DACION EN PAGO AGREEMENT Ths Dacion En Pago Agreement ("Dacion’) is made and executed by and between: JUAN DELA CRUZ, of legal age, Filipino, married to Juana Dela Cruz, with fesidence address at 123 Sentol St, Quezon City (Vender’); ~and- ALEX SANTOS, of legal age, Filpho married to ALEXA SANTOS, with residence address at 456 Alis St, Marikina City (“Vendee"); WITNESSETH: That- WHEREAS, the Vendor is the registered owner of 2 certain motor vehicle, more particularly desorbed as follows (‘Motor Vehicle’): MAKE : NISSAN ‘MODEL 2000) ‘SERIES FRONTIER TYPE PICK-UP ‘SERIAL NO. 123456789 MOTOR NO. ‘759654123, PLATE NO. : CAR423 MV FILENO. : 123656 covered by Certificate of Registration No. 456 issued by Land Transpattation Office East Ave. ‘Quezon City and Official Receipt No. 987 dated January 1, 1987, copies of which are hereto altached as Annexes ‘A’ and “B” WHEREAS, tho Vondor is indobtod to tho Vendeo in tho amount of THREE HUNDRED THOUSAND PESOS (Php300,000.00) (“Obligation”); WHEREAS, the Vendor is wiling to settle his Obligation to the Vendee but is not liquid to do 80; WHEREAS, the Vendor proposed to convey by way of dacion en pago, his Motor Vehicle to the Vendee as full and complete settiement of his Obligation, and the Vendee hereby accepts the NOW THEREFORE, for and in consideration of the foregoing premises, the Vendor hereby SELLS. TRANSFERS and CONVEYS. by way of DACION EN PAGO/ DATION IN PAYMENT. unto the Vendee, his heire and assigns, the above-described Motor Vehiole, ae well 26 its ‘cozescries and secessions, valued at THREE HUNDRED THOUSAND PESOS {(Phyp300,000.00), free from any and all iens, encumbrances and taxes. ‘The Vendor further warrants his ownership over the above-described Motor Vehicte and shall defend the Vendee from any and all clzinis and causes of acton in connection with or arising from this transacton IN WITNESS WHEREOF, wwe have hereunto set our hands this at JUAN DELA CRUZ. ALEX SANTOS Vendor Vendee