CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of _________, 20__ by and
between:
 
        Alex S. Regado of legal age,  married to Emelie R. Regado , Filipino, and with residence
and postal address at  Blk 25 Lot 42 Gardens of Maia Alta Antipolo City, hereinafter referred
to as the "SELLER/VENDOR";
 
-AND-
 
Sammy C. Vicencio Filipino and with residence and postal address at 9 Paez Ville Subdivision,
Dampalit Malabon City , hereinafter referred to as the "BUYER/VENDEE".
 
WITNESSETH;
 
        WHEREAS, a certain real estate property exclusively owned by the SELLER is
available for sale, and located at :

Tower 2, Unit 18-A, 180 Aurora Blvd. Brgy Ermitano, San Juan City, Metro Manila
Description: 50 SQM, Fully Furnished Condominium Unit
BRIEF TECHNICAL DESCRIPTION CTC NO 012-2017000854:
18 /F
TOWE 2- UNIT A CONSISTING OF FIFTY SQUARE METERS (50.00 SQM).), MORE OR
LESS, WHICH FORMS PART OF THE CONDOMINIUM UNIT KNOWN AS “SUNTRUST
AURORA GARDENS” 
       

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER

/VENDOR 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 THREE MILLION ONE
HUNDRED THOUSAND (Php: 3,100,000.00) Philippine Currency, and of the covenants herein
after set forth the SELLER/VENDOR  agrees to sell and the BUYER/VENDEE agrees to buy
the aforesaid property subject to the following terms and conditions: 
 
1. The total consideration shall be One Million  (Php: 3,500,000.00) PESOS, Philippine
Currency, payable as follows:

a. The amount of THREE MILLION ONE HUNDRED THOUSAND PESOS (Php:

3,100,000.00), representing earnest money shall be payable by the BUYER/VENDEE to
the SELLER/VENDOR upon signing of this Contract to Sell;
b. The remaining balance of FOUR HUNDRED THOUSAND PESOS (Php 400,000.00)
shall be payable for eight (8) months starting September 2020 to April 2020 through post
dated checks addressed to MERLENDA A. PORTODO (THE BROKER)
c. Upon payment of the amount in paragraph, the BUYER/VENDEE can immediately begin
to occupy the said property
d. Starting August 2020, the BUYER/VENDEE shall be held fully responsible in making
the payments for the payment of monthly dues and other local government taxes.
e. Upon occupying the said property, the BUYER/VENDEE shall be held fully responsible
in paying for the utilities (water and electricity)
f. The SELLER/VENDOR guarantees that the property is free from any form of
encumbrance.
g. The BUYER/VENDEE purchases the property in an as-is basis, with all the furniture,
fixtures and appliances as agreed upon during the property visit.
h. The BUYER/VENDEE shall exercise due diligence in maintaining the property until full
payment, the BUYER/VENDEE is liable even for fortuitous events, any loss/damage to
property does not extinguish the obligation, and he shall be responsible for damages. 
i. In case any check representing the payment for the balance provided in paragraph b
hereof, is dishonored by the drawee bank, the BUYER/VENDEE shall be held liable
under Batas Pambansa Blg. 22 [AN ACT PENALIZING THE MAKING OR
DRAWING AND ISSUANCE OF A CHECK WITHOUT SUFFICIENT FUNDS
OR CREDIT AND FOR OTHER PURPOSES], the BUYER/VENDEE shall likewise
be held liable for a penalty of 6% of the total selling price.
j. The SELLER/VENDOR guarantees that all real estate taxes and other charges/fees of
the mentioned property prior to the purchase of the BUYER/VENDEE are all updated or
paid for the current year (year 2020). If not the SELLER/VENDOR shall pay the
expenses for the said documents/
 k. The SELLER/VENDOR guarantees that the utilities (electricity and water) prior to
occupying the property are paid.

2. Capital Gains Tax and Real Estate Tax, shall be for the account of the BUYER/VENDEE;
 
3. Documentary Stamps Tax, Registration Fee, registration expenses, and all other miscellaneous
fees and expenses shall be to the account of the BUYER/VENDEE;
 
4. Possession to the Condominium Certificate of Title (CTC NO 012-2017000854) shall be
delivered by the BROKER acting in behalf of the SELLER/VENDOR to
the BUYER/VENDEE upon full payment of the total consideration;
 
5. Upon full payment of the total selling price of THREE MILLION FIVE HUNDRED
THOUSAND PESOS (Php 3,500,000.00) , the SELLER/VENDOR shall sign and execute
a DEED OF ABSOLUTE SALE in favor of the  BUYER/VENDEE. 
The SELLER/VENDOR shall likewise execute and/or deliver any and all documents, the
original copy of Condominium Certificate of Title, Tax Declaration and all other documents
necessary for the transfer of ownership from SELLER/VENDOR to the BUYER/VENDEE.
 
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at ______________________, Philippines.
 
 
(SELLER/VENDOR)                                (BUYER/VENDEE)
Name                                                       Name

WITH MARITAL CONSENT:

________________________                       _________________________

Name of Seller/Vendor's Spouse           Name of Buyer/Vendee's Spouse

SIGNED IN THE PRESENCE OF:

__________________________               ____________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.

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

appeared the following:
 
        Name                        CTC Number             Date/Place Issued
 

 
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__.