KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and executed at the City of _____, this day of _______________, 20____, by and between:
(NAME OF LESSOR), of legal age, single/married to (Name of spouse if any), Filipino, and with residence and postal address at (Address), hereinafter referred to as the LESSOR.
-AND-(NAME OF LESSEE), Filipino and with residence and postal address at (Address), hereinafter referred to as the LESSEE.
WITNESSETH; That
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at (Address of property to be leased);
WHEREAS, the LESSOR agrees to lease-out the property 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 residential purposes only and shall not be diverted to other uses. It is hereby expressly agreed that if at any time the premises are used for other purposes, the LESSOR shall have the right to rescind this contract without prejudice to its other rights under the law.
2. TERM: This term of lease is for ONE (1) YEAR. from (Date) to (Date) inclusive. Upon its expiration, this lease may be renewed under such terms and conditions 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 seven (7) 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: AMOUNT IN WORDS (P 00,000.00), Philippine Currency. All rental payments shall be payable to the LESSOR.
4. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this contract and prior to move-in an amount equivalent to the rent for THREE (3) MONTHS or the sum of PESOS: AMOUNT IN WORDS (P 00,000.00), Philippine Currency. wherein the two (2) months deposit shall be applied as rent for the 11th and 12th months and the remaining one (1) month deposit shall answer partially for damages and any other obligations, for utilities such as Water, Electricity, CATV, Telephone, Association Dues or resulting from violation(s) of any of the provision of this contract.
5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as when the checks are dishonored, the LESSOR at its option may terminate this contract and eject the LESSEE. The LESSOR has the right to padlock the premises when the LESSEE is in default of payment for One (1) month and may forfeit whatever rental deposit or advances have been given by the LESSEE.
6. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow or permit the leased premises to be occupied in whole or in part by any person, form 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.
7. 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.
8. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or damaged by fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen disabling cause of acts of God, 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 without compensation by the LESSOR or by the LESSEE by notice in writing to the other.
9. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent 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.
10. 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 tenable 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 therefrom at the same rate plus Twenty Five (25) % 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.
11. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial relief against the other, the losing party shall pay an amount of One Hundred (100) % of the amount clamed in the complaint as attorney's fees which shall in no case be less than P50,000.00 pesos in addition to other cost and damages which the said party may be entitled to under the law.
12. 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.
(Name of Lessor) (Name of Lessee)
LESSOR LESSEE
Signed in the presence of:
_________________________ _________________________
ACKNOWLEDGEMENT
Republic of the Philippines)
_________________________) S.S
BEFORE ME, personally appeared:
Name CTC Number Date/Place Issued
(Name of Lessor) 0000000 May 17, 20__ / Anilao City
(Name of Lessee) 0000000 April 4, 20__ / Arevalo 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 ____ 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 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 20___.
REPUBLIC OF THE PHILIPPINES)
) S.S.
I, (Name), of legal age, Filipino, married and a resident of (Address), after having been duly sworn to in accordance with law, depose and state:
1. That I am the registered owner of a parcel of land situated at (Address of Property) containing an area of FIFTY THOUSAND (50,000) square meters, more or less, covered by Transfer Certificate of Title No. ______ of the Register of Deeds of ____________;
2. That I hereby state that the above-mentioned property has no existing improvements of whatever kind and nature and it remained idle up to the present;
3. That I am executing this affidavit to attest to the truth of the foregoing facts and for whatever legal intents and purposes that it may serve;
IN WITNESS WHEREOF, I have hereunto set my hand this 17th day of August 2020 in Bacolod City, Philippines.
(Name)Affiant
SUBCRIBED AND SWORN TO before me this 17th day of August 2020 in Bacolod City, Philippines, affiant exhibiting to me his Competent Evidence of Identity by way of Passport Identification Card No. 54321 issued on January 7, 2018 in Manila.
Notary Public
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 20__.
Received from (Name of Buyer) with postal address at (Address), the sum of (Amount in Words) (P 000,000.00) covered by ABC Bank, check # 00000000 dated January 1, 20__ representing EARNEST MONEY for payment of a Three-Story house and lot located at (Address of Property) covered by T.C.T. No. T-00000.
This EARNEST MONEY forms part of the purchase price of (Amount in words) (P 0,000,000.00). The balance and full payment shall be paid on or before __________________.
The BUYER hereby reserves the exclusive right to purchase the aforementioned property and the SELLER cannot offer the aforementioned property to any third party until _____________________.
Upon full payment, the SELLER shall execute a DEED OF ABSOLUTE SALE in favor of the BUYER, conveying the subject property with full warranty of a legal and valid title as provided by law, free and clear from any liens and encumbrances.
Upon execution of the DEED OF ABSOLUTE SALE, the SELLER shall undertake the payment of the Capital Gains Tax. The BUYER shall shoulder the payment of the Documentary Stamps Tax, Transfer Tax, Registration Fee and all other expenses to transfer the title of the property under his name.
In case of voluntary cancellation of this agreement by the BUYER without any cause on the part of the SELLER or if the BUYER fails to comply with his obligations mentioned, then the SELLER shall have the right to terminate this agreement in which case the EARNEST MONEY in the amount of (Amount in words) (P 000,000.00) shall be forfeited in favor of the SELLER as liquidated damages.
January 1, 20_____
(SELLER)(BUYER)
Signature over Printed Name Signature over Printed Name
No budget? No credit card? Are you a little short for your budol? Shopee has an answer for you.
Shopeeis the largest online marketplace in the Philippines is now offering SPayLater so you can enjoy their buy now, pay later in your Shopee purchase. You can check out the product and pay it next month to make it flexible in your budget.
What is SPaylater?
SPaylater is a feature of Shopee that offers “buy now, pay later” or installment loan for qualified users in purchasing products using Shopee.
Who are eligible for SPayLater?
SPayLater is currently only available to select Shopee users who are at least 21 years old and have valid IDs.
Valid IDs that are accepted by SPayLater are:
Unified Multi-Purpose ID (UMID)
Driver’s License
Passport
Postal ID
PRC ID
National ID
SPaylater Processing Fee, Interest, Late Payment Fee
Processing Fee
Interest
Late Payment Fee
0-2% of the total amount
1 – 5% per month of the total order amount
2.5 – 5% per month of the outstanding balance
The interest rate is based on your personal credit profile.
What’s my credit limit?
The available credit limit granted is subject to the discretion of Shopee and is based on your spending history. Shopee may also review your SPayLater account from time to time and adjust (increase or decrease) your credit limit periodically.
How to Activate SPayLater in Shopee
1. On the home screen select Metab, select SPayLater and Activate Now
2. Enter the One-Time Password sent to your registered mobile number
3. Start the activation process by uploading your valid government-issued ID, filling out SPayLater and other required information, and lastly facial verification.
4. You will receive a prompt message that you have successfully activated your SpayLater showing your credit limit and you can select your due date.
To know more about SPayLater, you can log in to your Shopee account or you may also call the customer service hotline (02) 8880-5200.
When working remotely for a client or sending money to your family back home, you have probably tried to set up a Paypal account.
Usually transacting in Paypal they ask for bank codes when you are adding your bank account, receiving money, and withdrawing funds from your PayPal account to your local bank account.
WHAT IS A BANK CODE?
A bank code or Bank Routing Symbol Transit Number (BRSTN) is a nine-digit code assigned to a bank used for identifying its name, city, and country. It’s a mix of numbers designated to each bank for identification in the financial transaction.
WHAT IS THE PURPOSE BANK CODE?
It is used as the standard for banks as an identifier for sending and receiving money in the Philippines.
