MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

           This AGREEMENT, made and entered into by and between:

SPS. ________________, both of legal age, Filipino, and

residing at _______________, hereinafter known as the
FIRST PARTY

And

_________________________, of legal age,

________________, and with residential address at
__________________, hereinafter referred to as the
SECOND PARTY,

WITNESSETH THAT:

Whereas, the First and Second Parties agreed for the continuance of
Second Party’s lease to First Party’s property located at
___________________ .

Whereas, the First Party agreed for the payment of the unpaid 2020
rent with 50% discount or a total unpaid balance of Php 360,000.00 for
20201.

Whereas, the First Party agreed for the payment of the unpaid 2021
rent covering 7 months or a total unpaid balance of Php 420,000.00 for
20212.

Whereas, to continue the lease of the above-mentioned property and

as far as the remaining unpaid rent is concerned, parties agreed as
follows:

1. The total unpaid rent for the above-mentioned property is Php

780,000.00 and computed as follows:
CY 2020= Php 360,000.00
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Computed as Php 720,000.00 x 50% = Php 360,000.00
2
Computed as Php 60,000.00 x 7 months = Php 420,000.00

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 CY 2021= Php 420,000.00
PHP 780,000.00

2. From Php 780,000.00 unpaid rent, the following payments

previously paid shall be deducted:
Php 780,000.00
- Php 180,000.00 paid on ________, 20___.
- Php 30,000.00 paid on _________20___.
____________________
Balance: 570,000.00

3. From the Php 570,000.00 balance, herein Second Party shall pay
herein First Party the amount of Php 180,000.00 on or before
_____________ and computed as follows:

Php 570,000.00
- Php 180,000.00 paid on ________.
____________________
Balance: 390,000.00 balance

4. The remaining Php 390,000.00 shall be paid monthly for one year
or in the amount of Php 32,500.00 per month starting _________ and
until______________.

5. From the payment of Php 180,000.00 as indicated on paragraph 3

hereof, Second Party can already take possession of the property and
continue the operation of Second Party’s business.

6. Parties will execute a different contract of lease for the continuation

of lease of the above-mentioned property. In the execution of the new
lease contract, parties agree that Second Party will pay Php 40,000.00
monthly for the time being until the full payment of Php 390,000.00 ( Php
32,500/monthly) as mentioned in paragraph 4 hereof. After full payment
of Php 390,000.00, Second Party will revert to the original Php 60,000.00
monthly rent.

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  IN WITNESS WHEREOF, the parties have set their hands on the
___day of JUNE 2022 at the City of _______________.

SPOUSES_______________________ and ___________________

First Party

Second Party

SIGN IN THE PERSENCE OF:

________________ __________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF _______________ , METRO-MANILA) S.C.

BEFORE ME, a Notary Public and in the City of Manila, Metro

Manila, this __th day of June 2022 , personally appeared:

_______________
_______________

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known to me to be the same persons who executed the foregoing
instrument and they acknowledged to me that the same is their own free
will and voluntary act and deed.

This instrument consisting of four (4) pages including this page

wherein the Acknowledgement is written, refers to a MEMORANDUM
OF AGREEMENT, the same having been signed by the parties together
with their two instrumental witnesses, on each and every page thereof.

WITNESS MY HAND AND NOTARIAL SEAL on the date and

place first above-written.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2022.