CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

I, (full name of lessor), of legal age, single (or married to ________________ ) with residence and postal address at ________________, for and in consideration of the agreement hereinafter mentioned do hereby LEASE unto (full name of lessee) of legal age, single (or married to ________________ ) with residence and postal address at ________________that certain building, together with the lot on which it stands, situated at ___________________, and more particularly described as follows, to wit:

Technical Description
(Building and Lot)

of which lot I am the registered owner, in accordance with the provisions of the Land Registration Act, my title thereto being evidenced by Transfer (or Original) Certificate of Title No. __________, of the Registry of Deeds of _________________.

That the term of this lease is for ______ years from and after the execution of this contract of lease, renewable at the will of both parties.

And I (full name of lessee), for and in consideration of this contract of lease, do hereby bind myself and promise to pay or cause to be paid unto the said lessor, _______________ at the latter's residence a monthly rental of __________________PESOS (Php ______) during the first five days of each and every month.

And it is hereby stipulated: That the lessee shall have no right to sublease the above premises without the written consent of the lessor; that the water, light, gas and telephone charges of said premises shall be for the account of the lessee, that all ordinary expenses incurred or that may arise in the daily use of the toilet facilities and sewers in the premises shall be for the account of lessee, and that any improvements made by the lessee in the above premises, and existing at the termination of the lease shall lease shall remain as the property of the lessor, without right to reimbursement to the lessee of the cost or value thereof.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands this ______day of_________, 20_____, in ___________, Philippines.

____________________ _____________________

LESSOR LESSEE

TIN __________       TIN ____________       

SIGNED IN THE PRESENCE OF :

____________________ ____________________

(NOTARIAL ACKNOWLEDGEMENT)

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