MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

JOHNNY CHAN, Filipino, of legal age, married and a resident of Doljo, Panglao, Bohol,
hereinafter called as the FIRST PARTY;

- AND –
FORTUNATA MEJOS, MARCELO LORENIANA , VIRGINIA LORENIANA, RITO LORENIANA,
VIVIAN L. CUBAR, MYRA L. BALBIDO, LUCIA PAQUIBOT AND DHALIA LORENIANA, ALL FILIPINOS
and all legal ages, and all residents of Panglao, Bohol, hereinafter called as the SECOND PARTY;

- WITNESSETH –

That the second party is the owner of a parcel of land situated at Tawala, Panglao,
Bohol;

TAX DECLARATION NO. 2016-33-10-01446 LOT NO. 11135 (4465-B) WITH

AN AREA OF EIGHT HUNDRED (800) SQUARE METERS, MORE OR LESS, SITUATED AT
TAWALA, PANGLAO, BOHOL;

That the Second Party Offers to sell the above-described parcel of land to the First Party ;
NOW THEREFORE, in view of the foregoing premises, the parties hereto have agreed the
following condition to wit:
That the total consideration of the above-parcel of land in the sum of FIVE MILLION SIX
HUNDRED THOUSAND PESOS ,(P5,600,000.00), Philippine Currency, to be the paid in the
following, manner to wit:
a) That the First Party will give to the Second Party the THREE MILLION NINE
HUNDRED TWENTY THOUSAND PESOS (P3,920,000.00);
b.) That the parties will execute a Deed of Extrajudicial Sale and will be sign upon release
of the above-mentioned amount (P3,920,000.00);

c. ) That the remaining balance in the amount of ONE MILLION SIX HUNDRED EIGHTY
THOUSAND PESOS (P1,680,000.00) SHALL BE PAID UPON ISSUANCE AND RELEASE
OF TITLE FROM THE DENR AND REGISTER OF DEEDS;

d.) That transfer of Title will be at the expense of the Buyer -First party;

e) That the houses constructed on the parcel of land sold by the above-mentioned
name shall be given within and period of NINETY (90) DAYS TO DEMOLISHED and vacate
the premises;

f) The Second Party warrants that the property sold if free from all liens and
encumbrances , and he covenant to defend the rights of the Vendee against any
claims whatsoever by any person;

g) That the Vendee hereby manifest and represents that he has inspected the
property subject of this contract and found same acceptable ;

IN WITNESS WHEREOF, the parties hereunto set their signature this ______day of
_______________, 2018 in the City of Tagbilaran, Philippines.
 JOHNNY CHAN FORTUNATA MEJOS
First party-Buyer Second Party

MARCELO LORENIANA VIRGINIA LORENIANA

Second Party Second Party

RITO LORENIANA VIVIAN L. CUBAR MYRA L, BALBIDO

Second Party Second Party Second Party

LUCIA L. PAQUIIBOT DHALIA LORENIANA

Second Party Second party

WITNESSESES:

________________________________ __________________________
ACKNOWLEDGEMENT

Republic of the Philippines)

City of Tagbilaran )S.S.
X------------------/

BEFORE ME, this ______ day of ______________, 2017 in the City of Tagbilaran, by the
affiants with their Community Tax.
Johnny Chan
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________
___________________ __________________ _______________ __________________

Known to me and to me known to be the same person who executed this instrument and they
acknowledged to me that the same are their own free act and deed.

WITNESS MY HAND AND SEAL.

DOC. NO. _______:

PAGE NO. _______:
BOOK NO. ______ :
SERIES OF 2018 :