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CONTRACT OF LEASE

THIS AGREEMENT made and executed by and between:


OSCAR A. PELICANO, of legal age, married, Filipino citizen and
resident of Lapasan, Cagayan de Oro City, hereinafter called the
LESSOR,
and
LESINO MAGEN JUANITO, of legal age, Filipino citizen, and a
resident of Cagayan de Oro City, hereinafter called the LESSEE.
WITNESSETH
That the Lessor is the registered owner of a property located at
Agora, Lapasan, Cagayan de Oro City, Philippines, more particularly
described as follows:
________________________________________________________________________
______________________________________________________________________
That the lessor agrees to lease the abovementioned property to
the lessee under the following terms and conditions:
a) That the term of the contract is TWO YEARS and renewable
upon agreement by the parties. The monthly rental is at
NINETEEN THOUSAND (PHP 19,000.00) Philippine Currency
payable upon the execution of this contract and the succeeding
monthly rental on or before the last day of every month.
b) That the monthly rental for the leased property will increase by
five percent (5.00%) every two years or upon agreement by
the parties;
c) That the lessor will not reimburse the lessee for the amount of
improvements and/or structures in contravention of this
agreement that the latter might construct. At the end of the
contract, the lessee is allowed to demolish and/or remove any
improvements or structures, provided that it will not cause any
damage to the property.
d) The lessee is prohibited to sublease the said property.
e) That the lessee agrees to clean, maintain and take care of the
property including all the existing fixtures and furniture in the
said property. However, the lessee shall not be allowed to
remove, remodel, and/or demolish the existing fixture and
furniture of the said property without the consent of the lessor.
f) That if the lessee violates any of the conditions herein, the lessor
has the right to terminate the contract and the lessee shall
vacate and peaceably surrender to the lessor, forfeiting any right

to whatever improvements introduced thereon in favor of the


lessor without right to reimbursement.
g) That the lessor has the right to pre-terminate this contract if
there is need to use the said property and the lessee shall be
reimbursed for the amount of rent of the unused term and for the
value of improvements thereon.
IN WITNESS WHEREOF, the parties hereunto affixed their signatures
this ____________________ at Cagayan de Oro City, Philippines

OSCAR A. PELICANO
LESSOR

LESINO
JUANITO

MAGEN
LESSEE

Signed in the Presence of:


1.

2.

ACKNOWLEDGMENT
Republic of the Philippines)
City of Cagayan de Oro
) S.S.
th
BEFORE ME THIS
day of August 2015 in the City
of Cagayan de Oro, personally appeared the above named persons known to
me to be the same persons who executed the foregoing instrument, and they
acknowledge to me that the same is their free act and deed.

This instrument refers to Lease Contract consisting of TWO (2) pages,


including the page on which this acknowledgment is written, has been
signed on the left margin of each and every page thereof by the parties and
their instrumental witnesses, and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand, the day, year and
place above written.

ATTY. EDITH ABUT DOCDOCIL

Doc. No.
Page No.
Book No.
Series of 2015

Notary Public until December 31, 2016


102 Salvosa Building, Capistrano-Luna Sts.
9000 Cagayan de Oro City
Notarial Commission 2015.028
Mobile No. 09.168.468.111
MCLE Compliance No.lV-000.7677 09.11.12
Roll of Attorneys No.56463
PTR No. 2688695 11.11.2014 CDO
IBP No. 945496 11.11.2014 CDO

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