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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This agreement made and executed this 12th

day of January 2014,in the City of

Cauayan,Isabela,Philippines,by and between :

of legal age,Filipino,and resident of hereinafter knwn as the

OWNER/SELLER

-AND-

------------------------------------,of legal ages,Filipinos and residents of

Isabela.hereinafter known as the BUYERS.

WITNESSETH:

WHEREAS, the SELLER is the owner of a parcel of land situated in Villarta Street, District 1,Cauayan

City,Isabela containing an area of Seven hundred Twenty Six (726) square meters.

WHEREAS , the OWNER,hereinafter intends and hereby agrees to sell to the buyers the Four Hundred

Twenty Six (426) square meters described parcel of land and the buyers hereby agrees to buy the same

at the amount of One thousand Eight Hundred (P1,800.00) per square meter.

NOW,THEREFORE, for and in consideration of the mutual covenants herein contained,the OWNER

hereby sells,transfer,and convey unto the purchasers,its successor-in-interest and assings,the above

described parcel of land upon the terms and conditions embodied herein.

1. PURCHASE PRICE : The buyers shall pay to the OWNER the amount of One thousand eightHundred (P 1,800.00) per square meter for the area each is occupying pursuant ot the total

amount of area hereinafter specified.

2. DOWNPAYMENT: The buyers shall pay to the Owner the sum equivalent to Three HundredThirty Six Thousand ( P 336,000.00)upon signing of this contract.

3. BALANCE OF CONSIDERATION :The balance of the consideration shall be paid on the followinga. The amount of Three Hundred thousand ( P 300,000.00) shall be given on or before Aug.2 1,

2014.

B. The Balance of the full consideration shall be paid on or before December 2014

4. EXECUTION OF DEED OF SALE : Upon receipt of the the full consideration ,the Owner shallexecute a Deed of Absolute Sale over the property subject of this agreement in favor of the

Buyers.

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5. RECORDING : The capital gains tax and the documentary stamps and all others expenses forthe registration of the Deed of Absolute Sale including transfer tax shall be for the account of

both the buyer and the seller.

6. REAL ESTATE TAXES : The payment of real estate taxes due after the execution of the Deed ofAbsolute sale and upon rendering the Transfer Certificate of Title (TCT) shall be born to the

buyers.

7. REPRESENTATIVE : The Owner of the described lot further grants MR. ROY VILLARTA fullpower to receive any considerations herein above stated.

8. BINDING NATURE: The covenants,terms,conditions,provisions and undertakings in thisagreement or any modifications,revisions threof shall extend to and be binding upon the

heir,executors,administrators of the Buyers as if they were in very case and expressed and shall

be construed as covenants running with the land.

In WITNESS WHEREOF, the parties have hereunto set their hands this 12th

day of January 2014.

OWNER BUYERS:

SIGNED IN THE PRESENCE OF :

ACKNOWLEDGEMENT :

Republic of the Philippines

Cauayan City, Isabela

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Before me a notary public for the cities and province of Isabela this ____ day of January 2014,

personally appeared the following person with their CTC nos.

Name ` CTC # Place/Date

Susana P. Rosal

IsabeloVillarta

Known to me to be the same person who executed the foregoing instrument and acknowledged

to me that the same is his own free act and voluntary deed.

WITNESS MY HAND AND NOTARIAL SEAL on the date and at the place first herein above.

Doc. No __________

Page No. __________

Book No. ___________

Series of 2014