CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ___ day of

________________, 2020, executed by and between:

___________________________, of legal age, widow, Filipino and a

resident of Ormoc City, Leyte, Philippines, hereinafter referred to as the
SELLER;

-and-

_____________________________, both of legal age, Filipino citizens,

lawfully wedded spouses and residents of Ormoc City, Leyte, Philippines,
hereinafter called the BUYERS;

WITNESSETH:

That the SELLER is the registered owner and possessor of certain parcels
of land, which are more particularly described as follows:

“A parcel of land designated as _________ of the subdivision plan,

Psd-__________-D, being a portion of Lot ____________, (LRC)
_____________, situated in the Brgy. _____________, Ormoc City,
Island of Leyte. Bounded on the xxx xxx xxx; containing an area of
____________ (___________) SQUARE METERS, more or less and
covered by TCT No. ____________________ issued by the office of the
Register of Deeds for the City of Ormoc.”

That the SELLER hereby agrees to SELL unto said BUYERS the above-
described parcels of land and the BUYERS hereby agrees to BUY the same
subject properties to the following terms and conditions, to wit:

1. That the consideration or selling price of the above-mentioned parcels of

land is ___________________________
(Php______________________.00) PESOS, Philippine currency;

2. That upon signing of this Contract to Sell, the BUYERS do hereby pay
unto the SELLER the sum of ___________________________
(Php______________________.00) PESOS, Philippine Currency,
representing the initial/down payment and that the SELLER hereby
acknowledged receipt of aforesaid amount from the BUYERS;

3. That the balance in the amount of _________________________________

(Php_________________________.00) PESOS, Philippine Currency,
shall be payable within a period of ten (10) month starting January, 2020.
Provided, however, that non-payment in full of the balance on said period
does not invalidate the contract, the buyer being entitled to grace period;

4. In the event the BUYERS fail to fully pay the above-mentioned balance
amount within the given period the SELLER may cancel this contract
without need of court declaration by giving the BUYERS a written notice
of cancellation with fifty (50%) percent of the total amount paid to be
retained by the SELLER as penalty and cost of damage;
 5. That it is understood that the proper Contract of Deed of Absolute Sale
shall only be executed upon full payment by the BUYERS. Title to said
parcels of land shall remain in the name of the SELLER until complete
payment by the BUYERS of all obligations herein stipulated. Title shall be
free from Liens and encumbrances except those imposed by the authorities
and regulatory bodies;

6. It is also understood that Attorney’s Fees, Capital Gain Tax, Documentary

Stamp Tax, Transfer fee and other charges or fees incident in the transfer
thereof shall be for the BUYERS’ account;

7. The BUYER represents that they have inspected the premises and has
manifestly agreed in all existing conditions and circumstances pertinent to
the said properties;

8. Any restrictions herein contained and those which might be construed as

restriction shall subsist as a limitation on the ownership of the property to
be conveyed;

IN WITNESS WHEREOF, we have hereunto set our hands this _ day of

_____, 2020 in Ormoc City, Philippines.

________________
Seller
TIN:_____________

____________________________ _______________
Buyer Buyer
CEI: CEI:

SIGNED IN THE PRESENCE OF:

________________________ _______________________
REPUBLIC OF THE PHILIPPINES)
ORMOC CITY.....................................)S.S
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the City of Ormoc this _ day of
____, 2020 personally appeared the abovementioned persons with their
identification cards bearing their signatures and pictures mentioned above and
both known to me to be the same persons who executed the foregoing instrument
and acknowledged to me that the same is their free voluntary act and deed.
WITNESS MY HAND AND SEAL on the date and place first above-
written.
Doc. No.
Page No.
Book No.
Series of 2020.