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LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS


This CONTRACT OF LEASE is made and executed at the City of Dipolog, this
___ day of 2015 by and between:
AAS GREEN MEADOWS APRTMENT & BOARDING HOUSE, an entity duly
organized in accordance with law, represented by Maria Doreen Paculdo, of legal age,
married, Filipino, and with residence and postal address at South Proper, Galas,
Dipolog City, hereinafter referred to as the LESSOR.

-ANDJOHN D. WOO and MARIA DARA C. SAQUIN of legal age, single, Filipino, and
with residence at Corporal Compound South Proper, Galas, Dipolog City, hereinafter
referred to as the LESSEE.
WITNESSETH; That
WHEREAS, the LESSOR is the owner of an Apartment, Situated at Flores Subdivision,
Sta. Isabel, Dipolog City, and Province of Zamboanga del Norte;
WHEREAS, the LESSOR agrees to lease-out an Apartment unit 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. TERM: This term of lease is for a period of 2 years, from October 1, 2014
inclusive. Upon its expiration, this lease may be renewed under such terms and
conditions as may 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.
2. RENTAL RATE:
The monthly rental rate for the Apartment unit shall be seven
thousand pesos only Philippine Currency. All rental payments shall be payable to
the LESSOR.
3. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this
contract and prior to move-in amount equivalent to the rent for TWO (2)
MONTHS or the sum of fourteen thousand pesos only (Php 14,000.00) Philippine
Currency. The deposit shall be considered as an advance payment for the first
month of Lessees occupancy and the remaining amount of the deposit (Php
7,000.00) shall be considered as deposit guarantee to answer for the utility
expenses (water, electric, etc.) which the lessee may have incurred during
her/his occupancy. The amount may only determine after the lessees occupancy
and termination of the contract. The said deposit guarantee shall also answer for
damages and any other obligations. Any amount left from the Guarantee deposit
shall be turned over to the lessee after expenses/damages are already being
cleared. The lessor reserves the right to collect from the lessee, if the expenses
is more than the amount of the Guarantee deposit.
4. PUBLIC UTILITIES: The LESSEE shall pay for its electric, water and other public
services and utilities during the duration of the lease.

5. 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.
6. REPAIRS: The LESSOR shall pay for the maintenance and repairs of the
buildings during the duration of the Contract. The LESSEE shall not be allowed
to introduced any improvement on the premises without the consent of the
lessor;
7. EXPIRATION OF LEASE: At the expiration of the term of this lease or
cancellation thereof, as herein provided, the parties shall inspect the premises
together. If no damage(s) or violation on the property, the LESSEE will promptly
deliver to the LESSOR the leased premises with all corresponding keys and in as
good tenable condition.
The damage(s) shall be mutually determined and valued by the parties;
8. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors-in-interest and assigns.
In witness whereof, the parties hereto have subscribed their names this 2 nd day
of October 2014 at Dipolog City, Philippines.

AAS GREEN MEADOWS APARTMENT


& BOARDING HOUSE
Represented by:
JOHN D. WOO
Lessee
MARIA DOREEN S. PACULDO
Lessor

MARIA DARA C. SAQUIN


Lessee

SIGNED IN THE PRESENCE OF:


_________________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF Zamboanga del Norte ) S.S
City of Dipolog
)

_____________________

BEFORE ME, on this day of December 8, 2015, personally appeared:


Name

ID No.

Date & Place of Issue

Maria Doreen S. Paculdo


John D. Woo
Maria Dara C. Saquin

Known to me and to me known to be the same person who executed the


foregoing instrument and who acknowledged to me that the same is their own free and
voluntary act and deed and that of the corporation they represent.

WITNESS MY HAND AND SEAL this ___ day of December 2015 at Dipolog City

Doc. No. ______


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