CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT, made and entered into at _______City,

Metro Manila, by and between –

OTHELLO B. TONGIO, JR. and EMILIANO O.

GALANG-TONGIO both of legal age, Filipino and residents
of ______________, hereinafter referred to as the
VENDORS,

- and -

LINDEE C. YU, of legal age, Filipino and resident of

_______________________hereinafter referred to as the
VENDEE.

WITNESSETH: That –

WHEREAS, the VENDORS are the true and absolute owners of that
parcel of land and all the improvements thereon located in San
Agustin, San Fernando, Pampanga covered by Transfer Certificate
of Title No. 042-2013001190 of the Registry of Deeds for San
Fernando, Pampanga and more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE

NO. 042-2013001190

A PARCEL OF LAND (LOT NO. 11 BLOCK- 3 OF THE

CONSOLIDATION SUBDIVISION PLAN PCS-03-016928
BEING A PORTION OF CONSOLIDATED LOT NO. 6-B-1-B1,
PSD-03-158984, 6-B-1-A-2-B, PSD-03-020258, 6-B-1-A-2-C-2,
PSD-03-160119, & 6-B-2, (LRC) PSD-206742 LRC REC. NO. )
SITUATED IN THE BARRIO OF SAN AGUSTIN,
MUNICIPALITY OF SAN FERNANDO, PROVINCE OF
PAMPANGA. BOUNDED ON THE NE., ALONG LINES 1-2 BY
LOT 17; ALONG LINES 2-3-4 BY LOT 18; ON THE SE.,
ALONG LINES 4-5 BY LOT 10 BOTH OF BLK-3; ON THE
SW., ALONG LINES 5 TO 9 BY ROAD LOT 4 AND ON THE
NW., ALONG LINE 9-1 BY LOT 12 BLK-3 ALL OF THE
CONSOLIDATION SUBDIVISION PLAN. BEGINNING AT A
POINT MARKED “1” ON PLAN BEING S. 08 DEG. 33’E.,
799.31 M. FROM B.B.M. NO. 32, SAN FERNANDO CAD.
THENCE S. 80 DEG. 15’E., 3.39 M. TO POINT 2; THENCE S.
82 DEG. 31’E., 4.15 M. TO POINT 3; THENCE S. 85 DEG.
 01’E., 4.15 M. TO POINT 4; THENCE S. 03 DEG. 42’W., 12.00
M. TO POINT 5; THENCE N. 85 DEG. 23’W., 3.29 M. TO
POINT 6; THENCE N. 83 DEG. 38’W., 3.29 M. TO POINT 7;
THENCE N. 81 DEG. 53’W., 3.29 M. TO POINT 8; THENCE N.
80 DEG. 07’W., 3.29 M. TO POINT 9; THENCE N. 10 DEG.
38’E., 12.00 M. TO THE POINT OF BEGINNING ;
CONTAINING AN AREA OF ONE HUNDRED FORTY NINE
( 149 ) SQ. M. ALL POINTS REFERRED TO ARE INDICATED
ON THE PLAN AND ARE MARKED ON THE GROUND BY P.
S. CYL. CONC. MONS. 15X40 CMS. BEARINGS TRUE DATE
OF ORIGINAL SURVEY MARCH 1915-JUNE 1916 AND THAT
OF THE CONSOLIDATION SUBDIVISION SURVEY NOV. 21-
26, 2007 AND WAS APPROVED ON 12 MAY 2009.

(hereinafter referred to as the “Subject Property”)

WHEREAS, the VENDEE has offered to purchase the said

property together with all the improvements found thereon, and the
VENDORS accept the offer tendered by the VENDEE and thus,
VENDORS confirm their willingness and ability to sell, cede, convey
and transfer to the VENDEE all rights and ownership the have
acquired over the aforedescribed Subject Property free from any lien
and encumbrances, subject to the terms and conditions herein below
set forth.

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

PESOS: SEVEN MILLION (P7,000,00.00), Philippine Currency, and
of the covenants herein after set forth, the VENDOR  agrees to sell
and the VENDEE agrees to buy the aforesaid Subject Property subject
to the following terms and conditions
 
1.     The total consideration shall be PESOS: SEVEN MILLION
(P7,000,00.00), Philippine Currency, payable as follows:

a) The amount of PESOS: TWO MILLION PESOS

(P2,000,000.00), Philippine Currency representing partial
payment shall be payable by the VENDEE to the
VENDORS upon signing of this Contract to Sell;
 
b) The remaining balance in the amount of PESOS: FIVE
MILLION PESOS (P5,000,000.00), Philippine Currency
shall be paid upon the delivery by the VENDORS of the
Transfer Certificate of Title free from any lien or
encumbrance to the VENDEE.
 

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2. That upon payment by the VENDEE of the remaining balance
of PESOS: FIVE MILLION PESOS (P5,000,000.00) in favor of the
VENDORS, the VENDORS shall forthwith execute and deliver to the
VENDEE a final Deed of Absolute Sale conveying the above
described Subject Property, free and clear of all liens and
encumbrances, it being understood that the expenses for the transfer
of the title to the VENDEE, including transfer tax, documentary stamp
tax, and registration fees, shall be to the exclusive account of the
VENDEE. The VENDORS shall be liable for the payment of the
capital gains tax as well as all real estate taxes and special assessments
in the form of association dues, if any, imposed upon the Subject
Property until date of delivery of the Subject Property to the
VENDEE which to date the VENDORS confirm that the real estate
taxes for the first quarter to the third quarter of 2020 are paid;
thereafter, the real estate taxes and special assessments shall be for the
account of the VENDEE.

3. Should the VENDEE, without any cause on the part of the

VENDORS, unilaterally rescind the sale, the VENDORS shall
terminate the contract in which case the partial payment of PESOS:
ONE MILLION FIVE HUNDRED THOUSAND (P1,500,000.00)
Philippine Currency, shall be returned to the VENDEE and the
remaining PESOS: FIVE HUNDRED THOUSAND (P500,000.00)
shall be forfeited in favor of the VENDORS as liquidated damages.
However, should the VENDORS fail to comply with their obligation
without any cause on the part of the VENDEE, then the VENDEE
shall have the right to terminate this Contract in which case, the full
PESOS: TWO MILLION PESOS (P2,000,000.00), Philippine
Currency, shall be returned to the VENDEE.

IN WITNESS WHEREOF, the parties hereto have hereunto set

their hands this ___ day of___________2020 at
___________________City, Metro Manila.

VENDORS VENDEE

OTHELLO B. TONGIO, JR. LINDEE C. YU

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EMILIANA O. GALANG

Signed in the presence of:

_______________________ _______________________

NOTARIAL ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_________________City )

BEFORE ME, a Notary Public for and in the above-locality, on this

____ day of March 2009 personally appeared:
Name ID No. Place Issued

OTHELLO B. TONGIO, JR.

EMILIANA O. GALANG-TONGIO
LINDEE C. YU

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

the foregoing Contract to Sell over a parcel of land covered by
Transfer Certificate of Title No. 042-2013001190of the Registry of
Deeds for San Fernando, Pampanga consisting of four (4) pages,
including this page where the acknowledgment is written, signed by
the parties and their instrumental witnesses on each page thereof, and
who acknowledged to me that the same is their free and voluntary acts
and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and

affixed my notarial seal on the date and at the place first above-
written.

Doc. No. _____;

Page No. _____;
Book No. _____;
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Series of 2020.