MEMORANDUM OF AGREEMENT

This memorandum of Agreement is entered into this _______________ at _______________ by

and between:

BFCT Terminal, with office address at KM 1 Marcos Highway Calumpang, Marikina

City herein referred to as the “FIRST PARTY”

-and-

RGS Recovery Management and Collection Services, Inc. with office address at 4th
Floor Anonas LRT City Center, No. 968 Aurora Blvd. Project 4, Quezon City herein referred to
as “SECOND PARTY”

WHEREAS, the FIRST PARTY owns a parcel of land with a warehouse structure located
at Brgy. Calumpang Marcos Highway, Marikina City.

WHEREAS, the SECOND PARTY wishes to utilize the available warehouse space under
a dry run arrangements hereinafter contained, the parties hereby agree as follows:

1. TERM

The term of the Agreement shall be for a period of Forty Five (45) days from
November 16, 2019 to December 31, 2019 amounting to Fifty Seven Thousand Seven
Hundred Eighty Pesos (57,780.00) net of all taxes.

2. PURPOSE

The warehouse/space will be utilized as storage of repossessed vehicles of the

second party.

The second party shall deploy security personnel to secure its assets/stored
vehicles and first party is not liable for any losses whatsoever.

3. CONSIDERATION

Tha