COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT made and entered into on this ____ day

__________, 2007 at ________________, Philippines, by and
between:

“FELIZA SERRANO Y CORRADO, of legal age,

widow, Filipino and a resident of #44, Matapat
St., Brgy. Piñahan, V. Luna, Quezon City,
hereinafter referred to as the “FIRST PARTY”;

- and-

“AVELINO DE CHAVEZ Y SORIANO, of legal

age, single/married, Filipino, and a resident of
_______________________ hereinafter referred
to as the “SECOND PARTY”;

WITNESSETH That:

WHEREAS, the SECOND PARTY has an outstanding obligation to

the FIRST PARTY in the total amount of ONE HUNDRED THOUSAND
PESOS (Php100,000.00)
representing___________________________;

WHEREREAS, after several demands, SECOND PARTY neither

paid nor made any effort to reconcile with the new management of the
FIRST PARTY;

WHEREAS, the FIRST PARTY thereafter filed a civil case and is

therefore the complainant in Civil Case No. 182976 CV for Sum of
Money filed against herein second party and pending before the
Metropolitan Trial Court of Manila, Branch 25;

WHEREAS, in order to save time and from the inconvenience a

court litigation may bring, both parties have finally come to an
agreement to settle this matter amicably and extrajudicially, thus they
now enter into this Compromise Agreement.

NOW THEREFORE, for and in consideration of the foregoing, both

parties have agreed on the following terms and conditions, to wit:

Page 2 of 3, Compromise Agreement (CTLC & G & G Freight Phils.,

Inc.)
 1) The FIRST PARTY has granted the SECOND PARTY a ____ %
percent discount from the total obligation of Php 142,588.55, thereby
resulting to a remaining ___% outstanding amount or equivalent to
PESOS: THIRTY THOUSAND (Php 30,000.00);

2) WHEREAS, SECOND PARTY agrees to pay to the FIRST PARTY

the total sum of THIRTY THOUSAND (Php 30,000.00) PESOS. Said
amount shall be paid in SIX (6) equal monthly payments duly covered
by post-dated checks, which will be due on the following dates, to wit:

May 10, 2007 Php 5,000.00 MBTC Chk # 0112050751

June 10, 2007 5,000.00 52
July 10, 2007 5,000.00 53
Aug 10, 2007 5,000.00 54
Sept. 10, 2007 5,000.00 55
Oct. 10, 2007 5,000.00 56

3) Said PDC’s shal be tendered by the SECOND PARTY to the

FIRST PARTY IMMEDIATELY UPON THE EXECUTION OF THIS
agreement and the SECOND PARTY assumes full obligation to the
FIRST PARTY that funds thereof be made available on the due date/s
thereof without need of further demand s from the FIRST PARTY;

4) After the execution of this Agreement and upon payment by

the SECOND PARTY, the FIRST PARTY shall file the necessary Motion
to the Court to withdraw its pending case filed against the SECOND
PARTY without prejudice to its right to refilled the case in case of
noncompliance by the SECOND PARTY;

5) Both parties agree that this Agreemen t shall constitute as the

DECISION of the Honorable Court on the aforesaid pending case.

IN WITNESS WHEREOF, both parties have hereunto set their

hands this _____ day of __________________, 2007 at
_____________, Philippines.

CHARIOT TRAILER LEASING CORP. G & G FREIGHT PHILS. , INC.

FIRST PARTY SECOND PARTY
BY:

NOEL M. BUMANGLAG GIRLIE GAN

General Manager General Manager
 Signed in the presence of:

___________________ ____________________

ACKNOWLEDGMENT

Republic of the Philippines)

City of _____________ ) S.S

BEFORE ME, a notary public for and in the City of _______________

on this ___ day of _________________, 2014, personally appeared:

NAME ID/CTC NO. ISSUED AT/ON

all known to me and to me known to be the same persons who

executed the foregoing instrument and acknowledged before me that
the same is their free act and voluntary deed. This instrument,
consisting of 3 pages, including the page on which this
acknowledgment is written, which has been signed on the left margin
of each and every page thereof by the contracting parties and their
witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand, the

day, the year, and the place above written.

Doc. No.____;
Page No.____;
Book No.____;
Series of 2014.