PROPERTY # 11409 - COMMERCIAL LOT FOR RENT IN TALAMBAN, CEBU LOT AREA: 1,225 SQM MONTHLY RENTAL: Php 245,000
PARTICULAR TERMS & CONDITIONS a. Location / Area Size: Talamban, Cebu City, Cebu 1,225 SqM. b. Lease Term Ten (10) years, renewable with new terms and conditions both agreed by the Signal Properties Corporation and the Lessee c. Handover Date
c. 1 Lease Start Five (5) days from Signing of this Lease Offer – area shall be in ‘as is where is” condition
Five (5) months after handover date with no extension
d. Rental Rate per month (exclusive of VAT) 1st Year ₱200.00 /sqm /month 2nd Year ₱200.00 /sqm /month 3rd Year ₱250.00 /sqm /month 4th Year ₱300.00 /sqm /month 5th Year ₱332.75 /sqm /month 6th Year ₱366.03 /sqm /month 7th Year ₱ 402.63 /sqm /month 8th Year ₱442.89 /sqm /month 9th Year ₱487.18 /sqm /month 10th Year ₱535.90 /sqm /month
VAT on rentals and Documentary Stamp Tax shall be on the account of the LESSEE. Rent is payable monthly, upon signing of the Contract of Lease, the Lessee shall issue Post-dated checks payable to the LESSOR to cover the monthly rental and shall deliver to the Lessor upon signing of the contract. PDC Requirement: covered with post-dated checks for the entire duration e. Security Deposit: Php1,470,000.00 representing the Six (6) months rent (exclusive of VAT). The Security Deposit shall be refunded Ninety (90) days from the expiration of the lease subject to the payment of any outstanding financial obligations by the LESSEE and completion of all required documents for the refund of the Security Deposit. It shall not be used to pay the monthly rentals and/or arrears. The security deposit amount shall increase with the corresponding annual rental increase.