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--and--
WITNESSETH:
1. TERM. The period of lease shall be for one (1) year from December 15,
2017 to December 14, 2018. Upon expiration of this Contract, the lease
contract may be renewed for a certain period under the terms and
conditions mutually agreed upon by the parties;
3. The December 15, 2015 security deposit in the amount of THIRTY EIGHT
THOUSAND PESOS (P38,000.00) shall be retained.
4. USE OF PREMISES.
10. TERMINATION OF LEASE. Should the LESSEE fails to pay any rentals as
stipulated, or should she, at any time, fail or neglect to perform or observe
any of the covenants, conditions, agreements or restrictions herein
stipulated, then this contract shall be automatically terminated and the
premises shall be peacefully vacated by the LESSEE, and all persons
claiming rights under here, without prejudice on the part of the LESSOR to
exercise her rights arising from this contract and under laws;
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Should the LESSEE decide not to renew this contract at the end of the
leased period, or should she terminate the lease contract before the
expiration of the period, the LESSEE shall give a LESSOR a written notice
of such termination sixty (60) days prior to the effectivity of termination.
The advance rental and the deposit stipulated above shall be forfeited in
favor of the LESSOR;
WITNESSES:
_________________________ _________________________
ACKNOWLEDGMENT
Republic of the Philippines)
) s.s.
BEFORE ME, a Notary Public for and in Batangas City, this, personally
came and appeared, with their respective competent evidence of identities, as
above-stated, known to me and to me known to be the same persons who
executed the foregoing instrument which they acknowledged to me that the
same is their free and voluntary act and deed.