Custodial Agreement

CUSTODIAL AGREEMENT
KNOWN ALL MEN BY THIS CONCERN:
This agreement entered into and executed this -

_________________ at Davao City.
HIJO RESOURCES CORPORATION, a corporation

duly organized and existing under and by virtue
of the laws of the Philippines, with principal
address at Barangay Madaum, Tagum City,
Davao Province, herein represented by its
President and CEO ROSANNA T. FORES,
hereinafter referred to as the “ASSIGNOR”;
- and -
______________________, a corporation duly

organized and existing under and by virtue of the
laws of the Philippines, with principal address at
Barangay Madaum, Tagum City, Davao
Province, herein represented by its Operations
Manager VINCENT T. LIM, hereinafter referred to
as the “CLIENT”;
W I T N E S S E T H:
WHEREAS, the ASSIGNOR is an owner/proprietor of agricultural

and farming equipment such as 4WD 90 HP TRACTOR;
WHEREAS, the CLIENT is developing a banana plantation in

Trento, Agusan del Sur and is in need of farm and heavy equipment
to be used for land development in its area;
WHEREAS, the CONTRACTOR offers to lease out a Tractor to the

CLIENT, and the CLIENT accepts such offer under the terms and
conditions herein stipulated;
NOW THEREFORE, for and in consideration of the foregoing

premises, the parties hereby agree as follows:
I. Duration of Agreement:
This Agreement shall be effective for three (3) months to

commence on March 18, 2019 and to end on June 17, 2019.
The period of lease may be renewed and extended on a
monthly basis, without need of executing a new lease
agreement. However, if the extended term is to go beyond
three (3) months from the expiration of this Agreement, the
parties shall execute a new lease contract under such terms
and conditions as may be agreed upon.
Any party can pre-terminate this Agreement, with or without

cause, by giving the party 30-days written notice prior to the
intended termination date.
II. Subject Matter

By virtue of this Agreement, the CONTRACTOR shall lease out to
the CLIENT a 4WD 90 HP TRACTOR, which CLIENT will use in its
farm operations.
III. Price and Payment Terms

For and in consideration of the lease of the tractor herein
described, the CLIENT, shall pay a lease rental in the amount
of Sixty Thousand Pesos (P 60,000.00) per month, which shall be
paid by CLIENT within seven (7) days upon the receipt of the
approved billing or statement of account. For this purpose, the
CONTRACTOR shall send its billing or statement of account
every 15th or 30th day of the covered month. Any billing or
statement of account sent to CLIENT should first be duly
evaluated and approved by CLIENT’S Farm Operations
Manager before payment is to be made.
IV. Responsibilities of the Parties

A. The CONTRACTOR shall be responsible for the repair and
maintenance of the tractor leased by CLIENT as well as
assign an experienced driver or operator of such tractor.
B. The CLIENT shall be responsible for the fuel for the use of
the tractor, as well as the driver or operator’s salary in the
amount of Five Hundred Pesos (P 500.00) per day,
including overtime pay.
V. Other Terms and Conditions
A. Amendments
No amendment, supplement or other modification to any
terms of this Agreement (other than amendments and
other modifications to the representations and warranties
and schedules made by the CONTRACTOR that are
expressly permitted or contemplated by this Agreement), or
termination of this Agreement (other than as expressly
provided in this Agreement), shall be valid unless in writing
and approved by the Parties.
B. Entire Agreement
This Agreement constitutes the entire agreement of the
parties relating to the subject matter addressed in this
Agreement. This Agreement supersedes all prior
communications, contracts, or agreements between the
parties with respect to the subject matter addressed
herein, whether oral or written.
C. Severability
In the event any provision or part of this Agreement is found
to be invalid or unenforceable, the Agreement shall not be
affected thereby. The remainder of the provisions shall
remain in full force and effect and shall in no way be
affected, impaired, or invalidated.
D. Relationship of Parties
Neither party may bind the other in any way whatsoever to
anyone, except in accordance with the provisions of this
Agreement.
E. Venue of Actions
The exclusive venue and jurisdiction for any action brought
by the CLIENT or the CONTRACTOR against the other shall
be brought only in Tagum City, to the exclusion of all other
courts.
IN WITNESS WHEREOF, we have hereunto affixed our signature

this _______________ in the City of Davao
ELLAN’S FARM SERVICES TREN2 AGRI INDUSTRIES, INC.

CONTRACTOR CLIENT
By: By:
______________________ VINCENT T. LIM

Owner/Proprietor Operations Manager
Signed in the presence of
_______________________ & _______________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)

IN THE CITY OF DAVAO . . . . . . . .) SS
X----------------------------X
BEFORE ME, a Notary Public for and in the City of Davao, personally
appeared the following
NAME ID No. Date & Place Issued

_______________ _______________ ________________
VINCENT T. LIM _______________ ________________
Known to me and to me known to be the same persons who

executed the foregoing Agreement and acknowledged to me that
the same are their free and voluntary act and deed:
The AGREEMENT FOR LEASE OF TRACTOR consists of four (4) pages

including the page in which this acknowledgement is written and
signed by the parties and their instrumental witnesses on each and
every page thereof.
WITNESS MY HAND AND SEAL, this ___________________________,

Davao City, Philippines.
Doc. No. _____:

Page No. _____:
Book No. _____:
Series of 2019.

Custodial Agreement

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CUSTODIAL AGREEMENT

KNOWN ALL MEN BY THIS CONCERN:

This agreement entered into and executed this -

HIJO RESOURCES CORPORATION, a corporation

______________________, a corporation duly

WHEREAS, the ASSIGNOR is an owner/proprietor of agricultural

WHEREAS, the CLIENT is developing a banana plantation in

WHEREAS, the CONTRACTOR offers to lease out a Tractor to the

NOW THEREFORE, for and in consideration of the foregoing

This Agreement shall be effective for three (3) months to

Any party can pre-terminate this Agreement, with or without

II. Subject Matter

III. Price and Payment Terms

IV. Responsibilities of the Parties

V. Other Terms and Conditions

IN WITNESS WHEREOF, we have hereunto affixed our signature

ELLAN’S FARM SERVICES TREN2 AGRI INDUSTRIES, INC.

______________________ VINCENT T. LIM

Signed in the presence of

_______________________ & _______________________

REPUBLIC OF THE PHILIPPINES)

NAME ID No. Date & Place Issued

Known to me and to me known to be the same persons who

The AGREEMENT FOR LEASE OF TRACTOR consists of four (4) pages

WITNESS MY HAND AND SEAL, this ___________________________,

Doc. No. _____:

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