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Broadway Centrum Condominium Corporation Vs. Tropical Hut Food Market, Inc., Et Al.

BROADWAY CENTRUM CONDOMINIUM CORPORATION, petitioner, vs. TROPICAL HUT FOOD MARKET, INC. and THE HONORABLE COURT OF APPEALS, respondents.

G.R. No. 79642 | 1993-07-05

D E C I S I O N


FELICIANO, J.:

Petitioner Broadway Centrum Condominium Corporation ("Broadway") and private respondent Tropical Hut Food Market, Inc. ("Tropical") executed on 28 November 1980 a contract of lease. Broadway, as lessor, agreed to lease a 3,042.19 square meter portion of the Broadway Centrum Commercial Complex for a period of ten (10) years, commencing from 1 February 1981 and expiring on 1 February 1991, "renewable for a like period upon the mutual agreement of both parties." The rental provision of this contract read as follows:

"3. BASIC RENTAL ON LEASED PREMISES -- LESSEE agrees to pay LESSOR a basic monthly rental on...