Professional Documents
Culture Documents
SPOUSES DANILO LIM and CAROL LIM, both of legal age. Filipino,
and a resident of ___________________________, (hereinafter referred to
as the "VENDOR");
- and –
WITNESSETH:
WHEREAS, the VENDOR is the duly authorized representatives of the registered owner
of a parcel of land including other improvements found and standing thereon located at Phase
1 Laguna Bel Air, Sta. Rosa Laguna;
.
WHEREAS, the VENDOR desires to sell and the VENDEE agrees to buy the
aforementioned parcel of land, including all the improvements thereon, subject to certain terms
and conditions mutually acceptable to the parties;
NOW, THEREFORE, for and in consideration of the foregoing and the mutual
covenants and stipulations hereinafter set forth, the parties hereto have agreed, stipulated and
covenanted and hereby agree, stipulate and covenant as follows:
1. Purchase Price - The total purchase price shall be One Million Six Hundred
Thousand Pesos (Php 1,600,000.00). Philippine Currency, payable as follows, without
need of demand:
2. Delay / Default in Payment - Should the VENDEE fail to pay the balance on the
purchase price in accordance with the schedule of payment provided in the
immediately preceding paragraph, the VENDOR shall have the option of
rescinding the instant Agreement by serving on the VENDEE, his agents or
representatives, a notarized Notice of Rescission;
3. Effects of Rescission - Should the instant Agreement be rescinded for any cause
whatsoever, the initial payment of P100,000.00 by the VENDEE be considered
waived by the VENDEE;
4. Inspection and Warranty - The VENDOR has agreed to sell the subject
property to the VENDEE on an "AS IS,"WHERE IS" basis. The VENDEE
hereby declares that he has inspected the subject property prior to the execution of
1
this Agreement, and acknowledges that he is fully satisfied with the conditions
thereof. The VENDOR makes no warranty as to the condition, operational or
structural capability, or as to any hidden defects of the subject property, which the
VENDEE warrants to know by virtue of the VENDEE's duty to inspect:
6. Warranty of the VENDOR. - The VENDOR hereby warrants that prior to the
transfer of ownership in favor of the VENDEE, the VENDOR shall not alienate,
encumber or otherwise transfer the property without the prior written consent of the
VENDEE and that the tax declaration has been paid prior to the execution of this
agreement.
7. Taxes, Registration and Transfer Expenses - All taxes such as capital gains
tax and documentary stamp tax, necessary for the transfer of title and ownership
from the VENDOR to the VENDEE, including legal fees for the preparation and
notarization of all documents related to this transaction, shall he for the account of
the VENDEE. Likewise, registration fees and charges and other transfer costs
shalt be for the account also of the VENDEE;
8. Binding Effect. - The instant Agreement shall be binding not only on the parties
herein, but also on their heirs, assigns and successors-in-interests;
___________________ _____________________
2
Acknowledgement
known to me to be the same persons who executed the foregoing instrument, and they
acknowledged to me that the same is their free act and deed.
This instrument refers to the Deed of Conditional Sale of one (1) parcel of land
consisting of Three (3) pages including the page on which this acknowledgement is
written, has been signed on the left margin of each and every page thereof by the parties
and their instrumental witnesses.
NOTARY PUBLIC
Doc. No.____
Page No. ____
Book No.____
Series of 2018