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DEED OF ABSOLUTE SALE OF A FRANCHISE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF ABSOLUTE SALE OF A FRANCHISE, made and executed by


and between:
RICHARD DALE V. ESCOLANO, single, of legal age, Filipino citizen, with
residence and postal address at PA-379 Wangal, La Trinidad, Benguet, Philippines,
hereinafter referred to as the VENDOR;
- and-

BENNY BESTRE DANGPAYAN , single, of legal age, Filipino citizen, with


residence and postal address at Upper Burgos, Baguio City, Philippines, hereinafter
referred to as the VENDEE;
W I T N E S S E T H:

WHEREAS, the VENDOR is the lawful owner of a Certificate of Public


convenience to Operate a Taxi Service issued by the Land Transportation Franchising
and Regulatory Board, Cordillera Administrative Region, Baguio City under case No.
2003-CAR-172;
WHEREAS, for and in consideration of the sum of ONE HUNDRED THOUSAND
PESOS (Php100,000.00), Philippine Currency, to me in hand and the receipt whereof is
hereby acknowledged from the VENDEE to my entire satisfaction does by these present
sell, transfer and convey, in favor of the VENDEE his heirs and assigns the above
mentioned Franchise free and clear of all liens and encumbrances.

WHEREAS, the VENDOR hereby warrants good and clean ownership over that
Franchise and that his rights, interests and participation over it has not been previously
alienated, sold nor transferred to any third party, whomsoever;

FINALLY, that the VENDOR shall defend the possession and ownership of the
above- mentioned Franchise of the VENDEE, against any possible claim of ownership
by any third party and adverse claimants.
That the VENDOR is executing this deed of sale freely and voluntary and for all
legal intents and purposes that it may serve.
IN WITNESS WHEREOF, the PARTIES have hereunto set their hands this 3 rd
day of March 2011, in the City of Baguio, Philippines.
RICHARD DALE V. ESCOLANO BENNY BESTRE
DANGPAYAN
Vendor Vendee
CTC No. 02142011 CTC No. 04161988
Issued on 01/14/2011 Issued on 01/19/2011
Issued at La Trinidad, Benguet Issued at Baguio City

SIGNED IN THE PRESENCE OF :


TOMBALI MARIA REMEDIOS L. BELLO PAULFRED
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES }


DONE: IN THE CITY OF BAGUIO } S.S.
X ======================= X

BEFORE ME, a Notary Public in and for the City of Baguio, this 3 rd day of March
2011, personally appeared RICHARD DALE V. ESCOLANO and BENNY BESTRE
DANGPAYAN, personally known to me to be the same persons who voluntary executed
the foregoing Deed of Absolute Sale of Franchise which they acknowledged before me
as their free and voluntary acts and deeds.
This instrument consisting of TWO (2) pages, including the page on which this
acknowledgment is written has been signed on the left margin of each and every page
thereof by the parties and their witnesses.
WITNESS MY HAND AND SEAL.

LIYA ORTEGA-RODRIGUEZ
Notary Public
Until December 31, 2012
Doc. No. __30_; PTR No. 050183/Baguio City/01-
11-11
Page No. _6__; Roll of Atty. No.
8121983
Book No. I ; IBP Lifetime Membership No.
9031984 Series of 2011. Baguio-
Benguet