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Lease Contract

This document is a lease contract between Gemma Licong as the lessor and Lucky Lego as the lessee. It details the rental of a residential property located at Blk 17 Lot 31 Victors Subdivision in Puli Carmen, Cagayan de Oro City for a period of one year from January 2021 to January 2022. The monthly rental rate is PHP 10,000 with a deposit of PHP 40,000 equivalent to three months rent required upon signing. The contract outlines various terms regarding the purpose of lease, payment defaults, subleasing, force majeure, expiration of lease and more.

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Cristy Lou Licong
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118 views

Lease Contract

This document is a lease contract between Gemma Licong as the lessor and Lucky Lego as the lessee. It details the rental of a residential property located at Blk 17 Lot 31 Victors Subdivision in Puli Carmen, Cagayan de Oro City for a period of one year from January 2021 to January 2022. The monthly rental rate is PHP 10,000 with a deposit of PHP 40,000 equivalent to three months rent required upon signing. The contract outlines various terms regarding the purpose of lease, payment defaults, subleasing, force majeure, expiration of lease and more.

Uploaded by

Cristy Lou Licong
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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LICONG RESIDENCE

Blk 17 Lot 31 Victors Subdivision


Puli Carmen, Cagayan de Oro City
Mobile # 09362892116

LEASE CONTRACT
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the city of Cagayan de Oro City,
this day of November __, 2020, by and between:

LESSOR Gemma B. Licong, of legal age, married, Filipino, and with residence
and postal address of Blk 1 Lot 12 Bellevue Subdivision, Upper Carmen, Cagayan de
Oro City, hereinafter referred to as the LESSOR.

-AND-

LESSEE LUCKY RACHELA B. LEGO, Filipino and with residence and postal
address at #494-B-Socorro St. Mercedes, Zamboanga City, hereinafter referred to as
the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of the LEASED PREMISES, a residential


property situated at Blk 17 Lot 31 Victors Subdivision, Puli Carmen, Cagayan de Oro
City.

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. PURPOSES: That the premises hereby leased shall be used exclusively by the
LESSEE for residential purposes only and shall not be diverted to other uses. It
is hereby expressly agreed that if any time the premises are used for other
purposes, the LESSOR shall have the right to rescind this contract without
prejudice to its rights under the law.

2. TERM: This term of lease is for ONE (1) YEAR. From January __, 2021 to
January __, 2022 inclusive.

3. RENTAL RATE: The monthly rental rate for the leased premises shall be in
PESOS: AMOUNT IN WORDS Ten thousand pesos Philippine Currency. All
rental payments shall be payable to the LESSOR.

4. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this
contract and prior to move-in must pay the THREE (3) MONTHS deposit and
ONE (1) MONTH advance, an amount equivalent to the rent for FOUR (4)
MONTHS, AMOUNT IN WORDS Forty thousand pesos Philippine Currency.
Wherein the ONE MONTH advance is used for the first month of stay and the
THREE MONTHS deposit shall be applied as rent for the 12 th month as well as
the damages, if there are any and obligations for utilities such as Water,
Electricity, CATV, Telephone. Deposits will be FORFEITED for any incomplete
stay of less than one year term and are required to pay the days consumed.

5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the


rent, such as when the checks are dishonored, the LESSOR at its option may
terminate this contract and eject the LESSEE. The LESSOR has the right to
padlock the premises when the LESSEE is in default of payment for one month
and may forfeited whatever rental deposit or advances have been given by the
LESSEE.

6. SUB-LEASE: The LESSEE shall not directly or indirectly sub-leased, allow or


permit the leased premises to be occupied in whole or in part by any person,
form or corporation, 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.

7. FORCE MAJEURE: If whole or any part of the leased premises shall be


destroyed or damaged by fire, flood, lightning, typhoon, earthquake, storm, riot or
any other unforeseen disabling cause of acts of God, as to render the leased
premises during the term substantially unfit for use and occupation of the
LESSEE, then this lease contract may be terminated without compensation by
the LESSOR or by the LESSEE by notice in writing to the other.
8. EXPIRATION OF LEASE: At the expiration of the term of this lease or
cancellation thereof, as herein provided, the LESSEE will promptly deliver to the
LESSOR the leased premises with all corresponding keys and in as good and
tenable condition as the same is now, ordinary wear and tear expected devoid of
all occupants, movable furniture, articles and effects of any kind. Non-compliance
with the terms of this clause by the LESSEE will give the LESSOR the right, at
the latter’s option, to refuse to accept the delivery of the premises and compel
the LESSEE to pay rent there from at the same rate plus Twenty Five (25) %
thereof as penalty until the LESSEE shall have complied with the terms hereof.
The same penalty shall be imposed in case the LESSEE fails to leave the
premises after the expiration of this Contract of Lease or termination for any
reason whatsoever.

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.

Gemma B. Licong Lucky Rachela B. Lego


LESSOR LESSEE

WITNESSETH

Signed in the presence of:

Marilyn V. Baldado Wilfredo O. Licong


ACKNOWLEDGEMENT

Republic of the Philippines)

City of Cagayan de Oro ) SS

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

Lessor: Gemma B. Licong _____________ __________________

Lessee: Lucky Rachela B. Lego _____________ __________________

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.

The instrument consisting 4 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 notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Doc. No. ______


Page No. ______
Book No. ______
Series of 2020

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