CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this 4th day of February, 2014 by and between:

HAROLD L. HERNANDEZ, of legal age,

single, Filipino, and with residence and postal
address at 56 LEO STREET, VERAVILLE
HOMES, ALMANZA UNO, LAS PIÑAS CITY
hereinafter referred to as the SELLER/VENDOR;

AND

RICO ANDRO T. CORALDE, of legal age,

single, Filipino, and with residence and postal
address at 7307 J.VICTOR STREET,
BARANGAY PIO DEL PILAR, MAKATI CITY
hereinafter referred to as the
BUYER/VENDEE;

WITNESSETH

I – CONSIDERATION:

That for and in consideration of the sum of three million pesos, Philippine currency, which the
buyer has bound himself to pay in a manner hereinafter specified and in further consideration of
strict compliance by the buyer of the terms, conditions, and restriction and easements hereinafter,
the seller has contracted to sell to the buyer and the latter has agreed and contracted as it hereby
agrees to contracts to buy from the former one parcel of land situated at BARANGAY SAN
GREGORIO, MUNICIPALITY OF LAUREL, PROVINCE OF BATANGAS and covered
by Transfer Certificate of Title No. T-61452 issued by the Registry of Deeds of Laurel, Batangas,
containing an area of ONE HUNDRED FIFTY (150) square meters, more or less.

II – MANNER OF PAYMENT:

The buyer hereby agrees to pay the total purchase price of three Million (Php: 3,000,000.00)
PESOS, Philippine Currency in the following manner and under the following terms and
conditions:

a. Deposit of one million pesos ( Php 1,000,000 ) which is hereby acknowledged as

downpayment shall be payable by the BUYER to the SELLER upon signing of this
Contract to Sell;

b. Two months in equal, consecutive, successive monthly installments not exceeding one
year beginning March 2014 and every 5th of the month thereafter at the rate of one million
pesos, in cash or in check, each installment including interest rate of zero percent, on all
outstanding or unpaid balance. The interest shall accrue from the date of contract.

c. Non- delivery of this contract to sell to the buyer shall not delay the commencement of
the payment of the monthly installment.
 d. Payment made by the buyer shall be applied in the following order:

1. To the surcharge and or other penalties due and outstanding if there be any.
2. To the interest due and outstanding.
3. To the outstanding balance of the principal.

e. In the event of devaluation or inflation of the Philippine currency due to any reason
whatsoever, the basis of payment of the monthly installments as provided herein shall be
the value of the Philippine peso at the time of the execution of this agreement, as
provided for under Article 1250 of the New Civil Code.

f. In case of war, the seller shall not be obliged to accept payment, and in case the seller
shall have chosen not to be so obliged, the unpaid balance of the purchase price shall not
earn any interest during the war period when payment is suspended.

g. In case the check representing the payment for the balance provided in paragraph B
hereof, is dishonored by the drawee bank, the earnest money in the amount of ONE
MILLION (Php: 1,000,000.00) PESOS, shall be forfeited in favor of the seller.

III - POSSESSION:

The buyer may, for all legal intent and purpose, take possession of the parcel of land upon
payment of not less than fifty percent ( 50% ) of the total purchase price; provided however that
his possession under this section shall be limited to the rights of a lessee under the New Civil
Code, and any violation or breach of any stipulation or condition in this agreement at any time
during the entire period thereof shall be construed as a violation or breach of a lease contract
between the parties and accordingly give rise to any and all rights and remedies that a lessor may
exercise including but not limited to ejectment proceedings, provided further that the seller
cannot be compelled to change the tax declaration of the property until after the entire purchase
price, interest thereon as well as other obligation mentioned therein are fully paid by the buyer.

That the buyer bind himself during the lifetime of this contract, not to alter, remove, displace, or
in a way interfere with any monument of any other evidence of boundary upon said premises nor
shall allow others to commit any of the aforesaid acts.

The buyer warrant to have personally inspected the parcel of land, verified its location and
boundaries and is satisfied of the complete absence of occupants, squatters or any physical
encumbrances.

IV – PLACE OF PAYMENT

All downpayments and installments shall be payable solely to the seller, and shall be made by the
buyer to the seller or its duly designated agents at the latter’s residence at 56 LEO STREET,
VERAVILLE HOMES, ALMANZA UNO, LAS PIÑAS CITY or at any bank designated by the
seller at the latter’s convenience.

V – TAXES

Real estate taxes and assessments on the lot shall be paid by the seller. However, should the
buyer take possession of the lot he shall be liable to the seller for such taxes and assessments
effective the year following such taking possession and occupancy.

VI – CALCELLATION OF THIS CONTRACT

Should the buyer fail to pay any of the monthly installments together with the interest therein as
agreed herein or all of the taxes and assessment levied on the property during the term thereof,
this contract shall, by virtue of the mere fact of non-payment, expire the contract by itself and
such will become null and void within sixty days ( 60 ) from due date. All improvements made
on the premises shall become the property of the seller. In this event, the buyer should he be in
possession of the property shall become intruders or unlawful detainer. Immediately after the
expiration of the sixty days period provided for in this clause, the seller shall be at liberty to
dispose of or sell said parcel of land together with all the improvements made thereon to any
other person in the same manner as if this contract has never been executed or entered into,
subject to the provision of Republic Act No. 6552 otherwise known as the Maceda Law in so far
as said law is applicable.

The seller, in its sole and absolute discretion, may allow the buyer to pay the outstanding unpaid
capital totally or partially, upon such term and conditions, as may be imposed by the seller;
provided that in the case the seller allows partial payments in advance, such payments, will not
relieve the buyer from paying the agreed monthly installments. The only effect of such partial
payment being merely to shorten the terms of the contract. Payment of fractional installments
will not be accepted.

The breach of the buyer of any of the conditions contained herein shall have the same effect as
non-payment of the installment of the purchase price. The failure of the seller to require the
buyer to comply with any of the terms of this agreement shall not be construed as a waiver of
any subsequent failure of compliance by the buyer with the same of other terms of this contract.
It is further understood and agreed that no delay or omission of the seller in exercising any right
shall be construed as a waiver thereof and that no acceptance by the seller of any payments made
in any manner or at a time other than as herein provided shall be construed as a variation of the
terms hereof.

In any of the above cases, the buyer recognize the right of the seller or its representative to enter
into the property, to take possession of the same and take whatever action is necessary or
advisable to protect its rights and interest in the property and nothing that may be done or made
by the buyer shall be considered as revoking or denying this recognition.

VII – DOCUMENTARY STAMPS AND OTHER FEES

The buyer agrees to pay; in addition to the purchase price and interest thereon mentioned the
following:

1. The documentary stamps, sales tax and execution fees of this contract as well as those
of the corresponding Deed of Absolute Sale, the registration fees of the latter and all
other expenses as agreed therein;

2. Light, power and water service connection;

3. Other fees, expenses, and penalties hereinafter provided when the seller is entitled to
the same; and

4. Expenses to effect the issuance of Transfer Certificate of Title in the name of the
buyer.

VIII – CONDONATION OR RECONSIDERATION

That whatever consideration that the seller may give to the buyer such as not exacting a strict
compliance with the conditions of section VI of this contract shall not mean a renunciation or
waiver on the part of the seller to require strict compliance thereof.

IX – RIGHT OF THE SELLER TO ENTER PROPERTY FOR PUBLIC SERVICES

The buyer hereby agree that the seller or its authorized representative shall have the right to enter
the property at any time for the purpose of inspecting, measuring, relocating, surveying, laying of
monuments of necessary line of water or electrical power, telephone, and other public services.
And, any inconvenience or disturbance thus created shall not be a ground for the rescission of
this agreement or a cause of action for damages.

X- TRANSFER OF RIGHTS
The buyer agree not to sell, cede, lease, transfer or in any manner dispose of his rights and
obligations under this contract without the written consent of the seller unless full payment of his
obligation with the seller has been duly made or executed.

XI – VALIDITY

This contract shall be valid and binding upon the heirs, executors, administrators, and assigns of
both herein contracting parties. It is further agreed that the venue of any court action which may
arise from this contract may, at the option of the seller, be the proper courts in the National
Capital Region. Invalidation of any of this covenants or any part thereof by court order or
judgment shall in no way affect any of the provision which shall remain in full force and effect.

XII – AMENDMENT OR NOVATION OF CONTRACT

This agreement cancels and suspends all previous contracts or agreements entered into by herein
parties and any change, modification, alteration, or amendment of this contract, the same shall be
authorized only when signed by both parties.

XIII – VIOLATION OF CONDITIONS

Any violation by the buyer of any conditions herein shall have the same effect as the non-
payment of taxes and or the default of the payment of installments of the purchase price.

XIV – INDEMNITY AND ATTORNEY’S FEES

In the event of any breach of the terms and conditions of this contract by the buyer and the seller
is compelled to seek judicial relief therefore, the buyer bind himself to pay the seller by way of
attorney’s fees a sum equivalent to twenty five percent ( 25% ) of the total amount claimed but in
no case be less than five thousand pesos ( 5000 ) aside from the damages, cost of litigation and
other expenses which the seller is entitled under the law.

XV – RESCISSION

Breach of any of the conditions, terms, covenants, restriction, easements, servitudes and
reservations of this sale shall be sufficient cause for the rescission of this sale, any amount paid
on the account of this sale shall be reimbursed to the buyer minus ten percent ( 10% ) of the total
cost of land as liquidated damages. The expenses of such rescission and unpaid charges and dues
on the property; likewise the buyer shall remove at his expense and within a period of sixty days
( 60 ) from the date of such rescission all improvements made thereon, otherwise the same shall
be forfeited in the favor of the seller without any obligation to indemnify the buyer for the cost of
the value of the same.

XVI – ADDITIONAL FEES

The buyer agrees to pay the following additional fees:

1. Three hundred pesos ( 300 ) for any true copy of the lost contract.

2. Five hundred pesos ( 500 ) for amendment of the contract.

3. Five thousand pesos ( 5000 ) for any transfer of rights of the subject lot.

VII – NOTICES

All notices and correspondence of any nature sent to the buyer at the above address shall bind
himself regardless of the actual receipt, unless written notice of chance or amendment of address
has been received by the seller.

XVIII - LOSS OF CONTRACT

In case of loss of buyer’s copy of this contract, the buyer must immediately notify the seller in
writing. The seller shall not in any way be liable for damages arising out of the usage of such lost
contract.

XIX – TITLE

Title to said open lot shall remain in the name of the seller until complete payment by the buyer.
Thereafter the seller in accordance with this contract shall effect the transfer to the title in the
name of the buyer free from lien and encumbrances except those provided in the land registration
act.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,

this 5th day of February, 2014 at IRIGA CITY, Philippines.

HAROLD L. HERNANDEZ RICO ANDRO T. CORALDE

SELLER BUYER

SIGNED IN THE PRESENCE OF:

MIGUEL PEÑA JOSE MERCADO

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
IRIGA CITY ) SS

BEFORE ME, a Notary Public, this 5th day of February, 2014, personally
appeared the following:

HAROLD L. HERNANDEZ identified through the following competent evidence of identity:

Driver’s License with Driver’s License No. E07-11-000467 valid until December 16, 2015.
Issued by the LAND TRANSPORTATION OFFICE

RICO ANDRO T. CORALDE identified through the following competent evidence of identity:
Driver’s License with Driver’s License No. E07-10-000553 valid until March 23, 2016. Issued
by the LAND TRANSPORTATION OFFICE

This instrument, consisting of six 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.

ATTY. FELIX D. CAGALANG-GALANG O.D.

Notary Public
Commission Serial No. 25356
Until December 31, 2015
Roll of Attorney 675444
IBP No. 876/Jan 3, 2014/Iriga City
PTR No. 54389/Jan 6, 2014/Iriga City

Doc. No.
Page No.
Book No.
Series of 2014