Essay About Andthe Lessee And Contract Of Lease

Contract of Lease
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CONTRACT OF LEASE KNOW ALL MEN BY THESE PRESENTS: This Contract of Lease made and entered into by and between;The LESSOR,————- , Filipino, married,  of   legal  age and with address at ———-; andThe LESSEE , , Filipino,  of  legal  age, and with postal address at Block ——————————;                                                            WITNESSETH:                                      That the LESSOR  hereby leases unto the LESSEE and the latter hereby accepts in lease from the former,  the  premises known and designated as at ————————-, and registered under the LESSOR’S name . That the following are the terms and conditions  of lease:TERM  OF  LEASE:  This agreement shall be for a term of two (2) years commencing on October  15, 2013 and ending on October 14, 2015.  This contract is renewable subject to the terms and conditions mutually acceptable to the parties and those specifically provided hereinafter. The leased premises shall be used exclusively as a residential or dwelling purposes.RENTAL: The monthly rental shall be TEN THOUSAND PESOS  (Php 10,000.00), Philippine currency, EXCLUSIVE  OF E-VAT which shall likewise be paid by the lessee. The monthly rent shall be payable every 30th day of each and every month from the execution of this contract.DEPOSIT AND ADVANCE : The LESSEE shall pay the LESSOR upon signing of this contract  THREE MONTHS DEPOSIT in the amount of THIRTY THOUSAND PESOS (Php30,000.00) . The deposit herein referred to shall be devoted exclusively for the following purpose;At the termination of this lease, payment of all utility bills, including but not limited to water, electric, telephone and sanitary fees. Said deposit shall not be applied at any time for whatever reason to arrearages, unpaid monthly rental or any outstanding accounts owing to the LESSOR. Nothing in this Contract shall prohibit the LESSOR from actually applying herein deposit after the cancellation or termination of this lease, to pay outstanding utility bills and obligations in order to prevent incurring penalty and other surcharge.  Application in this clause shall be allowed only upon failure of the LESSEE to actually pay within three (3) days from notice of the LESSOR to pay or settle said bills. In the event that application of deposit be made by the LESSOR under the conditions stated herein, the LESSE authorizes the LESSOR to make reasonable deductions from said deposit to cover or pay expenses incurred in setting said bills, and that the LESSEE hereby frees the LESSOR from any liability arising from such application.At the termination of this lease, upon final inspection on the premises of the property , if actual damages to the building / property including  the furniture and fixtures shall be found , to which it  occurred within the rental period , it shall  be assessed reasonably  and shall be deducted against the deposit .  Reimbursement of deposit or any part thereof to the LESSEE shall only take place             upon surrender to the LESSOR of all official receipts showing full payment at all utility bills. The LESSOR shall have the right  to withhold said deposit for SIXTY (60) working days from the date the LESSEE actually surrenders official receipts of all utility bills, for the purpose of determining charges against said deposit.ADVANCE PAYMENT OF RENTAL:  No payment for advance rental required.DEFAULT :, LESSEE’s Upon default failure to pay the monthly rental  or any breach of this Contract, the LESSOR at it’s option may terminate this contract and eject the LESSEE, and may forfeit deposits or advances paid to LESSOR.PUBLIC UTILITIES: The LESSEE shall pay for and defray at his exclusive expense the consumption of water, electric bills, telephone or other utility services in the leased premises covering the duration of the lease. The LESSEE shall take responsibility for the safeguarding the integrity of the equipments which are provided by public utility companies such as MERALCO electric meter and GMA WATER DISTRICT water meter. Should there be tamperings on the meters which is illegal in law, the LESSEE shall bind itself to be responsible for any penalties and dues which will be collected by the public utility company as a result of such illegal activities.MAINTAINANCE , REPAIR AND IMPROVEMENT: The LESSOR shall deliver the leased premises “AS IS WHERE IS”. The LESSEE hereby expressly acknowledges that the leased premises are in good condition and agrees to keep the same in such good condition.  Any provision of law or stipulation in this Contract notwithstanding, the LESSEE hereby agrees and binds herself  to undertake at her exclusive expense, all major and minor repairs necessary or otherwise, such as may be required to maintain the premises and all improvements thereon in good state of repair. The LESSEE shall not start, proceed or make alterations, additions or improvements on the promises without prior written consent and approval of the LESSOR. All such alterations, additions or improvements of whatever nature such as may be made thereon shall be at the Lessee’s exclusive expense, and upon completion thereof, form integral parts of the leased premises and shall not be removed there from but shall belong to and become exclusive property of the LESSOR, without any right on the part of the LESSEE to the reimbursement of the cost or value thereof. The LESSEE binds himself to be exclusively liable for any and all damages or liability caused and to be caused to persons or entity in the course of or arising from the introduction of improvement made without proper compliance and in violation of existing rules and restrictions imposed by the Building Code, ordinance, or any local or national law.FORCE MAJEURE / DISTURBANCE OF POSSESSION: If whole or any part of the leased premises shall be destroyed or damaged by fire, flood, lightning, typhoon, earthquake, riot or any unforeseen disabling cause of acts of God, as to render the leased premises during the term substantially unfit for use and occupation of the LESSEE, then this contract of lease may be terminated without compensation by the LESSOR or by the LESSEE, by notice in writing to the other. Disturbance of possession of the LESSEE due to force majeure shall confer no right of any kind to the LESSEE as against the LESSOR by reason of inconvenience, annoyance, or injury to business arising out of necessity of repairing any portion of the leased premises.INJURY OR DAMAGE : That the LESSEE hereby assumes full responsibility for any damage which may be caused to the person or property or third persons while remaining casually or on business in any part of the premises leased. LESSEE  further binds itself to hold the LESSOR harmless and free from any claim for such damage or injury.GOVERNMENT REGULATIONS: The LESSEE shall at it’s own expense and risks, comply with all the laws, ordinances, regulations and orders of any government agency , national or local, affection or pertaining to the leased premises and to any effects of articles which said LESSEE may have in his possession therein.INSPECTION OF THE LEASED PROMISES/LESSOR’S RIGHT OF ENTRY: The LESSOR or it’s authorized representative shall after giving due notice  to the LESSEE  shall have the right to enter the premises in the presence of the LESSEE or it’s 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 BUYER or LESSEE, or for any other lawful purposes which it may deem necessary. PROHIBITED CONDUCT: That the LESSEE and occupants, guests may not engage in any unlawful activities including but not limited to the following: criminal conduct; behaving in loud or obnoxious manner; disturbing or threatening the rights, conducts and safety of other people; possession of a controlled substance or drug paraphernalia; tampering with utilities and telecommunications; bringing  in hazardous materials into the premises and bringing in illegal firearms and ammunitions into the premises of the building.ABANDONMENT OF PREMISES: Should the LESSEE abandon the leased premises for  a period of thirty (30) days or vacate the premises before the expiration of this contract of lease without notifying in writing the LESSOR , the LESSOR  may immediately re-enter the leased premises and this contract of lease  shall thereon be automatically terminated.ASSIGNMENT/ ENCUMBERING : The LESSEE shall not directly or in directly, transfer, convey, mortgage or in any way encumber his right of lease over the leased premises or any portion thereof under any circumstance whatsoever without the written or expressed consent of the LESSOR. Any contract that may be made in violation of this clause shall be null and void, and shall automatically and unequivocally terminate this contract of lease the time such violation occurs.SALE OF LEASED PREMISES: The LESSEE hereby expressly recognizes the absolute right of the LESSOR to sell the leased premises. In the event that the leased premises be sold to another, the LESSOR binds himself to notify the LESSEE of the new owner and shall turnover all deposits to the new owner of the premises.RENEWAL OF CONTRACT: The LESSEE shall, at least THIRTY (30) days prior to the termination of this Contract, give written notice signifying his intention to renew the lease contract. Failure to give such notice shall mean absence of such intention, thus, the LESSOR shall have the right to negotiate and accept other tenants and place “FOR LEASE” signs on the premises .The amount of rent shall be subject to TEN (10) percent increase for every year of renewal. Nothing to the contrary shall prevent the imposition or inclusion of additional conditions on the renewal contract. Continued occupation of the premises by the LESSEE with the consent of the LESSOR, after the termination of this lease, without compliance with the written notice requirement herein stated, shall be understood as running from month to month only, under the same terms and conditions herein stipulated, and may be terminated by either party by means of a written notice served upon the party at least thirty (30) days in advance. BREACH OF CONDITIONS/ CANCELLATION OF CONTRACT: In case of any breach by the LESSEE of any of the conditions and covenants of this Lease as herein stipulated, the LESSOR at it’s option, may forthwith terminate and cancel this contract of lease and the LESSEE shall be liable for any and all damages as a result of such default or termination. Forfeiture of whatever rental deposits shall apply in case the LESSEE violates any of the provisions in this contract.  In any of the above cases and upon cancellation of the contract, the premises shall be vacated peacefully by the LESSEE for the LESSOR to hold and enjoy henceforth possession of the same. It shall be lawful for the LESSOR or any person or persons duly authorized in his behalf, without any formal notice or demand, to enter and upon said premises, or any part thereof without prejudice on the part of the LESSOR  to exercise any or all rights from the contract at lease and those given by law.EXPIRATION OF LEASE: The LESSEE at the expiration of the term or cancellation of this lease contract  as herein provided , will promptly deliver said premises, with all corresponding keys  to the LESSOR in good and tenantable condition, in all respects including those already existing and those after the signing of this contract shall be made and considered as improvements thereon. 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 there from at the same rate plus Twenty Five (25)% thereof as penalty until the LESSEE fails to leave the premises after the expiration of this contract or termination for any reason whatsoever.NON-WAIVER OF RIGHTS : The failure of the LESSOR to insist upon the strict performance at any of the terms, conditions and covenants hereof shall not be deemed a relinquishment or waiver of any right or remedy that said LESSOR  may have, nor shall it be construed as a waiver of any subsequent breach or default of the terms, conditions, restrictions and covenants herein contained, which shall be deemed in full force and effect. No waiver by the LESSOR shall be deemed to have been made unless expressed in writing and signed by the LESSOR.AMENDMENT: The contract supersedes and renders void any and all agreements and undertakings, oral and for written, previously entered between the parties covering the property herein leased. No modification, alteration, change or amendment to the Agreement shall be valid and binding between the parties except by instrument in writing duly signed by the parties hereto.JUDICIAL RELIEF: Should any one of the parties herein seek judicial relief against the other, the losing party shall pay an amount of One Hundred (100) % of the amount claimed in the complaint as attorney’s fees which shall be in no case be less than Php50,000.00 pesos in addition to other cost and damages which said party may be entitled to under the law.VENUE : Any and all suits arising from this contract shall be filed and litigated exclusively in the proper courts of, LAS PINAS REGIONAL TRIAL COURTS, having jurisdiction thereon to the exclusion of all other courts.This  CONTRACT OF LEASE  shall be valid and binding between the parties , their successors- in- interests and assigns,          IN  WITNESS  WHEREOF,  WE have hereunto signed this Contract of Lease,  this 4th January 2015  in  , General Mariano Alvarez,  Cavite, Philippines.__________________________                                                            _____________________________