CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This rental contract made and executed by and between:
_________________, a tertiary institution of learning with principal business at __________________ represented by its President, ______________, of legal age, Filipino, married and with residence at [ADDRESS OF REPRESENTATIVE] hereinafter referred to as the LESSOR
and
__________________________________, of legal age, Filipino, married and with residence at ____________________________________, hereinafter referred to as the LESSEE.
For and in consideration of the terms and conditions hereafter set forth, the parties hereby agree as follows:
- The LESSOR hereby agrees to lease to the LESSEE and the LESSEE hereby agrees to lease from the LESSOR the property described below:
“A food stall located at Pangasinan State University,Lingayen Campus (Alvear St., Lingayen, Pangasinan).â€
- PERIOD OF LEASE. The term of this contract shall be for a period of one (1) year from October 2008 and to expire on October 2009.
- RENTAL FEE. In consideration of this lease, LESSEE will pay the LESSOR through its cashier a rent of ONE HUNDRED PESOS (P100.00) per day. The IGP Campus Coordinator shall take charge of the collection and remit the same to the cashier. The collection shall be done on a daily basis.
- PERMIT TO OPERATE. The LESSEE shall apply for a permit to operate to legitimize its operation. A Permit To Operate fee of PhP 50.00 shall be paid to the university cashier. The LESSEE may renew this Permit To Operate immediately after its expiration. The right granted to the LESSEE as indicated to the Permit shall cease to exist as the term of this contract expires.
- USE OF LEASED PREMISES. During the term of this contract, the aforementioned property shall be used by the LESSEE exclusively for COMMERCIAL PURPOSES ONLY. Illegal and immoral activities shall also be prohibited.
LESSEE shall not directly or indirectly sublease, assign, transfer, convey, mortgage or in any way encumber the right lease over the leased premises or any portion thereof, under any circumstances whatsoever; any violation, direct or indirect, of any stipulation hereof shall automatically and unequivocally terminate this lease contract from the time such violation occurs and LESSEE shall not be entitled to any refund of any advanced rental payment.
LESSEE shall not make or permit disturbing noise within the leased premises caused by himself or by persons under his control, nor permit anything to be done by himself or such other persons which will interfere with the rights, comfort or convenience of the other LESSEE.
- INSPECTION. The LESSEE agrees that the LESSOR or its authorized representative may at all reasonable time with prior notice enter into and upon the leased premises to inspect or observe the manner of its use. Any alterations or repairs or for any purpose which may deem necessary for the operation or maintenance of the stall shall be made at the expense of the lessee.
- SANITATION & REPAIR. The LESSEE shall keep the stall and its premises clean and in sanitary condition and shall take good care of the leased premises. The LESSOR agrees to keep the premises in good and tenantable condition and shall be responsible for necessary major repairs. Likewise, LESSEE acknowledges that the same is in good and tenantable condition and agrees to keep the same in all respect. Minor repairs shall be at the exclusive expense of the LESSEE.
- HAZARDOUS & OBNOXIOUS SUBSTANCES. The LESSEE shall not keep, deposit any obnoxious substances and/or inflammable materials or substances that might constitute a fire hazard, except cooking gas or gasoline in vehicles.
- RULES & REGULATIONS. The LESSEE agrees to abide by the rules and regulations established by competent authorities and those that may be promulgated from time to time by the university.
- PRETERMINATION. Should the LESSEE without any legitimate reason preterminate the lease contract, the LESSEE shall give LESSOR two (2) months notice of his intention to preterminate.
- EXPIRATION OF CONTRACT. Upon the expiration of the term of the lease or cancellation of this lease as herein provided, LESSEE will promptly deliver the said premises to the LESSOR in as good and tenantable condition, in all respects, as the same now are, reasonable wear and tear excepted, devoid of all occupants, furniture, article, and effects of any kind belonging to the LESSEE; provided, however, that non-compliance will give the LESSOR the right at its option to refuse to accept the delivery of the premises and to compel the LESSEE to pay rent thereof at the same rate of rental as herein provided, plus 50% additional sum as penalty, until the LESSEE shall have complied with the terms hereof. This same penalty shall likewise be imposed in case LESSEEE shall refuse to leave the premises after his right of lease has expired or terminated for any reason whatsoever.
- RENEWAL. Sixty (60) days before the expiration of this lease, LESSEE shall give notice in writing to LESSOR his intention to renew this lease subject to the agreement of the LESSOR. That in the event of renewal, the LESSOR can only increase the rent up to 10% of the present rate.
____________________________
LESSOR
Represented by:
_______________[NAME OF REPRESENTATIVE]
___________________________
[NAME OF TENANT]
LESSEE
WITNESSED BY
REPUBLIC OF THE PHILIPPINES
MUNICIPALITY OF LINGAYEN
BEFORE ME, this ____ day of ____________ at the _________ Philippines, personally appeared the following:
__________________
__________________________
[NAME OF TENANT]
CTC NO.
DATE & PLACE OF ISSUE
all known to me to be the same persons who signed and executed the foregoing Contract of Lease and acknowledged to me that the same is their own free and voluntary acts and deeds.
WITNESS MY HAND AND SEAL on the date and place mentioned above.
NOTARY PUBLIC
Doc. No. _____ ;
Page No. _____ ;
Book No. _____ ;
Series of 2005
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