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and
WITNESSETH:
1. TERM. This contract shall be for a period of one (1) year commencing on January
1, 2000 and shall expire on _______ subject to renewals as may be agreed upon by
the parties, however the LESSEE shall inform the LESSOR of their desire to extend
the contract not later 60 days prior to the expiration of this contract , then
thereafter, a new Contract of Lease shall be executed;
2. RENTAL. The monthly rental fee of the leased premises shall be FREE of charge
for the reason of the LESSOR extending it’s goodwill to another company and
assist the LESSEE on its company expenses;
3. USE OF PREMISES. The premises shall be used exclusively for business purpose
only and shall not be used whatsoever for residential or any illegal or unlawful
activity or to keep materials, chemicals, and other matters considered as fire
hazards or nuisance to the structure.
4. IMPROVEMENTS, The LESSEE shall not make any alteration, structural changes
or improvements in the leased premises without the prior written consent of the
LESSOR.
5. REPAIRS. The LESSEE shall, during the duration of the lease, make all minor
repairs on the leased premises to preserve the same in serviceable or tenantable
conditions at the LESSEE’s expense. The LESSEE shall give a five (5) day prior
notice to the LESSOR of such repair.
6. PHYSICAL DAMAGES. All damages caused to the leased premises due to the
fault, misuse, carelessness, and/or negligence or on account of the use thereof by
the LESSEE, its employees, or other occupants therein shall be in full responsibility
of the LESSEE.
8. RULES AND REGULATIONS. The LESSEE binds himself to comply with the
existing rules and regulations promulgated by the property administrator or
owner, and any and all laws, ordinances, etc. applicable to such property.
9. VIOLATIONS. Violation of any provision of the contract herein set forth shall
automatically rescind or terminate this contract without prejudice to any and all
claims for damages.
10. This Contract shall take effect upon the signing by the parties and shall expire on
the date specified above.
IN WITNESS WHEREOF, we have hereunto set our hands this ______ day of ______,
2018, at __________, Philippines.
__________ _______________
Lessee _______________
_______________
_______________ _______________
ACKNOWLEDGMENT
all known to me to be the same persons who executed the foregoing instrument
and hereby acknowledged to me that the same is their free and voluntary act
and deed.