MOTOR VEHICLE RENT-TO-OWN RENT-TO-OWN AGREEMENT AGREEME NT
KNOW ALL MEN BY THESE PRESENTS: This This AGRE AGREEM EMEN ENT T, made made and and ente entere red d this this day day o !!!!! !!!!!!! !!!!! !!!!! !!!! !! at !!!!!!!!!!!!!!!!!!!!, Phi"i##ines and $et%een:
ERNEST ERNESTO O O& '(MAP( '(MAP(L(S L(S )R& and LAR(NA LAR(NA L& LA*AP LA*AP $oth $oth o "e+a" a+e, a+e, i"i#ino %ith $-siness address at .nit / B"0& 1 Lot 23 Mi""%ood 4i""e P-"o, *a$-yao, La+-na, Phi"i##ines and hereinater 5a""ed the (RST PARTY,
6And6 RONAL'O 4& ABA' and *ATHY R& NAG.(T $oth o "e+a" a+e, i"i#ino, sin+"e %ith residen5e and #osta" address at Ph2 B7 L11 *e"ina P"ains S-$di8ision, La$as, Sta&Rosa, La+-na, Phi"i##ines and hereinater 5a""ed the SE*ON' PART PARTY Y9
I. RECITALS a) Whereas the the FIRST PARTY PARTY is the owner owner of the following following motor vehicle vehicle escri!e escri!e as follows"
!)
0otor $o." 0oel" 0< File" Plate $o."
2A9,5C0':97 0ITS5;ISI 0IRA1E 16 1LS ' ,-': '2-'4-----:-:,=2 *Con&ction Stic3er) $>4--6=
Whereas the SEC#$% PARTY is esiro&s of leasing an has agree to lease the aforesai motor vehicle on the terms an conitions herein containe. NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:
'. RE$TAL The motor vehicle is here!( lease at a ail( rate of #ne Tho&san Two &nre Pesos *PhP '+,--.--) Philiine C&rrenc( e/cet of coing a(*Th&rsa(s)+ Christmas+ $ew Year+ 0a&n( Th&rsa(s an 1oo Fria(s. The secon art( has agree to a( an amo&nt of PhP2'+,-- a(a!le in ' month &on e/ec&tion of this agreement. ,. 0A$$ 0A$$ER ER #F #F PA PAY0E$ Y0E$T T Secon art( shall remit a(ments of !o&nar( h&log on a ail( !asis or wee3l( !asis ever( coing a( of the wee3 thr& 14CAS+ !an3 eosits or in an( manner convenient to !oth arties. 2.
%5R %5 RATI#$ The term of this non4renewa!le lease is for 67 months which shall commence on 888888888888888 888888888888888888888. 888888.
6. FIRST PARTY?S #;LI1ATI#$S The FIRST PARTY here!( agrees" a) To grant the SEC#$% PARTY e/cl&sive &se an ossession of the motor vehicle. !) To grant the SEC#$% PARTY @&iet ossession of the motor vehicle c) To warrant the SEC#$% PARTY free from an( claim of thir ersons
6. The SEC#$% PARTY #;LI1ATI#$S The SEC#$% PARTY here!( agrees" a) To 3ee a(ments &l( &ate to the FIRST PARTY !) To 3ee the motor vehicle comrehensivel( ins&re with a re&ta!le ins&rance coman( thro&gho&t the &ration of this agreement c) To !e resonsi!le for the normal service+ reair+ fair wear an tear of the motor vehicle ) To ens&re that the motor vehicle is &se in a s3ilf&l an roer manner an onl( riven !( ersons that !ear a vali riving ermit e) To !e resonsi!le for cost relating to f&el+ t(re &nct&re an oil toing & !etween services as well as an( costs of ar3ing fines an towing e/enses for illegal ar3ing f) To !e resonsi!le for the registration of the motor vehicle after the 24(ear free registration of the ealer. g) Shall not remove an( arts of the motor vehicle witho&t the 3nowlege of the FIRST PARTY. h) Shall maintain the original set & of the motor vehicle. :. %EFA5LT I$ PAY0E$T In case of efa< !( the SEC#$% PARTY in the a(ment of the rent+ the FRIST PARTY+ at its otion ma( terminate this contract an reossess the s&!Bect motor vehicle. owever+ the SEC#$% PARTY is given seven *=) a(s grace erio within which to settle the acco&nt from ate rental a(ment is &e. . ;REAC #F C#$%ITI#$S
as
In case of !reach !( the SEC#$% PARTY of an( of the conitions an covenants of this lease herein sti&late+ the FIRST PARTY at its otion+ ma( forthwith terminate an cancel this lease an the SEC#$% PARTY shall !e lia!le for an( an all amages as a res< of s&ch efa< an termination. All a(ments mae rior to !reach shall also !e forfeite. In case of !reach !( the FIRST PARTY of an( of the conitions an covenants of this lease as herein sti&late+ the SEC#$% PARTY at its otion+ ma( forthwith terminate an cancel this lease an the latter shall ret&rn all a(ments mae !( the SEC#$% PARTY. =. TRA$SFER #F #W$ERSIP The FIRST PARTY shall eliver to the SEC#$% PARTY all necessar( oc&ments for transfer of ownershi of the motor vehicle &on f&ll a(ment sti&late in this contract. The SEC#$% PARTY shall !e resonsi!le with all the transfer e/enses &ner his name. 7. LITI1ATI#$ A$%
arties here!( agree that the ven&e of co&rt action arising from this contract shall !e e/cl&sivel( in the roer co&rt of Ca!&(ao Cit(+ Lag&na.
(N W(TNESS WHEREO, ( ha8e here-nto set my hand this !!!!!! day o !!!!!!!!!!!!! 731, in !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, Phi"i##ines&
FIRST PARTY
SEC#$% PARTY
ER$EST# #. %I0APILIS >R.
R#$AL%# <. A;A%
LARI$A L. LACAP
CATY R. $A15IT
S(GNE' (N THE PRESEN*E O: !!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!!!!!!!!!!! A*KNOWLE'GMENT
REP.BL(* O THE PH(L(PP(NES; !!!!!!!!!!!!!!!!!!!!!!!!!!!! ; S&S& BEORE ME, a Notary P-$"i5 or and !!!!!!!!!!!!!! #ersona""y a##eared: NAME ERNESTO O& '(MAP(L(S )R& LAR(NA L& LA*AP R#$AL%# <. A;A% CATY R. $A15IT
(' PRESENTE'
in
the
!!!!!!!!!!!!!!!!!!!!!!!, this
'ATE (SS.E'
0no%n to me and to me 0no%n to $e the same #ersone5-ted the ore+oin+ Motor 4ehi5"e Rent6to6O%n A+reement 5onsistin+ o three ?2; #a+es in5"-din+ the #a+e on %hi5h this A50no%"ed+ment is %ritten, and %ho a50no%"ed+ed to me that the same is their ree and 8o"-ntary a5t and deed& WITNESS my hand and seal. NOTARY PUBLIC
'o5& No&: Pa+e No&: Boo0 No&: Series 731&
