Contract of Lease

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This Contract of Lease is made and executed this 25th day of September, 2023 in Baguio City,
Philippines by and between ROGELIO O. RILLERA (“LESSOR) and AUVREY T. TORRES
(“LESSEE) # 28 Hamada Rd., Baguio City.
Company Name: SJ Korean Language Learning Academy
The Lessor is the owner of the Land and improvements commonly known as Rogelio O. Rillera
Estate Leasing located at 201 Rillera Bldg., Magsaysay Ave., Baguio City.
The Lessor makes a available for lease a portion of the building located at the fourth floor of the
above-mentioned establishment.
The Lessee desires to lease the leased premises from the Lessor for the term, at the rental and
upon the covenants, conditions and provisions herein set forth.
THEREFORE, in consideration of the mutual promises herein, contained and other good and
valuable consideration, it is agreed.
1. TERM. This Contract of Lease shall be for a period of Two (2) years and shall
commence on September 1, 2023 until October 1, 2025. Should the Lessee desire to
renew this contract. The Lessee shall inform the Lessor Three (3) months prior to expiry
of the lease agreement.
2. RENT. The monthly rental of the leased premises shall be Twenty Five Thousand
(₱25,000.00), withholding tax inclusive, and excluding utilities and services. The
remittance of monthly rental is on every 15th day of the month. An increase of Five
percent (5%) on rental will be applied every two years starting on the affectivity date of
this contract.
3. ADVANCE/DEPOSIT. Upon signing of this Contract, the Lessee agrees to pay the
Lessor the amount of Seventy Five Thousand Pesos (₱75,000.00) as two months
deposit and one month advance.
4. IMPROVEMENTS. The Lessee shall shoulder all repairs and improvements applied to
the leased premises. It is also agreed that any major improvements that will destroy the
premises shall not be removed.
5. UTILITIES. All expenses for electricity, water, cable, internet, telephone, cleaning and
other maintenance expenses shall be for the sole account of the Lessee. The Lessor
shall take responsibility in helping the Lessee avail of the city services specifically
electricity and water services under the Lesse’s name.
6. RETURN OF PREMISES. Upon termination of this contract by reason of expiration or

otherwise herein provided, the Lessee shall immediately vacate the premises and return
its possession in good condition to the Lessor, unless this contract is otherwise
extended, modified or renewed.
7. VIOLATION OF TERLMS AND CONDITIONS OF THIS CONTRACT. Any violation of

the terms provided for in this contract on the part of the Lessee or Lessor shall be
sufficient ground for the termination of this Lease Contract by the aggrieved party. If
termination is at the instance of the Lessor, the Lessor shall return to the Lessee all
advanced but unused rental payments and deposits after deducting any unpaid rentals,
electric, water, cable and telephone bills and damages to the leased premises. If
termination is at the instance of the Lessee, all deposits and advanced rental payments
shall be forfeited in favor of the Lessor as liquidated damages. Pre-termination of lease
is also a violation to this agreement. Should the
8. BINDING EFFECT. This Contract of lease is binding upon the assigns, successors-in-
interest and transferees of both the LESSOR and the LESSEE.
IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed
on the day, month, year and place herein above mentioned
ROGELIO O. RILLERA AUVREY T. TORRES

TIN :442-447163 SSS #:0034-07029759
Lessor Lessee
SIGNED IN THE PRESENCE OF:
ELVIE G. RILLERA MARY ANN LATAGAN
REPUBLIC OF THE PHILIPPINES )

CITY OF BAGUIO ) SS.
ACKNOWLEDGEMENT
BEFORE ME, a Notary Public for and in the City of Baguio on this ____ day of _____________,
personally appeared before me the above-name parties with their competent proofs of identities
indicated above their names and signatures, who are made known to me and to me known to
be the same is their voluntary act and free deed.
This instrument relates to a CONRACT OF LEASE consisting of Tree (3) pages including this
page where the acknowledgement is written, signed by them and their instrumental witnesses
on each and every page thereof in my presence.
WITNESS MY HAND AND NOTARIAL SEAL on the place and date above written.
Doc. No._________
Page No.________
Book No.________
Series of 2023

Contract of Lease

Uploaded by

Copyright:

Available Formats

Contract of Lease

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Contract of Lease

Uploaded by

Copyright:

Available Formats

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

6. RETURN OF PREMISES. Upon termination of this contract by reason of expiration or

7. VIOLATION OF TERLMS AND CONDITIONS OF THIS CONTRACT. Any violation of

ROGELIO O. RILLERA AUVREY T. TORRES

SIGNED IN THE PRESENCE OF:

ELVIE G. RILLERA MARY ANN LATAGAN

REPUBLIC OF THE PHILIPPINES )

You might also like