CONTRACT TO SELL

 
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of _________, 20__ by
and between:
 
Moses Generoso of legal age, married to Arriane Pabale Generoso, Filipino, and with
residence and postal address at Block 8 Lot 1 Cattleya St. Corner Dahlia St. Sta. Cecilia Village
Parian Calamba City Laguna, hereinafter referred to as the "SELLER ";
 
-and-
 
Mohammadreza Sheikhiani, of legal age, Iranian married to Elemay R. Badon and
with residence and postal address Unit 1015 10th floor Iris Bldg Tivoli Garden Residences
Coronado St. Brgy Hulo Mandaluyong City Metro Manila Philippines hereinafter referred to as
the "BUYER".
 
WITNESSETH;
 
WHEREAS, the SELLER is the absolute and registered owner of a condominium unit at
Tivoli Garden Residences, Mandaluyong City, more particularly described as to wit;
A condominium unit consisting of Fifty Nine (59) square meters, more or
less, two bedroom with balcony, located at Unit 2007 20th Floor Iris Bldg Tivoli
Garden Residences, Coronado St., Brgy Hulo, Mandaluyong City, Metro Manila,
Philippines and covered by Transfer Certificate of Title No. 008-2016007485 issued
by the Registry of Deeds of Mandaluyong City.

 
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 sum of Five Million Three
Hundred thousand Pesos (Php: 5,300,000.00) Philippine Currency, and of the covenants herein
after set forth the SELLER agrees to sell and the BUYER agrees to buy the aforesaid property
subject to the following terms and conditions: 

1. The total consideration shall be Five Million Three Hundred thousand Pesos (Php:
5,300,000.00), Philippine Currency, payable as follows:

a) That the BUYER shall pay to BDO directly the amount of Two Million Six Hundred
Seventy One Thousand, One Hundred Ten Pesos and Sixty Eight Centavos ( Php :
2,671,110.68) under the Home Loan Account Number :PN 515161120214 with the
 Account Name Moses Generoso and Arriane Pabale on or before July 15,2022, upon the
execution and the signing of this Contract to Sell;

b) That the BUYER shall pay to the SELLER the remaining balance in the amount Two
Million Six Hundred Twenty Eight Thousand ,Eight Hundred Eighty Nine Pesos and
Thirty Two Centavos. (Php: 2,628,889.32), in Cash or Managers Check within one
week from the release of the title of the property by BDO under the Home Loan
Agreement of BDO with the seller;

2. That the Real Property Tax up to third quarter of 2022 (September 2022) shall be settled full
by the SELLER including all remaining Balance of bills until July 15,2022 in the Property
Management office;

3. That the Documentary Stamps Tax, Registration Fee, registration expenses, and all other

miscellaneous fees and expenses shall be to the account of the BUYER;

4. That The Capital Gains Tax and Notarial fees shall be for the account of the SELLER;

5. That the possession of the subject property shall be delivered by the SELLER to

the BUYER upon full payment of the total consideration which is Five Million Three Hundred
thousand Pesos (Php: 5,300,000.00);

6. That the SELLER offers the aforementioned property on an “as is where is” basis, and all the
interior improvements including the appliances and furniture are all included in the selling price
with no warranty;

7. That the SELLER shall not sell, alienate, transfer, assign, donate, or in any way convey his
rights, interests, and/or ownership with respect to the above-described property to any person,
except herein BUYER, upon signing this contract and until the title of the property is released by
BDO and upon the payment of the BUYER of the full purchase price, otherwise the BUYER is
entitled to annul this contract and for the refund of the initial payment of Two Million Six
Hundred Seventy One Thousand, One Hundred Ten Pesos and Sixty Eight Centavos ( Php :
2,671,110.68) in full;

8. 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 ownership
from SELLER to the BUYER;

9. That in case of default in payment by the BUYER as indicated above, the initial
payment of Two Million Six Hundred Seventy One Thousand, One Hundred Ten Pesos and
sixty eight cents ( Php : 2,671,110.68) shall be refunded by the SELLER to the BUYER LESS
ten (10) percent of the total consideration, which shall be retained by the SELLER as
EARNEST MONEY.
 
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at ______________________, Philippines.
 

 (SELLER)                                 (BUYER)

Moses Generoso Mohammadreza Sheikhiani                    

 
WITH MARITAL CONSENT:

________________________                       _________________________

Arriane Pabale Generoso           Elemay R. Badon     

 
SIGNED IN THE PRESENCE OF:
 
__________________________               ____________________________
 
 

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.

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

appeared the following:
 
        Name                        ID Number              Date/Place Issued
 
Moses Generoso       Driver’s License N04-04-005445    July 24,2018 Quezon City
Arriane Pabale Generoso Driver’s License D04-06-007005     July 24,2018 Quezon City

Mohammadreza Sheikhian Passport no. T56306967 March 3,2022 Immigration Iran

Elemay R. Badon      Passport no P4949190B February 26,2020 DFA Manila
 
This instrument, consisting of ___ 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.
 
 
Notary Public
                              
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.