CONTRACT OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Agreement made and entered this ____ day of May 2017, by and between:

SERGIO L. RIVERA, JR., of legal age, Filipino, married, with postal address
at__________________________________________, and herein referred to as the
FIRST PARTY.

AND

JASON LIM, of legal age, Filipino, married, with postal address at

____________________________________________, and hereinafter referred to as the
SECOND PARTY.

WITNESSETH: THAT

WHEREAS the First Party and the Second Party were formerly associated in a co-venture
involving one of the projects undertaken by the construction company JSVR
CONSTRUCTION, particularly the one entitled: “C-6 road Napindan to M.L. Quezon, (bike
lane and turn-out), Phase II, Taguig City”;

WHEREAS as a result of partition of the coventurers in the aforementioned project, the First
Party and the Second Party have come to an agreement wherein the former will return the latter’s
monetary capital contribution to the said project, with the amount of EIGHT HUNDRED
TWENTY THOUSAND PESOS (P 820,000.00);

WHEREAS in addition to the money contributed by the Second Party, the First Party has also
agreed to give an additional amount of money, particularly, TWO HUNDRED EIGHTY
THOUSAND PESOS (P280,000.00) as interest to the above-mentioned principal amount of
contribution;

WHEREAS the aforementioned amount of money shall be payable by the First Party starting on
May 15, 2017 up to July 15, 2017, through the issuance of checks payable to the Second Party
within the said stipulated period of time, or anytime thereafter, which shall serve as a security for
the latter to receive the amount necessary for the execution of this agreement;

WHEREAS in addition to the preceding terms of agreement, the First Party also agrees to give
an additional 5% of the remaining unsettled amount of money, if there be any, for every month
of default for its payment until the entire remaining balance be settled.

NOW, THEREFORE, in consideration of the foregoing premises, the parties hereby

unconditionally execute this contract of agreement in order to smoothly facilitate the parting of
both the first and the second party as coventurers.

IN WITNESS WHEREOF, the parties have hereunto signed this CONTRACT OF

AGREEMENT this _____ day of ____________ 2017 at the date and place first above
mentioned.

SERGIO L. RIVERA, JR. JASON LIM         

First Party Second Party

Signed in the presence of:

_______________________      __________________________
 
ACKNOWLEDGEMENT

Republic of the Philippines)

Makati City, Metro Manila  ) S.S.
 

BEFORE ME, a Notary Public for and in _______________________, personally appeared:

 Name                CTC No.                   Place                      Date

1
.
2. 

known to me to be the same persons who executed the foregoing document of CONTRACT OF
AGREEMENT and they acknowledged to me that they executed the same as their free and
voluntary act and deed.

I HEREBY CERTIFY that the foregoing document consists of two (2) pages including this page.

IN WITNESS WHEREOF, I have hereunto set may hand and affixed my notarial seal this ____
day of ____________ 2017.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2017.