CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract of lease is made and executed this 23 rd day of June 2014
between:

ANGELO MIGUEL C. LOPEZ, of legal age, Filipino, single, and with

address at Apricot cor. Dates St, Greenwoods Village, Cainta, Rizal,
hereinafter referred to as the LESSOR,

-and-

RALPH AGBISIT, of legal age, Filipino, single, and with address at Blk 24
Lot 34 Carnation St. Capitol Park Homes II, Novaliches, Quezon City,
hereinafter referred to as the LESSEE.

WITNESSETH:

WHEREAS, the LESSOR is the registered owner of a 5-hectare Agricultural

land located at Sta Cruz, Rosario, Batangas.

WHEREAS, the LESSEE desires to lease from the LESSOR and the LESSOR
agree to lease unto the LESSEE the whole of the lot to be used for planting
and harvesting bananas.

NOW, THEREFORE, for and in consideration of the foregoing premises,

covenants and stipulations set forth hereunder, the LESSOR hereby lease
and the LESSEE hereby accepts to lease the same in accordance with the
following terms and conditions:

1. CULTIVATION – The LESSEE shall work on the land in a manner and

method of cultivation and harvest which will conform to proven farm
practices. He shall cultivate and take care of the farm, the banana plants,
and other improvements on the landholding as a good father to a family.

2. AGRICULTURAL PRODUCT - That the LESSEE shall devote the said

parcel of land, subject matter of this contract, to the cultivation of
Banana and shall be free to introduce therein whatever improvements he
may deem proper and convenient, provided that upon the termination of
 this contract, all improvements introduced therein by the LESSEE shall
remain and will inure to the benefit of the LESSOR.

3. RENTAL – The rentals to be paid by the LESSEE should be equivalent to

twenty per centum of the average normal harvest during the three years
immediately preceding the date of this contract deducting the amount
used for planting and harvesting. The rentals shall be paid two weeks
after the harvest is sold, with LESSEE notifying the LESSOR that he will
harvest, three days before the date of harvesting.

4. UTILITIES – During the term of his lease or any extension thereof, the
LESSEE shall pay for any cost of utilities used by the LESSEE such as
electricity, water, telephone and other similar expenses to the respective
utility companies as when they fall due and before delinquency. All
telephones bills during the duration of this lease shall be for the account
of the LESSEE.

5. PRESERVATION – the preservation of the land necessary to put it in

good condition or working order shall be borne by the LESSEE. All
damages or repairs to the property caused by the natural wear and tear,
fault, misuse, carelessness or negligence of the LESSEE or his family shall
be made good and repaired by the LESSEE. All repairs due to fortuitous
events or the natural acts of GOD shall be borne by the LESSOR.

6. USE OF THE LAND – The land leased shall be used exclusively by the
LESSEE as a Farmland for Banana Plants. The Leased Premise shall not
be devoted for immoral use such other purpose that what is provided
above.

7. TAX AND INSURANCE – Realty taxes, Income Taxes, community dues

and required insurances on the Leased Premises shall be the
responsibility of and for the account of the LESSOR. Insurance for any
and all contents brought in or provided by the LESSEE shall be the
LESSEE’ s own responsibility and account.

8. TERMINATION OF LEASE - The LESSEE in terminating the lease, shall

voluntarily return and surrender possession of the Leased Premises in as
good condition as when it occupied, reasonable wear and tear excepted
without delay whatsoever, devoid of all occupants, personal articles or
effects of any kind and with written notice served to the LESSOR three
(3) months in advanced.
9. SUBLEASE AND ASSIGMENT – The LESSEE shall not sublease or allow
the Leased Premises to be occupied or used in whole or in part by any
other party without the written consent of the LESSOR.

10.LESSEE’S RIGHT OF PRE-EMPTION – In the event of the LESSOR

decides to sell, the lessee shall have the preferential right to buy the
same.

11.SALE OF LAND – In the event of sale, transfer or mortgage of the

Leased Land, the LESSOR shall inform the LESSEE one (1) week before
the said sale, transfer or mortgage take place. The LESSOR shall then
advice the purchaser or mortgagee that all the terms and conditions of
this Contract of Lease shall be honored, and that the same shall be made
of the LESSOR’s agreement with the purchaser or mortgagee.

12.BREACH AND DEFAULT – The LESSEE and LESSOR agree that all
terms and agreements herein contained shall be deemed conditions as
well as covenants, any breach or default of any of the terms and
conditions of this Contract shall be sufficient grounds for the aggrieved
party to seek such damages as may be provided by law.

In the event the LESSEE vacates or abandons the premises at any time
during the lease period, or the absence of the persons under Section
Nine of R.A. 3844, to succeed the lessee, in the event of death or
permanent incapacity, the leasehold contract shall be considered
extinguished.

13. AMENDMENTS - This contract constitutes the entire agreement

between the two parties thereto and shall not be deemed amended or
altered in any manner unless such amendment or alteration is done in
writing and signed by the LESSOR and the LESSEE.

In WITNESS WHEREOF, the parties hereto have hereunto affixed

their respective signatures together with their instrumental witnesses this
23rd day of June, 2014 at Manila, Philippines

____________________ __________________
Angelo Miguel C. Lopez Ralph Agbisit
Lessor Lessee

SIGNED IN THE PRESENCE OF:

 __________________ ___________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF Manila ) S.S

BEFORE ME, a Notary Public for and in _____________________

Philippines , on this _________________, 2014, personally appeared the
following, with their respective Community Tax Certificate nos. / Passport
nos/. to wit :

NAME CTC NO. PASSPORT NO. DATE/ PLACE OF ISSUE

Angelo Miguel C. Lopez _____________ _____________

Ralph Agbisit ____________ ____________

All known to me the same persons who executed the foregoing

instrument and they acknowledged to me the same is their free and
voluntary act and deed, and that of the entity represented, consisting of
_____ ( ____) pages including the pages wherein this acknowledgement is
written, signed by the parties and their instrument witnesses on every page
hereof.

WITNESS MY HAND AND NOTARIAL SEAL, on the date and place first
above written.

NOTARY PUBLIC

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