Apartment Lease Agreement

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APARTMENT LEASE AGREEMENT

This APARTMENT LEASE AGREEMENT is made and executed at the City of Surigao, this day of March 5, 2012, by and between: CHERYL ENARIO, as the LESSOR. -AND_________________________, with permanent residence at _________________________ ________________________________________________, as the LESSEE. WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at 529 Narcisso St., Surigao City, Philippines; WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the LESSEE is willing to lease the same; TERMS AND CONDITIONS 1. PURPOSES: That premises hereby leased shall be used exclusively by the LESSEE for residential purposes only and shall not be diverted to other uses. 2. TERM: This term of lease is for MINIMUM OF SIX (6) MONTHS from 4TH OF MARCH, 2012 onwards or until one party decides to terminate or update the terms of this agreement. 3. RENTAL RATE: The monthly rental rate for the leased premises shall be in NINE THOUSAND PESOS (P 9,000.00) and the monthly due date would be the 4th of every month. An allowance of ONLY ONE (1) WEEK after the due date is given for the LESSEE to settle the rent. 4. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this agreement and prior to move-in an amount equivalent to the rent for TWO (2) MONTHS or the sum of EIGHTEEN THOUSAND PESOS (P 18,000.00). The first month deposit shall be applied as the rent for the 1st month. The remaining one (1) month deposit shall answer partially for damages and any other obligations, for utilities such as Water, Electricity, CATV, Telephone, Association Dues or resulting from termination of this agreement. 5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, the LESSOR at its option may terminate this contract and eject the LESSEE. 5. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric, cable TV, water, Internet, association dues and other public services and utilities during the duration of the lease. 6. This AGREEMENT OF LEASE shall be valid and binding between the parties, their successors-in-interest and assigns. 7. Parties hereby affixed their SIGNATURES on the date and place above written, signifying that they UNDERSTAND, AGREE and WILL BE SUBJECTED to the TERMS AND CONDITIONS as stated above.

Cheryl Enario LESSOR

________________________ LESSEE

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