GUARANTEED LEASE Sample Clauses

GUARANTEED LEASE. The LESSOR hereby warrants to the LESSEE that the LESSEE shall have continuous and uninterrupted possession of the Leased Premises throughout the entire term of this Contract and any renewal thereof, if such renewal is agreed upon by the parties. The LESSOR also warrants to the LESSEE that the subject property has no existing lease in effect with any third party and that LESSOR has title over the same. LESSOR likewise warrants that the Leased Premises has no liens or encumbrance other than those that are annotated on the Transfer Certificate of Title covering the leased property, if there is any at the time of the execution of this Contract. The LESSOR shall comply with its legal obligation to protect the LESSEE’s peaceful control, occupancy, possession and use of the Leased Premises during the term of this Contract against all claims by any person or entity interposed on the Leased Premises. Further, the LESSOR shall defend the rights of the LESSEE or its successors-in-interest against any and all persons whomsoever. If the Leased Property is co-owned, pro-indiviso, by two or more owners, the LESSOR warrants that the representative of the co-owners was duly authorized to enter into this Contract and no controversy over the ownership or share of co-owners on the rentals between or among the co-owners. The LESSOR shall hold the LESSEE free and harmless from any liability arising from any controversy arising between or among the co-owners of the Leased Property. The LESSOR warrants that the Leased Property is free from any known defect that will render the purpose of which the LESSEE entered into this Contract impossible or unduly cumbersome. Further, in the event of any order, rule, regulation or other circumstances restricting or limiting the use of the Leased Property such as expropriation, road-widening, fortuitous events and the like, the LESSOR agrees that it will grant in favor of the LESSEE relief in the form of decrease in rentals, moratorium on lease payments, and other forms of assistance. Such relief shall continue only for the period during which the restriction or limitation affects the use of the Leased Premises. However, should such event render the fuel station permanently inoperative, the LESSEE may terminate the lease and the LESSOR shall return the security deposit including the unconsumed advance rental.