KNOW ALL MEN BY THESE PRESENTS:

This Cancellation of Deed of Absolute Sale, made and entered this ____ day of June 1998, by and between:

SALVADOR B. LOCSIN, of legal age, Filipino, widow, and with residence address at No. 9, Mapagkawanggawa St., Sakatuna Village, Quezon City, and hereinafter referred to as the SELLER;

and

JESUS SALVADOR G. LOCSIN, JR, of legal age, Filipino, single and with residence address at No. 9, Mapagkawanggawa St., Sakatuna Village, Quezon City;

ENRIQUE GABRIEL G. LOCSIN, of legal age, Filipino, married to MA. GERALDINE ROSAL, with residence address at Lot 9 Block 4 Mozart St., Greenville Subdivision, Sauyo, Quezon City,
hereinafter referred to as the BUYERS.

WITNESSETH: THAT

WHEREAS, on 16 January 1997, the parties executed a Deed of Absolute Sale over a parcel of land registered as TCT No. N-139672 in the Registry of Deeds of Quezon City, which transaction was entered into in the notarial book of Notary Public Dulcisimo S. Manay, Jr. as Doc. No. 72; Page No. 15; Book No. VII; Series of 1997, a copy of which is hereto attached as Annex A;

WHEREAS, the parties wish to CANCEL, RESCIND and ANNUL said Deed of Absolute Sale and declare the same VOID AB INITIO for failure to effect the necessary consideration and include the names of all actual BUYERS of the real property;

NOW, THEREFORE, in consideration of the foregoing premises, the parties hereby unconditionally CANCEL, RESCIND, ANNUL and declare VOID AB INITIO and without legal effect whatsoever the Deed of Absolute Sale executed by the parties on 16 January 1998.

IN WITNESS WHEREOF, the parties have hereunto signed this CANCELLATION OF DEED OF ABSOLUTE SALE this _____ day of ____________ 1998 at the date and place first above mentioned.

SALVADOR B. LOCSIN
            Seller
TIN: 104-017-792

ENRIQUE GABRIEL G. LOCSIN
            Buyer
TIN: 178-805-171

JESUS SALVADOR G. LOCSIN , JR.
            Buyer
TIN: 150-541-213

ACKNOWLEDGEMENT

Republic of the Philippines)
Makati City, Metro Manila  ) S.S.

BEFORE ME, a Notary Public for and in the City of Makati, Metro Manila, personally appeared:

Salvador B. Locsin

Enrique Gabriel G. Locsin        16343223E Q.C. 1-2-98

Jesus Salvador G. Locsin, Jr. 16426997E Q.C. 1-15-98

known to me to be the same persons who executed the foregoing document of CANCELLATION OF DEED OF ABSOLUTE SALE and they acknowledged to me that they executed the same as their free and voluntary act and deed.

I HEREBY CERTIFY that the foregoing document consists of three (3) pages including this page, and that the parties and their witnesses signed their names and on one (1) parcel of land covered by TCT No. N-139672 with the Registry of Deeds of Quezon City.

IN WITNESS WHEREOF, I have hereunto set may hand and affixed my notarial seal this ____ day of ____________ 1998.

Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2000.