Sample Land Rental
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Transcript of Sample Land Rental
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8/13/2019 Sample Land Rental
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(Contract of Lease - Simple Form)
CONTRACTOFLEASE
KNOW ALL MEN BY THESE PRESENTS:
This ContractofLeasemade and entered into by and between:
_____________, oflegal age, Filipino, (single / married / widow),and a resident
of_____________, Philippines, (hereinafter referred to as the "LESSOR");
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_____________, oflegal age, Filipino, (single / married / widow),and a resident
of_____________, Philippines, (hereinafter referred to as the "LESSEE");
WITNESSETH That:
WHEREAS, the LESSOR is the owner of a certain parcel of land situated at
_____________, Philippines, more particularly described as follows:
(Technical Description ofProperty)
WHEREAS, the LESSOR desires to lease the afore-described property in favor of the
LESSEE and the LESSEE accepts the leasesubject to the terms and conditions herein set forth.
NOW, THEREFORE, for and in consideration of the terms and conditions mutually
agreed upon by the parties, the LESSOR hereby leaseunto the LESSEE, his heirs, successors
and assigns, the above-described parcel ofland subject to the following terms and conditions, towit:
1. That the term of this lease shall be for a period of _____________ (_____)(years/months) to commence upon the signing of this Contractand shall be renewable
for another _____________ (_____) (years/months) at the option of the LESSEE, and
thereafter renewable upon mutual agreement ofthe parties;
2. That the monthly rentals on the leased premises above-mentioned shall be
__________________________ (P___________), Philippine Currency for the first
_____________ (_____) (years/months)of this agreement, which shall be increased by
__________________________ (P___________) every _____________ (_____)(years/months)thereafter. The rentals shall be paid by the LESSEE to the LESSOR on a
monthly basis payable on or before the_______th day ofthe every month;
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8/13/2019 Sample Land Rental
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3. That upon the signing ofthis Contract, the LESSEE agrees to pay advanced rentals for
_____________(_______) months;
4. That the LESSOR shall pay the real property taxes levied of the leased premises
corresponding to the aforementioned parcel ofland while the LESSEE shall pay the real
property taxes levied on the building and other improvements that shall be introduced bythe latter;
5. It is expressly agreed by the parties herein that any fixed improvements or renovations
that will be introduced in the subject stall shall become the property ofthe LESSOR afterthe expiration ofthe term ofthis Contract.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
_____________at_____________, Philippines.
LESSOR LESSEE
SIGNED IN THE PRESENCE OF:
__________________ __________________
(ACKNOWLEDGMENT)