Lease Contract

In: Other Topics

Submitted By naldpogi2005
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This CONTRACT OF LEASE is made and executed at the City of Angeles, this day of _______________, 20__, by and between: Azucena B. Dizon, of legal age, widowed, Filipino, and with residence and postal addressat 9259 Del Pilar st. Dau Mabalacat Pampanga , hereinafter referred to as the LESSOR. -AND- HOREB International a Korean non profit religious organization and with residence and postal address at Timog Park Angeles City, hereinafter referred to as the LESSEE. WITNESSETH; That WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at Corazon Ave. Barrio CutCut Angeles 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 FIVE (5) YEARS. from August 1 2013 to August 1, 2018 inclusive. 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: THREE…...

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