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CONTRACT TO SELL

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and execute this 25 th day of January

2021 by and between:

PROVINCIAL GOVERNMENT OF LA UNION hereinafter

referred to as the “SELLER/VENDOR”;

-AND-

ALBERT F. PADILLA, Filipino and with residence and postal

address at Tallaoen, Luna, La Union hereinafter referred to as the

“BUYER/VENDEE”.

WITNESSETH;

Whereas, the SELLER/VENDOR is the absolute and registered

owner of a parcel of land consisting of SEVENTY THOUSAND square

meters, more or less, located at Sevilla, San Fernando City and covered by

Transfer Certificate of Title No. 025-2017002093 issued by the Registry of

Deeds of San Fernando, La Union;

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CONTRACT TO SELL

Whereas, the BUYER/VENDEE has offered to buy and the

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

SEVENTY MILLION PESOS ONLY (Php 70, 000,000.00) 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 of the following terms and conditions:

1. The total consideration shall be SEVENTY MILLION (Php

70,000,00.00) PESOS, Philippine Currency has already been paid

by the BUYER/VENDEE;

2. Capital Gains Tax and Real Tax, shall be for the account of the

SELLER/VENDOR;

3. Documentary Stamps Tax, Registration Fee, registration expenses,

and all other miscellaneous fees and expenses shall be to the

account of the BUYER/VENDEE;

4. Possession to the subject property shall be delivered by the

SELLER/VENDOR to the BUYER/VENDEE upon full payment

of the total consideration;

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CONTRACT TO SELL

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

sign and execute a DEED OF TRANSER OF TITLE 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.

IN WITNESS WHEREOF, the parties have hereunto affixed their

signatures, this 25th day of January 2021 at San Fernando City, La Union,

Philippines.

PROVINCIAL GOVERNMENT OF LA UNION ALBERT F. PADILLA

SELLER/VENDOR BUYER/VENDEE

SIGNED IN THE PRESENCE OF:

JUAN DELA CRUZ JUANITA PAPASA

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CONTRACT TO SELL

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF LA UNION )
CITY OF SAN FERNANDO ) S.S.

BEFORE ME, a Notary Public, this 25th day of January 2021, personally

appeared the following ALBERT F. PADILLA and the PROVINCIAL

GOVERNMENT OF LA UNION

This instrument, consisting of 4 pages, including the page on which this

acknowledgement is written, has been signed on the left margin of each and every

page thereof by the concerned parties and their witnesses, and sealed with my

notarial seal.

IN WITNESS WEHREOF, I have set my hand on the date and place above

written.

(SGD) ATTY RIO LORRAINE A. REFUERZO

G. Rivera Street, Lingsat, San Fernando City, La Union
Roll of Attorneys No. 812404; April 25, 2022
IBP No. 240428; April 25, 2022; San Fernando City, La Union
PTR No. 280412; May 20, 2022; San Fernando City La Union
MCLE Compliant No. 5698

Doc No. 102

Page No. 21
Book No. 7
Series of 2021