A contract of lease is a legal agreement between a lessor and a lessee, whereby the lessor grants the lessee the right to use and occupy the leased property in exchange for payment of rent. In the Philippines, a contract of lease is governed by the Civil Code of the Philippines and other relevant laws. However, there may be situations where the parties to a contract of lease may need to amend or modify certain terms and conditions of the lease agreement. In this article, we will discuss a sample amendment to a contract of lease in the Philippines.
Sample Amendment to Contract of Lease Philippines:
This amendment to the contract of lease is entered into between [Name of Lessor], hereinafter referred to as the “Lessor” and [Name of Lessee], hereinafter referred to as the “Lessee”.
The purpose of this amendment is to modify and supplement certain terms and conditions of the original contract of lease dated [Date of original contract of lease].
The following terms and conditions are hereby added to the original contract of lease:
a. Term: The term of the lease agreement is extended for an additional [Number of months/years] from the expiration date of the original contract of lease.
b. Rent: The monthly rent payable by the Lessee is increased to [Amount] per month, effective from [Date of effectiveness].
c. Security Deposit: The Lessee shall pay an additional security deposit of [Amount] on or before [Date of payment of security deposit].
d. Renewal: The Lessee shall have the option to renew the lease agreement for an additional [Number of months/years], subject to the same terms and conditions as this amendment.
The following terms and conditions of the original contract of lease are hereby deleted:
[Specify the terms and conditions to be deleted]
This amendment to the contract of lease shall be effective from [Date of effectiveness], and shall be binding upon the parties hereto, their heirs, successors, and assigns.
In conclusion, a contract of lease may be amended or modified by the parties to the agreement, subject to compliance with applicable laws and regulations. A sample amendment to a contract of lease in the Philippines may include additions, deletions, or modifications to the original terms and conditions of the lease agreement. It is important to seek the advice of a legal professional to ensure that any amendments to the lease agreement are valid, enforceable, and in compliance with applicable legal requirements.