AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT is made and executed by and between:

LOTES B. DURAN, of legal age, Filipino, married to Julius Duran and a resident
of Barangay Dao, Pagadian City, hereafter called as the FIRST PARTY;

HONEYBEE C. MAGHANOY, of legal age, Filipino, married to Ramil M.

Maghanoy and a resident of Barangay Dao, Pagadian City, hereafter called as the
SECOND PARTY;

WITNESSETH:

That the FIRST PARTY as VENDOR is the lawful owner of a parcel of land
covered by Transfer Certificate of Title No. T-33,534 located at Dao, Pagadian City
consisting of TWO HUNDRED FOUR (204) square meters including the house and
improvements built on it;

That the FIRST PARTY has an arrears of Two Hundred Fifty Eight Thousand
Pesos (Php258,000.00) at PAG-IBIG Office of the lot described above to the SECOND
PARTY ;

That the FIRST PARTY will pay to the PAG-IBIG Office today amounting to
ONE HUNDRED TWENTY THOUSAND PESOS (Php120,000.00) ;

That the remaining ONE HUNDRED THIRTY EIGHT THOUSAND PESOS

(Php138,000.00) the SECOND PARTY will pay to the PAG-IBIG Office thru monthly
installment basis in the amount of THIRTY THOUSAND PESOS (Php30,000.00) until
the arrears be fully paid;

That the FIRST PARTY and the SECOND PARTY will abide the lease and
condition above written.

N WITNESS WHEREOF, parties have hereunto set their hands this ______
day of _________, ________ at Pagadian City, Philippines.

LOTES B. DURAN HONEYBEE MAGHANOY

First Party/Vendor Second Party/Vendee
_________________ ______________________
_________________ ______________________
 _________________ ______________________

SIGNED IN THE PRESENCE OF:

1. ____________________ 2. __________________

Republic of the Philippines)

City of Pagadian ……………)S.S.
x-------------------------------------/

ACKNOWLEDGMENT

BEFORE ME, this ___ day of ____________, in Pagadian City, Zamboanga del
Sur, Philippines, personally appeared the above named persons, vendor, vendee and
their witnesses known to me to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free act and voluntary deed.

IN WITNESS WHEREOF, I have hereunto set my hand and have affixed my

Notarial Seal on the date and place above-written.