AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT is entered into by and between:

FRANCIA PURA C. HERNANDEZ, of legal age, single, Filipino,

resident of 19 Liboton St., Naga City, for herself and in behalf of her
brothers, namely, JOSEPH C. HERNANDEZ, JACK C. HERNANDEZ and
JESUS FEDERICO C. HERNANDEZ, all of legal age, single, Filipinos, and
residents of the same address, pursuant to a Special Power of Attorney
dated May 31, 2019 hereto attached and made an integral part hereof,
hereinafter called the MORTGAGORS; and

JOEL O. YAO, of legal age, Filipino, married to Zarah Jane D. Yao,

with business address at #70 Peńafrancia Avenue, Naga City 4400,
hereinafter called the MORTGAGEE;

WITNESSETH:

1. That the MORTGAGORS are the co-owners of the following

parcels of land, to wit:

TRANSFER CERTIFICATE OF TITLE NO. 1229

(now TRANSFER CERTIFICATE OF TITLE NO. ____)
(LOT 2-A, (LRC) PSD-19872)

“A parcel of land (Lot 2-A of the subdivision plan (LRC)

Psd-19872, being a portion of Lot 2, described on plan Psu-
117128, LRC (GLRO) Record No. N-2940), situated in the
Barrio of Bagumbayan, City of Naga, Island of Luzon.
Bounded on the N., points 4 to 6, by property of Paulo
Tanguilog; points 6 to 7, by property of Marcial Deliva; points 7
to 8, by property of Eleseo Cledera; points 8 to 9, by property of
Teodorico Valerio (now Jesus Hernandez); and points 9 to 10,
by property of Juan Yamson; on the SE., points 10 to 1, by
Lot 2-B of the subdivision plan; on the SW., points 1 to 3, by
property of the Heirs of Ceferino Arroyo; and points 3 to 4, by
property of Fermina Opinion, containing an area of TWO
THOUSAND THREE HUNDRED FIFTEEN (2,315) Square
Meters, more or less.”

TRANSFER CERTIFICATE OF TITLE NO. 2647

(now TRANSFER CERTIFICATE OF TITLE NO. ____)

“A parcel of land (Lot 1, plan Psu-121722, Case No. N-384,

G.L.R.O Record No. N-4159), situated in the Barrio of
Liboton, City of Naga. Bounded on the N., by Lot 2; on the
E., by property of Juan Yamson; on the S., by property of
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Domingo Diaz (Concepcion Abella); and on the W., by

property of Eliseo Cledera, containing an area of FIVE
HUNDRED SEVENTY NINE (579) Square Meters, more or less.”

“A parcel of land (Lot 2, plan Psu-121722, Case No. N-384,

G.L.R.O. Record No. N-4159), situated in the Barrio of Liboton,
City of Naga. Bounded on the NE. by the Liboton Street; on the
E. by property of Juan Yamson; on the S. by Lot 1; and on the W.
by property of Eliseo Cledera, containing an area of FORTY
EIGHT (48) SQUARE METERS, more or less.

and all the improvements existing thereon.

2. That the MORTGAGORS have executed a Deed of Mortgage in

favor of the MORTGAGEE, involving the afore-described parcels of land
and the improvements existing thereon, in the amount of NINETEEN
MILLION PESOS (P19,000,000.00),Philippine Currency;

3. That to pay the said NINETEEN MILLION PESOS (P19,000,000.00)

and the corresponding agreed monthly interests, the MORTGAGORS are
issuing the following post dated checks to the MORTGAGEE:

QUEENBANK Check No. Date Amount

2073082 August 12, 2019 P760,000.00
2073083 September 12, 2019 P760,000.00
2073084 October 12, 2019 P760,000.00
2073085 November 12, 2019 P760,000.00
2073086 December 12, 2019 P760,000.00
2073087 January 12, 2020 P19,000,000.00

4. That once this Agreement is signed by the parties, all original

copies of the documents needed to transfer the titles of the afore-
described properties and the improvements thereon in the names of the
MORTGAGORS shall be surrendered to the MORTGAGEE who shall be
the one to cause the transfer and/or registration of the properties in the
name of the MORTGAGORS. For this purpose, the MORTGAGORS shall
execute a Special Power of Attorney in favor of the MORTGAGEE and/or
the latter’s wife, ZARAH JANE D. YAO.

5. That the Deed of Mortgage executed by the herein parties shall be

annotated in the two (2) Certificates of Title of the subject properties. All the
expenses relative thereto shall be shouldered by the MORTGAGORS.

6. That this Agreement supersedes and cancels the previous

Agreements executed by the herein parties.

IN WITNESS WHEREOF, the parties have hereunto set their

hands, this 12th day of July 2019 at Naga City, Philippines.
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FRANCIA PURA C. HERNANDEZ JOEL O. YAO

For herself and in behalf of (MORTGAGEE)
Joseph C. Hernandez
Jack C. Hernandez and CONFORME:
Jesus Federico C. Hernandez
(MORTGAGORS)
ZARAH JANE D. YAO
(MORTGAGEE’S WIFE)

SIGNED IN THE PRESENCE OF:

________________________ and ________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF NAGA )S.S

BEFORE ME, a Notary Public in the Naga City this 12 th day of

July 2019, personally appeared:

FRANCIA PURA C. HERNANDEZ - Postal ID PRN F57180696228 which is

valid until November 27, 2021

JOEL O. YAO - SSS ID No. 05-0403820-6

known to me to be the same persons who executed and voluntarily

signed the foregoing Agreement which they acknowledged before me as
their own free and voluntary act and deed.

This instrument, consisting of three (3) pages, including the page on

which this acknowledgment is written, has been signed on each and every
page thereof by the parties and their witnesses, and sealed with my
notarial seal.

WITNESS MY HAND AND SEAL on the date and place first above
written.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2019.