COMPROMISE AGREEMENT
COME NOW the parties, assisted by their respective counsels, and to his Honorable Court respectfully state:
1. That the parties, now in the twilight years of their lives have agreed to settle their differences and end this long pen/ding litigation by way of a compromise- agreement as follows:
a) The Pangabuan property, more particularly described in the decision of the Court of Appeals (now Intermediate Appellate Court) in CA-G. R. No. 54770-71 as follows:
A parcel of land covered by Tax Declaration No. 4254 (Exhibit "20"-Bermejo). situated in Pangabuan, Jamindan, Capiz; bonded on the North by Hrs. of B. Barrientos, Jr. Ituralde, C. Robles & R. Llanto on the East by M. Albona & 1. Oorcio; on the South by the Nayubong Crk. & Provincial Road; and on the West by the Tablan and Badiangan Crk; containing an area of 422,000 sq. m. more or less.
shall pertain in ownership and possesion to the appellants-spouses Gabriel Lopez and Aurora V. Lopez, as owners proindiviso. Accordingly, the foreclosure and all proceedings leading to the transfer of the original ownership the above-described properties to the appellees, Macario Bermejo and Magdalena Bediones Bermejo are set aside and rendered of no effect.
b) The Jaena property, more particularly described in the aforecited decision of the Court of Appeals (now Intermediate Appellate Court) as follows:
A parcel of land covered by Tax Declaration No. 1242 Exhibit "16"-Bermejo situated in Jaena Sur and Norte, Jamindan Capiz; bounded on the North by Hermenegildo Lusanta & Mambusao River; on the East of Jaena Scl. site & Gabriel Lopez; on the South by Alfredo Torreblanca, Panglawan Crk. & Victor Vigo, and on the West by Public Land and Juanito Andone; containing an area of 7,545,000 sq. m., more or less.
shall pertain in ownership and possession to the appellees, Macario Bermejo and Magdalena B. Bermejo.
c) The parties waive all other causes of action and claims against one another subject matter of the complaints and counterclaims in the present case, including those adjudicated in appellees' favor by the trial court and affirmed by the Court of Appeals (now Intermediate Appellate Court).
d) The decision of the trial court and the Court of Appeals (now Intermediate Appellate Court) subject of the present appeal to this Honorable Court shall be supplanted by this Compromise Agreement, which shall be the basis of judgment.
e) The receivership of the properties abovedescribed shall be terminated upon judgment of this Honorable Court and the parties shall then be entitled to the possession and to all rights of ownership of their respective properties as above indicated, without prejudice to the accountability of the receiver appointed by the Trial Court to submit an accounting of the receivership and for all his conduct in contravention of his duties and responsibilities as such. Cause of action against the receiver, if any. shall pertain to the Lopez spouses in so far as it concerns the Pangabuan property, and to the Bermejo spouses for the Jaena property.
WHEREFORE, it is respectfully prayed that the foregoing compromise agreement be approved and be made the basis of judgment of this Honorable Court with cost de oficio.
Manila, November —, 1985.
(Sgd.).MACARIO BERMEJO (Sgd.) GABRIEL LOPEZ
Appellee Appellant
(Sgd.) MAGDALENA B. BERMEJO (Sgd.) AURORA V LOPEZ
Appellee Appellant
Assisted by:
(Sgd.)VICTOR A. ARCHES (Sgd.)VIRGILIO C. MANGUERA
Counsel for the Appellees Counsel for the Appellants
