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1. Parties: Identifies and defines the Lessor/Option Grantor and Lessee/Option Holder with complete legal names and addresses
2. Background: Establishes the context of the agreement, including property ownership and parties' intentions regarding lease and purchase option
3. Definitions: Defines key terms used throughout the agreement including Property, Option Period, Option Price, and Lease Term
4. Property Description: Detailed description of the leased property including exact location, boundaries, and included fixtures/fittings
5. Lease Terms: Specifies rent amount, payment terms, duration, utilities, maintenance responsibilities, and other standard lease provisions
6. Option Terms: Details of the purchase option including option price, option period, exercise procedure, and consideration paid for the option
7. Exercise of Option: Procedure for exercising the option, including notice requirements and completion timeframe
8. Purchase Price and Payment: Specifies the agreed purchase price if option is exercised and how payments will be structured
9. Representations and Warranties: Legal statements by both parties regarding their authority, property condition, and other material facts
10. Default and Remedies: Consequences of default under either the lease or option terms and available remedies
11. General Provisions: Standard contract clauses including governing law, notices, amendments, and severability
12. Execution: Signature blocks and notarization requirements as per Philippine law
1. Property Management: Include when specific property management arrangements are needed, especially for commercial properties
2. Assignment and Subletting: Include when parties want to specifically address the ability to transfer rights under the agreement
3. Insurance Requirements: Include when specific insurance coverage requirements need to be detailed
4. Environmental Matters: Include for commercial properties or when environmental concerns need to be addressed
5. Broker Provisions: Include when real estate brokers are involved in the transaction
6. Option Extension Terms: Include when parties want to allow for possible extension of the option period
7. Financing Contingencies: Include when the option exercise is contingent on the lessee obtaining financing
1. Schedule A - Property Description: Detailed technical description of the property including lot number, boundaries, and technical specifications
2. Schedule B - Property Plan/Floor Plan: Physical layout and plans of the property
3. Schedule C - Inventory of Fixtures and Fittings: Detailed list of items included in the lease and potential sale
4. Schedule D - Option Exercise Form: Template form for exercising the purchase option
5. Schedule E - Rent Payment Schedule: Detailed breakdown of rent payments and due dates
6. Schedule F - Property Condition Report: Documentation of property condition at lease commencement
7. Appendix 1 - Required Documents: List of documents required for option exercise and property transfer
8. Appendix 2 - Property Title Documents: Copies of relevant property ownership documents
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