CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENE:

This Contract to Sell is made and executed and entered into by: JENNY D.
SETENTA, single, of legal age, Filipino, with residence address at Poblacion,
Medellin, Cebu, hereinafter referred to as the SELLER;
-AND-
FRANKLIN R. PITOGO, single of legal age, Filipino, with residence address
at Kawit, Medellin, Cebu, hereinafter referred to as the BUYER;

WITNESS:
WHEREAS, the SELLER is the SELLER is the registered owner of a parcel of
land with improvements located at Kawit, Medellin, Cebu and covered by Tax
Declaration of Real Property, containing a total area of FOUR HUNDRED (400)
SQUARE METERS, more or less, issued by Municipality of Medellin;
WHEREAS, the BUYER has offered to buy and the SELLER 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 of FOUR HUNDRED
(P400,000.00) Philippine Currency, and of the covenants herein after set forth the
SELLER agrees to sell and the BUYER agree to buy the aforesaid property subject
to the following terms and conditions;
The total consideration shall be FOUR HUNDRED (P400,000.00) Philippine
Currency, payable through CASH as follows;
1.1 The amount of FIFTEEN THOUSAND (P15,000.00) representing earnest money
deposit being paid on the 7 th day of this December, 2022 and shall be considered
as part of the total Contract price,
1.2 The remaining balance amounting to THREE HUNDRED EIGHTY-FIVE
(P385,000.00) Philippine Currency, shall be payable within the month of
DECEMBER, 2022 until MARCH 2023 upon execution of this Contract to Sell,
1.3 Installment of FIFTEEN THOUSAND (P15,000.00) Philippine Currency, payable
every 7th day and 21st day of the month, and full payment will be paid to the
SELLER within the month of MARCH, 2023;
1.4 In case the BUYER/S could not fulfil any of their obligation stated in this Contract
to Sell, the earnest money shall be forfeited in favor of the SELLER.
All pending utility bills, if any, Real Estate Tax up to the time of sale, Capital
Gains Tax, Documentary Stamp Tax, shall be for the account of the BUYER;
 Notarization fees, Registration fees, Transfer fees, and all miscellaneous fees
and expenses to transfer the Transfer Certificate of Title in the name of the new
owner shall be for the account of the BUYER;
Possession to the subject property shall be delivered by the SELLER to the
BUYER upon payment of earnest money;
Upon full payment of the total price, the SELLER shall sign and execute a DEED
OF ABSOLUTE SALE in favor of the BUYER. The SELLER shall likewise execute
and/or deliver any and all documents, including but not limited to the original copy of
Transfer Certificate of Title, Tax Declaration and all other documents necessary for
the transfer of the ownership from SELLER to the BUYER,
In case the SELLER could not fulfil any of the obligations stated in this Contract
to Sell, the BUYER shall be entitled to a full refund plus TEN percentum 10% interest
per month.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,

this ______________ at _____________________, Philippines.

JENNY D. SETENTA FRANKLIN R. PITOGO

SELLER BUYER

SIGNED IN THE PRESENCE OF:

________________________ ________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF CEBU )SS.

BEFORE ME, a Notary Public personally appeared the above affiants

exhibiting to me their proof of identification, known to me to be the same persons
who executed the foregoing document, which they acknowledged to be their free and
voluntary act and deed.

WITNESS MY HAND AND NOTARIAL on the date __________________, at

Cebu City, Philippines.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 20__.