MEMORANDUM OF AGREEMENT

MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT TO SELL is made and executed in Cebu City,

Philippines on this 5th day of December 2019 by and between:
DEM VILLA PROPERTY VENTURES, INC. a corporation duly organized

and existing under Philippine laws, with principal office at CPG
Avenue, Poblacion 2, Tagbilaran City, Bohol represented herein by
Donnah Villa Pag-ong and hereinafter referred to as “FIRST PARTY”
-and-
HEIRS OF GAUDENCIO BAYOT Filipinos of legal ages and residents

of Dacudao, Calinan, Davao City hereinafter referred to as “SECOND
PARTY”
WITNESSETH
WHEREAS, the FIRST PARTY is into the business of land

management and development in the Province of Bohol;
WHEREAS, the SECOND PARTY are the owner of a portion of a

certain parcel of land situated in Barrio Guiwanon, Baclayon, Bohol
which is denominated as Lot No. 4218-A, with a total area of
18,567 square meters and covered by OCT No.11153 issued by the
Registry of Deeds for Province of Bohol;
WHEREAS, the FIRST PARTY has offered to buy and the SECOND
PARTY has agreed to sell the above-described parcel of land subject
to the terms and conditions hereinafter;
NOW THEREFORE, for and in consideration of the foregoing

premises and the payment of the agreed purchase price in the manner
and form herein stipulated, the SECOND PARTY hereby agrees to SELL,
TRANSFER and CONVEY unto the FIRST PARTY its assigns and successors-
in-interest, and thereby agrees to BUY the PROPERTY subject to the
following terms and conditions:
1. The contract price for the sale of the PROPERTY shall be

SEVEN MILLION FOUR HUDRED TWENTY SIX THOUSAND AND EIGHT
HUNDRED (PhP 7,426,800.00), Philippine Currency;
2. Upon the execution of this AGREEMENT the FIRST PARTY shall

make an initial down payment of SIX HUNDRED THOUSAND PESOS
( PhP600,000.00), Philippine Currency in equal three monthly
installments or TWO HUNDRED THOUSAND PESOS (PhP
200,000.00)per month. The execution of DEED of SALE shall be
done once the FIRST PARTY has paid the down payment;
3. The balance payment of SIX MILLION EIGHT HUNDRED TWENTY SIX

THOUSAND AND EIGHT HUNDRED PESOS (PhP 6,826,800.00) shall be
paid in twenty-four (24) equal monthly installments or TWO
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HUNDRED EIGHTY FOUR THOUSAND AND FOUR HUNDRED FIFTY PESOS
(PhP 284, 450.000) per month which payment shall commence in
90 days from giving of down payment; The FIRST PARTY shall
issue post-dated checks equivalent to the said monthly
installments;
4. The expenses for the transfer and registration of the

subject property shall be to the account of the FIRST PARTY.
5. The SECOND PARTY guarantees that the subject property of

this agreement is free from all liens and encumbrances and
the FIRST PARTY is assured of its legal and peaceful
possession and/or ownership of the same and will forever
depend the rights and interests of the FIRST PARTY, their
assigns and successor from any unlawful claims from third
party whomsoever.
6. If the FIRST PARTY fails to pay for three (3) consecutive

months the sale shall be considered void and all prior
payments shall be forfeited in favor of the SECOND PARTY;
7. The FIRST PARTY shall have the right to take possession over
the property after payment of the down payment and the
execution of the Deed of Sale by the parties.
8. This agreement shall inure to the benefit of, and be binding

upon the parties hereto and their respective successors and
assigns;
9. If any part of this agreement shall be deemed to be

unenforceable or unlawful by a court of competent
jurisdiction, such termination shall have no effect on the
validity and enforceability of the other terms and
conditions of this Agreement, and the challenged term shall
be deemed deleted;
IN WITNESS WHEREOF, the parties have hereunto affixed their

signatures this _ day of December 2019 at Tagbilaran City,
Bohol.
DEM VILLA PROPERTY VENTURES, INC.

(FIRST PARTY)
Donnah Villa Pag-ong

Chief Executive Officer
HEIRS OF GAUDENCIO BAYOT

(SECOND PARTY)
Anatalia B. Pandan Paz B. Estorba Jovita B. Narit

Heir Heir Heir
2 | Page
SIGNED IN THE PRESENCE OF:
_______________________ _______________________
ACKNOWLEDGMENT
Republic of the Philippines)

TAGBILARAN CITY)S.S.
BEFORE ME, a Notary Public for and in the City of

Tagbilaran this _____ day of November 2019 at Tagbilaran City
City, Philippines, personally came and appeared the parties with
their valid proof of identification:
Name Identification
Anatalia B. Pandan
Paz B. Estorba
Jovita B. Narit
Donnah Villa Pag-ong TIN No. 452-746-863-00
Known to me, and to me known to be the same persons who

executed the foregoing MEMORANDUM OF AGREEMENT which they have
acknowledge before me as their free and voluntary act and deed.
This instrument consists of three (3) pages duly signed by the

parties and their witnesses, including this page where the
acknowledgment is written.
WITNESS MY HAND AND OFFICIAL SEAL at the place and date above
written.
Doc No. _____

Page No. ____
Book No. ____
Series of 2019
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MEMORANDUM OF AGREEMENT - Hrs. of G. Bayot

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KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made and executed in Cebu City,

DEM VILLA PROPERTY VENTURES, INC. a corporation duly organized

HEIRS OF GAUDENCIO BAYOT Filipinos of legal ages and residents

WHEREAS, the FIRST PARTY is into the business of land

WHEREAS, the SECOND PARTY are the owner of a portion of a

NOW THEREFORE, for and in consideration of the foregoing

1. The contract price for the sale of the PROPERTY shall be

2. Upon the execution of this AGREEMENT the FIRST PARTY shall

3. The balance payment of SIX MILLION EIGHT HUNDRED TWENTY SIX

4. The expenses for the transfer and registration of the

5. The SECOND PARTY guarantees that the subject property of

6. If the FIRST PARTY fails to pay for three (3) consecutive

8. This agreement shall inure to the benefit of, and be binding

9. If any part of this agreement shall be deemed to be

IN WITNESS WHEREOF, the parties have hereunto affixed their

DEM VILLA PROPERTY VENTURES, INC.

Donnah Villa Pag-ong

HEIRS OF GAUDENCIO BAYOT

Anatalia B. Pandan Paz B. Estorba Jovita B. Narit

Republic of the Philippines)

BEFORE ME, a Notary Public for and in the City of

Known to me, and to me known to be the same persons who

This instrument consists of three (3) pages duly signed by the

Doc No. _____

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