CONTRACT TO SELL

WITH EXTRAJUDICIAL SETTLEMENT OF A PORTION

OF THE ESTATE OF THE LATE RAFAEL RICABLANCA

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL WITH EXTRAJUDICIAL SETTLEMENT OF A

PORTION OF THE ESTATE OF THE LATE RAFAEL RICABLANCA, made and
executed this 3rd day of November, 2018 at Tandag City, Surigao del Sur, by and
between:

TWO OUT OF THE THREE HEIRS OF THE LATE RAFAEL RICABLANCA, namely:

• EDNA D. RICABLANCA, Senior Citizen, widow, Filipino citizen and a resident of

Barangay Bag-ong Lungsod, Tandag City, Surigao del Sur;

• CHARLOTTE D. RICABLANCA-FALCASANTOS, of legal age, married, Filipino

citizen and a resident of Dr. Bernardino Pasonanca, Pasonanca, Zamboanga City; as
the "SELLERS/VENDORS";

-AND-

• WENDYL FERNANDEZ BENIGA, of legal age, married, Filipino citizen and a

resident of Barangay Quezon (Sotel), Tandag City, Surigao del Sur, hereinafter referred
to as the "BUYER/VENDEE".

WITNESSETH:

WHEREAS, the SELLERS/VENDORS are two of the three living heirs of the late
Rafael Ricablanca, being the surviving spouse and eldest daughter of RAFAEL
RICABLANCA, who died intestate on July 10, 2017 at Tandag City, Surigao del Sur;

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 WHEREAS, the late RAFAEL RICABLANCA at the time of his death had left
several real properties and one of which is a lot situated at Barangay Quezon, Tandag
City, Surigao del Sur, which is more or less particularly described as follows:

“A parcel of land, declared under Tax Declaration No.

14-01-13-00256 under the name of Rafael
Ricablanca, situated at Barangay Quezon, Tandag
City, Surigao del Sur, with Survey No. CAD.392-D, Lot
No. 1055, containing an area of SIX THOUSAND
TWO HUNDRED SIXTY TWO SQUARE METERS or
0.6262 HECTARES, more or less, which is bounded
on the North by Lot No. 40,05; on the South by Lot
No. 38; on the East by Lot No. 07 and on the West by
SEC.002”

WHEREAS, the above-described property is own in common by the three living

heirs of Rafael Ricablanca, namely: Edna D. Ricabalanca, the surviving spouse;
Charlotte D. Ricablanca-Falcasantos, the eldest daughter and Vivien Ann D. Ricablanca
Estaño, the youngest daughter and to the best of their knowledge and information , the
said deceased left no debt at the time of his death;

WHEREAS, two of the living heirs of Rafael Ricablanca who are parties to this
instrument are both of legal age and with full civil capacity to contract, hereby by these
presents agree the following terms, to wit:

• That the whole lot will be divided equally into two which means that the 0.6262
Hectares will be divided equally into two which will results to two 0.3131 Hectares;

• That the 0.3131 Hectares will be the share of Charlotte D. Ricablanca-

Falcasantos and the other 0.3131 Hectares will be the share of Vivien Ann D.
Ricablanca-Estaño;

• That the surviving spouse, Edna D. Ricablanca , agreed and covenanted to

CEDE, TRANSFER and CONVEY unto her two daughters: Charlotte D. Ricablanca-
Falcasantos and Vivien Ann D. Ricablanca-Estaño, her full share of the said lot which
will make the share of her two daughters as 0.3131 hectares each;

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• That Edna D. Ricablanca hereby waived and renounced, as by these presents,
hereby WAIVE and RENOUNCE her share, right and participation over the above-
described properties to her two daughters: Charlotte and Vivien Ann, making their
shares as 0.3131 hectares each, as mentioned above;

• That since a portion of said lot was already sold to another third party; the share
of Charlotte D. Ricablanca-Falcasantos is now only TWO THOUSAND SIX HUNDRED
NINETY FOUR SQUARE METERS which is the subject of this CONTRACT TO SELL;

WHEREAS, the two living heirs of Rafael Ricablanca, Edna D. Ricablanca and
Charlotte D. Ricablanca-Falcasantos, who are herein also are the HEIRS-VENDORS,
being both of legal age and with full civil capacity to contract, hereby by these presents
agree to adjudicate among themselves the 2,694 square meters of the above-described
property in accordance under Section 1, Rule 74 of the New Rules of Court which
property is own by them in common and to the best advantage among themselves have
agreed to just sell the said portion of the said lot to WENDYL FERNANDEZ BENIGA, an
interested buyer;

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

/VENDORS have agreed to sell the above mentioned property under the terms and
conditions herein below set forth;

NOW THEREFORE, for and in consideration of the total sum of TWO MILLION
SIX HUNDRED NINETY FOUR THOUSAND (2, 694, 000.00 Php) Philippine Currency,
and of the covenants herein after set forth the SELLERS/VENDORS agree to sell and
the BUYER/VENDEE agrees to buy the aforesaid property subject to the following
terms and conditions:

1. The total consideration shall be TWO MILLION SIX HUNDRED NINETY FOUR
THOUSAND (Php: 2, 694, 000.00) PESOS, Philippine Currency, payable as follows:

a) The amount of ONE HUNDRED FIFTY THOUSAND (Php: 150,000.00) PESOS,

representing earnest money shall be payable by the BUYER/VENDEE to the
SELLERS/VENDORS upon signing of this Contract to Sell;

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b) The remaining balance in the amount of TWO MILLION FIVE HUNDRED FORTY
FOUR THOUSAND (Php: 2, 544, 000.00) PESOS, shall be paid in Cash on or before
June 30, 2019;

c) That anytime this month of November 2018, the BUYER/VENDEE will tender an
additional amount of FOUR HUNDRED THOUSAND (Php: 400, 000.00) PESOS to the
SELLERS/VENDORS and shall form part as the amount of the Sale and shall be
deducted to the balance;

d) That from November 2018 and anytime in between June 2019, when the
SELLERS/VENDORS will have emergency need of money, they can demand from the
BUYER/VENDEE any amount and such amount will be deducted from the balance for
as long as the FULL Payment of the amount shall be paid in cash and be given to the
BUYER/VENDOR, CHARLOTTE D. RICABLANCA-FALCASANTOS;

e) In case any violations of the conditions herein provided, the earnest money, shall be
forfeited in favor of the SELLERS/VENDORS;

2. Capital Gains Tax and Real Estate Tax, shall be for the account of the
BUYER/VENDEE;

3. Documentary Stamps Tax, Registration Fee, registration expenses, and all other
miscellaneous fees and expenses for the transfer of the Title and Tax Declaration in the
name of the BUYER/VENDEE shall be to the account of the BUYER/VENDEE;

4. Temporary possession to the subject property shall be for the enjoyment of the
BUYER/VENDEE but shall be delivered in FULL by the SELLERS/VENDORS to the
BUYER/VENDEE upon full payment of the total consideration;

ContractToSell Page 4
5. Upon full payment of the total price, the SELLERS/VENDORS shall sign and
execute a DEED OF ABSOLUTE SALE in favor of the BUYER/VENDEE. The
SELLERS/VENDORS shall likewise execute and/or deliver any and all documents,
including but not limited to the Tax Declaration and all other documents necessary for
the transfer of ownership from SELLERS/VENDORS to the BUYER/VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
rd
3 day of November, 2018 at Tandag City, Surigao del Sur, Philippines.

EDNA D. RICABLANCA CHARLOTTE RICABLANCA-FALCASANTOS

Heir-Vendor Heir-Vendor
OSCA ID No. 8634 VIN: 7332-0409A-G2675CRF20001-2
Issued on: 02-15-17 Issued By: COMELEC, Zamboanga City
Issued by: OSCA Tandag City

WENDYL FERNANDEZ BENIGA

Vendee
Resident Identity No. 2256767910
Issued by the Ministry of Interior
Kingdom of Saudi Arabia

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

Province of Surigao del Sur) SS.

BEFORE ME, a Notary Public, this 3rd day of November 2018,at Tandag City for
Cantilan, Surigao del Sur, personally appeared the following:

EDNA D. RICABLANCA
Heir-Vendor
OSCA ID No. 8634
Issued on: 02-15-17
Issued by: OSCA Tandag City

CHARLOTTE RICABLANCA-FALCASANTOS
Heir-Vendor
VIN: 7332-0409A-G2675CRF20001-2
Issued By: COMELEC, Zamboanga City

WENDYL FERNANDEZ BENIGA

Vendee
Resident Identity No. 2256767910
Issued by the Ministry of Interior
Kingdom of Saudi Arabia

who executed this instrument who are known to me and personally known to me to be
the same persons who executed this Contract to Sell and who exhibited to me their
valid and competent evidence of their identity which is stated below their names

This instrument, consisting of seven (7) 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.

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 ATTY. JOSE P. ZAFRA IV, R.M.T.
Notary Public
for and in the Province of Surigao del Sur
Until December 3, 2019/Misc. No. C-369
ZAFRA LAW OFFICES
09224309694/086-211-3216
Attorney Roll No. 628222-5/6/2014
IBP No. 1064054/Bislig City, SDS
PTR No. 7347018/Tandag City, SDS
MCLE No. VI-0004886-04/14/2022

Doc. No. _______;

Page No. ______;
Book No. _______;
Series of 2018

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