Professional Documents
Culture Documents
Contract of Lease - Urbiztondo-Yusop-2017
Contract of Lease - Urbiztondo-Yusop-2017
This contract of Lease dated January 11, 2016 (the “Contract”) by and between:
-and-
CAIRODEN B. YUSOP, a Filipino of legal age, single and a resident of Purok 11,
Poblacion, Prosperidad, Agusan del Sur, Philippines, hereinafter referred to as the
“LESSE”.
WITNESSETH: That
WHEREAS, the LESSOR is the owner of one (1) storey Privately Construction
Block Tiendas Nos. 73 and 74, located at Public Market, Prosperidad, Agusan del Sur (the
“Leased Premises’);
WHEREAS, for and in consideration of the payment of the rent herein stipulated and
of the faithful compliance of all the conditions and covenants hereinafter contained, the
LESSOR has agreed to lease unto the LESSEE and the LESSEE does hereby accept under
lease, the Leased Premises which is composed of three (3) spaces, under the following
conditions:
1. Period of Lease
This lease shall be for a period of two (2) years commencing in March 2017 and
ending in March 2019 (‘Lease Period”). This lease is renewable by written agreement
between the parties and under such terms and conditions as may be mutually agreed upon
by them, provided that the LESSEE gives written notice to the LESSOR of its request to
renew the lease at least sixty (60) days before the expiration of this lease. For the
avoidance of doubt, the LESSOR shall not be obliged to agree to the renewal of this
lease, nor shall the LESSOR have any obligation or liability whatsoever to the LESSEE if
this lease is not renewed as a result of the parties being unable to agree upon the terms
and conditions for the requested renewal.
The LESSEE acknowledges having inspected the Leased Premises to his satisfaction
and agrees to accept the Leased Premises as is, in good order and condition.
2. Amount of rent
It is agreed that the LESSEE shall use the Leased Premises for commercial purposes
only;
a. The LESSEE shall keep the Leased Premises in good sanitary and habitable
condition, fair wear and tear excepted, at all times. The LESSEE shall follow such
instructions as may be promulgated by the LESSOR relative to the use, care,
preservation and internal maintenance of the Leased Premises;
b. The LESSEE shall be liable for any damage to the Leased Premises unless it
proves to the satisfaction of the LESSOR that the said damage was not due to the
fault or negligence of the LESSEE, its employees, agents, visitors or customers;
c. The parties hereby agree that the LESSEE shall renovate the aforementioned
building at her own expenses;
If the LESSOR, if their reasonable opinion, determines that any damage to the
Leased Premises is due to the fault or negligence of the LESSEE, its employees,
agents, visitors or customers and the LESSEE fails or refuses to repair the damage,
then the LESSOR may enter the Leased Premises (upon prior notice to the LESSEE)
to effect the appropriate repairs. In such event, the cost of the repairs shall be for the
account of the LESSEE and shall be paid by the LESSEE forthwith on demand.
The LESSOR or his authorized representatives shall, with prior notice to the LESSE,
have the right to enter the Leased Premises during reasonable hours to examine the same, or
make alterations or repairs thereon, or for any purpose which he may deem necessary, and,
during the last one (1) month of the term of the lease, to exhibit the Leased Premises to
prospective tenants.
6. Sublease
The LESSEE may not sublease or sublet the whole or any portion of the Leased
Premises to any party without the prior written consent of the LESSOR.
7. Utility Charges
All charges for water, electricity, telephone, gas and such other public utility services
in the Leased Premises used by the LESSEE ( collectively, Utility Charges”) shall be
for the account of the LESSEE. The LESSEE shall pay the Utility Charges promptly.
8. Termination
If the LESSOR files a suit against the LESSEE to enforce his rights
hereunder, the LESSEE shall be liable to the LESSOR for attorney’s fees, costs of
suit and other related expenses.
Upon the expiration of the period of the lease or any renewal or extension
thereof, the LESSEE shall peacefully vacate the Leased Premises and restore
possession thereof to the LESSOR in as good condition as at the time of delivery to
the LESSEE, excepting ordinary wear and tear. The LESSEE shall turn over to the
LESSOR all keys to the Leased Premises, including all duplicates.
10. Waiver
No waiver by the LESSOR of any of his rights under this Contract shall be
deemed to have been made unless expressed in writing and signed by the LESSOR.
The parties hereto agree on a faithful execution of the provision hereof and to
settle difference that may arise herefrom amicably. Should any controversy arise which the
parties hereto cannot resolve, the same shall be submitted to a group of arbitrators and the
parties hereto shall submit to the decision of the arbitrators.
ACKNOWLEDGMENT
BEFORE ME, this March 23, 2017 at San Francisco, Agusan del Sur, personally
appeared the above-named persons presented to me to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same are their free act and deed.
WITNESS MY HAND AND SEAL, the day, year, and place above-mentioned.