MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT is made and executed in Quezon

City, Metro Manila, Philippines this day of ___________________ by and between:

JEFFERSON TAPEL, of legal age, Filipino citizen, married and with

residence and postal address at No. 69 J. P. Rizal Street Santa Lucia
Novaliches Quezon City 1117, hereinafter referred to as the FIRST PARTY

-and-

REYNALDO LAYUGAN CAMBARI, of legal age, Filipino Citizen, married,

with residence and postal address at No. 95 Kaliraya Street Bulanos State
Tatalon Quezon City 1113, hereinafter referred to as the SECOND PARTY;

WITNESSETH; That

WHEREAS, THE FIRST PARTY is the registered owner of the MOTOR

VEHICLE, subject of this MEMORANDUM OF AGREEMENT particularly
described as follows:

MAKE & TYPE : KAWASAKI MOTORCYCLE w/ sidecar

SERIES : BC175H
ENGINE : BC175AEB40524
CHASSIS NO. : BC175H-B57959
MV FILE NO. : 1380-00001022479
OFFICIAL RECEIPT : 1446916376
CERTIFICATE OF REGISTRATION : 320496713

WHEREAS, THE FIRST PARTY agrees to sell out the MOTOR VEHICLE to
the SECOND PARTY who is willing to buy the same;

NOW, THEREFORE, for and in consideration of the SUM OF

THIRTY FIVE THOUSAND AND 00/100 PESOS ONLY (P35,000.00), the
FIRST PARTY sell unto the SECOND PARTY who hereby accepts from the
FIRST PARTY the sold motor vehicle, subject of the following terms and
conditions, to wit:

ASSUMPTION OF MORTGAGE: The MOTOR VEHICLE sold is still the

subject of the Contract of Loan with Chattel Mortgage constituted over the
same vehicle in favor Motortrade-Bagbag which shall assumed by the
SECOND PARTY for the same terms and conditions with that of the FIRST
PARTY, particularly, the remaining balance of SEVENTY FOUR THOUSAND
FOUR HUNDRED NINETY FIVE & 00/100 PESOS ONLY\(P74,495.00), with
monthly amortization amounting to Four Thousand Two Hundred Twenty
Three Pesos (P4,223.00), payment due every 21st of the month starting March
2019 up to July 2021.

That in the event that the SECOND PARTY failed to pay the amortization, the
SECOND PARTY shall be obliged to pay the penalty per month;

IN WITNESS WHEREOF, the parties hereby affix their signature this ___th day
of ___________, ______, at ____________________________, Philippines.

CONFORME:
__________________________ _____________________
SECOND PARTY/Vendee FIRST PARTY/Vendor
REYNALDO LAYUGAN CAMBARI JEFFERSON TAPEL

SIGNED IN THE PRESENCE OF:

____________________________ _____________________
MARVIN V. ABANTE