Lease Contract Template

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CONTRACT OF LEASE

KNOWN ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE, executed and entered into in ___________________,
Philippines, by and between:

_________________, of legal age, single, Filipino and
______________________, hereafter referred to as the LESSOR,

a

resident

of

a

resident

of

- and _________________, of legal age, single, Filipino and
______________________, hereafter referred to as the LESSEE;

WITHNESSETH:
WHEREAS, the LESSOR,
______________________;

agrees

to

lease

a

parcel

of

land

situated

at

WHEREAS, the LESSEE hereby accepts in lease ____________ square meters (_________
sq.m.) of the aforementioned parcel of land;
NOW THEREFORE, for and in consideration of the foregoing premises, the parties have
hereunto mutually agreed as follows, to wit:
1. Term. The term of the lease is ___________ (___) months commencing from ____________ to
_____________, renewable upon subsequent agreement to the parties;
2. The Monthly Rental. The monthly rental of the leased premises shall be _______________ (Php
_________) upon execution of this Contract, the Lessee shall deliver to the LESSOR, Twelve
(12) postdated checks representing rentals for each month for the period of two (2) years, each of
which shall constitute the monthly payment for the period of lease.
3. Security Deposit: The Lessee shall deliver to the Lessor the amount of ___________ (Php
_________) which shall serve as Security deposit as guaranty for the payment of the rental.
4. Waiver of Liability and Compliance to the Law. The LESSEE shall, during the pendency of this
contract, hold the LESSOR free from any damages, liability or responsibility to any person or
property arising out of or as a consequence to the used of the leased premises by the LESSEE, his
employees, domestic help and customers or clients and for this purpose shall comply with all
pertinent government laws, regulations and requirements;
5. Alterations, additions and Improvements. No improvements which shall leave a permanent
change in the structure of the lease property shall be caused by the LESSEE without first having
secured the written consent of the LESSOR. All alterations, additions and improvements caused
on the leased premises which, upon the expiration of this contract, cannot be removed without
defacing or ruining the premises, shall pertain to the LESSOR without need of compensation to
the LESSEE;

6.

Lessor’s Right to Inspection. The Lessor or her duly authorized representative have the right to
inspect and enter the premises at any reasonable hour or the day without need of prior notice or
permission from the LESSEE;

7. Pre-termination. Either party shall have the right to pre-terminate this Contract of Lease. The
pre-termination shall be made in this manner:
7.a. If initiated by LESSEE, the LESSEE is obliged to serve LESSOR with a written
notice of pre-termination at least THIRTY (30) days prior to the intended date of
termination. The LESSOR shall return all remaining postdated checks in its possession to
LESSEE not later FIVE (5) days after the peaceful surrender of the leased premises to the
LESSOR;
7.b. If initiated by LESSOR, a written notice of pre-termination will be given to LESSEE,
NINETY (90) days from the date of termination. From the date of receipt of LESSOR's
notification by LESSEE, LESSOR will cease to collect rental payments up to the date of
termination. This rent-free period shall serve as LESSEE's “pull-out” period and to allow
the LESSEE recover the cost of its improvements and minimize the impact of the
disturbance of its operations. LESSOR shall return the security deposit or any balance,
thereof, together with all remaining postdated checks in its possession to LESSEE not
later than FIVE (5) days after the peacefull surrender of the leased premises to the
LESSOR.

8. Damage To The Lessee. The LESSOR is not liable nor responsible for any damaged sustained
within the leased premises as a consequence of fortuitous events such as typhoon, flood and any
calamity not directly or indirectly caused by the act or negligence of the LESSOR;
9. Provision On Breach of Contract/Venue. In case of breach of condition of the terms of contract,
the LESSOR can extrajudicially terminate this lease contract and in addition to the right of
ejectment, shall be entitled to collect damages, costs of collection, expenses of litigation and
reasonable Attorney’s Fees. In addition, the LESSOR shall collect from the LESSEE, by way of
penalty, the amount equivalent to one (1) month rental:
It is hereby agreed that in the event a suit or action should arise from willful violation of this
contract, the parties agree that the venue be in the appropriate Court in Iloilo City.
9. Clearance Required Upon Termination. The LESSEE shall not leave or vacate the leased
premises upon termination of the contract without a certification or clearance of all the bills like
electricity, water and other bills from the LESSOR or her authorized representative;
10. Receipt of Copy. The LESSEE acknowledges having read and understood the contract and all the
provisions contained therein, having mutually agreed on the same with the LESSOR:

IN WITNESS WHEREOF, the parties hereunto set their hands, this _____________________in
________________, Philippines.

_______________________

______________________

LESSOR

LESSEE

Signed in the presence of:

____________________and _____________________

Republic of the Philippines )
City of _________

)S.S.

ACKNOWLEDGEMENT

SUBSCRIBED AND SWORN to before me this _________________ in ____________ City,
Philippines, the above named parties, who are personally known to the undersigned Notary Public
appeared with their respective valid identification above stated, affixed their signatures on this instrument
in my presence and in the presence of their instrumental witnesses in accordance with the 2004 Rules on
Notarial Practice, and acknowledged to me that the same is their own, true and voluntary act and free
deed.
This document, consisting of three (3) pages, including this page whereon this acknowledgement
is written, has been signed by the parties and their instrumental witnesses, refers to a CONTRACT OF
LEASE of a ________sq. m. Lot in _____________, belonging to the _______________ and
____________________.
WITNESS MY HAND AND SEAL on the date and the place first above stated.

NOTARY PUBLIC
Doc No. ___________
Page No. __________
Book No. ___________
Series of 2015

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