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Contract of Lease

This is a contract of lease between Ursula Perez Ibasco and Celso Jay V. Pompa. Ms. Ibasco owns Sari-Sari Stall No. 33 in the Daet Public Market, which she is leasing to Mr. Pompa to operate a sari-sari store for one year, starting on a specified date, at a monthly rental fee of PHP 2,500 to be paid in advance. The contract details the responsibilities of both parties regarding utilities, subleasing, damage to the premises, and use of the property for commercial purposes only.

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Jilian Kate Alpapara Bustamante
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3K views2 pages

Contract of Lease

This is a contract of lease between Ursula Perez Ibasco and Celso Jay V. Pompa. Ms. Ibasco owns Sari-Sari Stall No. 33 in the Daet Public Market, which she is leasing to Mr. Pompa to operate a sari-sari store for one year, starting on a specified date, at a monthly rental fee of PHP 2,500 to be paid in advance. The contract details the responsibilities of both parties regarding utilities, subleasing, damage to the premises, and use of the property for commercial purposes only.

Uploaded by

Jilian Kate Alpapara Bustamante
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CONTRACT OF LEASE

This Agreement made and executed this , in Daet, Camarines Norte, by


and between:

URSULA PEREZ IBASCO, of legal age, single, Filipino citizen, and a resident of
Barangay VI, Diego Liñan St., Daet, Camarines Norte, hereinafter referred to as the
LESSOR; and

CELSO JAY V. POMPA, of legal age, Filipino citizen, and a resident of Daet,
Camarines Norte, hereinafter referred to as the LESSEE;

W I T N E S S E T H:
That the LESSOR is the owner/holder of the rights of SARI-SARI Section Stall
No. 33 of Daet Public Market situated at Daet, Camarines Norte;

That the LESSEE offers to rent and utilize the above-described market stall of
the LESSOR as SARI-SARI STORE, and the latter, be these presents, hereby agrees
to lease the same under the following agreed terms and conditions, to wit:

That this Contract of Lease shall be valid for the period of ONE (1) YEAR
deemed to have started on and expiring on . However, this
contract may be extended or renewed thereafter upon mutual agreement of both
parties;

That the monthly lease/rental fee shall be TWO THOUSAND FIVE HUNDRED
PESOS (Php 2,500), Philippine currency every month which shall be paid in advance
by the LESSEE every 30th day of the month;

That the LESSEE shall pay for the electricity consumption and other utilities
being used in the leased premises;

The LESSEE shall have no right to sublease the premises subject of this lease or
any part or portion thereof to anybody, nor shall have the right to sell, convey, transfer,
or assign the rights hereto acquired to others without prior written consent and approval
of the LESSOR. Violation of this provision shall cause automatic cancellation of this
contract and gives the LESSOR and/or representative an authority to occupy the
premises without need of court action or order;

The LESSEE hereby acknowledges that the premises subject of this lease is in
good and tenantable condition and warrants the same condition up to the termination of
this lease and/or surrender of the premises;

That both parties agree that the LESSEE shall utilize the leased property for legal
and commercial purposes only;

That if the leased premises or portion thereof be damaged or destroyed through


the fault of negligence of the LESSEE and/or his family, guest, friends, visitors, helpers,
or employees, such damage or destruction shall be the responsibility of the LESSEE
who shall pay the value thereof to the LESSOR;
IN WITNESS WHEREOF, both parties have hereunto set their hands this ,
in Daet, Camarines Norte.

URSULA P. IBASCO CELSO JAY V. POMPA


Lessor Lessee

Signed in the presence of:

_________________________ _________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


PROVINCE OF CAMARINES NORTE )SS.
MUNICIPALITY OF DAET )

BEFORE ME, A Notary Public for and in the Province of Camarines Norte, this
_________________, personally appeared the above-named persons, known to me,
and to me known to be the same persons who executed the foregoing instrument which
they acknowledged before me as their free and voluntary act and deed.

This instrument refers to Contract of Lease consisting of two (2) pages including
the page on which the acknowledgment was written, signed by both parties and their
two (2) instrumental witness on every page hereof.

WITNESS MY HAND AND SEAL.

Doc. No. ___________


Page No. __________
Book No. __________
Series of 2016.

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