DEED OF CONDITIONAL SALE CONTRACT

This agreement made this __________day of ___________ 20___ between;

MICHAEL J. LANDRITO, legal age, married, Filipino, President of MEG@VPS

SECURITY AGENCY, INC., with office address at 81- D JCI Corporate Centre,
Lantana Street, Cubao, Quezon City, hereinafter referred to as “SELLER”;

AND

RODOLFO DELFIN, legal age, Filipino, with postal address at Blk 6 Lot 15
Phase 2, Pinagsama, Taguig City, hereinafter referred to as “BUYER”;

W I T N E S S E T H:

1. MOTOR VEHICLE - Seller in consideration of the payments, agreements and conditions

contained herein which on the part of the buyer are to be made, done and performed, has this
day delivered and agreed to sell and the buyer has this day agreed to buy from the seller, but
upon the conditions herein recited, to the buyer the hereunder described motorcycle:

MAKE : Yamaha
YEAR MODEL : 2016
SERIES : FZ I BP71
DENOMINATION : Motorcycle without side car
CHASSIS : PA0RG3610G0002603
ENGINE : G3E3E0030162
PLATE NO. :

2. PRICE - The current selling price of said motorcycle for the purpose of this
Conditional Sale is THIRTY-FIVE THOUSAND PESOS (P35,000.00);

3. PAYMENTS - BUYER agrees to pay the SELLER the whole amount for the period of
two (2) years starting July 16, 2021.

4. LOSS OR ACCIDENT - In case of loss or accident involving the subject motorcycle, the
BUYER shall immediately report the same to the SELLER not later than twenty-four (24) hours
from said occurrence. Thereafter a written report should be submitted including the necessary
police report, sworn statement, and other papers or documents that may be required by the
Insurance Company for the processing of claim, subject to the following:

a. In case of gross negligence such as driving under the influence of liquor, serious
violation of traffic rules and regulations, passenger of more than one, lending to
others who are not duly authorized by the SELLER or use other than required by
service/employment, the BUYER shall assume full responsibility for whatever
damages and expenses;

b. In case the BUYER meets an accident during his official disposition of duty and is
service connected, the SELLER shall be obliged to pay for the hospitalization
and medication of the BUYER provided the proximate cause of the accident is
not attributable to the BUYER;

c. In case the loss or damage to any part of the motorcycle was due to the gross
negligence of the BUYER, he shall assume full responsibility for its repair and
replacement;

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 d. Damages and expenses due to accident or loss beyond the control of the
BUYER shall be claimed to the Insurance Company, any amount that may be
given in advance by the SELLER should be charged from the insurance proceed.

5. REPAIRS – Ordinary wear and tear brought about by the regular use of the
motorcycle shall be at the expense of the BUYER, but loss or damage in any parts of the
motorcycle due to the negligence or bad faith on the part of the BUYER should be solely at his
own expense. Major repair due to accident maybe advanced by the SELLER deductible from
the insurance proceeds.

6. INSURANCE - The BUYER hereby acknowledges receipt of the motorcycle and

accepted the same after having been first examined, tested and found the same to be in good
condition. The SELLER agrees to keep the motorcycle insured and renew the same until the
same had been fully paid by the BUYER.

In case of death, permanent disability, severance from employment, this CONTRACT

shall be deemed rescinded and the unit shall be returned to the SELLER upon proper
restitution, as such, the SELLER shall refund seventy percent (70%) of the total amortization
paid by the BUYER after deducting arrearages, missing parts and/or accessories and damage
caused by abusive or negligent use of the unit. In case fifty percent (50%) had already been
paid by the BUYER, he may pay the balance in lump sum cash.

7. LICENSE FEES, TAXES AND NECESSARY EXPENSES - The SELLER agrees to

pay all the taxes, license fees or charges. Expenses for said motorcycle ornaments like an
improvised crash guard and other accessories not essential for the operation of the said
motorcycle shall be at the BUYER’S expense. However, in the event buyer dies, becomes
permanently incapacitated, resigns or otherwise terminated from employment, thirty percent
(30%) of the actual cost of those ornaments should be refunded to the BUYER or he may
remove the said ornaments at the option of the BUYER, such refund if any should be based
upon presentation of necessary receipts.

8. DEFAULT - Should the BUYER fails to keep and perform any or all the terms
contained herein, and to pay within five (5) days after maturity any and all sums hereunder, or if
said motorcycle is remove or attempted to be removed from the city or place of residence of
the BUYER, or to otherwise disposed of, or if the BUYER shall lend, sell or encumber said
motorcycle, or in case of misuse or abuse thereof, or whenever the SELLER or assigns shall
deem the debt insecure, said SELLER may without any demand or notice take possession of
the motorcycle wherever found, and all the rights of the BUYER over the motorcycle shall
cease and terminate thereupon absolutely. BUYER does hereby expressly and absolutely
waive any rights of action against the SELLER arising from the violation of the aforestated
conditions. The BUYER also losses his right to ask for the same should be retained by the
SELLER as a liquidated damages for the breach of this agreement.

9. REMEDIES - SELLER may sue the buyer or otherwise enforce payment of said note
and no legal proceeding with respect thereto shall be deemed any waiver of said right to take
possession of the motorcycle. The SELLER reserves the right to sell the motorcycle in public or
private sale at anytime with or without notice to the BUYER. Should the proceed of the sale is
repossession, removal, reparation, storage and liens, including attorney’s fee the BUYER can
be held liable for the deficiency as damages. The waiver of indulgence of any default shall not
operate as waiver of subsequent default.

10. INTERPRETATION - This agreement shall apply to and bind the heirs, executors,
administrators and assigns of the BUYER and shall insure to the benefit of the SELLER, seller’s
contain the entire agreement between the parties hereto, their agents or employees whether
verbal or written.

The SELLER reserves the right to negotiate the terms and conditions of this agreement
when it deems appropriate and necessary in consultation with the management committee.

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 IN WITNESS WHEREOF, we have hereunto set our hands this____________ day of
_______________20__, at _______________City Philippines.

MEG@VPS SECURITY AGENCY, INC.

Conditional Buyer Conditional Seller

RODOLFO DELFIN MICHAEL J. LANDRITO

President

Witnesses:

_____________________ JOSELITO CANCERAN

Admin

REPUBLIC OF THE PHILIPPINES)

City of )SS
x------------------------------------------------x

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and on this _________day of __________, 20__,
personally appeared:

NAME COMPETENT EVIDENCE DATE /PLACE ISSUED

OF IDENTITY

MICHAEL J. LANDRITO SSS No. 33-6721527-6 /Quezon City

(Conditional Seller)

RODOLFO DELFIN _____________________ ___________________

(Conditional Buyer)

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

Doc. No. : ______.

Page No.: ______.
Book No.: ______.
Series of 20__.