MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement is made this __ day of ________ 2021, by and between:

LOPEZ REALTY, INC., a corporation duly organized and existing by virtue

and under the laws of the Republic of the Philippines, herein represented by
CARLOS JOSE “CL” VALDERRAMA LOPEZ with postal address at Villa
Valderrama Subdivision, Brgy. Bata, Bacolod City. Negros Occidental, hereafter
referred to as the “FIRST PARTY”;

and

PAMMELA IMPAZ PARCON, Filipino, of legal age and with postal address
in Kalantiao St., Lopez Subdivision, Barangay 6, Victorias City 6119, Negros
Occidental, hereafter referred to as the “SECOND PARTY”.

both parties shall be collectively referred to as the “Parties”.

WITNESSETH:

WHEREAS the FIRST PARTY is the registered owner of a parcel of land located Bo.
Madanlog and Poblacion City of Victorias, Province of Negros with an area of FOUR
HUNDRED SQUARE METERS (400 sq.m.), more or less, and covered by Transfer
Certificate of Title (TCT) No. ___________ (hereinafter referred to as the “Subject Property”).

WHEREAS the SECOND PARTY has offered to buy, and the SELLER is willing to
sell a portion of the Subject Property subject to the following terms and conditions of this
Agreement.

NOW, THEREFORE, for and in consideration of the foregoing and of the terms and
conditions hereunder stated, the PARTIES enter into this Memorandum of Agreement and agree:

1) The SECOND PARTY shall purchase a portion of the Subject Property with a total
area of TWO HUNRED SQUARE METERS (200 sq.m.) out of its original land area,
as aforementioned above.

2) For and in consideration of the total sum of FOUR HUNDRED THOUSAND PESOS
(Php. 400,000.00) Philippine Currency, the FIRST PARTY agrees to sell, and the
SECOND PARTY agrees to buy the aforesaid portion of the Subject Property to be
specifically determined after the corresponding technical survey and/or partition therein.

3) The initial payment of ONE HUNDRED THOUSAND PESOS (Php. 100,000.00)

delivered by the SECOND PARTY to the FIRST PARTY, as and by way of earnest
money, which amount is to be deducted from the total sum of the agreed purchase price,
as stated above.

4) The Full payment of THREE HUNDRED THOUSAND PESOS (Php. 300,000.00),

shall be made by the SECOND PARTY in tranches within a period of five (30) months
which is TEN THOUSAND PESOS (Php. 10,000.00) in Cash every 30th of the month
starting the month of July 2021.

5) In the event that the absolute sale of Subject Property will not materialize for any reason
whatsoever – including, but not limited to, the failure of the SECOND PARTY to make
full and complete payment within the period specified herein – any and all partial and/or
installment payments made by the SECOND PARTY by virtue hereof shall be deemed
waived, forfeited and surrendered in favor of the FIRST PARTY.

6) Failure of the SECOND PARTY to complete the payment of the purchase price of the
Subject Property within said period stipulated in this agreement entitles and authorizes
the FIRST PARTY to immediately secure the physical possession of the Subject
 Property from the SECOND PARTY without the need of demand and without the need
of the express consent of the SECOND PARTY.

7) After all payments have been complied by the SECOND PARTY and successful conduct
of technical survey and/or partition of the Subject Property and/or other related process
in order to determine with finality and certainty the area to be given to the SECOND
PARTY with an area of no more than 200 square meters, the corresponding Deed of
Absolute Sale shall be executed by the Parties.

8) All real property taxes that accrue on the portion of the Subject Property before and
after the execution of this Agreement shall be for the exclusive account of the SECOND
PARTY. Further, the Parties hereby agree that all kinds of taxes, costs, and expenses
relative to the sale shall be for the exclusive account of the SECOND PARTY.

9) Should there be a need to eject certain occupants in the portion of the Subject Property
to be given to the SECOND PARTY, all expenses, and the actual filing o the
corresponding case/s thereof shall be for the exclusive account and responsibility of the
SECOND PARTY and that the FIRST PARTY shall not likewise be directly involve in
any suit that the SECOND PARTY may have relative to the foregoing.

IN WITNESS WHEREOF, the parties have hereunder affixed their signatures on the date and
place first written.

LOPEZ REALTY, INC.

First Party
By:

CARLOS JOSE “CL” V. LOPEZ PAMMELA IMPAZ PARCON

Representative Second Party

Signed in the Presence of:

_____________________________ ___________________________

ACKNOWLEDGMENT
REPBULIC OF THE PHILIPPINES )
CITY OF ) S.S.

BEFORE ME, a Notary Public for and in the City of _______________ this ____ day of
________ 2021, personally appeared the following:

Name Valid IDs Expires on

CARLOS JOSE V. LOPEZ DL No. F01-09-000253 10-03-22
PAMMELA IMPAZ PARCON UMID CRN: 0113-0095775-5 -

All known to me and to me known to be the same persons who executed the foregoing
instrument signed by the parties and their instrumental witnesses and who acknowledged the
same is their free act and voluntary deed and that of the corporation represented. This instrument
consists of two (2) pages including the page on which this acknowledgement is written duly
signed by the parties and their instrumental witnesses.

Notary Public

Doc. No. ___;

Page No. ___;
Book No. ____;
Series of 2021.