Memorandum Of Agreement Of Sale.docx

MEMORANDUM OF AGREEMENT KNOW ALL MEN BY THESE PRESENTS: This MEMORANDUM OF AGREEMENT is made and executed in Quezon City, Metro Manila, Philippines this day of ___________________ by and between: JEFFERSON TAPEL, of legal age, Filipino citizen, married and with residence and postal address at No. 69 J. P. Rizal Street Santa Lucia Novaliches Quezon City 1117, hereinafter referred to as the FIRST PARTY -andREYNALDO LAYUGAN CAMBARI, of legal age, Filipino Citizen, married, with residence and postal address at No. 95 Kaliraya Street Bulanos State Tatalon Quezon City 1113, hereinafter referred to as the SECOND PARTY; WITNESSETH; That WHEREAS, THE FIRST PARTY is the registered owner of the MOTOR VEHICLE, subject of this MEMORANDUM OF AGREEMENT particularly described as follows: MAKE & TYPE SERIES ENGINE CHASSIS NO. MV FILE NO. OFFICIAL RECEIPT CERTIFICATE OF REGISTRATION

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KAWASAKI MOTORCYCLE w/ sidecar

BC175H BC175AEB40524 BC175H-B57959 1380-00001022479 1446916376 320496713

WHEREAS, THE FIRST PARTY agrees to sell out the MOTOR VEHICLE to the SECOND PARTY who is willing to buy the same; NOW, THEREFORE, for and in consideration of the SUM OF THIRTY FIVE THOUSAND AND 00/100 PESOS ONLY (P35,000.00), the FIRST PARTY sell unto the SECOND PARTY who hereby accepts from the FIRST PARTY the sold motor vehicle, subject of the following terms and conditions, to wit: ASSUMPTION OF MORTGAGE: The MOTOR VEHICLE sold is still the subject of the Contract of Loan with Chattel Mortgage constituted over the same vehicle in favor Motortrade-Bagbag which shall assumed by the SECOND PARTY for the same terms and conditions with that of the FIRST PARTY, particularly, the remaining balance of SEVENTY FOUR THOUSAND FOUR HUNDRED NINETY FIVE & 00/100 PESOS ONLY\(P74,495.00), with monthly amortization amounting to Four Thousand Two Hundred Twenty Three Pesos (P4,223.00), payment due every 21st of the month starting March 2019 up to July 2021. That in the event that the SECOND PARTY failed to pay the amortization, the SECOND PARTY shall be obliged to pay the penalty per month;

IN WITNESS WHEREOF, the parties hereby affix their signature this ___th day of ___________, ______, at ____________________________, Philippines.

CONFORME:

__________________________ SECOND PARTY/Vendee REYNALDO LAYUGAN CAMBARI

_____________________ FIRST PARTY/Vendor JEFFERSON TAPEL

SIGNED IN THE PRESENCE OF: ____________________________

_____________________ MARVIN V. ABANTE