MEMORANDUM OF AGREEMENT

This MEMORANDUM OF AGREEMENT is made and executed in __________________, Metro Manila,

Philippines, this day of _________________ by and between:

Augustus Caesar Maristela Fermin, of Legal age, Filipino citizen, Single and with residence and postal
address at 39, Santan St. La Colina, Brgy. Fortune, Marikina City, Philippines, hereinafter referred to as
the FIRST PARTY;
-and-
Jhonna Del Rosario Amancio, of Legal age, Filipino citizen, Married and with residence and postal
address at 14 Fercon st. Delta Village Brgy. Tandang Sora, Quezon City Philippines, hereinafter referred
as the SECOND PARTY;

WITNESSETH; That

WHEREAS, THE FIRST PARTY is the registered owner of the MOTORCYCLE, subject of this
MEMORANDUM OF AGREEMENT particularly described as follows:

MAKE & TYPE : HONDA (MOTORCYCLE)

COLOR : RED & BLACK
YEAR MODEL : 2020
SERIES : ACH110CBTL3
ENGINE NO. : JF78E7241031
CHASSIS NO. : K81N0000586
MV FILE NO. : 1303-00001009693
OFFICIAL RECEIPT : 1929850241
CERTIFICATE OF REGISTRATION : 39446961-1

WHEREAS, THE FIRST PARTY agrees to sell out the MOTORCYCLE to the SECOND PARTY who is
willing to buy the same;

NOW, THEREFORE, for and in consideration of the foregoing premises, the FIRST PARTY sell
unto the SECOND PARTY who hereby accepts from the FIRST PARTY the sold MOTORCYCLE, subject of
the following terms and conditions:

ASSUMPTION OF MORTGAGE:

The MOTORCYCLE sold is still the subject of a Contract of Loan with COUNTRY FUNDERS
FINANCE CORPORATION, which shall be assumed by the SECOND PARTY for the same terms and
conditions with that of the FIRST PARTY, particularly, a down payment of P7,000.00 inlcuding the
remaining balance of 32 monthly installments, with monthly amortization amounting to P3,717.00,
payment of which due every 15th of the month starting 15th of January 2021. The FIRST PARTY shall not
be liable for any penalties due to unpaid monthly amortization and late payment fee.

RIGHT OF REPOSSESSION:

In case the SECOND PARTY fails to pay at least 1 month installment of the monthly amortization
of the Contract of Loan with Country Funders Finance Corp., the FIRST PARTY shall have the right to
repossess the said MOTORCYCLE from who may be in possession thereof and that the SECOND PARTY
shall surrender it to the FIRST PARTY. The SECOND PARTY has 3 days to settle the unpaid monthly
amortization, including any late payment fee and penalty and may claim back the deposited
MOTORCYCLE from the FIRST PARTY once paid.

The SECOND PARTY shall not lease or sell the MOTORCYCLE while the Loan with COUNTRY
FUNDERS FINANCE CORPORATION is still on-going. Otherwise, the FIRST PARTY will repossess the
MOTORCYCLE from the SECOND PARTY.

FORCE MAJEURE:

If whole or any part of the subject MOTORCYCLE shall be destroyed or damaged by accident,
robbery without fault of the FIRST PARTY, ITS EMPLOYEE OR ANY OF ITS AUTHORIZED AGENT, fire, flood,
lightning, typhoon, earthquake, storm, riot or any other unforeseen disabling acts of God, as to render
the LEASED MOTORCYCLE during the term substantially unusable, the FIRST PARTY shall not be liable for
any compensation and damages to the SECOND PARTY. Wherein, the SECOND PARTY shall still settle
the remaining assume balance of the MOTORCYCLE until completely settled.

This MEMORANDUM OF AGREEMENT shall be valid and binding between the parties, their
successors-in-interest and assigns.

IN WITNESS WHEREOF, parties herein affixed their signatures on date and place above written.

________________________________ ______________________________________
AUGUSTUS CAESAR M. FERMIN JHONNA DEL ROSARIO AMANCIO
(First Party) (Second Party)

WITNESSED BY:

_________________________________ _______________________________________
NAME & SIGNATURE NAME & SIGNATURE
_______________________________ ______________________________

Signature Signature
PAYMENT DETAILS
BILLER NAME: COUNTRY FUNDERS FINANCE CORP.
PAYMENT CHANNELS: CEBUANA LHUILLIER / PALAWAN EXPRESS
ACCOUNT NAME: AUGUSTUS CAESAR M. FERMIN
REFERENCE NUMBER: CS47FC13
MOBILE NUMBER: 09156759310

SCHEDULE OF FEES:
DUE DATE: Every 15th of the Month
MONTHLY AMORTIZATION: P 3,717.00
LATE PAYMENT: 5% of the Monthly Amortization
PENALTY: P7.00 per day