EARNEST MONEY RECEIPT AGREEMENT

Received from Juan dela Cruz with postal address at Mabini Street , Ormoc City , the sum of Five Hundred thousand pesos (P 500,000.00) covered by ABC Bank, check # 00002234 dated January 1, 2012 representing EARNEST MONEY for payment of a Two-Story house and lot located at Tambulilid , Ormoc City covered by T.C.T. No. T-000567. This EARNEST MONEY forms part of the purchase price of Two Million Pesos (P 2,000,000.00). The balance and full payment shall be paid on or before December 05 , 2012. The BUYER hereby reserves the exclusive right to purchase the aforementioned property and the SELLER cannot offer the aforementioned property to any third. Upon full payment, the SELLER shall execute a DEED OF ABSOLUTE SALE in favor of the BUYER, conveying the subject property with full warranty of a legal and valid title as provided by law, free and clear from any liens and encumbrances. Upon execution of the DEED OF ABSOLUTE SALE, the SELLER shall undertake the payment of the Capital Gains Tax. The BUYER shall shoulder the payment of the Documentary Stamps Tax, Transfer Tax, Registration Fee and all other expenses to transfer the title of the property under his name. In case of voluntary cancellation of this agreement by the BUYER without any cause on the part of the SELLER or if the BUYER fails to comply with his obligations mentioned, then the SELLER shall have the right to terminate this agreement in which case the EARNEST MONEY in the amount of Five Hundred Thousand Pesos (P 500,000.00) shall be forfeited in favor of the SELLER as liquidated damages.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this 20th day of January 2012 at Ormoc City , Philippines.

(SELLER) Signature over Printed Name

(BUYER) Signature over Printed Name

ACKNOWLEDGEMENT

Republic of the Philippines) Ormoc City ) S.S

BEFORE ME, personally appeared: Name JUAN DELA CRUZ Ormoc JOY MANAN Ormoc CTC Number 0008-123 000-786 Date/Place Issued 02 03 2012 02 09 2012

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is their free and voluntary act and deed.

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

ATTY Notary Public for Ormoc City , Philippines Commission No. 2011 01 32 until Dec 2013 Roll of Attys. No. 62000 IBP Lifetime No. 00234 , 05 23 2008 PTR No. 7089587, 02 12 12 , Ormoc City 234 Mabini Street , Ormoc City

Doc. No.______; Page No. ______; Book No.______; Series of 2012.