MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement (the “Agreement”) made and entered

into this _____ day of ______________2018 at , by and between:

ANNABELLE P. CASANDIG, Filipino, single/married

to ________, of legal age, with residence address at Block
2 Lot 11, Molave St., Admiral Subdivision, Talon 3, Las
Pinas City;

-and-

JOCELYN DE GUZMAN PERY, Filipino,

single/married to _________, of legal age, with residence
address at Block 2 Lot 11, Molave St., Admiral
Subdivision, Talon 3, Las Pinas City;

-and-

RONALDO DE GUZMAN PERY, Filipino,

single/married to _________, of legal age, with residence
address at Block 2 Lot 11, Molave St., Admiral
Subdivision, Talon 3, Las Pinas City;

-and-

JAQUELINE PERY ABABAO, Filipino, single/married

to __________, of legal age, with residence address at
Block 2 Lot 11, Molave St., Admiral Subdivision, Talon 3,
Las Pinas City;

-and-

JOSELITO DE GUZMAN PERY, Filipino,

single/married to _______, of legal age, with residence
address at Block 2 Lot 11, Molave St., Admiral
Subdivision, Talon 3, Las Pinas City;

-and-

EDGARDO DE GUZMAN PERY, Filipino,

single/married to __________, of legal age, with
residence address at Block 2 Lot 11, Molave St., Admiral
Subdivision, Talon 3, Las Pinas City;

(Collectively hereinafter referred to as the

“PARTIES”)

WITNESSETH: That
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WHEREAS, the PARTIES, who are siblings, are the absolute co-owners of
a parcel of land with improvements, located at Block 2 Lot 11, Molave St.,
Admiral Subdivision, Talon 3, Las Pinas City, covered by TCT No.
_______________ with a lot area of ____________ square meters, more or less;
hereinafter referred to as the “PROPERTY,.” to wit:

Transfer Certificate of Title No. ___________________

(insert technical description as shown on the title)

WHEREAS, the PROPERTY has four residential houses erected

thereon with of each residential houses were owned by JOCELYN DE GUZMAN
PERY, RONALDO DE GUZMAN PERY, and JAQUELINE PERY ABABAO..

WHEREAS, the residential house owned by ANNABELLE P.

CASANDIG, is more particularly described as with
___________________________________.

WHEREAS, the residential house owned by JOCELYN DE GUZMAN

PERY, is more particularly described as with
___________________________________.

WHEREAS, the residential house owned by RONALDO DE GUZMAN, is

more particularly described as with ___________________________________.

WHEREAS, the residential house owned by JAQUELINE PERY ABABAO

PERY, is more particularly described as with
___________________________________.

JOCELYN DE GUZMAN PERY, RONALDO DE GUZMAN PERY, and

JAQUELINE PERY ABABAO each own one house on the PROPERTY.
WHEREAS, the PARTIES desires to exercise their right of dominion over
the co-owned PROPERTY in accordance to existing laws available to co-owners.

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

and the mutual covenants herein set forth, the PARTIES hereto have agreed as
follows:

Section 1. GENERAL AGREEMENTS

1.1 The houses or improvements found inside the PROPERTY cannot be

rented out to anyone without the prior consent or approval of ALL
PARTIES.

1.2 No one is permitted to live in the houses or improvements found inside

the PROPERTY except the respective owners of the house or
improvement, the owner’s child or children, and/or the owner’s
grandchild or grandchildren.
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1.3 The PARTIES cannot sell the house and improvements found inside the
PROPERTY to anyone a third person other than except to one of the
PARTIESco-owners.

1.4 Further, tThe PARTIES cannot sell their respective share in the co-owned
propertyrship of the PROPERTY to any third person without first offering
first the same to the other co-owners.

1.5 In case of disagreement of matters which that does not require the
approval or consent of all PARTIES, the majority decision would prevail.

Section 2. TERMS

2.1 All provisions contained in tThis Agreement is valid for only tenTEN (10)
years from the time of execution, in accordance with Article 494 of the
New Civil Code.

2.2 Should the PARTIES intend to terminate this Agreement prior to the
expiration of the term, the written approval of ALL PARTIES should first
be obtained.

2.3 In case any of the party sells their house and improvements/respective
share to another co-owner, the other parties will no longer participate in
the said transfer of the subject property, unless his/her signature is
required, for which the other parties undertake to sign and execute
necessary documents needed for the subsequent sale, provided that the
selling party gives prior reasonable notice to the other parties.

2.4 In case any of the party is allowed to sell their respective share to a third
person, the other parties will no longer participate in the said transfer of
the subject property, unless his/her signature is required, for which the
other parties undertake to sign and execute necessary documents needed
for the subsequent sale, provided that the selling party gives prior
reasonable notice to the other parties.

2.5 Any party that shall violate the terms and conditions of this Agreement
shall pay liquidated damages in the amount of ONE MILLION PESOS
(PhP1,000,000.00);
2.6

Section 3. MISCELLANEOUS.

3.1 Compliance with Applicable Law. – The parties agree to abide by all
applicable laws of the Republic of the Philippines, which shall govern this
agreement.

3.2 Enforceability/Severability. – In case one or more of the provisions

contained in this agreement is held invalid, illegal or unenforceable in any
respect by the competent authority, the validity, legality and
enforceability of the remaining provisions contained herein shall not in
any way be affected or impaired thereby.
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3.3 Non-Waiver of Rights – The failure of a Party herein to require from the
other party a strict compliance with the terms and conditions of this
Agreement, shall not operate as a waiver of any right he may herein have,
to enforce compliance with the other terms and conditions or to seek
remedy or appropriate legal relief for their breach.

3.4 Successors and Assigns – This Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective heirs, successors
and assigns.

3.5 Entire Agreement. – This agreement and all other documents executed in
relation to or in connection with this transaction shall constitute as the
entire agreement among all the Parties and supersedes all prior or
contemporaneous oral or written communication, proposals and
representations with respect to its subject matter. All covenants hereof
shall extend to and be obligatory on the heirs, personal representatives,
successors and assigns (as the case may be) of the Parties.

3.6 Notice. – All notifications and communications relating to this agreement

shall be made by the Parties in writing and shall be signed by a person
duly authorized to provide such notice.

3.7 The parties hereto hereby mutually bind and obligate themselves to do
and perform such acts or execute and/or deliver any document needed to
give life to this instrument. The parties shall likewise act in good faith and
maintain transparency in dealing with each other and to the persons with
whom they shall transact henceforth.

Section 4. JUDICIAL RELIEF.

4.1. Should any party to this Agreement find it necessary to seek judicial relief
against the other to address any dispute arising from this Agreement, the
parties herein expressly agree that the venue of any court action or suit
that may arise from this Agreement shall be in the proper court in Makati
City, to the exclusion of all other venues.

This Agreement hereby amends and repeals the previous agreements executed
by and between the parties, and shall inure to the benefit of, and be binding
upon, the parties hereto and their respective legal representatives, heirs, and
assigns.

Section 3. MISCELLANEOUS PROVISION

3.1 Venue. This Agreement shall be valid and binding upon the contracting
parties, their heirs, executors and assigns. Any action or suit arising
hereunder shall be brought to the appropriate court of Las Pinas City, at
the option of the complainant, all other venues being hereby expressly
waived.
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IN WITNESS WHEREOF, the PARTIES have hereunto set their hand at

_____________, this ___ day of _______________, 2018.

_________________________ __________________________
ANNABELLE P. CASANDIG JOCELYN DE GUZMAN PERY

__________________________ ___________________________
RONALDO DE GUZMAN PERY JAQUELINE PERY ABABAO

__________________________ ___________________________
JOSELITO DE GUZMAN PERY EDGARDO DE GUZMAN PERY

SIGNED IN THE PRESENCE OF:

_________________________ _______________________

Republic of the Philippines )

) S.S.

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public for and in ________________, on this

____________ 2018, personally appeared the following:

Name Competent Evidence of Place/ Date of Issue

Identity

ANNABELLE P.
CASANDIG

JOCELYN DE GUZMAN
PERY
RONALDO DE GUZMAN
PERY
JAQUELINE PERY
ABABAO
JOSELITO DE GUZMAN
PERY
EDGARDO DE GUZMAN
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PERY

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

foregoing MEMORANDUM OF AGREEMENT and acknowledged to me that the
same is their free act and deed, as well as the free and voluntary act and deed of
the entities they represent.

The said instrument which consists of five (5) pages, including the page on
which this acknowledgement is written, has been signed on each and every page
thereof, by the parties and their witnesses.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my

notarial seal on the date and place written above.

(Notary Public)c)

Doc. No.______
Page No.______
Book No. _____
Series of 2018.