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CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:


This Contract, made and executed at Bacolod City, Philippines, this ___ day of
____ 2019, by and between –

ANGELINA F. NAROTHAM of legal age, Filipino, married to


HARISH NAROTHAM (also known as HARISHCHANDRA
NAROTHAM) and residing at Haslington, Crewe, Cheshire, UK)
duly represented by their attorney-in-fact, G. ROMULO F. LOPEZ,
of legal age, Filipino, married and a resident of Bacolod City, by virtue
of the Special Power of Attorney notarized before the Embassy of the
Philippines in London, United Kingdom docketed as Document No.
10456, Service No. 29927; Case No. 01-000131, hereto attached as
Annex A and forming part hereof, hereinafter referred to as the
SELLER.
-and-

SPS. JANICE LALA QUINTO and ROMERICO V. QUINTO,


both of legal age, Filipino, married and residents of Brgy. 3, E.B.
Magalona, Negros Occidental, Philippines, duly represented by their
attorney-in-fact, ELLEN S. LALA, of legal age, Filipino, married and
a resident of Brgy. 3, E.B. Magalona, Negros Occidental, Philippines,
by virtue of the Special Power of Attorney notarized before the
Embassy of the Philippines in Port Moresby, Papua, New Guinea
docketed as Document No. 2855, Page No. 119; Book No. 11, Series of
2018;Service No. 8442-43; hereto attached as Annex B and forming
part hereof, hereinafter referred to as the BUYER.

WITNESSETH:
WHEREAS, the SELLER is the absolute and registered owner of the real
properties with improvements thereon known as Lot 163 D and Lot 163-E-2-A
situated in Brgy. 111 Poblacion, E.B. Magalona, Negros Occidental, Philippines,
covered by TCT Nos. T-152217 and 091-2018005384, respectively, issued by the
Registry of Deeds for the Province of Negros Occidental particularly described as
follows:

Transfer Certificate of Title


No. T-152217
A PARCEL OF LAND (Lot 163-D, Psd-06-008369, being a portion of Lot
163 Saravia Cad.), situated in the Poblacion, Mun. of E.B. Magalona,
Province of Neg. Occ, Island of Negros. X X X Containing an
area of THREE HUNDRED NINETY TWO (392 sq.m.), SQUARE
METERS, more or less. X X X

Transfer Certificate of Title


No. 091-2018005384
LOT NO:163-E-2-A, of SUBDIVISION PLAN:(LRA)PSD-E-2018001221
PORTION OF: LOT 163-E-2 (LRC) PSD-353171
LRA (CAD) REC. NO. 75
LOCATION: BARRIO OF POBLACION, MUNICIPALITY OF E.B.
MAGALONA
AREA: TWO HUNDRED SIXTY ONE SQUARE METERS (261)
MORE OR LESS
X X X

WHEREAS, the BUYER/VENDEE has offered to buy and the


SELLER/VENDOR has agreed to sell the abovementioned properties, under the
terms and conditions herein below set forth;

NOW, THEREFORE, for and in consideration of the foregoing premises and


the payment of the purchase price as set forth herein, the SELLER by these presents,
agrees to sell, transfer and convey unto the BUYER by way of Contract to Sell the
above-described real properties, subject to the following terms and conditions, to wit:

Purchase Price:
1.1 That the total consideration for the sale of these properties shall be FOUR
MILLION FOUR HUNDRED THOUSAND PESOS (P4,400,000.00)
in Philippine currency.

Scope:

2.1 The SELLER hereby conveys and transfers to the BUYER all the rights and
interest she may have or will have over the following:

a) The lots known as Lot 163D & Lot 163E2A


b) A two storey, 5 bedroomed dwelling described in detail on the attached
prospectus
c) An outbuilding, known as the ‘dirty kitchen’
d) The entrance gates, and surrounding walls, driveway on the property, and
garden plants
e) An external well-house

2.2 The property is sold without the loose contents & furnishings contained within
the house

2.3 Lot 163-E-2-B which is covered by a different title is also specifically excluded
from this agreement

Mode of Payment:
3.1 That the total purchase price shall be paid by the BUYER to the SELLER as
follows:
a) A downpayment in the amount of SEVEN HUNDRED TWENTY
THOUSAND PESOS (P720,000.00) shall be paid upon signing of this
Contract to Sell and shall form part of the purchase price. Receipt of which is
hereby acknowledged;

b) It is further stipulated that the remaining amount of THREE MILLION


SIX HUNDRED EIGHTY THOUSAND PESOS (P3,680,000.00)
shall be paid upon release of the loan as supported by the Notice of
Approval and Loan Guaranty issued by PHILIPPINE NATIONAL BANK.

3.2 That in the event that the approved loan amount is less than the selling price,
BUYER shall pay the remaining balance within 30 days from release of the
loan by way of postdated check. Otherwise, he shall be liable for a monthly
interest of one percent (1%) of the remaining balance.

3.3 Should the same be withdrawn or cancelled by the Bank, BUYER shall be given
a grace period of 60 days to apply for a loan with other banks. Otherwise, this
Contract shall cease to exist and deemed ineffectual and the downpayment of
SEVEN HUNDRED TWENTY THOUSAND PESOS (P720,000.00)
shall be returned by the SELLER to the BUYER less the penalty of 5% of the
payment made;

Delivery of Title and Execution of the Deed of Absolute Sale; Taxes and
Expenses:

4.1 It is agreed that the latest Tax Declaration, Tax Clearance, Vicinity Map, and
all other documents necessary for the loan application of the BUYER with the
bank shall be delivered by the SELLER to the BUYER upon downpayment
simultaneous with the execution of this contract to sell;

4.2 That the BUYER/VENDEE can take possession and control of the property
only upon full payment of the contract selling price;

4.3 Deed of Absolute Sale shall be executed by both parties upon issuance by the
bank of the Letter of Guaranty for the applied loan as heretofore mentioned in
paragraph 3.1.b;

4.4 It is likewise agreed that Transfer Certificate of Title Nos. No. T-152217 and
091-2018005384 shall be delivered by the SELLER to the BUYER only upon
issuance of the bank of the Letter of Guaranty and the postdated check in the
event that the approved loan amount is less than the selling price as
mentioned in paragraph 3.2

Taxes and Expenses:

4.1 Real property taxes and assessments on the property prior to the execution of
the Deed of Absolute Sale shall be for the account of the SELLER. Subsequent
real property taxes and other assessments due on the property shall be for the
account of the BUYER.

4.2 Capital Gain Tax shall be shouldered by the SELLER while Documentary
Stamp Tax, Transfer taxes shall be shouldered by the BUYER equally.

4.3 Registration Fee and expenses and all other miscellaneous fees and expenses
in connection with the transfer of title shall be for the account of the
BUYER/VENDEE;

IN WITNESS WHEREOF, we have hereunto affixed our signatures this


_________________ at Bacolod City, Philippines.

ANGELINA F. NAROTHAM JANICE LALA QUINTO


Seller Buyer
TIN 497-196-460 TIN

HARISH NAROTHAM ROMERICO V. QUINTO


ID No. Buyer
TIN

Duly represented by Duly represented by


their attorney-in-fact: their attorney-in-fact:

G. ROMULO F. LOPEZ ELLEN S. LALA


SIGNED IN THE PRESENCE OF:
_____________
______________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


CITY OF BACOLOD )S.S

BEFORE ME, personally appeared the following:

Name Competent Evidence of Identity

G. ROMULO F. LOPEZ
ELLEN S. LALA

known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged that the same is their free act and voluntary deed and
of the entity represented.

This Contract to Sell consisting of four (4) pages including this page wherein the
acknowledgment is written had been signed by the parties and their witnesses on
each and every page thereof and relates to the sale of a real properties with
improvements thereon covered by Transfer Certificate of Title Nos. T-152217 and
091-2018005384.

IN WITNESS WHEREOF, I have hereunto set my hand this


__________________ at Bacolod City, Philippines.

Doc. No. ____;


Page No. ____;
Book No. ____;
Series of 2019