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COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Compromise Agreement made and executed this 4th day


of December 2017at , by and between:

-and-

WITNESSETH: That

WHEREAS, instituted a civil case for Collection


of Sum of Money against under Civil Case No.
pending before 10th Judicial Region, Municipal Trial Court in
Cities, captioned as ;

WHEREAS, has unpaid balances for


in the amount of TWO HUNDRED NINETY SEVEN THOUSAND
SIX HUNDRED FORTY EIGHT PESOS (Php 297,648.00);

WHEREAS, for goodwill desired by both parties, herein Parties


agree to settle this case whereby agrees to pay
the amount TWO HUNDRED NINETY SEVEN THOUSAND SIX
HUNDRED FORTY EIGHT PESOS (Php 297,648.00) plus FORTY
THOUSAND PESOS (Php 40,000.00) as reimbursement to the expenses
made by to file the instant case subject to the conditions
hereinafter set forth;

NOW THEREFORE, in consideration of the foregoing and the


further agreement hereinafter set forth, the parties agree as follows:
1. That the total amount payable is THREE HUNDRED THIRTY
SEVEN THOUSAND SIX HUNDRED FORTY EIGHT PESOS (Php
337,648.00);

2. ABCD will NOT ADD INTEREST to any further extent to the


total amount payable until fully paid;

3. That upon signing of this Agreement, shall pay


the amount of FORTY THOUSAND PESOS by
cash within five (5) months with the following schedule:
December 30, 2017 Php 8,000.00
January 30, 2017 Php 8,000.00
February 28, 2017 Php 8,000.00
March 30, 2017 Php 8,000.00
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April 30, 2017 Php 8,000.00

4. That the balance of TWO HUNDRED NINETY SEVEN


THOUSAND SIX HUNDRED FORTY EIGHT PESOS (Php
297,648.00) shall be paid by monthly installment at FIVE
THOUSAND PESOS (Php 5,000.00);

5. That payments must be made on or before 30th day of the


month until fully paid;

6. That in case of failure to pay the monthly installment, ABCD


agrees to give a sixty (60) days grace period;

7. That after payment of the above mentioned amounts,


both parties waive any and all rights and claims against
each other arising from any and all causes of action
respectively claimed by the parties in Civil Case No.
;

8. In the event that any one or more of the provisions of this


compromise agreement, be later on declared invalid,
illegal or unenforceable by the appropriate court of justice,
the validity, legality and enforceability of the remaining
provisions shall in no way be impaired or affected thereby;

9. The parties hereby acknowledge that the stipulations


contained in this Agreement have been mutually agreed
upon by the respective Parties, without any act of force,
fraud or undue intimidation;

10. The Parties also acknowledge that they have consulted


their respective legal counsels and that they understand
the legal consequences of this Agreement;

11. Accordingly, the Parties hereby agree to abide by the


foregoing stipulations with the force and effect of a lawful
right and demandable obligation;

12. With the execution of the foregoing Agreement, parties


hereby agree to move for the approval of this Compromise
Agreement before this Court.

IN WITNESS WHEREOF, parties herein affixed their signatures on


the date and place above written.

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Signed in the presence of:

________________________ ________________________

ACKNOWLEDGEMENT

Republic of the Philippines )


) S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction,


this 4th day of December 2017, personally appeared:

Known to me and by me known to be the same persons who


executed the foregoing instrument consisting of three (3) pages
including this page where this acknowledgement is written and
acknowledged to me that the same is their own free and voluntary
act and deed.

Witness my hand and notarial seal on the date and place first
above written.

Doc. No. ;
Page No. ;
Book No. ;
Series of 2017.

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