CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS

This Contract to Sell is made and executed by and between:

BUGS BUNNY R. CORNEJO, of legal age, Filipino Citizen, single, and with residence address
at 326 Tarlac St., Mt. View Subd, Balibago, Angeles City, herein after referred to as the SELLER;

and

ROAD RUNNER D. TAKBUHIN, of legal age, Filipino Citizen, single and a resident of,
Mabalacat, Pampanga, herein after referred to as the BUYER;

WITNESSETH:

WHEREAS, the SELLER is the owner of a parcel of land situated in the Barrio of Pandan, City
of Angeles, Island of Luzon, covered by Transfer Certificate of Title No. 123456 issued by the Registry
of Deeds for Angeles City, and which is more particularly described as follows:

Transfer Certificate of Title No. 98876502

“A parcel of land (Lot xx, Block xx, of the subd. plan (LRC) Psd-xxxx, being a portion of
Lot x, described on plan (LRC) Pcs-xxxx, LRC (GLRO) Csd. Rec. No. 991), situated in
the Barrio of Pandan, City of Angeles, Island of Luzon, containing an area of SEVEN
HUNDRED AND ELEVEN(711 sqm) Square Meters, more or less.”

WHEREAS, the BUYER has offered to buy the above title containing an area of SEVEN
HUNDRED AND ELEVEN(711 sqm) Square Meters of the above described property and described as
Blk. xx and Block xx and the SELLER has agreed to execute a contract to sell under the same terms and
conditions herein below set forth;

NOW THEREFORE, for and in consideration of the total sum of SEVEN MILLION ONE
HUNDRED TEN THOUSAND PESOS (Php7,110,000.00) Philippine Currency, the SELLER hereby
contracts to SELL, TRANSFER and CONVEY, a total SEVEN HUNDRED AND ELEVEN(711 sqm)
Square Meters unto the BUYER, his heirs, successors and assigns the above described parcel of land
under the following terms and conditions;

1. The total consideration shall be SEVEN MILLION ONE HUNDRED TEN THOUSAND
PESOS (Php7,110,000.00) Philippine Currency to be paid as follows.

a) Fifty Percent (50%) of the total selling price or THREE MILLION FIVE HUNDRED
FIFTY FIVE THOUSAND PESOS (P3,555,000.00) Philippine Currency, receipt of
which is hereby acknowledged is the initial payment/downpayment for the above
described property;

b) That the balance of THREE MILLION FIVE HUNDRED FIFTY FIVE

THOUSAND PESOS (P3,555,000.00) Philippine Currency shall be payabale on or
before June 3, 2023.

2. Capital gains taxes, documentary stamps, registration fees, transfer taxes and other incidental
expenses shall be for the sole account of the BUYER and shall not be deductible and shall be
excluded from the from the agreed selling price;
 3. That the SELLER shall remain the owner of the property and shall execute a Deed Absolute
Sale in favor of the BUYER ONLY upon full payment of the property;

4. That the BUYER shall not assign, hypothecate, or transfer this Contract or any right or
interest herein or in the property subject hereof without the prior written consent of the
SELLER unless full ownership over the property has been transferred to the BUYER;

5. The SELLER likewise shall not assign, hypothecate or transfer the subject property or any
right or interest therein unless it is proven that the BUYER violated the terms and conditions
set-forth in this contract;

6. That failure or delay on the part of the BUYER to pay the amount due on the date or within
the period specified in this contract shall entitle the SELLER to extra-judicially forfeit fifty
(50%) percent of the initial payment/downpayment already paid by the BUYER and in such
case, BOTH PARTIES HEREBY AGREE that this contract is automatically cancelled;

7. The parties herein do hereby agree, commit and bind themselves to comply faithfully and
strictly with the terms and conditions of this agreement.

IN WITNESS WHEREOF, the parties have affixed their signature this 10th day of February 2023 in the
City of San Fernando, Pampanga.

______________________________
BUGS BUNNY R. CORNEJO
SELLER

_______________________________
ROAD RUNNER D. TAKBUHIN
BUYER

SIGNED IN THE PRESENCE OF:

____________________________ ____________________________

ACKNOWLEDGMENT

Republic of the Philippines )

City of San Fernando, Pampanga ) S.S

BEFORE ME a Notary Public for and in the City of San Fernando, Pampanga this 10 th day of
February 2023 personally appeared,

NAME ID NO.
BUGS BUNNY R. CORNEJO Philippine National ID No. 46509874
ROAD RUNNER D. TAKBUHIN LTO ID No. C-09-78654323
 Known to me, to be the same persons who executed and voluntary signed the Contract to Sell
which they acknowledge before me that the same as their free and voluntary act and deed consisting of
Three (3) pages covering Transfer Certificate of Title No. 98876502.

The foregoing Contract to sell has been signed on the left margin of each and every page by the
parties and the witnesses.

WITNESS MY HAND AND SEAL, this 10th day of February 2023 at the city of San Fernando,
Pampanga.

BOB HARDAWAY T. DELA

CRUZ
Notary Public
Until December 31, 2023
Commission No. 212-2022-301
PTR No. 543423-01-12-21
Roll Of Attorneys No. 12985
MCLE Compliance no. V2-8964329-02-19-09
City of San Fernando, Pampanga
                                                      

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