MEMORANDUM OF AGREEMENT

KNOW TO ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and executed by and

between:

THE HEIRS OF RUDOLFO DUGANGAY, namely: CARIDAD , Filipino,

of legal age, and a resident of Brgy. 3, San Francisco, Agusan
del Sur, herein called the First Party ; and

WILLIE S. BAUTISTA, Filipino, of legal age and a resident of

Karaos, San Francisco, Agusan del Sur, hereinafter referred to as
the SECOND PARTY ;

WITNESSETH:

WHEREAS, the SECOND PARTY is an owner of two parcels of

land, covered by Transfer Certificate of Title Nos. T-22036 and
T-22037 ;

WHEREAS, the SECOND PARTY is in need of an amount for a

certain project ;

WHEREAS, the FIRST PARTY is willing to lend that amount to

the SECOND PARTY, provided that a guarantee will be posted ;

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

the parties hereby agree to the following terms and conditions
stipulated hereunder :

1. That the SECOND PARTY pledges to the FIRST PARTY, the

titles mentioned above ;

2. That the FIRST PARTY shall in return give Two Hundred

Thousand (P200,000.00) Pesos to the SECOND PARTY, with an
interest of 15% per month ;

3. That likewise, a post dated check shall be issued by the

SECOND PARTY, in the amount of Two Hundred Thirty
Thousand (P230,000.00) Pesos, which is inclusive of the
15% interest for one month ;

4. That in the event that the obligation will be settled

within 15 days, the FIRST PARTY agrees to lower the
interest from the original 15% ;
 5. That the parties shall observe good faith and fidelity in
the performance of their respective duties and
obligation.

IN WITNESS WHEREOF, the parties have hereunto affixed their

hands this 12th day of November 2012, in San Francisco, Agusan
del Sur, Philippines.

EDELYN S. MONTERDE WILLIE S. BAUTISTA

(First Party) (Second Party)

Signed in the presence of :

____________________ _____________________

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF AGUSAN DEL SUR )SS
MUNICIPALITY OF SAN FRANCISCO )

ACKNOWLEDGMENT

BEFORE ME, this 25th day of September 2012 at San Francisco,

Agusan del Sur, personally appeared the above-named persons
represented to me to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same
are their free act and deed.

This document consisting of two (2) pages including this

page has been signed by the parties and their witnesses at the
left margin of each and every page hereof.

WITNESS MY HAND SEAL, the day, year and place above-

mentioned.

LEON O. MONTILLA, JR.

(Notary Public)
Until December 31, 2013
IBP Lifetime No. 03110
Doc. No. PTR No. 4178655 on 1-4-12
Page No. at Agusan del Sur
Book No. 123
Series of 2012