MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement (hereinafter referred to as “Agreement”) is

made and executed by and between:

URDANETA XENTROMART, INC., a corporation duly organized

and existing under the laws of the Republic of the Philippines, with
its principal place of business at Consejo St., Brgy. Poblacion,
Urdaneta City, Pangasinan, as represented by its General
Manager Mr. Gabriel M. Aguilar (hereinafter referred to as
“First Party”);

Spouses CONRADO B. PASION and LUDEVINA M. PASION,

both of legal age, husband and wife, Filipinos and residents of
Brgy. Minien East, Sta. Barbara, Pangasinan (hereinafter referred to
as “Second Party”);

RACQUEL CAOILE TORRES, married to Ericson Braga Torres, of

legal age, Filipina, and a resident of Brgy. San Jose, Urdaneta City,
Pangasinan, (hereinafter referred to as “Third Party”); and

JENNY BUSTAMANTE BARANY, married to Tamas Barany, of

legal age, Filipina, and a resident of No. 560, Brgy. Dilan Paurido,
Urdaneta City, Pangasinan, (hereinafter referred to as the “ Fourth
Party”).

They shall be referred to individually as “Party” and collectively as “Parties.”

~WITNESSETH~
WHEREAS, the First Party is the registered owner of a parcel of land,
registered with the Registry of Deeds of Lingayen, Pangasinan, more particularly
described as follows:

Transfer Certificate of Title

No. 026-2012001145

A PARCEL OF LAND (LOT 192-A, PSD-01-060987, BEING A

PORTION OF LOT 192, CAD. 3, URDANETA CADASTRE, L.R.C.
REC. NO.__) SITUATED IN THE BRGY. OF POBLACION, RURBAN
CODE NO. 015546, CITY OF URDANETA, PROV. OF
PANGASINAN, ISLAND OF LUZON. BOUNDED ON THE NW., ALONG
LINE 1-2 BY CALLE ARELLANO (10.00 M. WIDE); ON THE
NE., ALONG LINE 2-3 BY LOT 193, CAD. 3 URDANETA
CADASTRE; ON THE SE., ALONG LINE 3-4 BY IRRIGATION
DITCH; ON THE SW., ALONG LINE 4-5 BY LOT 192-B, PSD-
01-060987; ALONG LINE 5-6 BY LOT 192-C, PSD-01-060987,
ALONG LINE 6-7 BY LOT 192-D, PSD-01-060987; ALONG LINE
7-8 BY LOT 192-E, PSD-01-060987; ALONG LINE 8-1 BY LOT
192-F, PSD-01-060987. X X X CONTAINING AN AREA OF
THREE HUNDRED (300) SQUARE METERS, MORE OR LESS. X X X

Memorandum of Agreement

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 WHEREAS, the Second Party is the owner of a parcel of land, which was
sold to them by the heirs of the registered owner ONOFRE DAMASCO who died
intestate on 14 March 2020, whose heirs consolidated their ownership through
inheritance through a Deed of Extra Judicial Settlement of Estate registered as
Doc. No. 309, Page No. 63, Book XI, Series of 2013 of the notarial register of the
Notary Public Atty. Dar. A. Diga. The Land subject of said Deed was sold to the
Second Party by the heirs through a Deed of Absolute Sale dated 17 th June 2013,
which parcel of land is registered with the Registry of Deeds of Lingayen,
Pangasinan and said parcel of land is more particularly described as follows:

Transfer Certificate of Title

No. 297794

A parcel of land (Lot 192-B, Psd-01-060987, being a

portion of Lot 192, Cad. 3, Urdaneta Cadastre, L.R.C.
Rec. No. __), situated in the Brgy. Of Poblacion,
Rurban Code No. 015546, City of Urdaneta, Prov. of
Pangasinan, Island of Luzon. Bounded on the SE., along
line 1-2 by Irrigation Ditch; on the W., along line 2-
3 by Lot 191, Cad. 3., Urdaneta Cadastre; on the NW.,
along line 3-4 by Lot 192-C; on the NE., along line 4-
1 by Lot 192-A, both of the subd. Plan. X X X
Containing an Area of NINETY EIGHT (98) SQUARE METERS,
more or less X X X.

WHEREAS, the Third Party is the registered owner of a parcel of land,

registered with the Registry of Deeds of Lingayen, Pangasinan, more particularly
described as follows:

Transfer Certificate of Title

No. 026-2018005829

A PARCEL OF LAND (LOT 192-C, PSD-01-060987, BEING A

PORTION OF LOT 192, CAD. 3, URDANETA CADASTRE, L.R.C.
REC. NO.__) SITUATED IN THE BRGY. OF POBLACION, RURBAN
CODE NO. 015546, CITY OF URDANETA, PROV. OF
PANGASINAN, ISLAND OF LUZON. BOUNDED ON THE N., ALONG
LINE 4-1 BY LOT 192-D; ON THE NE., ALONG LINE 1-2 BY
LOT 192-A; ON THE S., ALONG LINE 2-3 BY LOT 192-B, ALL
OF THE SUBD. PLAN; ON THE W., ALONG LINE 3-4 BY LOT
191, CAD. 3, URDANETA CADASTRE. X X X CONTAINING AN
AREA OF NINETY EIGHT (98) SQUARE METERS, MORE OR LESS.
X X X

WHEREAS, the Fourth Party is the registered owner of a parcel of land

identified as Lot 192-D and Lot 192-E, registered with the Registry of Deeds of
Lingayen, Pangasinan under Transfer Certificate of Title No. 026-2021001253
and Transfer Certificate of Title No. 026-2021001254;

WHEREAS, in TCT No. 026-2012001145 covering Lot 192-A of the First

Party, a 3-meter wide perpetual right of way was constituted on its western
portion;

WHEREAS, the First Party constructed a wall at the western boundary of

its Lot 192-A;

Memorandum of Agreement

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 WHEREAS, in TCT No. 297794 covering Lot 192-B, a 3-meter wide
perpetual right of way was constituted on its eastern portion;

WHEREAS, in TCT No. 026-2018005829 covering Lot 192-C, a 3-meter

wide perpetual right of way was constituted on its eastern portion;

WHEREAS, in TCT No. 026-2021001253 covering Lot No. 192-D and in

TCT No. 026-2021001254 covering Lot No. 192-E, a 3-meter wide perpetual right
of way was constituted on its eastern portion;

WHEREAS, the Second, Third, and Fourth Parties wish to have access to
the three-meter right of way of the First Party;

WHEREAS, the First Party grants to the Second, Third, and Fourth access
to its right of way on its western portion of Lot 192-A, subject to the following
terms and conditions.

NOW THEREFORE, for and in consideration of the foregoing, the parties

hereby agree to the following terms and conditions:

TERMS AND CONDITIONS

1. Grant of Access and Use of Right of Way of First Party. - The
First Party shall demolish the wall that it has constructed on the western portion
of its Lot 192-A, adjacent to, and for the purpose of allowing, the Second, Third,
and Fourth Party to access the already existing right of way, subject to the
immediately succeeding conditions;

2. Payment by the Second Party. - In consideration of the

abovementioned grant of access and use of the First Party’s Right of Way, the
Second Party shall pay to the First Party a monthly sum of ONE THOUSAND
PESOS (PHP1,000.00) payable on or before the tenth day of every month;

3. Payment by the Third Party. - In consideration of the

abovementioned grant of access and use of the First Party’s Right of Way, the
Third Party shall pay to the First Party a monthly sum of ONE THOUSAND
PESOS (PHP1,000.00) payable on or before the tenth day of every month;

4. Payment by the Fourth Party. - In consideration of the

abovementioned grant of access and use of the First Party’s Right of Way, the
Fourth Party shall pay to the First Party a monthly sum of ONE THOUSAND
FIVE HUNDRED PESOS (PHP1,500.00) payable on or before the tenth day
of every month;

5. Fairness. – Each party has been given ample time to consider

entering this Agreement prior to the contemplated agreement and is competent
to sign the Agreement. This Agreement has been entered into voluntarily and
knowingly by each party and without fraud, force, duress, undue influence, or
any other act which would vitiate either party’s consent.

Memorandum of Agreement

Page 3 of 5
 6. Necessary Documents. – Each party shall, upon the request of the
other, or any third person with an appropriate interest, execute, acknowledge,
and deliver any instrument appropriate or necessary to carry into effect the
provisions and the intent of this Agreement.

7. Governing Law. – This Agreement shall be governed and

interpreted according to the laws of the Republic of the Philippines, regardless of
any domicile established by the parties hereto or either of them, at any time.

8. Amendments. – This Agreement may be amended only by a public

instrument in writing signed by both parties in the presence of two witnesses of
legal age and sufficient discretion and acknowledged by the parties.

9. Binding Effect. – This Agreement shall inure to the benefit of and

shall be binding upon the parties hereto and their respective legal
representatives, heirs, and assigns.

10. Separability Clause. – If any provision hereunder shall be declared

null and void, invalid, voidable, or unenforceable, the remaining provisions shall
remain in full force and effect.

11. Effectivity Clause. – This Agreement shall become effective upon

the execution of this Agreement by the parties.

NOW THEREFORE, for and in consideration of the foregoing terms and

conditions and of the consideration, due and payable as herein provided, the
parties herein agree, commit, and bind themselves to comply strictly, faithfully,
and in good faith with all the terms and conditions of this Agreement.

IN WITNESS WHEREOF, we hereunto set hands this ______ day of

_________ 2021, in the City of Urdaneta, Province of Pangasinan, Philippines.

URDANETA XENTROMART, INC.

First Party

Thru:

_____________________
GABRIEL M. AGUILAR
General Manager

____________________ _____________________
CONRADO B. PASION LUDEVINA M. PASION
Co-Second Party Co-Second Party

_________________________ ____________________________
RACQUEL CAOILE TORRES JENNY BUSTAMANTE BARANY
Third Party Fourth Party

Memorandum of Agreement

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 SIGNED IN THE PRESENCE OF:

_____________________________ _____________________________
Witness Witness

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public in the City of Urdaneta, personally appeared

the following persons, presenting to me as competent proofs of their identity, the
following:
Names ID Presented Valid Until
Gabriel M. Aguilar Driver’s License A02-09-003446 Until 2023/08/21
Conrado B. Pasion Driver’s License A05-91-024986 Until 2022/08/08
Ludevina M. Pasion Driver’s License A05-12-003848 Until 2023/04/20
Racquel C. Torres SSS ID No. 02-1688595-4
Jenny Bustamante Driver’s License A05-07-002796 Until 2021/12/04
Barany
known to me and to me known to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same is their free
and voluntary act and deed.

This instrument consists of five (5) pages including this page where this
acknowledgement is written, signed by the parties and their witnesses at the
left-hand margins.

IN WITNESS WHEREOF, I hereunto set my hand and affixed my

notarial seal on ___________________ in _______________________.

Doc No.: ____

Page No.: ____
Book No.: ____
Series of 2021.

Memorandum of Agreement

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