The First Amendment To Lease is a crucial document used when parties need to modify an existing lease agreement in the Philippines without creating an entirely new lease. This document is typically employed when circumstances require changes to specific terms such as rental rates, lease duration, property use, or other contractual obligations, while keeping the remaining original lease terms intact. It must comply with Philippine civil law, particularly the Civil Code of the Philippines and relevant property regulations. The amendment should clearly reference the original lease agreement, specify the exact modifications being made, and include proper execution requirements including notarization as per Philippine law. This document is particularly important in commercial and residential leasing contexts, providing a formal and legally compliant way to update lease terms while maintaining the continuity of the original agreement.
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1. Parties: Identification of all parties to the amendment, including the original lessor and lessee
2. Background: Reference to the original lease agreement, including its date and key details, and the reason for this amendment
3. Definitions: Key terms used in the amendment, including reference to definitions from the original lease that remain applicable
4. Amendment Details: Specific modifications being made to the original lease, clearly stating both the original and new provisions
5. Effective Date: When the amendment takes effect and its duration
6. Confirmation of Other Terms: Statement that all other terms of the original lease remain in full force and effect
7. Governing Law: Confirmation that Philippine law governs the amendment
8. Execution: Signature blocks for all parties and notary requirements
1. Rent Adjustment: Used when the amendment involves changes to rental amounts or payment terms
2. Term Extension: Used when modifying the duration of the lease
3. Property Modifications: Used when changes to the leased premises or allowed modifications are involved
4. Additional Parties: Used when new parties are being added to the lease agreement
5. Security Deposit Adjustment: Used when modifying security deposit requirements
6. Use Clause Modification: Used when changing the permitted uses of the property
7. Insurance Requirements: Used when modifying insurance obligations
1. Schedule A - Modified Lease Terms: Detailed listing of all specific terms being modified, showing both original and new language
2. Schedule B - Updated Property Description: If the amendment involves changes to the leased premises, detailed description of the modified space
3. Schedule C - Revised Payment Terms: Detailed breakdown of new payment terms if rent or other financial terms are being modified
4. Appendix 1 - Required Governmental Approvals: Copies of any required governmental or regulatory approvals for the modifications
5. Appendix 2 - Supporting Documentation: Any additional documentation supporting the amendments, such as floor plans or photographs
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Retail
Commercial Office
Industrial
Hospitality
Healthcare
Education
Manufacturing
Logistics
Food and Beverage
Banking and Financial Services
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Property Management
Asset Management
Administration
Risk Management
Relevant Roles
Property Manager
Real Estate Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Operations Director
Chief Financial Officer
Asset Manager
Leasing Manager
Contract Administrator
Real Estate Director
Compliance Officer
Property Administrator
Building Manager
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