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Lease Contract

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CONTRACT OF LEASE

CONTRACT OF LEASE

KNOWN ALL MEN BY THESE PRESENTS:

BATANGAS STATE UNIVERSITY (BSU) is an institutions of higher learning of Republic of the Philippines, situated in Batangas City and Represented by the partners herein after the lessor,
And
The LESEE DIL Manuacturing Company, a partnership duly organized and existing under and by the virtue of the laws of the Philippines, with its principal place of business at Balagtas, Batangas City.

WITHNESSETH The LESSEE desires to lease from the LESSOR and the latter agrees to lease a space in a building located in Balagtas, Batangas City. NOW THEREFORE considering the foregoing premises the LESSOR and the LESSEE hereby agree as follows:

1. TERM OF LEASE- the term of this lease shall be five years beginning from 1st day of January until December 2019. This may be annually renewed by the contracting parties through the execution of the instrument provided that they agree with the same other stated stipulations. A letter of intent to renew this agreement must be submitted by the LESSEE to the LESSOR at least one (1) month before the term of the lease expires. 2. RENTAL- the monthly rental for the leased premises shall be PESOS: 10,000 payable every last day of the month. 3. USE OF THE PREMISE: the premise shall be used by the LESSEE for the plant site and main office. a. The LESSEE hereby acknowledges the leased premises in a good and tenantable condition and undertakes to keep and maintain in the same and orderly tenantable condition as it was the start of the contract. b. The LESSEE shall not keep on store in leased premises any explosive or inflammable materials or anything hazardous to health, safety and security of persons or property. c. The LESSEE shall not bring, keep or store in the leased premises any article prohibited by law, or not shal the...

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