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CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made and executed this _____ day of _________
__________ by and between:

BPI Leasing Corporation thru Ed Villamor, of legal age, married, Filipino, and
with residence and postal address at _________________________________,
Philippines, hereinafter referred to as the "SELLER / VENDOR";

-AND-

PATRICIO J. GONZALES, of legal age, married, Filipino, and with residence and
postal address at __________________________________, Philippines, hereinafter
referred to as the "BUYER / VENDEE".

WITNESSETH;

WHEREAS, the SELLER / VENDOR is the absolute and registered owner of the
following motor vehicle, more particularly described as follows:

MODEL : Toyota Vios


MAKE : ___________________
COLOR : Silver
BODY : ________________________
YEAR MODEL: 2008 Model
MOTOR NO. : ____________________
SERIAL / CHASSIS NO. : ____________
PLATE NO. : ZNM 146
FILE NO. : ___________________
C.R. NO. : ___________________

NOW THEREFORE, for and in consideration of the total sum of Two Hundred
Thousand Pesos only (Php 200,000.00) Philippine currency, and of
the covenants herein after set forth, the SELLER / VENDOR agrees to sell and
the BUYER / VENDEE agrees to buy the aforesaid motor vehicle subject to the
following terms and conditions:

1. The BUYER / VENDEE shall pay a downpayment of Fifty Thousand pesos (Php
50,000.00) Philippine currency, upon execution of this Contract to Sell;

2. Possession to the aforesaid motor vehicle shall be delivered by the SELLER /


VENDOR to the BUYER / VENDEE upon the downpayment referred to herein;

3. The balance of One Hundred Fifty Thousand Pesos (Php 150, 000.00)
Philippine currency, shall be paid by the BUYER / VENDEE to the SELLER /
VENDOR in 16 months for installments at Ten Thousand Pesos (Php 10,
000.00) Philippine currency, per month. Otherwise, the BUYER / VENDEE, if
unable to pay two consecutive equal installments, shall immediately turnover
possession of the subject motor vehicle to the SELLER / VENDOR immediately
and all the installments already made shall be considered as mere rentals for the
use of the subject motor vehicle;
4. Upon full payment of the aforesaid purchase price, the SELLER / VENDOR shall
sign and execute a DEED OF ABSOLUTE SALE in favor of the BUYER /
VENDEE for the aforesaid motor vehicle, free from all liens and encumbrances
whatsoever;

5. All expenses arising out of or incidental to the execution of the corresponding


Deed of Absolute Sale, as well as registration fees required to transfer ownership
to the BUYER / VENDEE’s name shall be for the exclusive account of the
BUYER / VENDEE;

6. All fuel expenses as well as expenses for the maintenance, repairs, future
insurance and registration fees of the subject motor vehicle shall, starting from
the date of delivery thereof to the BUYER / VENDEE, shall be borne by the
BUYER / VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
_____ day of ___________ at _________________, Philippines.

BPI Leasing Corporation thru Ed Villamor


Seller/vendor

PATRICIO J. GONZALES
Buyer / Vendee

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


_____________________________ ) SS.

BEFORE ME, a Notary Public, this _______ day of __________, personally appeared
the following:

Name CTC Number Date/Place Issued


This instrument, consisting of three (3) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the concerned parties and their witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place
above written.

Notary Public