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This Deed of Sale with Pacto de Retro made and executed by and between:
Juan dela Cruz, Filipino, single and resident of 9 Recto Ave., Manila, known herein as
the VENDOR,
-and-
Maria Reyes, Filipino, single and resident of 20 Recto Ave., Manila, known herein as the
VENDEE,
WITNESSETH:
1. The VENDOR is the absolute owner of a certain parcel of land with all the buildings and
improvements thereon, situated in the City of Manila, and more particularly described, as
follows:
A parcel of land (Lot 3, Block 1 of the subdivision plan (LRC) Psd-1111, being a portion
of Lot 1-B, described on plan Psd-12222, LCR (GLRO) Rec. No. (NA), situated in the
Barrio of Bomber, District of Sampaloc, City of Manila. Bounded on the N., points 1 to 2
by Lot 1, Block 1; on the E., points 2 to 3 by Road Lot on the S., points 3 to 4 by Lot 5;
and on the W., points 4 to 5 by Lot 6; points 5 to 6 by Lot 4, and points 6 to 1 by Lot 2, all
of Block 1, all of the subdivision plan. Beginning at a point marked “1” on the plan, being
N. 14 deg. 20’ E., 53.29 m. from Mon. #1, Dist. of Sampaloc, City of Manila,
2. The VENDOR, for and in consideration of the amount of ONE MILLION PESOS (1,
000,000.00), to him paid by VENDEE and receipt of which is acknowledged, does
hereby SELL, TRANSFER and CONVEY under pacto de retro unto the said VENDEE,
his heirs and assigns, the property with all the buildings and improvements thereon, free
from all liens and encumbrances whatsoever;
3. The VENDOR, in executing this conveyance, hereby reserves the right to
REPURCHASE, and the VENDEE, in accepting the same, hereby obligates himself to
RESELL the property herein conveyed within a period of ten (10) years from date of this
deed for the same price of ONE MILLION PESOS (1, 000,000.00); Provided, however,
that if the VENDOR shall fail to exercise his right to repurchase as herein granted within
the period provided, then this conveyance shall become absolute and irrevocable,
without need of a new Deed of Absolute Sale, subject to the requirements of law
regarding consolidation of ownership of real property.
IN WITNESS WHEREOF, I have signed this deed this 3 rd day of March, 2015 at the City
of Manila, Philippines.
JOINT ACKNOWLEDGMENT