(Contract of Lease - Condominium Unit)

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This Contract of Lease, mae an entere into !" an !et#een:
_____________, a omestic cor$oration %&" or'ani(e an e)istin'
%ner an !" *irt%e of the &a#s of the Re$%!&ic of the Phi&i$$ines, #ith
$rinci$a& office at _____________, Phi&i$$ines an re$resente in this act
!" its __Positition__, __Officer__, +hereinafter referre to as the
,LESSOR,-.
/ an /
_____________, of &e'a& a'e, 0i&i$ino, +sin'&e 1 marrie 1 #io#-, an a
resient of _____________, Phi&i$$ines, +hereinafter referre to as the
,LESSEE,-.
W2TNESSETH: that /
WEREAS, the LESSOR is the o#ner of a conomini%m %nit &ocate at _____________,
more $artic%&ar&" escri!e as fo&&o#s:
+Technica& 3escri$tion of Cono 4nit-
WEREAS, the LESSEE esires to occ%$" the a!o*e/name conomini%m %nit an the
LESSOR is #i&&in' to &ease the same %nto the LESSEE, s%!5ect to the terms an conitions
herein!e&o# set forth6
NOW, TEREFORE, for an in consieration of the fore'oin' $remises an the co*enants
hereinafter sti$%&ate, the $arties here!" a'ree as fo&&o#s:
!" Term# This LEASE sha&& !e for a %ration of _________ +____- "ear commencin' from
_____________ an to en on _____________, rene#a!&e at the o$tion of the LESSEE at
s%ch ne# terms an conitions as ma" a'ree %$on !" the $arties6
$" Renta%# The LESSEE a'rees to $a" the LESSOR the month&" renta& fee of Pesos:
__________________________ +P_____________-, Phi&i$$ine c%rrenc"6 4$on si'nin' of this
Contract of Lease, the LESSEE sha&& $a" the LESSOR __________ +_____- months7 renta&s in
a*ance to !e a$$&ie on the &ast __________ +_____- months of the term of this LEASE6 The
LESSEE sha&& a&so iss%e ________ +8888- $ost/ate chec9s co*erin' the month&" renta&s
for the %ration of this LEASE6
&" 'e(osit# The LESSEE sha&& a&so $a" the LESSOR the s%m of __________ +_____- months
e$osit of Pesos: _____________ +P___________-, Phi&i$$ine C%rrenc", to '%arantee the
$a"ment of an" ama'e to the &ease $remises, %n$ai %ti&ities an other o!&i'ations to thir
$arties !" the LESSEE %rin' the term of the a'reement, #hich e$osit sha&& !ear no interest6
4n&ess a$$&ie to sai ama'es, %n$ai %ti&ities an other o!&i'ations to thir $arties, sai
e$osit sha&& !e ret%rne to the LESSEE #ithin _________ +_____- a"s after the termination
of this a'reement: Pro*ie, ho#e*er, that the e$osit cannot !e a$$&ie to %n$ai !ac9
renta&s o#e !" the LESSEE $rior to the e)$iration of this a'reement6 0%rthermore, if the
LESSEE *acates the $remises !efore the e)$iration of the $erio of &ease, the tota& amo%nt of
the e$osit an a*ance renta&s sha&& !e forfeite in fa*or of the LESSOR6
)" Association 'ues# Association %es $er month of Pesos: _____________ +P___________-,
Phi&i$$ine C%rrenc" or as ma" !e etermine !" the Association from time to time, inc&%in'
interest or $ena&ties that ma" !e im$ose for &ate $a"ment, sha&& !e for the acco%nt of the
LESSEE6
*" Use of t+e ,remises# The $remises sha&& !e %se e)c&%si*e&" for resientia& $%r$oses on&" of
the LESSEE an the immeiate mem!ers of +his1her- fami&" an sha&& not in an" #a" !e %se
for an" i&&e'a& or %n&a#f%& acti*it" or to 9ee$ materia&s, chemica&s an other matters consiere
as fire ha(ars or n%isance to the !%i&in'6
-" .m(ro/ements# The LESSEE sha&& not ma9e an" a&teration, str%ct%ra& chan'es or
im$ro*ement in the &ease $remises #itho%t the $rior #ritten consent of the LESSOR6
Ho#e*er, at the termination of the &ease, the same not ha*in' !een rene#e !" the $arties,
the LESSEE sha&& restore the &ease $remises in its ori'ina& state e)istin' at the
commencement of the a'reement6 Restoration of the LEASE3 PREM2SES sha&& !e for the
e)c&%si*e acco%nt of the LESSEE6 An" im$ro*ement after the &ease is terminate an after the
LESSEE sha&& ha*e *acate the $remises sha&& !e&on' to the LESSOR6
0" Faci%ities# A&& char'es for #ater, e&ectricit", te&e$hone, association %es an other $%!&ic
%ti&ities %se in the &ease $remises as #e&& as 5anitoria& an sec%rit" ser*ices or an" other
char'es as ma" !e im$ose !" the !%i&in' aministrator of the conomini%m !%i&in' sha&& !e
for the acco%nt of the LESSEE6 The LESSEE here!" '%arantee the $rom$t $a"ment of an"
an a&& char'es heretofore mentione as the" fa&& %e6 An" e&a" in the $a"ment thereof sha&&
constit%te a materia& !reach of this a'reement6
1" .nsurance: The LESSOR sha&& ins%re the &ease $remises a'ainst fire6 Sho%& the &ease
$remises !e ama'e !" fire, earth:%a9e, storm or an" fort%ito%s e*ents to the e)tent that the
same !e renere %ntena!&e this a'reement sha&& !e a%tomatica&&" cance&e an the e$osit
as #e&& as the %n%se $ortion of the a*ance renta&s !e ref%ne #ithin _____________
+_______- a"s, min%s an" %n$ai o!&i'ation6
2" Re(airs# The LESSEE sha&&, %rin' the %ration of the &ease, ma9e a&& minor re$airs on the
&ease $remises to $reser*e the same in ser*icea!&e or tenanta!&e conitions at the LESSEE7s
e)$ense e)ce$t re$&acement of $arts %e to nat%ra& #ear an tear6 The LESSEE, ho#e*er,
sha&& 'i*e a*ance #ritten notice to the LESSOR of Ten +;<- a"s $rior to %nerta9in' an"
minor re$air6 A&& ama'es ca%se to the &ease $remises %e to the fa%&t, mis%se,
care&essness, an1or ne'&i'ence or on acco%nt of the %se thereof !" the LESSEE an other
occ%$ants therein sha&& !e mae 'oo an re$aire !" the re$airs one6 Sho%& the LESSEE
fai&s to ma9e the necessar" an a$$ro$riate re$airs #ithin fi*e +=- a"s from eman, the
LESSOR sha&& %nerta9e the neee re$airs an sha&& char'e the costs thereof to the
LESSEE6
!3" .ns(ection of t+e ,remises# To ens%re that the &ease $remises is !ein' maintaine in 'oo
an tenanta!&e conitions, the LESSOR or his a%thori(e re$resentati*e is here!" 'i*en the
ri'ht after %e notice, to enter an ins$ect an" $art of the &ease $remises %rin' reasona!&e
ho%rs an as the occasion thereof mi'ht re:%ire6
!!" Assi4nment and Su5-Lease# The LESSEE here!" sha&& ha*e no ri'ht to assi'n or transfer its
ri'hts, interest an o!&i'ations %ner the &ease contract or s%!/&ease contract $remises or an"
$ortion thereof to an" $erson or entit" #itho%t the $rior #ritten consent of the LESSOR6
!$" .n6ur7 or 'ama4e# The LESSEE here!" ass%mes the f%&& res$onsi!i&it" for an" ama'e #hich
ma" !e ca%se to the $erson or $ro$ert" of an" thir $erson in the &ease $remises %rin' the
%ration of the &ease6 LESSEE f%rther !ins himse&f to ho& the LESSOR free an harm&ess
from ama'es as a res%&t thereof, %n&ess s%ch ama'e or &ia!i&it" arose o%t of str%ct%ra& or
other inherent efects in the &ease $remises or is %e to the fa%&t of the LESSOR, his a'ent or
re$resentati*es6
!&" Sa%e of Leased ,remises# The LESSEE reco'ni(es the ri'ht of the LESSOR to se&& or
other#ise con*e" o#nershi$ of the &ease $remises to an" other intereste $art", $ro*ie the
LESSEE7s ri'hts %ner the &ease are res$ecte6
!)" a8ardous and ,ro+i5ited 9ateria%s# The LESSEE sha&& not 9ee$ or store in the &ease
$remise an" ha(aro%s an o!no)io%s s%!stance or inf&amma!&e materia& or s%!stance that
mi'ht constit%te a fire ha(ar or other chemica&s an materia&s or $rohi!iti*e r%'s in *io&ations
of the &a#s of the Phi&i$$ines6
!*" Ru%es and Re4u%ations# The LESSEE !ins himse&f to com$&" #ith the e)istin' r%&es an
re'%&ations $rom%&'ate !" the !%i&in' aministrator an1or association an an" other
en*ironmenta& or other &a#s, orinances, r%&es an re'%&ations a$$&ica!&e to the &ease
$remises6
!-" :io%ations# The LESSOR ma", at this o$tions, consier this a'reement a%tomatica&&"
rescine an cance&e, #itho%t nee of an" co%rt action, %$on ten +;<- a"s notice 'i*en to
the LESSEE !ase on an" of the fo&&o#in' 'ro%ns:
a6 0ai&%re of the LESSEE to $a" t#o +>- months a*ance renta& an other !i&&s or char'es
therefore mentione as the" fa&& %e for an" reason #hatsoe*er #ithin the $erio to $a"6
!6 0or an" *io&ation mae !" the LESSEE or its a'ents an re$resentati*es of an" of the
terms an conitions sti$%&ate in this contract6
c6 2n case the &ease $remises sha&& !e *acate or a!anone for a $erio of thirt" +?<- a"s
#itho%t $rior #ritten notice to the LESSOR6 Conse:%ent&", the LESSOR is here!" $ermitte
a%thori(e !" the LESSEE to enter the $remises, either !" force or other#ise, #itho%t
!ein' &ia!&e to $rosec%tion therefor6
4$on termination of the contact of &ease !ase on an" of the fore'oin' 'ro%ns an %$on
eman, the LESSEE sha&& immeiate&" *acate an $eacef%&&" s%rrener $ossession of the
&ease $remises to the LESSOR or his %&" a%thori(e re$resentati*e6
!0" Remedies# 2n aition to the $ro*isions of the $roceein' $ara'ra$h, the LESSEE here!"
ac9no#&e'es an reco'ni(es the ri'ht of the LESSOR to a*ai& or resort to an" or a&& of the
fo&&o#in' remeia& meas%res #itho%t nee of co%rt action:
a6 2n case of fai&%re of the LESSEE to $a" or sett&e an" %e an %n$ai o!&i'ations +renta&s,
e&ectricit", #ater, te&e$hone, association %es etc6- as $ro*ie for %ner this &ease contract
, the LESSEE here!" a%thori(es the LESSOR, #ho is here!" 'i*en the ri'ht, to isconnect
a&& faci&ities s%ch as !%t not &imite to isconnect a&& faci&ities s%ch as !%t not &imite to
e&ectricit", te&e$hone, #ater in the &ease $remises #itho%t nee of f%rther notice to the
LESSEE6
!6 Li9e#ise, %nti& the aforesai %n$ai o!&i'ations are $ai or sett&e, the LESSEE here!"
'i*en the ri'hts, to re/renter the &ease $remises, remo*e a&& $ersons therefrom, ta9e
$ossession of an" of a&& f%rnit%re, fi)t%res an e:%i$ment7s fo%n thereon or therein an1or
$a&oc9e the oor of the $remises6
c6 Moreo*er, !" #a" of a sec%rit" or to sec%re the $a"ment of an" of the %n$ai o!&i'ations of
the LESSEE , the LESSEE consents an a%thori(es the LESSOR to retain $ossession of
an" of a&& the f%rnit%re, fi)t%res an e:%i$ment7s that ma" fo%n on the $remises as
!e&on'in's to the LESSEE %nti& s%ch time that a&& the %n$ai o!&i'ations of the LESSEE are
$ai or sett&e6
6 2f after ten +;<- a"s from the ate the LESSOR sha&& ha*e ta9en $ossession of the
aforesai f%rnit%re, fi)t%res an e:%i$ment !" #a" of sec%rit", the LESSEE sti&& fai&s to $a"
or sett&e its %n$ai o!&i'ations to the LESSOR the LESSEE here!" consents an
a%thori(es the LESSOR to se&& !" #a" of $%!&ic or $ri*ate sa&e an" or a&& the f%rnit%re7s
fi)t%res e:%i$ment as ma" !e s%fficient to $a" or sett&e the &essee7s %n$ai o!&i'ations $&%s
the accr%e interests an attorne"7s fee e:%i*a&ent to >=@ of the tota& amo%nt %e an
%n$ai6 A&& e)$enses that ma" !e inc%rre in the sa&e sha&& !e for the acco%nt of the
LESSEE6
0or $%r$oses of se&&in' the aforesai $ro$erties, the LESSEE here!" irre*oca!&" a$$oint the
LESSOR as its attorne"/in/fact to se&& an is$ose of an" or a&& of the aforesai the $ro$ert" of
the LESSEE in a $ri*ate or $%!&ic sa&e at a $rice as ma" !e etermine to !e 5%st an
reasona!&e !" the LESSOR an to a$$&" the $rocees therefrom to an" or a&& the %n$ai
o!&i'ations of the LESSEE6
2f the sa&e $rocees sho%& $ro*e to !e inae:%ate to f%&&" $a"er sett&e the %n$ai o!&i'ations
of the LESSEE, the LESSEE sha&& remain &ia!&e to the LESSOR for an" of the eficienc"6
Sho%& the $rocees of the sa&e of an" of the aforesai $ro$erties !e s%fficient to $a" or sett&e
a&& of the &essee7s %n$ai o!&i'ations, the LESSEE ma" 'et !ac9 its other $ro$erties not so& !"
the LESSOR6 2f after thirt"+?<- a"s from #ritten notice of the LESSOR irecte to the &ast
9no#n aress of the LESSEE, the LESSEE sti&& fai&s to 'et !ac9 the remainin' $ro$erties,
sai $ro$erties sha&& then !e eeme a!anone in fa*or of the LESSOR6
The a!o*e en%merate remeies o$ro*e for the LESSOR sha&& not !e e)c&%si*e, !%t sha&& !e
c%m%&ati*e an #itho%t $re5%ice to an" co%rt action that ma" !e instit%te !" the LESSOR for
an" ca%ses of action that ma" arise %ner this contract of &ease6
!1" Attorne7;s Fee# 2n case the LESSOR resorts to 5%icia& action !ase %$on or in connection #ith
this &ease contract, the LESSEE here!" a'rees to $a" attorne"7s fee e:%i*a&ent to
_____________ +_______@- $ercent of the tota& amo%nt in*o&*e $r c&aime !" the LESSOR
as a'ainst the LESSEE $&%s a&& co%rt e)$enses an1or costs of &iti'ation6
!2" :enue# A&& co%rt actions from this contact of &ease sha&& !e fi&e on&" in the $ro$er co%rts of
_____________, Phi&i$$ines to e)c&%sion of a&& other co%rts6
$3" Time of Essense# Time is the essence hereof an" #ai*er !" the LESSOR of a !reach of an"
term, co*enant or conition herein containe, #hether e)$ress or im$&ie, sha&& not constit%te
of a #ai*er of an" s%!se:%ent !reach thereof, or a !reach of co*enant to $a" the rent so
acce$te6 No #ai*er !" the LESSOR sha&& !e eeme to ha*e !een mae %n&ess e)$resse in
#ritin' an si'ne !" the LESSOR6
.N W.TNESS WEREOF, the $arties ha*e here%nto set their hans, this _____________ at
_____________, Phi&i$$ines6
LESSOR LESSEE
S2ANE3 2N THE PRESENCE O0:
888888888888888888 888888888888888888
+ACKNOWLE3AMENT-