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    Lease Agreement

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    LAWRENCE DE LEON
    This commercial lease agreement is between North Point Aggregates, Inc. as the lessor and Gerard S. Angeles as the lessee. The key terms are as follows: 1) The lease is for one year beginning April 1, 2023 for the premises and equipment of the lessor's plant. 2) The lessee is responsible for costs such as utilities, maintenance, and insurance during the lease period. 3) The lessee must pay a security deposit of 100,000 pesos and monthly rental of 25,000 pesos with two months paid in advance. 4) Various other responsibilities and rights of the two parties are outlined in the 12 clauses of the agreement.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Lease Agreement

    Uploaded by

    LAWRENCE DE LEON
    45 views3 pages
    This commercial lease agreement is between North Point Aggregates, Inc. as the lessor and Gerard S. Angeles as the lessee. The key terms are as follows: 1) The lease is for one year beginning April 1, 2023 for the premises and equipment of the lessor's plant. 2) The lessee is responsible for costs such as utilities, maintenance, and insurance during the lease period. 3) The lessee must pay a security deposit of 100,000 pesos and monthly rental of 25,000 pesos with two months paid in advance. 4) Various other responsibilities and rights of the two parties are outlined in the 12 clauses of the agreement.

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    Lease Agreement

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    This commercial lease agreement is between North Point Aggregates, Inc. as the lessor and Gerard S. Angeles as the lessee. The key terms are as follows: 1) The lease is for one year beginning April 1, 2023 for the premises and equipment of the lessor's plant. 2) The lessee is responsible for costs such as utilities, maintenance, and insurance during the lease period. 3) The lessee must pay a security deposit of 100,000 pesos and monthly rental of 25,000 pesos with two months paid in advance. 4) Various other responsibilities and rights of the two parties are outlined in the 12 clauses of the agreement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    45 views3 pages

    Lease Agreement

    Uploaded by

    LAWRENCE DE LEON
    This commercial lease agreement is between North Point Aggregates, Inc. as the lessor and Gerard S. Angeles as the lessee. The key terms are as follows: 1) The lease is for one year beginning April 1, 2023 for the premises and equipment of the lessor's plant. 2) The lessee is responsible for costs such as utilities, maintenance, and insurance during the lease period. 3) The lessee must pay a security deposit of 100,000 pesos and monthly rental of 25,000 pesos with two months paid in advance. 4) Various other responsibilities and rights of the two parties are outlined in the 12 clauses of the agreement.

    Copyright:

    © All Rights Reserved
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    COMMERCIAL LEASE AGREEMENT

    KNOW ALL MEN BY THESE PRESENTS:

    This Commercial Lease Agreement made on this __ day of ______


    2023, by and between NORTH POINT AGGREGATES, INC., a
    corporation duly registered with the Securities and Exchange
    Commission with office address at Baraoas Norte, Naguilian, La
    Union, as duly supported by its Board of Directors, Board
    Resolution No. 2023-01 dated, 20 March 2023, herein duly
    represented by BERNARD K. ANGELES, president of the
    Northpoint Aggregates, Inc, with address at Bauang Angeles
    Lumber, National Highway, Bauang, La Union, as duly authorized
    by Board Resolution No. 2023-004 issued on 21 March 2023,
    herein after referred to as the LESSOR
    WITH
    GERARD S. ANGELES, of legal age, married to __________ and a
    resident at National Highway, Bauang, La Union, hereinafter
    referred to as the LESSEE under the following terms and
    conditions:

    1. That this lease shall commence on 1 April 2023 for a period


    of one (1) year renewable annually at an annual increase
    rental of 10% provide notice of its extension shall be made in
    writing 30 days prior to the expiration date.

    2. The lease properties shall include the whole plant premises


    inclusive of all the fixed improvement, crushing, moving and
    transport equipment. During the Term of this Agreement, the
    LESSEE has the right of quiet enjoyment of the premises.

    1
    3. All manpower cost, utilities, water, electricity including repair
    and maintenance of the endorsed equipment inclusive of tools
    and spare parts shall be to the account of the LESSEE.

    4. The LESSEE shall provide a security deposit of Php 100,000


    to cover any damages, repairs upon the turnover of the rented
    equipment and facilities. The LESSOR agrees that they will
    refund the LESSEE the deposit, minus any deductions,
    within 30 days of the Lease End Date. The LESSOR will
    explain the reason for any deduction in writing within 30
    days of the Lease End Date.

    5. During the period of the lease, the LESSEE shall be


    responsible for insurance coverage of all the equipment,
    manpower inclusive of mandated employees and employer’s
    share in the SSS/ ECC, PhilHealth and Pag-ibig premiums

    6. The LESSEE must comply with the “Safety First” policy of the
    LESSOR and any resulting accident shall be to the account of
    the LESSEE.

    7. At any time during the lease period, the LESSOR has the
    right to undertake inspection of the facilities and equipment
    during the business hours to check the proper maintenance
    of all the endorsed equipment and tools.

    8. All taxes due including its own business operations during


    the term of the lease shall be to the account of the LESSEE;

    9. That the monthly rental shall be P25,000 pesos with 2


    months advance deposit to cover any unpaid rentals.
    Thereafter, the LESSOR shall have the right to terminate the
    lease for non-payment of any monthly rental due.

    10. The LESSEE shall have no right to sub-lease the properties


    and equipment under this lease agreement. LESSEE may not

    2
    transfer or assign this Lease or any portion of this Lease to a
    third party. Notwithstanding the foregoing, all covenants of
    this Lease shall succeed to and be binding upon any heirs,
    executors, administrators, successors, and assigns of the
    parties.

    11. If LESSEE fails to enforce strict performance of any part or


    sub-part of this Lease, this shall not be construed as a waiver
    of LESSOR's right to enforce the same part or sub-part later
    in time or to enforce any other part or sub-part.

    12. That this Lease Agreement is subject to the conditions set


    forth in the Memorandum of Agreement entered by the
    LESSEE and the LESSOR as duly notarized by Atty.
    ___________________ under Document No. ____ Page No. ____
    Book No. _______ Series of 2023.

    Signed on this __ day of __________ 2023, in the Municipality of


    Naguilian, La Union, Philippines.

    LESSOR: LESSEE:

    Bernard K. Angeles Gerard S. Angeles

    Witnessed by:

    _________________________ _________________________

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