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Contract of Lease
Contract of Lease
Contract of Lease
-and –
WITNESSETH:
WHEREAS, the parties had duly executed a Lease Contract pertaining to the residential house
and lot located at 2589 16th St., Tambo, Paraňaque City ratified on February 15, 2019 by Atty.
Luisito L. Mirador Notary Public for and in Biňan, Laguna and entered into his Notarial
Register with Doc. No. 24, Page No. 5, Book No. 11, Series of 2019.
WHEREAS, the LESSEE shall build, erect and construct an additional building on the
aforementioned address (hereinafter referred to as the “leased premises”). A copy of the
building plan is hereto attached as Annex “A”.
WHEREFORE, in view of the foregoing premises, both parties have mutually agreed as they
thereby agree as follows:
1. The LESSEE shall pay the sum of TWO MILLION TWO HUNDRED THOUSAND
PESOS (Php2,200,000.00), Philippine Currency, before the resumption and or
continuance of the construction of the building, payable on the following manners,
to wit:
2. The Term of this Supplemental Agreement shall be for a period of FIVE (5) years,
subject to renewal of the contract for another FIVE (5) years as they mutually agreed.
3. Six (6) months prior to the expiration of this Contract, the LESSEE shall notify in
writing the LESSOR his intention to renew the Contract and the renewal is subject to
new negotiation.
4. For the purpose of notification and other notices, subpoenas and other court
processes it is agreed that the LESSOR and the LESSEE may be notify at their
respective address:
LESSEE: ____________________________________________
6. Prior to the expiration of the contract, or six months before the contract expires, the
LESSEE shall express in writing the willingness for an extension of time for the
LESSEE agreement which shall be mutually agreed by both parties.
7. The LESSEE may sublease the said premises to individual or corporation provided
that it shall not exceed to the period for lease agreement and abide on the terms and
conditions stated.
8. CARE OF PREMISES – The LESSEE shall at its own expense, maintain the Leased
Premises in a reasonably clean and sanitary condition, free from noxious odor,
disturbing noises and other nuisances and upon expiration of the term of this
Contract, shall turn-over the Leased Premises and all permanent improvements in as
good conditions as they were at the beginning of the Contract, ordinary wear and
tear excepted.
The LESSEE shall not, without the LESSOR’S written consent, bring into or store in
the Leased Premises any of the following:
a.) Highly inflammable or explosive substances;
b.) Guns and ammunitions except as may be required by duly licensed security
guards or as may be carried by duly authorized firearm holders;
c.) Banned or illegal items or substances;
d.) Stocks or items which are dirty or hazardous to health; and
e.) Items which are noxious, noisy or cause tremor.
Neither shall the LESSEE conduct its business in the Leased Premises in such a way
as to increase fire hazards. Any increase in the rate of the insurance arising from
changes in the manner in which the LESSEE uses the Leased Premises, shall be borne
by the LESSEE, without prejudice to the right of the LESSOR to terminate this
Contract.
12. NON-WAIVER – The failure of either party to insist upon a strict performance of any
of the items, conditions and covenants hereof shall not be deemed as a
relinquishment or waiver of any subsequent breach or default of the terms and
conditions and covenants herein contained, unless expresses otherwise in writing
and signed by the party not in breach or default.
14. VIOLATION - Any violation of the terms provided for this Contract on the part of
the LESSEE shall agree to vacate the premises immediately without written or verbal
notice from the LESSOR.
IN WITNESS WHEREOF, the parties have hereunto set their respective hand in the place and
on the date first above-written.
BEATRIZ B. ESTRADA
Lessor
KUNQUAN TANG WEIHONG LI
Lessee Lessee
__________________ ________________
__________________ ________________
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the ___________________ this ______ day of
April 2019, personally appeared with their respective Competent Evidence of Identity the
following:
Weihong Li ______________________
Both known to me and to me known to be the same persons who executed the foregoing
instruments and they acknowledge to me that the same is their free and voluntary act and deed
as well as that of the persons/corporations that they respectively represent.
This Instrument consist of only two (2) pages, including this page on which this
Acknowledgement is written, duly signed by the parties and their instrumental witnesses on
each and every page hereof.