MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement, made and executed by:

RODELIO VALDERAMA CARLOS, of legal age, Filipino citizen, and presently residing
at No. 613 Francisco St., Tondo, Manila, hereinafter called the FIRST PARTY;

- and -

ARNEL PASCO, of legal age, Filipino citizen, and with postal address at No. 108 Martinez
St., San Jose Subd., Binan, Laguna, hereinafter called the SECOND PARTY;

- and -

CARLITA DELA PENA PASCO, of legal age, Filipino citizen, single, and presently
residing at Block 43, Lot 31, Buenavista Executive Homes, Calamba City, Laguna, hereinafter
called the THIRD PARTY;

WITNESSETH:

That the Second Party have a loan obligation to the First Party amounting of Six Million
Sixteen Thousand Thousand Pesos (P6,016.000.00) Philippine currency,;

That the Third Party is the registered and absolute owner of a three (3) parcels of land situated
at Calamba City, Laguna, Philippine, as follows:

a) One (1) parcel of land without improvements located at Barandal, Calamba City,
Philippines, with an area of One Hundred (100) Square Meters and covered by Transfer
Certificate of Title No. 733258;

b) One (1) parcel of land with improvements located at Block 43, Lot 29, Laguna Buena
Vista Homes, Calamba City, Philippines, with an area of Eighty (80) Square Meters;

c) One (1) parcel of land with improvements located at Block 43, Lot 31, Laguna Buena
Vista Homes, Calamba City, Philippines, with an area of Eighty (80) Square Meters;

That the First Party agreed to reduced the loan obligation of the Second Party in the amount of
FIVE MILLION PESOS (P5,000.000.00) Philippine currency;

That the Third Party willing to transfer of her three (3) parcels of lot together with
improvements thereon for the payment of the loan obligation of the Second Party;

NOW, THEREFORE, for and in consideration of the foregoing premises, and of the parties’
mutual covenants, the parties hereby agree as follows:

1.) The loan obligation of the Second Party reduced in the amount of Five Million Pesos
(P5,000.000.00) Philippine currency;

2. That the Third Party shall be execute a Deed of Absolute Sale in favor to the First Party for
the three (3) parcel of land located at Calamba City, to wit:

Page 2
 a) For the property located at Barandal, Calamba City, Philippines, with an area of One
Hundred (100) Square Meters and covered by Transfer Certificate of Title No. 733258, in
the amount of SEVEN HUNDRED THOUSAND PESOS (P700.000.00) Philippine
Currency;

b) For the properties located at Lot 29 and 31 both Block 43, Laguna Buena Vista Homes,
Calamba City, Philippines, with an area of Eighty (80) Square Meters each or a total One
Hundred Sixty (160) Square Meters, in the amount of FOUR MILLION TWO
HUNDRED THOUSAND PESOS (P4,200.000.00) Philippine Currency;

3. The remaining of EIGHT HUNDRED THOUSAND (P800.000.00) Philippine currency,

shall be paid of the Second Party to the First Party monthly amounting of THIRTY THOUSAND
PESOS (P30,000.00) per month until he fully pay his loan obligation to the First Party;

4. Upon signing of this agreement the First Party turn over all the checks to the Second Party;
which he acknowledge before;

The parties have constituted this to be their entire Agreement as regards the aforesaid subject
matter, and no termination or modification hereof shall be deemed valid unless made so in the
proper public instrument duly executed by both parties.

DONE in _________________, Philippines, this _____ day of ______________, 20____.

RODELIO VALDERAMA CARLOS ARNEL PASCO

First Party Second Party

CARLITA DELA PENA PASCO

Third Party

SIGNED IN THE PRESENCE OF:

1.____________________________ (WITNESSES) 2.______________________________

Address: ______________________ Address: ________________________

Page 3
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

________________________________)SS.

BEFORE ME, a Notary Public, for and in _____________, Philippines, this _____ day of
___________________, 20_____, personally appeared,

NAME PROOF OF IDENTITY

RODELIO VALDERAMA CARLOS _____________________________

ARNEL PASCO _____________________________
CARLITA DELA PENA PASCO _____________________________

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

This instrument refers to a Memorandum of Agreement, consisting of three (3) pages, duly
signed by the parties and their witnesses on each and every page, and sealed with my notarial
seal.

WITNESS MY HAND AND SEAL.

Doc. No. _____

Page No. _____
Book No. _____
Series of 20___