Lease Contract

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This Lease Contract, executed this 4th day of June 2018, is entered by and between:
Hilda Sarmiento Valloso, of legal age, Filipino citizen, and with residence and postal address at T. Cloma
St. Booy, Tagbilaran City, Bohol, hereinafter referred to as the "LESSOR",
-and-
Rampage Inc. , a corporation registered under Philippine Laws, with principal office at (wala me office),
represented by Val Jordan Inting, Filipino, of legal age, residing at 122 Miguel Parras ext. Tagbilaran
City, Bohol, President of Rampage Inc. corporation, hereinafter referred to as the "LESSEE",
WITNESSETH; That
1. LESSOR is the legal owner of a 2-storey commercial building located at Maria Clara Street, Tagbilaran
City, Bohol with full power and authority to enter into a lease thereon or otherwise administer the
same.
2. LESSEE desires to lease from LESSOR a portion of the aforesaid building, and the parties have agreed
to enter into a lease agreement defining all rights, duties, and liabilities of the parties therein.
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS CONTAINED HEREIN, the parties
agree as follows:
1. LEASED PREMISES
1.1 LESSOR agrees to lease and rent unto to LESSEE a portion of the 2nd floor of said building,
with an area of 84 square meters, more or less.
2. PURPOSE OF LEASE
2.1 The LEASED PREMISES shall be used by LESSEE solely in the conduct of the business of
Computer Rental Services, and all activities related thereto.
2.2 LESSEE shall not use the premises for any other purpose nor for any illegal, immoral, or
hazardous activity, whether within or outside the scope of the business of LESSEE.
3. TERM OF LEASE
3.1 The term of this lease shall be for a fixed period beginning June 4,2018 and expiring on June
3,2023, unless sooner terminated for breach of the terms and conditions of this agreement.
This contract may be renewed upon mutual agreement, subject to such terms and conditions
as may be mutually agreed upon.
4. RENT
4.1 LESSEE shall pay the LESSOR monthly rent equivalent to P200.00 per square meter or SIXTEEN
THOUSAND EIGHT HUNDRED PESOS (P16,800.00), inclusive of all applicable government
taxes. The LESSOR shall allow the LESSEE a two month move-in period in order to facilitate
any renovations needed on the leased premises to suit the business requirements of LESSEE
at the expense of the LESSEE. The monthly rental shall be payable without the need of
demand or any act or deed, at the above address of the LESSOR within the first five days of
each month, commencing two months after the execution of this lease agreement, and
continuing each month thereafter during the term of this lease.
4.2 Upon the execution of this agreement, LESSEE shall pay the LESSOR the sum of THIRTY-THREE
THOUSAND SIX HUNDRED PESOS (P33,600.00) as guarantee deposit for the full and timely
performance by the LESSEE of his obligations herein. In the event the LESSEE fails to remit to
the LESSOR the amounts provided in Sec. 4.3, or if LESSEE terminates the lease or otherwise
abandons the LEASED PREMISES prior to the expiration of the original or extended term of
the lease, or violates the terms of this agreement, the said guarantee deposit shall be forfeited
in favor of the LESSOR in the concept of liquidated damages. Otherwise this amount shall be
refunded to the LESSEE at the termination of the lease net of any rental or any amount
payable by the LESSEE to the LESSOR under the terms hereof.
4.3 Upon the execution of this lease agreement, the LESSEE shall pay to the LESSOR SIXTEEN
THOUSAND EIGHT HUNDRED PESOS (P16,800.00), as advance rentals equivalent to one (1)
month which shall be applied to the period corresponding to the last month preceding the
expiration or termination of the lease.
4.4 There shall be a 5% increase in monthly rental for every year after the execution of this lease
agreements, to wit:
- Starting June 4, 2019 = P17,640.00 per month
5. SERVICE AND UTILITIES

5.1 LESSOR shall extend all assistance to LESSEE in securing separate water and electric
connections to the leased space, including execution, signing, and submission of
requirements imposed by the utility companies. The costs of such installations shall however
be for the account of the LESSEE, but any deposit or investment required thereon shall be
endorsed or assigned by the LESSOR in favor of the LESSEE.
5.2 All other utilities required by LESSEE on the premises, including janitorial and telephone
services, shall be obtained by and at the expense of the LESSEE.
6. ALTERATIONS, ADDITIONS OR IMPROVEMENTS

6.1 LESSEE is authorized to renovate the leased premises in accordance with plans and
specifications approved by local authorities, and to suit the business requirements of LESSEE.
LESSEE shall not make other alterations, additions, or improvements on or to the premises
without first obtaining the consent of LESSOR, and all alterations, additions and
improvements that shall be made shall be at the sole expense of LESSEE, and shall remain on
and be surrendered with the premises as part thereof at the termination of this Lease and
shall become property of the LESSOR, without disturbance, molestation, or injury and without
compensation to the LESSOR thereto. Nothing contained in this provision however, shall
prevent LESSEE from removing all machines, equipment and trade fixtures customarily used
in the business of the LESSEE.
7. ACCESS TO PREMISES
7.1 LESSEE shall allow LESSOR or his agents or employees the free access to the premises at all
reasonable times for the purpose of inspecting or of making repairs, additions, or alterations
to the premises.
8. QUIET ENJOYMEWNT
8.1 If LESSEE performs the terms of this lease, LESSOR shall warrant and defend the LESSEE in the
enjoyment and peaceful possession of the premises during the term hereof without
interruption by LESSOR or any person claiming under him.
9. DEFAULT BY LESSOR
9.1 If the LESSOR fails or neglects to perform his obligations under the agreement, then LESSEE
may, after reasonable notice in writing of not less than 30 days, terminate this lease.
10. DEFAULT OF LESSEE

10.1 If any rents shall be and remain unpaid when these rents shall become due, or if LESSEE
violates or defaults in any of the provisions of the Lease, then LESSOR may cancel this lease
by giving the notice required herein, and re-enter the premises, without prejudice to his right
to forfeit the guarantee deposit as provided hereinabove.
11. TERMINATION AND SURRENDER

11.1 LESSEE shall surrender the premises within 30 days from receipt of notice of termination
of this lease, or on the last day of the term or expiration of the lease.
12. REMOVAL OF PERSONAL PROPERTY

12.1 LESSEE shall have the right to remove all personal property, trade fixture and equipment,
whether attached to the premises or not, provided that these items can be removed without
damage to the premises.
13. SUCCESSORS AND ASSIGNS
13.1 The covenants and stipulations of this lease shall be binding on the successors and assigns
of LESSOR and on the successors-in-interest and assigns of LESSEE.
14. NOTICES
14.1 Except as otherwise required by statute, all notices required to be given pursuant to the
provisions hereof may be sent by registered mail, postage prepaid, to the last known address
of the party for whom the notice is intended.
IN WITNESS WHEREOF, the parties have hereunto executed this lease at _______________ this
___day of ________200__.
____________________________________
LESSOR
____________________________________
LESSEE
In the presence of:
____________________________________
____________________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES ) ) S.S.
BEFORE ME this day personally appeared:
Name___________________________________________
Com Tax Cert. No._________________________________
Date/Place of Issue_________________________________
to me known and known to me to be the same person/s who signed and executed the foregoing Lease
Agreement and each acknowledged to me that the same is executed as his free and voluntary act and
deed for the uses and purposes therein set forth.
I further certify that said document consists of (__ ) pages including this one and signed by the
abovenamed parties and the witnesses on each and every page thereof.
IN WITNESS WHEREOF, I have hereunto affixed my signature and notarial seal in , this
____________________.
Doc. No. _____
Page No. _____
Book No. _____
Series of 200_.

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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

5. SERVICE AND UTILITIES

6. ALTERATIONS, ADDITIONS OR IMPROVEMENTS

10. DEFAULT OF LESSEE

11. TERMINATION AND SURRENDER

12. REMOVAL OF PERSONAL PROPERTY

In the presence of:

REPUBLIC OF THE PHILIPPINES ) ) S.S.

BEFORE ME this day personally appeared:

Com Tax Cert. No._________________________________

Doc. No. _____

Page No. _____

Book No. _____

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