COLLATERAL AGREEMENT

THIS AGREEMENT, made this 25th day of September 2023, by and between
EVELYN D. TAN of legal age, with postal address at 114 2ND ST. DOÑA CLARA
VILLAGE CONCEPCION PEQUEÑA, NAGA CITY, CAMARINER SUR hereinafter
known as the CREDITOR and MARIA ANTONETTE SHORT of legal age hereinafter
known as the DEBTOR with postal address at Lot-34, BLK-6, IMMACULATE HEART
OF MARY SUBDIVISION, CONCEPCION PEQUEÑA, NAGA CITY, CAMARINES
SUR, witnesseth:

That the DEBTOR is indebted unto the CREDITOR the sum of seventy nine
thousand five hundred pesos (P79,500.00) from late rental fees incurred by the
debtor at the apartment which the CREDITOR manages and shall be payable in a
period of ten (10) months at a rate of eight thousand pesos (P8,000.00) per month
until the sum of the debt is paid;

COLLATERAL

The DEBTOR agrees with no duress or intimidation to provide the CREDITOR

with full right and title of ownership to one (1) flat screen TV with the brand of ACE and
a refrigerator to ensure the payment of the DEBTOR’S rental dues.

TERMS

1. The DEBTOR warrants that no other CREDITOR has right to ownership of the
listed collateral that may interfere with the CREDITOR’S ability to take and profit
from the sale of said property in the event that the listed debt is not repaid;

2. The DEBTOR warrants that they are the rightful legal owner of the listed
collaterals;

3. The DEBTOR agrees to notify the CREDITOR of any changes to their contact
information or physical address;

4. The DEBTOR agrees not to sell or transfer ownership of the property listed in this
collateral agreement until their debt due to unpaid rental dues to the CREDITOR
has been fully paid;

5. Should the DEBTOR default on the above listed debt, the CREDITOR shall have
the right to seize the listed collateral and resell it to recoup their lost investments;

6. This collateral agreement is a direct result of a mediation done in the barangay

hall of Concepcion Pequeña, Naga City, Camarines Sur and that both parties
agreed for this resolution in front of the barangay officials on September 22, 2023
around 10:00 AM;

7. That the DEBTOR fully recognizes that non compliance for even at least one (1)
month to the payment agreement will enact this collateral agreement along with
possible criminal charges as prescribed by law as already discussed in the
barangay mediation aforementioned.
 IN WITNESS WHEREOF, the parties here to have signed this Collateral Agreement
this ____________________________________ in the City of Naga, Philippines.

EVELYN D. TAN MARIA ANTONNETE SHORT

(CREDITOR) (DEBTOR)

SIGNED IN THE PRESENCE OF:

1.__________________________AND 2._________________________
WITNESS WITNESS