MEMORANDUM OF AGREEMENT

This Memorandum of Agreement is made and duly executed in the City of San Fernando this
___th day of October , 2018 by and between:

CASTILLO LENDING INC., (CLI), a corporation duly organized and existing by

virtue of the Laws of The Republic of the Philippines located at GAN Buidling, Unit
1 & 2, Mac Arthur Highway, Brgy., San Nicolas, San Fernando, Pampanag
represented by Emilio Castillo and Jenifer Castillo as President and Treasurer
of the Corporation (hereinafter collectively referred to as the " First Party”).

-AND

SPOUSES ANTONIO JACOB ELIZAGA married to LIWEI Z. ELIZAGA, both of

legal age, Filipino with address at # 707 Ongpin St.,Binondo, Manila (hereinafter
collectively referred to as the “Second Party”).

WITNESSETH, THAT:

WHEREAS, the first party granted a loan in the amount of

__________________________________________________________________
(PHP_______________________) to the second party evidenced by a loan agreement, a copy
of which is hereto attached and formed part of the agreement.

WHEREAS, To ensure the payment of the loan, the FIRST PARTY required the SECOND PARTY
to surrender the two title to his property located AT #805 ECHELON TOWER, 2100 A. MABINI
STREET, MALATE, MANILA WITH TCT NO. 010-2015002302 AND TCT NO. 010-2015002301
as collateral for the loan.

NOW, THEREFORE, for and in consideration of the foregoing premises, the FIRST PARTY AND
SECOND PARTY agree and stipulate that:

1. To ensure the payment of the loan, the FIRST PARTY required the SECOND PARTY to
surrender the two title to his properties located at #805 ECHELON TOWER, 2100 A. MABINI
STREET, MALATE, MANILA with TCT NO. 010-2015002302 and TCT NO. 010-2015002301 as
collateral for the loan.

2. The SECOND PARTY undertakes to file a loan application in NORTH POINT

DEVELOPMENT BANK on ___________.

3. That BOTH PARTIES agreed that upon the approval of the loan application of the SECOND
PARTY from NORTH POINT DEVELOPMENT BANK and upon the release of the proceeds of
the said loan, the SECOND PARTY will pay its loan to the FIRST PARTY.

4. That upon the receipt of the FIRST PARTY of the payment of the loan, the FIRST PARTY will
cancel the loan agreement and considered the SECOND PARTY as fully paid of all of his loan
obligations to the FIRST PARTY.
5. That by virtue also of the payment of the loan, the FIRST PARTY will automatically cancel the
real estate mortgage constituted over properties with TCT NO. 010-2015002302 and TCT NO.
010-2015002301 located at #805 ECHELON TOWER, 2100 A. MABINI STREET, MALATE,
MANILA.

EMILIO CASTILLO JENIFER CASTILLO

REPRESENTATIVE OF CLI REPRESENTATIVE OF CLI
FIRST PARTY FIRST PARTY

ANTONIO JACOB ELIZAGA LIWEI Z. ELIZAGA

SECOND PARTY SECOND PARTY

WITNESSES
___________________________ _____________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF PAMPANGA ) S.S.

BEFORE ME, a Notary Public for and in the City of Makati, personally appeared:

Date/Place
Name ID No. of Issue
1.EMILIO P CASTILLO
2.JENIFER C.
CASTILLO
3. ANTONIO JACOB
ELIZAGA

4. LIWEI Z. ELIZAGA

known to me and by me known to be the same persons who executed the foregoing Loan
Agreement and who further acknowledged to me that the same is their free and voluntary
act and deed and that of the corporations they represent, and that they are duly authorized
to sign the same.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal in the
City of Pampanga this _______ day of OCTOBER, 2018.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2018.