AUTHORITY TO SELL

This is to authorize Marinel R. Hipolito, Charles Morales and Ferdinand Valerio, to

negotiate the sale of property under the following terms and conditions:

Location : Brgy Coral Na Bato, San Rafael, Bulacan

TCT Number : 039-2011006397
Lot Area : 31,286 sqm more or less
Selling Price : PHP 1,000 per sqm
Payment Terms : CASH or based on the agreement of the seller and buyer
Commission : PHP 1,000,000

TERMS & CONDITIONS:

- The SELLER’s account; real estate tax prior to the execution date of Deed of Absolute
Sale and judicial settlement, if necessary.

- The BUYER’s account will be the documentary stamp tax, transfer tax, notarial fee and
registration fee for the issuance of the new title.

- The authorized broker/agent whose name appears above is entitled for the overpricing of
the selling price for his commission and other related expenses (ie: fee for Capital Gain Tax
and other notarial fees for selling the property.

- Release of commission shall take effect upon receipt of full payment from the buyer.

- This extension for authority to sell is non-exclusive and sales shall be on a “First Come
First Serve basis”.

Respectfully yours,

Carlo A. Maderazo
Owner/Seller