CONTRACT OF LEASE OF FARMLAND

KNOW ALL MEN BY THESE PRESENTS:

This “CONTRACT OF LEASE OF FARMLAND” entered into by and between

RIZALDY L. EVANGELISTA, of legal age, single, Filipino, and a resident of Brgy. Samput,
Paniqui, Tarlac, hereinafter referred to as the LESSOR and LEO FLORES, also of legal age,
married, Filipino, also a resident of Brgy. Canan, Paniqui, Tarlac, hereinafter referred to as the
LESSEE —

WITNESSETH

WHEREAS, the LESSOR is the owner in fee simple of two (2) parcels of land situated in
Brgy. Apulid, Paniqui, Tarlac, Philippines, known as follows:

a) Lot No. 5238-F, Area = Twenty Thousand (20,000) Square Meters

b) Lot No. 5238-G, Area = Twenty Thousand (20,000) Square Meters

All embraced under Transfer Certificates of Title No. 12492, 124903.

WHEREAS, the LESSOR agreed to lease the above mentioned parcels of land in favor of
the LESSEE,

NOW, THEREFORE, for and in consideration of the sum of THIRTY THOUSAND

PESOS (PHP30,000.00), Philippine Currency, mutual agreement and covenants herein
contained, the parties herein above have agreed and covenanted as follows:

1. That the terms of this lease contract shall be one (1) year to commence on February
15, 2007, and to end on February 15, 2008, renewable for another one (1) year at the
option of the LESSOR, upon written notice communicated by the LESSEE to the
LESSOR at least thirty (3) days in advance prior to the termination of the original
period;

2. That the LESSEE agrees to pay the LESSOR a yearly rent of THIRTY THOUSAND
PESOS (PHP30,000.00), Philippine Currency, per year, all the above parcels of land
payable in advance on or before February 15, 2007, and the succeeding payments
thereof shall be made every 15th day of February, thereafter upon renewal;

3. That the LESSEE may introduce improvements thereon upon written notice to the
LESSOR whose approval shall be implied if no written objection is interposed in five
(5) days from receipt of said notice, provided, however, that all the improvements so
introduced shall become property of the LESSOR upon payments of fifty percent
(50%) of the cost of said improvements upon termination of this contract;
Contract of Lease of Farmland, Page 2…

4. That in the event the LESSOR should sell the leased premises during the term of this
agreement, the LESSEE shall have the priority to purchase the property for the same
price and condition that it may be offered to sale to any other person, provided,
however, that in the event this property is purchased by someone other than the
LESSEE, the new owner shall be made to respect the terms and conditions of this
lease agreement. It is understood that the new owner shall allow the LESSEE to finish
the harvesting of whatever is planted in the above-said parcels of land.

IN WITNESS WHEREOF, the parties hereunto set their signed this Contract of Lease on
this 15th day of February, 2007, at Paniqui, Tarlac, Philippines.

RIZALDY L. EVANGELISTA LEO FLORES

LESSOR LESSEE

CTC No. 01603099 CTC No. 2840175401

Issued on 02-05-07 Issued on 01-31-07

SIGNED IN THE PRESENCE OF

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