Annex “4”

MEMORANDUM OF AGREEMENT

This Memorandum of Agreement (“Agreement”), is made as of this 30 th day of June

2021 by and between:

MARIE IVY VICENTE, single, of legal age, Filipino and a resident of Brgy. 46
Nalbo, Laoag City, Ilocos Norte, and RACHELL ANN R. SACAYANAN, married, of legal
age, Filipino citizen and a resident of Brgy. 44 Zambaonga, Laoag City, Ilocos Norte
hereinafter referred to as the BORROWERS; and

Spouses MARK LESTER TOQUERO and SHEMAINE TOQUERO married, are of

legal age, Filipino citizen and residents of #66 General Luna Street, Laoag City, Ilocos
Norte hereinafter referred to as the LENDERS.

WHEREAS, the Borrowers have requested a loan secured by a Real Estate

Mortgage executed on December 20, 2020, in the amount of One Million Five Hundred
Thousand Pesos (Php1,500,000.00), Philippine Currency to be paid on or before June
20, 2021;

WHEREAS, the Borrowers requested the Lenders to extend the term of the loan
to be payable until December 31, 2021, for the reason that both the Borrowers were
terribly affected by the pandemic especially after both the Borrowers tested positive in
Covid-19;

WHEREAS, the Borrowers in addition to the sum of the loan are willing to pay
interest at the rate of one percent (1%) per month until the maturity date; and

WHEREAS, the Lenders agreed to the extension of the loan and the additional
interest rate.

NOW, THEREFORE, for and in consideration of the amount One Million Five
Hundred Thousand Pesos (Php1,500,000.00), Philippine Currency, due and payable as
herein above-provided, and of the mutual terms and covenants as above-mentioned, the
Lenders agrees to extend the term of the loan until December 31, 2021, and the
Borrowers shall pay in addition to the sum of loan interest in the rate of one percent (1%)
per month on the outstanding balance. Interest shall accrue from the date hereof until full
payment thereof.

IN WITNESS WHEREOF, we have hereunto affixed our signature on the 30 th day

of June 2021 in Laoag City, Ilocos Norte, Philippines.

MARK LESTER TOQUERO SHEMAINE MARIE TOQUERO

Passport No. P2326250A Passport No. P2326255A
Issued at DFA Manila Issued at DFA Manila
Issued on March 22, 2017 Issued on March 22, 2017

RACHEL ANN SACAYANAN MARY IVY VICENTE

Driver’s License No. B09-19-002028 Passport No. P2916678A
Issued at LTO Laoag City Issued at DFA La Union
Issued on November 10, 2019 Issued on February 06, 2018

SIGNED IN THE PRESENCE OF:

VERONICA MAGBUAL JURINDA ACOSTA

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF LAOAG ) S.S.

BEFORE ME, this 30th day of June 2021 in the City of Laoag, Province of Ilocos
Norte, Philippines, personally appeared the above-mentioned parties, exhibiting to me
their Competent Proof of Identity indicated below their names set forth above, 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.

WITNESS MY HAND AND NOTARIAL SEAL on the day, year, and place above
written.

Doc. No. 100 ATTY. CHRIZZA MAE D. FONTAMILLAS

Page No. 21 Notary Public
Book No. 01 Until December 31, 2022
Series of 2021 Roll of Attorneys No. 62491
IBP Lifetime Roll No. 013066010/20/2015 Manila
PTR No. 11914363 01/04/2021 Laoag City
MCLE Compliance No. VI-0018509