MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

5 This Memorandum of Agreement made and entered into by and between:

ILDEFONSO B. CABALLERO married to NELLIE M.

ALARCON, of legal age, Filipino, and a resident of
Bacolod City, Philippines, (hereinafter referred to as the
10 "FIRST PARTY"),

- and -

ROY YAP, of legal age, married, Filipino, and a resident of

15 Bacolod City, Philippines, (hereinafter referred to as the
"SECOND PARTY"),

WITNESSETH: THAT -

20 That the FIRST PARTY is the true and absolute owner of a parcel of land situated in
Municipality of Sipalay, Neg. Occ, Philippines, more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO. T-116071

25 “A parcel of land (Lot 3596-A of the subdivision plan (LRC)

pad 7272426, approved non-subdivision project, being portion of Lot
3696, Cauayan Cadastre, LNC Cad. Record No.98C), situated in the
Poblacion, Municipality of Sipalay, Prov. of Negros Occ., Island of
Negros…containing an area of FORTY EIGHT THOUSAND THREE
30 HUNDRED THIRTEEN (48,313) SQUARE METERS, more or less.
xxx”

The portion subject of this sale is described as follows:

35 “A portion of the above-described land with an area of ONE

THOUSAND (1,000) SQUARE METERS, more or less”

WHEREAS, the FIRST PARTY desires to sell the above-described a portion of the
40 above-mentioned parcel of land to the BUYER, and the BUYER agrees to buy the same.
The subject portion of the land traverses through Lot 3596-A and will be utilized by the
BUYER as 5 x 200 meter road/outlet to the public highway.

WHEREAS, the FIRST PARTY and SECOND PARTY agree to maintain the right
45 of the FIRST PARTY to use the above-described portion sold to the SECOND PARTY as
a right of way and the SECOND PARTY is willing and able to provide and grant such use
to the above-described portion to the FIRST PARTY as long as the FIRST PARTY
maintains the ownership of the Lot 3596-A covered under TCT NO. T-116071 or any part
thereof.
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NOW THEREFORE, for and in consideration of the sum of THREE HUNDRED
THOUSAND (P300,000.00) PESOS, Philippine Currency, which amount is received and
acknowledged in full by the FIRST PARTY upon signing of this Memorandum of
Agreement, to his full and complete satisfaction, the FIRST PARTY hereby SELLS,
55 TRANSFERS and CONVEYS to the BUYER, his heirs, assigns and successors-in-
interest, the above-described parcel of land, with all the improvements erected and found
 thereon, free from all liens and encumberances. The SECOND PARTY likewise grants
the FIRST PARTY his heirs, assigns, and successors-in-interests, a right to use the above-
described portion of the property as a right of way as long as they maintains the
ownership of the above-described Lot 3596-A or any part thereof. The FIRST PARTY
5 and SECOND PARTY, their heirs, assigns, and successor-in-interests undertake not to
commit any act as would impede the flow of pedestrian and vehicular traffic on the said
parcel of land/roadway.

The SECOND PARTY hereby authorizes the Office of the Register of Deeds of
10 the Province of Negros Occidental to annotate this agreement at the back of the Transfer
Certificate of Title No. T-116071 aforedescribed as a lien of the real property described
therein.

IN WITNESS THEREOF, the parties have hereunto set their hands on ____ day
15 of ___________, 2017 at Bacolod City Philippines.

ILDEFONSO B. CABALLERO ROY YAP

20 First Party Second Party

SIGNED IN THE PRESENCE OF:

25
__________________ __________________

30 REPUBLIC OF THE PHILIPPINES)

CITY OF BACOLOD) SS.
x------------------------------------x

ACKNOWLEDGMENT
35
BEFORE ME, a Notary Public, for and in the City of Bacolod Philippines, this ____
day of ____________, 2017, personally appeared ILDEFONSO B. CABALLERO
and ROY YAP with government issued identification nos. ________________, and
________________, respectively, known to be the same persons who executed the
40 foregoing instrument. This Deed of Sale consists of two (2) pages, including this page on
which this acknowledgment is written, is duly signed by the parties and they
acknowledge to me that the same is their own free and voluntary deed.

WITNESS MY HAND AND SEAL on the date and at the place first above-written.
45
Doc. No. ______;
Page No. ______;
Book No.______;
Series of 2017.
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