Memorandum of Agreement Mot2

MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:

I. PARTIES
This Boundary or Hulog System Agreement is made by in
between:
JASON BONGULAN ABALOS and ETHEL CAISPLE SUMAYLO both of legal
age, Filipino, single and a resident of Y202 Goodlife Apartment, F. Roxas St. 4 th
Ave. West Grace Park Caloocan City, hereinafter referred to as “FIRST
PARTIES”;
-AND-
____________________ of legal age, Filipino, married and a resident
of_________________________, hereinafter referred to as “SECOND
PARTY”;
WITNESSETH THAT:
WHEREAS, THE PARTIES have entered into AN AGREEMENT
UNDER THE FOLLOWING TERMS AND CONDITIONS:
WHEREAS, the “FIRST PARTIES” are the owners of the following
prescribed vehicles
WHEREAS, the “SECOND PARTY “is the bearer of professional

Drivers Licensed with a Licensed Number ________and has signify his
willingness to use the subject motor vehicle for hire unit, subject to
payment of daily boundary / hulog to the “FIRST PARTY”.
NOW,THEREFORE, for and in consideration of fix daily rent
/Boundary /Hulog and the covenants herein set after forth the parties
agree to enter into BOUNDARY HULOG SYSTEM AGREEMENT subject
to the following terms and conditions
WHEREAS, the vehicle subject to this Memorandum of Agreement () is a
MITSUBISHI MIRAGE G4 GLS 1.2 CVT, covered by OR NUMBER 1301-
0000000 /CR NUMBER _______, hereinafter referred to as “VEHICLE”;
II. UNDERTAKINGS
a. That the amount of BOUNDARY/HULOG shall be 1,000.00 (one

thousand pesos only) in a daily basis must be send thru Gcash
No.________/ bank account of the owners________
b. That the BOUNDARY/HULOG SYSTEM shall commence on
____________2023 and shall automaticall y ceased on ______________2028
c. That the OWNER hereby allows the HOLDER to the use of the VEHICLE
for any lawful purpose, during reasonable hours and within reasonable
locations, for the joyride passenger, lalamove , transpotify , rental/
service business and benefit of parites;
d. That the HOLDERS shall inspect and provide the necessary information
regarding the condition of the VEHICLE especially if there are defects
noted, to the “OWNERS” before he shall use the same;
e. That the HOLDERS bind himself to return the above-mentioned
VEHICLE in the same condition prior to its use or to pay the necessary
dues to restore the same to the said condition
f. That the OWNER, under this instrument, hereby didn’t allow any other
person as determined by the “OWNERS”, aside from above-mentioned
HOLDERS, to the use of the VEHICLE covered by this Memorandum of
Agreement;
g. Should the HOLDER of the VEHICLE commit palpable violations of traffic
rules and regulation, or the conditions set by the OWNERS, this
Memorandum of Agreement as to the said HOLDER shall be deemed
revoked and all the benefits of use of the VEHICLE shall be cancelled.
III. CONTRA-PROFERENTEM
Both the OWNER and the HOLDERS have actively participated in the
drafting of this instrument and that no provision in this MEMORANDUM OF
AGREEMENT shall be construed against any party.
IV. TERMINATION OF CONTRACT
a. That upon the termination of this agreement, the “SECOND PARTY”shall
turn over the Subject Vehicle for hire unit.
b. Grounds - Any time after the execution of this contract, this Agreement may be
terminated at the instance of ANY OR BOTH PARTIES hereto or by reason of
default described hereunder without prejudice to any other rights or remedies it
is entitled under this Agreement and applicable law.
c. Events of Default - Each of the following events shall constitute a valid ground
for default:
a. Any failure, neglect or inability on the part of either of the Parties

to comply with any of the terms and/or conditions of this
Agreement; and
b. Any misrepresentation or breach of warranty made in connection

herewith and proven to have been incorrect or misleading as of the
time it was made.
d. Procedure - Termination of this Agreement shall be by service to the other party

of a written Notice of Termination, which shall take effect thirty (30) days after
receipt of said written notice.
V. BREACH OF AGREEMENT .1 If Party B or Party C materially breaches any provision

under this Agreement, or fails to perform, performs incompletely or delays to perform
any obligation under this Agreement, it shall constitute a breach under this Agreement
on the part of Party B or Party C (as the case may be). Party A is entitled to require Party
B or Party C to rectify or take remedial measures. If within ten (10) days after Party A
delivers a written notice to Party B or Party C and requires for rectification (or within
any other reasonable period required by Party A), Party B or Party C (as the case may
be) fails to rectify or take remedial measures, Party A is entitled to, at its sole discretion,
(1) terminate this Agreement and require Party B or Party C (as the case may be) to
compensate all the losses; or (2) require specific performance of the obligations of Party
B or Party C (as the case may be) under this Agreement and require Party B or Party C
(as the case may be) to compensate all the losses. This Section shall not prejudice any
other rights of Party A under this Agreement. If “SECOND PARTY “materially
breaches any provision under this Agreement, or fails to perform, performs
incompletely or delays to perform any obligation under this Agreement, it shall
constitute a breach under this Agreement on the part of “FIRST PARTY (as the
case may be). “FIRST PARTY” is entitled to require “SECOND PARTY” to
rectify or take remedial measures. If within ten (10) days after “FIRST PARTY”
delivers a written notice to “SECOND PARTY”and requires for rectification (or
within any other reasonable period required by “FIRST PARTY”), “SECOND
PARTY” (as the case may be) fails to rectify or take remedial measures, “FIRST
PARTY” is entitled to, at its sole discretion, (1) terminate this Agreement and
require “SECOND PARTY” (as the case may be) to compensate all the losses; or
(2) require specific performance of the obligations of “SECOND PARTY” (as the
case may be) under this Agreement and require Party B or Party C (as the case
may be) to compensate all the losses. This Section shall not prejudice any other
rights of Party A under this Agreement.
VI. ENTIRE AGREEMENT

e. This agreement contains the complete understanding of both parties and may
not be amended, supplemented or varied except by an instrument in writing
signed by both parties. The validity and effectivity of this agreement shall be
governed by the Laws of the Republic of the Philippiines.
VII. DISPUTE RESOLUTION AND VENUE OF ACTIONS

f. In case of dispute, the parties will try to settle it amicably before resorting to
other legal remedies. Exclusive jurisdiction over and venue of suits arising from
this Agreement shall be with the proper courts of the City of Caloocan to the
exclusion of other courts or tribunals.
g. The Parties herein warrant that they have read and understood this Agreement
and bind themselves to its full and proper execution.
h. IN WITNESS WHEREOF, the parties set their hands in the place and date
abovementioned:
___________________________ _________________________
JASON ABALOS BONGULAN
Driver’s Lic: N04-07-017-607 Driver’s Lic:
OWNER/FIRST PARTY SECOND PARTY/HOLDER
________________________
ETHEL C. SUMAYLO
Tin Id No: 358-876-071-000
OWNER /FIRST PARTY

Memorandum of Agreement Mot2

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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

WHEREAS, the “SECOND PARTY “is the bearer of professional

a. That the amount of BOUNDARY/HULOG shall be 1,000.00 (one

a. Any failure, neglect or inability on the part of either of the Parties

b. Any misrepresentation or breach of warranty made in connection

d. Procedure - Termination of this Agreement shall be by service to the other party

V. BREACH OF AGREEMENT .1 If Party B or Party C materially breaches any provision

VI. ENTIRE AGREEMENT

VII. DISPUTE RESOLUTION AND VENUE OF ACTIONS

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