This Memorandum of Agreement made and executed by and
between:
MARK CHUA LEMKE, Filipino, of legal age, and a resident of
Calinan, Davao City, herein called the First Party ; and
ETHELYN DERAMA, Filipino, of legal age and a resident of
Propseridad, Agusan del Sur, hereinafter referred to as the SECOND PARTY ;
WITNESSETH:
WHEREAS, the FIRST PARTY and SECOND PARTY agreed to invest a
certain amount to form a business ;
WHEREAS, the BOTH PARTIES acknowledges their respective
desire to form a logging business, specifically ACACIA MANGIUM species in the island of Mindanao ;
NOW, THEREFORE, for and in consideration of the foregoing,
the parties hereby agree to the following terms and conditions stipulated hereunder :
1. That BOTH PARTIES shall invest ONE HUNDRED THOUSAND
(P100,000.00) PESOS EACH ;
2. That the BOTH PARTIES shall enjoy an equal sharing from
the net profits or 50/50 and shall be distributed to both parties every three (3) truck loads ;
3. That the business operations shall start immediately upon
the signing of this agreement and shall have a term of One (1) year renewable upon mutual agreement of both parties ;
4. It is hereby understood likewise that during the entire
duration of this agreement, the SECOND PARTY will be the operations manager thereof ;
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 9th day of November 2011, in San Francisco, Agusan del Sur, Philippines.
MARK CHUA LEMKE ETHELYN DERAMA
(First Party) (Second Party)
Signed in the presence of :
_____________________ ______________________
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF AGUSAN DEL SUR ) MUNICIPALITY OF SAN FRANCISCO )SS
ACKNOWLEDGMENT
BEFORE ME, this 9th day of November 2011 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 acts and deeds.
The parties and their witnesses at the left margin of each
and every page have signed this instrument consisting of 3 pages including this page hereof.
WITNESS MY HAND AND SEAL, the day, year and place above- mentioned.
LEON O. MONTILLA, JR.
Notary Public Until December 31, 2013 IBP Lifetime No. 03110 PTR No. 3571435 on 1-11-11 At Agusan del Sur Roll No. 44691 Doc. No. Page No. Book No. 108 Series of 2011