COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

THIS AGREEMENT is entered into by and between the following parties:

_________________, Filipino, of legal age, married and a

resident of ____________, hereinafter referred to as the
“FIRST PARTY”;

-and-

_______________, Filipino, of legal age, married and a

resident of ___________________________, hereinafter
referred to as the “SECOND PARTY”;

WITNESSETH: -

WHEREAS, the parties hereto had mutually agreed to the following terms and
conditions for the settlement of all damages and expenses caused by a vehicular accident
between the FIRST PARTY and the son of the SECOND PARTY, to wit:

“Initial investigation gathered by the investigator-on-case shows that

prior to the incident, Mr. Ballad was driving his bicycle while on his way
home along Maharlika Highway, Libag Norte, Tuguegarao City, Cagayan
heading north direction while the vehicle described as Isuzu ten-wheeler
truck, bearing Plate No. WTA 497, driven by Mr. Ramirez which was
likewise traversing along Maharlika Highway, heading the same direction.
That upon reaching the place of incident, particularly before Libag
Elementary School, said vehicle overtook and accidentally side sweep the
victim that caused the victim to fall on the pavement of the road and he ran-
over by said truck that caused him (victim) to sustain severe injury.
However, said vehicle did not stop and fled towards Peñablanca, Cagayan
and moment later, duty radio operator PSSg Eugenio Turaray informed
PCpl Heherson Lagua, duty investigator of PCP Libag that said suspect
voluntarily surrendered himself to this office (Main Station) together with his
driven vehicle.”

WHEREAS, all parties expressed their sincerity in settling the case through amicable
settlement, and with their efforts it has been agreed that the both parties will help each other in
the medical expenses of victim PAOLO B. BALLAD.

That, as a sign of good faith and initial payment, the FIRST PARTY hereto gives the
amount of FIFTY THOUSAND PESOS (Php 50,000.00) which will partially cover the medical
expenses of __________________ at Cagayan Valley Medical Center.

That, the SECOND PARTY shall inform the FIRST PARTY of additional
costs/expenses in the hospitalization of Mr. _____________________.

The Compromise Agreement entered into by the parties will serve as proof of their
mutual understanding and, in view of the understanding the same, the matter has been clearly
threshed out and there is no more need to press/file any complaint;

That in violation of the terms and conditions of this Compromise Agreement, either
Party may seek to redress to the proper court of law, however, at this moment BOTH PARTIES,
by this Agreement, shall waive any right against each other.
 This Agreement shall take effect immediately upon signing unless sooner revoked or
rescind by another instrument.

IN WITNESS WHEREOF, the parties hereunto set their hands this 4 th day of October
2021 at Tuguegarao City, Cagayan, Philippines.

First Party Second Party

DL No. B04-88-013202

ACKNOWLEDGMENT

Republic of the Philippines )

Tuguegarao City, Cagayan ) S.S.
x-------------------------------------------x

BEFORE ME, personally appeared the above-named parties, who signed the instrument
consisting of two (2) pages and acknowledge the same as their free act and voluntary deed.

WITNESS MY HAND on the date stated above.

Doc. No. ____;

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