Contract OF Lease - sample 1 PDF

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Contract OF Lease - sample 1 SAMPLE CONTRACT LEASE...

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CONTRACT OF LEASE This Memorandum of Agreement is made and entered into by and between: PERPETUAL HELP COMMUNITY COOPERATIVE (PHCCI), a cooperative duly registered and existing by virtue of Philippine Laws, with business address at San Jose Ext., Taclobo, Dumaguete City, Negros Oriental, Philippines, duly represented by its Chief Executive Officer CLIFFORDSON T. LARIOSA, hereinafter referred to as the LESSOR; -andKAABAG INSURANCE AGENCY, INC. (KIA, INC.), a corporation duly registered and existing by virtue of Philippine Laws, with business address at San Jose Ext., Taclobo, Dumaguete City, Negros Oriental, Philippines, duly represented by its Chief Executive Officer RAMIL D. REPE, hereinafter referred to as LESSEE. WITNESSETH: WHEREAS, by virtue of the Tri-Party Memorandum of Agreement dated ____________________ entered by and between LESSOR , LESSEE, and Climbs Life and General Insurance Cooperative, LESSOR will provide an office space for LESSEE inside its building located at San Jose Ext., Taclobo, Dumaguete City, Negros Oriental; and WHEREAS, LESSEE is willing to lease the portion of the third floor of the building of LESSOR (hereinafter referred to as Leased Premises). NOW, THEREFORE, for and in consideration of the terms and conditions hereinafter set forth, the parties hereby agree as follows: I.

SUBJECT OF THE LEASE. The subject of this lease is the portion of the third floor (space) of the building of the LESSOR located at San Jose Ext., Brgy. Taclobo, Dumaguete City, Negros Oriental.

II. TERM OF THE LEASE. This lease shall be for a period of ___ years commencing on ______________ until _____________, renewable for another ___ years at the option of the LESSEE. III. MONTHLY RENTAL. The monthly rental of the Leased Premises shall be FIVE THOUSAND PESOS (₱ 3,500.00) , excluding CUSA and Withholding Tax, Philippine currency subject to 10% Annual Escalation Rate beginning on ________________, payable within the first five (5) days of the month. Below is the computation of the monthly rental including the CUSA and Withholding Tax for every year of the contract term: Year 1 2 3

Monthly Rental

CUSA

Withholding Tax

Payable to Lessor

IV. USE AND PURPOSE. The LESSEE hereby expressly agrees and warrants that the Leased Premises shall be used exclusively for office purposes, and the LESSEE is hereby prohibited to use the Leased Premises for any other purposes without the prior written consent of the LESSOR. The LESSEE is likewise prohibited from storing flammable materials which may expose the Leased Premises and the neighborhood to the hazards of fire. V. TRANSFER OF RIGHTS. The LESSEE shall NOT sign, sublease nor in any manner whatsoever transfer its right over the Leased Premises without prior written consent of the LESSOR. In case of sale of the Leased Premises within the period of this Contract, it should be the duty of the LESSOR to notify any prospective buyer of the Leased Premises of the existence of this Contract of Lease.

VI. IMPROVEMENTS & SIGNAGE. The LESSEE shall RENOVATE the Leased Premises at its own expense subject to the agreement that the improvements which form part of the Leased Premises shall pertain or shall belong to the LESSOR at the end of this Contract. However, it is agreed that the LESSEE shall have the right to remove its fixtures and furniture placed within the Leased Premises which is capable of being removed without causing major or substantial damage to the premises. The LESSEE may install a signage or any advertising materials in the Leased Premises without additional rent. VII. SANITATION & REPAIRS. The LESSEE shall keep the Leased Premises in clean and sanitary condition at all times, and LESSOR reserves the right to be allowed access to the Leased Premises during reasonable time of the day to verify compliance therewith. All ordinary repairs within the Leased Premises that arise in the daily use of the facilities therein, including but not limited to electric or fluorescent lamps and faucets, shall be for the sole account and expense of the LESSEE, without right to reimbursement. VIII. DAMAGE TO LEASED PREMISES. In case of damage to the Leased Premises by fire, earthquake, flood, or any other unforeseen event, the LESSEE shall give immediate notice thereof to the LESSOR who will bear the cost of all the repairs. However, the LESSEE shall be liable to the LESSOR for any damage attributable to the act, fault, or negligence of the LESSEE, its employees, agents, customers, and/or guests. IX. UTILITY CHARGES. All expenses from gas, electric gas, electric current, telephone charges and the like, attributable to the LESSEE, shall be for the LESSEE’s exclusive account. X. INSPECTION OF LEASED PREMISES. The LESSOR or its duly authorized representative shall have the right to inspect the Leased Premises at any reasonable time. XI. RETURN OF THE PREMISES. Upon termination of the lease period, or earlier for any reason whatsoever, LESSEE shall immediately vacate the premises and return possession thereof to the LESSOR peacefully unless this lease is extended for another period. XII. REAL ESTATE TAXES. The LESSOR shall see to it that all property taxes due on the aforesaid lot affected by this lease are paid when due. XIII. PRIMACY OF CONTRACT. The LESSOR hereby binds himself to provide in any contract of sale, assignment, mortgage or any agreement constituting an encumbrance on the Leased Premises during the period of this lease that such contract or agreement be subject to this Contract of Lease. XIV. REMEDIAL MEASURE. In case of violation or infringement of any of the foregoing term and conditions by either party, the aggrieved party reserves the right to terminate this Contract of Lease immediately and the erring party shall be liable for any damages, actual and consequential, resulting from such violation or infringement. XV. LITIGATION. Should judicial relief be sought to enforce any right under this Contract, the venue of said action shall exclusively be in the proper courts of Dumaguete City, Negros Oriental, Philippines. IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this _____ day of _______________, 2019 at Dumaguete City, Negros Oriental, Philippines.

ACKOWLEDGMENT REPUBLIC OF THE PHILIPPINES } Province of Negros Oriental } City of Dumaguete } S.S. BEFORE ME, this _____ day of ____________________, 2020, at Dumaguete City, Negros Oriental, Philippines, personally appeared and exhibited to me their respective competent...