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SAMPLE FORM OF EXCLUSIVE OPTION TO PURCHASE

EXCLUSIVE OPTION TO PURCHASE

KNOW ALL MEN BY THESE PRESENTS:

That I, AAAAA, of legal age, married to BBBBB, and resident of

XXXXX hereinafter called the GRANTOR, for good and valuable
consideration the receipt whereof is hereby acknowledged from
CCCCC, likewise of legal age, married to DDDDD, Filipino
citizen, and resident of  XXXX, hereinafter called the
GRANTEE, does hereby grant unto said GRANTEE the
EXCLUSIVE OPTION to buy that certain real property covered
by Original/Transfer Certificate of Title No. XXXXX and more
particularly identified as follows:

(STATE LOCATION AND DESCRIPTION)

That the purchase price of the above-described property is

hereby agreed at _________________ PESOS (P________) Philippine
currency, payable within the period of this option, which shall
expire on ____________ 20___, at 12:00 noon (or midnight);

That the GRANTEE, upon deciding definitely to exercise the

right under this option, shall serve written notice to the
GRANTOR at least five days in advance of the date to be fixed
for the execution of the deed of Absolute Sale, with warranty of
title, and such other legal papers as may be necessary, and
simultaneously for the delivery of the agreed purchase price;

That it is further agreed that if the GRANTEE shall fail to

exercise the right under this option within the period above
stipulated, or default to pay the agreed purchase price on the
date set for the execution of the necessary instruments, then
this option shall be deemed automatically cancelled and
rendered of no further force and effect, and the consideration
paid thereof forfeited in favor of the GRANTOR: Provided,
however, that if the sale be consummated, the consideration of
this option received by the GRANTOR shall be applied as part of
the agreed purchase price; and

That all incidental expenses including attorney’s fees and

documentary stamps and capital gains tax shall be for the
account of the GRANTOR or seller, and the registration fees
and transfer tax for the transfer of title to the GRANTEE or
buyers shall be for the account of the latter.
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IN WITNESS WHEREOF, the parties hereunto affix their

signatures this _________________ at ____________________.

______________________________
GRANTOR

AGREED:
__________________
GRANTEE

Signed in the presence of:

_____________________ _____________________

ACKNOWLEDGMENT

Republic of the Philippines)

_____________________ ) SS.

BEFORE ME, a Notary Public for and in

___________________________ this ______________________ personally
appeared the following persons whose identities I have
confirmed through competent evidence of identity bearing
their pictures and signatures as described below:

NAME TYPE OF NUMBER DATE AND PLACE OF

ID. ISSUANCE/EXPIRY
DATE.

AAAAA

CCCCC

all known to me to be the same persons who executed the

foregoing instrument consisting of ____ pages including this
page where the Acknowledgment is written and they
acknowledged to me that the same is their free and voluntary
act and deed as well as that of the entities that they
respectively represent.

WITNESS MY HAND AND SEAL at the place and on the date

first-above written.

Doc. No. _______;

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