TENTH DIVISION
[CA-G.R. CV No. 63671. August 29, 2000.]
TITA LABARIA, NESTOR N. LABARIA, LOURDES JURADO, BERNADETTE LABARIA, JUDY CAGULADA, EMMANUEL N. LABARIA, POMPEY LABARIA, HRS. OF CRISPIN LABARIA, HRS. OF VIRGILIO LABARIA, and AIDA LABARIA, all represented by NESTOR N. LABARIA, petitioners-appellees, vs. DEPARTMENT OF AGRARIAN REFORM ADJUDICATION BOARD (DARAB), OR ITS DULY AUTHORIZED REPRESENTATIVE, and THE LAND BANK OF THE PHILIPPINES (LBP), OR ITS AUTHORIZED REPRESENTATIVE, respondents.
LAND BANK OF THE PHILIPPINES, respondent-appellant.
D E C I S I O N
CRUZ, J p:
Petitioners-appellees and respondent-appellant Land Bank of the Philippines, assisted by their respective counsel, submitted a Compromise Agreement which pertinently reads:
"1. That a Decision dated 17 August 1998 was rendered in the above-entitled case the dispositive portion of which reads:
"WHEREFORE, the foregoing premises considered, judgment is hereby rendered fixing for just compensation of the subject properties at P45,000.00 per hectare; plus interest of 6% per annum from date of filing of this action; and, further orders the defendants to account and to pay the shares of petitioners in the income and produce of the land which they were deprived of since 1992 after the issuance of the CLOA; and to pay attorneys fees and cost of litigation; and to pay the costs."
2. That Land Bank of the Philippines has filed a Notice of Appeal which was given due course by this Honorable Court;
3. That parties have come to an agreement to finally settle the case; thus petitioners and respondent Land Bank of the Philippines have agreed to undertake the following:
a) That Land Bank agrees to pay petitioners the just compensation of the properties covered by CARP under Original Certificates of Title Nos. P-31325, P-31326, P-31327, P-31328, P-31329, P31330, P-31331, P-31332, P-15962 and P-779, all described in the amended petition, in the amount of P40,000.00/hectare, for the total area covered under CARP, subject to the result of the final survey segregating the unacquired portions; Provided, that the previous valuation approved and deposited by Land Bank shall accrue to the petitioners together with the earned interest thereon; Provided further, that the previously approved valuation shall be deducted from the total agreed compensation of P40,000.00/hectare the difference of which shall earn interest to be computed in accordance with existing Land Bank guidelines and policies;
b) That petitioners agree to submit all documentary requirements to Land Bank before payment may be made;
c) That all taxes, fees and other expenses prior to the transfer of the title to the name of the Republic of the Philippines shall be borne by the petitioners, while, all other taxes and fees arising thereafter shall be borne by respondents;
d) That Land Bank of the Philippines agrees to withdraw the appeal upon the approval of this agreement;
e) That, other than that stated in paragraph 3.a of this Compromise Agreement, petitioners have no more claim whatsoever against Land Bank and hereby waives all its rights and interest adjudged in the Decision dated 17 August 1998 including attorneys fees and costs of litigation, and further waives any other action arising out of or relating to the coverage of subject properties under CARP;
4. That petitioners are represented in this agreement by Nestor N. Labaria, evidenced by the special power of attorney issued in his favor herewith attached as Annexes "A" to "C"; while respondent Land Bank of the Philippines is represented in this agreement by ROMMEL M. MENDOZA, in his capacity as the Acting Head, Land Bank of the Philippines, Land Valuation Office 10, Cagayan de Oro."
Since the above-quoted Compromise Agreement is not contrary to law, public order, public policy, morals and good customs, judgment is rendered in accordance therewith and the parties thereto are enjoined to strictly comply with the terms and conditions thereof. aTAEHc
SO ORDERED.
Barcelona and Buson, JJ., concur.