API – Agrarian Reform Beneficiaries Multi-purpose Cooperative

Manat, Trento, Agusan del Sur

CDA Reg. No. 9520-13010132
CIN: 0103130283
TIN: 004-381-343-000

August 29, 2019

Mr. Rosalio M. Khan

Agusan Plantations Inc. Group of Companies
Manat, Trento, Agusan del Sur

Thru:
Engr. Eduardo Marquez
Mill Manager
Agumil Philippines
Manat, Trento, Agusan del Sur

Mr. Alvin G. Defeo

Manager
Agusan Plantations Inc.
Manat, Trento, Agusan del Sur

Sirs:

Greetings!

Despite our previous reminders through the resolution sent to your office, we
still have not received any payment or answer from you for your outstanding
obligation to us arising from the Memorandum of Agreement that you signed
with us here in attached as “Annex A”.

Therefore, we regret to inform you that if we do not obtain the payment of Two
Million Seven Hundred Eighteen Thousand Eight Hundred Fifty-Nine Pesos
and Eighty-Two Cents (P 2, 718, 859. 82) in full which pertains to your rental
payment for the year 2019 amounting to Four Hundred Fifty Thousand Eight
Hundred Seventy Eight Pesos and Forty One Cents (P 450,878.41) and to
the First Fruit Bunches payment from December 2018 to June 2019 amounting
to Two Million Two Hundred Sixty Seven thousand Nine Hundred Eighty
One Pesos and Forty One cents (P 2, 267, 981.41) on or before September
6, 2019 (Friday), we will have no other alternatives but to undertake court
actions against you in order to retrieve the debt amount for our cooperative
Agusan Plantations Incorporated-ARB-MPC (API-ARB-MPC). We would also
collect the amount of interest as agreed upon in the Memorandum of Agreement
which is indicated in the summary of your outstanding obligation.

The previously mentioned summary and full breakdown of your outstanding

obligation is hereby attached in this demand letter as “Annex B”.
Should your payment not be received in full within the next seven days starting
from August 30, 2019 to September 6, 2019, immediate court actions will take
place.

We would advise treating this matter with urgency and we believe you will not
ignore this final reminder. To save yourself the inconvenience of court actions,
we kindly suggest settling the total amount of obligation and interests as soon
as possible.

We still trust court actions will not be necessary and look forward to receiving
payment by return.

Yours faithfully,

Mr. Erpie S. Mancawan

Chairman
API-ARB-MPC

Prepared by:

Atty. Sarah Joy V. Luzon

Roll. No. 73867
IBP O.R. No. 087459/5-23-19/Manila
PTR No. 8315975/7-15-19/Agusan del Sur