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-AND-
WITNESSETH; That
3. RENTAL RATE: The monthly rental rate for the leased premises shall
be in PESOS: ____________________________________ (P ______________),
Philippine Currency. All rental payments shall be payable to the LESSOR.
4. DEPOSIT: That the LESSEE shall pay ONE (1) MONTH ADVANCE
and ONE (1) MONTH DEPOSIT to the LESSOR upon signing of this contract and
prior to move-in. The one (1) month advance payment shall be applied as rent for
the last month of stay, while the one (1) month deposit shall answer partially for
damages and any other obligations such as unpaid water and/or electricity bills, or
any liabilities resulting from violation/s of any of the provision of this contract.
5. DEFAULT PAYMENT: Five (5) days delay in payment of the rental fee
from scheduled date of payment shall be subject to a minimum penalty of TWO
HUNDRED PESOS (P 200.00) per month. In case of default in payment by the
LESSEE, the LESSOR, at her option may immediately terminate this contract
and eject the LESSEE, without prejudice to the right of the LESSOR to demand
payment of the unpaid rent, plus penalty thereof.
7. PUBLIC UTILITIES: The LESSEE shall pay for electric and water bills
during the duration of the lease. Payment thereof shall be on the basis of actual
consumption as reflected in the Utility Submeter.
11. This CONTRACT OF LEASE shall be valid and binding between the
parties, their successors-in-interest, assigns, and other third parties.
IN WITNESS WHEREOF, parties herein affixed their signatures on the date
and place above written.
_____________________________ ______________________________
ACKNOWLEDGEMENT
WITNESS MY HAND AND SEAL, on the date and place first above written.