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Assignment 1
Contract of Lease with Option to Purchase
Caron Quiambao, Filipino, of legal age, and residing at 123 J.P. Rizal
Street, Puerto Princesa City;
- and-
Antecedents
1.1 Quiambao shall deposit with VRC P 30,000 upon signing of this
contract.
2.2 The rentals beginning March 1, 2020 and the deposit shall be
credited by VRC as downpayment.
Acknowledgement
- and-
Antecedents
2.1 Mase may exercise the option to purchase at any time within one
year from the signing of this contract.
Acknowledgement
- and-
Antecedents
A. STC's Obligations
1. To pay Sales the sum of Php500,000.00 by way of financial
assistance upon execution of this compromise on 8 February 2019.
B. Officers' Obligations
1. To jointly execute a quitclaim in favor of Sales releasing him and
forever discharging him from any further obligation in connection with his
employment to STC.
C. Sales' Obligations
1. To execute a quitclaim in favor of STC and its officers, releasing
them and forever discharging them from any claim, cause of action, or any
further obligation in connection with his employment to STC.
2. The parties further agree to forever waive all other claims and
counterclaims against each other in the form of damages, attorney's fees,
and costs of suit.
Acknowledgement
Zacarias, Bryan Clark B.
Assignment 1