Académique Documents
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SHIRLEY F. WISCO, Filipino, of legal age, and with residence and postal
address at No. 3 Gen. Concepcion Street, Caloocan City, hereinafter referred to
as the “LESSOR.”
-and-
RECITALS:
Whereas, the LESSOR is the owner of a parcel of land and all improvements
thereon (i.e. a 5-door apartment structure with commercial and covered parking
spaces, etc.) situated at No. 24-B Matipuno Street, Barangay Pinyahan, Quezon
City, with an area of 643.7 square meters, more or less;
Whereas, the LESSEE will lessee and occupy Unit _____ of the
aforementioned 5-door apartment structure, located at Matipuno Street, with a total
estimated floor area of at least _________square meters, hereinafter referred to
as the “Leased Premises”;
Now therefore, for and in consideration of the rentals and of the mutual
covenants and stipulations hereinafter set forth, the parties hereto have agreed
and do hereby agree as follows:
1. Leased Premises: The LESSOR shall convey unto the LESSEE by way of
lease the subject Leased Premises described above in the recital on an “as
is, where is” basis.
2. Term of Lease: The lease shall be for a period of ONE (1) year
commencing on _______________ and ends on ___________________.
3. Hold-over Provision: If, after the expiration of this lease, LESSEE remains
in possession of the premises, LESSEE shall be a LESSEE from month to
month. As a month to month LESSEE, rent shall be in the amount set by
LESSOR in the manner permitted by law and LESSEE shall be subject to
all provision of this lease which may be applicable and consistent with a
month to month tenancy. The increase of the monthly rental shall be at least
10% of the amount of rent indicated in the expired lease contract. This
clause shall also be applicable for the purposes of renewing this lease
contract.
4. Rental: The LESSEE shall pay the LESSOR monthly net rental for the
Leased Premises amounting to PESOS:
___________________________________, exclusive of VAT and net of
any other tax that may be imposed or collected thereon.
The payment of the aforesaid rental by the LESSEE shall be made via post-
dated checks dated and due every _______day of the month.
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Upon failure to remit the stipulated rental within the above-prescribed
period, or upon dishonor or stop payment of any post-dated checks issued
for conveyance purposes, any unpaid amount shall bear DAILY interest and
penalty of HALF PERCENT (0.5%) compounded monthly to be computed
from the date rentals are due pursuant to the terms hereof until the same is
paid in full by the LESSEE. The above is without prejudice to the right of the
LESSOR to terminate the lease due to such default or delinquency, after
giving the LESSEE ten (10) days prior written notice.
The deposit shall not bear interest. The deposit shall be returned to the
LESSEE less any deductible amount at the expiration of the lease within
NINETY (90) days after the LESSEE has completely and satisfactorily
vacated the Leased Premises in accordance with the terms of this
Agreement. The deposit shall answer for any unpaid and overdue
obligations of the LESSEE under this lease at the expiration thereof,
but shall not be offset against any amount due from the LESSEE
during the term of the lease. The deposit shall also serve as collateral
security for whatever liquidated damages in case the LESSEE
breached or violated this Agreement.
The said deposit shall also act as the UTILITY AND REPAIR DEPOSIT for
the payment of all unpaid utilities (i.e. Meralco, Maynilad, PLDT, etc.) of the
LESSEE at the expiration of this Agreement, as well as for all repairs,
cleanliness and maintenance requirements that the LESSEE refused or
failed to undertake during the term of this Agreement. Unless otherwise
stated, the UTILITY AND REPAIR DEPOSIT shall be governed by the same
stipulations as the above SECURITY DEPOSIT.
6. Purposes: The LESSEE hereby expressly agrees and warrants that the
Leased Premises shall be used exclusively for the following:
NAME RELATIONSHIP
_________________________ __________________________
_________________________ __________________________
_________________________ __________________________
_________________________ __________________________
_____________________ ______________________
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Moreover, the LESSEE shall not use the Leased Premises for industrial or
other purposes not appropriate for the neighborhood and vicinity around it
nor authorized by local government units. Even if the circumstances
warrant, the LESSEE shall not divert or convert the Leased Premises to
other uses without prior written consent of the LESSOR. It is expressly
agreed that if at any time during the term of the lease and without the prior
written consent of the LESSOR, the said premises are used for other
purposes, or LESSEE contravenes the last preceding paragraph hereof, the
LESSOR shall have the right to (a) terminate the lease by reason of such
breach of contract; or (b) increase the rental rate; and/or (c) compel the
LESSEE to stop the new activities being done therein, in addition to
other remedies available to the LESSOR.
It is expressly agreed that the LESSEE shall not start or proceed with any
major repair and/or renovation work nor in any case make alterations or
changes in the electric or plumbing installations, nor introduce any
improvements in the existing structures without the prior written approval of
the LESSOR. Should there be a need for government permits, the LESSEE
shall secure all the necessary permits on his sole account, copies of which
shall be furnished to the LESSOR.
Upon the signing of this Agreement, the LESSEE shall allow the LESSOR
to inspect the entire Leased Premises so that the parties can take note of
the existing condition and status of the present improvements on LESSOR’s
property.
Any and all repairs, maintenance and renovation works, alterations and
changes, and any and all improvements on the Leased Premises shall not
be charged against the LESSOR. At the expiration of this Agreement, they
shall all inure to the benefit of the LESSOR, without any obligation on her
part to reimburse the LESSEE, or to reduce the rentals or deposit due.
9. Third Party Liability: The LESSEE shall hold and render the LESSOR free
and clear from any liability or obligation to himself or to any and all third
persons, including any and all his family or household members,
employees, agents, guests, customers, clients, contractors, government
regulators (e.g. BIR, DOLE, DTI, City Hall, etc.), and other lessees of the
LESSOR, in connection with his use, possession and occupation of the
Leased Premises, and in any and all his transactions, businesses and
activities pertaining thereto. The LESSEE shall also assume full
responsibility for any and all injuries or damages caused to his own person
or property, or that of his family, household, employees, agents, guests,
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customers, clients, contractors, government regulators, and other lessees
of the LESSOR, in relation his lease, occupation and use of the subject
premises.
The LESSOR shall not be liable or responsible for any loss of life or injury
or loss of property suffered by the LESSEE and/or any and all third persons
above-enumerated resulting from whatever fault or negligence, fraud, theft,
robbery, or any other crimes committed inside or within the vicinity of the
Leased Premises, nor from the refusal or failure of the LESSEE to make
any and all necessary and incidental repairs, cleanliness and maintenance
requirements on the Leased Premises.
For this purpose, the LESSEE shall keep and maintain adequate and
appropriate security, health and safety measures inside and within the
vicinity of the Leased Premises, and procure sufficient comprehensive
liability and property insurance coverage from reputable insurers.
10. Taxes: All taxes and other public assessments imposed upon the Leased
Premises, both land & building, shall be for the account of the LESSOR, but
should the LESSEE make alterations and/or improvements, the LESSEE
shall be responsible for those due on any such alterations or improvements.
The LESSEE shall also bear such new or additional taxes and assessments
in case of any change in the stipulated purpose or use of the Leased
Premises. The LESSEE shall exclusively shoulder and pay for the VAT
on rental.
11. Property Insurance: For the entire duration of this Agreement, the
LESSEE shall procure and maintain, at his own expense, a comprehensive
insurance coverage from a reputable insurer that shall protect the Leased
Premises against fire, lightning, earthquake and/or all other acts of nature,
and assign the same to the LESSOR. The LESSEE is encouraged to
procure and maintain additional property insurance coverage to protect his
own insurable interests. Furthermore, the LESSEE is obliged to provide fire
extinguisher as provided by the Fire Code of the Philippines.
12. Damage by Fire or other Casualty: If the Premises are damaged by fire
or other casualty but can be restored to tenantable condition, LESSOR shall
repair the Premises with reasonable dispatch. The LESSEE’s obligation to
pay rent shall be suspended during the time that the Premises remain
untenantable. There will be no suspension of Rent if Tenant can occupy the
apartment without substantial inconvenience. If the Premises cannot be
restored to the tenantable condition within a reasonable time, either party
shall have the right to terminate this lease by written notice to the other
party. However, if such fire and other casualties were caused by the
LESSEE, he/she shall cause the repair and restoration of the property to its
former condition prior to the casualty. Moreover, there will be no suspension
of Rent even if the property remains untenantable.
13. No Right of First Refusal: LESSEE shall have no right of first refusal, or
redemption or preemption in the event the LESSOR decides to sell, donate,
convey, transfer, mortgage or encumber the Leased Premises in any
manner. LESSEE shall also have no right of first refusal in the event the
LESSOR decides to lease out the Leased Premises to third persons upon
the expiration of this Agreement.
14. Penalty and Liquidated Damages: The LESSEE, at the expiration of the
lease or pre-termination thereof, as herein provided, shall promptly deliver
the Leased Premises to the LESSOR in as good and tenantable condition
in all respect as the same now are, devoid of all other occupants, including
all furniture, articles and effects of any kind, PROVIDED, HOWEVER, that
non-compliance on the part of the LESSEE with the terms of this clause will
give the LESSOR the right, at her option, to refuse to accept the delivery of
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the said premises and to compel the LESSEE to pay monthly rent at the
same rate of rental as herein provided, plus 100% thereof as penalty and
liquidated damages every month, until the LESSEE shall have complied
with the terms hereof. This same penalty and liquidated damages shall
likewise be imposed upon the LESSEE in case he shall refuse to leave the
premises (under the terms of this clause) after this Agreement has expired
or is terminated or pre-terminated for any reason.
15. Penalty for late payment: The LESSOR shall have the right to impose an
additional 0.5% per day of the amount of rent as penalty for late payment
until the rent has been fully paid. Late payment shall mean the LESSEE
failed to render payment on or before the period indicated in this contract.
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The LESSEE may pre-terminate this Agreement for any reason upon
THIRTY DAYS (30) advance written notice to the LESSOR subject to the
applicable penalties and forfeitures under this Agreement.
19. Legal Action: The venue for any and all legal actions concerning this
Agreement shall exclusively pertain to the proper courts of Quezon City.
The aggrieved party in any litigation shall be entitled to full reimbursement
from the erring party any and all incidental and necessary costs and
expenses of the suit, litigation, execution and publication, including all court
fees and all professional fees of lawyers.
21. Warranty: The LESSOR hereby warrants that the Leased Premises is free
from any and all liens or encumbrance of whatsoever nature (except for
those annotated on the Certificate of Title), and that she has full right to
lease the same to LESSEE.
The LESSEE warrants that his business is legal and moral and with updated
business and other permits required for the conduct and continued
operation at the Leased Premises. LESSEE further warrants and
undertakes that the Leased Premises is and will not be used for immoral
act or for the conduct of any illegal business or transaction.
The LESSEE also warrants that he shall not bring or store in the Leased
Premises the following: contraband of any kind, subversive materials, illegal
or dangerous drugs, hazardous goods or articles, illegal firearms or
explosive, large quantities of highly flammable or combustible materials,
and the like.
In the event the LESSEE violates any of the foregoing warranties, this
Agreement shall automatically be considered terminated subject to
penalties, damages and forfeitures prescribed herein.
22. Succession: This Agreement shall be binding upon the heirs, executors,
administrators, and successors of the parties hereto.
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_______________________ _______________________
SHIRLEY F. WISCO
Lessor Lessee
Witnesses:
_______________________ _______________________
ACKNOWLEDGMENT
to me known and known to me to be the same person/s who signed and executed
the foregoing Lease Agreement pertaining to Leased Premises situated at No. 24-
B Matipuno Street, Barangay Pinyahan, Quezon City, and acknowledged to me
that the same is executed as their free and voluntary acts and deeds for the uses
and purposes therein set forth.
I further certify that said Agreement consists of 7 pages including this one
and signed by the above-named parties and their witnesses on each and every
page thereof.
Doc. No.
Page No.
Book No.
Series of 2016.