CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this ____day of _________,20__

by and between;

-------------------------------------------married to ------------------------------, legal age, married ,

Filipino, and with residence and postal address at ------------------------------, Mexico,
Pampanga Philippines hereinafter referred to as the SELLER;

-AND-

_______________________________, whose principal office address is located in

-------------------------------------- Philippines and represented by one of its
incorporators -----------------------------------------, of legal age, married , Filipino, and with
residence and postal address at ------------------------------------------Philippines hereinafter
referred to as the BUYER;

WITNESSETH;

WHEREAS, the SELLER is the absolute and registered owner of a parcel of

land located at San Juan, Mexico, Pampanga covered by Transfer Certificate of Title
No. 505394-R issued by the Registry of Deeds of the province Pampanga which are
more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO 505394-R

"A PARCEL OF LAND (Lot 1of the cons- consolidation subdivision

plan, Pcs-03-010043, being a portion of the consolidated lots , 1 &
2, Psd-03-018933/OLT), L. R. C. . Rec. No. situated in the Barrio of
San Juan, Municipality of Mexico, Province of Pampanga. Bounded
on the SE., along line 1-2 by lot 4, Psd-03-0189339( OLT ), on the
SW., along line 2-3 by Prov. Road ., on the NW ., along line 3-4 by
lot 2, of the cons-subd. Plan, on the NE., along line 4-5 by creek ;
and on the SE., along line 5-1 by lot 3, Psd-03-018933( OLT ).
Beginning at a pt. marked ‘’ 1 “ on plan , being S. 47 deg. 18’E.,
602.08 m. from BM No. 72, Mexico Cad. Thence S. 61 deg. 36’W.,
156.94 m. to pt. 2; thence N. 18 deg. 04’W .,30.54m. to point 3;
thence N. 61 deg. 28’E., 307.05m. to pt. 4; thence S. 26 deg. 16 E.,
30.5 m. to pt. 5; thence S. 61 deg. 31’W., 154.44 m. to the pt. of
beginning containing an area of NINE THOUSAND THREE
HUNDRED SEVENTY NINE (9,379) square meters more or less."

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 the CONTRACT
PRICE FOR THE PROPERTY FOR SALE amounting TWENTY THREE MILLION
FOUR HUNDRED FORTY SEVEN THOUSAND FIVE HUNDRED PESOS
(P23,447,500.00) 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. PAYMENT The total consideration TWENTY THREE MILLION FOUR

HUNDRED FORTY SEVEN THOUSAND FIVE HUNDRED PESOS
(P23,447,500.00) Philippine currency and shall be paid as follows:

a) The amount of TWO MILLION THREE HUNDRED FORTY FOUR

THOUSAND SEVEN HUNDRED FIFTY PESOS (P2,344,750.00)
Philippine Currency , ten percent (10 %) of the total contract
price representing an EARNEST MONEY deposit shall be payable
by the BUYER to the SELLER upon execution of this Contract to
Sell and shall be considered part of the total contract price and shall
be paid by manager’s cheque under the name of
____________________________;

b) The remaining balance of TWENTY ONE MILLION ONE

HUNDRED TWO THOUSAND SEVEN HUNDRED FIFTY PESOS
(P21,102,750.00) Philippine Currency; representing the ninety
percent (90%) of the total contract price shall be payable by the
BUYER to the SELLER by post dated cheques in EIGHTEEN
(18 ) monthly payments and scheduled as follows:

• The monthly payment amounting ONE MILLION ONE

HUNDRED SEVENTY TWO THOUSAND THREE HUNDRED
SEVENTY FIVE PESOS (P1,172,375.00) Philippine Currency
will be delivered by the BUYER to the SELLER thirty (30 ) days
from the day of signing this CONTRACT TO SELL together with
the remaining Seventeen (17) post dated cheques with 30 days
interval ;

2. TAXES & FEES

• Broker’s professional fee of Five ( 5) % of the total contract price shall

be to the account of the SELLER; payment for Broker’s professional fee
will be the same as the mode of payment of the BUYER to the SELLER
as mentioned on this CONTRACT TO SELL;

• All other expenses and the registration of the sale and issuance of new
title in favor of the BUYER shall be for the sole account of the BUYER
such as capital gains tax , documentary stamp taxes, registration fee,
transfer tax , notarization fees and other expenses;
;
3. RIGHTS & OBLIGATIONS

• The BUYER has no right to assign his rights under this contract to a
corporation or any person, which corporation or person shall substitute
as BUYER in the sale pending full payment of the total consideration of
the sale;

• The BUYER has the right to conduct geodetic processing ( surveying)

upon delivering the Earnest Money deposit of ten percent (10 %) of the
total contract price;

• Both PARTIES agreed that the only DEED OF ABSOLUTE SALE

containing the subject property for sale with the total contract price
herein stated in this Contract to Sell executed and signed by the
SELLER & the BUYER and duly notarized that will be legally binding;

• The SELLER guarantees that the subject property is free from any
tenants, occupants or improvements, and that the BUYER will not be
disturbed in its possession and ownership. Any such claim against the
BUYER by any tenant or farmer of the SELLER, whose cause of action
arose prior to the execution of this instrument, shall be settled at the
expense of the SELLER;

• The SELLER has no right to transact to any individual interested to

purchase the above mentioned property upon accepting the EARNEST
MONEY deposit from the BUYER unless otherwise there is a
DEFAULT on part of the BUYER during the duration of this Contract to
Sell;

• The SELLER has the right to assist the BUYER in processing the
transfer of ownership at the Register of Deeds;

4. POSSESSION

• The BUYER cannot take possession and introduce any improvements

on the subject properties pending full payment of the total contract
price;

• Possession to the subject property shall be delivered by the SELLER

to the BUYER upon FULL PAYMENT of the total consideration;

5. TRANSFER OF OWNERSHIP

• Upon 90 percent (%) payment of the total consideration ( after the 15 th

post dated cheque), the SELLER shall sign and execute a DEED OF
ABSOLUTE SALE in favor of the BUYER to start processing the
transfer of ownership from SELLER to BUYER ;the SELLER shall
likewise execute and/or deliver documents necessary for the transfer;

• The SELLER will deliver the OWNER”S ORIGINAL DUPLICATE

COPY OF THE TRANSFER OF CERTIFICATE OF TITLE of the
property herein stated upon issuance of the eCAR from the Bureau of
Internal Revenue , with official receipt for payment of transfer tax and
ready to submit at the Register of Deeds for transferring of ownership
in favor of the BUYER after the 16th postdated cheque;
 6. DEFAULT

 If the BUYER fails to fulfill any of the obligations , terms and conditions stated
in this Contract to Sell , the SELLER has the right to terminate this contract and
forfeit all the payments already been delivered by the BUYER to the SELLER;

 In case the SELLER could not fulfill the obligation stated during the term of
this Contract to Sell , the BUYER shall be entitled for a refund of the amount
paid to the SELLER excluding EARNEST MONEY;

Upon issuance of the new Original Duplicate Owner’s Certificate Title in favor
of the BUYER by Register of Deeds of the Province of Pampanga all the
outstanding balances , the 17th post dated cheque or the remaining 5percent (%)of
the total contract price equivalent to the above mentioned monthly payment ;the
BUYER will pay to the SELLER not later than three (3 )days after the date of
issuance of the new TCT under the name of the BUYER. Nonpayment of the
BUYER to the SELLER of the mentioned amount shall mean forfeiture of this
Contract to Sell and the total amount received by the SELLER from the BUYER;

In any part of this Contract to Sell shall be deemed to be unenforceable or

unlawful by court of competent jurisdiction, such termination shall have no effect on
the validity and enforceability of the other terms and conditions of this Contract
to Sell , and the challenged term shall be deemed deleted;

The parties hereby agree to abide in good faith with the provisions of this
contract. All other laws pertaining to contracts shall likewise apply to this sale and that
this contract shall be binding on all parties, their assigns, and heirs.

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

___ day of ____________ 20__ at _________________________, Pampanga
Philippines.

______________________ _____________________

SELLER                                BUYER

WITH MARITAL CONSENT:

_______________________ _______________________

SELLER’S SPOUSE COMPANY REPRESENTATIVE

SIGNED IN THE PRESENCE OF:

__________________________ _______________________
SIGNATURE OVER PRINTED NAME SIGNATURE OVER PRINTED NAME

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

___________________________) SS.

BEFORE ME, a Notary Public , this _____day of ______________, 20__in

___________,Pampanga, Philippines personally appeared the following:

Name Proof of Identification Signature

This instrument , consisting of five (5) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each 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, month, year and place
above written.

Notary Public