CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and executed by and between:

DELIA FLORALDE and LORENZO PRESADO, siblings, both of legal age,

Filipinos, and residing at Barangay Cabacungan, Allen, Northern Samar, (hereinafter referred to
as the LESSORS);

- AND-

SLPA CABANGUS (CABACUNGAN), a Civic Organization, represented herein by its

President CARLOTA OMBROG, of legal age, Filipino, and a resident of Barangay Cabacungan,
Allen, Northern Samar (hereinafter referred to as the LESSEE).

WITNESSETH:

That the LESSORS are the registered owner of a certain parcel of land (Fishpond),
located at Barangay Cabacungan, Allen, Northern Samar.

That the LESSEE is in need of Fishpond for one its projects which requires among others
raising aquaculture products including but not limited to milkfish (Bangus).

NOW THEREFORE, for and in consideration of the foregoing, the LESSORS and the LESSEE
hereby agreed to enter into contract of lease under the following terms and conditions:

1. That the term of the contract of lease shall be for a period of FIVE (5) Years which
shall commence from December 1, 2023 or until December 1, 2028, subject to
the agreement of the parties in case of pre-termination;
2. That the LESSEE shall be responsible for the expenses for the renovation of the
Fishpond but the ownership of the proceeds thereof shall belong to the LESSORS
upon the expiration of the term of the Contract of Lease;
3. That the LESSEE is entitled to build thereon temporary structure or building of
moderate size that shall be used for the processing of harvested products as well
as to be used for guarding the fishpond by the members of the organization; and
the ownership over the structures shall belong to the LESSORS upon termination
of the contract of lease;
4. That the LESSORS are entitled as payment for the Contract of Lease a
consideration of TWENTY (20) Percent of the total harvest every harvesting
period.

IN WITNESS WHEREOF, I have hereunto signed this Contract of Lease, this ___ day of
November, 2023, in the Municipality of Allen, Northern Samar.

DELIA FLORALDE LORENZO PRESADO

Lessor Lessor

CARLOTA OMBROG
Lessee

Signed in the presence of:

_______________________ _________________________
Witness Witness
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

MUNICIPALITY OF ALLEN, NORTHERN SAMAR ) SS.

BEFORE ME, a Notary Public in the Municipality of Allen, Northern Samar, this
____________________ personally appeared DELIA FLORALDE, LORENZO PRESADO
AND CARLOTA OMBROG, all personally known to me and known to me to be the same
persons who executed the foregoing instrument and they acknowledged to me that the same are
their free and voluntary act and deed.

This instrument, consisting of two (2) pages, including the page on which this
acknowledgment is written refers to a Contract of Lease over a Parcel of Land, together with
improvements, signed on each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above
written.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2023.