COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Compromise Agreement (the Agreement) is made and

entered into this 27th day of November 2018 at Caloocan City by
and between:

HUGO A. IRAN, Filipino, of legal age and a

resident of Blk 26 Lot 17 Ph 2 Mod 3, D. Dgtn. Extn.,
Brgy. 35, Caloocan City (herein referred to as the “First
Party”);

- and -

ROLITO S. PIÑON, Filipino, of legal age and a

resident of No. 45, Sulucan St., Hulong Duhat, Malabon
City (herein referred to as the “Second Party”);

WITNESSETH

WHEREAS, the First and Second party herein are parties in

Civil Case No. 130-1113: Complaint for Sum of Money (the “Case”);

WHEREAS, for the purpose of buying peace, the parties have

agreed to enter into this Agreement subject to the terms and
conditions indicated below;

NOW THEREFORE, for and in consideration of the foregoing

premises, the parties hereby agree as follows:

1. The Second Party undertake to pay the amount of Four

Hundred Seventy-Five Thousand Pesos (₱475,000.00) in
favor of the First Party for the purpose of buying peace and
terminating the afore-quoted case filed by the First Party
against the Second Party without the latter necessarily
admitting liability thereof.

2. Upon signing of this Agreement or on 3 December 2018, the

Second Party shall pay in cash, in favor of the First Party,
the amount of One Hundred Thousand Pesos (₱100,000.00)
representing the partial down payment of the above-quoted
consideration. Receipt thereof is hereby acknowledged by the
First Party.

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 3. The Second Party shall issue a Manager’s Check dated 3
January 2019, in favor of the First Party, in the amount of
Seventy-Five Thousand Pesos (₱75,000.00) representing the
balance of the down payment of the above-quoted
consideration. Receipt of said check is hereby acknowledged
by the First Party.

4. The Second Party shall pay the remaining balance of Three

Hundred Thousand Pesos (₱300,000.00) in six (6) monthly
installments commencing from 3 February 2019 to 3 July
2019.

5. Pursuant thereto, the Second Party shall issue six (6) checks
in the amount of Fifty Thousand Pesos (₱50,000.00), each
check representing the balance amount as stated above. The
said checks shall be dated monthly for six (6) consecutive
months commencing from 3 February 2019 to July 3 2019.
The foregoing checks shall be issued on or before 3 February
2019.

6. The First Party shall cause the dismissal of the case against
Second Party upon receipt of the full payment of all
installments indicated above. However, in the event that the
Second Party fails to pay any of the installment as stated or
his issued check bounced for whatever reason, the case
instituted by the First Party against the Second Party shall
revive automatically upon Manifestation of the First Party to
the Court having jurisdiction over the case.

7. In the event judicial relief against the Second Party is filed

before the court, for the enforcement of the terms and
conditions in the Agreement, the Second Party, in addition to
any other damages that may be awarded by the Court, agrees
to pay ten percent (10%) of the amount claimed but in no case
less than Ten Thousand Pesos (₱10,000.00) as attorney’s fees,
aside from the cost of litigation and other expenses which the
law entitles the First Party to recover. The parties agree the
venue of court action is in the proper courts of Caloocan City.

IN WITNESS WHEREOF, we have hereunto set our hands

this 27th day of November 2018 at Caloocan City.

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 HUGO A. IRAN ROLITO S. PIÑON
Plaintiff Defendant

SIGNED IN THE PRESENCE OF:

_______________ _______________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF CALOOCAN ) S.S.
x----------------------------------------------------x

BEFORE ME, this 27th day of November 2018 in Caloocan

City, Philippines, personally appeared:

_________________ Professional Driver’s License No. M-13-11-

0112233 / expires on 11-13-2020
_________________ Passport No. E1547854 / issued on 6-5-2018 /
valid until 6-5-2023

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

instrument consisting of three (3) pages including this page and
they acknowledged to me that the same is their own free, voluntary
act and deed.

WITNESS MY HAND AND SEAL.

Doc. No._____;
Page No._____; HUGO L. IRAN, JR.
140 Barrio Calaanan, EDSA, Caloocan City
Book No._____; PTR No. 255827-01/03/2017
Series of 2018. TIN 452-100-612
IBP Lifetime Member No. 02773
Roll of Attorneys No. 69176
MCLE Compliance No. V-0024008

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