Contract of Lease _Motorized Vehicle

CONTRACT OF LEASE (motor vehicle) KNOW ALL MEN BY THESE PRESENTS: This contract made and executed by and between: ________(name of lessor)________, of legal age, Filipino and a resident of _____(address)_____ hereinafter referred to as the LESSOR; - and ___________(name of lessee)_______, of legal age, _____(address)_____ hereinafter referred to as the LESSEE; WITNESSETH: That the parties have hereto agreed as follows: 1. That the LESSOR hereby lets and leases unto the LESSEE his motor vehicle described as follows: Make and Type : ___________ Motor Number : ___________ Serial/Chassis No. : _________ Plate No. : ___________ MV FILE NO. : ___________ COLOR : ___________ 2. That the monthly rental shall be in the amount of ________(the amount in words)______ (Php ___________), per month; 3. That, the said monthly rental shall be paid on or before the __th day of each month, beginning __(month and year)___; and, upon signing and execution of this contract, the LESSEE shall satisfactorily pay unto and in favor of the LESSOR the sum equivalent to two (2) months rental, as deposit, and the aforesaid provided monthly rental; 4. That the term of this contract shall be _________ (__) [months]/[year] commencing on _____(date)______ and ending on ______________ and automatically renewed from year to year unless sooner terminated by a notice of at least _________ (__) days before such termination; 5. All the expenses for the registration, insurance, tire, battery, fuel, care and maintenance of the leased unit, as well as any and all damages and liabilities caused to third parties or the public by reason of any accident whatsoever, shall be fore the sole account of the LESSEE; 6. LESSEE may sublease the unit to any other person but the right of LESSOR as herein stipulated shall not be affected whatsoever. IN WITNESS WHEREOF, the parties have hereunto set their hands this ____th day of _______ 20__ at ________ City, Philippines. __________________ Lessor ___________________ Lessee Filipino and a resident of

SIGNED IN THE PRESENCE OF :

_______(signature)________ (name of witness #1)

_________(signature)________ (name of witness #2)

ACKNOWLEDGMENT