MEMORANDUM OF AGREEMENT

This Agreement made and executed by and between:

RON DE MESA BOLINA and ROMMEL MEDINA ABUZO, is

engaged in buying of scrap metals with address at Tambis Street, Brgy.
Tiza Roxas City, Chester Street Villa Leonica Brgy. Sto. Domingo Angeles
City Pampanga Philippines, respectively, and represented in this act by
RON DE MESA BOLINA, herein referred to as the “TRUSTEE BUYER”.

- and -

CARMEN L. TOLENTINO, with address at Iba, Zambales,

Philippines, herein referred to as the “SELLER”;

CRISTINA B. SINGSON, ARLENE SOCAL, CLYDE TABULOG,

and ALLAN TELLES herein referred to as “AGENT”;

WITNESSETH: That,

WHEREAS, the TRUSTEE BUYER has engaged to purchase a

Motor Vessel and a Tug Boat as Salvaged Scrap Metal;

WHEREAS, the SELLER engaged the services of the AGENT to

look for buyer for a Motor Vessel and a Tug Boat as Salvaged Scrap Metal;

WHEREAS, the AGENT engaged the services of the TRUSTEE

BUYER to purchase a Motor Vessel and a Tug Boat as Salvaged Scrap
Metal;

NOW, THEREFORE, in consideration of the mutual covenants and

agreement contained therein, the parties mutually agree as follows:

1. The TRUSTEE BUYER shall provide trucks and heavy equipment

intended for loading of salvaged scrap metals of Motor Vessel and Tug
Boat specifically for the demands of the SELLER and to be;

2. The Memorandum of Agreement shall be effective for a period of

ONE (1) YEAR beginning on JULY 11, 2022 to JULY 11, 2023. However,
the AGENT SELLER reserves the right to pre-terminate this
Memorandums of Agreement for any cause prejudicial to SELLER and
AGENT, subject to written notice to the TRUSTEE BUYER;

3. The TRUSTEE BUYER will pay Sixteen Million Pesos Only

(₱16,000,000.00) to the SELLER upon total completion of loading for the
salvaged scrap metal of Motor Vessel and Tug Boat;
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 4. The TRUSTEE BUYER is obligated to pay the SELLER for the
purchase of the Salvaged Motor Vessel and Tug Boat, weighing of an
estimated 1,371 Metric Tons for Eleven Pesos and Seventy Cents Only
(₱11.70) per KILO, ON A PER-TRIP BASIS. The TRUSTEE BUYER shall
exercise ordinary diligence in performing its obligations. In case of any
unfinished work of the TRUSTEE BUYER, the TRUSTEE BUYER shall
bear the remaining dues in total completion of the Agreement;

5. For and in consideration of the full, faithful and complete

performance of the obligations of this Memorandum of Agreement by the
SELLER, the TRUSTEE BUYER shall pay ON A PER-TRIP BASIS, with
due consideration of the distance of the location, time and other necessary
expenses. The TRUSTEE BUYER shall pay the SELLER and the SELLER
shall give the AGENT its due Commission for the said sale amounting to
Two Million Pesos Only (₱2,000,000) on the agreed date and time;

6. This agreement shall be binding upon the parties as well as upon

their respective assigns or representatives.

IN WITNESS WHEREOF, we have hereunto set our hands this

__________________ at _______________, Philippines.

Represented by:

RON DE MESA BOLINA ROMMEL MEDINA ABUZO

TRUSTEE BUYER TRUSTEE BUYER

Gov’t Issued ID: Gov’t Issued ID:

_____________________ _____________________

Represented by:
CARMEN L. TOLENTINO
SELLER
Gov’t Issued ID ______________________

SIGNED IN THE PRESENCE OF:

CRISTINA B. SINGSON ARLENE SOCAL

CLYDE TABULOG ALLAN TELLES

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REPUBLIC OF THE PHILIPPINES)
ROXAS CITY ) S.S
X-------------------------X

BEFORE ME this _______________ at ________________, Philippines,

personally appeared the following persons all known to me to be the same
persons who executed the foregoing instrument and they acknowledged to
me that the same are their free and voluntary act and deed.

WITNESS MY HAND AND SEAL, on the date and place above stated.