CONTRACT OF ANTICHRESIS

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF ANTICHRESIS made and entered into this ____ day of
________, 20___, by and between ____________________, of age, (single,
married/widowed) resident of ____________________, Philippines hereinafter
called the DEBTOR, and

____________________, of age, (single, married/widowed), resident at

____________________, Philippines, hereinafter called the CREDITOR,

WITNESSETH

WHEREAS, That the DEBTOR hereby acknowledges to be indebted to the

CREDITOR in the principal sum of ____________________ (_______________) due
and payable on ____________________, with interest rate of 5% per annum from
the date of the loan;

That the accrued interest alone now due and payable on the principal
amounts to as of ____________________;

That the total amount owing by the DEBTOR to the CREDITOR, including
the interest is ____________________ (_______________) as of this date;

That the DEBTOR, in order to be able to pay the CREDITOR, hereby agrees
to permit and allow the latter to take possession of a certain parcel of Rice land
belonging to the DEBTOR, located in ____________________ and more particularly
described as follows:

“Technical Description of the Property”

Which land is covered by ____________________ of the Register of Deeds of the

Province of Umingan, Pangasinan;

Terms and Conditions

WHEREAS, that the CREDITOR, by virtue hereof shall have the right to cultivate,
and receive the fruits of, the above-described land, with the obligation of applying
the net proceeds thereof to the extinguishment of the above-mentioned loan;

WHEREAS, that the net market value of the fruits obtained or harvested at the
time of the application thereof to the interest and principal shall be the measure
of such application of payments;

WHEREAS, that the parties hereby agree that the DEBTOR shall not require the
possession and enjoyment of the above-described property without first having
totally paid what he owes the CREDITOR; Provided, however, that in no case
shall the right of possession and enjoyment on the part of the CREDITOR
continue for more than FIVE (5) years after which the right of possession and
enjoyment shall revert automatically to the DEBTOR, without prejudice on the
part of the CREDITOR to avail himself of the other remedies provided for by
existing law.

WHEREAS, the CREDITOR shall deliver full physical possession of the land
holding to the DEBTOR upon the full payment of the total amount (principal
and interest). Provided, that in case the DEBTOR wants to pre-terminate the
contract in any crop year, he shall furnish the loan in full amount, in the
currency stipulated, to the CREDITOR. Provided, further, that in case there
was a pre-termination of the contract, the DEBTOR shall be obliged to pay the
CREDITOR 10% of the amount of loan as damages.

WHEREAS, that in case the DEBTOR decides to sell the landholding, the
CREDITOR shall have the preferential right to buy the same under reasonable
terms and conditions: Provided, The right of first refusal under this paragraph
may be exercised within ninety (90) days from notice in writing which shall be
served by the owner on interested prospective buyers affected.

WHEREAS, that in case the landholding is sold to a third person without the
knowledge of the CREDITOR, the latter shall have the right to redeem the same
at a reasonable price and consideration: Provided, That the entire landholding
sold must be redeemed. The right of redemption under this paragraph may be
exercised within two (2) years from the registration of the sale, and shall have
priority over any other right of legal redemption.

WHEREAS, that is also agreed that while this contract is in effect, all taxes and
other charges upon the estate in question shall be for the account of the
DEBTOR.

IN WITNESS WHEREOF, the parties hereto have hereunto signed this

contract the day and year first above written, in ____________________,
____________________, Philippines.

Sgd. ____________________, Sgd. ____________________,

DEBTOR CREDITOR

SIGNED IN THE PRESENCE OF:

____________________ ____________________
 ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

(Name of LESSOR) 10000000 February 24, 20__ / Cavite

City

(Name of LESSEE) 10000000 January 07, 20__ / Makati

Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act and
deed.

This instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Notary Public

Doc. No.______;

Page No. ______;

Book No.______;

Series of 20___.