DEED OF ABSOLUTE SALE

This Deed of Absolute Sale (the “Deed”) entered into this _____ day of
[Insert Date] at _________________________, Philippines by and between:

[INSERT NAME], of legal age, Filipino, and with residence

address at
_________________________________________________,
Philippines, hereinafter referred to as the “Seller”;

- and -

[INSERT NAME], of legal age, Filipino, and with residence

address at _________________________________________,
Philippines, hereinafter referred to as the “Buyer”.

The foregoing shall likewise be referred to collectively as the

“Parties.”

WITNESSETH:

WHEREAS, Seller is the registered and absolute owner of that motor

vehicle, more particularly described as follows:

Make :
Model :
Type :
Engine No. :
Chassis No. :
Plate No. :

duly registered with the Land Transportation Office – ________ District Office as
evidenced by the Certificate of Registration No. ________ issued on
____________ (the “Motor Vehicle”).

WHEREAS, Seller offers to sell the Motor Vehicle, and the Buyer accepts
the offer, and hereby purchases and acquires the Motor Vehicle, subject to the
terms and conditions set forth in this Deed.

NOW THEREFORE, for and in consideration of the foregoing and of the

premises hereinafter set forth, the Parties hereby agree as follows:

1. In a manner absolute and irrevocable, Seller hereby sells, transfers,

and conveys, and by this Deed, has sold, transferred, and conveyed unto Buyer,
the Motor Vehicle.

2. The purchase price shall be _________________ PESOS

(Php______________.00), receipt of which is hereby acknowledged by Seller,
and to her in hand and paid by Buyer (the “Purchase Price”).

3. Seller hereby represents and warrants to Buyer that:

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(a) Seller is the absolute owner of the Motor Vehicle, free and clear of
any liens or encumbrances, charges, or adverse claims, and there are no third
persons claiming ownership of, or interest in, the Motor Vehicle.
(b) There is no pending or threatened litigation, tax claim, or other
proceedings affecting the Motor Vehicle or Seller’s rights, title to or interest
therein.

4. Upon execution of this Deed, simultaneous with the payment of the

Purchase Price, Seller shall deliver and/or surrender to Buyer the following
documents:

(a) Original copy of the Certificate of Registration issued bythe

Land Transportation Office (LTO) covering the Motor Vehicle;

(b) Original copy of the latest Official Receipt covering the

recent registration with the LTO of the Motor Vehicle;

(c) All other documents and paper necessary to effect the

transfer of title from Seller to Buyer, and as may be required by the LTO;
and

(d) Legal and physical possession of the Motor Vehicle,

including its accessions and accessories.

5. All taxes, registration fees, and other costs on the sale of the Motor
Vehicle shall be for the account of Buyer.

6. This Deed supersedes and revokes any other contract executed, or

agreements or arrangements, between the parties concerning the Motor Vehicle.

7. Any action and/or proceeding arising from or in connection with this

Deed, in the event that an amicable settlement is not reached, shall be brought in
the competent court of the City of _____________ and the parties hereby
irrevocably submit to the exclusive jurisdiction of the ____________ court.

8. If any one or more of the provisions of this Deed is declared invalid

or unenforceable in any respect under applicable law, the validity, legality or
enforceability of the remaining provisions contained herein shall not in any way
be affected or impaired.

9. This Deed shall take effect immediately upon the signing thereof by
the Parties.

IN WITNESS WHEREOF, the parties have set their hand on the date and
at the place above written.

__________________ ____________________
Seller Buyer

Signed in the presence of:

_____________________ _____________________
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ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ______________________) S.S.

I certify that on ______________ 20___, before me, a notary public duly

authorized in the city name above to take acknowledgments, personally
appeared:

Name Competent Evidence of CTC

Identity

who were identified by me through competent evidence of identity to be the same

persons described in the foregoing Deed of Absolute Sale consisting of three (3)
pages, including this page on which the Acknowledgment is written, who
acknowledged before me that their respective signatures on the instrument were
voluntarily affixed by them for the purposes stated therein, and who declared to
me that they have executed the instrument as their free and voluntary act and
deed.

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

Doc. No. ;
Page No. ;
Book No. ;
Series of 20___.