CONTRACT OF LEASE

 
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of _____, this day
of _______________, 2022, by and between:
 
SALVADOR R. OROLFO married to MARILOU H. OROLFO, both of legal
age, Filipinos, and with residence address at 719 Agudo Street, Barangka Drive,
Mandaluyong City, hereinafter referred to as the LESSOR.
-AND-
DEMUELL JIM B. BOARAO Filipino and with residence and postal address at
Blk. 11, Lot 10, Ciudad Nuevo, Naic, Cavite, hereinafter referred to as
the LESSEE.
 
WITNESSETH:
 
WHEREAS, the LESSOR is the owner of the LEASED PREMISES, a residential
property situated at 719 Agudo Street, Barangka Drive, Mandaluyong 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 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 at any time the premises are used for other
purposes, the LESSOR shall have the right to rescind this contract without
prejudice to its other rights under the law.
 
2. TERM:  This term of lease is for ONE (1) YEAR. from 15 August 2022 to 16
August 2023. Upon its expiration, this lease may be renewed under such terms and
conditions as my be mutually agreed upon by both parties,  written notice of
intention to renew the lease shall be served to the LESSOR not later than seven (7)
days prior to the expiry date of the period herein agreed upon.
 
3. RENTAL RATE:   The monthly rental rate for the leased premises shall be in
PESOS: EIGHT THOUSAND (P 8,000.00), Philippine Currency. All rental
payments shall be payable to the LESSOR every 15th of the month.
 
4. DEPOSIT:   That the LESSEE shall deposit to the LESSOR upon signing of
this contract and prior to move-in an amount equivalent to the rent for TWO (2)
MONTHS or the sum of  PESOS: SIXTEEN THOUSAND (P 16,000.00),
Philippine Currency.  Wherein the ONE (1) month deposit shall be applied as rent
for the 12th month and 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 violation(s) of any of the
provision of this contract.
 
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 (1)
month and may forfeit whatever rental deposit or advances have been given by the
LESSEE.
 
6. SUB-LEASE:   The LESSEE shall not directly or indirectly sublet, 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. 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.
 
8. 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.
 
9. LESSOR'S RIGHT OF ENTRY:   The LESSOR or its authorized agent shall
after giving due notice to the LESSEE shall have the right to enter the premises in
the presence of the LESSEE or its representative at any reasonable hour to examine
the same or make repairs therein or for the operation and maintenance of the
building or to exhibit the leased premises to prospective LESSEE, or for any other
lawful purposes which it may deem necessary.
 
10. 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 therefrom 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.
 
11. JUDICIAL RELIEF:   Should any one of the parties herein be compelled to
seek judicial relief against the other, the losing party shall pay an amount of One
Hundred (100) % of the amount clamed in the complaint as attorney's fees which
shall in no case be less than P50,000.00 pesos in addition to other cost and
damages which the said party may be entitled to under the law.
 
12. 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.

SALVADOR R. OROLFO DEMUELL JIM B. BOARAO

Signed in the presence of:

_____________________________ _____________________________
 
 
ACKNOWLEDGEMENT
 
Republic of the Philippines)
______________________) S.S
 
BEFORE ME, personally appeared:
 
Name ID Name & Number Date& Place of
Issue
Salvador R. Orolfo DRIVER’S LIC N01-95-176644 27 July 2023
Demuell Jim B. Boarao
 
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. This instrument consisting of three (3) 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 my notarial
seal.
 
WITNESS MY HAND AND SEAL, on the date and place first above written.

Notary Public
Doc. No._____;
Page No. _____;
Book No._____;
Series of 2022.