AGREEMENT
April 2, 1997
Xxxx Xxxx
Xxxxx Plantation, Inc.
P. X. Xxx 000
Xxxxxxxxxxx, Xx. 00000
Dear Xxxx:
By mutual agreement, the agricultural lease dated January 1, 1988 and
expired on January 1, 1997 is extended for an additional five years with a
five year renewal option by written agreement of both parties by January 1,
2001, one year before expiration of the first five year period. All terms
remain the same, except Section 2 to be revised to reflect most current
values of planted acreage in sugar cane, as follows:
Compensation for the difference in acreage shall be
determined by a mutually agreed upon 3rd party knowledgeable
of such values of sugar cane.
As per the lease agreement, please forward to this office, current
Certificates of Insurance for proof of Workmen's Compensation and General
Liability Insurance in the amount of $1,000,000 with Sterling Sugars, Inc.
named as additional insured.
Sincerely,
Xxxxx X. Xxxxxxxx
Agreed: /s/ Xxxxx X. Xxxxxxxx
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Sterling Sugars, Inc.
Agreed: /s/ Xxxx X. Xxxx
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Xxxxx Plantation, Inc.
IV-7 -33-
