COMPROMISE AGREEMENT

KNOWN ALL MEN BY THESE PRESENTS:

This Compromise Agreement is made and entered into this ___ day of _________,
2018 at _____________ by and between:
_________________, resident of and with postal address at
___________________, herein after referred to as the First Party;
-and-
____________, of legal age, married and resident of
_______________________________, hereinafter referred to as the
Second Party;
WITHNESSETH:
WHEREAS, the SECOND PARTY leased the property owned by the FIRST
PARTY located at _________________________________ where it was previously
agreed upon to pay an advance monthly rental of two thousand pesos (P 2,000.00) and
four thousand pesos (P4,000.00) two (2) months deposit;
WHEREAS, the SECOND PARTY spent some amount of money renovating
portion of the leased property where the FIRST PARTY is said to be unaware of;
WHEREAS, the parties jointly manifest that their interests shall be better served
by a cordial and harmonious discussion of their claims and differences towards a mutually
satisfactory compromise;
In consideration of the foregoing, both parties by their mutual covenant hereby agreed
as follows:
1. The FIRST PARTY shall reimburse the SECOND PARTY a total amount of
eighteen thousand pesos (P 18,000.00) which will cover and represent all the
monetary claims of latter against the former;
2. Upon receipt of the said amount, the SECOND PARTY shall immediately return to
the FIRST PARTY the key and the actual possession of the leased property;
3. The party thereby mutually release, waive and forever discharge each other, their
successors or assigns, from any claims, demand/s and/or causes of action of
whatever nature arising from and/or related to the leased property;
4. The parties undertake to faithfully comply with their obligations under this
Agreement.
IN WITNESS WHEREOF, the parties hereby affix their signature below this ___ day
of ______, 2018 at _______________________.

First Party Second Party

___________________________ ___________________________
Witness Witness