CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Cebu, this ____ day of
__________, 2019 by and between:

RONNA JAYE C. ANANA, of legal age, and with residence at Pusok, Lapu-Lapu City,
hereinafter referred to as the LESSOR.

______________________, of legal, and with residence at ________________________,

hereinafter referred to as the LESSEE.

WITNESSETH

WHEREAS, the LESSOR is the owner of a motor vehicle, which is particularly

described as follows:

Make/Series : Toyota HIACE Commuter

Body Type : VAN

Plate No. : GED 9298

Color : WHITE

Model : 2017

WHEREAS, the LESSOR agrees to lease out the motor vehicle to the LESSEE and the
LESSEE is willing to lease the same;
 NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR
leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR the LEASED
premises, subject to the following:

TERMS AND CONDITIONS

1. TERM OF LEASE – The term of the lease is for ONE (1) YEAR from __________
to ____________ inclusive. Upon its expiration, this lease may be renewed under
such terms and conditions as may be mutually agreed upon both parties;
2. LEASE RENTAL – LESSEE shall pay the LESSOR rental in the amount of
P35,000.00 per month. LESSEE shall advance the amount equivalent to one month
(1) rent. And a refundable deposit (IF NO VEHICLE DAMAGED) of ten thousand
pesos (P10,000.00);
3. The LESSEE assumes the daily maintenance of the said vehicle such as fuel, change
oil and major replacement such as parts. Tires and Insurance shall be for the
LESSOR’s account;
4. The LESSEE assumes all liabilities in case of vehicular accidents involving the said
vehicle while under his lease and management such as but not limited to damage to
properties, injuries/deaths to persons as well as damage which maybe caused to the
vehicle, while in use by the LESSEE. In case of total loss or destruction of the
vehicle at LESSEE’s fault, the LESSEE shall pay/refund the full amount/value
thereof to;
5. The LESSEE declares that the vehicle leased to him is in good condition and agrees
to keep and maintain the same good condition, and further agrees that any damage to
the leased vehicle due to carelessness or negligence of said LESSEE, his agents or
other person under or subject to his control who may have gained access to the
vehicle, shall be paid for promptly by the said LESSEE in accordance with the
LESSOR’s reasonable and fair estimate of the cost and damage;
6. If the said vehicle is not surrendered at the end of the lease, the LESSEE shall be
responsible to the LESSOR of all damages which the LESSOR may suffer by reason
thereof and will indemnify the LESSOR against all claims, however, the LESSOR
may elect to retake the actual possession of the vehicle upon the termination or
cancellation of this contract without need of court action;
7. UNPAID RENTALS OR BREACH OF CONDITION – If the LESSEE fails to
pay the rental as stipulated or to comply with any of the covenants, condition or
instruction herein stipulated, the LESSOR shall have the right to terminate this
contract immediately and take over the possession of the vehicle. On the other hand,
if the LESSOR fails to maintain and replace the tires and takes out the insurance, the
 LESSEE may terminate this lease. In both cases, the LESSOR or LESSEE shall
give one (1) week advance notice to the other;

That this contract shall be valid and binding upon the heirs, execution and administrators,
successors in interest and assigns of the parties shall comply with terms and conditions of
this contract in good faith.

IN WITNESS WHEREOF, the parties herein affix their signatures on the date and place
above written.

RONNA JAYE C. ANANA _____________________

LESSOR LESSEE

Signed in the presence of:

1. ____________________ 2. ___________________