RENTAL AGREEMENT or TENANCY AGREEMENT

 

This agreement is executed in Coco Solo (Panama) on 15-10-2016

 

 

BY AND BETWEEN

 

Of the first part,

 

Mr. Massa Makan Diabaté, of legal age, of Panamanian nationality domicilied in Calle 69 1140 Coco Solo (Panama) and with passport number 456456454.

 

And the other part,

 

Mr. Michael Reuters, of legal age, of Canadian nationality domicilied in 5, Melgrove Road TN4 UI8 Tent (U.S.A.) and with passport number 4554555.

 

AGREEING

 

FIRST.

 

Mr.Michael Reuters, the landlord, is the owner of the following property which is the subject of the following rental agrement: Calle Fungachil,34 54566 Coco Solo (Panama). The house is rented fully furnished and in good repair.

 

SECOND

 

Mr. Massa Makan Diabaté, the tenant, is interested in renting the property for a period of eleven months from the 1st April 2019 until the 28th February 2020. For such purposes both parties agree on signing the contract under the following

 

STIPULATIONS

 

FIRST

 

The rental agreement is drawn up for a period of eleven months from the 1st April 2019 until the 28th February 2020 which both parties agree to accept.

 

SECOND

 

Tenant´s usual address is as mentioned above in this contract and for that reason the tenant says that it is his aim to rent the above property just for holiday reasons and that he will not use it as his main residence.

THIRD

The rent to be paid by the tenant is the amount of 1250€ (one thousand two hundred and fifty euros) per month. This amount will be paid within the 1st, 2nd or 3rd day of each month to the bank Banco del Istmo bank account of the landlord into the following account 454655 45465 45546. If payment is delayed by more than Si el pago se retrasa por más de 30 days then the contract will be cancelled forthwith. A deposit for the amount of 2000€ (two thousand euros) is to be given on signing this contract.

FOURTH

Water and electricity bills are to be paid by the tenant. Community charges are to be paid by the landlord.

FIFTH

The tenant confirms that the property has been checked and that it is an acceptable condition to be occupied. The tenant agrees to take care of the property so that it will be returned in the same condition as it was when the contract started. The landlord agrees to carry out any necessary repairs. The tenant shall be held responsible for any damages caused in the property by himself or by any of the visitors.

 

SIXTH

 

The landlord expressly forbids the tenant to transmit their rights hereon to a third party. The tenant renounces expressively the use of articles 31,32 and 33 of the Ley de Arrendamientos Urbanos and therefore the rights of renting, subrogation and cession, total or partially, and also the rights of redemption and pre-redemption. The tenants will not be able to carry out in the rented property any work or modifications of any kind without the prior written consent of the landlord.

 

SEVENTH

This contract will be automatically canceled without any notification required on the date mentioned above as the ending date. At that date the tenant will return the keys.

EIGHTH

This contract has been written in English, French, Polish, German and Spanish however just the Spanish version will be legally binding.The contracting parties expressly waive their jurisdiction of domicile to which they may be entitled to and undertake to accept and abide with the Jurisdiction of the Court and Tribunals of Coco Solo and those of a higher authority as far as the same relates to differences that may arise regarding the meaning, effect or rescission of this contract.

NINTH

Once a month the landlord reserves the right to visit the property on his own or by others that the tenant agrees with.

In proof of conformity of both of the contracting parties with the preceding terms of this contract, they hereby sign this document in the place and date indicated in the initial heading and all pages and every copy.

 

 

 

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