ACKNOWLEDGMENT RECEIPT

OF PAYMENT with DEED of UNDERTAKING

KNOW ALL MEN BY THESE PRESENTS:

I RAMON S. DELA CRUZ, of legal age, Filipino and resident of the Tabucan,
Mandurriao, Iloilo City, herein after referred to as SELLER, do hereby acknowledge receipt
of the amount of FORTY FIVE THOUSAND FIVE HUNDRED PESOS ONLY (₱45,500.00)
from CALUMPANG 2095-B ASSOCIATION which recently merged with Calumpang 178
Homeowners’ Association, Inc hereinafter referred to as the BUYER, as partial payment
for a portion of land specifically described and covered by the title shown herein below:
.

Containing an area of FORTY FOUR THOUSAND ONE HUNDRED FIFTY

EIGHT (44,158) SQUARE METERS, more or less.

Breakdown of individual payors and their corresponding payment is

hereby attached as Annex “A”.

That I hereby undertake to execute and sign a Contract to Sell in favor of

Calumpang 178 Homeowners’ Association, Inc. to which you are a member by
virtue of you agreement to merge, upon complete payment by the Homeowner’s
Association of the earnest money amounting to FIVE MILLION PESOS
(₱5,000,000.00) and ONE MILLION EIGHT HUNDRED TWENTY THOUSAND
PESOS ONLY (₱1,820,000.00) in the case of CALUMPANG 2095-B ASSOCIATION.

IN WITNESS WHEREOF, we have hereunto set our hands this _______________________

in the City of Iloilo, Philippines.

RAMON S. DELA CRUZ

OSCA ID No. 0018795

Signed in the Presence of:

STEWART PAUL T. TORRE & ________________________________

SUBSCRIBED AND SWORN to before me this ___________________________ at Iloilo City Philippines, affiant
exhibiting to me her competent evidence of identity indicated below their name.
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