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  • Lease Contract - Eming - 2017

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    This document is a lease contract between Violeta C. Lugtu and Annie Lynn G. Eming. Violeta owns a residential property in Itogon, Benguet and previously had an agreement to sell the property to Annie, but they now agree to a lease instead. The key terms are: Annie will lease the property from February 2018 until she uses the 500,000 pesos already paid as rental at 30,000 pesos per month. Annie must pay utilities, minor repairs, and association dues of 16,000 pesos annually. Major repairs are Violeta's responsibility unless caused by Annie's negligence. The contract is valid and binding between the parties and their successors.

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    This document is a lease contract between Violeta C. Lugtu and Annie Lynn G. Eming. Violeta owns a residential property in Itogon, Benguet and previously had an agreement to sell the property to Annie, but they now agree to a lease instead. The key terms are: Annie will lease the property from February 2018 until she uses the 500,000 pesos already paid as rental at 30,000 pesos per month. Annie must pay utilities, minor repairs, and association dues of 16,000 pesos annually. Major repairs are Violeta's responsibility unless caused by Annie's negligence. The contract is valid and binding between the parties and their successors.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    33 views2 pages

    Lease Contract - Eming - 2017

    Uploaded by

    black stalker
    This document is a lease contract between Violeta C. Lugtu and Annie Lynn G. Eming. Violeta owns a residential property in Itogon, Benguet and previously had an agreement to sell the property to Annie, but they now agree to a lease instead. The key terms are: Annie will lease the property from February 2018 until she uses the 500,000 pesos already paid as rental at 30,000 pesos per month. Annie must pay utilities, minor repairs, and association dues of 16,000 pesos annually. Major repairs are Violeta's responsibility unless caused by Annie's negligence. The contract is valid and binding between the parties and their successors.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    LEASE CONTRACT

    KNOW ALL MEN BY THESE PRESENTS:

    This CONTRACT OF LEASE is made and executed at La Trinidad, Benguet, Philippines


    this _____day of December, 2017, by and between:
     
            VIOLETA C. LUGTU, of legal age, widow, Filipino, and resident of 81 Mckinley Hill
    Village, Taguig City, Philippines, hereinafter referred to as the LESSOR.
     
    -and-
     
            ANNIE LYNN G. EMING, of legal age, Filipino and with residence and postal address at
    No. 62 Happy Homes, Magsaysay Ave., Baguio City, Philippines, hereinafter referred to as
    the LESSEE.
     
    WITNESSETH:
     
    WHEREAS, the LESSOR is the owner of that residential building located at Barangay
    Tuding, Itogon Benguet, covered by Tax Declaration No. 2010-01-07-02774, and the lot
    whereon it was erected, covered by Title No. T-16648;

    WHEREAS, the LESSOR and the LESSEE previously executed a Contract to Sell
    involving the above described property. However, they agreed to change the said contract to a
    lease agreement;
     
    WHEREAS, the LESSOR agrees to lease-out the property 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:  This term of lease will commence on February 1, 2018 until the amount of FIVE
    HUNDRED THOUSAND PESOS (P500, 000.00) already deposited by the LESSEE to the
    LESSOR is used as rental of the leased premises at the rate of thirty thousand pesos (P30,
    000.00) per month.
     
    2. RENTAL RATE:   The monthly rental rate for the leased premises shall be in PESOS: Thirty
    Thousand Pesos (P 30,000.00), Philippine Currency.

    3. ASSOCIATION DUES: The LESSEE shall pay the yearly Monterazzas Association Dues in
    the amount of sixteen thousand pesos (P16, 000.00), Philippine currency.

    4. UTILITIES: All expenses of water, electricity, internet, telephone, and other utilities shall be
    for the account of the LESSEE.

    5. MAINTENANCE: The LESSEE shall maintain the leased premises in good condition and for
    such purpose, the LESSOR reserves the right at reasonable time and with notice to enter and
    inspect the premises.

    6. REPAIRS: Minor repairs below Five Thousand Pesos (P5, 000.00) accumulated in one month
    period will be for the account of the LESSEE; major structure repairs shall be on the account of
    the LESSOR, provided that the damage is not caused by the fault or negligence of the LESSEE
    and its occupants;

    7. IMPROVEMENTS: The LESSEE shall not make any structural changes, alterations or
    improvements in the leased premises without the written consent of the LESSOR. However, any
    major improvements made or introduced by the LESSEE shall, upon termination of the contract,
    automatically inure to the benefit of the leased premises, which may be refunded to the LESSEE
    upon mutual agreement of both parties.

    8. ASSIGNMENT: LESSEE agrees not to transfer, assign or sublet the premises or any part of it.
      
    9. This CONTRACT OF LEASE shall be valid and binding between the parties, their successors-
    in-interest and assigns.
     
    IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place
    above written.
     
     
    VIOLETA C. LUGTU   ANNIE LYNN G. EMING
    LESSOR                                                LESSEE
    TIN: 185-731-493-000

    Signed in the presence of:


     
    Jocelyn Gatchalian
     
    ACKNOWLEDGEMENT
     
    Republic of the Philippines)
    La Trinidad, Benguet. . .)s.c
     
    BEFORE ME, this ___ of December, 2017 personally appeared the parties known to me
    and to me known to be the same persons who executed the foregoing instrument and
    acknowledged to me that the same is their free and voluntary act and deed.
     
    This instrument consisting of 2 pages, including the page on which this
    acknowledgement is written, has been signed on each and every page thereof by the concerned
    parties and their witnesses, and sealed with my notarial seal.
     
    WITNESS MY HAND AND SEAL, on the date and place first above written.

    ATTY. JOECLE R. DONGLA


    Doc. No. Notary Public,
    Page No. My commission expires on December 31, 2018
    Book No. V TIN No.431-403-131; Roll No. 60543, 3-23-2012
    Series of 2017 PTR No. 5012179, January 5, 2017, Benguet;
    IBP No. 1039762; December 13, 2016; Baguio-Benguet
    S&B Bldg. FA 224, Km. 4, La Trinidad, Benguet

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