Lease Contract.docx

LEASE CONTRACT This CONTRACT OF LEASE is made and executed at the City of _____, this day of _______________, 20____, by and between: (THE LESSOR)________________________, of legal age, single/married to _________________, Ecuadorian, and with residence and postal address at _________________, hereinafter referred to as the LESSOR. -AND(THE LESSEE), Ecuadorian and with residence and postal address at _________________, hereinafter referred to as the LESSEE. THE LESSOR and THE LESSEE hold legal personality for the exercise of rights and for the enforcement of the obligations of the followings: Terms and Conditions FIRST. Mr._______________________ claims to be the owner of (TYPE OF PROPERTY) located at ___________________________ with number___________________ at the City of ___________________, Cantón ___________________ Province of ___________________, whose description is as follows:________________________________________________________________ SECOND. Mr._______________________ (The LESSOR), agrees to lease-out the property described above to Mr.______________________________ (the LESSEE) and the LESSEE is willing to lease the same. THIRD. Mr.______________________________ (the LESSEE) hereby accepts from the LESSOR the LEASED property ___________________________ and It is hereby expressly agreed that the property shall be used for the purposes described herein:_________________________________________________________________________________ ____________________________________________________________________________________ FOURTH. The lease rate that is mutually agreed by both parties for the property leased shall be the amount of ____________________________ USD (United States Dollars) and wherein the rate will be paid by the LESSEE during the first five days of each month in advance, with a receipt issued by the LESSOR being the only valid verifiable document of payment or the notification of a bank transfer on the account number _____________________________ from the bank _______________________ and whose account holder is the LESSOR, Mr. __________________________________________. FIFTH. The parties voluntarily agree to waive to the leasing rates scale stipulated by the Office of Lease of the Municipality of____________________________________ without variability being taken as reference but rates shall be subjected to the Article 11 of the Civil Code. SIXTH. The LESSEE hereby accepts that all utilities and facilities granted are in good conditions such as electrical installations, sewage, locks, and a fixed phone number_____________________ (among others) and the LESSEE will promptly deliver to the LESSOR the leased property with all corresponding keys and in as good and tenable condition as the same is now, except when there be damages due to the normal use of the property.

SEVENTH. The LESSEE shall pay for its telephone, electric, cable TV, water (among others), and a monthly maintenance aliquot which will be delivered with the respective monthly spreadsheet in order for them to be canceled in a timely manner. EIGHT. This term of lease is for______ years (TWO (2) YEARS MINIMUN under the Article 28 on the Law of Tenancy) from (Date)___________ to (Date)__________ valid upon signing this lease contract. Upon its expiration, this lease may be renewed under such terms and conditions as might be mutually agreed upon by both parties or with a different leasing rate. The expiration date shall be notified within 90 days prior to the expiry date of the period herein agreed upon, which otherwise will be automatically renewed. NINTH. The LESSEE shall not on any grounds be allowed to sub-lease the property neither shall the LESSEE assign its rights hereunder to any other person or entity and no right of interest thereto or therein shall be conferred on or vested in anyone by the LESSEE without the LESSOR'S written approval. The LESSEE shall not under any circumstances use the property differently from its original purpose agreed on the THIRD provision. TENTH. The LESSEE shall deposit the amount of ______________________________ USD (United States Dollars) as a warrant of appropriate use of the leased property, which shall be returned on delivering the property in the same conditions as it was given, and also with the monthly spreadsheet of services and condominium canceled which on no other way shall this amount be considered as rent but this amount shall answer for damages to the property.

ELEVENTH. Termination grounds of this contract are determined in the Article 30 of the Law of Tenancy. Parties shall renounce their charter and location and are subjected to competent judges in the code of the City of ______________________ and the ABBREVIATED proceedings according to the Article 42 of the Law of Tenancy, or to the ORDINARY proceeding, according to what is stipulated in the Article 256 clause 4 of the Organic Code of General Proceedings respectively.