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Early Termination

This memorandum of agreement details the early retirement of a lease contract between Camilo Villanos and Gratchiela Artienda. The lease was originally from June 2017 to May 2019. Artienda requested early retirement, which Villanos accepted with conditions: 1) Artienda finds a third party to continue operating the business with terms agreeable to Villanos, 2) Artienda complies with forfeiture clauses but Villanos will only impose a partial forfeiture based on time left in the contract, 3) The memorandum is only effective if the terms are fully complied with without prejudice to existing contract terms.

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Francis Joshua Palmes Faraon
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77 views1 page

Early Termination

This memorandum of agreement details the early retirement of a lease contract between Camilo Villanos and Gratchiela Artienda. The lease was originally from June 2017 to May 2019. Artienda requested early retirement, which Villanos accepted with conditions: 1) Artienda finds a third party to continue operating the business with terms agreeable to Villanos, 2) Artienda complies with forfeiture clauses but Villanos will only impose a partial forfeiture based on time left in the contract, 3) The memorandum is only effective if the terms are fully complied with without prejudice to existing contract terms.

Uploaded by

Francis Joshua Palmes Faraon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MEMORANDUM OF AGREEMENT

Re: early retirement of Lease Contract

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT is made and executed at the Quezon City, Metro Manila, Philippines by
and between:

CAMILO N. VILLANOS of legal age, Filipino, legally married but separated,


with residence at 72 Maginhawa St., UP Village, Diliman, Quezon City,
herein referred to as the LESSOR;

-and –

GRATCHIELA MARICE TAN ARTIENDA, of legal age, Filipina, single with


residence at 137 Malolos Ave., Bagong Barrio, Caloocan City, herein
referred to as the LESSEE.

WITNESSETH

WHEREAS, the Lessor, Camilo N. Villanos and the Lessee, Gratchiela Marice Tan Artienda,
are parties to a Lease Contract covering the period from June 1, 2017 to May 31, 2019. Which said
contract was duly notarized by Atty. Salvador Herberto E. Occiano under Doc. No. 312, Page 87.
Book VII, Series of 2017 dated May 2, 2017 of the latters notarial record.

WHEREAS the Lessee has requested the Lessor for an early retirement of the said Lease
Contract and the Lessor accepts the same subject to the following terms and conditions, to wit :

1. That the Lessee shall present a 3 rd party who shall immediately continue to operate
Pazzo Brew Bar and Lease the same premises of which said 3 rd party shall be
acceptable and agreeable to the terms and conditions of the Lessor.
2. That the Lessee, Gratchiela Marice T. Artienda has subjected herself to comply with
paragraph No. 11 of the Lease Contract, among others, regarding forfeiture of her
Security Cash Deposit. However, on the other hand, the Lessor, Camilo N. Villanos
considered to impose only partial forfeiture of the said security cash deposit based on
the remaining term of their lease contract.
3. That this Memoradum of Agreement is effective only upon strict full compliance of
the foregoing terms and conditions without prejudice to the to the existing, Lease
Contact entered into by both parties which are not inconsistent herewith, and
4. Nothing follows.

IN WITNESS WHEREOF, the PARTIES have hereunto set their signatures at Quezon City,
Philippines this ___ day of August, 2018.

CAMILO N. VILLANOS GRATCHIELA MARICE TAN ARTIENDA


Lessor Lessee

Signed in the presence of:

_______________________ ________________________

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