MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

TITO E. SALUDO, Filipino, of legal age, and a resident of Brgy. Laboon, Maaasin City,
Southern Leyte, herein referred to as the FIRST PARTY,

-and-

PEPITO G. GENERAN, Filipino, of legal age, and a resident of Brgy. Tam-is, Maasin City,
Southern Leyte, herein referred to as the SECOND PARTY,

WITNESSETH

1. That the FIRST PARTY is an owner of a tree plantation, located at Brgy. Upper Ichon,
Macrohon, Southern Leyte, and a grantee of a Certificate of Tree Plantation Ownership
No. 01-3126;

2. That the SECOND PARTY is the registered owner of one (1) unit chainsaw with serial
number 190329282;

3. That the FIRST PARTY shall hire, use and pay the chainsaw of the SECOND PARTY in
harvesting all their matured planted trees per board feet basis;

4. The SECOND PARTY is obliged to provide and make available his chainsaw machine and
his operator for the FIRST PARTY’S use;

5. That the parties hereof obligate to faithfully comply the terms and condition of this
agreement.

IN WITNESS WHEREOF, we have hereunto affix signature this 14t h day of March 2022, at
Maasin City, Southern Leyte, Philippines.

TITO E. SALUDO PEPITO G. GENERAN

First Party Second Party

Signed in the presence of:

1. ______________________ 2._______________________