MEMORANDUM OF AGREEMENT

This Agreement is entered into this ___ day of ________, 2019, by and between:

________________________, Filipino, of legal age, and a

resident of _____________________________________,
(hereinafter referred to as the “Seller”);

-and-

________________________, Filipino, of legal age, and a

resident of _________________________________,
(hereinafter referred to as the “Principal”).

RECITALS:

WHEREAS, the Principal owns a certain parcel of land situated in

________________________, covered by Transfer Certificate of Title No.
_________________, more particularly described as follows –

(State Technical Description as indicated on TCT)

WHEREAS, the Seller previously paid the amount of ____________

PESOS (P xxxxx.00) for the aforesaid property to the Principal to purchase the
property;

WHEREAS, the said purchase by the Seller of the property was later
mutually rescinded by the parties;

WHEREAS, that in order for the Seller to be reimbursed the amount of

__________ PESOS (P xxxx.00) she paid to the Principal, the parties agreed that
the Seller will sell the property to another buyer for which the Principal executed a
Special Power of Attorney (SPA) dated _________ in favor of the Seller;

WHEREFORE, for and in consideration of the foregoing, the parties

hereunto agree as follows –

1. The Seller shall have the exclusive right to offer and sell, for a period
of three (3) months reckoned from the date of this Agreement, the aforesaid
property of the Principal located in ________________________,, at the rate of
________________________, Pesos (P ____.00) per square meter pursuant to
the aforementioned Special Power of Attorney dated __________.
 Memorandum of Agreement
Page 2 of 3
________

2. The Seller shall have the right to deduct from the proceeds of the
sale the amount of ____________ PESOS (P xxxxx.00) she gave as payment to
the Principal pursuant to their now rescinded purchase agreement, while the
remaining balance of the proceeds shall be given by the Seller to the Principal.

3. In case the property remains unsold at the end of the three-month

period given to the Seller, the parties may mutually extend this agreement in
writing. In any event, the Principal shall continue to be liable to return the above-
mentioned amount given by the Seller to her should the same remain unpaid to
the Seller.

4. The failure of a party to insist in any one or more instances upon a

strict performance of any of the terms, provisions, conditions and covenants of
this Agreement, or to exercise any option herein contained, shall not be deemed
a relinquishment or waiver of any rights or remedy that the said party may have,
nor shall it be construed as a condonation of any subsequent breach of the terms
and conditions and covenants hereof, which conditions and covenants shall
continue to be in full force and effect. No waiver by a Party of any of her rights
shall be deemed to have been made unless expressed in writing.

5. This Memorandum of Agreement shall be governed and construed

according the laws of the Republic of the Philippines. The Parties shall exhaust
all means to amicably settle any dispute, should any arise. The Parties further
agree that the venue of any legal action shall be in the competent courts of
________________________, to the exclusion of all other venues.

6. This Agreement shall be binding upon the parties, their executors

and assigns.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
___th day of February, 2019 in __________________, Philippines.

SELLER: PRINCIPAL:

_____________________ _____________________
( state full name) (state full name)

WITNESSES:

_______________________ _______________________
 Memorandum of Agreement
Page 3 of 3
________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES }

CITY OF ____________________ } S.S.

BEFORE ME, this __th day of February, 2019, the following persons
personally appeared:
Valid Identification Valid Until

_________________ Passport No. __________ ___________

_________________ ___________________ __________

known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their own, free, and voluntary act and deed.

This instrument, which refers to a Memorandum of Agreement consisting of three

(3) pages including this page where this Acknowledgement is written, has been
signed by the parties hereto and their witnesses on each and every page hereof.

WITNESS MY HAND AND SEAL, at the place and on the date first above written.

NOTARY PUBLIC

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2019.