MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This agreement made and entered into by and between:

TUY AND COMMUNITY MULTI-PURPOSE COOPERATIVE, a duly registered cooperative with

Cooperative Development Authority, with postal address at Blk 6 Lot 1, TMVCMPC Village, Brgy. Luna
Tuy, Batangas, represented by its PRESIDENT/CEO, MR. ROBERTO E. MATALOG;

and

MR. EMITERIO VILLANUEVA JR. and MRS. APRIL VILLANUEVA, married with postal address at
General Trias Cavite;

who hereby stipulate, agree and bind themselves upon these terms and conditions:

WHEREAS, the rights of the property of MR. EMITERIO VILLANUEVA JR. and MRS. APRIL
VILLANUEVA located in Naic, Cavite with total of 50,000 square meters, exclusively belongs to TUY AND
COMMUNITY MULTI-PURPOSE COOPERATIVE for the reason that the aforementioned cooperative will
finance the conversion and reclassification of the said property.