Republic of the Philippines )

Province of Leyte )) S.S

City of Ormoc )

CONTRACT TO SELL
 
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of SEPTEMBER 2019 by
and between:
 
        FRANCIS LEO C. ZALDIVAR, of legal age, Filipino, and
with residence and postal address at G.B.Zaldivar Street,
Poblacion, Albuera, Leyte, hereinafter referred to as
the "SELLER/VENDOR";
 
-AND-
 
SPS. DARIO SEGUNDO JUSAY and GINA REGAÑON
JUSAY, both of legal age, Filipinos and with residence and
postal address at Albuera, Leyte, hereinafter referred to as
the "BUYER/VENDEE".
 
WITNESSETH;
 
        WHEREAS, the SELLER/VENDOR is the owner of a parcel of land located at
BRGY. TALISAYAN, ALBUERA, LEYTE and covered by Transfer Certificate of Title
No. _____________ and more particularly described as follows:

A parcel of land, a portion of Lot No. 1-B-2,

containing an area of SIX HUNDRED (600) SQUARE
METERS, more or less, situated at Barangay
Talisayan, Albuera, Leyte.

WHEREAS, the SELLER/VENDOR is one of the heirs of the late Geronimo B.

Zaldivar and a co-owner of a parcel of landcovered and embraced by Transfer
Certificate of Title (TCT) No. T-35739 consisting of ONE HUNDRED EIGHTY-NINE
THOUSAND THREE HUNDRED SEVETY (189,370) square meters, more or less,
described as follows, to wit:

“A parcel of land (Lot 1-B of the subdivision plan (LRC) Psd-

170563, being a portion of Lot 1, Psu-136426, L.R.C. Cad. Record
No. N-8581), situated in the Barrio of Talisayan, Island of Leyte,
Municipality of Albuera, Province of Leyte, Island of Leyte. Bounded
on the NE, points 1 to 2 by property of Guillermo Ariño; points 2 to
3 by Talisayan School Site; on the SE & E, points 3 to 6 by property
of AdelaidaVda de Fian; on the SW & SE, points 6 to 8 by property
 of Donato Competente; on the SW &SE points 8 to 14 by property
of Teofilo Flores x xxx containing an area of ONE HUNDRED EIGHTY-
NINE THOUSAND THREE HUNDRED SEVETY (189,370) square
meters, more or less, covered by Transfer Certificate of Title (TCT)
No. T-35739 in the name of Geronimo B. Zaldivar.”

WHEREAS, the BUYER/VENDEE has offered to buy, andthe SELLER

/VENDOR has 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 SEVEN
HUNDRED TWENTY THOUSAND PESOS (₱ 720,000.00) 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 property subject to the following
terms and conditions: 

TERMS OF PAYMENT

1. The total consideration shall be SEVEN HUNDRED TWENTY

THOUSAND PESOS (₱ 720,000.00) Philippine Currency,payable as
follows:

a) The amount of TWO HUNDRED THOUSAND (₱ 200,000.00)

PESOS, representing earnest money shall be payable
bythe BUYER/VENDEE tothe SELLER/VENDOR uponsigning
of this Contract to Sell;

b) The remaining balance in the amount of FIVE HUNDRED

TWENTY THOUSAND (₱520,000.00) PESOS,shall be paid
starting on the 30th day of October 2019, within a period of
twenty-six (26) months, or until the 30th day of December
2021, payable in twenty-six (26) equalmonthly installments
amounting to at least Twenty Thousand Pesos(₱ 20,000.00)
Philippine Currency per month. Said installments shall be
paidon or before the thirtieth (30th) day of such months;

c) Payment may be payable in cash or check. In case of the

latter, the same shall be payable to SELLER/VENDOR;

d) In case the check representing the payment for the balance

provided in paragraph b hereof, is dishonored by the drawee
bank, or in the event of failure on the part of the
BUYER/VENDEE  to make good on the payment of said
balance when it falls due, this Contract to Sell shall be
terminated. Thereafter, the earnest money in the amount of
TWO HUNDRED THOUSAND (₱200,000.00) PESOS and all
subsequent payments made, shall be forfeited in favor of
the SELLER/VENDOR;
 e) Upon the termination of this Contract to Sell, the
SELLER/VENDOR shall be free to sell and dispose the
property to any willing third party.

2. Upon completion of payment of the balance purchase price above

stipulated and other obligations set forth hereto, the
SELLER/VENDOR  shall execute and deliver to the
BUYER/VENDEE a final DEED OF ABSOLUTE SALE, CONVEYING,
SELLING, CEDING AND/OR TRANSFERRING the above-described
property, free and clear of all liens and encumbrances except those
found therein at the time of the execution of this document,
thereafter the SELLER/VENDOR shall cause the issuance of Transfer
Certificate of Title under the name of the BUYER/VENDEE  covering
the subject parcel of land, it being understood, however, that
expenses for capital gains tax and documentary stamp tax, transfer
tax, other Registration Fees, and all other miscellaneous fees and
expenses shall be borne exclusively by the BUYER/VENDEE;

3. That the BUYER/VENDEEshall be liable for the expenses relative to

the execution of the deed of absolute sale and the payment of taxes,
fees, and other expenses that may be incurred in transferring the
Land in the BUYER’s name, including but not limited to, capital gains
tax, documentary stamp tax, transfer tax, registration fees, and
broker’s commission;

POSSESSION OF THE PROPERTY

4. Possession of the subject property shall be immediately delivered by

the SELLER/VENDOR to the BUYER/VENDEE upon execution of
this CONTRACT TO SELL;

5. It is mutually agreed that the SELLER/VENDOR is bound not to sell

the above-mentioned property during the effectivity of this
CONTRACT, and the same shall be exclusively possessed by the
BUYER pending the execution of the DEED OF ABSOLUTE SALE;
unless otherwise rescinded or annul by mutual consent of the parties;

6. Upon full payment of the total price, the SELLER/VENDOR shall sign

and execute a DEED OF ABSOLUTE SALE in favor of
the BUYER/VENDEE. The SELLER/VENDOR shall likewise execute
and/or deliver any and all documents, including but not limited to the
original copy of Transfer Certificate of Title, Tax Declaration and all
other documents necessary for the transfer of ownership
from SELLER/VENDOR to the BUYER/VENDEE.
 
 7. That the SELLER/VENDOR reserves the right to extrajudicially rescind
her contract with the BUYER/VENDEEin case of the latter’s failure to
fully pay the purchase price.

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

___ day of ____________, 20__ at _________________________, Philippines.

 
FRANCIS LEO C.ZALDIVAR DARIO SEGUNDO JUSAY
[Seller] [Buyer]

GINA REGAÑON JUSAY

[Buyer]

 
SIGNED IN THE PRESENCE OF:

 
__________________________               ____________________________
 
  
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.

BEFORE ME, a Notary Public, this ____________day of ________________,

personally appeared the following:
 
NAME IDENTIFICATION DATE/PLACE ISSUED
CARD

This instrument, consisting of ___ page/s, including the page on which this
acknowledgment is written, has been signedon 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
                               
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.