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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
3rd 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 :


MARIA REMEDIOS L. BELLO PAULFRED
TOMBALI
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