MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This memorandum of agreement made an entered into this 23 rd day of May, 2018 at Laoag City,
Philippines, by and between:

ANITA A. COLOMA, widow, of legal age, Filipino Citizen, and a resident of Brgy. 49-A, Laoag City,
hereafter referred as the “FIRST PARTY”;

-and-

MARIE IVY L. VICENTE, single, of legal age, Filipino citizen and resident of Brgy. Nalbo, Laoag City,
Philippines, hereafter referred to as the “SECOND PARTY”;
-witnesseth:
Whereas, the first party id the surviving spouse of Guillermo Coloma, the registered co-oowner of the
undivided portion, to the extent of 38,836 square meters of a parcel of land located at the City of Laoag,
more particularly described as follows:

“A parcel of land (Lot No. 7190-B-2, Psd-01-052249, being a portion of Lot 7190-B
(LRC) Psd-173164, L.R.C. Rec. No. 1154), situated in the Brgy. But-tonh,
Rurban Code No. 012812, City of Laoag, Island of Luzon. Bounded on the SE., along
line 1-2-3 by Barangay Road (8-10 m. wide); on the SW., & NW., along line 3-4-5-6-
7-8-9-10-11-12-13 by the Road (8 m. wide); on the NW., 7 NE., along line 13-14-15-
16-17 by Kit 7191, Cad.195, Laoag Cadastre; on the NE., along line 17-18 by Lot
7190-A (LRC) PSd-173164; along line 18-19-20-1 by lot 7190-B-1 of the subdivision
plan, containing an area of thirty eight thousand nine hundred thirty six (38,936)
square meters, more or less covered by Transfer Certificate of Title No. T-33337.”

The Parties agreed as follows:

1. Subject of Sale:
a. TWO HUNDRED SEVEN SQUARE METERS portion (207 square meter portion) of the above-
described parcel of land which has been designated as Lot 7190-B-2-B;

2. Consideration:
a. The Selling price shall SIX HUNDRED SEVENTY TWO THOUSAND SEVEN HUNDRED FIFTY
(PHP672,750.00), PHILIPPINE CURRENCY;

3. Payment Terms:
a. The Second party will deliver the amount of THREE HUNDRED THIRTY SIX THOUSAND FIVE
HUNDRED PESOS (Php336,500.00) representing the down payment to the first party upon
signing this document and additional THREE HUNDRED THIRTY SIX THOUSAND FIVE HUNDRED
PESOS (Php336,500.00) until December 31, 2018;

4. Taxes and transfer Expenses:

a. The FIRST PARTY will shoulder the Estate tax, Capital Gains Tax and Notarization Fee while the
second party will shoulder the Documentary Stamp Tax, Transfer Tax and Registration Fee; and

5. The FIRST PARTY and the SECOND PARTY further agree that they shall exert utmost effort and to
fulfill and perform the provisions stipulated in this document.
IN WITNESS WHEROF, the parties hereunto set their hands this _______________ at Laoag City,
Philippines.

ANITA A. COLOMA MARIE IVY L. VICENTE

First Party Second Party
___________________ _________________

Signed in the Presence of:

ALWIN DELA CRUZ JESTER T. GUZMAN

REPUBLIC OF THE PHILIPPINES)

CITY OF LAOAG )  SS.

BEFORE ME, this 23rd day of May, 2018 at Laoag City, Philippines, personally appeared ANITA A.
COLOMA AND MARIE IVY L. VICENTE, together with their instrument witnesses, known to me and to me
known to be the same persons, who executed the foregoing instrument and acknowledged to me the
same is their free act and voluntary deed.
 
This instrument, consisting of two (2) pages, including the page on which this acknowledgment is
written, has been signed on the left margin of each and every page thereof by the concerned parties and
their witnesses, and sealed with my notarial seal.
 
WITNESS  MY HAND AND SEAL on the day, year and place above-stated.
 
Notary Public
 
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