CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
Sps. ANIANO C. CAVALIDA and BERNABELA M. CAVALIDA, both of legal ages,
Filipino Citizens and with postal address at Panabilan, Nailon, Bogo City, Cebu,
Philippines “LESSOR”, and
Sps. RANDY O. YURAG and JERALYN H. TUL-ID, both of legal age, Filipino citizens,
with residence and postal address at Kawit, Medellin, Cebu, Philippines
hereafter referred as the “LESSEE” .
W I T N E S S E T H:
For and in consideration of the terms and conditions hereinafter set forth , the parties
have agreed as they hereby agree, as follows:
1. The LESSOR is the absolute owner of a two-storey, Casa Verania Town
House Door No. 2, situated at Mondragon Compound, Taytayan, Bogo
City, Cebu, Philippines hereinafter referred to as the “PROPERTY”;
2. The LESSOR hereby agrees to lease to the LESSEE and the LESSEE hereby
agrees to lease from the LESSOR the PROPERTY ;
3. PERIOD OF LEASE: The lease shall be for a period of ONE (1) YEAR, from
the month of February 25, 2017 and will expire February 25, 2018 .
4. RENTAL:
a. The LESSEE agrees to pay the LESSOR a monthly rental of the
property in the amount of Ten Thousand Pesos Only (P 10,000.00)
Philippine Currency, net of any taxes every 25th day of the month;
b. The LESSEE furthermore agrees to pay the LESSOR two (2) months
advance of Twenty Thousand (Php20,000.00) Philippine currency and
one (1) month deposit in the amount of Six Thousand Pesos (P
6,000.00) Philippine Currency, net of taxes, to be paid to any arrears in
rent due to the LESSEE as well as any unpaid utility bills such as
electricity , water, telephone ISP, cable TV, and other used/consumed
services due to the LESSEE. The balance will be returned to the
LESSEE after the deductions of the aforementioned utility bills on or
before two (2) months after the termination of this contract.
5. USED AND CARE OF LEASED PREMISES
a. The premises of the leased PROPERTY have been received by the
LESSEE in good and tenable condition and agrees to keep the same in
such good and tenable condition.That the LESSEE shall not to add
another story to the building/unit;
b. That for safety reasons, the LESSEE shall not use Liquified Petroleum
Gas (LPG) for cooking;
c. That the LESSEE agrees not to make renovations or modifications of
the building/unit outside portion especially the FRONT portion.
d. The LESSEE shall keep the leased premises and all its fixtures inside
the apartment building in good condition. If and when there is
damage that may occur, the LESSEE shall pay for it except for the
ceiling and those damages that are result from natural calamity like
typhoon, flood and earthquake.
e. The LESSEE shall not directly or indirectly sublet, allow or permit the
leased premises to be occupied in whole or in part by any person, form
or corporation, neither shall the LESSEE assign its right hereunder to
any other person or entity and no right of interest thereto or therein
shall be conferred or on vested in anyone by the LESSEE.
6. UTILITIES
a. The LESSEE shall pay the bills and/or charge for after electricity,
telephone and internet services and associated dues/consumed he
consumed on the leased property.
b. The LESSOR shall be responsible for the observance of sanitary and
electrical regulations which may be required or imposed by the city or
municipal government authorities during the period of lease.
c. The maintenance of the cleanliness of the leased premises including
the payment and parking area shall be at the sole account of the
LESSEE.
7. IMPROVEMENTS
a. The LESSEE shall not alter any physical structure of the PROPERTY
leased in any manner as to impair the use of which said properties are
devoted unless the alteration or improvement deems to be very
necessary for the operation of the LESSEE’s residential. Technical
plan of the said proposed improvements or alteration and prior
written request for consent should be submitted to the LESSOR. If
approved, the expenses for such improvements/alteration shall be for
the expense of the LESSEE.
8. OPTION TO RENEW/PRETERMINATION:
a. This contract of lease maybe renewed at the will of both parties to be
communicated in writing by one party to the other thirty (30) days
before the expiration of this Contract of Lease.
b. If for reason, during the effectivity of this Contract of Lease, the
LESSEE pre-terminates the contract, the LESSEE shall give the LESSOR
one (1) month notice of the LESSEE’s intention to pre-terminate the
contract..
9. MISCELLANEOUS
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a. That any violation of the terms and conditions set forth on this contract
shall be a ground for the termination and cancellation of this contract
of lease.
b. In case, the LESSOR decides to sell any or all of the PROPERTY, the
new property owner shall be made to respect the terms and conditions
of this Contract of Lease as maybe applicable and subsisting and such
shall be expressly stated or indicated in the instrument of conveyance
of the PROPERTY to the new owner.
IN WITNESS WHEREOF, the parties have agreed and signed this Contract of
Lease on this __________ at Bogo City, Cebu, Philippines.
Sps. ANIANO C. CAVALIDA and BERNABELA M. CAVALIDA
Lessor
MARINA SRN:6305250001 CRN:006-0107-8997-5
Sps. RANDY O. YURAG and JERALYN H. TUL-ID
PRC #0083718 Lessee VIN:2248-0043-f2788JHT20000
SIGNED IN THE PRESENCE OF: ___________________ and _________________
REPUBLIC OF THE PHILIPPINES)
Province of, CEBU )SS
City of Bogo )
X---------------------------------------/ACKNOWLEDGMENT
BEFORE ME, this ______________in the City of Bogo, Province of Cebu personally
appeared Sps. ANIANO C. CAVALIDA and BERNABELA M. CAVALIDA and Sps.
RANDY O. YURAG and JERALYN H. TUL-ID , known to me to be the same persons
who executed the foregoing contract of lease and acknowledged to me that the same
is their free act and voluntary deed.
This Contract of Lease consisting of three (3) pages, including this whereon this
acknowledgment is written has been signed in every page thereof by the parties and
their instrumental witnesses.
WITNESS MY HAND AND SEAL, on the date of place first-above written.
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 2017.
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