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CONTRACT OF LEASE OF AGRICULTURAL LAND

This Contract of Lease made and entered into by and between:

DIGNA ENRERA-SALIH, of legal age, Filipino, widow, and a resident of Barangay Mayabon,
Zamboanguita, Negros Oriental, Philippines, hereinafter referred to as the "LESSOR",

- and -
KARIN G. ENRERA, of legal age, Filipino, married, and a resident of Barangay Mayabon,
Zamboanguita, Negros Oriental, Philippines, (hereinaft er referred to as the "LESSEE");

WITNESSETH

WHEREAS, the LESSOR is the absolute and registered owner in fee simple of a parcel of land
known as Lot No. 1251, PLS-847, situated in Sitio Batingawan, Barangay Mayabon,
Zamboanguita, Negros Oriental, Philippines;

WHEREAS, the LESSEE desires to lease the above-mentioned parcel of agricultural land with a
total plantable area of approximately five (5) hectares which shall be the basis for the
computation of the lease amount, 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 by
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:

PERIOD OF THE LEASE: This contract of lease shall be for a period of five (5) agricultural
sugar crop-years, to commence with sugar crop-year (C.Y.) 2016 up to and including sugar
crop year (C.Y.) 2021, provided further that the LESSEE shall harvest only five (5) times during
the term of this lease, otherwise the LESSEE shall pay rental pro rata based on the period and
hectarage without a need of court order.

RENTAL: The consideration of this lease contract shall be an annual lease rental of TWENTY
FIVE THOUSAND PESO (PhP 25, 000.00) or the amount is Five Thousand Pesos (PhP
5,000.00) per hectare. The total plantable hectarage is five (5) hectares only, more or less.

PAYMENT OF THE RENTAL: The sum of One Hundred Twenty Five Thousand Pesos
(P125,000.00) will be due after the last harvest in sugar crop year 2021.

TURN-OVER OF LEASED PROPERTY TO LESSEE: The LESSEE shall permit the LESSOR
or its authorized representatives to take gradual possession of the leased premises as the C.Y.
standing crops are being harvested by the LESSEE to enable the LESSOR to propagate and
cultivate the crops for C.Y. 2016. The LESSOR shall deliver full physical
possession of the leased premises to the LESSEE upon the termination of this contract and that
all ratoon crops found therein shall inure to the benefit of the LESSOR.

IMPROVEMENTS AND ALTERATIONS: The LESSEE may, with the written consent of the
LESSOR, build houses and other structures in the leased premises which however shall not
exceed four (4) units for use of the LESSEE's or his management team to include but not limited
to the encargado and staff;

The LESSEE is also authorized to alter the fields' divisions, roads, canals including its culverts
provided that such alteration will not result in the diminution of the plantable area;
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REAL PROPERTY TAXES: The real estate taxes over the leased premises which is due every
year to the Municipal Government of Zamboanguita, Negros Oriental shall be for the exclusive
account of the LESSEE while this lease is in effect;

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 preterminate 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;

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.

AGRICULTURAL PRODUCT. That the LESSEE shall devote the said parcel of land, subject
matter of this contract, to the cultivation of sugar cane 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.

MISCELLANEOUS. That in the event that any provisions of Rep. Act No. 6657, otherwise
known as the Comprehensive Agrarian Reform Law of 1988, shall cover or be implemented in
the leased premises or any portion thereof, the rental due shall be reduced in proportion to the
area actually being occupied by the LESSEE;

IN WITNESS WHEREOF, the parties have hereunto set their hands this January 17, 2019, at
Zamboanguita, Negros Oriental, Philippines.

DIGNA ENRERA-SALIH KARIN G. ENRERA

LESSOR LESSEE
ID No. ________________ ID No. ________________
Issued at: ______________ Issued at: ______________
Issued on:______________ Issued on:______________
Valid until: _____________ Valid until: _____________

SIGNED IN THE PRESENCE OF:

1. Mark Louie Enrera ___________________________

2. Ambrosio E. Enrera ___________________________

3. Anita P. Banua ______________________________

4. Samuel E. Salih ______________________________

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ACKNOWLEDGMENT
Republic of the Philippines)
Province of Negros Oriental) S.S.

BEFORE ME, this, in the municipality of Zamboanguita, Negros Oriental,

Philippines, personally appeared the PARTIES who have satisfactorily proven to
me their identities through their ID Numbers mentioned above, both known to
me to be the same persons who executed the foregoing instrument signed and
acknowledged to me that the same are their free act and voluntary deed.

The foregoing instrument relates to a CONTRACT OF LEASE OF

AGRIOCULTURAL LAND, consisting of three (3) pages including the page
whereon this acknowledgment is written, signed by the parties together with
their instrumental witnesses on each and every page hereof, and sealed with
my notarial seal.

WITNESS MY HAND AND SEAL this _____________________________, at

Zamboanguita, Negros Oriental, Philippines.

Doc. No. ___________;

Page No. ___________;
Book No. ___________;
Series of 2019.