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Contract of Lease (Market) KIBERLY MAYOCYOC 2023
Contract of Lease (Market) KIBERLY MAYOCYOC 2023
This CONTRACT OF LEASE is made and executed in the City of Tabuk, this
day of _______________, 2023, by and between:
RECITALS
WHEREAS,
1. The LESSOR is the absolute and registered owner of the stalls
constructed on the center isle of the provincial road from Rotonda going to
Purok 1, Bulanao, Tabuk City, Kalinga.
2. The LESSEE offers to lease the above-mentioned stalls for business
purposes only and the LESSOR accepts the lease in accordance with the
terms and conditions provided herein.
ARTICLE I
TERMS AND CONDITIONS OF LEASE
TERM. This Contract shall be for a period of nine (9) months or from
March 2023 to December 2023.
ARICLE II
RENT AND OTHER PAYMENTS
RENTAL RATE. The parties hereby agree that the monthly rental of the
stalls shall be FIVE THOUSAND Pesos (Php 5,000.00) Philippine
currency, payable without demand on or before the 5th day of the month at
the office of the LESSOR through THE PROVINCIAL TREASURY.
ARTICLE III
USE AND CARE OF THE PREMISES
ARTICLE IV
IMPROVEMENTS AND/OR RENOVATIONS
IMPROVEMENTS. The LESSEE may, at its own account, renovate or
introduce improvements on the premises provided that such renovations
or improvements shall commence only upon written approval of the
LESSOR.
ARTICLE V
UTILITIES AND OTHER SERVICES
UTILITIES AND OTHER SERVICES. The LESSEE shall pay the
expenses for its power consumption, water consumption, telephone bills
and other utilities on the premises during the term of the Contract. The
LESSEE may likewise operate a generator to be located on the
PREMISES when necessary.
APPLIANCES. the LESSEE shall provide its own air-conditioning units
or system or other necessary appliances in the PREMISES. These air-
conditioning units and other appliances shall be removed by the LESSEE
upon the termination of this Contract.
ARTICLE VI
TERMINATION
SURRENDER OF THE PREMISES. The LESSEE agrees to surrender
the premises and return the possession thereof to the LEDDOR, without
need of judicial action, at the expiration of the term or pre-termination of
the lease by the Lessor in as good condition as reasonable wear and tear
permit without unreasonable delay, devoid of all occupants, furniture,
articles and effects of any kind including all alterations and improvements
which the LESSEE may take in accordance with the provisions of this
Contract of Lease.
VIOLATIONS OF TERMS AND CONDITIONS. In the event of a
violation of any of the material terms and conditions of this Contract of
Lease on the part of either party, the aggrieved party shall notify the party
at fault in writing of such violation and demand that the party at fault cure
or remedy such violation within sixty (60) days from receipt of written
notice. If the party shall have the right to terminate this Contract of Lease
without need of judicial action without prejudice to the return of any
unused portion of any rent payment to the LESSEE, or retention thereof
by the LESSOR as the LESSOR as the case may be.
ARTICLE VII
MISCELLANEOUS PROVISIONS
ACKNOWLEDGMENT