CONDITIONAL DEED OF SALE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF CONDITIONAL SALE is entered into and executed

by and between:

NORMA T. ELLIOTT, of legal age, married to THOMAS ELLIOTT,

Filipino, with residence at Brgy. Malopalo, Tinambacan District,
Calbayog City, Samar, Philippines, is hereinafter referred to as the
VENDOR/ TRANSFEROR;

-AND-

ARNEL D. LANCA, of legal age, Filipino, single, and presently

residing Calbayog City, Samar, hereinafter referred to as VENDEE/
TRANSFEREE.

WITNESSETH:

The VENDORS/ TRANFERORS are the owner of a lot and parcel of

land and its improvements particularly described as follows:

“A parcel of land under Transfer Certificate of Title No. 8628,

designated as Lot 11, Block 10 of Subdivision plan PSD-08-020725,
located in Brgy. Matobato, Calbayog City; bounded on the Southeast
along line 2-3 by Road Lot 7; on the Southwest along Line 2-3 by Lot
10, block 10 all of this subdivision; on the Northwest along line 3-4
by lot 2535, Cad. 422; and on the Northeast along lines 4-1 by lot
12, block 10 of this subdivision, with an area of ONE HUNDRED
FIFTY SQUARE METERS, more or less.”

WHEREAS, the parties agree on a selling price of SIX HUNDRED

THOUSAND (Php 600,000) PHILIPPINE CURRENCY;

WHEREAS, the VENDEE agree to pay a down payment of THIRTY

THOUSAND (Php 30,000) PHILIPPINE CURRENCY upon the
execution of this Deed of Conditional Sale;

WHEREAS, the remaining amount of FIVE HUNDRED SEVENTY

THOUSAND (Php570,000) PHILIPPINE CURRENCY shall be paid
by the VENDEE on a monthly basis until fully paid, starting from the
moth following the execution of this contract;

WHEREAS, the remaining monthly payments shall be paid on a

flexible payment arrangement such that THE VENDEE shall pay a
monthly payment of at least FIVE THOUSAND (5,000) PHILIPPINE
CURRENCY, at the end of the month of every month until full
payment of the contract price;

WHEREAS, the VENDEE may immediately fence, use or utilize the

property upon payment of the down payment;

WHEREAS, in view of the flexible payment arrangement, five (5)

consecutive late and missed payments shall forfeit all payments to
date and all previous payments shall be considered as rent;

WHEREAS, the VENDEE will bear all the payments for Capital
Gains Tax, Documentary Stamp Tax, Transfer Tax, Title Processing
and other related documents pertaining to Transfer of Ownership
and local property taxes; and

That the VENDOR shall undertake to execute the necessary DEED

OF ABSOLUTE SALE in favor of herein VENDEE upon full payment
of the above stated purchase price.

IN WITNESS HEREOF, the parties have hereunto set their hands

this ___day of _____________ in the City of Calbayog.

NORMA T. ELLIOTT ARNEL D. LANCA

Vendor Vendee

Signed in the presence of:

___________________________ __________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF CALBAYOG) S.c.
x---------------------------------------------x
 BEFORE ME, appeared the above stated parties showing their
Identification documents as stated below their names and known to
me as the parties who executed this Deed of Conditional Sale and
they acknowledged to me as their free and voluntary act and deed.
This document, consist of three (3) pages including this page where
this acknowledgement is written, with every page thereof duly signed
by the parties including their instrumental witnesses, at the bottom or
left margin thereof and seal with notarial seal, refers to a Deed of
Conditional Sale of Real Property.

Witness my hand and seal this day of ___________________,

Calbayog City, Philippines.

Document No: ___;

Page No: ___;
Book No: ___;
Series of 20__.