|
IX LEASE
Form No. 1--Contract
of Lease Simple Form
Form No. 2--Contract
of Lease Commercial Building
Form No. 3--Contract
of Lease Condominium Unit
Form No. 4--Contract
of Lease of Hacienda
Form No. 5--Extension of Lease
Form No. 1--Contract
of Lease Simple Form
(Contract of
Lease Simple Form)
CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This Contract of Lease made and entered into by
and between:
_____________,
of legal age, Filipino, (single / married /
widow), and a resident of
_____________, Philippines, (hereinafter referred to as the "LESSOR");
- and -
_____________,
of legal age, Filipino, (single / married /
widow), and a resident of
_____________, Philippines, (hereinafter referred to as the "LESSEE");
WITNESSETH That:
WHEREAS, the LESSOR is the owner of a
certain parcel of land situated at
_____________, Philippines, more particularly described as
follows:
(Technical Description of Property)
WHEREAS, the
Lessor desires to
lease the afore-described property in favor of the LESSEE and the
LESSEE accepts the lease subject to the terms and conditions herein
set forth.
NOW, THEREFORE, for and in consideration
of the terms and conditions mutually agreed upon by the parties, the
LESSOR hereby lease unto the LESSEE, his heirs, successors and
assigns, the above-described parcel of land subject to the following
terms and conditions, to wit:
1. That the term of this lease shall be for a
period of _____________ (_____)
(years/months) to commence upon the
signing of this Contract and shall be renewable for another
_____________ (_____)
(years/months) at the option of the
LESSEE, and thereafter renewable upon mutual agreement of the
parties;
2. That the monthly rentals on the leased
premises above-mentioned shall be
__________________________ (P___________),
Philippine Currency for the first
_____________ (_____)
(years/months) of this agreement,
which shall be increased by
__________________________ (P___________)
every _____________ (_____)
(years/months) thereafter. The
rentals shall be paid by the LESSEE to the LESSOR on a monthly basis
payable on or before the _______th
day of the every month;
3. That upon the signing of this Contract, the
LESSEE agrees to pay advanced rentals for
_____________ (_______)
months;
4. That the LESSOR shall pay the real property
taxes levied of the leased premises corresponding to the
aforementioned parcel of land while the LESSEE shall pay the real
property taxes levied on the building and other improvements that
shall be introduced by the latter;
5. It is expressly agreed by the parties herein
that any fixed improvements or renovations that will be introduced
in the subject stall shall become the property of the LESSOR after
the expiration of the term of this Contract.
IN WITNESS WHEREOF, the parties have
hereunto affixed their signatures this
_____________ at _____________,
Philippines.
LESSOR
LESSEE
SIGNED IN THE PRESENCE OF:
__________________ __________________
(ACKNOWLEDGMENT)
Form No. 2--Contract
of Lease Commercial Building
|
