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CONTRACT OF UNDERTAKING

This Contract is entered into by and between:

Ronaldo Pamintuan Carino, of legal age, Filipino Citizen

and residing at C-55 Bangus Street, Kapitbahayan, Navotas,
Metro Manila, hereafter referred as the First Party;

and

Ruben O. Macaroyo, of legal age, Filipino Citizen, Widower

and residing at No. 1823 San Marcelino Street, Malate, Manila,
hereafter referred as the Second Party;

WITNESSETH:

1. The First Party is the Buyer of about One Half (1/2) of

the land area of the Real Property as described in T.C.T. No.
C-382343 which consists of about fifty (50) Square Meters, more
or less;

2. That the Subject Real Property as described in

T.C.T. No. C-382343 is situated at Maypajo, Caloocan City;

3. That the Second Party herein is the Registered and

Absolute Owner of that Real Property described under
T.C.T. No. C-382343, together with all the improvements and
Buildings built thereon;

4. That the Second Party Warrants and Guarantees that

the Subject Real Property as described under
T.C.T. No. C-382343 is FREE from all LIENS and
ENCUMBRANCES;

5. That upon payment of the Selling Price of

P400, 000.00, as agreed upon by the Buyer/First Party unto the
Seller/Second Party, the same shall take possession of the
Subject Real Property (which is about 50 Square Meters, More or
Less of the Total Land Area as described under
T.C.T. No. C-382343 ) ;

6. That in so far as the other half (or the 50 Square

Meters, the remaining Portion of the Real Property under
T.C.T. No. C-382343), the Ownership and Possession of the same
shall remain unto the Second Party;
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7. The Parties herein agree that the cost and expenses

for the segregation of the Real Property as described under
T.C.T. No. C-382343, as well as the Transfer of their Respective
Share or Ownership shall be for the account of the Parties
herein together with the Payment of all Taxes (Local or National);

8. That the Second Party shall turn-over to the First

Party the Owner’s Copy of T.C.T. No. C-382343 for Safekeeping
and/or as a TRUSTEE;

9. The First Party shall not take any Step to Transfer

Ownership (For the Whole Area) of the Title as described under
T.C.T. No. C-382343;

10. That any Transfer or ownership and/or Segregation of

Title shall be simultaneous in character (For T.C.T.
No. C-382343 Shall be simultaneous in character);

11. The Parties herein have thirty (30) days from Notice to
simultaneously Segregate and/or Transfer ownership of the Real
Property as described under T.C.T. No. C-382343;

12. That the Second Party acknowledges and confess

receipt of the amount of Four Hundred Thousand Pesos
(P400,000.00) in Philippine Currency, Paid by the First Party
which is the amount of the agreed Selling Price of that 50 Square
Meters, More or Less;

13. The parties herein agree to observe and Strictly

Comply with the Terms and Conditions of this Contract.

IN WITNESS WHEREOF, the herein Parties affix their

signature this 23rd day of July, 2013 at Manila, Philippines.

____________ ______________
FIRST PARTY SECOND PARTY

Witnesses:

1. ___________ 2. _____________
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REPUBLIC OF THE PHILIPPINES )

City of MANILA ) S.S.

ACKNOWLEDGMENT

BEFORE ME, NOTARY PUBLIC, this _____ day of

______________ 2013 in the City of Manila, personally came and
appeared the following:

RUBEN C. MACAROYO Driver’s License No.N03-289682,

issued at Quezon City
Expiry date: 2012-05-05

Philippine National Police

ID No.11B100270
issued on 02/10/2012
with expiry date: 05/05/2014

RONALDO PAMINTUAN _______No. ____________

CARINO Date and Place of Issue
_______________________
_______________________

_______No. ____________
Date and Place of Issue :
_______________________
_______________________

Known to me to be the same persons who executed the

foregoing instrument and they acknowledge to me that the same
is their free act and deed.

This Instrument refers to a Contract of Undertaking

consisting of three (3) pages including the page where this
Acknowledgment is written, signed by the parties and their
instrumental witnesses on each and every page thereof.

WITNESS MY HAND AND SEAL on the date and place

above-written.

NOTARY PUBLIC

Doc. No.
Page No.
Book No.
Series of 2013