Moa Motorcycle

MEMORANDUM OF AGREEMENT
This Memorandum of Agreement (the “Agreement”) is made and entered into this
9th day of October 2024, by and between:
MARK LOREN G. LEONCIO, of legal age, Filipino, married/single, and a

resident of Yumang St., Brgy. San Isidro, General Santos City, hereinafter referred to
as the "FIRST PARTY";
-and-
RICARDO SEGUERA, of legal age, Filipino, married/single, and a resident of

Prk. Masunurin, Brgy. San Isidro, General Santos City, hereinafter referred to as the
"SECOND PARTY."
WITNESSETH:
WHEREAS, the FIRST PARTY is the owner of a motorcycle, and the

SECOND PARTY is engaged as a sales agent for said motorcycle;
NOW, THEREFORE, the parties hereby agree to the following terms:
1. Subject of Agreement
The subject of this Agreement is a motorcycle (hereinafter referred to as the

“Motor”):
o Brand/Model: HONDA / CLICK 125

o Engine No.: JA69E7697562
o Chassis No.: K2VL1070643
o Color: GRAY
o Condition: NEW
2. Maintenance and Repairs
a. The FIRST PARTY is responsible for all regular maintenance and minor
repairs during the term of this Agreement.
b. The SECOND PARTY must contact the FIRST PARTY for any major repairs
needed.
c. Gasoline shall be provided by the FIRST PARTY.
3. Insurance
The SECOND PARTY shall maintain insurance on the Motor during the usage
period. The SECOND PARTY is liable for all costs in case of accidents, theft,
or damage. The SECOND PARTY is also responsible for costs arising from
any violations of LTO regulations. The renewal of registration is the
responsibility of the FIRST PARTY.
4. Condition of Motor
The Motor is delivered in new condition. An inspection report detailing its

condition upon delivery will be signed by both Parties.
5. Ownership Transfer
The ownership of the motorcycle shall remain in the FIRST PARTY. If the
SECOND PARTY upon severance of its commission-based project with the
FIRST PARTY, has the option to purchase the motorcycle, otherwise, the
SECOND PARTY shall undertake to surrender possession of the same to the
FIRST PARTY;
6. Commission, Default, and Termination
a. The SECOND PARTY shall provide 15 activations per month and will
receive a 60% commission based on each Subscription Plan.
b. In the event of default, the FIRST PARTY reserves the right to repossess
the Motor, charge repossession and legal fees, and terminate the Agreement.
The SECOND PARTY will be given a 5-day notice to cure any default before
repossession.
7. Early Buyout Option
The SECOND PARTY has the option to purchase the Motor by paying the full
amount as stipulated in the Sales Invoice of the motorcycle.
8. Use and Restrictions
The SECOND PARTY agrees to use the Motor in a lawful manner and avoid
illegal activities. The Motor shall be used in areas where Converge facilities
are located in General Santos City, Sarangani, and South Cotabato.
Subleasing or lending the Motor to third parties is prohibited.
9. Dispute Resolution
In the event of a dispute, the Parties agree to attempt resolution through

negotiation. If unresolved, legal action may be pursued in the courts of
General Santos City.
IN WITNESS WHEREOF, the parties hereto have set their hands this 9th day
of October 2024 in General Santos City, Philippines.
RICARDO SEGUERA MARK LOREN G. LEONCIO

Second Party First Party
SIGNED IN THE PRESENCE OF:

_______________________ _______________________
REPUBLIC OF THE PHILIPPINES)
GENERAL SANTOS CITY ) S.S.
BEFORE ME, this ______________________ at General Santos City, Philippines,

personally appeared:
Name Competent Proof of Identity
RICARDO SEGUERA
______________________________
MARK LOREN G. LEONCIO
______________________________
known to me to be the same person who executed the foregoing instrument and
she acknowledged to me that the same is her free and voluntary act and deed.
This instrument relates to that Memorandum of Agreement of consisting of

two [2] pages including this page in which this acknowledgement is written and
signed by the parties and their instrumental witnesses on each and every page
thereof and sealed with my notarial seal.
WITNESS MY HAND AND NOTARIAL SEAL.

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MEMORANDUM OF AGREEMENT

MARK LOREN G. LEONCIO, of legal age, Filipino, married/single, and a

RICARDO SEGUERA, of legal age, Filipino, married/single, and a resident of

WHEREAS, the FIRST PARTY is the owner of a motorcycle, and the

NOW, THEREFORE, the parties hereby agree to the following terms:

The subject of this Agreement is a motorcycle (hereinafter referred to as the

o Brand/Model: HONDA / CLICK 125

2. Maintenance and Repairs

c. Gasoline shall be provided by the FIRST PARTY.

The Motor is delivered in new condition. An inspection report detailing its

7. Early Buyout Option

8. Use and Restrictions

In the event of a dispute, the Parties agree to attempt resolution through

RICARDO SEGUERA MARK LOREN G. LEONCIO

SIGNED IN THE PRESENCE OF:

BEFORE ME, this ______________________ at General Santos City, Philippines,

This instrument relates to that Memorandum of Agreement of consisting of

WITNESS MY HAND AND NOTARIAL SEAL.

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