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Lease Agreement for Sari-Sari Store

This document is a contract of lease between Marcelo B. Espino and Ariston D. Banal. Espino owns Block 1 Building 1 of the Daet Public Market and is leasing a market stall to Banal for use as a sari-sari store. The lease is valid for one year from June 1, 2016 to July 1, 2017, and may be extended upon mutual agreement. Banal will pay Espino 2,000 PHP monthly in advance by the 30th of each month. Banal is responsible for electricity and other utility costs and may not sublease or transfer the premises without Espino's consent.

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Jilian Kate Alpapara Bustamante
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202 views2 pages

Lease Agreement for Sari-Sari Store

This document is a contract of lease between Marcelo B. Espino and Ariston D. Banal. Espino owns Block 1 Building 1 of the Daet Public Market and is leasing a market stall to Banal for use as a sari-sari store. The lease is valid for one year from June 1, 2016 to July 1, 2017, and may be extended upon mutual agreement. Banal will pay Espino 2,000 PHP monthly in advance by the 30th of each month. Banal is responsible for electricity and other utility costs and may not sublease or transfer the premises without Espino's consent.

Uploaded by

Jilian Kate Alpapara Bustamante
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CONTRACT OF LEASE

This Agreement made and executed this June 01, 2016, in Daet, Camarines
Norte, by and between:

MARCELO B. ESPINO, of legal age, married, Filipino citizen, and a resident of


Barangay VII, Daet, Camarines Norte, hereinafter referred to as the LESSOR; and

ARISTON D. BANAL, of legal age, Filipino citizen, and a resident of Daet,


Camarines Norte, hereinafter referred to as the LESSEE;

WITNESSETH:
That the LESSOR is the owner/holder of the rights over Block 1 Building 1 of
Daet Public Market situated at Daet, Camarines Norte;

That the LESSEE offers to rent and utilize the above-described market stall of
the LESSOR as SARI-SARI STORE, and the latter, be these presents, hereby agrees
to lease the same under the following agreed terms and conditions, to wit:

That this Contract of Lease shall be valid for the period of ONE (1) YEAR
deemed to have started on June 01, 2016 and expiring on July 01, 2017. However, this
contract may be extended or renewed thereafter upon mutual agreement of both
parties;

That the monthly lease/rental fee shall be TWO THOUSAND PESOS (Php
2,000), Philippine currency every month which shall be paid in advance by the LESSEE
every 30th day of the month;

That the LESSEE shall pay for the electricity consumption and other utilities
being used in the leased premises;

The LESSEE shall have no right to sublease the premises subject of this lease or
any part or portion thereof to anybody, nor shall have the right to sell, convey, transfer,
or assign the rights hereto acquired to others without prior written consent and approval
of the LESSOR. Violation of this provision shall cause automatic cancellation of this
contract and gives the LESSOR and/or representative an authority to occupy the
premises without need of court action or order;

The LESSEE hereby acknowledges that the premises subject of this lease is in
good and tenantable condition and warrants the same condition up to the termination of
this lease and/or surrender of the premises;

That both parties agree that the LESSEE shall utilize the leased property for legal
and commercial purposes only;

That if the leased premises or portion thereof be damaged or destroyed through


the fault of negligence of the LESSEE and/or his family, guest, friends, visitors, helpers,
or employees, such damage or destruction shall be the responsibility of the LESSEE
who shall pay the value thereof to the LESSOR;
IN WITNESS WHEREOF, both parties have hereunto set their hands this
_______________________, in Daet, Camarines Norte.

MARCELO B. ESPINO ARISTON D. BANAL


Lessor Lessee

Signed in the presence of:

_________________________ _________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


PROVINCE OF CAMARINES NORTE )SS.
MUNICIPALITY OF DAET )

BEFORE ME, A Notary Public for and in the Province of Camarines Norte, this
__________________, personally appeared the above-named persons, known to me,
and to me known to be the same persons who executed the foregoing instrument which
they acknowledged before me as their free and voluntary act and deed.

This instrument refers to Contract of Lease consisting of two (2) pages including
the page on which the acknowledgment was written, signed by both parties and their
two (2) instrumental witness on every page hereof.

WITNESS MY HAND AND SEAL.

Doc. No. ___________


Page No. __________
Book No. __________
Series of 2016.

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