Contract of Lease.xlsx 1

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  Page 1 of 3 LEASE CONTRACT   KNOW ALL MEN BY THESE PRESENTS:    This CONTRACT OF LEASE is made and executed at the Quezon City, this day of  January 16, 2019, by and between:   NENETTE L. BROWN , of legal age, married, Filipino, and with residence and postal address at #47 VICTORIA STREET, BRGY. SAUYO NOVALICHES, QUEZON CITY , hereinafter referred to as the LESSOR.   -AND-   EDUARDO A. VESAGAS III doing business as TJQM CCTV SUPPLIES AND SERVICES , Filipino and with residence and postal address at UNIT 203, #47 VICTORIA ST., BRGY. SAUYO NOVALICHES QUEZON CITY hereinafter referred to as the LESSEE.   WITNESSETH; That   WHEREAS, the  LESSOR is the owner of THE LEASED PREMISES, a residential property situated #47 VICTORIA ST., BRGY. SAUYO NOVALICHES QUEZON 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 its display of general merchandise business only. 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 JANUARY 16, 2019 to JANUARY 16, 2020 inclusive OR as long as the owner of the business intends to run the business. 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.   3. RENTAL RATE:  The monthly rental rate for the leased premises shall be in ONE  THOUSAND PESOS ONLY (P1,000.00), Philippine Currency. All rental payments shall be payable to the LESSOR.    Page 2 of 3 4. 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.   5. SUB-LEASE:  The LESSEE shall not directly or indirectly sublease, 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.   6. 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.   7. 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.   8. 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.   9. 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.   10.  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.    Page 3 of 3 EDUARDO A. VESAGAS III doing business as TJQM CCTV SUPPLIES AND SERVICES LESSEE NENETTE L. BROWN LESSOR ACKNOWLEDGEMENT   Republic of the Philippines)    _________________________) S.S   BEFORE ME, a Notary Public in the Quezon City, this ____ day of __________, personally appeared the following with their respective proof of identification indicated after their names:   EDUARDO A. VESAGAS III (Lessee); Passport No. P5524038A; CITY OF MANILA; ISSUED 01/05/18 NENETTE L. BROWN (Lessor); UMID No. CRN- 033-0020702-1; QUEZON CITY 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.   WITNESS MY HAND AND SEAL, on the date and place first above written.   Notary Public   Doc. No.______; Page No. ______; Book No.______; Series of 20___.  
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