CONTRACT OF LEASE

This contract of Lease dated ________________ (the “Contract”) by and between:

EVANGELINE G. CURATO, Filipino, of legal age, and a resident of P-1,

Poblacion, Barobo, Surigao del Sur, Philippines, hereinafter referred to as the “ LESSOR”;

-and-

DOLE PHILIPPINES, INC. – STANFILCO DIVISION, a corporation duly

organized and existing under the laws of the Republic of the Philippines, with office address
at Dona Socorro Street, Stanfilco Compound, BHHI, Lanang, Davao City and Guinhalinan,
Barobo, Surigao del Sur, Philippines, represented by its Surigao Zone Manager, RUEL L..
OTADOY and its Corporate Finance Director, TEODORO C. SANTOS, hereinafter
referred to as the “LESSE”.

WITNESSETH: That

The Lessor is the owner of a residential building, situated at Purok -1, Poblacion,
Barobo, Surigao del Sur ;

The Lessor hereby leases above-described building unto the Lessee, and the latter
hereby accepts it from the former, according to the terms and conditions, hereunto set forth to
wit:

1. That this contract shall be for a period of ten (10) years, starting April 8, 2015 to
April 8, 2025, with a monthly rental of Eight Thousand (Php 8,000.00) Pesos
per month, which monthly rental payment shall start on April 8, 2018, payable
yearly ;

2. That upon execution of this contract, the Lessee shall give to the Lessor the sum
of Two Hundred Eighty Eight Thousand (Php 288,000.00) Pesos, representing
three (3) year advance payment ;

3. That the monthly rental payments shall increase every year, with a rate of ten
(10%) percent per year, starting April 8, 2018 ;

4. The Lessee is prohibited to directly and indirectly sublease, assign, transfer,

convey, mortgage or in any way encumber his right or lease over the lease
premises or any portion thereof ;

5. The Lessee shall comply with all the sanitary rules and regulations which may
promulgated from time to time by the Lessor and shall keep and maintain the
leased premises in clean and sanitary condition making all the ordinary repairs at
his own expense ;

6. The Lessee shall have no right to modify any existing improvements or structures
in the premises without the prior consent of the Lessor. Upon the termination of
this contract of lease, all ordinary repairs and improvements undertaken by the
Lessee shall become the property of the Lessor without any obligation on the part
of the Lessor to pay or reimburse the Lessee of its expense ;

7. The leased premises shall be used exclusively as staff of its employees of the
Lessee and shall not be used for any other purpose without the prior written
consent of the Lessor ;
 8. Bills of light, water and other utility charges shall be for the account of the Lessee
;

9. Violation of any of the foregoing terms and conditions shall ipso facto produced
the rescission of this contract of lease ;

10. Lastly, this contract supersedes all existing contract between the parties involving
the same property, particularly the Contract of Lease dated March 16, 2012, per
Doc. No. 424, Page No. 85, Book No. XXXI, Series of 2012, by Notary Public,
Atty. Limuel L. Auza.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be

executed as of the day and year first written above at San Francisco, Agusan del Sur,
Philippines.

EVANGELINE G. CURATO
Lessor

DOLE PHILIPPINES, INC. – STANFILCO DIVISION

Lessee

Represented by:

RUEL L. OTADOY TEODORO C. SANTOS

Zone Manager Corporate Finance Director

Signed in the presence of:

___________________________ ___________________________
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF AGUSAN DEL SUR ) SS
MUNICIPALITY OF SAN FRANCISCO )

ACKNOWLEDGMENT

BEFORE ME, this ________________ at San Francisco, Agusan del Sur, personally
appeared the above-named persons presented to me to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same are their free act and deed.

WITNESS MY HAND AND SEAL, the day, year, and place above-mentioned.

Doc. No.
Page No.
Book No.
Series of 2015