ACKNOWLEDGMENT RECEIPT

This is to acknowledge receipt from. (“Buyer) of the amount of

_______________________________________________________ (PHP
_________________________________) PESOS representing full payment of the
Purchase Price of two (2) parcels of land situated at ____________________ (collectively
called the “Subject Properties”) which are more particularly described as follows:

a) “Lot 1” is
_________________________________________________________
_______________________________
b)

and

c) “Lot 2” is No. __________________________________________.

Received by: