CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Instrument, executed by and between:

- and -

WITNESSETH: that -

WHEREAS, the VENDOR is the lawful owner of a motor vehicle, more particularly described
as follows:

WHEREAS, the VENDOR desires to sell and the VENDEE agrees to buy the above-described
vehicle;

NOW, THEREFORE, for and in consideration of the foregoing premises and the stipulations
and covenants hereinafter provided, the VENDOR does hereby agree to SELL, TRANSFER and
CONVEY, absolutely and unconditionally free from all liens and encumbrances, the above-described
motor vehicle, unto the VENDEE, her heir, successors and assigns, the payment of which and the
obligations of the parties are contained hereunder:

1. The VENDEE shall pay the VENDOR the amount of ONE HUNDRED THOUSAND PESOS
(P100,000.00) as downpayment upon the signing of this agreement;

2. Thereafter, the VENDEE shall pay the VENDOR the amount of SEVEN HUNDRED FIFTY
PESOS (P750.00) daily instalments for a period of FIVE (5) YEARS, payment of which shall be
on a day to day basis, except for the first (1 st) and third (3rd) Sundays of the month wherein no
payment shall be made and collected;

3. The VENDOR shall deliver possession of the abovementioned vehicle, including its pertinent
registration documents, to the VENDEE upon the execution of this agreement. However, in the
duration of this agreement, the abovementioned motor vehicle when not in use shall be parked at
No. 1, 5th St., Happy Valley Subd., Labangon, Cebu City, Philippines;

4. It is understood by the parties that in the duration of this agreement, the VENDEE shall be
responsible for the maintenance and upkeep of the abovementioned motor vehicle;

5. The VENDOR shall execute and deliver to the VENDEE all documents necessary to effect the
transfer of ownership over the aforementioned vehicle in the name of the VENDEE, including but
not limited to a Deed of Absolute Sale, and such other pertinent documents necessary to register
the sale of the above-described vehicle to the VENDEE and effect the transfer of ownership to the
latter after the lapse of FIVE (5) years;

6. Should the VENDEE fail to pay three (3) consecutive daily instalments, she shall be immediately
considered in default and shall entitle the VENDOR to the return of the abovementioned motor
vehicle and any and all documents given. In addition, in case of default, the downpayment and all
other previous payments or instalments shall be forfeited in favor of the VENDOR. In both
instances, the guilty party shall be liable to the offended party for damages;

7. It is mutually agreed upon by both parties that all the expense(s) for the execution and registration
of the sale from the VENDOR to the VENDEE, including notarization of this contract and
payment of any and all other taxes and fees and charges necessary for the transfer of the
ownership to the VENDEE shall be for the sole account of the VENDEE;

8. The VENDOR hereby undertakes that she, her heirs and assigns shall warrant and defend the title
to the property subject of this agreement against all just claims of all persons or entities;

9. This Agreement shall be valid and binding not only on the parties represented herein but also on

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 their heirs, agents, representatives, successors and assigns.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
_____________ at _____________, Philippines.

Signed in the presence of: ______________________ ______________________

ACKNOWLEDGEMENT

BEFORE ME, this _____________ at _____________, Philippines, personally appeared the

following:

Known to me and to me known to be the same persons who executed the foregoing instrument and they
acknowledged to me that the same is their free and voluntary act and deed. This instrument consists of
two (2) pages including the page on which this Acknowledgment is written duly signed by the parties and
their witnesses on each and every page.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2017.

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