CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Biñan,

Laguna, this June 21, 2019, by and between:
 
       
ELIZER LEYVA CAÑAL, of legal age, Filipino, and with address at
Block 5 Lot 9 Melbourne St. Margarita HMS, San Antonio, Biñan City,
Laguna, hereinafter referred to as the LESSOR,
 
-AND-
 
MONTESSA LEYVA CUICO, of legal age, Filipino, and with
address at 948 Ilaya Malaban, Biñan City, Laguna, hereinafter referred to
as the LESSEE.
 

WITNESSETH;
 
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a
commercial bulding situated at 813 Pedro Escueta St. Barangay San Antonio,
Binan City, Laguna;
 
WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE
and the LESSEE is willing to lease the same;
 
FOR AND IN CONSIDERATION OF THE FOREGOING, the LESSOR
leases unto the LESSEE, and the LESSEE hereby accepts from the LESSOR
the LEASED premises, subject to the following: 
 

TERMS AND CONDITIONS

 
1. PURPOSES: That premises hereby leased shall be used exclusively by
the LESSEE for commercial purposes only and shall not be diverted to
other uses.

2. TERM: This term of lease is for THREE (3) YEARS from July 1, 2019 to
July 1, 2022. Upon its expiration, this lease may be renewed under such
terms and conditions as my be mutually agreed upon by both parties. A
written notice of intention to renew the lease shall be served to the
LESSOR not later than seven (7) days prior to the expiry date of the
period herein agreed upon.

3. RENTAL RATE: The monthly rental rate for the leased premises shall
be TWENTY THOUSAND PESOS (P20,000.00), which is payable to the

1
 LESSOR. It is further mutually agreed by the parties that the LESSEE will
pay an amount equivalent to one (1) year, or TWO HUNDRED FORTY
THOUSAND PESOS (P240,000.00), to the LESSOR upon the signing of
this contract.

4. DEFAULT PAYMENT: In case of default by the LESSEE in the

payment of the rent, the LESSOR at its option may terminate this
contract and eject the LESSEE upon proof of prior demand to the
LESSEE and the latter’s refusal to comply.

5. SUB-LEASE: The LESSEE may sublet, allow or permit the leased

premises to be occupied in whole or in part by any person, form or
corporation, provided that the LESSOR has given its written approval.

6. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric,
cable TV, water, Internet, association dues and other public services and
utilities during the duration of the lease.

7. ENJOYMENT OF THE LEASED PREMISES: The LESSOR warrants

and guarantees to the LESSEE the enjoyment and peaceful possession of
the leased premises during the term of this contract without any
interruption by the LESSOR or any other person claiming rights under
him.

8. OWNERSHIP OF IMPROVEMENTS AND PERSONAL

PROPERTIES: All improvements and/or personal properties that the
LESSEE may introduce in the leased premises shall be owned by the
LESSEE exclusively, subject to the condition set forth in the next
paragraph.

None of the stipulations in this contract will be construed as waiver of the

right of the LESSEE on any of its improvements and/or personal
properties, except that the LESSEE recognizes the ownership of the
LESSOR only in so far as the leased premises is concerned.

9. REMOVAL OF PERSONAL PROPERTIES: The LESSEE shall have

the right to remove all personal properties, trade fixtures and pieces of
equipment, whether attached to the leased premises or not, provided that
these the same can be removed without causing damage to the leased
premises.

10. FORCE MAJEURE: If the leased premises shall be damaged by fire

flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen
disabling cause of acts of God or other cause without fault or negligence
of the LESSEE or its agents, servants, or visitors, the damage shall be
repaired at the expense of the LESSOR as soon as the notice is given. If
the leased premises is destroyed as to make it untenantable, without the
fault or neglect of the LESSEE, either party may demand rescission of this

2
 contract. Consequently, all unused advance rentals shall be refunded by
the LESSOR to the LESSEE within fifteen (15) days from demand.

11. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent

may, after giving due notice to the LESSEE, enter the leased premises in
the presence of the LESSEE or its representative at any reasonable hour
to examine the same or make repairs therein, for the operation and
maintenance of the building, to exhibit the leased premises to prospective
LESSEE, or for any other lawful purposes which the parties may deem it
necessary.

12. EXPIRATION OF LEASE: At the expiration of the term of this lease

or cancellation thereof, the LESSEE will promptly deliver to the LESSOR
the leased premises with all corresponding keys and in as good and
tenable condition as the same is now, ordinary wear and tear expected
devoid of all occupants, movable furniture, articles and effects of any
kind.

A penalty of five (5) percent of the monthly rental shall be imposed in case
the LESSEE fails to leave the premises after the expiration of this
Contract of Lease or termination for any reason whatsoever.

13. VENUE OF ACTION: Any action which will arise from this contract
must be filed exclusively in the proper court of Biñan City, Laguna.

14. This CONTRACT OF LEASE shall be valid and binding between the

parties, their successors-in-interest and assigns.
 

IN WITNESS WHEREOF, parties herein affixed their signatures on the

date and place above written.
 
 

 
ELIZER LEYVA CAÑAL                  MONTESSA LEYVA CUICO
LESSOR                                                LESSEE

Signed in the presence of:

___________________ ___________________

3
 ACKNOWLEDGMENT

Republic of the Philippines )

Muntinlupa City )S.S.

BEFORE ME, a Notary Public for and in ______________ on

_______________ personally appeared the following:

Name Identification Card No. Validity

ELIZER LEYVA CAÑAL
MONTESSA LEYVA CUICO

who are known to and acknowledged before me the execution of the foregoing
instrument as their free act and voluntary deed.

WITNESS MY HAND AND SEAL on the date and place first above
written.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2019