Contract of Lease

CONTRACT OF LEASE
KNOW ALLMEN BY THESE PRESENTS:
This AGREEMENT made and entered into by and between;
JS OPTIMA REALTY VENTURES INC. principal office at Dona Rosario Village, Labogon, Mandaue City,
herein represented by MARYGRACE D. VILLARMENTE, of legal age, Filipino, married, and a resident of
Paknaan Mandaue City, Philippines, hereinafter known as the LESSOR,
___________________, of legal age, FILIPINO, and a resident of____________________, hereinafter
known as the LESSEE.
WITNESSETH:
WHEREAS, the LESSOR, is the true and absolute owner of a property located at
_________________, MANDAUE CITY;
WHEREAS, LESSEE has offered to rent a portion of the above-described property and which offer has
been accepted by the LESSOR, specifically UNIT NO. ___; CAR PARKING NO: _____________
NOW THEREFORE, the LESSEE enters into this agreement, governing the lease, subject to the
following terms and conditions:
1. PERIOD OF LEASE - This contract of lease shall be for a period of_________ (___)
MONTHS/YEAR commencing _______________________, renewable upon written mutual
agreement of the herein parties, exclusively for RESIDENTIAL PURPOSES.
2. RENTAL - In consideration of this lease, LESSEE shall pay to the LESSOR a monthly rental,
with the amount of PHP ____________________ (P________) per month.
3. ADVANCE RENTAL and SECURITY DEPOSIT – The LESSEE shall pay the amount of one (1)
month advance and one (1) month deposit upon the execution of this Lease Contract.
The ADVANCE DEPOSIT shall be applied to the first month of the Lease Term. The Advance
rental shall be forfeited in case of pre-termination. The SECURITY DEPOSIT shall serve as a
security for the faithful compliance by the LESSEE of all terms and conditions of this Contract
and for the return of the leased premises in good and proper condition, and to answer for any
and all repairs or damages to the leased premises, and to pay for charges left unsettled by the
LESSEE, if there be any, for telephone electricity, water and other utilities under this Contract.
The security deposit shall not be applied to any unpaid rental or any other obligations of the
LESSEE to the LESSOR, other than stipulated above.
4. UTILITIES and NECESITIES – The LESSEE shall pay all the charges for Cleaning
deposit ,water bills electrical bills, garbage collection in the leased premise and other utilities.
5. SUBLEASING and CONVEYANCES – The LESSEE shall not sublease, assign, mortgage,
convey or transfer, in any form, his rights to a 3rd party, or any portion thereof.
6. CARE OF THE PREMISES – The LESSEE hereby acknowledged to have received and took
possession of the leased premise in good condition and shall keep the premises in such a
condition as they are at the commencement of the lease with the exception of those damaged
by reasonable use, wear and tear, and those caused by fire and other unavoidable
circumstance not due to the act/acts of the LESSEE, his agent or any person of his employ.
The LESSEE shall insure their own property inside the leased premises to reliable fire
insurance, and the LESSOR is not liable for any loss and damages of life and property of the
LESSEE caused by fire or any accidental cause.
7. IMPROVEMENTS AND ALTERATIONS – The LESSEE may introduce improvements or make

any alterations in the leased premises provided there is prior written notice and consent of the
LESSOR. Provided, however that the introduced improvements that upon the expiration of the
term or its pre-termination, all improvements of whatever nature or kind shall be owned by the
LESSOR without right of reimbursement to the LESSEE. The LESSEE shall not make any
alterations or changes on the common areas of the building.
8. FURNITURES and FIXTURES. That the LESSEE also rented the following furniture and
fixtures inside the unit they are renting, namely:
QUANTITY DESCRIPTIONS
9. SANITATION – The LESSEE shall keep the leased premises clean and in sanitary condition
and shall comply with the requirement of the health authorities in the matter of health and
sanitation.
10. INSPECTION – The LESSEE shall permit the LESSOR during reasonable office hours to enter
and examine the premises and make such repairs as they may deem necessary at the latter’s
expense.
11. BREACH OF CONTRACT – In case the LESSEE should breach the contract, all deposits shall
be forfeited in favor of the LESSOR and the LESSEE shall be liable for the rentals for the
unexpired portion of the lease.
12. NON-PAYMENT of RENT, PADLOCK CLAUSE and RE-POSSESSION – Failure on the part of
the LESSEE to pay one (1) monthly rental shall confer to the LESSOR the right to padlock the
leased premise, re-possess the property and forfeit the advance rentals for the unpaid rentals.
All deposits shall also be forfeited. Provided that, all movables and belongings inside the leased
premise shall be stored subject to storage fees, provided further that, the deposit is sufficient to
answer all the unsettled utility bills and cost of repairs, otherwise the aforementioned movables
and belongings shall be sold by the LESSOR to answer the remaining balance of the unpaid
bills and cost of repairs.
13. VENUE of ACTION and DAMAGES – Any action arising out of this contract shall be filed with
the proper court in the City of Mandaue and should the LESSOR be compelled to resort to court
action for the enforcement of the terms and conditions of this contract, the LESSEE bind himself
to pay the unpaid rentals, excess of unpaid bills and cost of repairs, if any, with the interest of
5% per month, compounded every month, plus P50,000.00 for Liquidated Damages,
P50,000.00 for Exemplary Damages, P50,000.00 for Attorney’s Fees and Litigation cost
IN WITNESS WHEREOF, we have hereunto affixed our signatures this _________________, at Mandaue
City.
JS OPTIMA REALTY VENTURES INC.
MARYGRACE D. VILLARMENTE ___________________________

LESSOR LESSEE
TIN: _________________ VALID ID No.________________________
Signed in the presence of
______________________________ _____________________________
REPUBLIC OF THE PHILIPPINES)
City of Mandaue) S.c.
x-----------------------------------------x
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the City of Mandaue, personally appeared, the above parties
with their identifications., known to me and to me known to be the same persons who personally signed the
foregoing Contract of Lease and who represented to me that their respective signatures on the foregoing
instrument were voluntarily affixed by them for the purposes stated in the instrument and who declared that they
have executed the foregoing instrument as their free and voluntary act and deed.
This instrument consist of three (3) pages including this page wherein the acknowledgment is written
and signed by the parties and their instrumental witnesses on each and every page hereof.
WITNESS MY HAND AND SEAL this ________________________ at Mandaue City, Philippines.
Doc. No:_________
Page. No:________
Book. No:________
Series of_________

Contract of Lease

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CONTRACT OF LEASE

KNOW ALLMEN BY THESE PRESENTS:

This AGREEMENT made and entered into by and between;

7. IMPROVEMENTS AND ALTERATIONS – The LESSEE may introduce improvements or make

MARYGRACE D. VILLARMENTE ___________________________

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