Contract of Lease - Template
Contract of Lease - Template
Contract of Lease - Template
This Contract of Lease entered into by and between xxxx single, of legal
age, Filipino citizen and with residence address at xxxx, hereinafter referred to as
LESSOR,
xxxx, single, of legal age, Filipino citizen and with residence address at 306-
A Hamilton Bldg., Lakeview Manor xxx , hereinafter referred to as LESSEE;
W I T N E S S E T H:
That the LESSOR is the absolute owner and possessor of a parcel of land
located at Barangay Suklayin, Baler, Aurora, more particularly described and
designated in Title No. xxx , consisting an area of xxx( xxx) Sq. Meters, more or
less;
1. That the term of lease is xxx YEARS shall commence on xxx and shall
end on xxx, renewable by mutual agreement under the same terms and
conditions for a period of xxx xx months or until xxx;
2. That the monthly consideration for the lease shall be xxxx, PHILIPPINE
CURRENCY (PhP xx,000.00), exclusive of VAT, and with ESCALATION
rate of xxx (xx%) PER CENT every year;
3. That, upon signing of this contract, the LESSEE shall pay the LESSOR the
amount of xxx PESOS, PHILIPPINE CURRENCY (PhPxxx,OOO.OO) as
ADVANCE PAYMENT of the herein RENTAL at the time the parties sign on
this contract which shall be deducted from the rental payment of the last
twelve (12) months of this Lease Agreement; THEREAFTER, payment of
the monthly rental will start upon occupancy of 50% of the commercial
spaces for lease or whenever all rooms for accommodation are ready,
whichever comes earlier;
4. That the LESSEE shall deposit all payments pertaining to monthly rentals
to LESSORs account at China Bank, Baler Branch on the ______ day of
every month;
6. That the LESSOR shall have the right to terminate this contract should
the LESSEE fail to pay rentals for more than ONE (1) YEAR; and in case of
any violation by the LESSEE of any provision of this contract;
9. That the LESSOR shall shoulder the payment of the Documentary Stamp
Tax that may be charged of this contract; and the Real Estate Tax on the
leased premises throughout the duration of this contract, inclusive of any
Witholding Tax on the same;
10. That the LESSEE shall shoulder the payment of the VAT which are
incidental to his deriving income from his business operations inclusive of
Real Estate Tax on his improvements;
12. That the LESSOR shall specify and put markers referring to the
expanse of the 615 square meters for the lessees information as to the
extent of his lease right on the premises subject of this contract.
NO MORE.
IN WITNESS WHEREOF, the parties have hereunto set their signatures this ______
day of ___________,2016 at ____________________________, Philippines.
LESSOR
LESSEE
__________________________________ __________________________________
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in ____________________________________
personally appeared the following persons, with their respective government Issued
IDs, to wit: