Parking Space Rental Agreement

PARKING SPACE RENTAL AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Parking Space Rental Agreement (the "Agreement") is made and executed at the City/Municipality of _______________________________ Province of _______________________________, this ________ day of ________________, 20____, by and between:

________, with the following nationality: Filipino, of legal age, with address at: ________, hereinafter referred to as the "Lessor"

- and -

________, with the following nationality: Filipino, of legal age, with address at: ________, hereinafter referred to as the "Lessee"

The Lessor and the Lessee shall hereinafter be referred to collectively as the "Parties"

WITNESSETH THAT:

WHEREAS, The Lessor owns a parking space and wishes to offer the same for rent;

WHEREAS, The Lessee wishes to rent said parking space from the Lessor;

NOW THEREFORE, for and in consideration of the foregoing premises and the terms and conditions set forth herein, the Parties have agreed as follows:

1. PARKING SPACE

The Lessor hereby agrees to provide, and the Lessee agrees to rent, the parking space located at the following address:

________

with the following description:

________

The Lessee's lease of the parking space will hereafter be referred to as the "Lease".

2. PERMITTED CARS

Only the following vehicle will be allowed to park in the parking space:

________ with plate number: ________

3. USE OF PARKING SPACE

The Lessee shall use the parking space solely for parking vehicles listed above. The Lessee can use the parking space in accordance with the following schedule:

________

The Lessee shall not be allowed to use the parking space beyond the stipulated schedule unless scheduled with and approved by the Lessor.

4. CAR PASS

The Lessor shall provide Lessee with a carpass to enable the Lessee to use the parking space. The Lessee shall return the car pass to the Lessor upon the expiration of the Lease.

5. DURATION OF THE LEASE

The Lease will begin on ________ and will continue on a month-to-month basis until the Lessor or the Lessee agrees to terminate this Agreement.

6. RENT

The Lessee shall pay ________ (Php________) per month (the "Rent") for the duration of the Lease.

7. SECURITY DEPOSIT

The Lessee shall give to the Lessor a security deposit equivalent to a month's worth of Rent (the "Security Deposit") on or before ________.

The Security Deposit shall answer for any unpaid bills or damages. The balance of the Security Deposit, if any, shall be returned to the Lessee not later than thirty (30) days after the Lessee returns the parking space. The Security Deposit shall not earn any interest.

The Security Deposit shall not be applied to any unpaid rent.

8. PAYMENT

The Lessee agrees that the Security Deposit and the Rent shall be paid in cash every 1st of the month.

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11. FORCE MAJEURE

Neither party shall be liable to the other for damages, loss, injury, or failure to perform or deliver due to fortuitous events or acts of God such as typhoons, earthquakes, floods, riots, etc. which are beyond its reasonable control.

12. ATTENDANTS

The parking space may be attended by parking attendants. In the event that the Lessee uses such attendant to park or drive the Lessee's vehicle, the sole risk of any resulting loss lies with the Lessee and the Lessee shall indemnify the Lessor for any damage which the Lessor or the premises may suffer as a consequence of said use.

13. TERMINATION

This Agreement may be terminated by either party upon a Fifteen (15) Day written notice to the other party.

14. RETURN OF LEASED PREMISES AND CAR PASSES

Lessee shall immediately vacate and surrender the parking space and return to Lessor any car pass issued or given to Lessee upon the termination of this Agreement for any cause. Failure to return any car pass shall subject the Lessee to the costs of the replacement of the same.

15. BREACH OF CONTRACT

Any violation by the Lessee of the terms of this Agreement shall be sufficient grounds for the termination of this Agreement by the Lessor. However, the Lessee shall be given Seven (7) Days from receipt of written notice from the Lessor to correct any violation, and failure to do so shall result in the immediate termination of this Agreement. Lessee shall forfeit any security deposit and all unused advanced rentals. In addition, Lessor shall have the right to exercise all legal rights and remedies available under this Agreement or the law.

Correspondingly, all remedies shall be available to Lessee in the event that Lessor violates the terms of this Agreement. Lessor shall likewise be given Seven (7) Days from receipt of written notice from the Lessee to correct any violation. Upon failing to do so, this Agreement shall be immediately terminated. Lessor shall immediately return to Lessee any security deposit and all unused advanced rentals and pay for any costs or expenses resulting from the said violations.

16. ASSIGNMENT

This Agreement, or the rights granted hereunder, may not be assigned, sold, leased, subleased, or otherwise transferred, in whole or in part, by either party.

17. AMENDMENT

This Agreement may only be amended in writing and signed by both Parties.

18. NO WAIVER

Failure of either party to insist, in one or more instances, the strict performance of any of the terms of this Agreement, or to exercise any portion herein contained, shall thereafter not be construed as abandonment, cancellation, or waiver of such term. No waiver shall be deemed to have been made unless expressed in writing and signed by the Lessor or the Lessee. No waiver of any term or provision of this Agreement shall constitute a waiver of any other term or provision or of the same provision on a future date.

19. SEVERABILITY

The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. In the event that any provision of this Agreement is held to be invalid, the Parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed subsequent to the expungement of the invalid provision.

20. HEADINGS

Headings to this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.

21. COUNTERPARTS

This Agreement may be executed in counterparts, all of which constitute a single agreement. If the dates set forth at the signatures of this document are different, the Agreement shall be considered effective as of the date that both Lessor and the Lessee signed the Agreement.

22. ENTIRETY OF AGREEMENT

This Agreement represents the entire agreement between the Parties and supersedes all prior negotiations, representations, and agreements, either oral or written. This Agreement may be amended only by a written instrument signed and agreed upon by both Parties.

IN WITNESS WHEREOF, the Parties have hereunto affixed their signatures on the date and place first stated above.

________
Lessor

________
Lessee

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )
_______________________________, _______________________________ ) S.S.

BEFORE ME, a Notary Public, for and in the above jurisdiction, this _______ day of ________________________, 20______, personally appeared the following persons:

1. ________, with the following competent proof of identification: ____________________________________

2. ________, with the following competent proof of identification: ____________________________________

all known to me and to me known to be the same persons who executed the foregoing Parking Space Agreement constituting of _________ pages, including this page where the Acknowledgement is written, and they acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the day and place first written above.

Doc No. ________;
Page No. ________;
Book No. ________;
Series of ________.