MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement executed by and between:

ADRIENNE LANCE LAO DELOSO single to of legal age and a resident of 77 Block 2
Phase 1 Sandawa Road SIR New Matina Davao City, hereinafter referred to as the “FIRST
PARTY”.

-and-

PEOPLES LAND CORPORATION, a corporation duly organized and existing under

and by virtue of the laws of the Philippines, represented herein by PEOPLES LAND
CORPORATION represented by ALMIE ROSE R. CANETE, of legal age, Filipino, residing at
Blk 10 Lot 10 Hillcrest Matina, Davao City, Philippines and JAN JAN O. ITDANG, of legal
ages, Filipino, and with residence address at Purok 4 Upper Malagos Calinan, Davao City,
Philippines, hereinafter referred to as the “SECOND PARTY”.

Hereinafter collectively called, “the PARTIES”.

WITNESSETH THAT:

WHEREAS, the FIRST PARTY is the owner of a parcel of land embraces under
Transfer Certificate Title _______________, situated in at barrio ________, municipality
of ______________, containing an area of THIRTY SIX THOUSAND SQUARE METERS
(36,000) SQUARE METERS more or less, by virtue of a Deed of SALE dated ___________,
2023 executed by the registered owners thereof in their favor before ____________,
Notary Public of Davao City and entered in his notarial book as Document No. _______,
Page No.____, Book No. ___, Series of 2022

WHEREAS, the FIRST PARTY desires to assign and transfer the subject property to
the SECOND PARTY and the SECOND PARTY accedes to the same, with the obligation to
subdivide the subject parcel of land, market, develop and sell the derivative lots to
prospective buyers.

WHEREAS, the FIRST PARTY assures SECOND PARTY that the current registered
owner will execute the necessary Deed of Transfer in favor of the SECOND PARTY.
NOW, THEREFORE, for and in consideration of the foregoing premises and the
stipulations and covenants hereinafter provided, the PARTIES hereby agree as follows:

1.) The FIRST PARTY and the SECOND PARTY agree that the SECOND PARTY shall subdivide,
market, develop and sell farm lots of the subject parcel of land.
2.) The expenses related to the subdivision, marketing and sales shall be for the account of
both SECOND PARTY, including all costs related with the transfer of the registration of
the subject parcel of land unto SECOND PARTY. Road systems, water works and drainage
system, development plans, and titling/registration costs to the perspective buyer after
full payment, shall be for the account of BOTH parties.
3.) The net profit sharing of the parties shall be as follows:

a. 15% of the gross of any sale shall belong to the sales agent.
b. Cost of development shall be deducted on the monthly share.
c. The remaining balance of the NET PROFIT shall be divided by the parties, viz:
i. 50% shall belong to the FIRST PARTY.
ii. 50% shall belong to the SECOND PARTY.

4.) The SECOND PARTY shall submit monthly collection report and summary of expenses to
____________ and pay to the FIRST PARTY their share in the net profit by bank deposit
to that effect every 30th day of the current month.

5.) The SECOND PARTY shall account for all transactions involved in this Agreement in
accordance with general accounting practices. The SECOND PARTY shall produce a
financial statement every month, to be endorsed to the FIRST PARTY along with the
monthly check as mentioned in the previous paragraph.

6.) All parties confirm that all is fully empowered legally qualified and duly authorized to
execute and deliver this agreement and to be bound by its terms and conditions. All
documents and presentations under this agreement are made with full legal corporate
responsibility.

7.) NON CIRCUMVENTION, All of the undersigned obligations contained in this agreement
are mutual and reciprocal. It shall be binding on the parties, their subsidiaries, agents,
brokers, divisions, associates, and employees, heirs,(10) years from the date affixed
above and is to be applied to any and all transaction regardless of the corporation,
individuals, buyers, and sellers who are currently the holder of the property of the
introductory party and shall remain so for the duration of this agreement.

8.) CONFIDENTIALITY. This agreement shall be kept confidential and is not to be

reproduced in any manner whatever except on a need to know basis. Except as may be
otherwise stated in this agreement or as required by law, the parties shall obtain the
written consent of the other party before this Agreement or the relationship described
herein is published in any publication media or marketing material. Further, this
agreement and related information shall be given only to the persons or entities directly
involved with the closing of this transaction, any details of this agreement shall not, in a
way, be disclosed to personnel, and workers of ALL PARTIES. Finally, the parties shall
not, in contributing to, delivering and/or promoting (or in any other way) do any act
 which would or could reasonably be expected to exploit the other party or bring it into
disrepute.

9.) AMENDMENT AND ASSIGNMENT. This agreement may be amended, modified, or

superseded, and any term or provision hereof may be waived, only in writing, by both
parties or, in the case of a waiver, by the party waiving compliance. The parties agree
and understand that either party shall not have the right to assign, transfer, convey or
otherwise dispose any of its rights, interests or obligations under this Agreement
without securing the prior written consent of the other.

10.) Lastly, the parties shall mutually cooperate with each other and extend their
best efforts in order to achieve the objectives of this Agreement. This Agreement
contains all the terms agreed to by the parties relating to its subject matter, particularly
the subject parcel of the land and replaces all previous discussions, understandings, and
agreements. Any dispute involving the provisions of this Agreement shall be filed in the
courts of Davao City.

FIRST PARTY

_________________________ ______________________
ADRIENNE LANCE LAO DELOSO
SECOND PARTY/ PEOPLES LAND CORPORATION represented herein by:

ALMIE ROSE R. CANETE JAN JAN O. ITDANG

President CEO

SIGNED IN THE PRESENCE OF:

SHANNA MABIEN P. ASIS
PLC, Corporate Secretary

REPUBLIC OF THE PHILIPPINES )SS

CITY OF DAVAO )SS

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public, for and in ____________, this _____________, personally
appeared the following persons, exhibiting to me their competent evidence of identity first
written above below their names.
NAME Competent Evidence of Identity (CEI)
ALMIE ROSE R. CANETE L02-06-013037
JAN JAN O. ITDANG L02-10-014556
 Known to me and to me know to be the same persons who executed the foregoing
Memorandum of Agreement constituting of two (2) pages, including this page where the
acknowledgement is written, and they acknowledged to me that the same is their free and
voluntary act and deed.
WITNESS MY HAND AND SEAL on the date and place above written.

Doc No. _____;

Page No. _____;
Book No. ____;
Series of 20___.