AGREEMENT TO SELL REALTY

KNOW ALL MEN BY THESE PRESENTS:

I, FILOMENA F. GLORIA, of legal age, Filipino, married and a resident of

Baras, Palo, and authorized exclusive agent of JUANA C. PEÑEDA, of legal age,
Filipino, widow, and a resident of Palo, Leyte, hereby acknowledge to have
received from SISTER ELOISA DAVID, of legal age, Filipino, single and with
postal address at St. Paul’s Hospital, Tacloban City, the sum of FOUR
HUNDRED THOUSAND PESOS (P400,000.00), Philippine Currency, as partial
payment of the downpayment of ONE MILLION PESOS (P1,000,000.00) in
consideration of the contract to sell 20,000 sq.m. only (2 Hectares) of real
property in Baras, Palo, Leyte under OCT No. P-40352 of the Registry of Deeds
of the Province of Leyte and registered in the name of Juana Peñeda.

Upon the full payment of the downpayment of P1 Million, a Contract to

Sell shall be executed by the parties for the full consideration of the net price of
P3 Million, exclusive of other legal charges, under such terms and conditions
which shall be embodied in the Contract to Sell. A Deed of Absolute Sale shall
thereafter be executed after the full satisfaction of the full consideration of the net
price.

IN WITNESS WHEREOF, we have hereunto set our hands this ___ day of
March 2004 at Tacloban City, Philippines.

FILOMENA F. GLORIA SISTER ELOISA DAVID

For Juana Peñeda Vendee
Vendor

SIGNED IN THE PRESENCE OF:

_______________ _____________

Republic of the Philippines )

Province of Leyte ) SS
City of Tacloban )

ACKNOWLEDGMENT

BEFORE ME personally appeared FILOMENA GLORIA and SISTER

ELOISA DAVID, both with CTC Nos. __________/____________ issued on
___________/___________ at __________________/________________, both
known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free act and deed.

WITNESS MY HAND AND NOTARIAL SEAL.

Doc. No. ____

Page No. ____
Book No. XXXIX
SERIES OF 2004