CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and executed at the City of Paranaque, this day of April 28 2021, by a
I, of legal age Filipino, and with residence and postal address, hereinafter referred to as the LESSOR.
-ANDI, of legal age Korean citizen with residence and postal address at, hereinafter referred to as the
LESSEE.
WITNESSETH; That WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated
at
WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the LESSEE is willing to lease the
same; NOW THEREFORE, for and in consideration of the foregoing premises, 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 residential purposes only
and shall not be diverted to other uses. No illegal drugs shall be kept in the premises or illegal activities committed
therein. Occupant authorized by the Lessee to live in the property is restricted to 2 occupants only unless a
written consent by the Lessor is provided. It is hereby expressly agreed that if at any time the premises are used
for other purposes, the LESSOR shall have the right to rescind this contract without prejudice to its other rights
under the law.
2. TERM: This term of lease is for One (1) Year from May 5, 2021 to May 4, 2022 inclusive. Upon its expiration,
this lease may be renewed under such terms and conditions as maybe mutually agreed upon by both parties,
written notice of intention to renew the lease shall be served to the LESSOR not later than Thirty (30) days prior to
the expiry date of the period herein agreed upon.
3. RENT – The monthly rental shall be FOURTY FIVE THOUSAND PESOS Only (PHP 45,000.00) including
association dues, Philippine currency and payable on or before Every 5th of the month deposit direct to owner
bank account detail below;
Account Name:
Account No.:
Name of Transaction:
In case the LESSEE or in any event fails to pay any of his Monthly rental, the LESSEE authorizes the LESSOR to
padlock the unit and the building administration to cut its utilities services. The LESSOR and the condominium
administration will not incur any civil or criminal liability by doing so. After 10 days from the unit was padlocked
and the LESSEE still refuses or fails to pay the total rentals due, the LESSOR can now exercise the right granted to it
under paragraph 23 of this contract.
4. SECURITY DEPOSIT - A deposit of NINETY THOUSAND PESOS only (PHP 90,000.00) Philippine currency, which
is considered as security deposit for the faithful compliance of the LESSEE to the covenants hereof, to take care of
the unpaid utility bills, damages to the leased property/furnishings/ appliances and installed improvements
thereon. However, if the security deposit is not enough to settle such, the LESSEE is obliged to settle the same to
the LESSOR. The Security Deposit will be refunded after 30 days of the computation of bills and damage(s) if any
done by LESSEE. The deposit shall not be applied as rental.
5. ACKNOWLEDGES OF PAYMENT RECEIVED – Upon signing of the contract and the Lessee. The lessor
acknowledges the receipt of such payment of one-month reservation fee which is amount of forty-five thousand
pesos (45,000) on April.28, 2021 and upon Move in shall payable balance of One Hundred Thirty-Five Thousand
pesos (135,000) on May.5, 2021 for completed all the 2month of advance and 2month of security deposit.
6. PRE-TERMINATION – Should for any reason the LESSEE decide to voluntary terminate the lease before its
expiration, the aforementioned advance rent and deposit shall be forfeited in favor of the LESSOR. Furthermore,
the LESSEE shall be deemed liable to pay the LESSOR all the remaining utility bills and damages to the premises,
before the LESSOR can consider the LESSEE released from this contract.
7. ESCALATION – In case the LESSOR agrees and decides to renew this contract there shall be an increase in the
monthly rental and the Lessor shall advice the Lessee (60 days) notice before the contract end date.
8. UTILITIES AND DUES – LESSEE shall pay for the water, electric bill, telephone and other utility services used
or applied in the leased premises. LESSOR shall pay for the association dues.
9. SUB-LEASE, ASSIGNMENT, ETC. - The LESSEE is NOT allowed to sub-lease premises or any portion thereof under
any circumstance whatsoever.
10. IMPROVEMENTS - The LESSEE shall not make any permanent or major structural changes, alterations or
improvements in the leased premises without the prior written consent and approval of the LESSOR; and the
parties agree that all improvements and alterations of whatever thereon with the written consent of the LESSOR
shall automatically become property of the LESSOR without obligation on the latter to pay its value or cost to the
LESSEE.
11. SANITATION - The LESSEE had inspected the leased premises and hereby expressly acknowledged that the
same is in good, sanitary and tenantable condition. The LESSEE shall comply with all sanitary rules and safety
regulations which may be promulgated from time to time by the LESSOR and shall keep and maintain the leased
premises in a clean and sanitary condition and dispose of all rubbish only through the means and places
indicated by the Administration for the purpose. Smoking is strictly prohibited in the property at all times.
Rubbish and the likes should not be disposed in the toilet bowls.
12.REPAIR - Any provision of law, present or future, or any stipulation in this agreement to the contrary
notwithstanding, the LESSEE hereby agrees and binds himself to undertake at him exclusive expense, all
repairs, necessary or otherwise, such as may be required to maintain the leased premises in a tenantable state.
13. FIRE HAZARD - The LESSEES shall not bring into or store in the leased premises in any inflammable or explosive
goods or materials, nor do or cause to be done any act which may expose the leased premises to fire, constitute a
fire hazard or increase the rate of fire insurance of the condo, or any article which the LESSOR may prohibit.
14. SALE, TRANSFER, AND MORTGAGE - In the event of a sale, transfer, mortgage, or any other encumbrance of
the leased premises, the LESSOR shall warrant that the purchaser, mortgagee or encumbrances shall respect all the
terms and conditions of this contract.
15. RIGHT TO ENTER LEASED PREMISES - The LESSOR or its authorized agent shall after giving due notice to the
LESSEE shall have the right to enter the premises in the presence of the LESSEE or its representative at any
reasonable hour to examine the same or make repairs therein or for the operation and maintenance of the
building or to exhibit the leased premises to prospective LESSEE, or for any other lawful purposes which it may
deem necessary. LESSOR will give 48 hours as notice.
16.THIRD PARTY LIABILITY - The LESSEE shall be responsible at all times for all acts done by her agents, employees,
domestic help, guests and other persons allowed by him to enter the premises insofar as the enforcement of the
provisions of this contract is concerned. Any damage or injury to the leased premises due to the fault of the
LESSEE, him agents, employees, domestic help, guests, and other third persons who may have gained access to the
leased premises shall be repaired promptly by the LESSEE at him exclusive expense. The LESSEE shall hold the
LESSOR free from any and all liability from any loss or damage that the LESSEES, their agents, employees, domestic
help, guests, and other third persons in the leased premises, may have sustained thereon, due to any cause
whatsoever.
17.RULES AND REGULATIONS - The LESSEE hereby agrees to abide by the By-Laws of the condominium and other
rules and regulations, laws ordinances and orders promulgated by the national or City Government and other
competent authorities affecting the use, occupancy and sanitation of the leased premises. Failure to comply with
said laws; ordinances, orders, rules and regulations shall be at the exclusive risk and expense of the LESSEES.
(Please see condominium restriction guideline upon move-in)
18. RETURN OF THE PREMISES - EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation
thereof, as herein provided, 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. Non-compliance with the terms of this
clause by the LESSEE will give the LESSOR the right, at the latter's option, to refuse to accept the delivery of the
premises and compel the LESSEE to pay rent therefrom at the same rate until the LESSEE shall have complied
with the terms hereof. The cost of restoring the leased premises to the same good, habitable and tenantable
condition as it was turned over to the LESSEE shall be for the account of the LESSEE.
19. FURNISHINGS – The unit is fully furnished. (as where is. Lessee shall acknowledge all furnishings, appliances
and built-in improvements and shall handle them with proper care and be responsible for the loss and
replacement, damage and repairs)
20. FAILURE TO RETURN PREMISES - In event that the LESSEES fail to return the leased premises to the LESSOR
upon expiration of the term of the lease or cancellation of this contract for any reason whatsoever, the LESSEE
hereby grant to the LESSOR the legal right to enter and take possession of the leased premises, remove all
personal belongings that may be found therein, and deposit the same in a safe place. The LESSEE further agrees to
pay all costs for transfer and storage. If LESSEE fails to claim its belongings, the LESSEE grants the LESSOR the right
to sell all the items so as not to incur further storage costs.
21. RIGHT TO SELL CONTENTS OF UNIT – In the event that the LESSEE has unpaid rentals, and other utility bills
after the LESSOR has exercise its right under paragraphs 2 and 18of this contract, the LESSEE grants the LESSOR the
right to sell all the properties found in the unit owned by the LESSEE and apply the proceeds thereof to whatever
accountabilities the LESSEE has with the LESSOR.
22. BREACH - Any violation of the terms provided for in this contract on the part of the LESSOR or the LESSEE
shall be sufficient ground for termination of cancellation of this contract by the aggrieved party. Said cancellation
or termination is in addition to such other remedies.
Provided by the law. IN WITNESS WHEREOF, the parties hereto have signed this contract this _____ day of
_________ in the City of Manila, Philippines.
LESSOR
LESSEE
Signed in the presence of
_______________________________
____________________________
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES) CITY OF MANILA
) S.S. BEFORE ME, this ________ day of ________, _______, in the City of Manila, Philippines, appeared with
_________________issued on________, with __________issued on __________ with ______________ known to
me and to me known to be the same persons who executed the foregoing instrument and acknowledging to
me the same is their free act and deed and that of the corporation represented herein.
This instrument, consisting of three (3) pages, including the page on which this acknowledgement is written has
been signed on the left hand margin of each and every page thereof by the parties and their witnesses and sealed
with my notarial seal.
IN WITNESS WHEREOF, I have hereunto see my hand, the day, year and place above written.
NOTARY PUBLIC
Doc. No. _____
Page No _____
Book No. ____
Series of 2021