This Memorandum of Agreement made and executed by and
between:
THE HEIRS OF RUDOLFO DUGANGAY, namely: CARIDAD , Filipino,
of legal age, and a resident of Brgy. 3, San Francisco, Agusan del Sur, herein called the First Party ; and
WILLIE S. BAUTISTA, Filipino, of legal age and a resident of
Karaos, San Francisco, Agusan del Sur, hereinafter referred to as the SECOND PARTY ;
WITNESSETH:
WHEREAS, the SECOND PARTY is an owner of two parcels of
land, covered by Transfer Certificate of Title Nos. T-22036 and T-22037 ;
WHEREAS, the SECOND PARTY is in need of an amount for a
certain project ;
WHEREAS, the FIRST PARTY is willing to lend that amount to
the SECOND PARTY, provided that a guarantee will be posted ;
NOW, THEREFORE, for and in consideration of the foregoing,
the parties hereby agree to the following terms and conditions stipulated hereunder :
1. That the SECOND PARTY pledges to the FIRST PARTY, the
titles mentioned above ;
2. That the FIRST PARTY shall in return give Two Hundred
Thousand (P200,000.00) Pesos to the SECOND PARTY, with an interest of 15% per month ;
3. That likewise, a post dated check shall be issued by the
SECOND PARTY, in the amount of Two Hundred Thirty Thousand (P230,000.00) Pesos, which is inclusive of the 15% interest for one month ;
4. That in the event that the obligation will be settled
within 15 days, the FIRST PARTY agrees to lower the interest from the original 15% ; 5. That the parties shall observe good faith and fidelity in the performance of their respective duties and obligation.
IN WITNESS WHEREOF, the parties have hereunto affixed their
hands this 12th day of November 2012, in San Francisco, Agusan del Sur, Philippines.
EDELYN S. MONTERDE WILLIE S. BAUTISTA
(First Party) (Second Party)
Signed in the presence of :
____________________ _____________________
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF AGUSAN DEL SUR )SS MUNICIPALITY OF SAN FRANCISCO )
ACKNOWLEDGMENT
BEFORE ME, this 25th day of September 2012 at San Francisco,
Agusan del Sur, personally appeared the above-named persons represented to me to be the same persons who executed the foregoing instrument, and they acknowledged to me that the same are their free act and deed.
This document consisting of two (2) pages including this
page has been signed by the parties and their witnesses at the left margin of each and every page hereof.
WITNESS MY HAND SEAL, the day, year and place above-
mentioned.
LEON O. MONTILLA, JR.
(Notary Public) Until December 31, 2013 IBP Lifetime No. 03110 Doc. No. PTR No. 4178655 on 1-4-12 Page No. at Agusan del Sur Book No. 123 Series of 2012