MEMORANDUM OF AGREEMENT (DRAFT)

MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT is made and executed at the City

of_______, this day of____, 2019 by and between:

Juanito Pabustan, of legal age, “citizenship”, with address at 6391 White Heron Ct. Las

Vegas NV 89139, now and hereinafter called as the “First Party”.

Darleen Villaver, of legal age, “citizenship”, with address at 6391 White Heron Ct. Las

Vegas NV 89139, now and hereinafter called as the “Second Party”.

Ma Jasmine Pabustan, of legal age, “citizenship”, with address at _______________

_______________________________, now and hereinafter called as the “Third Party”.

WITNESSETH:

WHEREAS, the herein parties are co-owners of a house and lot located at 6391 White

Heron Ct. Las Vegas NV 89139 with an area of ___ square meters and Certificate of Title

No.___;

WHEREAS, the first and second parties are currently occupying the subject house and

lot;

WHEREAS, the subject house and lot is under a financing agreement by and between

(Name of company) and the herein parties;

NOW, THEREFORE, the parties agree as follows:

MEMORANDUM OF AGREEMENT (DRAFT)

TERMS AND CONDITIONS

I. The FIRST and SECOND PARTIES hereby undertake to do as follows:

(a.) Sell the subject house and lot located at 6391 White Heron Ct. Las Vegas NV 89139 with

an area of ___ square meters and Certificate of title No.___on or before June 1, 2021;

(b.)Assume or pay in full the remaining balance of the financing agreement over the subject

property on or before June 1, 2021; OR

(c.) Have the financing agreement RESTRUCTURED or have it REFINANCED altogether,

removing the name of the THIRD PARTY from the same; AND

(d.)Pay, diligently and without delay, the monthly amortizations of the said financing

agreement pending compliance from any of the aforementioned conditions.

II. Upon failure of the FIRST and SECOND PARTIES to comply with their obligation

under this MEMORANDUM OF AGREEMENT, the THIRD PARTY shall be:

(a.)COMPENSATED by 50% of the total equity amount over the subject property;

(b.)ALLOWED to TAKE OVER the entire property;

(c.) ORDER the FIRST and SECOND PARTIES to immediately VACATE the

subject property within 60 days from non-compliance WITHOUT the need of

prior demand to vacate the premises; AND

(d.)ALLOWED to order the FIRST and SECOND PARTIES to sell their

corresponding shares to the THIRD PARTY and allow the latter to assume the

remaining balance of the loan amount.

MEMORANDUM OF AGREEMENT (DRAFT)

IN WITNESS WHEREOF we have hereunto affixed our signatures this _______ day of

_________________ 2019 at __________________, USA.

_________________________ _________________________

Juanito Pabustan Darleen Villaver

FIRST PARTY SECOND PARTY

_________________________

Ma Jasmine Pabustan

THIRD PARTY