Lease Contract

LEASE CONTRACT
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and executed at the City of Legazpi, this day of
_______________, 20__, by and between:
FUELWORKS INC., a domestic corporation duly organized and existing under the law
of the Philippines represented by its President, JOSEPH EMILIO R. BENEDICTO, of
legal age, Filipino, married, and with business and office address at 2ND Flr. Fuelworks
Inc. Bldg. Tahao rd., cor. Alternate, Legazpi City, hereinafter referred to as
the LESSOR.
-AND-
AUTOMARKEN INC., a domestic corporation duly organized and existing under the law
of the Philippines, represented by its President, JEREMIE JANSSEN S. LO, of legal
age, Filipino, married and with business and office address at National Highway, San
Jose, Pili, Camarines Sur, hereinafter referred to as the LESSEE.
WITNESSETH; That
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a portion of a

commercial building situated at Tahao Road corner Alternate Road, Legazpi City,
consisting of Seventy (70) square meters, more or less.;
WHEREAS, the LESSOR agrees to lease-out the portion of the commercial building 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 commercial/ car dealership purposes only and shall not be diverted to any
other uses without prior written consent from the LESSOR. No flammable, volatile, and
cooking paraphernalia and other similar items shall be placed/stored in the leased
premises. The LESSE shall not, at anytime, sell any merchandise that competes
directly/ indirectly, with those of the LESSOR. It is hereby expressly agreed that if at any
time the premises are used for any other purposes, the LESSOR shall have the right to
automatically rescind this contract without prejudice to its other rights under the law.
2. TERM: This term of lease is for one (1) year from November 14, 2016 to November
14, 2017 inclusive. Upon its expiration, this lease may be renewed under such terms
and conditions like application of rental escalation rate and others as my be mutually
agreed upon by both parties; written notice of intention to renew the lease shall be
served to the LESSOR not later than thirty (30) 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 PESOS:
TWENTY THREE THOUSAND ONE HUNDRED PESOS (P 23,100.00), Philippine
Currency, inclusive of withholding tax required to be withheld under applicable laws and
regulations, and the VAT shall be shouldered and paid by the LESSEE. All rental
payments shall be payable to the LESSOR every 14th of the month either by cash or
dated checks. Failure to pay any of the monthly rentals as above-stated shall make the
LESSEE liable to pay LESSOR a monthly interest of two percent (2%) on the unpaid
rentals.
4. DEPOSIT: That the LESSEE shall withheld the previous deposit of the LESSOR in
the amount of PESOS: EIGHTY FOUR THOUSAND PESOS (P 84,000.00), Philippine
Currency and shall also add the amount of EIGHT THOUSAND FOUR HUNDRED
PESOS (P8,400.00) to complete the equivalent of four months advance rentals, the
same to be applied in payment of back rentals, if any, upon the termination of this
Contract, expenses and charges billed against the LESSEE for water, electric,
telephone, and other utility services then remaining unpaid and/or any damage to the
leased property/premises
5. REPAIRS AND IMPROVEMENTS: The LESSEE hereby expressly acknowledges

that the leased premises are in good tenantable condition and agrees to keep the same
in such good and tenantable condition for which purpose he binds himself to undertake
at his exclusive expense all ordinary repairs necessary to maintain the same in such
condition. It is expressly agreed and understood, however, that the LESSEE shall not
commence or proceed with any such repair work nor in any case introduce
improvements or make any alterations in the leased premises without the prior written
consent of the LESSOR: Provided, however, That all improvements or alterations of
whatever nature such as may made therein shall form an integral part of the leased
premises and shall not be removed therefrom but shall belong to and become the
exclusive property of the LESSOR upon the termination of the lease, without need for
reimbursement for the costs thereof;
6. DEFAULT PAYMENT: In case of default by the LESSEE in any of the payments of

the rent to include, when a check is dishonored, the LESSOR at its option may
terminate this contract and eject the LESSEE without need of prior demand or notice to
pay the unpaid rental. The LESSOR has the right to padlock the premises when the
LESSEE is in default of payment for One (1) month and forfeit whatever rental deposit
or advances have been given by the LESSEE.
7. 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, firm 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.
8. SUFFICIENCY OF NOTICE TO VACATE: Deposit in the leased premises of a notice

to vacate shall constitute due and sufficient notice to the LESSEE. Upon termination of
the term of this lease or earlier thereof as this contract provided, the LESSEE hereby
expressly authorizes in advance the LESSOR to enter upon the leased premises,
remove all personal property that may be found therein, and deposit the same in a
bodega, and the LESSEE further agrees to pay all costs for the transfer and storage
thereof
9. 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. Photocopies of the receipts of payments shall be furnished to the
LESSOR every end of the month.
10. FORCE MAJEURE: In case of fire, theft, flood, vandalism, riot, fortuitous event, or
any other unforeseen disabling cause of acts of God, any damage on the leased
premises shall be borne by the LESSEE exclusively. But if the whole or any part of the
leased premises shall be destroyed or damaged, 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 by the LESSOR or by the LESSEE by notice in writing
to the other.
11. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agents 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.
12. 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 tenantable 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 there from at the same
rate plus Fifty (50) % 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.
13. VENUE IN CASE OF SUIT: In case of suit, the parties agree that the same shall
be filed exclusively in the court of Legazpi and/or in the province of Albay;
14. AUTOMATIC TERMINATION: A violation of any of the provisions of this contract on

the part of the LESSEE shall give rise to the automatic termination of this Contract.
15. 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.
FUELWORKS INC., AUTOMARKEN INC.,

LESSOR LESSEE
Represented by: Represented by:
JOSEPH EMILIO R. BENEDICTO JEREMIE JANSSEN S. LO
Signed in the presence of:
_____________________________ ______________________________
ACKNOWLEDGEMENT
Republic of the Philippines)

_________________________) S.S
BEFORE ME, personally appeared:
Name Identification Date/Place Issued
JOSEPH EMILIO R. BENEDICTO SSS ID No. 05-0894613-2 N/A
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.
This instrument consisting of five (5) page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. _____;
Book No.______;
Series of 2017.
ACKNOWLEDGEMENT
Republic of the Philippines)

_________________________) S.S
BEFORE ME, personally appeared:
Name Identification Date/Place Issued
JEREMIE JANSSEN S. LO TIN ID No.112-513-982 Naga 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.
This instrument consisting of five (5) page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. _____;
Book No.______;
Series of 2015.

Lease Contract

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LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a portion of a

TERMS AND CONDITIONS

1. PURPOSES: That premises hereby leased shall be used exclusively by the

5. REPAIRS AND IMPROVEMENTS: The LESSEE hereby expressly acknowledges

6. DEFAULT PAYMENT: In case of default by the LESSEE in any of the payments of

8. SUFFICIENCY OF NOTICE TO VACATE: Deposit in the leased premises of a notice

14. AUTOMATIC TERMINATION: A violation of any of the provisions of this contract on

FUELWORKS INC., AUTOMARKEN INC.,

Represented by: Represented by:

JOSEPH EMILIO R. BENEDICTO JEREMIE JANSSEN S. LO

Signed in the presence of:

Republic of the Philippines)

BEFORE ME, personally appeared:

Name Identification Date/Place Issued

JOSEPH EMILIO R. BENEDICTO SSS ID No. 05-0894613-2 N/A

Republic of the Philippines)

BEFORE ME, personally appeared:

Name Identification Date/Place Issued

JEREMIE JANSSEN S. LO TIN ID No.112-513-982 Naga City

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