Partnership

ARTICLES OF PARTNERSHIP

Of

HI LIFE BUY AND SELL

KNOW ALL MEN BY THESE PRESENTS:

These Articles of Partnership, made and exuted by and among ;

MICHAEL JIM LACAMENTO, Filipino, residing at Buayan, M’lang, North Cotabato;

KRISLAM SALILAMA., Filipino, residing at Poblacion A, M’lang, North Cotabato; all of legal age, witnesseth:

1. That they have formed a partnership among themselves under the name and style of HI LIFE BUY AND SELL ;

2. That the purposes for which said partnership is formed are:

- To engage in Buying and selling agriculural products

- To invest assets in the partnership

- To have a share in the earnings and in the capital of the business

- To operate or conduct partnership business

3. That the principal office of the partnership shall be located at M’langy, North Cotabato ;

4. That it is hereby stipulated that MICHAEL JIM LACAMENTO shall be the partner to whom the management of the firm and the use of its signature shall be entrusted, and he shall exercise such powers necessary to attain the purposes of this partnership, including the power to draw drafts, bills of exchange and other negotiable instruments and accept the same for and in the name of the firm, to appoint and dismiss employees and to fix their tenure and compensation; to deposit money in banks and with the counter-signature of KRISLAM SALILAMA , the Treasurer, withdraw the same for purposes of the partnership;

5. That the term of existence of this partnership shall be 10 years from and after the execution of these articles;

6. That the capital of the partnership shall be contributed by the partners, as follows, to wit:

Michael Jim Lacamento 500,000

Krislam Salilama 300,000

7. That the profits and losses shall be divided share and share alike among tha partners of the partnership

Michael Jim Lacamento 50%

Krislam Salilama 50%

8. That the managing partner is hereby given a salary of five thousand pesos (P5,000.00) per month;...