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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:


This MEMORANDUM OF AGREEMENT is made and entered
into this 28 day of September 2015 by and among:
CATALINA F. VILLAMARIN, of legal age, Filipino,
married, and a resident of No. 14-A Isadora Hills,
Brgy. Holy Spirit, Quezon City (hereinafter referred to
as the FIRST PARTY);
-andJASMIN M. CARIM, of legal age, Filipino, married
and currently residing at Zone 7 Bulua, Cagayan de
Oro City (hereinafter referred to as the SECOND
PARTY).
WITNESSETH: That --WHEREAS, the FIRST PARTY is the owner of the lot situated
at No. 18 BF Road Brgy. Holy Spirit, Quezon City;
WHEREAS, the FIRST PARTY is intending to assign her share
to the monthly rentals worth Seventeen Thousand Pesos (Php
17,000.00)
on
the
commercial
unit
located
on
the
abovementioned property;
WHEREAS the SECOND PARTY will extend a loan to the
FIRST PARTY on the amount of ONE HUNDRED FIFTY THOUSAND
PESOS (Php 150,000.00);
WHEREAS the SECOND PARTY will exercise all the rights
available as a lessor with regard to the abovementioned
property;
WHEREAS, this agreement shall be effective on 31 October
2015 until 31 October 2017;
WHEREAS, upon the expiration of this agreement, the
FIRST PARTY is obliged to return the loan amount extended by

the SECOND PARTY in the amount of ONE HUNDRED FIFTY


THOUSAND PESOS (Php 150,000.00);
NOW THEREFORE, for and in consideration of the foregoing
premises, the above-named parties hereby agrees to the
following:
a.

The FIRST PARTY shall assign her right to the monthly


rentals worth Seventeen Thousand Pesos (Php. 17,000.00)
on the commercial property situated at No. 18 BF Road,
Brgy. Holy Spirit, Quezon City;

b. The SECOND PARTY shall exercise the rights as a lessor


until 31 October 2017;
c. The FIRST PARTY shall return the loaned amount worth ONE
HUNDRED FIFTY THOUSAND PESOS (Php 150,000.00) to
the SECOND PARTY upon the expiration of this agreement.
IN WITNESS WHEREOF, we have hereunto set our hands
this 28 day of September 2015 in Quezon City, Metro Manila.

_____________________ _______________________
Catalina F. Villamarin
Jasmin M. Carim

Signed in the Presence of:


________________________

_______________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
QUEZON CITY

) S.S.

BEFORE ME, a Notary Public, for and in Quezon City, this


September 2015, personally appeared:

CATALINA F. VILLMARIN
JASMIN F. CARIM

ID No.
Senior ID No.
15130-M
Drivers
License
No.

Issued on
23 Sept 2015
23 Jan 2013

28 th day of

Expires on

18 Jan 2016

M02-01056781
known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me the same to be their free and voluntary act and
deed.
WITNESS MY HAND AND SEAL, this 28 th day of September at Quezon City,
Philippines.

NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 2015.