CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed on this 9th day of May 2013, in
San Pedro, Laguna, by and between:

SPOUSES EDWIN I. DEL ROSARIO AND MA. TERESA B. DEL

ROSARIO, both of legal age, Filipinos, with address at No. 71 Zodiac
Street, Bel-Air IV, Makati City hereinafter referred to as the “VENDOR”;

-- and –

SPOUSES ROMEO EMMANUEL P. ALVAREZ AND SHEILA MARIE L.

ALVAREZ, both of legal age, Filipinos, with address at 14 San Vicente St.
San Pedro Laguna, represented by their Attorney-In-Fact, MARITES A.
SURTIDA with postal address at No. 9 Lark Street, Lakeshore Homes,
Tunasan, Muntinlupa City, hereinafter referred to as the „VENDEE.

WITNESSETH:

WHEREAS, the VENDOR is the registered owner in fee simple of a vacant

residential lot (hereinafter, the “Property”), which more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO. 105605

(Register of Deeds of the City of Las Pinas)

A parcel of land (Lot 1, Blk. 14, of the cons.-subd. plan, Pcs-

00- 010815, being a portion of Lot 5 & 6, Psd-13-005046,
situated in Tindig na Manga, Las Piñas, Metro Manila, Is. of
Luzon. Bounded on the NW., along the line 1-2 by Lot 1, Blk.
13, on the NE., along the lines 2-3 by Road Lot 15, on the
SE., along lines 4-9 by Road Lot 16, on the Sw., along line 9-
1 by Lot 2, Blk. 14, all of the cons.- subd. plan. Beginning at
a pt. marked "1" on plan, being S. 27-39'E., 10595.23 m.
from B.L.B.M. No. 1, Pamplona, Las Piñas, thence N. 55-
57'E.,23.20 m. to pt. 2; thence S. 33-25'E., 9.55 m. to pt. 3;
thence S. 27-08'E., 7.76 m. to pt. 4; thence S. 14-40'E., 1.54
m. to pt. 5; thence S. 05- 34'W., 1.55 m. to pt.6; thence S.
24-54'W., 1.54 m. to pt. 7; thence S. 44-27'W., 1.48m. to pt.
6; thence S. 55-58'W., 17.88
m. to pt. 9; thence N. 34-03'W., 20.99 m. to the pt. of
beginning, containing an area of FOUR HUNDERED SEVENTY
FOUR (474) SQ. METERS, and which Property is registered in
the names of SPOUSES EDWIN I. DEL ROSARIO AND MA.
TERESA B. DEL ROSARIO.

WHEREAS, the VENDEE has offered to purchase from the VENDOR and the
VENDOR has agreed to sell to the VENDEE, the Property, under the terms and
conditions hereinbelow specified;
 NOW THEREFORE, for and in consideration of the foregoing premises and of all
the covenants stated hereinafter, the parties agree as follows:

1. Gross purchase price of PESOS: Sixteen Thousand Pesos per square meter
(PhP16,000.00/sq.m.) or SEVEN MILLION FIVE HUNDRED EIGHTY-FOUR
THOUSAND (PhP7,584,000), Philippine Currency (hereinafter, the “Purchase
Price”) on an “As Is” basis;

2. The payment of the applicable capital gains tax or creditable withholding tax
shall be for the account of VENDOR. The documentary stamp tax shall be for the
account of the VENDEE. The brokers‟ commission shall be for VENDOR‟s sole
account and responsibility. On the other hand, the transfer tax, notarial
expenses, and all costs and expenses for the registration of the sale, the transfer
of title and all other Register of Deeds-related costs, fees, charges and expenses
as well as such other miscellaneous and incidental expenses, shall be for
VENDEE‟s account;

3. The aforesaid Purchase Price of PESOS : SEVEN MILLION FIVE HUNDRED

EIGHTY-FOUR THOUSAND (PhP7,584,000) shall be paid in the following
manner:

a) Earnest Money of PESOS FIVE HUNDRED THOUSAND (PhP500,000.00),

Philippine currency in Manager‟s Check, was received on April 11, 2013, non-
refundable and part of purchase price, receipt of which is hereby
acknowledged by the VENDOR;

b) It was agreed that VENDOR shall not entertain any purchase offers from
other interested buyers during the effectivity of signed Offer To Purchase,
which is forty-five (45) days upon acceptance of such offer or upon issuance
of Letter of Guaranty (LOG) from BDO-Pacita Branch, San Pedro, Laguna,
whichever is earlier, or any mutually agreed extension date;

c) VENDEE shall give the NET DOWNPAYMENT in the amount of TWO

MILLION EIGHT HUNDRED SEVENTY-EIGHT THOUSAND, SIX
HUNDRED TWELVE PESOS ONLY (PHP2,878,612.00), to the VENDOR
on May 9, 2013, representing total loan difference based on LOG face
amount less Capital Gains Tax due to VENDOR simultaneous with signing of
Letter of Guaranty (LOG) from BDO-Pacita Branch. COMPUTATION for NET
DOWNPAYMENT is below:

Amounts are in PhP:

Total Contract Price 7,584,000.00

Loan Amount 4,280,000.00

Less Bank Charges 74,612.00
NET LOAN AMOUNT 4,205,388.00

Loan Difference 3,378,612.00

Less: Earnest Money 500,000.00

NET DOWNPAYMENT PhP2,878,612.00;

4. That payment for Capital Gains Tax will be given to the VENDEE by the VENDOR
in the form of Manager‟s Check payable to Philtrust-Almanza Branch FAO BIR
IFO EDWIN I. DEL ROSARIO & MA. TERESA B. DEL ROSARIO;
 5. That the VENDOR will be reimbursed for payment of Realty Taxes for the period
of 3rd and 4th Quarters advanced by them to get required Tax Clearance for
2013;

6. That from the date hereof up to the Closing Date, the VENDOR warrants that all
the Property‟s documents and obligations are regularized and updated, which
include but not limited to, the following:

a) Certified True Copy of the covering Transfer/Condominium Certificate of Title

No. T-105605;

b) Certified True Copy of the updated Tax Declarations on the lot;

c) Original Receipt of updated payment of all real estate taxes up to the Second
Quarter of the year following the Closing Date;

d) Original Tax Clearance Certificate from the Las Piñas City Treasurer‟s Office;

e) Original Receipt of updated payment of all homeowner‟s association dues

and assessments and secure all appropriate association clearances and
Management Certificate;

f) Perform such other things necessary to ensure the smooth and legal transfer
of ownership of the Property to the VENDEE.

The original copies of the abovementioned documents and receipts shall be

conveyed or surrendered by the VENDOR to the VENDEE on Closing Date
including the Owner‟s Duplicate Copy of the title and the covering Tax
Declarations.

7. The VENDOR hereby warrants that they have just, valid and legal right to the
Property;

8. That on Closing Date, the VENDOR agrees and covenants to sell, cede, transfer and
convey the Property to the VENDEE, free from and clear of any liens and
encumbrances, lis pendens, adverse claims, options and rights of third parties,
court actions or suits expropriation proceedings and whatever legal proceedings
whatsoever; and to defend and hold the VENDEE free and harmless from any and
all claims, suits and proceedings questioning the title and ownership of the Property
transferred by the VENDOR;

9. That for purposes of the real property taxes, the Property is covered under the
following Tax Declaration:

Lot - Tax Declaration No. E-018-11007

10. Finally, the parties hereto agree to execute any and all further documents that may
be necessary and/or required to carry out the intents and purposes hereof.
IN WITNESS WHEREOF, the parties have hereunto set their hands on the day and at the
place first above written.

EDWIN I. DEL ROSARIO MA. TERESA B. DEL ROSARIO

(VENDOR) (VENDOR)
T.I.N. No. 134-624-814-000 T.I.N. No. 900-664-800-000

ROMEO EMMANUEL P. ALVAREZ SHEILA MARIE L. ALVAREZ

(VENDEE) (VENDEE)
T.I.N. No. 161-925-476-000 T.I.N. No. 149-901-853-000

By:

MARITES A. SURTIDA
(Atty.-In-Fact)

SIGNED IN THE PRESENCE OF:

 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ) S.S.

Before me, a Notary Public for and in the City of this day of May
2013 personally appeared:

NAME PASSPORT / VALID DATE OF ISSUE / PLACE OF

ID NO. ISSUE

EDWIN I. DEL ROSARIO EB2852423 July 12, 2012 / Legaspi City

MA. TERESA B. DEL ROSARIO EB0495142 July 2, 2010 /City of Manila
ROMEO EMMANUEL P. ALVAREZ EB6517681 October 9, 2012/ Singapore
SHEILA MARIE L. ALVAREZ Cert. of Marriage January 29, 1996/San Pedro,
Lic. No. 1806314 Laguna
MARITES A. SURTIDA Driver‟s Licence No. Expiry March 18, 2015/
049258 Muntinlupa City

known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free and voluntary act and deed.

This Contract to Sell consists of five (5) pages, including this page in which this
acknowledgement is written, was signed by the parties and two witnesses, and sealed
with by the notary.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal at
the City of Makati this th day of May 2013.

NOTARY PUBLIC

DOC. NO.
PAGE NO.
BOOK NO.
Series of 2013.