CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT is made and executed by and

between –

ERIC APAS-DELGADO, of legal age, married to Hannah

Maravilla- Delgado, Filipino, and residents of Bacolod City, Negros
Occidental, hereinafter referred to as the VENDOR;

AND

VINCENT TAYCO-JALANDONI, of legal age, married to Maria

Caledo- Jalandoni, Filipino, and residents of Iloilo City hereinafter referred
to as the VENDEE;

WITNESSETH:

WHEREAS, the VENDOR is the registered owner of a parcel of land (referred to

herein as “the property”) located at Victorias City, Negros Occidental, which
property is covered by Transfer Certificate of Title No.T-091-2021003927,
issued by the Register of Deeds of Victorias City and contains the following
technical description, to wit:

TRANSFER CERTIFICATE OF TITLE No. 091-2021002951

“A parcel of land (Lot 1-I-2 Plan PSD-06-084630 (AR) being

a portion of Lot 1-T of (LRA), PSD-424623, situated in the City of
Victorias, Island of Negros. Bounded on the N., along Line 1-2,
112-1 by lot 272, Victorias cad. 57; on the E., along Line 2-5 by
Lot 1-I-11; PSD-06-084630; on the E., along Line 5-9 by Road
Lot 1-I-12; PSD-06-084630; and on the E., along Line 9-13 by
Lot 1-I-13, Victorias cad. 57; and on the E., along Line 13-14 by
Lot 1-I-14; PSD-06-084630………containing an area of FIFTHY
THOUSAND (50,000) SQUARE METERS, MORE OR LESS.”

WHEREAS, the parties have executed a Deed of Absolute Sale whereby

the VENDOR sold to the VENDEE the above-described portion of the property
equivalent to FIFTY THOUSAND (50,000) SQUARE METERS in the total
amount of TWENTY FIVE MILLION (₱25,000,000.00) PESOS.

NOW, THEREFORE, for and in consideration of the foregoing premises

and the parties have agreed that in addition to the stipulations and conditions
mentioned in the Deed of Absolute Sale, the following terms and conditions
shall also apply:
 1. PURCHASE PRICE. The purchase price of the property shall be FIVE
HUNDRED (₱500.00) PESOS per square meter or an equivalent of
TWENTY FIVE MILLION (₱25,000,000.00) PESOS, which shall be
paid based on the following schedule:

1st tranche of the purchase price (upon presentation ₱10,000,000.00

of the land title in the name of the Vendor, the
approved subdivision plan and the signed Deed of
Absolute Sale
2nd tranche of the purchase price to be paid on ₱7,500,000.00
September 15, 2021 (upon presentation of the
Certificate Authorizing Registration (CAR) issued by
the Bureau of Internal Revenue
3rd tranche to be paid on January 14, 2021(upon ₱7,500,000.00
issuance of the land title and land tax declaration in
the name of the VENDEE)

2. POSSESSION. Physical possession of the property shall be transferred

to, and enjoyed by, the VENDEE only upon full payment of the purchase
price as provided for in this contract

3. BINDING EFFECT. This Contract shall bind the parties, their heirs,
assigns and successors-in-interests. If any provision in this Contract is
declared null and void by any court of competent jurisdiction, the
portions not affected shall remain in force and effect. The provisions of
the Deed of Absolute Sale signed by the parties shall like remain valid
and binding between them.

IN WITNESS WHEREOF, the parties have hereunto affixed their

signatures this _____________ at Bacolod City, Philippines.

______________________ ______________________________

ERIC APAS-DELGADO VINCENT TAYCO-JALANDONI

VENDOR VENDEE

Signed in the presence of:

__________________ __________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

BACOLOD CITY, NEGROS OCC.) S.S.
x-------------------------------------------x

Before me, Notary Public, in this ___________ at Bacolod City, Philippines,

personally appeared the above named persons with their proof of identity
written below their names known to me and to me known to be the same
persons who executed this foregoing document and they acknowledged that the
same are their own free and voluntary acts and deeds.

WITNESS MY HAND AND SEAL on the date and place first above written.

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