MONTHLY RENT: The rent to be paid by Lessee to Lessor throughout the term of this Agreement

is Twenty Thousand Philippine Peso (PhP20,000.00) per month in the form of a check and shall be due on the 5th day of each month, which check shall be issued monthly for sixty (60) months.

Lessee shall pay a late fee at the rate of four per centum (4%) of the rent not received by Lessor for every month of delay. Lessee shall pay additional five per centum (5%) of the rent for any returned check fees, exclusive of bank charges. All delinquent rents or other expenses due from

Lessee shall accrue interest at the monthly rate of four per centum (4%) until paid. All interest shall be deemed additional rents. Rent for the first month (or, if applicable, partial month) of the term shall be paid to Lessor at the time this Agreement is executed. Rent for any partial month shall be prorated. Lessee shall not deduct or offset against rent unless expressly permitted by applicable law.

Is there any wrong on the contract agreement?