Residential Lease Contract.docx

RESIDENTIAL LEASE CONTRACT KNOW ALL MEN BY THESE PRESENTS: This CONTRACT OF LEASE, made and executed this_______ day of ___________ ___ _______,in_____________, Philippines, by and between: _________ __________, Filipino, of legal age, married to ___________________ and resident of _________________________________,hereinafter referred to as the LESSOR; and ____________________,Filipino, of legal age, married to ___________________ and resident of ______________________________hereinafter referred to as the LESSEE: WITNESSETH: WHEREAS, the LESSOR is the absolute owner of real property located at _________________________ and covered by the ____________________ Attached as Annex A of this Lease Contract. WHEREAS, the LESSEE, desires to lease the above-mentioned premises and the LESSOR is willing to lease the same to the LESSEE subject to the terms and conditions stipulated below. NOW THEREFORE ,for and in consideration of the foregoing, the LESSOR has let and leased to the LESSEE the subject real property, and the LESSEE hereby accepts the same by way of lease, according to the following terms and conditions: A.LEASE TERM & RENT 1.TERM OF LEASE. This Lease contract shall be for a period of ____________ commencing from___________ to ____________. 2.RENT. The rental of the leased premises throughout the period of lease shall be________________ Pesos (PHP_____)per month payable on every____ _________ day of the month. Succeeding monthly rental payments are to be paid every___________________ of each month through postdated checks to be given by the LESSEE to the LESSOR at the time of signing of this Lease Contract. Furthermore, upon signing of this Lease Contract, the LESSEE agrees to pay the LESSOR the sum of_____________________Pesos (PHP________________ )to be applied of follows: a.The sum of______________ Pesos (PHP____________) shall be deemed as the DEPOSIT which shall be held by the LESSOR, to be refunded without interest only after the expiration of this Lease Contract. Such deposit may be applied to damages incurred in the leased premises through the fault or negligence of the LESSEE, members of the LESSEE’S household, and/or guests. At the option of the LESSOR,any such damages shall be deducted from this deposit, and the balance if any shall be refunded to the LESSEE, normal wear exempted.

b._____________________Pesos (PHP___________)shall be applied as rental or payments for _____________________________ of the term of this contract to commence on_______________________. B.USE & MAINTENANCE OF LEASED PREMISES 3.USE OF THE LEASED PREMISES. The leased premises shall be used by the LESSEE for residential purposes only. Occupancy of the leased premises shall be limited to the LESSEE, the LESSEE’S family, and their domestic help, such as drivers and servants . 4.MAINTENANCE AND UTILITIES. Payment of all utility bills (such as electric and telephone bills and association dues) and other normal maintenance costs of the leased premises (such as gardening plants,grass,and hedges,as well as all other landscape maintenance) shall be for the account of the LESSEE. 5.SANITATION & REPAIRS. The LESSEE shall keep the leased premises in a clean and in sanitary condition .The LESSEE shall continually inspect the leased premises to ensure that the same continues to be in good and tenantable condition .The LESSOR shall be responsible for all major repairs to be made on the premises, provided that the LESSEE must notify the LESSOR of such at least two (2) weeks in advance, specifying and describing such major repairs to be made on the water,electrical ,and sewage installations caused by ordinary wear and tear, except repairs that are due to the fault or negligence of the LESSEE, members of the LESSEE’s household, guests, or visitors. Minor repairs shall be for the account of the LESSEE. “Major repairs “are those repairs costing more than_________ ________ Pesos (PHP_______)while “minor repairs”are those repairs costing __________ __________ Pesos (PHP________)or less per item of repair in question. 6.FIRE HAZARDS AND OBNOXIOUS SUBSTANCES. The LESSEE shall not keep, deposit, or store in the leased premises any obnoxious substance, highly inflammable materials, or other substance that may constitute a fire hazard. 7.CONDITION & INSPECTION OF LEASED PREMISES. The LESSEE shall maintain the leased premises in good and tenantable condition and for such purposes the LESSOR reserves the right at reasonable times to enter and inspect the premises and to make any necessary repairs during such time. The LESSEE likewise agrees to cooperate with the LESSOR in keeping the leased premises in good and tenantable condition. The LESSOR must give five (5) days advance notice to the LESSEE through the telephone or a written note before each inspection. 8.IMPROVEMENTS.The LESSEE may install air-conditioning units and other movable furnishings, appliances, and decorative items within the leased premises. the LESSEE shall take care of the removal of these items and shall not cause any damage to the leased premises , otherwise, the LESSOR may charge any such damages to the LESSEE. The LESSEE shall not make any major structural changes, alterations, or improvements to the leased premises without the written consent of the LESSOR. Furthermore, any and all major alterations or improvements made or introduced by the LESSEE in the leased premises shall, upon the termination of

this Lease Contract, automatically inure to the benefit of the leased premises and become the property of the LESSOR without any obligation on the LESSOR’S part to refund its value or cost to the LESSEE. C.LIABILITIES OF,AND LIMITATIONS ON,PARTIES 9.BREACH BY LESSEE. Any violation by the LESSEE of the terms and conditions of this Lease Contact shall be sufficient ground for the termination and revocation of this Lease Contract. 10.THIRD PARTY LIABILITY. During the LESSEE’S occupancy of the leased premises, the LESSEE shall hold the LESSOR free and harmless from any damage or responsibility to any person or property arising out of or as a consequence of the use and occupation of the leased premises by the LESSEE, the LESSEE’S household, agents, employees ,domestic help and/or guests. However, when such damage is the entirely the result of a natural calamity,such as a typhoon, earthquake, or flood, or is otherwise beyond the control of the LESSEE ,the latter shall not be liable to the LESSOR. 11.SUBLEASE and ASSIGNMENT. The LESSEE shall not sublease or allow the leased premises to be occupied in whole or in part by any other person or entity. This Lease Contract shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, the LESSOR ‘s assignees, and the LESSEE’S assignees if the LESSOR consents to the assignment of this Lease Contract. 12.ENCUMBRANCE OF LEASED PREMISES. In the event of a sale, transfer, mortgage, or any encumbrances of a similar nature of the leased premises, the LESSOR shall advise the purchaser, mortgagor, or concerned third party that all the terms and conditions of this Leased Contract shall be respected. D.RENEWAL & TERMINATION OF LEASE 13.RENEWAL . This Lease Contract shall be renewed only upon terms and conditions mutually agreed to by both parties. The LESSEE must provide in writing, at least thirty (30) days and advance of termination, written notice to the LESSOR of the LESSEE’S desire to renew the Lease Contract,if such be the case. 14.TERMINATION BY LESSOR. Should the LESSEE fail to pay on the stipulated time or in the event of any violation of the terms and conditions stipulated in this Lease Contract, the LESSOR shall have the unilateral right to terminate this Lease Contract and enforce such right through either judicial or extrajudicial ejectment. If the LESSOR opts for extrajudicial ejectment, the LESSOR or the LESSOR’S duly authorized representative may immediately take actual, physical, complete, and full repossession of the leased premises ,even without the consent of the LESSEE. 15.FORFEITURE CLAUSES. The LESSEE is bound to respect the term of this Lease Contract .Should the LESSOR decide to reside elsewhere or abandon the leased premises before the expiration of the lease term, the LESSEE shall forfeit as liquidated damages in favor of the LESSOR the deposit required under Clause

2a.The LESSEE shall also be liable to pay the LESSOR all the remaining utility bills and pending maintenance costs provided under Clause 4 before any clearance and release from this Lease Contract may be granted by the LESSOR. 16.RETURN OF LEASED PREMISES. Upon termination of this Lease Contract,the LESSEE shall immediately vacate the premises and return possession thereof, including all the keys of the premises, in the same as well as good and tenantable condition. The LESSEE must also provide proof of full payment of all bills before any clearance and release from this Lease Contract may be granted by the LESSOR. E.CONTRACT ADMINISTRATION 17.DISPUTE RESOLUTION. In case of litigation arising from the provisions of this Lease Contact,the parties agree to submit to the jurisdiction of the proper court sitting in ___________________________,to the exclusion of all other tribunals. 18.OTHER PROVISION. This Lease Contract will be governed by, construed, and enforced in accordance with the laws of the Philippines. Any amendment or modification thereto must be in writing and signed by the parties hereto. No waiver by a party to any provision of this Contract shall be binding unless made expressly and in writing. If one or more provisions of this Contact shall be held invalid, illegal, or unenforceable, the remaining provisions shall remain in, and shall be given, full force and effect. IN WITNESS WHEREOF,the parties hereto have hereunto affixed their hands in signature together with their instrumental witnesses on the date and place first above- written. ______________________ _____________________ LESSOR LESSEE With My Consent: _____________________ Spouse of Lessor

With My Consent: ______________________ Spouse of Lessee

Signed in the Presence of: ____________________ _____________________

(Notarial Aknowledgment)