MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT is made and executed by and between:

MELCHOR ________________ ASCUE, of legal age, Filipino, and a resident of

__________________, General Santos City, hereinafter referred to as the “VENDOR”,

and

RMS MARKETING CONSULTANCY SERVICE, a sole proprietorship existing

under and by virtue of the laws of the Philippines with principal office address at Block 6
Lot 10 Las Villas Subd, Brgy. City Heights, General Santos City, represented herein by
its Proprietor, MARLON CARIN SEGUIZA, hereinafter referred to as the
“VENDEE”;

WITNESSETH:

WHEREAS, the VENDOR is the owner of a certain property situated at Tambler,

General Santos City designated as Lot No. 19, Gss-12-000452-D with an area of TWENTY
THOUSAND (20,000) SQUARE METERS, more or less, embraced by Transfer Certificate
of Title (TCT) No. P-8308 with the Registry of Deeds for General Santos City registered in the
name of Melchor J. Ascue, more particularly bounded and described as follows:

LOT NO. 19, GSS-12-000452-D

TCT No. P-8308

“Beginning at a point marked “1” of Lot 19, Gss-12-000452-D;

being N. 03 deg. 47’E., 2,576.57 m. from PRS-92, SCT-16, to corner 1,
thence;

1-2 S. 48 deg. 02’E., 45.33 m.

2-3 S. 26 deg. 30’W., 456.18 m.
3-4 N. 52 deg. 09’W., 44.55 m.
4-1 N. 26 deg. 30’E., 459.50 m.

Containing an area of TWENTY THOUSAND (20,000)

SQUARE METERS, more or less.

All points are marked on the ground by G.S. Cyl. Conc. Mons. 15
x 40 cms.

Bounded on the N.E. along line 1-2 CLAIMED BY RIVERA ET.

AL.; on the S.E. along line 2-3 by Lot 18, Gss-12-000452-D; on the
S.W. along line 3-4 by ROAD; on the N.W. along line 4-1 by Lot 20,
Gss-12-000452-D.”

WHEREAS, the FIRST PARTY has offered to lend the Transfer Certificate of Title,
TCT No. P-8308, to the SECOND PARTY to be used as collateral to secure a loan from RUBY
LENDING CORP. and the SECOND PARTY has agreed to act as MORTGAGOR with Ruby
Lending Corp. for the loan amount of TEN MILLION PESOS (P10,000,000.00);

NOW, THEREFORE, for and in consideration of the foregoing premises and the terms
and conditions herein set forth, the PARTIES hereby agree and bind themselves as follows:

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 1. The FIRST PARTY shall borrow from the SECOND PARTY the amount of TWO
MILLION PESOS (P2,000,000.00) upon release of the loan proceeds from Ruby
Lending Corp;

2. The SECOND PARTY undertakes to pay the monthly interest of the Two Million
Pesos (P2,000,000.00) loan of the FIRST PARTY to Ruby Lending Corp. at the rate
of 1.67% per month until such time the FIRST PARTY completes the sale of the
above-described property;

3. All obligations due to Ruby Lending Corp, inclusive of the principal loan amount,
interests, and surcharges, shall be paid for by the FIRST PARTY on or before
December 2023 or upon completion of the sale of the above-described property;

4. The FIRST PARTY shall also pay the SECOND PARTY an amount equivalent to
the total interest payments for the Two Million Pesos (P2,000,000.00) made by the
SECOND PARTY to Ruby Lending Corp.;

5. Upon payment of the loan obligation to Ruby Lending Corp. and redemption of TCT
No. P-8308, the SECOND PARTY shall become indebted to the FIRST PARTY in
the amount of EIGHT MILLION PESOS (P8,000,000.00) payable in TWENTY
FOUR (24) MONTHS subject to 1.67% interest rate per month;

6. Any action arising from or in connection with this Agreement shall be filed before the
appropriate court of General Santos City only, to the exclusion of all other courts in
the Philippines; and

7. This Agreement, including its attachments, if any, constitutes the entire understanding
between the Parties hereto with respect to the subject matter hereof and supersedes
any and all prior negotiations, discussions, and agreements.

IN WITNESS WHEREOF, the Parties have hereunto set their hands this __________
day of May 2023 in General Santos City, Philippines.

MELCHOR J. ASCUE MARLON C. SEGUIZA

First Party Second Party
________________________ P0956085C/DFA MANILA/07-15-2032

SIGNED IN THE PRESENCE OF

SALINA T. GENSO AMELIA D. CATALUÑA

M06-09-002058/LTO/09-03-2032 VIN
6303-0156C-D0249ADC20000-6/COMELEC

ACKNOWLEDGMENT

Republic of the Philippines)

City of General Santos )S.S
x-----------------------------------x

BEFORE ME, a Notary Public for and in the City of General Santos, this _______ day
of May 2023, personally appeared the above-named persons, exhibiting to me their competent
evidence of identity bearing their photographs and signatures, written below their names, known

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

This instrument refers to a Memorandum of Agreement which consists of two (2) pages
including the page on which this Acknowledgment is written and signed by the parties and their
instrumental witnesses on all pages thereof, in my presence, and sealed with my Notarial Seal.

WITNESS MY HAND AND NOTARIAL SEAL on the date and at the place first
written above.

ANNALEE D. DURANA
Notary Public
for and in the City of General Santos
Until 31 December 2023
Doc No. _______; Roll No. 76425 | 05/04/2022
Page No. _______; IBP O.R. No. 259464 | 01/03/2023 | Pasig City
Book No. _______; PTR No. 0510938 | 01/03/2023 | GSC
Series of 2023. TIN 166-659-727
lee_durana@yahoo.com

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