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Cuico (1.0011) - Contract of Lease
Cuico (1.0011) - Contract of Lease
-AND-
WITNESSETH;
2. TERM: This term of lease is for THREE (3) YEARS from July 1, 2019 to
July 1, 2022. Upon its expiration, this lease may be renewed under such
terms and conditions as my be mutually agreed upon by both parties. A
written notice of intention to renew the lease shall be served to the
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LESSOR not later than seven (7) days prior to the expiry date of the
period herein agreed upon.
3. RENTAL RATE: The monthly rental rate for the leased premises shall
be TWENTY THOUSAND PESOS (P20,000.00), which is payable to the
LESSOR. It is further mutually agreed by the parties that the LESSEE will
pay an amount equivalent to one (1) year, or TWO HUNDRED FORTY
THOUSAND PESOS (P240,000.00), to the LESSOR upon the signing of
this contract.
6. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric,
cable TV, water, Internet, association dues and other public services and
utilities during the duration of the lease.
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10. FORCE MAJEURE: If the leased premises shall be damaged by fire
flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen
disabling cause of acts of God or other cause without fault or negligence
of the LESSEE or its agents, servants, or visitors, the damage shall be
repaired at the expense of the LESSOR as soon as the notice is given. If
the leased premises is destroyed as to make it untenantable, without the
fault or neglect of the LESSEE, either party may demand rescission of this
contract. Consequently, all unused advance rentals shall be refunded by
the LESSOR to the LESSEE within fifteen (15) days from demand.
A penalty of five (5) percent of the monthly rental shall be imposed in case
the LESSEE fails to leave the premises after the expiration of this
Contract of Lease or termination for any reason whatsoever.
13. VENUE OF ACTION: Any action which will arise from this contract
must be filed exclusively in the proper court of Biñan City, Laguna.
14. This CONTRACT OF LEASE shall be valid and binding between the
parties, their successors-in-interest and assigns.
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Signed in the presence of:
___________________ ___________________
ACKNOWLEDGMENT
who are known to and acknowledged before me the execution of the foregoing
instrument as their free act and voluntary deed.
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WITNESS MY HAND AND SEAL on the date and place first above
written.