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Compromise Agreement - Rariza

The Compromise Agreement, executed on June 19, 2024, between Jaime M. Rariza, Jr. (plaintiff) and Jose M. Ramos (defendant), outlines a settlement to avoid protracted litigation regarding real property disputes. The defendant agrees to pay the plaintiff a total of four million pesos, with an initial payment of one million pesos made to an escrow-trustee, followed by two subsequent payments. The agreement also includes a waiver of claims and a request for court approval to lift any legal notices related to the property.

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Jaime Rariza Jr.
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15 views2 pages

Compromise Agreement - Rariza

The Compromise Agreement, executed on June 19, 2024, between Jaime M. Rariza, Jr. (plaintiff) and Jose M. Ramos (defendant), outlines a settlement to avoid protracted litigation regarding real property disputes. The defendant agrees to pay the plaintiff a total of four million pesos, with an initial payment of one million pesos made to an escrow-trustee, followed by two subsequent payments. The agreement also includes a waiver of claims and a request for court approval to lift any legal notices related to the property.

Uploaded by

Jaime Rariza Jr.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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COMPROMISE AGREEMENT

This Agreement executed this 19th day of June 2024 2013 at Pasay City,
Metro Manila, by and between:

JAIME M. RARIZA, JR., Filipino, of legal age with address at 3511-B,


Gumamela Duplex, Gen. T. De Leon, Valenzuela City, represented herein by
Atty. Juan Dela Cruz (hereinafter referred to as “the plaintiff”).

-and-

JOSE M. RAMOS, Filipino, of legal age with address at No. 11 Gold Loop
Street, Ortigas Center, Pasig, Metro Manila, represented herein by
Atty. Joselina Cruz (hereinafter referred to as “the defendant”).

WITNESSETH: That -

WHEREAS, the plaintiff RARIZA and defendant RAMOS have instituted


several actions against each other in the past.

WHEREAS, the plaintiff RARIZA instituted the present action for


reconveyance of real property, annulment of deed of sale and accounting of
income of property.

WHEREAS, the parties desire to buy peace and wish to avoid a protracted
litigation in this case.

NOW THEREFORE, in consideration of the foregoing and the further


covenants hereinafter set forth, the parties agree as follows:

1. Plaintiff shall be paid the sum of FOUR MILLION PESOS


(P4,000,000.00) in accordance with the following schedule:

a. Initial payment - ONE MILLION PESOS (P1,000,000.00) shall be paid to


the plaintiff by defendant CRUZ upon the signing and due execution of this
Compromise Agreement, Provided, however, that the initial payment by
defendant CRUZ shall be delivered into the custody and possession of a third
party, Atty. Maria V. Santiago, who shall act as escrow-trustee of the parties
and who shall only deliver the said initial payment to the plaintiff through
plaintiff’s counsel upon the filing in Court of this Compromise Agreement.

b. The balance of THREE MILLION PESOS (P3,000,000.00) shall be paid by


defendant CRUZ as follows:

Page 1 of 2
Second payment – ONE MILLION FIVE HUNDRED THOUSAND PESOS
(P1,500,000.00) within thirty (30) days after the date of the first payment.

Third payment - ONE MILLION FIVE HUNDRED THOUSAND PESOS


(P1,500,000.00) within sixty (60) days after the date of the second payment.

2. The initial payment by defendant CRUZ shall be made in cash. The two
payments on the balance shall be covered by post-dated checks drawn by
defendant CRUZ as payable to ATTY. JUAN DELA CRUZ who shall hold and
account for said payments in trust for plaintiff RARIZA.

3. This Compromise Agreement shall not affect nor prejudice any case or
cases between the parties not specifically referred to herein.

4. Upon delivery of the initial payment made by defendant CRUZ and


delivered to the escrow-trustee of the parties, the parties shall seek Court
approval of this Compromise Agreement and the cancellation or lifting of the
notice of lis pendens issued by the Court over the property subject of the
action.

5. The signatories to this Agreement hereby represent and warrant that


they are duly authorized to execute this Agreement.

6. The parties or their assigns hereby waive, renounce and forever


quitclaim all their respective claims and counterclaims subject of the instant
action as well as those that may arise therefrom, in connection therewith or
in relation thereto.

7. The foregoing covenants are not contrary to law, morals, or public


policy and the parties bind themselves to comply strictly with their
undertakings.

IN WITNESS WHEREOF, parties herein affixed their signatures on the


date and place above written.

JAIME M. RARIZA, JR. JOSE M. RAMOS


Plaintiff Defendant

Signed in the presence of:

JENNY T. DIZON DAVID L. MELCHOR

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