COMPROMISE AGREEMENT AND SETTLEMENT

This Agreement is entered into and executed by and between:

EVELYN BELARDO ROSETE, Filipino, with address at 2130

Perlita St., San Andres, Manila, hereinafter referred to as the "FIRST PARTY";

- and -

LEONITA BELARDO CAASI, Filipino, of legal, with address at 40

Maningning St., Teacher's Village, Quezon City, hereinafter referred to as the
"SECOND PARTY".

WITNESSETH:

WHEREAS the parties are both grand daughters of Spouses Leoncio and Feliciana
Belardo who owned a parcel of land (then unregistered) located in San Miguel, Silang Cavite,
with an area of 17,000 sq. meters, more or less.

WHEREAS, after the Spouses Belardo died sometime in 1937, their children namely,
Jovita, Dominador, Victor and Leonila divided the said property among themselves.

WHEREAS, Jovita, the mother of the FIRST PARTY got as her share the parcel of
land now known as Lot 15598, Cad 452-D, Silang, Cadastre while Leonila obtained the
portion now known as Lot 15595, Cad 452-D, among other parcels.

WHEREAS, after Jovita passed away on 12 June 1975, the parcel known as Lot
11598, Cad 452-D was inherited by, and passed on to her daughter, the FIRST PARTY
herein, as evidenced by Tax Declaration No. 97-46820. On the other hand, the SECOND
PARTY inherited Lot 15595 Cad 452-D from her mother, Leonila Belardo, when her mother
died on 8 June 1985.

WHEREAS, the SECOND PARTY subsequently applied for a free patent over Lot
15595 Cad 452-D but in the process, she mistakenly likewise filed an application over a
portion of Lot 1559-8, Cad 452-D under Free Patent Application No. 04-21-18-19-A which
belonged to Jovita Belardo and now owned by the FIRST PARTY.

WHEREAS, the SECOND PARTY's Free Patent Application No. 04-21-18-19-A was
approved in 1993 and as a result OCT No. (T-5710) 4241 in the name of the SECOND
PARTY was issued on 4 October 1993 which included a portion of Lot 15598, Cad 452-D.
 WHEREAS, when the FIRST PARTY, had her property also known as Lot 15598,
452-D, surveyed, she discovered that a portion thereof containing an area of 421 sq. meters
(the "Encroached Portion") has already been titled and included in OCT No. (T-5710) 4241
in the name of the SECOND PARTY. A copy of the Survey Plan showing the encroachment
on Lot 15598, 452-D is attached herewith as Annex "A". The Encroached Portion has been
segregated, is now known as Lot 15598-A, Cad 452-D and more particularly described as
follows:

Lot 15598-A
Psd-04 - ________________

A parcel of land (Lot 15598-A of the subdivision plan Psd-04-___,

being a portion of Lot 15598, Cad. 452-D, Silang, Cadastre. L.R.C. Record
No. ) situated in the Barangay of San Vicent, Municipality of Silang, Province
of Cavite. Bounded on the NE., along line 1-2 by Lot 9664, Cadm 452-D,
Silang Cadastre; on the S., along line 2-3 by Lot 9666, Cadm. 452-D, Silang
Cadastre; on the W., along line 3-4 by Lots 9665-A, 9665-B and 9665-C, all of
Csd-04-006099-D and on the N., along line 4-1 by Lot 15598-B of the
subdivision plan. Beginning at a point marked "1" on plan, being S. 59 deg.
49'W., 646.65 m. from BL.L.LM. No. 1, Cad 452-D, Silang Cadastre;

thence S. 8 deg. 03'E., 80.78 to point 2;

thence S. 89 deg. 40'W., 10.31 m. to point 3;
thence S. 0 deg. 52'W., 80.03 m. to point 4;
thence N. 84 deg. 34'E., 0.21 m. to point of

beginning; containing an area of FOUR HUNDRED TWENTY ONE (421)

SQUARE METERS. All points referred to are indicated on the plan and are
marked on the ground by P.S. cycl. conc. mon. 15x60 cm.; bearings, Grid;
date of Original Survey, June 20 -- July 14, 1981 and that of the subdivision
survey on _________

WHEREAS, the FIRST PARTY immediately filed through her attorney-in-fact, Rio
Sesinando E. Venturanza, an Affidavit of Adverse Claim with the Registry of Deeds for
Tagaytay City and had the same annotated on OCT (T-5710) 4241. Copy of the Adverse
Claim is attached herewith as Annex "B".

WHEREAS, after discussing the matter between themselves, the SECOND PARTY
realized her mistake and that indeed she had included in her application for title the
Encroached Portion which is owned by the FIRST PARTY.

WHEREAS, the parties recognize the importance of preserving peace and harmony
between themselves and their families.

NOW THEREFORE, for and in consideration of the foregoing premises, the

SECOND PARTY hereby, acknowledges and recognizes the right of the SECOND PARTY
to and over the Encroached Portion of Lot 15598 Cad 452-D which is presently included in
her title under OCT No. (T-5710) 4241 and therefore waives her right thereto in favor of the
FIRST PARTY.

THE SECOND PARTY hereby requests the Register of Deeds for Tagaytay City to
partially cancel her title covered by OCT No. (T-5710) 4241 and issue in favor of the FIRST
PARTY a new title covering the Encroached Portion as above described.

-2-
 IN WITNESS WHEREOF, the parties have set their hands this ___ day of
___________ at _____________.

EVELYN BELARDO ROSETE LEONITA BELARDO CAASI

(FIRST PARTY) (SECOND PARTY)

SIGNED IN THE PRESENCE OF:

_______________________ ________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

) S.S

Before me, a Notary Public, for and in ___________________, this ____ day of
____________________ 2003, personally appeared Evelyn Belardo Rosete with her Passport
No. No. 056935831 issued on July 15, 2002 at San Francisco, California at known to me and
to me known to be the same person who executed the foregoing instrument and
acknowledged to me that the same is her free and voluntary act.

This instrument refers to a Compromise Agreement and Settlement consisting of ___

(__) pages including this page on which this acknowledgment and the page where the
acknowledgment of the SECOND PARTY appears, signed by the parties and their respective
witnesses on all pages thereof.

Notary Public
Doc. No. ____;
Page No. ____;
Book No. ___;
Series of 2003.
/conversion/tmp/activity_task_scratch/553130354.doc-
RSEv\cyn

-3-
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

) S.S

Before me, a Notary Public, for and in ___________________, this ____ day of
____________________ 2003, personally appeared Leonita Belardo Caasi with her
Community Tax Certificate No. __________ issued on ___________ at _______________
known to me and to me known to be the same person who executed the foregoing instrument
and acknowledged to me that the same is her free and voluntary act.

This instrument refers to a Compromise Agreement and Settlement consisting of ___

(__) pages including this page on which this acknowledgment and the page where the
acknowledgment of the FIRST PARTY appears, signed by the parties and their respective
witnesses on all pages thereof.

Notary Public
Doc. No. ____;
Page No. ____;
Book No. ___;
Series of 2003.