GLENLIEL T. FLORES with Drivers License Number A01-92-036890 issued


by Land Transportation Office, Tax Identification No. 197-436-948.
with Drivers license Number A01-99-069817 issued by Land Transportation
Office, Tax Identification No. 160-899-622.

Known to me as the same persons and executed the foregoing instrument herein
referred to a Contract of Lease and they acknowledge to me the same as their own free
act of voluntary deed and that each and every page is duly signed by them together with
their witnesses.

IN TESTIMONY WHEREOF, I have hereunto set my hand and affix my notarial seal
this _______ day of ___________________ 2018 in the City of Baguio.

Doc. No. ___________;


Page No. ___________;
Book No.___________;
Series of 2018