LAND CONTRACT OF LEASE

This Contract of Lease made and entered into by:

nameof legal age, Filipino, single, and a resident of address, Philippines,

(hereinafter referred to as the "LESSOR");

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WITNESSETH That:
WHEREAS, the LESSOR is the owner of a certain parcel of land situated at
Tandag, Philippines, more particularly described as follows:

(Technical Description of Property)

WHEREAS, the Lessor desires to lease the afore-described property in
favor of the LESSEE and the LESSEE accepts the lease subject to the
terms and conditions herein set forth.

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

mutually agreed upon by the parties, the LESSOR hereby lease unto the
LESSEE, his heirs, successors and assigns, the above-described parcel of
land subject to the following terms and conditions, to wit:

1. That the term of this lease shall be for a period of 5 years two months
to commence upon the signing of this Contract and shall be renewable for
another 5 years and 2 months advance at the option of the LESSEE, and
thereafter renewable upon mutual agreement of the parties;

2. That the monthly rentals on the leased premises above-mentioned

shall be 100,000 , Philippine Currency for the first _____________

4. That the LESSOR shall pay the real property taxes levied of the leased
premises corresponding to the aforementioned parcel of land while the
LESSEE shall pay the real property taxes levied on the building and other
improvements that shall be introduced by the latter;

5. It is expressly agreed by the parties herein that any fixed

improvements or renovations that will be introduced in the subject stall
shall become the property of the LESSOR after the expiration of the term
of this Contract.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF: