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The Mortgage Lease Agreement is a specialized legal instrument used in the Philippines when a party wishes to both finance and lease a property in a single transaction. This arrangement is commonly used in commercial real estate, agricultural properties, and industrial developments where the occupant needs both financing and immediate usage rights. The document incorporates provisions from Philippine property law, banking regulations, and lease requirements, ensuring compliance with local legal frameworks including the Civil Code of the Philippines and relevant property legislation. It's particularly useful for businesses seeking to optimize their property financing while maintaining operational control, or for individuals requiring both property financing and immediate occupancy rights. The agreement typically includes detailed terms for both the mortgage and lease aspects, security provisions, payment schedules, property maintenance responsibilities, and default remedies.

1. Parties: Identification of the Mortgagor/Lessee and Mortgagee/Lessor, including complete legal names, addresses, and tax identification numbers

2. Background: Context of the agreement, including property details and purpose of the mortgage lease arrangement

3. Definitions: Key terms used throughout the agreement including Property, Mortgage Amount, Lease Period, Monthly Payments, etc.

4. Property Details: Comprehensive description of the mortgaged and leased property, including legal description, boundaries, and title information

5. Mortgage Terms: Details of the mortgage arrangement including principal amount, interest rate, payment terms, and security provisions

6. Lease Terms: Specific lease conditions including duration, rental amount, payment schedule, and permitted use of property

7. Rights and Obligations: Responsibilities of both parties regarding property maintenance, insurance, taxes, and utilities

8. Default and Remedies: Conditions constituting default under either mortgage or lease terms and corresponding remedies

9. Insurance and Taxes: Requirements for property insurance, payment of real estate taxes, and other related charges

10. Assignment and Subletting: Conditions under which the agreement may be assigned or the property sublet

11. Termination: Circumstances and procedures for terminating the agreement

12. Governing Law: Specification of Philippine law as governing law and jurisdiction

13. Execution: Signature blocks and notarization requirements