Republic of the Philippines)

__________________)ss.

EARNEST MONEY RECEIPT and AGREEMENT

RECEIVED FROM _______________, Inc.,

________________________, with postal address at
_______________________, the sum of TWO MILLION FIVE HUNDRED
THOUSAND (Php2,500,000.00) PESOS as and for EARNEST MONEY for
the sale of the parcel of agricultural land, located at
______________________________ covered by _______________, with
lot area of _______________________________ (_____) square meters,
more or less, registered under the name of _______________ (hereinafter,
referred to as “SELLER”).

It is understood and agreed between the parties that:

1. The total selling price for the property shall be ______________

(_________________) PESOS.

2. EARNEST MONEY - The sum of TWO MILLION FIVE HUNDRED

THOUSAND (Php2,500,000.00) PESOS given as Earnest Money
prohibits the SELLER from offering, selling, mortgaging, encumbering, or
in any manner transferring the ownership of the PROPERTY or any of the
SELLER’s rights and interest over the same to another party until ninety
(90) days after the signing of this agreement (hereinafter to be known as
“RESERVATION PERIOD”). The Earnest Money shall be treated as part
of the consideration and deductible from the purchase price. The
SELLERS, in exchange, shall, among other things, submit to the BUYER,
before the expiration of the RESERVATION PERIOD, the documents
mentioned in Item 3 hereof.

3. FEASIBILITY PERIOD - Subject to the submission by the SELLERS of the

documents mentioned below or any other document/s which the BUYER
may, during the RESERVATION PERIOD, require, the BUYER shall have
until ________________ to perform all feasibility and due diligence over
the Subject Property. SELLERS shall fully cooperate with BUYER in
providing any and all information available regarding the property and to
provide the latter with the following documents –

A. Certified True Copy of Tax Declaration No. ___________ under

the name of the SELLER
 B. Original or Certified True Copy of the Barangay Certification
stating that the SELLER is the present occupant of the Subject
Property
C. 2 Government issued Identification cards of the SELLERS
D. Latest Real Property tax receipts
E. Real Property Tax Clearance
F. DENR Certification stating that the Subject Property is an
Alienable and Disposable Land

4. __________ will shoulder the Capital Gains Tax, Documentary Stamp

Tax, Transfer Taxes and Registration Fees, while the _________ will
shoulder the Broker’s commission and any unsettled fees/taxes which are
yet to be settled prior to this agreement.

5. Should the SELLER decide not to continue with the sale of the Subject
Property, for any reason whatsoever, other than failure of the BUYER to
pay, SELLER shall return the earnest money of TWO MILLION FIVE
HUNDRED THOUSAND PESOS (PHP2,500,000.00) plus damages of 12%
per annum to the BUYER within seven (7) days from notice to the BUYER
of the said SELLERS’ decision, without necessity of prior notice or
demand.

6. Should there be an anomaly after the verification of the documents

mentioned in Item 3 or any information obtained during the feasibility
period that would prohibit and/or bar the sale of the PROPERTY or the
transfer of the SELLER’s rights and interest therein, the SELLER shall
return the Earnest Money to the BUYER within 7 days from being notified
by the latter. On this respect, said earnest money tendered to the SELLER
shall be subjected to ____% interest reckoned from the actual date of
receipt thereof by the SELLERS.

If the above outline of terms and conditions are acceptable, please indicate
by signing below. All parties to these transactions intend that this Earnest
Money Agreement be superseded by a Contract to Sell/Deed of Absolute
Sale and/or any other contract necessary to effect the transfer/disposition of
the Subject Property in favor of the BUYER. In the meantime, all parties
agree to proceed in accordance with terms and conditions outlined in this
Earnest Money Agreement. SELLER understands that the purpose of this
Earnest Money Agreement is to allow further investigation by both parties
into the feasibility of entering into a formal agreement. If the Contract to
Sell/Deed of Sale or any other contract applicable under the circumstances is
not mutually executed after the Feasibility Period for any reason whatsoever
or no reason at all, this Earnest Money Agreement shall expire and no party
shall have any further rights or duties hereunder except as provided in Items
5 and 6 above.

2
 SELLER BUYER

_________________ Company Name

TIN:__________ TIN: __________

By: ____________ By: _____________

Authorized Representative Authorized Representative

TIN: __________ TIN: __________

WITNESSES:

___________________________ ____________________________

Republic of the Philippines)

__________ )ss.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public, for and in _________________ this

__________________, personally appeared the following:

NAME TIN/PASSPORT/I.D. DATE/PLACE

No. ISSUED
_______________, Inc.

all known to me and to me known to be the same persons who executed the
foregoing agreement and they acknowledged to me that the same is their
free and voluntary act and deed and that of the corporation represented
herein.

3
 This Earnest Money Receipt and Agreement consists of four (4) pages
including the page on which this Acknowledgment is written and has been
signed by the parties and their witness on each and every page hereof.

WITNESS MY HAND AND SEAL on the date and place stated above.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2018.