Exclusive Option to Purchase Parcel of Land

KNOW ALL MEN BY THESE PRESENTS:

That MARIA GONZALES, of legal age, single and resident of Brgy. 116,
Barrio Magsaysay, Tondo, Manila hereinafter called the GRANTOR, for
good and valuable consideration the receipt whereof is hereby
acknowledged from MARVIN FERRER, likewise of legal age, married to
NATALIE FERRER, Filipino citizen, and resident of Brgy.11, Zone 10,
Tondo, Manila, hereinafter called the GRANTEE, does hereby grant unto
said GRANTEE the EXCLUSIVE OPTION to buy a house and lot located at
San Dionisio, Municipality of Paranaque covered by /Transfer Certificate
of Title No. 157-2016001259 with an area of Eighty (80) square meters
and more particularly identified as follows:

Transfer Certificate of Title No. 157-2016001259

“A parcel of land Lot No. 3232-B-17-M, PSD-13-017629 being a portion of

Lot No. Lot No. 3232-B-17-M, PSD-10-004835, containing an area of 80
square meters bound on northeast and southeast of lot No. 3232-B-17-0,
southwest of Lot No. 3232-B-17 and north west of Lot 3232-B-17-M-3
declared in the name of MARIA GONZALES”

Tax Declaration of Improved Real Property

“A two-storey building with the total area of 140 square meters with tax
declaration no. 08-03-0001-01721 and Property Identification No. 162-
03-0001-002-60-1001”.

That the purchase price of the above-described property is hereby agreed

at EIGHT HUNDERED THOUSAND PESOS (P800,000.00), payable
within the period of this option, which shall expire on 20 December
2021, at 12:00 noon.

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.

IN WITNESS WHEREOF, the GRANTOR has hereunto set/her hand at

Tondo, Manila, Philippines, on this September 20, 2021.

_______________________
MARIA GONZALES
GRANTOR

AGREED:

__________________

MARVIN FERRER
GRANTEE

SIGNED IN THE PRESENCE OF:

_______________________ ________________________

ACKNOWLEDGMENT

Republic of the Philippines ]

Province of _____________ )SS.
City/ Municipality of Tondo

BEFORE ME, a Notary Public in and for the City/Municipality of

____________________, Philippines, this _____ day of
_________________, 20____ personally appeared:

Name   Res. Cert. Date/Place Issued

MARIA GONZALES 0012596658 Manila

MARVIN FERRER 0023586485 Manila
all 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.

IN TESTIMONY WHEREOF, I hereunto set my hand and affix my notarial

seal on the date and at the place first above written.

Notary Public

Doc No. _______

Page No._______
Book No. ______
Series of 2021