COMPROMISE AGREEMENT

KNOWN ALL MEN BY THESE PRESENTS:

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-and-
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WITNESSETH:

WHEREAS, both parties come to this agreement to settle their differences and come up with
this mutual covenant that the aforesaid parties willing to undertake, to wit:

1. That after the confrontation made last August 1, 2016 at the office of the Division Legal
Officer, DepEd Schools Division of Legazpi City, and before the Division Legal Officer, both
parties expressed their willingness to reconcile their dissimilarity.

2. That the Second Party explicitly admitted the allegations made by the First Party that the
former is indebted to the latter with a total principal amount of One Hundred Thousand
(Php 100,000.00) Pesos.

3. That the Second Party manifested her willingness to settle the said amount.

4. That the First Party voluntarily accepts the willingness to settle the amount by the Second
Party and both parties agreed to the mode of payment set forth hereunder, to wit:

a. That this settlement shall only for the payment of the principal amount which is One
Hundred Thousand (Php 100,000.00) Pesos.

b. That the interest accrued shall be dealt with separately after the principal amount has
been settled.

c. That the Second Party shall pay in the following manner:

1. Thirty Thousand Pesos (Php 30, 000.00) shall be paid on September 30, 2016.
2. Forty Thousand Pesos (Php 40, 000.00) shall be paid on November 30, 2016.
3. Thirty Thousand Pesos (Php 30, 000.00) shall be paid on January 30, 2017.

d. That if default in any payment schedule shall be committed by the Second Party, the
whole amount shall be demandable..

5. That both parties voluntarily execute this compromise agreement as an expressed

intention to amicably settle their differences.

IN WITNESS WHEREOF, the parties have signed this instrument this

__________________ at ____________________, Philippines.

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FIRST PARTY

SECOND PARTY

Signed in the presence of:

_______________________________ witnesses _______________________________