Lease Contract (DOC)

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					                                        CONTRACT OF LEASE




KNOW ALL MEN BY THESE PRESENTS:

         This contract of Lease, made and entered into this _____________ day of ___________________
In the city of _________, Philippines, by and between:

     [ LESSOR / FULL NAME ] , of legal age, [ CIVIL STATUS ], [ NATIONALITY ], [ COMPLETE
ADDRESS ],, herein known as the LESSOR.

                        And

     [ LESSEE / FULL NAME ], of legal age, [ CIVIL STATUS ], [ NATIONALITY ], [ COMPLETE
ADDRESS ], herein known as the LESSEE.




                                    W I T N E S S E T H:

     WHEREAS, the LESSOR is the owner of a [ PROPERTY DESCRIPTION ] located at [ PROPERTY
ADDRESS ].

         WHEREAS, the LESSEE desires to lease the above-described property and the LESSOR is willing
to lease the property to the LESSEE under the terms and condition herein provided.

          NOW, THEREFORE, for and in consideration of the premises and of the mutual covenants herein
after stipulated the LESSOR hereby leases to the LESSEE the above-described premises, under the
following covenants and conditions:



       1.      LEASED PROPERTY: For and in consideration of the payment of the rent and compliance
               with all the conditions and covenants hereinafter contained, the LESSOR hereby lets and
               leases unto the LESSEE the above-described property subject to the conditions hereinafter
               set forth.

       2.      This contract of lease shall be effective for a period of [ LEASE DURATION ] commencing
               On [ START DATE ] and ending on [ END DATE ]. The lease maybe renewed under such
               terms and condition, as may be mutually agreed upon by the parties and allowed under the
               existing laws, provided the LESSEE notifies the LESSOR in writing of its intention to renew
               this contract within 30 days before the expiration of the original term. This contract cannot
               be pre-terminated without any justifiable reason and without giving the LESSEE a written
               notice 90 days prior to the intended date of termination.



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3.    The LESSEE shall, during the term of this contract, pay to the LESSOR at his residence,
      without necessity of demand, a monthly rental of P [ AMOUNT ],Philippine currency,
      payable within the first five days of the month for the duration of the lease, without need of
      demand.

4.    That upon signing of this agreement, the LESSEE shall make a deposit with the LESSOR a
      sum equivalent to the rental of two ( 2 ) months without interest, which shall answer for any
      liability that the LESSEE may have in favor of the LESSOR at the termination of this lease.

5.    If for any reason the LESSEE terminates the lease before the period herein agreed upon
      expires, the LESSEE forfeits the entire amount of the said deposit as liquidated damage.

6.    Should the LESSEE default in the payment of the stipulated rentals, he shall be charged
      and required to pay interest at the rate of fourteen (14) percent per annum on all overdue
      payments.

7.    The LESSEE shall use the premises for business purposes.

8.    The LESSEE has been granted permission by the LESSOR to reconstruct and make
      alterations, addition, and improvements to the said premises due to deteriorating condition
      provided in his own expense.

9.    The charge for electricity, water, telephone and all other utilities shall be for the account of
      the LESSEE which he provided.

10.   The LESSEE hereby assumes full responsibility for any injury or damage which may be
      caused to persons or property by any person while remaining either casually or business in
      any part of the premises leased.

11.   The LESSEE shall allow the LESSOR or his representative to enter upon the premises at
      reasonable hours to inspect the same, when necessary, to determine LESSEE’s
      compliance with the terms of this contract.

12.   The LESSEE agrees to return and surrender the leased premises at the expiration of this
      lease in as good condition as reasonable wear and tear will permit.

13.   In the event of breach of the LESSEE of any of the terms , conditions, and obligation under
      this agreement, the LESSOR is entitled to demand upon her to vacate the leased premises;
      and should the LESSOR be compelled to engage the services of counsel or to institute
      judicial proceedings to enforce his rights, the LESSEE shall pay to the LESSORS attorney’s
      fee in an amount equivalent to 25% of the amount claimed to be due hereon, but in any
      case not less than P5,000.00 plus expenses of litigation and costs of suit.

14.   The covenants, terms, conditions, provisions and undertaking in this lease or in any
      renewals thereof shall extend to and be binding upon the heirs, executors, administrators,
      successors, and assigns of the respective parties hereto, as if, they were in every case
      named and expressed, and shall be construed as covenants running with the land; and
      whenever reference is made to either of the parties hereto, it shall be held to include and
      apply also to the heirs, executors, administrator, successors, and assigns of such party, as
      if in each and every case so expressed.


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        15.      Except for Real-Estate tax, any other taxes which maybe payable arising out of this
                 contract, such as, but not limited to the value added tax, shall be for the account of the
                 LESSEE.

        16.      Any or all the rights and powers of the LESSOR under this contract shall not be assigned to
                 any person, corporation, or association.

        17.      This lease contains the entire agreement between the parties and shall not be modified in
                 any matter except by an instrument in writing executed by both parties. If any term or
                 provision of this lease or the application thereof to any person or circumstance shall, to any
                 extent, be invalid or unenforceable, the remainder of this lease, or the application of such
                 terms or provision to person or circumstances other than those as to which it is held invalid
                 or unenforceable, shall not be affected thereby and each term and provision of this lease
                 shall be valid and be enforced to the fullest extent permitted by law.

        IN WITNESS WHEREOF, the parties hereby set there hands this____ day of
        __________________ at Manila, Philippines.



              [ LESSOR / FULL NAME ]                                     [ LESSEE / FULL NAME ]
                     LESSOR                                                     LESSEE

                                      SIGNED IN THE PRESENCE OF


         _________________________                                   __________________________


                                            ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES
(CITY OF MANILA) S.S.


         BEFORE ME, this _____day of ___________________ at the City of Manila, personally appeared the
following with their respective Community Tax Certificates, to wit:
                 NAME                                    CTC                       Date/Place of Issue
[ LESSOR / FULL NAME ]
[ LESSEE / FULL NAME ]

All known to me and to me known to be the same persons who executed the forgoing Contract of Lease which consist
of ___ pages including this page on which this acknowledgement is written, duly signed by them and their
instrumental witness. They further acknowledge to me that the same is their free and voluntary act and deed.

        WITNESS, my hand and seal.


Doc. No.______
Page No.______
Book No.______
Series ______


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