CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease entered into by and between:

MARK A. BEN, of legal age, Filipino and with residence address at Filinvest 1, Batasan Hills, Quezon City, hereinafter referred to as the “LESSOR”;

-and-

CADP BUILDERS INC., a corporation duly organized under the laws of the Philippines with business address at IBP Road, Batasan Hills, Quezon City, represented by its President Engr. AYLYN A. RODEL, of legal age, Filipino and with office address at Kalusugan St., Batasan Hills, Quezon City, hereinafter referred to as the “LESSEE”.

- witnesseth that -

The LESSOR as absolute owner, hereby leases unto the LESSEE and the latter accepts in lease, the commercial space located at Kasiyahan St., Batasan Hills, Quezon City, containing an area of Thirty (30) square meters more or less, herein referred to as the Property, under the following terms and condition.

1. TERM – The term of this lease shall be a period of ONE (1) year commencing on January 1, 2022 to December 31, 2022, renewable upon mutual agreement of the parties.
2. RENTAL – The LESSEE shall pay to the LESSOR or to his duly authorized representatives, the monthly rental of FIVE THOUSAND PESOS ONLY (PHP 5,000.00).
3. Upon signing of the contract, the LESSEE shall pay to the LESSOR an amount of Fifteen Thousand Pesos Only (Php 15,000.00) representing One (1) month advance and Two (2) months deposit. The advance rental shall be applicable to its first month rental. The deposit shall answer as security deposit for any damage done by the leased premises and the balance, if any, shall be refunded by the LESSEE after the termination/turn-over of the leased premises.
4. UTILITY CHARGES – the LESSEE shall be responsible for the payment of utility such as electricity, water, telephone and other services used in, or connected with the premises.
5. INSPECTION OF THE PREMISES – The LESSEE shall permit the LESSOR or his duly authorized representative to enter and make periodic inspection on the leased premises during reasonable hours of the day.
6. NOTICE TO THE LESSEE – In the event that the LESSOR shall decide to sell the Property to the third parties, the LESSOR shall give LESSEE due notice equivalent to three (3) months prior to the date of sale or transfer or in relation thereto, shall give the LESSEE the right of first refusal;
7. The LESSEE shall be free to make renovations, improvements and add fixtures as may be necessary provided that such additions shall become properties of the LESSOR upon the termination or expiration of the contract of lease including its renewal;
8. The LESSEE shall preserve and maintain the premises in good order and condition with all the due diligence as provided by law.
9. The LESSOR shall not allow competing business carrying the same product as the LESSEE to operate at the same location or within his premises.
10. The LESSOR warrants that he is the legal owner of the subject property and that there are no hindrances whatsoever in the LESSEE’s occupation of the subject property;
11. The LESSOR shall provide an alternative space as substitute in case the government is in need for its road widening projects.
12. PRE-TERMINATION – The LESSEE shall have the option to pre-terminate the lease by giving the LESSOR sixty (60) days advance notice of the LESSEE’s intention to pre-terminate the lease with the second condition to refund to the LESSEE its Two (2) deposit amounting to TEN THOUSAND PESOS ONLY (PHP 10,000.00) after deducting electric and water bills, if for reasons that financial difficulties or business reverses occurs making it unprofitable for the LESSEE to continue leasing the leased premises, otherwise shall applied on the last term of occupancy.
13. The LESSEE hereby agrees to surrender the leased premises upon the expiration of this contract in good condition as reasonable wear and tear will permit and without delay whatsoever devoid from all occupants, furniture and articles of any kind other than such improvements and alterations duly approved by the LESSOR.
14. Non-compliance or violations of any of the terms and conditions of this Contract shall be sufficient cause for termination of this Lease Contract and ejectment of the LESSEE. In such case, the LESSOR shall have the right to forfeit all deposits of the LESSEE without prejudice to the filing of necessary, the LESSEE shall additionally be liable for cost of suit, attorney’s fees and liquidated damages, an amount equivalent the rental deposit.

IN WITNESS WHEREOF, the parties hereunto set their hands this ________day of January 2022 at ___________________, Philippines.

CADP BUILDERS, INC.
Lessee


By:
AYLYN A. RODEL BEN A. MARK
President Lessor

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