RELEASE OF REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

That LICEO DEL VERBO DIVINO, INC. (formerly Divine Word University of
Tacloban, Inc.), a duly organized and existing corporation under the laws of the
Philippines, with principal office at Tacloban City, mortgagee of the property described in
Transfer Certificate No. T-4647 of the Registry of Deeds of Tacloban City, by virtue of
a mortgage executed in favor of this corporation by FRANKLIN A. COLASITO, a
former High School Teacher and Asst. Principal of DWU, on 4 October, 1978 and
acknowledged before Notary Public Yolanda Dagandan and entered in her Notarial
Register as Doc. No. 91, Page No. 23, Book No. I, s. 1978, which mortgage is duly
recorded in the land records of the Register of Deeds of Tacloban City and annotated on
the above-mentioned certificate of title under P.E. No. 10210 T-4647 dated 3 November
1978, having received the amount owed to this corporation together with interest, the
payment of which is secured by this mortgage, do hereby forever release, discharge and
cancel the said mortgage and declare it of no further force and effect.

IN WITNESS WHEREOF, LICE DEL VERBO DIVINO, INC. has caused these
presents to be signed by its duly authorized signatory, FR. ORENCIO M. RODRIGUEZ,
SVD, Administrator, at Tacloban City this __ day of September 2009.

LICEO DEL VERBO DIVINO, INC.

By:

FR. ORENCIO M. RODRIGUEZ, SVD

Administrator

SIGNED IN THE PRESENCE OF:

________________ ______________

Republic of the Philippines )

Province of Leyte ) SS
City of Tacloban )

BEFORE ME, this _______________ at Tacloban City personally appeared FR.

ORENCIO M. RODRIGUEZ, SVD, with CTC No. 07201589 issued on 1-22-09 at
Tacloban City, personally known to me to be the person who voluntarily executd the
foregoing instrument which he acknowledged before me as his free and voluntary act and
deed and that of LICEO DEL VERBO DIVINO, INC. which he represents as its
Administrator, with full authority to sign in that capacity.

WITNESS MY HAND AND NOTARIAL SEAL this ____________ at

Tacloban City, Philippines.

Doc. No. ___

Page No. ___
Book No. 57
SERIES OF 2009