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    Contact of Lease

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    Portgas D Ace
    1) Bernadette Puig is leasing a 20 square meter portion of her commercial/residential building located in Pototan, Iloilo to Rosy Montejo. 2) The lease agreement is for one year from January 12, 2018 to January 12, 2019 and can be renewed with mutual agreement. 3) Montejo will pay P4,250 per month in rent, increasing 5% annually, and deposited P18,000 as a security deposit and advance rent.

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    Contact of Lease

    Uploaded by

    Portgas D Ace
    271 views3 pages
    1) Bernadette Puig is leasing a 20 square meter portion of her commercial/residential building located in Pototan, Iloilo to Rosy Montejo. 2) The lease agreement is for one year from January 12, 2018 to January 12, 2019 and can be renewed with mutual agreement. 3) Montejo will pay P4,250 per month in rent, increasing 5% annually, and deposited P18,000 as a security deposit and advance rent.

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    1) Bernadette Puig is leasing a 20 square meter portion of her commercial/residential building located in Pototan, Iloilo to Rosy Montejo. 2) The lease agreement is for one year from January 12, 2018 to January 12, 2019 and can be renewed with mutual agreement. 3) Montejo will pay P4,250 per month in rent, increasing 5% annually, and deposited P18,000 as a security deposit and advance rent.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    271 views3 pages

    Contact of Lease

    Uploaded by

    Portgas D Ace
    1) Bernadette Puig is leasing a 20 square meter portion of her commercial/residential building located in Pototan, Iloilo to Rosy Montejo. 2) The lease agreement is for one year from January 12, 2018 to January 12, 2019 and can be renewed with mutual agreement. 3) Montejo will pay P4,250 per month in rent, increasing 5% annually, and deposited P18,000 as a security deposit and advance rent.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    The key takeaways are that this document outlines a lease agreement between Bernadette Puig as the lessor and Rosy G. Montejo as the lessee for a portion of a residential/commercial building in Pototan, Iloilo.

    The terms of the lease agreement include a one year period from January 2018 to January 2019, a monthly rental of PHP 4,250 that increases 5% annually, a security deposit and advance rental of PHP 18,000, and conditions for renewal upon mutual agreement of both parties.

    The lessee is responsible for electricity, water, and telephone bills. The lessee must also maintain the premises in a sanitary condition and is responsible for any repairs caused by their fault.

    CONTACT OF LEASE

    KNOW ALL MEN BY THESE PRESENTS:


    This agreement is entered into and executed by and between the following:
    Bernadette Puig for herself, owner of the building Amelita U. Puig of legal age, single and
    residents of Teresa Magbanua St. Municipality of Pototan, Province of Iloilo, hereinafter
    collectively referred to as the LESSOR,
    -and-
    Rosy G. Montejo and prez/general manager of legal age, married, Filipino residing at
    Ledesco Village, Lapaz, Iloilo City.
    WITNESSETH That:
    WHEREAS, the LESSOR is the owner of residential/commercial building situated at Teresa
    Magbanua St. Municipality of Pototan, Iloilo, Philippines
    WHEREAS, the LESSOR is leasing portion of the aforementioned building;
    WHEREAS, the LESSE has offered to lease a portion of the building consisting of TWENTY
    SQUASE METERs (20) square meters, more or less, known as Door 3, and the LESSOR has agreed
    thereto;
    NOW THEREFORE, for and in consideration of the above-premises agree as they hereby
    agree to enter into and execute this agreement under the following:
    Terms and Conditions
    1. Leased Premises- The LESSOR hereby delivers to the LESSEE in good and tenantable
    conditions and the LESSEE accepts a portion of the building consisting of TWENTY SQUARE METERS
    (20) square meters, more or less located at the ground floor, hereinafter referred to as the
    “LEASED PREMISES”. The leased premises shall be CT APPLIANCE .The LESSEE shall not use, permit
    said premises or any part thereof, to be used as permanent for which the premises is hereby leased
    except when allowed by the LESSOR upon her express consent;
    2. Period of Lease- The term of lease contact shall be for the period of one (1) year starting
    from January 12, 2018 to January 12, 2019, subject to renewal upon such terms and conditions
    mutually agreed by the parties. The LESSEE shall undertake to inform the LESSOR of its plan to
    renew the contract sixty (60) days prior to the expiration of the original term. This contract shall
    vacate the leased premises, unless the parties agree to enter into new contract of lease.
    3. Rental- The parties agree that the monthly rental shall be in the amount of Pesos: Four
    Thousand Two Hundred Fifty (4,250) Pesos Philippine. Rental payment shall be due without need
    of any demand every 12th day of each and every corresponding month.
    Parties agree that every year rental shall increase at five percent (5%) from the original
    amount agreed which is as follows:

    Inclusive Dates Monthly Rental


    January 12, 2018 to January 12, 2019 Php 14,250
    4. Deposit and Advance Rental – the LESSEE shall deposit without interest, with the LESSOR
    , the sum of PESOS: Eighteen Thousand Pesos (P 18, 000.00) Philippine Currency, representing the
    agreed two (2) months security deposit and more (1) month advance rental, upon execution and
    signing of this contract.
    The amount so deposited or an equivalent amount thereof, shall be forfeited and/ or shall
    be applied to answer for any and such damage or loss whatsoever that may be suffered by the
    LESSOR during the term of this agreement. It shall also answer for whatever unpaid rentals, bills
    for utilities and other facilities due by the reason of this agreement should the same remain unpaid
    at the expiration of this Contract of Lease.
    The forfeiture of the deposit shall not be a waiver nor shall it preclude the LESSOR from
    availing of other remedies in order to protect its rights under this Contract of Lease.
    The deposit herein made shall be returned to the LESSEE upon the expiration of this
    contract, less any amount of forfeiture and/ or charges levied against it as provided herein.
    5. Real Property Tax and Documentary Stamp Tax- Realty taxes imposed on the land and
    building where the leased premises is located shall be the responsibility of the LESSOR, provided
    that any proportionate increase on the tax assessment brought by or directly attributable to the
    improvements introduced by the LESSE shall be for the account of the LESSEE;
    6. Power and Utility Bills- The LESSEE shall pay for the electricity connection with separate
    meter installed by the Iloilo Electric Cooperative II however for the water connection service
    already installed to the leased premises the payment shall be made in full no more than (5) days
    from billing every month.
    The LESSEE may also apply for their own telephone line connection at their expense and
    pay the monthly subscription fee as it falls due and the LESSOR ids hereby fee from any liability
    whatsoever on the electric and telephone line connections or any other utilities subscribed to by
    the LESSEE.
    The LESSEE shall also comply with all existing city ordinances pertaining to health and
    sanitation shall at all times maintain the premises In sanitary condition.
    7. Repairs and Maintenance- In case of major damage to the leased premises or its
    appurtenances by fire, earthquake, typhoon, war, or any other unforeseen events or by any other
    cause without a fault or negligence on the part of the LESSEE, its agents, employees, servants or
    visitors, the LESSEE shall give immediate notice thereof to the LESSOR and the LESSOR shall, within
    a reasonable period of time after such notice, undertake the repair thereof. In case the major
    damage is caused through the fault of the LESSEE, its agents employees, servants or visitors, the
    LESSEE shall notify the LESSOR of such damage immediately and all the repairs shall be for the
    amount of the LESSEE.
    IN WITNESSWHEREOF, the parties hereto affixed their signatures this day of
    __________________ at Iloilo City, Philippines.

    ROSY G. MONTEJO BERNADETTE U. PUIG


    ------------------------------ -------------------------------
    ------------------------------ -------------------------------
    ------------------------------ -------------------------------

    Signed in the Presence of:

    -------------------------------------- ------------------------------------------

    REPUBLIC OF THE PHILIPPINES)


    CITY OF ILOILO . . . . . . . . . . . . . ) S.s.
    x-----------------------------------------x

    BEFORE ME, a notary Public, this _____ day of _________________at_______________,


    Philippines, personally appeared the Lessor, Bernadette U. Puig, and Rosy G. Montejo as Lessee
    who both exhibited to me competent evidences of their identities as above-stated. both known
    to me and to me known to be the same persons who executed the foregoing instrument and
    they both acknowledged to me that the same is their own free act and voluntary deed, and that
    the corporation represented.
    This instrument refers to a Contract of Lease consisting Three (3) pages including this
    page where the acknowledgement appears, with each and every page hereof signed by the
    parties and two (2) instrumental witnesses.
    WITNESS MY HAND AND SEAL in this instrument on the date and place above written

    Doc No._______;
    Page No.______;
    Book No.______;
    Series of 2018.

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