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AGREEMENT CONFERRING OPTION TO TAKE LEASE

Agreement made on the ___th day of ____________, 20_____, between


______________________________, of _________________, hereinafter called the
Lessor, of the one part, and ______________________ of _____________________,
hereinafter called the Lessee, of the other part:
It is hereby agreed between the Lessor and the Lessee as follows:
1. In consideration of __________________ Pesos (Php _______) now paid by the
Lessee to the Lessor, the receipt whereof is hereby acknowledged, the Lessee shall have
option
of
taking
a
lease
of
the
premises
known
as
______________________________(description)________________________________
for a term of ____________ (__) years at the early rent of Php ____________
2. Such consideration shall be exercisable by notice in writing by the Lessee to the
Lessor at any time within __________________(__) months from the date hereof, and, if
and when so exercised, then the Lessor shall grant and the Lessee shall accept a lease of
said term, which shall commence from the date of the exercise of the option, at said rent.
3. The lease contract shall be in the form as hereto attached and initiated by the
parties.
4. In the event of the option being exercised the Lessor shall cause the lease to be
prepared in duplicate in conformity with said form, and the lease shall be executed by the
Lessor and the Lessee, respectively, whenever required by either party after the date of
the exercise of the option and from such date until the execution of the lease the parties
shall be bound by the covenants and agreements to be contained therein as if the same
had been actually executed.
In witness whereof, the parties hereto have subscribed their names this ___th day
of ______________, 20____, at ________________, Philippines.
_________________________________
Lessor
SIGNED IN THE PRESENCE OF:
____________________________
____________________________

__________________________
Lessee

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES
)
PROVINCE OF __________________ ) S.S.
MUNICIPALITY OF _______________)
BEFORE ME, a Notary Public in and for the Province of _______________,
Municipality of _______________ on this day personally appeared:
Name

Com. Tax Cert. No.

Date & Place of Issue

____________________

_______________

____________; _______________

____________________

_______________

____________; _______________

____________________

_______________

____________; _______________

____________________

_______________

____________; _______________

____________________

_______________

____________; _______________

known to me and to me known to be the same person who executed the foregoing
instrument and who acknowledged to me that the same is their own free and voluntary act
and deed and that of the corporation they represent.
WITNESS MY HAND AND SEAL this _th day of ____, 20__ at ________________.

Doc. No. ____


Page No. ____
Book No. ____
Series of 20__

ATTY _________________________________
COMMISSION NO. _______________________
NOTARY PUBLIC for _____________________
UNTIL DECEMBER 31, 20__
OFFICE: ________________________________________
ROLL NO. ________ ADMMITTED AT BAR: ___________
IBP NO. ________ ; __/__/__ ; _________________
PTR NO ________ ; __/__/__ ; _________________
MCLE COMPLIANCE No. __________; __________

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