Contract of Lease

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT LEASE is made and executed in the municipality of Kayapa, Nueva
Vizcaya, this _____________________, by and between:
YOLANDA M, BAÑAS of legal age, marred to EMMANUEL BAÑAS, Filipino, and with
address at Purok 4, Brgy. Buenavista, Bayombong, Nueva Vizcaya, herein referred to as the
LESSOR.
- And -
HARDI Q. CATONG, of legal age, married to SHEILANI CATONG, Filipino and with
address at Pampang, Kayapa Central, Kayapa, Nueva Vizcaya, herein referred to as the
LESSEE
WITNESSTH; That
WHEREAS, The LESSOR is the owner of THE LEASED PREMISES, a commercial
property situated at Pampang, Central Kayapa, Kayapa Nueva Vizcaya;
WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the
LESSEE is willing to lease the same;
NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR
lease unto the LESSEE and the LESSEE hereby accept from the LESSOR the LEASED
premises, subject to the following:
TERMS AND CONDTIONS

1. PURPOSE:
That premises hereby leased shall be used exclusively by the LESSEE for commercial
purposes only and shall not be diverted to other uses. It is hereby expressly agreed that if at
any time the premises are used for other purposes, the LESSOR shall have the right to
rescind this contract without prejudice to its other rights under the law.
2. TERMS
This term of lease is for a probationary period of FIVE (5) MONTHS, commencing from
the ________________ and shall terminate on the _____________________. Upon is
expiration, this probationary lease may be renewed under such terms and conditions as my
be mutually agreed upon by both parties, written notice of intention to renew the lease shall
be served to the LESSOR no later than thirty (30) days prior to the expiry date of the period
herein agreed upon.
3. RENTAL RATE:
The monthly rental rate for the leased premises shall be FIFTEEN THOUSAND PESOS
(Php 15,000,00), Philippine Currency. All rental payments shall be directly payable to the
LESSOR.
4. DEPOSIT:
The LESSEE shall remit to the LESSOR upon signing of this contract and prior to move-in
an amount equivalent to the rent of THREE (3) MONTHS or the sum of FOUTY FIVE
THOUSAND PESOS (45,000.00), Philippine Currency, wherein two (2) months shall be
applied as two months advance rental and the other month serves as deposit to answer
partially for damages and any other obligations or dues resulting from violation(s) of any of
the provision of this contract.
5. DEFAULT PAYMENT:
In case of default by the LESSEE in the payment of the rent, the LESSOR at its option ma
terminated this contract and eject the LESSEE. The LESSOR has the right to padlock the
premise when the LESSEE is in default of payment for One (1) month and may forfeit
whatever rental deposit or advances have been given by the LESSEE.
6. SUB-LEASE:
The LESSEE shall not directly or indirectly sublet, allow or permit the leased to be
occupied in whole or in part by any person, form or corporation, neither shall the LESSEE
assigns its rights hereunder to any other person or entity and no right of interest thereto or
therein shall be conferred on or vested in anyone by the LESSEE without the LESSOR’S
written approval.
7. PUBLIC UTILITIES:
The LESSEE shall pay for al of its utilities, such as electric, water, and the likes during the
duration of the lease.
8. FORCE MAJEURE:
If whole or any of the leased premises shall be destroyed or damaged by fire, flood,
lighting, typhoon, earthquake, storm, or any other unforeseen disabling cause of acts of
God, as to render the leased premises during the term substantially unfit for use and
occupation of the LESSEE, then this lease contract may be terminated without
compensation by the LESSOR or by the LESSEE by notice in writing to the other.
9. LESSOR’S RIGHT OF ENTRY:

The LESSOR or its authorized agent shall after giving due notice to the LESSEE shall have
right to enter the premise in the presence of the LESSEE or its representative at any
reasonable hour to examine the same or make repairs herein or for the operation and
maintenance of the building or to exhibit the leased premises to prospective LESSEE, or
for any other lawful purpose which it may deem necessary.
10. EXPIRATION OF LEASE:

At the expiration of the term of this lease or cancellation thereof, as herein provided, the
LESSEE will promptly deliver to the LESSOR the leased premises with all corresponding
keys and in as good tenable condition as the same is now, ordinary wear and tear expected
devoid of all occupants, movable furniture, articles and effects of any kind, at the latter’s
option, to refuse to accept the delivery of the premises and compel the LESSEE to pay rent
therefrom at the same rate plus Twenty Five (25) % thereof as penalty until the LESSEE
shall have complied with the terms hereof. The same penalty shall be imposed in case the
LESSEE fails to leave the premises after the expiration of this Contract of Lease or
termination for any reason whatsoever.
11. JUDICIAL RELIEF:

Should any one of the parties herein be compelled to seek judicial relief against the other,
the losing party shall pay an amount of One Hundred (100) % of the amount claimed in the
complaint as attorney’s fees which shall in no case be less than P50,000.00 pesos in
addition to other cost and damages which the said party may be entitled to under the law.
12. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors in interest and assigns.
IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place above
written.
____________________________ _____________________________
Lessor Lessee
Signed in the presence of:
____________________________ _____________________________
ACKNOWLEDGEMENT
Republic of the Philippines)

Municipality of Kayapa ) S.S
BEFORE ME, personally appeared:
Name CTC Number/ID No Date/Place Issued
Yolanda M. Bañas ________________________ _________________________

Hardi Q. Catong ________________________ _________________________
KNOWN to me and to me known to be the same persons who executed the foregoing
instrument and acknowledge to me that the same is their free and voluntarily act and deed.
This instrument consisting of three (3) pages., including on which this acknowledgement is
written, has been signed on each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
_________________________
Notary Public
Doc. No. ________;

Page No. ________;
Book No. _______;
Series of 2023.

Contract of Lease

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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

TERMS AND CONDTIONS

9. LESSOR’S RIGHT OF ENTRY:

10. EXPIRATION OF LEASE:

11. JUDICIAL RELIEF:

Signed in the presence of:

Republic of the Philippines)

Yolanda M. Bañas _

Doc. No. ________;

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