DACION EN PAGO AGREEMENT

This Dacion En Pago Agreement (“Dacion”) is made and executed by and between:

JUAN DELA CRUZ, of legal age, Filipino, married to Juana Dela Cruz, with
residence address at 123 Santol St., Quezon City (“Vendor”);

- and -

ALEX SANTOS, of legal age, Filipino, married to ALEXA SANTOS, with

residence address at 456 Atis St., Marikina City (“Vendee”);

WITNESSETH: That-

WHEREAS, the Vendor is the registered owner of a certain motor vehicle, more particularly
described as follows (“Motor Vehicle”):

MAKE : NISSAN
MODEL : 2000
SERIES : FRONTIER
TYPE : PICK-UP
SERIAL NO. : 123456789
MOTOR NO. : 789654123
PLATE NO. : CAR 123
MV FILE NO. : 123654

covered by Certificate of Registration No. 456 issued by Land Transportation Office East
Ave., Quezon City and Official Receipt No. 987 dated January 1, 1987, copies of which are
hereto attached as Annexes “A” and “B”.

WHEREAS, the Vendor is indebted to the Vendee in the amount of THREE HUNDRED
THOUSAND PESOS (Php300,000.00) (“Obligation”);

WHEREAS, the Vendor is willing to settle his Obligation to the Vendee but is not liquid to do
so;

WHEREAS, the Vendor proposed to convey by way of dacion en pago, his Motor Vehicle to the
Vendee as full and complete settlement of his Obligation, and the Vendee hereby accepts the
same;

NOW THEREFORE, for and in consideration of the foregoing premises, the Vendor hereby
SELLS, TRANSFERS and CONVEYS, by way of DACION EN PAGO/ DATION IN PAYMENT
unto the Vendee, his heirs and assigns, the above-described Motor Vehicle, as well as its
accessories and accessions, valued at THREE HUNDRED THOUSAND PESOS
(Php300,000.00), free from any and all liens, encumbrances and taxes.

The Vendor further warrants his ownership over the above-described Motor Vehicle and shall
defend the Vendee from any and all claims and causes of action in connection with or arising
from this transaction.

IN WITNESS WHEREOF, we have hereunto set our hands this __________________ at

_____________________.

JUAN DELA CRUZ ALEX SANTOS

Vendor Vendee
 Marital conformity: Marital Conformity:

JUANA DELA CRUZ ALEXA SANTOS

Signed in the presence of :

Jacky Chan Junjun Binay

Acknowledgment

Republic of the Philippines ]

] S.S.

BEFORE ME, a Notary Public for and in _______________ this _________________

personally appeared:

Name Government Place/Date Issued

Issued I.D. No.

known to me and to me known to be the same persons who executed the foregoing instrument
and who acknowledged to me that the same are their free act and voluntary deed.

WITNESS MY HAND AND SEAL.

NOTARY PUBLIC

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