COMPROMISE AGREEMENT

This Agreement executed this ____ day of ________, 2023 at

__________________, Philippines, by and between:

_______________________________, of legal ages, Filipinos, with

residence and postal address at now herein referred to as the
“FIRST PARTY”.

-And-

__________________________, of legal ages, Filipinos, with

residence and postal address, at _______________________, now
herein referred to as the “SECOND PARTY”.

W I T N E S S E T H: -That-

WHEREAS, the herein parties hereby previously entered an

agreement upon the request of the SECOND PARTY to borrow
money from the FIRST PARTY and entrust to the FORMER
monetary consideration for the sole purpose of instituting a small
lending business;

WHEREAS, due to the trust and confidence of the FIRST

PARTY to the SECOND PARTY, the requested amount of ONE
MILLION FIVE HUNDRED EIGHTY NINE THOUSAND PESOS (Php
1,589,000. 00) have been acknowledged and received by the
SECOND PARTY;

WHEREAS, the FIRST PARTY later found out upon inquiry

that the debtors already paid the SECOND PARTY but the LATER
misappropriated and converted the same for personal use causing
damage and prejudice to the FIRST PARTY;

WHEREAS, the parties desire to buy peace and wish to avoid

protracted litigation.

NOW THEREFORE, in consideration of the foregoing and the

further covenants hereinafter set forth, the parties agree as follows:

1. The FIRST PARTY shall be paid the sum of ONE MILLION

FIVE HUNDRED EIGHTY NINE THOUSAND PESOS (Php
1,589,000.00) in accordance with the following schedule:

a. Initial payment – ONE HUNDRED THOUSAND PESOS

(P100,000.00) shall be paid to the FIRST PARTY by the
SECOND PARTY on the 26th of the May 2023 and upon the
signing and due execution of this Compromise Agreement

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 b. The balance of ONE MILLION FOUR HUNDRED EIGHTY
NINE PESOS (P1,489,000.00) shall be paid by the SECOND
PARTY as follows:

a. Second and succeeding payments – FIFTY THOUSAND

PESOS (P50,000.00) every 26th of the month which will
commence in JULY 2023 until said balance is fully paid
and satisfied.

2. The SECOND PARTY knows and agrees that the said

amount of Php 1,589,000.00 will receive SIX (6) PERCENT
monthly interest, however in the event that the SECOND
PARTY pay amount from the capital above stated not less
than Php 50,000.00 monthly, then the interest will be
lowered therefrom;

3. The PNB ATM card of ________________________ wherein the

monthly payroll and other benefits is being credited by his
employer, CASURECO, is voluntarily surrendered to the
FIRST PARTY as collateral and the said interest will be
credited hereto;

4. Any violation of this compromise agreement shall lead to

criminal and administrative actions;

5. The foregoing covenants are not contrary to law, morals, or

public policy and the parties bind themselves to comply
strictly with their undertakings.

IN WITNESS WHEREOF we have hereunto set our hands this

____ day of ____________ 2023 at _____________________, Philippines.

Signed in the presence of:

__________________________ ________________________

ACKNOWLEDGEMENT

BEFORE ME, this ___day of __________ 2023 in the

city/municipality of __________________, appeared the following:

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 Names Government Issued ID# and
Place of Issue

respectively, known to me to be the same person who executed this

instrument, and they acknowledged to me that the same is their
free act and deed.

This instrument consisting of THREE (3) pages including the page

to which this acknowledgement is written, has been signed on the
left margin of each and every page thereof by the parties and sealed
with my notarial seal.

IN WITNESS HEREOF, I hereunto set my hand and my seal

this _____day of __________ 2023 in the municipality of
_________________

Doc. No. ___;

Page No. ___;
Book No. ____;
Series of 2023.

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