PAYMENT REFUND AGREEMENT

KNOW ALL MEN BY THESE PRESENTS

This agreement is entered into by and between:

DINDO JAY C. LAO, of legal age, married, Filipino, and a resident of

_________________________Philippines hereinafter referred to as FIRST PARTY;
And
CARLITO DUBLAN, of legal age, Filipino, married and an authorized
representative of Primeland Properties Incorporated with office address at
_________________________, Philippines hereinafter referred to as SECOND PARTY;

WITNESSETH:

That the FIRST PARTY, has entered into an agreement last _____________ with
the SECOND PARTY for the purchase of a house and lot specifically Waling-waling
Model under the Las Casas Elena Project of Primeland Properties Incorporated located at
San Jose, Digos City, Davao del Sur with an area of 52 square meters, more or less and
with a total consideration or package price of Php2, 220, 000.00 as per computation sheet
hereto attached as Annex “A”;

That the SECOND PARTY promised to deliver the subject house and lot on or
before ____________________________;

That by reason thereof, the FIRST PARTY was required by the SECOND
PARTY to pay an equity in the amount of Php444, 000.00 less Php15, 000.00
representing the reservation fee payable in 36 months without interest in the amount of
_____________________________ per month;

That the FIRST PARTY has been paying the above-mentioned equity for 24
months from January 2020 to December 2021 amounting to P286, 000.08;

That however, up until now, April 3, 2022, the SECOND PARTY has not yet
delivered the subject house and lot to the FIRST PARTY and in view thereof, the Parties
hereby agrees to rescind the contract of purchase and the SECOND PARTY to refund the
equity paid by the FIRST PARTY in full amount within thirty (30) months from
___________ in the amount of P9, 550.00 payable every __________ of the month;

That the above-mentioned amount to be refunded shall be paid in cash or to be

deposited by the SECOND PARTY to the FIRST PARTY’s bank account specifically
Rizal Commercial Banking Corporation (RCBC) with number 1-517-489-472;

That the SECOND PARTY’s default in payment of the refund amount as hereto
agreed by both parties, will give rise to the FIRST PARTY’s cause of action and claims
which he has or could have raised against the SECOND PARTY in relation to the above-
mentioned transaction including the interests/damages, if any, and both parties hereto
promise to abide by the terms and conditions herein stated and agreed upon.
 Any and all agreements made prior to this instant compromise is hereby
superseded and waived; further, the foregoing settlement is not contrary to law, customs
or public policy.

IN WITNESS WHEREOF, I have hereunto affixed our signatures this ___ day of
______ in ________________, Philippines.

First Party Second Party

DINDO JAY C. LAO CARLITO DUBLAN

______ID No.__________ ______ID No.__________

SIGNED IN THE PRESENCE OF

___________________ __________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

__________________________ ) S.S
X-----------------------------------------------X

BEFORE ME, this ______day of ______________ in _________________,

Philippines, personally appeared the above-mentioned parties with their ID No. indicated
below their names as shown above, known to me and to me known to be the same
persons who executed the foregoing instrument and they acknowledged to me that the
same is their free acts and deeds.

WITNESS MY HAND AND OFFICIAL SEAL, on the date and at the place
above-mentioned.

DOC. NO. _________;

PAGE NO. _________;
BOOK NO. ________;
SERIES OF ________.