MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement is made and executed by EXCELSO
T.ARANETA, JR., of legal age, Filipino, married and a resident of Bago City, Philippines, and
NOLITO RIOS and ALAN RIOS both of legal age, Filipinos and residents of Prk.Kawayanan,
Brgy.Malingin, Bago City.



W I T N E S S E T H
That Nolito and Alan Rios will lend Mr.Araneta the sum of ONE HUNDRED
SEVENTY THOUSAND PESOS (P170, 000.000) Philippines currency payable in three (3)
years without interest.
In exchange, Mr.Araneta will allow and let Mr.Nolito and Alan Rios to plant,
sow, and harvest the .50 hectares (one half hectare) of his lot___ situated in Prk.Kawayanan,
Brgy.Malingin, and Bago City starting June 2014 for a period of three years. All proceeds of the
harvest to be owned by Mr.Nolito and Alan Rios.
That, if in three years (3)years time, Mr.Araneta cannot pay the P170,000.00
loan, Mr.Nolito Rios and Alan Rios will continue to plant, sow and harvest on the said lot until
full payment is paid.
That when full payment is made, Mr.Nolito Rios and Alan Rios are required and
obligated to return possession of the said .50 hectares(one half hectare) of lot____ to Mr.Excelso
T.Araneta,Jr. and cease any sowing, planting and harvesting activity of the said lot.
That during the period of three (3) years, the burden of payment of NIA services
shall be shouldered by Mr.Alan and Nolito Rios.
That every breach of any condition and stipulations of these presents shall
entitle the aggrieved party to collect from the guilty party damages excluding attorneys fees
That the parties herein bind themselves to observe the stipulations and
conditions of these presents in good faith and with all fidelity.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands on
these presents this 13
th
day of June.2014 in the City of Bago.

EXCELSO T. ARANETA, JR. NOLITO RIOS ALAN RIOS


WITNESSESS:
_______________________________ _______________________________




















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