CONTRACTOFLEASE

(ProForma)

KNOWALLMENBYTHESEPRESENTS:
ThisLeaseContractmadeandenteredintothis______,2006in
MakatiCity,byandbetween:
_______________________,acorporationdulyorganized
andexistingunderthelawsoftheRepublicofthePhilippines,with
principalofficeat______________________________,represented
hereinbyitsPresident,_______________________,hereinafter
referredtoastheLESSOR
and
__________________________________,acorporation
dulyorganizedandregisteredunderthelawofthePhilippines,with
addressat____________________________,representedhereinby
itsPresident,________________________,hereinafterreferredtoas
theLESSEE.
WITNESSETH:That
WHEREAS,theLESSORistheownerofaresidentialcondominiumunit
________________________________________________,MakatiCity.
WHEREAS,theLESSEEdesirestoleasetheabovementionedpremises
andtheLESSORiswillingtoleasethesameuntotheLESSEE,inclusiveof
oneparkingspaceandfurnishings(AnnexA)subjecttothefollowingterms
andconditionhereinafterspecified:
NOW,THEREFORE,forandinconsiderationoftheforegoingpremises
andthemutualcovenantsandobligationshereinaftercontainedandtobe
performed,theLESSORherebyleasesandtheLESSEEherebyacceptsby
wayofleasefromtheLESSORandleasedpremisessubjecttothefollowing
termsofconditions:
1. TERMThisleaseshallbeforaperiodofOne(1)year,
commencingon__________________andendingon
_______________renewableuponmutualagreementbyboth
parties,providedtheLESSEEgivesthirty(30)daysnoticetothe
LESSORofhisintentiontorenewtheleaseofthesubjectpremises.
2. RENTALTheLESSEEshallpayamonthlyrentalPESOS:
________________________(P______________)including
associationduesand5%withholdingtax,while12%ValueAdded
Tax(VAT)willbefortheLESSEEsaccount.Therentalshallbepaid
asfollows:
TheLESSEEshallpaytheLESSORthesumofPESOS:
___________________________________
(P______________)Philippinecurrency,inclusiveofAssociation
Dues,netoffive(5%)withholdingtaxasrentfrom
______________________________.
TheLESSEEshallpaytheLESSORthesumofPESOS:
____________________________________(P____________)
Philippinecurrency,representingpaymentfortwelve(12%)
VAT,from_____________________.

ContractofLease
Page_______2

TheLESSEEshallpaydirectlytotheBureauofInternalRevenue
(BIR),theamountof__________________________________
(P______________)PhilippineCurrency,coveringtheperiod
from________________to___________________andfurnish
theLESSORacopyofCreditableWithholdingTaxatsource.
TheLESSEEshallpaytheLESSORthesumofPESOS:
_______________________________(P_____________)
representingtwo(2)monthssecuritydepositincaseofunpaid
billsofwater,electricity,telephoneandgasordamagestoits
premisesasidefromnaturalwearandtear.Thebalance,ifany,
shallberefundedtotheLESSEEbytheLESSORwithin60days
uponterminationofthisContractofLease,andaftersettlement
ofaccountssuchasutilitiesanddamagestotheleased
premises.
3. UTILITIESAllexpensesforwater,gas,telephoneandelectricity
shallbefortheaccountoftheLESSEE.Theelectricmeterand
telephoneno._____________areinthenameoftheLESSOR
unlesstheLESSEEelectstohavethemtransferredinhisnameby
makingthenecessarydepositwiththeMeralcoandthePLDT,the
sameshallcontinuetobeinthenameofLESSOR.However,all,
electricandtelephonebillsfortheperiodofoccupancyofthe
condominiumbytheLESSEEshallbeforwardedtohimfor
payment.
4. IMPROVEMENTSTheLESSEEshallnotmakeanystructural
changes,alterations,orimprovementsintheLEASEDPREMISES
withoutthewrittenconsentoftheLESSOR.However,anymajor
alterationsorimprovementsmadeorintroducedbytheLESSEE
shall,uponterminationofthiscontract,automaticallyinuretothe
benefitofthesaidpremisesandbecomepropertyoftheLESSOR
withoutanylitigationnolattersparttopayorrefunditsvalueor
costtotheLESSEE.
5. PURPOSEThepremisessubjectmatterofthiscontractoflease
shallbeusedexclusivelyforresidentialpurposes.Ifanytimeduring
theexistenceofthisleaseandwithoutthepreviouswrittenconsent
oftheLESSOR,thepremisesareusedforotherpurposes,the
LESSORhasthefollowingoption,namely:(a)rescindthiscontract,
(b)increasetherent,(c)compeltheLESSEEtostopthenew
activities,or(d)ejecttheLESSEE.TheLESSORdoesnothowever
waiveotherlawfulremediesorcoursesofactionwhichmaybe
availabletoit.
6. EMPLOYMENTCLAUSEShouldtheemployee/sassignedtouse
theLEASEDPREMISESbetransferredfromthePhilippinespriorto
theexpirationofthetermhereof,theLESSEEshallhavetheoption
ofa)assigninganotherofitsemployeestotheLEASEDPREMISES
uponwrittennoticethereofinadvanceofitsintentiontovacatethe
LEASEDPREMISESandforfeitingbywayofliquidateddamages,the
sumequivalenttotwo(2)monthsrental,andtheLESSORshall
refundimmediatelyanyunusedrentalpaidinadvance,without
interest.ThedepositshallberefundedtotheLESSEEuponreturn
oftheLEASEDPREMISESandsettlementofaccountsherein.
7. SUBLEASEThesubjectpremisesmaynotbesubleasedwithout
thewrittenconsentoftheLESSOR.
8. SANITATIONANDREPAIRSTheLESSEEshallkeepthelease
premisescleanandinsanitarycondition.TheLESSEEhave

ContractofLease
Page_______3

inspectedtheLEASEDPREMISESandfoundthesametobeingood
andtenantableconditionacceptabletohim.Majorrepairsabove
P5,000.00ontheleasedpremisesnotattributabletotheLESSEE
shallbefortheaccountoftheLESSOR,andsuchdamages,caused
byfire,flood,earthquake,naturaldisasterorcalamity,withoutany
contributorynegligencewhatsoeveronthepartoftheLESSEEor
anyofitshouseholdguestsorvisitors.
TheLESSORshallundertakerepairofthesameuponwrittennotice
bytheLESSEEofsuchfactofdamage.Eachminorrepairunder
P5,000.00shallbefortheaccountoftheLESSEEwhileanyrepairs
inexcessofsaidamountshallbefortheaccountoftheLESSOR.
TheLESSEEhasalsoseenandinspectedthefurnishings,furniture
andapplianceslistedinAnnexAhereofandfoundthesameto
begoodandusefulconditionandfurtheragreesnotusethesame
foranyotherthantheaforementionedpremises.Anylossor
damagecausedtothefurnitureandapplianceslistedinAnnexA
duetoanycausewhatsoeverotherthantheordinarywearand
tear,fortuitouseventsofActsofGodsuchastyphoon,earthquake,
explosion,fire,flood,etc.shallbefortheaccountoftheLESSEE
whoshallimmediatelyreplacethesametoitsoriginalcondition.
Routinemaintenanceofappliancesshallbefortheaccountofthe
LESSEEwhoshallimmediatelyreplacethesametoitsoriginal
condition.Routinemaintenanceofappliancesshallbeforthe
accountoftheLESSEE.
9. FIREHAZARDS&OBNOXIOUSSUBSTANCESTheLESSEE
shallnotkeep,depositorstoreinthepremisesanyobnoxious
substanceorinflammablematerialorsubstancethatmight
constituteafirehazardorincreasetheriskofdamageor
destructiontothepremises.
10.TAXESANDFIREINSURANCERealestatetaxes,government
assessmentsandfireinsurancechargesshallbefortheLESSORs
account.
11.THIRDPARTYLIABILITYTheLESSEEduringitsoccupancyof
theleasedpremisesshallholdtheLESSORfreeandharmlessfrom
anydamageorliabilityorresponsibilitytoanypersonorproperty
arisingoutoforasaconsequenceoftheuseoftheleased
propertybytheLESSEE,hisagents,employees,domestichelpand
guests.
TheLESSORfurther,shallnotbeliableforanyinjurytoanyperson
(s)oranydamagetoanypropertycausedatanytimeinthe
leasedpremisesorbuildingresultingfromsteamorelectricityor
fromwater,orothersubstancewhichmayleakinto,issueorflow
fromanypartofsaidbuilding,orfrompipesorplumbingworksof
thesame,failureorfluctuationoftheelectriccurrent,orforany
damageresultingfromthecarelessnessorimproperconducton
thepartofanyotherlesseeofanyagentoremployeeofthe
LESSEE,providedthatthecircumstancescontemplatedaboveshall
notbetheresultofthenegligenceoftheLESSORorbydefective
structure/facilitiesinstalledorcausedtobeinstalledbythe
LESSOR.Insucheventuality,theLESSORshallimmediately
undertakethenecessaryrepairworks.
NocompensationorclaimshallbeallowedtheLESSORbyreason
ofinconvenience,annoyanceorinjurytotheLESSEEarisingoutof
necessitytorepairanyportionofthebuildingwheneverthe
necessitymayarise.

ContractofLease
Page_______4

12.DAMAGETOTHELEASEDPREMISESIncaseofdamagetothe
leasedpremisesasmaybeoccasionedbythefirenotattributable
totheLESSEE,earthquake,typhoon,warorsimilarconcertedacts
ofmen,noticethereofmustbemadeknowntotheLESSORwho
shall,uponreceiptthereof,endeavortoseetoitthatthepremises
arerenderedintenantableconditionwithintheearliestreasonable
time.Ifhoweverthepremisesshallbedestroyedastomakethe
premisesuntenantable,thepartiesmayagreetotherecessionof
thiscontract.Expensesfortherepairandrestorationasabove
indicatedshallbefortheaccountoftheLESSOR.
13.MAINTENANCEANDINSPECTIONOFTHEPREMISESThe
LESSEEshallmaintaintheLEASEDPREMISESingoodcondition
andtenantableconditionandforsuchpurpose,theLESSOR
reservestherightatreasonabletimeandwithnoticetoenterand
inspectthepremisesandtomakethenecessaryrepairshereof.
TheLESSEElikewiseagreestocooperatewiththeLESSORin
keepingthesaidpremisesingoodandtenantablecondition.
14.SALE,TRANSFERANDMORTGAGEIntheeventofthesale,
transfer,mortgageoranyotherencumbranceoftheleased
premises,thevendee,transfer,mortgageeshallrespectallthe
termsandconditionsofthisleaseagreementincludingprovisions
forrenewalthereof.
15.SURRENDEROFLEASEDPREMISESLESSEEshallimmediately
quitandsurrenderpossessionoftheleasedpremisesandany
improvementsthereontotheLESSORattheterminationofthis
leasebyexpirationoftheleasetermorotherwiseinasgood
conditionasreasonableuseandwearwillpermit.
16.VIOLATIONAnyviolationofthetermhereinsetforthbyeither
LESSEEorLESSORshallbesufficientgroundforterminationofthis
ContractofLeasebytheLESSORwithdamageaccruingtothe
innocentparty.
17.ATTORNEYSFEESIncaseofcourtlitigationbyvirtueofnon
paymentoftheagreedrentoranyotherbreachofthisagreement
onthepartoftheLESSEE,theLESSORshallhavetherightto
collecttheamountequivalentto20%ofthetotalobligationdueas
liquidateddamagesandreasonablefees,exclusiveofthecost
legallyaccrued.
18.RULESANDREGULATIONSTheLESSEEagreetoabidebythe
existingrulesandregulationspromulgatedbythe
_______________________.
19.ENTRYBYLESSORTheLESSORoritsauthorizedagentshall,
bypreviousarrangementwiththeLESSEE,havetherighttoenter
theleasedpremises,toexaminethesameormakerepairssubject
totheconditionstipulatedintheimmediatelyprecedingparagraph
offorpurposesdirectlynecessaryfortheoperationormaintenance
ofthebuildingoritsinstallationandduringthelastsixty(60)days
ofthetermofthelease,toexhibittheleasedpremisesto
prospectivelessees.

INWITNESSWHEREOF,thepartiesheretohavesignedthese
presentsonthedateandattheplacefirstabovementionedorwritten.

ContractofLease
Page_______5

________________________
(LESSOR)

________________________
(LESSEE)

SIGNEDINTHEPRESENCEOF:
________________________

_______________________

ACKNOWLEDGEMENT
REPUBLICOFTHEPHILIPPINES)
CITYOFMAKATI,METROMANILA)S.S.
Name

Com.Tax.Cert./PassportNo.

Date&PlaceIssued

TIN:

TIN:

Intheirinstrumentalwitnesses,allknowntomeandtomeknownto
bethepersonswhoexecutedtheforegoinginstrumentand
acknowledgedtomethesameistheirownfreeandvoluntaryactand
deedandthatoftheprincipalrepresented.
ThisinstrumentreferstoaCONTRACTOFLEASEofthecondominium
unit______________________________________,MakatiCity,
consistingoffive(5)pagesincludingthispage.

WITNESSMAYHANDANDSEALthis__thdayof__________
2006atMakatiCity.

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NOTARYPUBLIC