In the city of ………. to ………………, appear for the execution of this contract, on the one hand, Mr- ———–, for their own rights, Ecuadorian, single, residing in this city of Quito, with citizenship # …………….. …. and who henceforth and for purposes of this contract will be referred to as the ” LESSOR “and, moreover, Mr. —————— -, as General Manager and therefore —————- legal representative, with number of RUC # ………… ……………, who henceforth and for the same purposes of this contract will be referred to as the ” LESSEE “who express their will freely and voluntarily for their own rights and which represents, to enter into this Lease to the tenor of the following clauses:
FIRST: OBJECT OF THE CONTRACT. – The “LESSOR” owns ____________________ located at _________________, Province Pichincha Canton Quito. This property consists of FOUR (4) bedrooms, living room, kitchen and three (3) full baths. Which are in good condition and fully functional electrical installations, also has one (1) water heater to provide hot water to Penthouse that is in working order . The exclusive destination of the property covered by this contract, is for housing, and it is expressly forbidden to sublet in whole or in part. The LESSOR expressly makes clear that, undertakes to carry out the respective arrangements of the property before its delivery, and the satisfaction of the “LESSEE”.
SECOND: TERM. – As stipulated in the Tenancy Act, the term of this Agreement shall be two (2) years from the signing of the same, which may be extended automatically by the parties, if that have not been communicated by writing three (3) months in advance of the expiration of the intention to terminate the Agreement. The contract, in this way, shall be extended for a similar period.
THIRD: rental fee . – The lease agreed by mutual agreement between the “Lessor” and “Lessee” is ________________________ month, which will be paid within ten (10) days of each month. In addition to the agreed rental fee, the “LESSEE” _________________ agrees to cancel monthly Condominium dues, and all values of the cards issued by their consumption of water, electricity and telephone use. For the payment of condominium fees, the “LESSEE” agrees to pay additional amounts and adjustments to be made in this connection.
Each year the “LESSOR” is entitled to an adjustment of rental fees, the same can not be greater than the annual inflation rate, and not to exceed TEN PERCENT (10%) of the value of rental fees stipulated.
FOURTH: WARRANTY. – To guarantee faithful performance of this Agreement, the “LESSEE” delivery in this act, the sum of ______________________ to ensure that the property subject of this Agreement is delivered to the “LESSOR”, in the same condition received it. This value will be refundable after thirty (30) days from the date of termination of this Agreement, provided that no damage has occurred on the property subject to this Agreement. Furthermore, for the case that the “LESSOR” alienates the property before completion of the contract or the renewal of the case, expressly agrees to notify the “LESSEE”, with ninety (90) days prior , counted from the respective subscription of Sale Agreement and the immediate return of all of the collateral and, in the case of not doing the “LESSOR”, pay a fine for each month of ___________ of default or delay.
FIFTH: MONTHLY COSTS ATTRIBUTABLE TO CANON. – The costs that may be deducted monthly lease fees are as follows:
a) Any improvement or fitness it is for the benefit of the”LESSOR”, to which must be authorized by the”LESSOR” any work inside the building, except those related to the placement of lamps and other property that are not attached to the property.
Arrangements bathrooms, kitchen and other rooms of the property leased, which by natural wear and regular use of the goods, need maintenance either plumbing, masonry and other. Before taking the job, he will report the damage to the “LESSOR” and proceed to repair.
If the damage is caused by gross negligence of the “LESSEE”, these are borne by the same, leaving the “LESSOR” entitled to inspect the property, if there is obvious negligence that has caused damage.
SIXTH: CLARIFICATION. – It makes clear that, in the established price of rentable canon, is not including the Value Added Tax (VAT), so that the “LESSEE” is empowered to make and proceed in accordance with the respective law , must the “LESSOR”, issue invoices for, and deliver the “LESSEE” against the monthly payment, which will be the only proof concerning the effectuation of payment.
SEVEN: If any, any difference between the rent established by this contract, and set in the Metropolitan District, the contracting parties expressly waive the claim make any difference, and any legal action by that concept.
EIGHTH : Jurisdiction and Venue. – The Parties undertake to fulfill in good faith the reciprocal obligations contracted under this Agreement, and make every effort required to overcome, by mutual agreement, any dispute. Any controversy or dispute arising from the application, validity, interpretation, invalidity or enforceability of this Agreement shall be resolved with the assistance of a mediator of Arbitration and Mediation Center of the Chamber of Commerce of Quito. In the event that the dispute is not resolved by this procedure regardless, the parties expressly submitting their disputes to the decision of a Court of Arbitration, which shall be subject to the provisions of the Arbitration and Mediation Act, the Rules of the Arbitration Center and Mediation Quito Chamber of Commerce, and the following standards:
a) An arbitrator shall be appointed by Mr. _________________, an arbitrator shall be appointed by the Company __________________ and the third by the two previously designated. If any of the parties shall appoint arbitrators, refuses or is unable for any reason to appoint the arbitrator shall be appointed by the Chamber of Commerce of Quito;
b) The parties waive the ordinary courts, to submit and comply with the arbitration, waiving any subsequent appeal;
c) For the implementation of precautionary measures the Arbitral Tribunal is empowered to seek assistance from public officials, judicial and administrative, without having to resort to an ordinary judge;
d) The Tribunal shall consist of three (3) arbitrators;
e) The arbitration will be conducted and resolved in Law;
f) The arbitration proceedings shall be confidential, and the party who violates the confidentiality requirement, must answer for the damages, which will be calculated and sent to pay for the Arbitral Tribunal and,
g) The place of arbitration shall be at the premises of Arbitration and Mediation Center of the Chamber of Commerce of Quito.
The parties agree the total content of the preceding clauses, and sign this contract in a single act and in triplicate, on the same date and certain city early this Contract.