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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:


This CONTRACT OF LEASE executed and entered into the City of Puerto
Princesa, by and between:
JULITA G. HEGEMAN, of legal age, married, Filipino, and a resident of Bgy. San
Manuel, Puerto Princesa City, Palawan, hereinafter called the “LESSOR”
-and-
IRISH PEARL A. BALDERA-ESMALLA, of legal age, married, Filipino, and a
resident of Bgy. San Manuel, Puerto Princesa, Palawan, hereinafter called the
“LESSEE”
WITNESSETH:
WHEREAS, the LESSOR is the absolute and lawful owner of a Commercial
Building, located at Bgy. San Manuel, Puerto Princesa City, Palawan;
WHEREAS, the LESSOR agrees to lease-out the commercial building to the
LESSEE and the LESSEE is willing to lease the same;
NOW THEREFORE, for and in consideration of the foregoing premises, the
LESSOR and the LESSEE hereby accepts from the LESSOR the Leased Premises
subject to the following:
TERMS AND CONDITIONS
1. PURPOSE: That premises hereby leased shall be used exclusively by the
LESSEE for commercial space purposes only;

2. TERM: The term of this lease is for year (2) year, commencing from February 12,
2018 expiring on February 12, 2020, and renewable upon the mutual agreement
of both parties under such terms and conditions as may be agreed upon;

3. RENTAL RATE: The LESSEE shall be bound to pay to the Lessor a monthly
rental rate of TEN THOUSAND PESOS (Php10,000.00). All rental payments
shall be payable to the LESSOR and/or to her representative;

4. DEPOSIT: Upon the execution of this contract, the LESSEE shall deposit unto
the Lessor one (1) month deposit and one (1) month advance equivalent to the
amount of TWENTY THOUSAND PESOS (P20,000.00), Philippine currency.
Wherein the one (1) month deposit shall be applied as rent for the 24 th month
including the repairs of damages if any, and other obligations for utilities;

5. SCHEDULE OF PAYMENT: That the monthly rental shall be remitted every 12th
day of the month. The first monthly payment shall be paid in advance upon
occupation;

6. SUB-LEASE: The LESSEE is prohibited to sublease, assign or transfer her


rights over the leased premises and any portion thereof under any circumstance
whatsoever;

7. PUBLIC UTILITIES: The LESSEE shall pay for the electricity, water and other
facilities used within the leased premises;

8. IMPROVEMENTS: The LESSEE shall not make or cause to be made any


improvements in the premises without the written consent of the LESSOR, if in
case the LESSEE shall introduce improvements all expenses shall be borne by
LESSOR, after the end of said contract shall be demolish by the LESSEE
whatever improvements she made;
9. DAMAGES: That any incident to person or damage to property within the leased
premises shall be borne by the LESSOR and shall be the sole liability of the
LESSEE without liability on LESSOR’S part;

10. MAINTENANCE: The LESSEE shall, at its expense, maintain the lease premises
in a clean and sanitary condition and shall comply with the ordinance of the City
of Puerto Princesa for the legal use of the premises;

11. EFFECT OF CONTRACT This Contract shall be binding upon the parties, their
heirs, assigns and successor-in-interest and supersedes and renders null and
void all previous agreements and undertaking oral or written previously entered
into between the parties covering the Leased Area. No alteration, modification,
novation, addition or any collateral agreement which alters, modifies, novates
and adds to the terms of this Contract shall be valid and binding unless made in
writing signed by the parties hereto.
IN WITNESS WHEREOF, the parties have to hereunto set their hands on this
_________________ at Puerto Princesa City, Philippines.

JULITA G. HEGEMAN IRISH PEARL A. BALDERA-ESMALLA


LESSOR LESSEE
TIN 486-036-643 Passport No. EC0318386

SIGNED IN THE PRESENCE OF:

JOSEPH QUIJANO ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


CITY OF PUERTO PRINCESA ) S.S

BEFORE ME, this _____________________ in the City of Puerto Princesa,


Palawan, personally appeared the parties exhibiting their competent evidence of identity
written below their respective names, known to me to be the same persons who
executed the foregoing instrument, and acknowledged to me that the same are their free
and voluntary act and deed.
The foregoing instrument consisting two (2) pages, including the page on which
this acknowledgment is written refers to a Contract of Lease over the property located at
Bgy. San Manuel, Puerto Princesa City and has been signed on each and every page
thereof by the parties and their instrumental witnesses.
Witness my hand and seal.

Doc. No. _____;


Page No. _____;
Book No. _____;
Series of 2018.