Section 3. Section 44 of the same law is hereby amended as follows:

"Sec. 44. Provincial Agrarian Reform Coordinating Committee (PARCCOM). — A Provincial Agrarian Reform Coordinating Committee is hereby created in each province, composed of a Chairman, who shall be appointed by the President upon the recommendation of the EXCOM, the Provincial Agrarian Reform Officer as Executive Officer, and one (1) representative each from the Departments of Agriculture, and of Environment and Natural Resources and from the LBP; one (1) representative each from existing farmers' organizations, agricultural cooperatives and non-governmental organizations in the province; two (2) representatives from landowners, at least one (1) of whom shall be a producer representing the principal crop of the province, and two (2) representatives from farmer and farmworker or beneficiaries, at least one (1) of whom shall be a farmer or farmworker representing the principal crop of the province, as members: Provided, That in areas where there are cultural communities, the latter shall likewise have one (1) representative.

"The PARCCOM shall coordinate and monitor the implementation of the CARP in the province. It shall provide information on the provisions of the CARP, guidelines issued by the PARC and on the progress of the CARP in the province; in addition, it shall:

"a) Recommend to the PARC the following:

"1) Market prices to be used in the determination of the profit sharing obligation of agricultural entities in the province;

"2) Adoption of the direct payment scheme between the landowner and the farmer and/or farmworker beneficiary: Provided, that the amount and terms of payment are not more burdensome to the agrarian reform beneficiary than under the compulsory coverage provision of the CARL: Provided, further, That the agrarian reform beneficiary agrees to the amount and terms of payment: Provided, furthermore, That the DAR shall act as mediator in cases of disagreement between the landowner and the farmer and/or farmworker beneficiary; Provided, finally, That the farmer and/or farmer beneficiary shall be eligible to borrow from the LBP an amount equal to eighty-five percent (85%) of the selling price of the land that they have acquired;

"3) Continuous processing of applications for lease back arrangements, joint-venture agreements and other schemes that will optimize the operating size for agricultural production and also promote both security of tenure and security of income to farmer beneficiaries: Provided, That lease back arrangements should be the last resort."