LIVING TRUST OF LIFE INSURANCE

KNOW ALL MEN BY THESE PRESENTS:

THIS LIVING TRUST made and executed this 30th day of November 2017 in Quezon City by and
between:

PEDRO PENDUKO of legal age, Filipino and a resident of #42 Central Ave., Brgy. New Era
Quezon City), hereinafter called the “POLICY OWNER/ TRUSTOR”;

-and-

MARS RAVELO of legal age, Filipino and a resident of Unit 1234, Lot 1, Block 2, Phase 3
Kingspoint Subdivision, Bagbag, Novaliches, Quezon City), hereinafter called “TRUSTEE”;

WITNESSETH:

That the POLICY OWNER / TRUSTOR has designated the TRUSTEE as such, and the latter
has accepted such designation under the terms of this LIVING TRUST for the BENEFICIARIES in the
following life insurance policy:

THE TIME IS NEAR LIFE INSURANCE CORPORATION (TIN) Policy Number 87965456 with
face value/amount of ONE MILLION PESOS (P1,000,000.00), LIFE INSURANCE (Plan) issued as of
June 20, 2015 with ROBERTO DURAN as INSURED and JUPITER and SATURN RAVELO as
BENEFICIARIES.

TERMS AND CONDITIONS:

That, the duty and responsibility of paying the premiums and other charges on the said policy shall
rest solely upon the POLICY OWNER / TRUSTOR;

That, this LIVING TRUST shall be operative only with respect to the net proceeds of such policy
as may be due and payable upon the death of the INSURED during the minority of the
BENEFICIARIES; and during his lifetime, all rights and interest accruing solely to the POLICY
OWNER / TRUSTOR are hereby reserved by him and may be exercised by him with/without the
knowledge or consent of the TRUSTEE or the BENEFICIARIES, unless Irrevocable, under this
LIVING TRUST;

That, the POLICY OWNER / TRUSTOR also reserves the right to modify, amend, add to, or
revoke this LIVING TRUST;

That, as soon as practicable after the death of the INSURED, the TRUSTEE shall make the claim
and establish proper proof of death and shall collect all money due under the said policy and give
the insurer receipts and proceeds of the said policy;

That, the TRUSTEE shall acquire, receive, hold, manage, invest, or otherwise deal with the monies
realized from such policy as he shall deem to be for the best interest of the BENEFICIARIES during
their minority to the same extent that the POLICY OWNER/TRUSTOR if living might do;

That, the TRUSTEE shall deliver the trust estate, together with any and all earnings to the
BENEFICIARIES upon reaching the age of majority, or upon demand of a duly appointed Legal
Guardian of the property of said BENEFICIARIES. Provided, that during the minority of the
BENEFICIARIES, the net proceeds of the policy and their incomes and earnings shall be spent and
 utilized only primarily for the support and education of the BENEFICIARIES in accordance with
their personal interests;

That, the TRUSTEE reserves the right to resign/revoke this trusteeship during INSURED’s
lifetime by giving the POLICY OWNER/TRUSTOR within thirty days notice in writing, but after
the death of the INSURED only for the cause satisfactory to the BENEFICIARIES or the heirs of
the INSURED;

That, the POLICY OWNER/TRUSTEE does hereby bind and obligate himself, his assigns, to
indemnify and save the TIME IS NEAR LIFE INSURANCE CORPORATION harmless from any
and all claims that may arise by reason of such payments;

IN WITNESS WHEREOF, the POLICY OWNER/TRUSTOR has executed this LIVING

TRUST and the TRUSTEE has accepted at the place on the date first hereinafter mentioned.

ACCEPTED

PEDRO PENDUKO MARS RAVELO

POLICY OWNER/ TRUSTOR TRUSTEE

Signed in the presence of:

JOHN DOE JANE DOE

WITNESS WITNESS
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_______________________________ )SS.

BEFORE ME a Notary Public for and in Quezon City, this 30th day of November 2017 personally
appeared:

The OWNER, PEDRO PENDUKO, with PhilHealth No. 05-032180723-3. The

USUFRUCTUARY, MARS RAVELO, with Professional Driver’s License No. N02-79854-4545.
WITNESS JOHN DOE with Senior Citizen ID No. 00567985; WITNESS JANE DOE with Non-
Professional Driver’s License No. N03-94857-212, are personally known to me and known to be the same
persons who executed and signed the foregoing instrument, and they acknowledged to me that the same is
their free and voluntary act and deed.

This LIVING TRUST consists of 3 pages including the page in which this acknowledgement is
written, signed by the parties and their instrumental witnesses.

WITNESS MY HAND AND NOTARIAL SEAL, on the date at the place first written above.

Atty. Ricky D. Companiero

Notary Public
Doc. No. 212;
Page No. 54;
Book No. 3;
Series of 2017