CONTRACT OF LEASE OF AGRICULTURAL LAND

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE OF AGRICULTURAL LAND made and entered

into by and between: _________________________, of legal age, Filipino, (single /
married / widow), and a resident of _________________________, Philippines,
(hereinafter referred to as the "LESSOR"),
- and -

_________________________, of legal age, Filipino, (single / married / widow), and

a resident _________________________Philippines, (hereinafter referred to as the
"LESSEE");

WITNESSETH

WHEREAS, the LESSOR is the absolute and registered owner in fee simple of a
parcel of land, situated in the _________________________, Philippines, and more
particularly described as follows:

(Technical Description of Property)

WHEREAS, the LESSEE desires to LEASE the above-mentioned

parcel of agricultural land with a total plantable area of approximately
__________________________ (_________) hectares which shall be the basis for the
computation of the rentals, under the terms and conditions hereinafter
provided.

NOW, THEREFORE, for and in consideration of the terms and conditions

mutually agreed upon by the parties, the LESSOR, his heirs, successors and
assigns, hereby convey of way of lease unto the LESSEE, his heirs, successors
and assigns, the above-described parcel of land, including the improvements
found and existing thereon, subject to the following terms, conditions and
stipulations, to wit:

TERMS AND CONDITIONS

WHEREAS, PERIOD OF THE CONTRACT: This contract of LEASE of

agricultural land shall be for a period of _____________ (______) agricultural
crop-years, to commence with crop-year (C.Y.) _____________ up to and
including crop year (C.Y.) _____________, provided further that the LESSEE
shall harvest only _____________ times during the term of this lease,
HOWEVER, the LESSEE shall have the right to harvest the crops after the
expiration of the period above-mentioned, PROVIDED, that the LESSEE has
planted the crops within the said agricultural years.

WHEREAS, PAYMENT FOR THE LEASE OF THE LAND: The

sum of __________________________ ($_____________) will be due upon the
signing of the contract.

WHEREAS, TURN-OVER OF LEASED PROPERTY TO LESSOR: The LESSEE

shall deliver full physical possession of the leased premises to the LESSOR
upon the termination of this contract. Provided, that the consideration or
payment for the LEASE of the agricultural land shall be turned over to the
LESSEE in full upon the termination of the contract. Provided, further, that in
case the LESSOR wants to pre-terminate the contract in any crop year, he shall
furnish the consideration in full amount, in the currency stipulated, to the
LESSEE. Provided, finally, that in case there was a pre-termination of the
contract, the LESSOR shall be obliged to pay the LESSEE 10% of the
consideration as damages.

WHEREAS, LESSE’S RIGHT OF FIRST REFUSAL: In case the LESSOR

decides to sell the landholding, the LESSEE shall have the preferential right to
buy the same under reasonable terms and conditions: Provided, The right of
pre-emption under this Section may be exercised within ninety days from
notice in writing which shall be served by the owner on interested prospective
buyers affected.

WHEREAS, LESSEE’S RIGHT OF REDEMPTION - In case the landholding is

sold to a third person without the knowledge of the agricultural LESSEE, the
latter shall have the right to redeem the same at a reasonable price and
consideration: Provided, That the entire landholding sold must be redeemed.
The right of redemption under this Section may be exercised within two years
from the registration of the sale, and shall have priority over any other right of
legal redemption.

WHEREAS, REAL ESTATE TAXES, ETC.: The real estate taxes and other land
assessments over the leased premises shall be for the exclusive account of the
LESSOR while this lease is in effect;

WHEREAS, TERMINATION DUE TO FORCE MAJEURE, ETC.:

This contract was entered into by the parties in good faith and under the
assumption that no event or circumstances will obtain that will make it
extremely difficult or impossible for the LESSEE to continue planting and
cultivating the leased premises as intended under this contract, therefore, in
the event that the LESSEE feels that his life is in danger, and/or that the peace
and order situation in the locality or region where the aforesaid parcel of land
is found or situated deteriorates to such an extent that it would no longer be
either feasible or possible to still plant or cultivate sugarcane over the leased
premises, or where the prices of sugar make the operation of the farm no
longer profitable, then the herein parties are agreed that the LESSEE may pre-
terminate this lease by giving the LESSOR at least THREE (3) months prior
notice. Provided that the LESSEE may still harvest his standing sugarcane
crops and the LESSOR is paid the pertinent rentals due thereon;

WHEREAS, WARRANTY, RIGHT OF WAY.: The LESSOR hereby agree, by

these presents that she shall provide and guaranty the necessary right-of-way
to the benefit of the LESSEE, including use and access to common roads and
other hacienda facilities and that the LESSOR further warrants the peaceful
possession and occupation of the LESSEE over said parcels of lands or from
eviction thereof.

WHEREAS, AGRICULTURAL PRODUCT.: That the LESSEE shall devote the

said parcel of land, subject matter of this contract, to the cultivation of palay or
such other agricultural products he may deem suitable and financially viable
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.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
_____________ at _____________, Philippines.

(Name of LESSOR) (Name of LESSEE)

LESSOR LESSEE

Signed in the presence of:

_____________________________ ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

 (Name of LESSOR) 10000000 February 24, 20__ /
Cavite City
(Name of LESSEE) 10000000 January 07, 20__ /
Makati

Known to me and to me known to be the same persons who executed the

foregoing instrument and acknowledged to me that the same is their free and
voluntary act and deed.

This instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof
by the concerned parties and their witnesses, and and sealed with my notarial
seal.

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

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.