CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Digos,

Province of Davao Del Sur, Philippines.

We, DANILO COLLADO, of legal age, married, Filipino and with

residence of and postal address at Barangay Poblacion, Malungon, Sarangani,
hereinafter referred to as the LESSORS;
And
DIONESIO SANAMA, of legal age, married, Filipino citizen, married and
with residence and postal address at Sitio Ariston, Barangay Poblacion,
Malungon, Sarangani, Province, Philippines; hereinafter referred to as the
LESSEE;

WITNESSETH; That

WHEREAS, the LESSORS are the registered owners and lawful possessor
of parcels of land covered by OCT No. (P-32520) P-11695, situated at Poblacion,
Malungon, Sarangani Province shall be leased to the Lessee;

WHEREAS, the LESSOR desires to lease a portion of said parcel of lands

consisting an aggregate area of 4.5 hectares to the LESSEE and the LESSEE is
willing to lease the same;

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

the LESSOR leases unto the LESSEE and the LESSEE hereby accepts from the
LESSOR the LEASED premises, subject to the following:

1. PURPOSES: That premises hereby leased shall be used exclusively by

the LESSEE For planting and harvesting of Corn/Mais only and shall not be
diverted to other uses without the prior written consent of the LESSOR. It is
hereby expressly agreed that if at any time the premises are used for other
purposes without the consent of the LESSOR, the LESSOR shall have the right to
rescind this contract without prejudice to its other rights under the law. The
area to be leased and occupied by the LESSEE shall be fenced by the LESSOR
as soon as possible.

2. TERM: This term of lease is for ONE (1) YEAR, from November 15,
2018 to November 14, 2019 inclusive. Upon its expiration, this lease may be
renewed under such terms and conditions at the option of the parties 30 days
before the expiration of the lease.

3. RENTAL RATE: The rental rate for the leased premises is by

cropping/harvest which shall be in PESOS: Php5,000.00, Philippine Currency
per successful cropping.

4. DEFAULT PAYMENT: In case of default by the LESSEE in the payment,

the LESSOR at its option may terminate this contract and eject the LESSEE. The
LESSOR has the right to padlock the premises when the LESSEE is in default of
payment for One (1) quarter and may forfeit whatever rental deposit or
advances have been given by the LESSEE.

5. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow or

permit the leased premises to be occupied in whole or in part by any person,
form or corporation, neither shall the LESSEE assign its rights hereunder to any
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other person or entity and no right of interest thereto or therein shall be
conferred on or vested in anyone by the LESSEE without the LESSOR'S written
approval.

6. IMPROVEMENTS and ALTERATIONS: The LESSEE is not allowed to

make any permanent improvements and/or plant other fruit bearing trees.

13. BREACH OF CONDITIONS: In case of breach by the LESSEE of any of

the conditions and covenants of this lease as herein stipulated, the LESSOR at
its option, may forthwith terminate and cancel this lease and the LESSEE shall
be liable for any and all damages as a result of such default, breach and
termination.

14. EXPIRATION OR CANCELLATION OF LEASE: At the expiration of

the term of this lease or cancellation thereof, as herein provided, the
LESSEE/BUYER will promptly deliver to the LESSOR/SELLER the leased premises
in as good condition as the SAME IS NOW.

15. NON-WAIVER OF LESSOR’S RIGHT: Failure of the LESSOR to

enforce strict performance by the LESSEE of any of the terms, conditions and
covenants of this agreement shall not be construed as waiver of any right or
remedy that the LESSOR may have, nor shall it be deemed as a waiver of any
subsequent breach of the terms, conditions, and covenants contained therein.
No waiver by the LESSOR of its rights hereunder shall be deemed to have been
made unless expressed in writing and signed by the LESSOR.

16. In case of sale of the leased property to any interested buyers, the
Lessor shall give notice to the lessee Fifteen (15) days before the intended sale.
When the property will be sold, this said contract of Lease shall be
automatically terminated. However, in case there are still crops (corn) in said
leased premises, the Lessee shall be refunded of his actual cost of
production/planting of said crops.

The Lessee shall undertake and promise to immediately leave the

premises and surrender possession of said parcel of land to the lessors and
waive all his/her rights over the use of such parcel of land upon after harvesting
the last cropping stipulated in this contract.

17. Both parties have executed this Agreement by their own voluntary act
and deed and in their mutually agreed terms. Both parties shall comply with the
terms and conditions of this contract in good faith and warrant further, that
they did so with the full understanding of its nature and its consequences.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this ____ day of ____________ in the City of Digos, Province of Davao Del Sur,
Republic of the Philippines.

DANILO COLLADO
Lessor DIONESIO SANAMA
I.D. No. ___________________ Lessee
I.D. No. ___________________

Signed in the presence of: 1. ______________________ 2. ______________________

ACKNOWLEDGMENT
Republic of the Philippines
Province of Davao Del Sur )
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City of Digos )s.s
x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x

BEFORE ME, a Notary Public, on this this ____ day of _______, ______ in the City of
Digos, Province of Davao Del Sur, Republic of the Philippines, personally appeared the
above named parties exhibiting his/her competent evidence of personal identity, known to
me and to me known to be the same persons who executed the foregoing instrument,
whereon acknowledgment is written, signed by the parties and witnesses and they
acknowledged that the same is his/her free act and voluntary deed.

Doc. No.
Page No.
Book No.
Series of 2018

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