DACION EN PAGO

This Dacion en Pago is made, entered and executed by and between

ENGR. JOSE , SR. and ENGR. JOSE , JR. , both of legal age, Filipino
citizen and residents of Dagupan City, Pangasinan, all of whom shall be
hereinafter referred as the FIRST PARTY

In favor of

PHILIPPINE 123 INDUSTRIES AND TRADING CORPORATION, a

juridical entity, with business address at Juanita Towers, Brgy. Sevilla, San
Fernando City, La Union, herein represented by LORNA D. T thru a Board
Resolution which is hereto attached as Annex “A” and made part of this
document, and hereinafter referred to as the SECOND PARTY.

WITNESSETH:

Whereas, the herein parties are the parties in criminal case No. 9123 then
pending before RTC Br. 66, San Fernando City, La Union;

Whereas, in connection with said case, the parties executed a Compromise

Agreement, with the conformity of the Provincial Prosecutor to settle its civil aspect,
specifically to pay the construction materials bought thru a postdated check. A copy of
said Agreement is hereto attached as Annex “B” and made part of this agreement;

Whereas, the said agreement was approved by the Honorable Court in its July
23, 2013 order a copy of which is hereto attached as Annex “C” and made part of this
agreement;

Whereas, in the said agreement, Engr. Jose Paragas, Sr., agreed, among others,
that he will cede, transfer, and convey unto the first party a FOUR HUNDRED SUARE
METER (400 sq.m.) parcel of registered land covered by TCT No. 79122 of the
Register of Deeds of Dagupan City, Pangasinan, a copy of which is hereto attached as
Annex “D” and made an integral part of this agreement;

That in compliance with the order of the Honorable Court to strictly comply with
the terms of the compromise agreement, the FIRST PARTY, individually and collectively,
hereby waive, cede, transfer, and/or convey to the SECOND PARTY all of their rights
and interests on the 400 sq.m. portion of said registered parcel of land as mentioned in
the compromise agreement.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____
day of __________, 2013, in __________________________________, Philippines.

LORNA D. T
I.d. No._________________

ENGR. JOSE , SR. ENGR. JOSE JR.

I.d. No.__________________ I.d.______________________
Witnesses:

__________________________________ ______________________________

Republic of the Philippines)

Province of La Union)
San Fernando City ) S.S.

BEFORE ME, a Notary Public for and in the city of San Fernando City, La Union,
Philippines this ____ day of ___________,2013 personally appeared the above-named
persons with their competent evidence of identities bearing the information indicated
below their respective names and who represented themselves to me to be the same
persons who executed the foregoing document and who acknowledged to me that the
same is their free and voluntary act and deed.

I certify that the foregoing document consisting of _________ ( ) pages

including this page where the acknowledgement is written refers to a Dacion en Pago
executed by ENGR. JOSE, SR. and ENGR. JOSE , JR. in favor of
PHILIPPINE 123 INDUSTRIES AND TRADING CORPORATION and that each and
every page hereof has been signed by the parties and their witnesses.

IN WITNESS WHEREOF, I have placed my hand and seal on the date and at the
place above-written.

Doc. No. :
Page No. :
Book No. :
Series of 2013.