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KNOW ALL MEN BY THESE PRESENTS: This agreement made and entered into by and between: EE, married, of legal age, Filipino and a resident of_______________, Cebu City, Philippines, hereafter referred to as the FIRST PARTY; -andSPS. _____________and____________, Filipinos, of legal age and residents of_______________, Cebu City, Philippines, hereafter referred to as the SECOND PARTIES. Witnesseth, that: 1. The FIRST PARTIES shall sell a lot to the SECOND PARTIES for a consideration of _________________PESOS (P_____.00), Philippine Currency the property is hereby described below: “A parcel of land Lot ___, Blk ___ of the consolidation plan, L.R.C. Pcs-____ situated in the City of____, containing an area of _____ (___) square meters more or less and covered by TCT No. __________” 2. The SECOND PARTIES shall make a down-payment of ______________PESOS (P_____.00), Philippine Currency upon the signing of this contract. 3. The balance of ___________PESOS (P____.00) shall be payable on installments and covered by postdated checks as follows: Date Check No. Amount
4. The SECOND PARTIES shall be responsible for all expenses relative to transfer of title from the FIRST PARTIES to the SECOND PARTIES 5. Upon the last and final payment by the SECOND PARTY, the FIRST PARTY shall duly execute a Deed of Absolute Sale in favor of the SECOND PARTY to effect the transfer of ownership; 6. In the event of failure on the part of the SECOND PARTY to pay any of the stated installments or make good the checks issued when the same falls due, this Contract to Sell shall be terminated. Thereafter all installment payments made by the SECOND PARTY shall be forfeited in favor of the FIRST PARTY and shall be treated as rentals for the property abovementioned. Upon the termination of this Contract to Sell, FIRST PARTY shall be free to sell and dispose the property to any willing third party.
IN WITNESS WHEREOF, We have hereunto set our hands and affixed our signatures this _____ day of ____________at Cebu City, Philippines.
(First Parties) SIGNED IN THE PRESENCE OF: __________________________ REPUBLIC OF THE PHILIPPINES) CITY OF CEBU) S.S.
ACKNOWLEDGMENT BEFORE ME, Notary Public, in and for the City aforesaid this ____ day of ______, 2009, personally appeared: Name ________________________ ________________________ ________________________ known to me and to me known to be the persons who signed and executed the foregoing instrument and acknowledged to me that the same is their free and voluntary act and deed and the free and voluntary act and deed of the person represented herein. This document, consisting of two (2) pages including this page where the acknowledgment is written has been signed by the parties and their instrumental witnesses on each and every page. WITNESS MY HAND AND SEAL on the date and place herein mentioned. Doc. No. Page No. Book No. Series of 2009. Notary Public Passport Nos. Date/Place of Issue