RESERVATION AGREEMENT

Macario G. Ibardelosa
Barangay Piis
Lucban, Quezon

Gentlemen:

As agreed upon and through this Reservation Agreement, I or my

assignees, nominees or representatives, as Buyer, hereby confirm my
reservation to purchase a parcel of land (“Subject Property”), and any and all
improvements thereon, from Macario G. Ibardelosa, as Seller.

The Subject Property, designated as Lot 5 of the

consolidation/subdivision plan, Pcs-04-011592 being a portion of the
consolidation of lots 8860 & 8861, Cad. -340-D, Lucban cadaster, located at
Brgy. Piis Lucban, Quezon, covered by Transfer Certificate of Title No. T-
371082 under the name of Macario G. Ibardelosa, is more particularly
described as follows:

Technical Description

As understood, the Subject Property is unqualifiedly reserved for my

purchase, or the purchase of any of my assignees, nominees or
representatives, to the exclusion of everyone else.

My reservation of the Subject Property is subject to the following terms

and conditions:

1. The reservation of the Subject Property is effective from the

execution of this Reservation Agreement, and until the Seller and
the Buyer can execute the appropriate Contract to Sell/Deed of
Absolute Sale.

2. The Seller reserves the right to stipulate a period (“Reservation

Period”), which shall be no less than six (6) months from the
execution of this Reservation Agreement, within which the Buyer
must communicate its firm decision to purchase the Subject
Property from the Seller. The Seller shall relay in writing the
stipulated Reservation Period to the Buyer, in its address at 7
Annapolis St., Platinum 2000, Unit 802, Greenhills, San Juan, Metro
Manila.

3. I, or any of my assignees, nominees or representatives, hereby

undertake to execute the Contract to Sell and/or Deed of Absolute
Sale covering the Subject Property with the Seller as soon as all
terms of the sale are agreed upon and the requirements therefor are
complete, such as, but not limited to, the proper authorizations
from the Seller to sell the Subject Property. Moreover, the purchase
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 price shall be paid as follows upon execution of a Contract to Sell
and/or Deed of Absolute Sale.

4. The Contract to Sell and/or Deed of Absolute Sale covering the

Subject Property shall have the following features:

a. Manner of Payment : Cash

b. Total Purchase Price: Two Million One Hundred Fifteen Thousand

Eighty Pesos (P2,115,080.00)

c. Terms of Payment:

i. The amount of Four Hundred Twenty Three Thousand Sixteen

Pesos (P423,016.00), as earnest money and representing 20%
of the purchase price, shall be paid by the Buyer to the Seller
upon the execution of the Contract to Sell and/or Deed of
Absolute Sale.

Upon payment of the earnest money, the Seller shall transfer

full possession and complete control of the Subject Property
to the Buyer.

ii. The amount of One Million Six Hundred Ninety Two Thousand
Sixty Four Pesos (P 1,692,064.00) as full payment and
representing 80% of the purchase price, shall be paid by the
Buyer to the Seller upon the issuance of the Transfer
Certificate of Title covering the Subject Property in the name
of the Buyer, and delivery of said Certificate of Title to the
Buyer, free from all liens and encumbrances.

iii. The amount of One Hundred Five Thousand Seven Hundred Fifty
Four Pesos (P105,754.00), as commission fee shall be paid by
the seller to the agents upon payment of the earnest money.

d. Taxes: The Seller shall be responsible for the payment of all

taxes, costs and fees relating to the transfer of the title over the
Subject Property to the Buyer, including, but not limited to,
documentary stamp tax and capital gains tax.

5. In case the Contract to Sell and/or Deed of Absolute Sale over the
Subject Property is not executed within the Reservation Period, if
any, through no fault of my own or due to delay attributable to the
Seller or his representatives, any Reservation Period shall be
automatically extended until the Contract to Sell and/or Deed of
Absolute Sale is executed with the Seller.

6. The Seller cannot sell, and has not sold, the Subject Property, or any
improvements thereon or any interest therein, to any third party,
whether personally or through brokers or representatives.

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 7. This Reservation Agreement is fully binding on the Seller, his heirs,
representatives, agents, brokers, and assigns. In case any of the
terms and conditions of this Reservation Agreement is breached by
the Seller, his heirs, representatives, agents, brokers or assigns, I
shall have a lien on the Subject Property to cover any damage
suffered due to such breach, and the Seller shall be solidarily liable
to me for the amount of Two Million Pesos (P2,000,000.00) and any
damage I may suffer arising from any breach of this Reservation
Agreement.

8. Upon execution of this Reservation Agreement, the same shall be

annotated on the certificate(s) of title subject of this Reservation
Agreement.

9. This Reservation Agreement contains the entire understanding of

the parties hereto and any stipulation, condition, representation or
warranty, oral or otherwise, not contained in this Reservation
Agreement shall not be binding, and this Reservation Agreement
shall not be considered changed or modified unless such changes or
modifications are made in writing by the parties.

Thank you.

Very truly yours,

___________________
Ricardo E. Santos

Conforme and Acceptance:

_________________
Macario G. Ibardelosa

Republic of the Philippines)

Lucban, Quezon ) S.S.

ACKNOWLEDGMENT

BEFORE ME this ____ day of ____ 2018 at _____City, personally

appeared the following:

C.T.C. No./Competent DATE and PLACE

NAME
Evidence of Identity of Issue

MACARIO G. IBARDELOSA

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known to me and to me known to be the same persons who executed the
foregoing instrument and they acknowledged to me that the same is their true
and voluntary act and deed.

This instrument consisting of four (4) pages, including this page on

which this acknowledgement is written, has been signed by the parties and
their witnesses on each and every page thereof.

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

Doc. No. ____ ;

Page No. ____ ;
Book No. ____ ;
Series of 2018.