RECEIVED from _______, the sum of _______PESOS (P_____) in CASH/CHECK, (indicate check particulars), as earnest money deposit for the property situated at ______ known and identified under:

           Transfer Certificate of Title No. _____ of the Registry of Deeds of Batangas

           It is understood between the contracting parties, that:

           1. The above-stated earnest money deposit of P______ shall be applied as partial payment of the purchase of _________PESOS (P______), above stated purchase price shall be paid as follows:

           P______ to be paid upon verification of title

           P______balance in cash upon the execution of the Deed of Absolute Sale in favor of the BUYER and clarification of the status of the tenants in the premises;

           2. Capital gains tax and all other estate taxes, including all other utility bills, transfer fees or charges against the property up to the date of the Deed of Absolute Sale shall be for the account of the SELLER;

           3. Documentary stamps shall be for the account of the BUYER and expenses for the transfer of the titles in the name of the VENDEE shall be for the account of the BUYER.

           Executed and signed by the contracting parties on the ___day of May, 2003 at the City of Valenzuela, Philippines.