(Contract of Lease of Hacienda)

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

_____________, of legal age, Filipino, (single / married / widow), and a resident

of _____________, Philippines, (hereinafter referred to as the "LESSOR"),

- and -

_____________, of legal age, Filipino, (single / married / widow), and a resident

of _____________, Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH

WHEREAS, the LESSOR is the absolute and registered owner in fee simple of a parcel
of land, situated in the _____________, Philippines, and more particularly described as follows:

(Technical Description of Property)

WHEREAS, the LESSEE desires to lease the above-mentioned parcel of agricultural

land with a total plantable area of approximately __________________________ (_________)
hectares which shall be the basis for the computation of the rentals, 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 of
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:

1. PERIOD OF THE LEASE: This contract of lease shall be for a period of

_____________ (______) agricultural sugar crop-years, to commence with sugar crop-
year (C.Y.) _____________ up to and including sugar crop year (C.Y.) _____________,
provided further that the LESSEE shall harvest only _____________ 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.

2. RENTAL: The consideration of this lease contract shall be an annual lease rental of
_____________ (_____) "LKG" per hectare computed on the basis of actual hectarage
planted to sugarcanes or the amount is __________________________
 (P_____________) per hectare. The total hectarage is _____________ therefore the total
yearly rental is __________________________ (P_____________). The sum of
__________________________ (P_____________) will be the total rental for this
contract.

3. PAYMENT OF THE RENTAL: The sum of __________________________

(P_____________) will be due upon the signing of the contract.

4. 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. _____________. 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.

5. 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 and if the LESSEE so desires,
structures for a small poultry, piggery or the like;

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;

6. RIGHT OF INSPECTION: Since the LESSOR will be operating a pumping station for
the water needs of her other farms, parties agree that the LESSOR or her duly authorized
representative shall have free access at all times to the leased premises for the sole
purpose of operating said pumping station and the water-ways traversing through the
leased premises;

7. REAL ESTATE TAXES, ETC.: The real estate taxes and other land assessments over
the leased premises shall be for the exclusive account of the LESSOR while this lease is
in effect;

8. 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;

9. 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.

10. 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.

11. 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
_____________ at _____________, Philippines.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________ __________________

(Acknowledgment by Individuals - Two-Party Instrument)

REPUBLIC OF THE PHILIPPINES)

CITY/MUNICIPALITY OF ______) SS.
x-----------------------------------------x
 ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the (Province/City/Municipality) of

_____________, personally appeared _____________ with Community Tax Certificate No.
_____________ issued on _____________ at _____________, and _____________ with
Community Tax Certificate No. _____________ issued on _____________ at _____________,
both personally known to me (or whom I have identified through competent evidence of identity)
and who represented to me that their respective signatures on the foregoing instrument were
voluntarily affixed by them for the purposes stated in the instrument and who declared that they
have executed the foregoing instrument as their free and voluntary act and deed.

This Instrument consists of only ______ (____) page/s, including this page in which this
acknowledgment is written, duly signed by the parties and their instrumental witnesses on each
and every page hereof.

WITNESS MY HAND AND SEAL this _____________ at _____________,

Philippines.

NOTARY PUBLIC

Doc. No. ______;

Page No. ______;
Book No.______;
Series of 20____.