ACKNOWLEDGMENT RECEIPT

I, GINA BRAVO-LAURIE (vendee), Filipino, of legal age, married, and resident of Brgy.
Baroro, Bacnotan, La Union, do hereby acknowledges the receipt of the sum of FIVE HUNDRED
THOUSAND PESOS (Php 500,000.00) Philippine currency, in hand paid to my full satisfaction
by EDUARDO AREOLA (vendor), Filipino, of legal age, married, and residing at Brgy.
Calincamasan, San Juan, La Union, as payment in full for the balance relative to the AGREEMENT
OF MUTUAL RESCISSION entered into between herein parties anent a contract of Conditional
Deed of Sale (duly notarized on September 8, 2020 by Gloria Catbagan on , Notary Public for the
City of San Fernando, La Union, entered in her notarial register as Doc. No. 105; Page No. 22;
Book No. II; and Series of 2020.
Agreement of Mutual Rescission
“Xxx.
WHEREAS, the first party (vendor) desires to return the advance payment for the purchase of his parcel of
land situated in Calincamasan, Municipality of San Juan, Province of La Union Philippines, covered by
Katibayan ng Orihinal na Titulo Blg. 025-CARP2018000347, made by the second party (vendee) on September
8, 2020 in the amount ONE MILLION FIVE HUNDRED THOUSAND PESOS (Php 1,500,000.00) in the
following manner, to wit::
A) ONE MILLION PESOS (Php1,000,000.00) shall be paid upon signing and execution of this agreement;
B) FIVE HUNDRED THOUSAND PESOS (Php 500,000.00) shall be paid on or before October 1, 2021 . .
.;
And the second party (vendee) shall return to the first party (vendor) the Katibayan ng Orihinal na Titulo
Blg. 025-CARP2018000347 upon payment of the full amount of the ONE MILLION FIVE HUNDRED
THOUSAND PESOS (Php 1,500,000.00) or upon cancellation of Mortgage Contract.
WHEREFORE, in consideration of the mutual covenant of these parties, the parties hereby rescind the
above mentioned contract of Conditional Deed of Sale executed by both parties on September 8, 2020 effective
as of the day written below.
Xxx.”

That by virtue of this Acknowledgment Receipt, Gina Bravo-Laurie (vendee) acknowledges to

have received the full amount of ONE MILLION FIVE HUNDRED THOUSAND PESOS (Php
1,500,000.00) inclusive of this payment as stipulated in the Agreement of Mutual Rescission from
Eduardo Areola (vendor), and that the former returns to the latter, who acknowledges to have
received from the former the Katibayan ng Orihinal na Titulo Blg. 025-CARP2018000347 in
fulfillment of their Agreement.

IN WITNESS WHEREOF, we have hereunto set our hands this___day of

____________________________ 2020 at San Juan, La Union, Philippines.

GINA BRAVO-LAURIE EDUARDO AREOLA

Vendee Vendor
_______________________________ _______________________________
SIGNED IN THE PRESENCE OF:
1. ____________________________ 2. ____________________________

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF LA UNION ) S.S.
MUNICIPALITY OF SAN JUAN )
SUBSCRIBED AND SWORN to before me this ___day of _________________2020 at San
Juan, La Union Philippines