CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of _________, 2021 by and
between:     
HOLY LIGHT PRESBYTERIAN CHURCH INC., Religious Corporation duly
organized under and by virtue of the laws of the Philippines, with registration No. CN201419958
with postal address at Block 11 Lot 6 Main Road, Windward Hills Subd. Brgy. Burol 1,
Dasmarinas City, Cavite and represented in the act by its President/Director YONGMO KIM
and JO INA, Treasurer, by virtue of a Board Resolution dated October 19, 2021, herein after
referred to as the "SELLER/VENDOR";

-AND-
 
        SPS. __________________________________________________, both Filipino citizen,
of legal ages and with residence address at
_________________________________________________________, Cavite, hereinafter
referred to as the "BUYER/VENDEE". 

WITNESSETH;
 
        WHEREAS, the SELLER/VENDOR is the absolute and registered owner of a parcel of
land and house consisting of ONE HUNDRED SEVENTEEN (117) square meters, more or less,
located at Block 16 Lot 26 Phase 2 Town & Country Subdivision, Brgy. Salitran 4, Dasmarinas
City, Cavite and covered by Transfer Certificate of Title No. T-057-2017010201 issued by the
Registry of Deeds of Trece Martires City, Cavite;
 
        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 THREE MILLION
SIX HUNDRED THOUSAND PESOS (Php 3,600,000.00) 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 to the following terms and
conditions:
 
The total consideration shall be THREE MILLION SIX HUNDRED THOUSAND PESOS
(Php 3,600,000.00), Philippine Currency, payable as follows:
The amount of TWO MILLION (Php 2,000,000.00) PESOS in Cash, representing earnest
money shall be payable by the BUYER/VENDEE to the SELLER/VENDOR upon signing of
this Contract to Sell and shall be considered as part of the Total Contract Price;

The remaining balance in the amount of ONE MILLION SIX JNU HB HUNDRED

THOUSAND (Php 1,600,000.00) PESOS, shall be paid in Cash by BUYER/VENDEE on until
2nd week of February 2022.

Upon payment of the balance, the SELLER/VENDOR shall sign and execute a DEED OF

ABSOLUTE SALE  in favor of the BUYER/VENDEE. The SELLER/VENDOR shall likewise
execute and/or deliver the original Owner’s Copy of Transfer Certificate of Title No. T-057-
2017010201 and all other documents necessary for the transfer of ownership of title
from SELLER/VENDOR to the BUYER/VENDEE;

All pending monthly dues, utility bills, cable, etc., if any, Real Property Tax up to the time of
sale, Capital Gains Tax shall be for the account of the SELLER/VENDOR. Documentary Stamp
Tax, Registration and other fees shall be paid by the BUYER/VENDEE;

Possession to the subject property shall be delivered by the SELLER/VENDOR to

the BUYER/VENDEE, TEN (10) days upon after the full payment has been settled, in good,
clean and tenable condition;

The SELLER/VENDOR must consider it a close transaction with regards to the prospective
buyers, upon receive of the earnest money from the BUYER/VENDEE;

The SELLER/VENDOR warrants its good and legal title of said property, full authority to sell
and that said property shall be sold by warranty bill of sale free and clear of all liens,
encumbrances, liabilities and adverse claims of every nature and description whatsoever;

The said property is sold in “AS-IS-WHERE-IS” condition, the SELLER/VENDOR disclaiming

any warranty of merchantability, fitness or working order or condition of the property except that
it shall be sold in its present condition, reasonable wear and tear expected;

The SELLER/VENDOR agrees to include on the selling of the subject property, all furniture and
fixtures such as Flat Screen TV with cabinet, Sofa Set, Two (2) Refrigerator, Book Shelf, Living
Room Cabinet, Dining Table with 6 Chairs, Air conditioned for 3 bedrooms and living room,
Three (3) Desks, Dressing Table, Three (3) Cabinet Closet, Two (2) Single Bed / One (1) King
Size Bed, Water Tank and Motor and Other Cabinets;

In case the SELLER/VENDOR could not fulfil any of the obligations stated in this Contract to
Sell, the BUYER/VENDEE shall be entitled to a FULL refund immediately in cash in one-time
payment without need of any demand letter or court proceedings. In the event that the
BUYER/VENDEE could not fulfil any of the obligations stated in the Contract to Sell, the
SELLER/VENDOR has the right to cancel the Contract to Sell and forfeit the five (5%) percent
payment of the earnest money and may only refund the ninety five (95%) percent of the earnest
money paid to the BUYER/VENDEE immediately in one-time payment;

This agreement shall be binding upon and inure to the benefit of the parties, their successors,
assigns and personal representatives.
 

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at _________________________, Philippines.
 
 
HOLY LIGHT PRESBYTERIAN
CHURCH INC.
SELLER/VENDOR BUYER/VENDEE

Represented by: &

YONGMO KIM 
President/Director BUYER/VENDEE

and

JO INA
Treasurer

SIGNED IN THE PRESENCE OF:

Glena Sarcilla

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

____________________________) S.S.

BEFORE ME, a Notary Public, this ____________day of ________________,

personally appeared the following:
 
Holy Light Presbyterian Church Inc. Tax Identification Number _____________
YongMo Kim Tax Identification Number _____________
Jo Ina Tax Identification Number _____________
Tax Identification Number
Tax Identification Number

This instrument, consisting of three (3) page/s, including the page on which this
acknowledgment 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  WHEREOF, I have hereunto set my hand the day, year and place above written.
  
Doc. No. ____ Notary Public
Page No. ____
Book No. ____
Series of 2021.
November , 2021

ACKNOWLEDGEMENT RECEIPT
(EARNEST MONEY)

Received in Cash from SPS. ____________________________, both of legal age, Filipino

citizen and with residence address at ________________, Cavite, the sum of TWO MILLION
(Php 2,000,000.00) PESOS Only representing earnest money for the property purchased located
at Block 16 Lot 26 Phase 2 Town & Country Subdivision, Brgy. Salitran 4, Dasmarinas City,
Cavite, and is covered by Transfer Certificate of Title No. T-057-2017-010201 containing an
area of One Hundred Seventeen (117) square meters (Land) and One Hundred Sixteen (116)
square meters (2-storeys house).

Acknowledged by:

HOLY LIGHT PRESBYTERIAN CHURCH INC.

SELLER/VENDOR
Represented by:

YONGMO KIM 
President/Director

and

JO INA
Treasurer

Witnesses:

__________________________ _______________________