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 City/Municipality of ___________________________, Province of ___________________________, this ________ day of ________________, 20____, by and between:

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

- and -

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

WHEREAS, 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:

SECTION 1. PARKING SPACE

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

________

with the following description:

________

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

SECTION 2. USE OF PARKING SPACE

Lessee shall use the parking space solely for parking vehicles.

SECTION 3. DURATION OF THE LEASE

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

SECTION 4. RENT

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

SECTION 5. SECURITY DEPOSIT

Lessee shall give to the Lessor a security deposit of ________ (Php________) (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.

SECTION 6. PAYMENT

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

SECTION 7. LIMITATION OF LIABILITY

Lessee agrees to hold Lessor free and harmless from any personal injury, or loss or damage to vehicles, including the contents thereof, which Lessee may suffer from the use of the parking space without fault or negligence on the part of the Lessor.

In no event will Lessor's liability exceed the total amount paid by the Lessee to Lessor for the Lease for any cause of action or future claim.

Lessee acknowledges and agrees that Lessor is not liable for any special, incidental, indirect, punitive, exemplary, or consequential damages arising out of or in connection to this Agreement, provided there is no fault or negligence on the part of the Lessor.

SECTION 8. DAMAGE TO PREMISES

Lessee shall be held responsible for any damage, beyond normal wear and tear, caused by Lessee to the building or facility where the parking space is located. Lessee shall likewise be held liable for replacement or loss of any stolen, misplaced, or damaged property including remote garage door openers or other parking facility related equipment entrusted to or used by Lessee.

SECTION 9. 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, earthquake, flood, riots, etc. which are beyond its reasonable control.

SECTION 10. ATTENDANTS

The parking space will not be supervised by any attendants.

SECTION 11. TERMINATION

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

SECTION 12. RETURN OF LEASED PREMISES

Lessee shall immediately vacate and surrender the parking space upon the termination of this Agreement for any cause.

SECTION 13. BREACH OF CONTRACT

Any violation by the Lessee of the terms of this Agreement shall be sufficient ground for the termination of this Agreement by the Lessor. However, 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.

SECTION 14. 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.

SECTION 15. AMENDMENT

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

SECTION 16. 88 285558

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SECTION 17. 555588852558

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SECTION 18. 85885825

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SECTION 19. 885855828855

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SECTION 20. ENTIRETY OF AGREEMENT

This Agreement represents the entire agreement between the Parties and supersedes all prior negotiations, representations, 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 )
PROVINCE OF ________________________ )
CITY OR MUNICIPALITY OF ________________________ )S.S.

BEFORE ME, a Notary Public, for and in the CITY OR MUNICIPALITY OF ________________________, ________________________, this _______ day of ________________________, 20______, personally appeared the following persons:

1. ________, with the following competent proof of identification: Driver's License with number ________ which expires on ________

2. ________, with the following competent proof of identification: Driver's License with number ________ which expires on ________

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 ________.