MEMORANDUM OF UNDERSTANDING

DECEMBER 19, 2022

KNOW ALL MEN BY THESE PRESENTS:

This instrument is made and entered into by and between:

FEDERICO P. ELIZAGA of barangay San Agustin, Babatngon, Leyte, and ANACRES T. VARONA, of
barangay Binongtoan, Alangalang, Leyte now herein called the FIRST PARTY;

-And-

RICARDO N. MACAILING and group, ELVIE C. REGNER and group, and now herein after called
the SECOND PARTY;

-WITNESSETH-

WHEREAS, the FIRST PARTY represent a group of property owners and are authorized by the sellers
per the Special Power of Attorney signed by the sellers.

The FIRST PARTY hereto agree to engage and authorized the SECOND PARTY to sell the
properties herein described as follows:

AREA : 800 hectares

LOCATION : Babatngon, Leyte

OCT NO. : (See Attached)

WHEREAS, the asking price of the FIRST PARTY is Ninety Pesos(Php90.00) per square meter net of
all expenses.

WHEREAS, the FIRST PARTY authorized the SECOND PARTY to negotiate for and overprice the
amount of Ten Pesos(Php10.00) per square meter.

WHEREAS, in the event that the sale is consummated, the amount in excess from the asking
price of the FIRST PARTY will be given to the agents as commission as follows:

1. RICARDO N. MACAILING/Group – Five Pesos and Fifty Centavos(Php5.50) per square meter
2. ELVIE C. REGNER/Group – Four Pesos and Fifty Centavos(Php4.50) per square meter

FEDERICO P. ELIZAGA ELVIE C. REGNER

FIRST PARTY SECOND PARTY
TIN NO._______________ TIN NO._______________

ANACRES T. VARONA RICARDO MACAILING

FIRST PARTY SECOND PARTY
TIN NO. 151-508-809 TIN NO. 115-335-631