ACKNOWLEDGMENT RECEIPT

This is to acknowledge that we have received:

1. Bank of the Philippine Islands (BPI Mc Arthur Drive Jaro Iloilo City
Branch) Managers Check with number 0000000847 in the amount of
FOUR MILLION EIGHT HUNDRED NINETY FIVE THOUSAND
FIVE HUNDRED FORTY (P4,895,540.00) PESOS, Philippine
Currency; and

2. ONE HUNDRED FOUR THOUSAND FOUR HUNDRED SIXTY

(P104,460.00) PESOS, Philippine Currency, in cash

from spouses ELARPIO C. ALIPIO, JR. and JEAN C. ALIPIO as

payment for the purchase of lots subject of a Deed of Absolute Sale
dated _____________ and contained under Doc No.:___; Page
No.:___; Book No.:___: Series of 2011 of Notary Public: Atty. Jenny H.
Sayat and for other transactions.

this 4th day of March 2011 in the City of Iloilo, Philippines.

ROGELIO ARA-OJO MARIETTA ARA-OJO