CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is entered into and executed by spouses FILINO C. MANIGOS and
ROSALINDA F. MANIGOS, both of legal age, Filipinos, and residents Trece Martires City, Cavite,
thru their Attorney in-Fact, ELENA D. FORTUITO, likewise of legal age, Filipino, single and a resident
of Poblacion, Sibulan, Negros Oriental; as shown in a Special Power of Attorney known as Doc. No.67;
Page No. 14; Book No. V; Series of 2007, hereinafter called the LESSOR; and in favor of,
RODRIGO B. TERCIO, likewise of legal age, Filipino, and a resident Dauin , Negros Oriental,
hereinafter called the LESSEE,
WITNESSETH:
That the LESSORs herein are the owner of a certain parcel of land known as Lot No. 103-A-2,
located in Poblacion, Sibulan, Negros Oriental, together with all of the improvements found therein;
containing an area of FOUR HUNDRED TEN (410) square meters, more or less;
That the LESSORS, by these presents, do HEREBY let and lease unto the LESSEE the
aforementioned parcel of land, subject to the following terms and conditions:
1.

That the term of this Lease contract shall be for a period of one (1) year from the date of its
execution and will expire on the following year, March 5, 2014; however, may be renewed for
another year at the option of the LESSOR;

2.

That the Lessee agrees to pay the Lessor a monthly rental of SEVEN THOUSAND FIVE
HUNDRED PESOS (Php7,500.00), Philippine Currency, beginning March 5, 2013, and
payable in advance in favor of the LESSOR the amount of FIFTEEN THOUSAND PESOS
(Php15,000.00), representing the two (2) months deposits; and a one month advance rental.
The said monthly rental shall be payable within the first Five (5) days of the month, without
the necessity of a demand from the LESSOR.;
N OTE:
First Deposit Property safekeeping, refundable when property will still be in good
condition after a thorough check upon such abandoned by the LESSEE.
Second Deposit Payment in case the LESSEE abandons the property earlier than
what is stated in the contract or if the lessee fails to pay the rent of the last months stay
however, refundable when all the conditions are met;

3.

That the LESSEE may introduce permanent improvement on the property of the LESSOR
upon written or verbal notice to the lessor whose approval shall be implied if no objection is
interposed within seven (7) days after the receipt of the notice, provided however, that all
improvements so introduced shall be subject to reimbursement for the expenses incurred
thereof when the said parcel of land is sold to any interested party;

4.

That the charge of water, electric, telephone, and other services shall be for the sole account
of the LESSEE;

5.

That the Lessee shall not sublease the premises in whole or in part;

6.

That the LESSOR or his duly authorized representative should be allowed by the LESSEE
free access to the said premises or any part therof, for inspection purposes during reasonable
hours of the day, and if circumstances warrant, during night time but such right shall be
exercised with extreme caution and respect;
- m o r e -

Contract of Lease , Elena Fortuito & Rodrigo Tercio, Page (2).

That the parties herein have executed this agreement freely and voluntarily and has fully
understood the contents therein and any violation of any of the condition thereof is a ground for the
revocation and termination of this contract and the lessor has the right to demand from the lessee to
vacate the leased premises.
IN WITNESS WHEREOF, we have hereunto affixed our signatures this _____day of March
2013, at Sibulan, Negros Oriental.

ELENA D. FORTUITO, for and in behalf of

(Lessors)

RODRIGO TERCIO
(Lessee)

SIGNED IN THE PRESENCE OF:

1. ___________________________________ 2. _______________________________

SUBSCRIBED AND SWORN to before me this _____day of March , 2013, at Sibulan, Negros
Oriental.

TIRSO F. BANQUERIGO
Circuit Trial Judge