REPUBLIC OF THE PHILIPPINES )

Province of Pangasinan )  S.S.
City/Municipality of __________)

DEED OF QUIT CLAIM OF REAL PROPERTY

I ELPEDIO P. PIEDAD, of legal age, Filipino, and a resident of Bolinao,

Pangasinan, Philippines, after having been sworn to in accordance with law, do depose
and states that:
 

1. I together with Spouses Cesar and Lily Aucena both of legal age, Filipino, and
residents of Brgy. Unsad, Villasis, Pangasinan came to an agreement that I will buy their
eighteen (18) parcels of lot with a total land area of fourteen thousand eight hundred four
square meters (14,804 sq.m.) as contained in eighteen (18) Transfer Certificate of Titles
(TCTs) all registered under the name of Spouses Aucena and the same are located at Brgy
Unza, Villasis, Pangasinan. As agreed, the total amount of purchase price of said 18
parcels of land will be Fourteen Million Eight Hundred Four Thousand Pesos
(Php14,804,000.00) and it will be paid through INSTALLMENT BASIS;

2. On July 26, 2016, I handed to Spouses Aucena the initial/partial payment of

Two Million Five Hundred Thousand Pesos (Php2,500,000.00) which the same they have
acknowledged to have received the said amount in cash. A copy of Acknowledgement
Receipt is hereto attached and made an integral part of this Deed;

3. On August 2, 2016, I handed to Spouses Aucena additional partial/initial

payment of One Million Pesos (Php1,000,000.00) which the same they have acknowledged
to have received the said amount in cash. A copy of Acknowledgement Receipt is hereto
attached and made an integral part of this Deed;

4. That I have erected and build two (2) warehouse buildings on the
aforementioned parcels of lot for rental business purposes;

5. However, due to crisis and financial constraint, I was not able to deposit
additional payment for the conveyance of the said parcels of lot. On that note, I together
with spouses Aucena mutually agreed to rescind our Agreement and that they will give
back/reconvey all the initial/partial payments (Php3,500,000.00) that I have given to them
and in return, the two (2) warehouse buildings and other improvement therein will serve as
compensation for spouses Aucena;

5. For and in consideration of this mutual agreement, I do hereby WAIVE,

CONVEY, AND QUITCLAIM any and all of my rights, interests, and participation over
the above-mentioned parcels of lot including the two (2) warehouse buildings and other
improvement;

6. That I hereby affirm that I have executed this instrument out of my own free
will without force, intimidation or violence upon any person, in connection with the above-
mentioned parcels of lot.

IN WITNESS WHEREOF, I have hereunto set my hand this _____________ in

the City/Municipality of _____________, Philippines.

ELPEDIO P. PIEDAD
  Affiant
                      

SIGNED IN THE PRESENCE OF:

 __________________________ __________________________

ACKNOWLEDGMENT
Republic of the Philippines )
Province of Pangasinan ) S.S.
City/Municipality of_________ )
x----------------------------------------------x

BEFORE ME, NOTARY PUBLIC for and in the Province of Pangasinan,

personally appeared Mr. Elpedio P Piedad who have satisfactorily proven to me his
identification.

That he is same person who executed and voluntary signed the foregoing deed,
which he has acknowledged before me as his own free and voluntary act and deed.

This instrument, consisting of two (2) pages, including the page on which this
acknowledgment is written, has been signed on the margin on each and every page
thereof by the affiant and his instrumental witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND OFFICIAL SEAL this _____ day of

________________, at ______________, Pangasinan, Philippines.