DACION EN PAGO AGREEMENT

This Dacion En Pago Agreement (“Dacion”) is made and executed by and

between:

Almira B. Bragais, of legal age, Filipino, with residence

address at Purok 5 Brgy Sugod, Tiwi, Albay (“Vendor”);

- and -

Ronielyn O. Obeña, of legal age, Filipino, with residence

address at Purok 5 Brgy. Ranao-ranao Ligao City, Albay
(“Vendee”);

WITNESSETH: That-

WHEREAS, the Vendor is the registered owner of a certain motor vehicle,

more particularly described as follows (“Motor Vehicle”):
MAKE : Honda
MODEL : PCX160
SERIES : -
TYPE : Scooter
SERIAL NO. : 12345678
MOTOR NO. : 12345678
PLATE NO. : 12345678
MV FILE NO. : 12345678

covered by Certificate of Registration No. 123 issued by Land

Transportation Office Legaspi, City and Official Receipt No. 123 dated
February 21, 2024, copies of which are hereto attached as Annexes “A” and
“B”.

WHEREAS, the Vendor is indebted to the Vendee in the amount of ONE

HUNDRED FIFTY THOUSAND PESOS (Php 150,000.00)
(“Obligation”);

WHEREAS, the Vendor is willing to settle his Obligation to the Vendee

but is not liquid to do so;

WHEREAS, the Vendor proposed to convey by way of dacion en pago, his

Motor Vehicle to the Vendee as full and complete settlement of his
Obligation, and the Vendee hereby accepts the same;

NOW THEREFORE, for and in consideration of the foregoing premises,

the Vendor hereby SELLS, TRANSFERS and CONVEYS, by way of
DACION EN PAGO/ DATION IN PAYMENT unto the Vendee, his heirs
and assigns, the above-described Motor Vehicle, as well as its accessories
and accessions, valued at ONE HUNDRED FIFTY THOUSAND PESOS
(Php 10,000,000.00), free from any and all liens, encumbrances and taxes.

The Vendor further warrants his ownership over the above-described Motor
Vehicle and shall defend the Vendee from any and all claims and causes of
action in connection with or arising from this transaction.

IN WITNESS WHEREOF, we have hereunto set our hands this 21st of

February at Purok 5 Sugod, Tiwi, Albay

ALMIRA BRAGAIS RONIELYN OBEÑA

Vendor Vendee

Signed in the presence of:

Carmela Ravalo Stephanie Parcutela

Acknowledgment

Republic of the Philippines ]

] S.S.

BEFORE ME, a Notary Public for and in Tiwi, Albay this 21st February
2024 personally appeared:

Name Government
Place/Date Issued
Issued I.D. No.

known to me and to me known to be the same persons who executed the

foregoing instrument and who acknowledged to me that the same are their
free act and voluntary deed.

2
WITNESS MY HAND AND SEAL.

NOTARY PUBLIC

Doc. No.
Page No.
Book No.
Series of