CONTRACT OF LEASE

KNOWN ALL MEN WITH THIS PRESENT:

This agreement made and entered into this __________________________, by and between:
__________________________________of legal age, Filipino and with residence and postal address at
_____________________________________________________________ herein referred to as the LESSOR:
-

And

__________________________________ of legal age, and with residence and postal address at

_____________________________________________________________ herein referred to as the LESSEE:
WITNESSETH
1. The amount equivalent to three (3) months deposit shall be deposited to the LESSOR and shall be
withdrawn only after all obligations has been settled by the LESSEE upon the termination of this contract;
2. The amount equivalent to three (3) months advance rent shall be deposited to the LESSOR and shall be
used only for the last three months of this contract.
3. The LESSOR have agreed that the premises with 120sqm located at the ground floor of Unit F, F1 Hotel,
32nd Street, Fort Bonifacio Global City to be used only for restaurant purposes only;
4. A moratorium or free rent until official opening of the store or maximum of thirty (30) days from the signing
of this contract was given to the LESSEE to provide ample time to prepare, plan, construct the facilities
and secure necessary permits to operate.
5. This contract of lease shall be the period of five (5) years from December 1, 2015 to October 30, 2020
and subject to renewal upon mutual agreement of both parties;
6. The monthly rental shall be the net of Three Hundred Thousand Pesos (PhP 300,000.00) in Philippine
Currency payable in advance every 1st day of each and every month;
7. Association dues shall be for the account of the LESSOR, while VAT if levied shall be for the account of
the LESSEE and LESSEE shall remit directly to the appropriate agency;
8. That every twelve (12) months from the first day of this contract, a five percent (5%) annual increase in
monthly rentals shall be imposed.
9. The LESSEE shall at his/her own expense and account undertake and secure permits and licenses to
operate and that the payment for city services, related taxes, and other utilities pertaining to this contract
and the LESSEEs business;
10. The LESSEE agrees that any alterations, additions, improvements and/or renovations cannot be made in
the premises without written consent and approval of the LESSOR and that the LESSEE shall undertake
the same at his/her expense without deduction from the rental;
11. The LESSEE agrees that any improvements and/or renovations made in the premises shall be the
property of the LESSOR and cannot be removed upon termination of this contract;
(Page two)

12. The LESSEE agrees to undertake the expenses incurred for repair works in the premises as a
consequence of damage resulting from his/her own negligence or by force of nature;
13. The LESSEE agrees to abide by the rules and regulations which may be imposed by the LESSOR and
the Building Administration or from any Government Agency from time to time, like prohibitation of
drinking alcoholic drinks, usage of prohibited drugs, vandalism and of criminal or illegal acts within the
premises and in within the compounds of this same is located shall be sufficient ground for immediate
termination of this contract by the LESSOR without prior notice to the LESSEE;
14. The LESEE agrees to return and surrender the leased premises at the expiration of these terms of lease
in the same condition when it occupied the premises, as reasonable wear and tear will permit and without
any delay whatsoever;
15. For the renewal of this contract of lease for another period of time, the LESSEE and the LESSOR shall
have mutually agreed on the following terms and conditions;
a. An increase of five percent (5%) on the monthly rental shall be imposed;
b. The LESSEE shall settle all his/her obligations for the period of this lease;
c.

To further agree to the conditions to be proposed by the LESSOR to solve the exigencies, if any
on the time and date of renewal.

16. Non-payment of rental for two (2) consecutive months shall automatically terminates this contract and that
the LESSOR can lease the said premises to other party without prior notice to the LESSEE;
17. That if pre-terminated for whatever reason, all deposits and advance rental shall be forfeited in favor of
the LESSOR.
18. That the LESSEE shall indemnify and hold harmless to the LESSOR against all actions, suits, damage,
and claims by whomsoever that maybe brought or made by reasons of violations or non-observance of
the prejudice to the right of the LESSOR to cancel this lease contract; and
19. If any, the venue in cases of complaints arising from the contract is only at the proper courts in the City of
__________________ and/or options of the LESSOR.
IN
WITNESS
WHEREOF, the
parties
hereto
have
hereunto
set
their
_________________________ at _______________________________________________.

_______________________________

hands

________________________________

LESSOR

LESSEE

(Page three)
ATTESTATION CLAUSE

this

We the undersigned attesting witness, whose residence are stated below our respected name, do herby
certify; that the LESSOR,________________________ and the LESSEE, __________________________ has
published unto us the foregoing will consisting of three (3) pages number correlatively in the letters on the upper
part of each and every pages, as their CONTRACT OF LEASE and has signed in our joint presence and we in
turn, at their request have witnessed and signed the same in their presence and in the presence of each and of
us.

_________________________________

______________________________________

JOINT ACKNOWLEDGEMENT
BEFORE ME, a Notary Public for and in the City of _______________ this ________________________
personally appeared;
The LESSOR, ______________________________, the LESSEE,___________________________ and
WITNESSES, _____________________________ and ________________________________.
All known to me to be the same persons who signed in the foregoing contract, the first as LESSOR, the
second as LESSEE and the last two (2) as instrumental witnesses, and they respectively acknowledged to me
that they signed the same as their own free act and deed.
This will consist of three (3) pages, including the page on which this acknowledgement is written, and has
been signed thereof by the LESSOR, LESSEE and their witnesses and sealed with my notarial seal.
IN WITNESS WHEREOF, I hereunto set my hand the day, year and place above written.

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Series of 2015