AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is made and executed by and between:

LEONARDA T. LICTAOA, of legal age, Filipino, single, and a resident of San Juan, La Union, Philippines, (hereinafter referred to as the "OBLIGOR";

- and -

DIOSDADO C. MENDOZA, of legal age, Filipino, married, and a resident of Purok 2, Sevilla, San Fernando City, La Union, Philippines, (hereinafter referred to as the "OBLIGEE";

WITNESSETH; That -

WHEREAS, the OBLIGOR is the registered owner of a commercial building/structure situated at in front of DMMMSU-MLUC at Catbangen, San Fernando City, La Union, Philippines with an area of 17 square meters. WHEREAS, the OBLIGEE desires to lend money to OBLIGOR in the amount TWO HUNDRED THOUSAND PESOS (Php 200,000.00) setting as security the afore-described property and the OBLIGOR accepts the conditions subject to the terms and conditions herein set forth.

Now, therefore, for and in consideration of the foregoing premises and the covenants hereinafter stipulated, the parties hereby agree as follows:

A. Time of Payment The OBLIGOR is given until the end of January 2015 to pay the principal amount of Php 200,000.00 with an interest of 10%. But the OBLIGEE gives an additional 1 month to the OBLIGOR to settle her obligation if not settled within the previous described time.

B. Delay or Default in Payment - Should the OBLIGOR fail to pay the total amount due (principal and interest) in accordance with the immediately preceding paragraph, the OBLIGEE shall enter the above described property and will operate said commercial stall/structure;

C. Transfer of Ownership - To secure the payment of the obligation of the OBLIGOR under this Agreement, title or ownership over the above described property is expressly reserved by the OBLIGOR in favor of the OBLIGEE. The OBLIGOR shall be mandated to convey the ownership of the above described property by way of sale;

IN WITNESS WHEREOF, the parties have hereunto set their hands and affixed their signatures this _____________ at _____________, Philippines.

LEONARDA T. LICTAOADIOSDADO C. MENDOZAOBLIGOROBLIGEE

SIGNED IN THE PRESENCE OF:

________________________________________________________________________

REPUBLIC OF THE PHILIPPINES)CITY OF SAN FERNANDO, LU) SS.x-----------------------------------------x

BEFORE ME, a Notary Public for and in the City of San Fernando, Province of La Union, personally appeared LENOARDA T. LICTAOA, and DIOSDADO C. MENDOZA, both personally known to me and whom I have identified through competent evidence of identity:

LENOARDA T. LICTAOACTC # 04508883 2/6/14 SFCDIOSDADO C. MENDOZACTC # 04563656 2/28/14 Bauang, LU

and who represented to me that their respective signatures on the foregoing instrument were voluntarily affixed by them for the purposes stated in the instrument and who declared that they have executed the foregoing instrument as their free and voluntary act and deed.

This Instrument consists of only four pages, including this page in which this acknowledgment is written, duly signed by the parties and their instrumental witnesses on each and every page hereof.

WITNESS MY HAND AND SEAL this _____________ at San Fernando City, La Union, Philippines.

GILBERT RUIZ HUFANANotary Public until December 31, 2015Roll No. 61392 (03.27.2012)IBP No. 933255 (12.23.2013)PTR No. 0131447 (01.07.2014)TIN 920-960-030

Doc. No. ______;Page No. ______;Book No.______;Series of 2014.