MEMORANDUM OF AGREEMENT

This Memorandum of Agreement is made and executed as of the 1st day of December, 2020 at
Cagayan de Oro City, by and between:

, Filipino, legal age, as SELLER/OWNER of the property for assume at The Grove Cluster 8D,
Phase 1, Block 2 - Lot 20 Pueblo de Oro , Mastersons Avenue, Lumbia, Cagayan de Oro City.
__________________, Filipino, legal age, as BUYER of the property for assume by the
Seller/Owner.

The BUYER has agreed to pay the SELLER/OWNER the assume price of the property at the
amount of P650,000.00 (Six Hundred Fifty Thousand Pesos Only). Amount stated is paid in
4 terms:
a. First payment on November 27,2020 (Friday) through online bank transfer at the
amount of P50,000 (Fifty Thousand Pesos Only).
b. Second payment on November 28,2020 (Saturday) through online bank transfer at the
amount of P50,000 (Fifty Thousand Pesos Only).
c. Third will be on December 1,2020 (Tuesday) through cash/check payment at the
amount of P250,000 (Two Hundred Fifty Thousand Pesos Only)
d. Forth and final payment the balance of 350,000 will be given once the equity is fully
paid by the BUYER to the developer.

The SELLER/OWNER is responsible to the following:

1. The property’s equity is up to date until November 2020 with no delinquents.
2. The property is not offered to anyone except to the BUYER stated in this agreement.
3. The SELLER has informed the BUYER that the property is not yet built as of today.

The BUYER is responsible to the following :

1. The BUYER will continue paying the property’s equity balance amounted P37,709.15
(Thirty-Seven thousand Seven Hundred Nine and Fifteen Centavos only) per month
that will end until May 5, 2022.

2. The BUYER is willing to wait for the bank approval and bank loan released. As long as
the BUYER will provide all the necessary documents time to time if the bank requires.

If the equity is 100% fully paid , the BUYER and SELLER will go under the process of
transferring the account at the office of Pueblo de Oro. Processing fee is P50,000 (Fift Thousand
Pesos only) served as new reservation. Deductible to the old total contract price.
Contract to Sell will be signed by the BUYER.
If the name is transferred to the new account – the BUYER promised to comply the requirements
needed for the application of the account for bank financing or PAG-IBIG financing.
As promised by the developer, the property will be turned over on the first quarter of 2021.
However, if they didn’t meet the promised date, the responsibility and explanation will be by the
developer (Pueblo de Oro) not by the SELLER/OWNER or the SALES AGENT in this
agreement.