TRIPARTITE MEMORANDUM OF AGREEMENT

KNOW ALL MENBY THESE PRESENTS:

This Agreement, made and entered into among and between
THE LOCAL GOVERNMENT OF BARANGAY BANILAD, MANDAUE CITY a
local government unit existing under the Philippine Laws with address
at A.S. Fortuna Ave., Banilad, Mandaue City Philippines, and hereby
duly represented by its Punong Barangay HON. GREG B. YAP,
hereinafter referred to as BRGY. BANILAD.
THE LOCAL GOVERNMENT OF BARANGAY CANBBANCALAN, MANDAUE
CITY a local government unit existing under Philippine Laws with
address at M.. Quezon Ave, corner P. Remedio Street, Cabancalan,
Mandaue City, Philippines and hereby duly represented by the Punong
Barangay HON. YNTHA C. REMEDIO, hereinafter referred to as BRGY.
CABANALAN.
-

And-

PETALI INC., a domestic corpraton duly organized and existing under

Philippne Laws and with principal place of business at Nasipit,
Talamban Cebu City and hereby duly represented by its legal Counsel
ATTY. REINER P. PLINARO, hereinafter referred to as THE COMPANY.

WITNESSETH:
WHEREAS, BRGY. CABANCALAN and BRGY. BNLD both recognizes the
need for mesures to alleviate the rising wter level on the vicinity of the
declared protected area under Cty Ordinance No. 09-2002-125 located
at both Barangays Banilad and Cabancalan. Consequently, an
additional drainage system is a viable solution to the problem.
WHEREAS, THE COMPANY, the registered owner of vacant parcels of
land (Lot Nos. 432-A, 433-A, 433-B, and 433-C), situated at Barangay
Cabancalan and Barangay Banilad, Mandaue City, likewise recognize
the need for a drainage system to lower the water level of the declared
protected are by City Ordinance No. 09-2002-125;
WHEREAS, THE COMPANY, has planned to construct warehouse at its
properties, on the abovementioned parcels of land;

WHEREAS, the abovementioned parcels of and are classified as for tax

declaration of the City of Mandaue
WHEREAS, THE COMPANY requested from BRGY. BANILAD their
respective resolutions permitting the variance applied by THE
COMPANY and appropriate clearances as requirement for the issuance
of the building permit of the proposed construction of three (3)
warehouses;