CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this

__________________________, by and between:

________________________, Filipinos, of legal ages and

with postal address at Aznar Road, Sambag I, Cebu City,
Philippines, hereinafter referred to as the VENDORS;

And

____________________________, Filipinos, of legal ages

and residents of South Hills Subdivision, Tisa, Cebu City,
Philippines, hereinafter referred to as the VENDEES;

WITNESSETH that-

WHEREAS, the VENDORS are the registered owners of a parcel

of land, hereinafter referred to as the “PROPERTY”, more particularly
described as follows:

Original Certificate of Title No. _____________

“A parcel of land (Lot No. ______, Daan Bantayan,

Cad. 635-D, identical to Lot 5, Psu-07-01-001908),
situated in the Barrio of Maya, Municipality of Daan
Bantayan, Province of Cebu, Island of Cebu) containing an
area of FORTY SEVEN THOUSAND NINE HUNDRED
TWELVE (47,912) square meters, more or less.”

WHEREAS, the VENDEES are willing to buy the above-

mentioned PROPERTY from the VENDORS;

WHEREAS, the VENDEES have offered to buy and the

VENDORS have agreed to sell the PROPERTY under the terms and
conditions herein below set forth;

NOW THEREFORE, for and in consideration of the total sum of

THREE MILLION SIX HUNDRED THOUSAND PESOS
(P3,600,000.00), Philippine Currency, and of the covenants herein
after set forth, the VENDORS agree to sell and the VENDEES agree
to buy the PROPERTY, subject to the following terms and conditions:

1. The VENDEES shall make a down payment to the

VENDORS in the amount of ONE HUNDRED TWENTY THOUSAND

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PESOS (P120,000.00), Philippine Currency upon the execution of
this agreement.

2. Upon receipt of the down payment mentioned above and

the execution of this Contract to Sell, the VENDORS shall deliver to
the VENDEES the owner’s copy of Original Certificate of Title No. OP-
52944.

3. Thereafter, the VENDORS agree to conduct a relocation

survey on the property to determine the actual metes and bounds
thereof and to make sure whether or not there are occupants on the
property. If after the relocation survey, it is determined that there
are occupants, settlers and tenants occupying within the PROPERTY,
the VENDORS undertake to remove them including any and all
structures and improvements built thereon at no cost to the
VENDEES.

4. The VENDORS shall likewise secure a certification or

clearance from the Department of Agrarian Reform (DAR) that the
five-hundred (500) square meter-portion of the property which is
subject to a “Homelot” per DAR lot conversion approval duly
annotated on the certificate of title can be validly disposed of by sale
to the VENDEES.

5. Upon completion of the relocation survey, the

determination of the metes and bounds of the PROPERTY, that the
PROPERTY is free from any occupants, settlers and tenants and a
certification from the DAR that the 500-square-meter portion of the
PROPERTY can be validly disposed of by sale, the VENDEES shall
pay the outstanding balance of the sale to the VENDORS.

6. Upon receipt of the full payment of the selling price of the

PROPERTY, the VENDORS shall execute a Deed of Absolute Sale in
favor of the VENDEES and turnover any and all documents and
papers in connection with the sale which may be in their possession
and shall execute any and all documents necessary to transfer the
ownership of the PROPERTY in favor of the VENDEES. Actual
physical possession of the PROPERTY shall likewise be surrendered
to the VENDEES.

7. Prior to the full payment of the purchase price and during

the effectivity of this Contract to Sell, the VENDORS shall not sell,
mortgage, donate, hypothecate, offer to sell the property to another
party or otherwise encumber the same and shall hold the property in
trust for the VENDEES.

8. Capital gains tax and documentary stamp tax due on the

sale of the PROPERTY as well as the realty tax due on the PROPERTY

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prior to the execution of the Deed of Absolute Sale shall be for the
account of the VENDORS while transfer tax due on the sale of the
PROPERTY, notarial and legal fees and registration fees shall be for
the account of the VENDEES.

9. In the event the VENDORS cannot comply with their

obligations mentioned in the preceding paragraphs 3, 4 and 5 hereof,
this Contract to Sell shall be rescinded and cancelled and the
VENDORS are liable to refund the amount paid by the VENDEES
including any and all incidental expenses advanced by the VENDEES
such as, but not limited to, expenses for relocation survey and
notarial fees. VENDORS’ obligations contained in paragraphs 3 to 5
hereof shall be complied with within three months from the date of
this Contract to Sell. Should compliance with the foregoing
obligations cannot be made within three months, the parties may
agree to extend the compliance period.

IN WITNESS WHEREOF, the parties have hereunto affixed

their signatures, this _________________________ at Cebu City,
Philippines.

__________________________ _______________________
Vendor Vendor

__________________________ ________________________
Vendee Vendee

SIGNED IN THE PRESENCE OF:

________________________________

________________________________

NOTARIAL ACKNOWLEDGMENT

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Republic of the Philippines)
City of Cebu )S.S.

BEFORE ME, this ______________________ at Cebu City,

Philippines, personally appeared the following:

Name Valid ID

known to me 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.

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

which this acknowledgment is written, has been signed by the
parties and instrumental witnesses on each and every page hereof
and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand, the day,

year and place above-written.

DOC. NO.
PAGE NO.
BOOK NO.
SERIES OF 2021.