ADDENDUM

(TO THE COMPROMISE AGREEMENT

DATED 14 OCTOBER 2016)

This Addendum to the “Compromise Agreement dated 14 October

2016” executed this _____ day of February, 2017 at __________,
(“Addendum”)by and between:

NESTORIO A. LIM, JR.   , Filipino, of legal age with

address at 83, C.V. Starr Ave., Pamplona Tres, Las Pinas
City represented herein by Mark M. Lim, hereinafter
referred to as “the First Party”;

-and-

SOLCHEM PHILS., INC., Filipino, of legal age with

address at 26, Impex Compound, Las Pinas City,
represented herein by Edwin O, Afzelius, Jr., hereinafter
referred to as “the Second Party”.

WITNESSETH:  That –

WHEREAS, the First Party is the Plaintiff in Civil Case No. 8320,
entitled "Nestorio A. Lim, Jr. versus Edwin O. Afzelius, Jr." pending in the
Metropolitan Trial Court (“MTC”) of Las Pinas City, Branch 79 (Civil Case
No. 8320), hereinafter referred to as the "Pending Case";

WHEREAS the Second Party is the real defendant in said Pending

Case;

WHEREAS, all the parties are desirous of settling amicably the

Pending Case, which has been pending before the MTC, and thereby put to
rest a long and costly litigation;

WHEREAS, a Compromise Agreement was entered into by the

Parties on 14 October 2016 (“Compromise Agreement”).

WHEREAS, due to the time constraints with respect to the

dismantling and transfer of the heavy equipment affixed to the premises
subject of the case, additional time is needed to effect the full dismantling
and transfer thereof to the new location;

WHEREAS, the First Party is amenable to granting additional time

for the Second Party to vacate the subject premises under certain terms and
conditions as will be stated below;

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

parties hereby undertake to amend the Compromise Agreement as follows:

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 1. Section 5 shall be amended to reflect the extension of until 10
April 2017, or the period within which the Second Party shall vacate the
subject premises as follows:

“5. Upon delivery of the initial payment to the First Party, the
First Party shall allow the Second Party to occupy the leased
premises until 10 April 2017. Thereafter, the Second Party shall
voluntarily and immediately vacate the leased premises. In the
event that the Second Party unjustifiably fails to immediately
vacate the leases premises upon the lapse of the extension, the
First Party shall have the right to padlock the leased premises
and to prevent the Second Party or any of its agents or other
parties connected with or related to the Second Party form
entering the Leased Premises. ”

2. In exchange of the extension there shall be an acceleration of the

payments of the balance the Second Party shall pay the First Party
additional rental for the subject premises in the amount of One Hundred
Thousand Pesos (PhP100,000.00) per month until 10 April 2017.
Accordingly, the following Sections in the Compromise Agreement shall be
amended and shall heretofore be read as follows:

a) 1. (b) (ii) “Subsequent payments - The balance of One Million,

Eight Hundred and Seven Thousand, Nine Hundred and Sixty-
Three Pesos and 61/100 Centavos (PhP 1,807,963.61shall be
paid in three monthly installments of Four Hundred Thousand
Pesos (PhP400,000.00) and thereafter monthly installments in
the amount of One Hundred Thousand Pesos (PhP100,000.00)
until fully paid except for the final payment which shall be in
the amount of One Hundred and Seven Thousand, Nine
Hundred and Sixty-Three Pesos and 61/100 Centavos (PhP
107,963.61). All payments shall be covered by post-dated
checks.

b) Immediately after abovementioned section the following

additional subsections on rentals and schedule of payments is
hereby inserted and shall be read as follows

“(iii) Rentals – The amount of One Hundred Thousand Pesos

(PhP100,000.00) per month covered by post-dated checks shall
be paid by the Second Party to the First Party as rental for the
use of the subject premises from 10 January 2017 until 10 April
2017.

(iv) Schedule of Payments – the balance and rentals shall be

paid through monthly post-dated checks. The first three (3)
monthly payments shall be in the amount of Five Hundred
Thousand Pesos (PhP500,000.00) each, representing payment of
Four Hundred Thousand Pesos (PhP400,000.00) for the balance
plus One Hundred Thousand Pesos (PhP100,00.00) for the
rental for the said month. Thereafter, the Second Party shall pay

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 the First Party five (5) monthly payments of One Hundred
Thousand Pesos (PhP100,000.00) and a sixth and final monthly
payment on 10 September 2017 in the amount of One Hundred
and Seven Thousand, Nine Hundred and Sixty-Three Pesos
and 61/100 Centavos (PhP 107,963.61). Such final payment will
be considered as full payment of all obligations of the Second
Party to the First Party.”

c) In order to harmonize the amended sections, the following

sections are hereby amended to read as follows:

“1. (c)(iii) The total amount for the penalty charges and
attorney’s fees is already included and covered in the final
payment in the total amount of One Hundred and Seven
Thousand, Nine Hundred and Sixty-Three Pesos and 61/100
Centavos (PhP 107,963.61).”

“2. All payments on the total amount shall be covered by post-

dated checks drawn by the Second Party as payable to the First
Party.”

3. This Addendum shall NOT in any way be construed as an

admission on the part of any party of any fault, negligence or liability, of
whatever kind and nature, in connection with the Pending Case.

4. The foregoing covenants are not contrary to law, morals, or

public policy and the parties bind themselves to comply strictly with their
undertakings.

IN WITNESS WHEREOF, parties herein affixed their signatures on

the date and place above written.

NESTORIO A. LIM, JR. EDWIN O. AFZELIUS, JR.

Represented by Mark M. Lim
First Party Second Party

Witnessed By:
__________________________   __________________________

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 ACKNOWLEDGEMENT
 BEFORE ME, a Notary Public for and in the City of _________, personally
appeared:
Name Valid Identification Place Issued Date of Issuance/
No. Expiry
Nestorio A. Lim, Jr.
Michael Mark M. Lim
Edwin O. Afzelius, Jr.

and they acknowledged to me that they are the same persons who
executed the foregoing instrument, consisting of four (4) pages, including
this page; that that they executed the foregoing instrument as their own
free and voluntary act and deed, for themselves and/or in behalf of their
respective principals.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2017.