MEMORANDUM OF AGREEMENT

THIS AGREEMENT is made on the 19 day of FEBRUARY , 2024

BETWEEN:-

(1) LESLIE ANNE JOY D. ESCOTO an individual with residence address at 5 B1 L3 STA.
MARTA ST. SAN ANTONIO VALLEY 14 SUCAT PARANAQUE CITY ("UNIT
OWNER") and
(2) RUBIN JOHN VILLACARLOS. an individual with residence address at 122 FAME ST.
GREENVILLE SUBDIVISION AREA 2 FOURTH ESTATE PARANAQUE CITY ("The
Driver").

WITNESSETH
WHEREAS, the driver and the unit owner have reached an agreement for the driver to pay
the daily boundary and its associated constraints (e.g maintenance, damages, permits,
registration and alike). Unit details as follows:

PLATE NUMBER: NFB 5999

MODEL: MITSUBISHI L300 FB EXCEED
YEAR: 2023

PHOTO’S OF ACTUAL TURN OVER WILL BE ATTACHED.

NOW, THEREFORE, to affect the above purpose and in consideration of the mutual
covenants and promises set forth herein, the UNIT OWNER and the DRIVER hereby agree
as follows:

1.Term

1.1 Subject to the provisions for termination and variation herein, the term of this Agreement shall
commence on the Date of this Agreement and shall continue in effect for one (1) year
renewable, unless terminated earlier by either the UNIT OWNER or DRIVER in accordance
with the provisions of this Agreement (hereinafter referred to as “the Effective Date”).

1.2 The DRIVER agrees to pay the UNIT OWNER the sum of P8,250.00 weekly , ( P1,500.00 for
5 days and P750.00 on the 6th day for a total of weekly as the daily boundary.)the boundary
should be remitted daily, from the Effective Date,

1.3 For Private booking the DRIVER will receive a P1,500.00 daily pay if overnight, P1,000.00
for regular hours, not required to pay the daily boundary.

1.4 Computation for maintenance per mileage is P150.00 per 100km.

1.5 The DRIVER will report any minor and major incident to the UNIT OWNER and the DRIVER
is not allowed to bring the vehicle in any workshop without the authorization of the UNIT
OWNER.
1.6 The DRIVER is not authorized to have a key duplicate of the vehicle or use the vehicle for
personal purpose unless permitted.

1.7 The Driver is required to send the daily odometer reading and gas level of the vehicle for
monitoring.

1.8 Security Bond of P10, 000.00 will be paid daily (P500.00) until completion. The fund may be
used for vehicle emergency and refundable upon separation and balances have been liquidated.

WHEREIN, the DRIVER shall pay the boundary for one (1) year and subject for renewal.

WHEREIN the driver will deposit the boundary at the specified bank or refer to instruction
provided by the UNIT OWNER or the designated operator.

BANK: EASTWEST
ACCOUNT NUMBER: 2000 5166 9206
ACCOUNT NAME: LESLIE ANNE JOY D. ESCOTO

1.9 The DRIVER will be responsible for all the maintenance and other needs of the vehicle on
loan.

2.0 The DRIVER is required to bring the unit every week (coding day) for physical inspection or
if the UNIT OWNER request without dispute.

2.1 The UNIT OWNER and DRIVER agree to collaborate on every legal documents needed for
the vehicle’s private and government processing.

2. Confidentiality and Non-Disclosure

2.1 The UNIT OWNER and THE DRIVER shall hold the Agreement in confidence
("Confidential Information").

2.2 The UNIT OWNER shall refrain from using or allowing the use of the Confidential
Information for any other private or commercial purpose save for enforcing his rights in the
Court of Law under this Agreement.

2.3 The Confidential Information received by the UNIT OWNER shall not be disclosed or
divulged to any third party or parties, other than for reasons stated at 2.2 above.

2.4 The DRIVER’s obligations under this clause shall survive the termination or expiration of
this Agreement and shall bind his next of kin, successors in title and whosoever people
named as beneficiaries upon his death.

3. Termination

3.1 This Agreement may be terminated by the UNIT OWNER upon:-

• The failure of DRIVER to pay the stated sum within the stipulated period; TWO (2) WEEKS
of no payment.
• The DRIVER shall pay the full amount of the missing boundary and the amount for the
maintenance and damages occured; or may be upon the consideration of the UNIT
OWNER.
• Without dispute from the DRIVER, the UNIT OWNER will retrieve the vehicle.

(c) The breach by either party as stated in Clause 3 above;

4. Applicable Law

This Agreement shall be governed by and construed in accordance with the laws of the
Philippines.

5. Force Majeure

5.1 Neither party shall be liable to the other party for the failure or delay in performance of
any of its obligations under this Agreement due to acts of God, fire, flood, strikes, labor
disputes or other industrial disturbances, acts of Government, laws and regulations,
riots, insurrections or any other cause beyond the control of the affected party. Upon the
occurrence of such an event, the affected party shall immediately notify the other party of
such an event with as much detail as possible. The affected party shall, immediately after the
cause is removed, perform its obligations with all due diligence.

5.2 Notwithstanding the foregoing, no event of Force Majeure shall affect the Borrower’s
obligation for the payment of money it owes the UNIT OWNER. In the event that the
prevention of performance of any party's obligations under this Agreement due to
an event of force majeure shall continue beyond a period of six (6) months, the party
unaffected by such event shall have the right to terminate this Agreement upon thirty (30)
days prior notice to the other party.

6. Assignment

Neither party shall assign any of its rights or obligations, under this Agreement, in whole or
in part, to any third party without the prior written approval of the other.

7. Notices

7.1 All notices or communications given or required to be given hereunder shall be given by
personal delivery, by register airmail (being followed by a confirmation letter dispatched
within twenty-four (24) hours) to the following addresses:

LESLIE ANNE JOY D. ESCOTO

5 B1 L3 STA. MARTA ST. SAN ANTONIO VALLEY 14 SUCAT PARANAQUE CITY

RUBIN JOHN VILLACARLOS

122 FAME ST. GREENVILLE SUBDIVISION AREA 2 FOURTH ESTATE PARANAQUE
CITY
7.2 Notices and communications shall be deemed received by the addressee on the date of
delivery if delivered personally, on the tenth (10th) day from the date of posting if sent
by registered airmail.

7.3 The parties may change their address at any time by giving a written notice thereof in the
manner provided in this Article.

8. Miscellaneous Provisions

8.1 The headings of the Articles have been inserted for convenience of reference only and shall
not affect the interpretation or construction of the provisions of this Agreement.

8.2 This Agreement shall not be modified except by a written instrument executed by duly
authorized representatives of the parties hereto.

8.3 In the event any term or provision of this Agreement shall for any reason be held
invalid, illegal or unenforceable in any respect, such invalidity,illegality or
unenforceability shall not affect any other term or provision of this Agreement, and this
Agreement shall be interpreted and construed as if such term or provision, to the extent which
it is invalid, illegal or unenforceable, had never been contained in this Agreement.

8.4 Waiver of any right by a party hereto towards the other for breach or a series of breaches
hereof shall not affect the right of the waiving party to exercise any of its rights provided
hereunder on account of any other breach hereof or similar breach subsequent thereto.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be

executed on the date first written above.

LESLIE ANNE JOY D. ESCOTO RUBIN JOHN VILLACARLOS.

UNIT OWNER DRIVER