CANCELLATION OF CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CANCELLATION OF CONTRACT TO SELL entered into by and between:

TAIYO DEVELOPMENT CORPORATION, a duly organized entity under the laws of the Republic of
the Philippines with business address at Brgy. Tabason Tagkawayan, Quezon, herein presented by Spouses
ANTONIO L. RABO & CARMELITA A. RABO, President and Corporate Secretary respectively, with
residence address at 187 Tandang Sora St. Bagong Barrio, Caloocan City, hereinafter referred to as the
“SELLER”

-AND-

ARNULFO H. DIVINA, of legal age, Filipino, married to GRACE E. DIVINA, and resident of 14
Agueda St. Bahay Toro, Quezon City, hereinafter referred to as the “PURCHASER”

WITNESSETH;

WHEREAS, a Contract to Sell dated February 23, 2023 was executed by the parties over the following
parcels of land with a total land area of 57.1514 HECTARES, more or less particularly describe as follows:

1. Lot No. 100, with land area of 6.6512 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00238 covered by TCT No. T-300962
2. Lot No. 50, with land area of 5.3523 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00157 covered by TCT No. T-300150
3. Lot No. 54, with land area of 2.7910 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00237 covered by TCT No. T-321048
4. Lot No. 35, with land area of 2.4220 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00015 covered by TCT No. T-307799
5. Lot No. 45, with land area of 3.8875 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00149 covered by TCT No. T-321047
6. Lot No. 130, with land area of 2.2187 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00170 covered by TCT No. T-294761
7. Lot No. 131, with land area of 2.0500 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00169 covered by TCT No. T-294449
8. Lot No. 608, with land area of 5.0094 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00518
9. Lot No. 102, with land area of 4.8181 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00159
10. Lot No. 44, with land area of 5.0879 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00153
11. Lot No. 106, with land area of 4.0000 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-039-0194
12. Lot No. 101, with land area of 3.1054 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 02-37-040-0222
 13. Lot No. 48, with land area of 5.4109 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number
14. Lot No. 28, with land area of 4.3470 hectares located at Barangay San Vicente Tagkawayan,
Quezon with tax declaration number 37-0036-00514

WHEREAS, the PARTIES have MUTUALLY AGREED to CANCEL, RESCIND and TERMINATE the said
Contract to Sell and the SELLER has agreed to return to the PURCHASER all amounts paid by the latter for
the aforesaid real properties.

NOW, THEREFORE, for and in consideration of the foregoing premises and the full refund of the total
amount paid amounting to Two Million Pesos (Php 2,000,000), receipt of which is hereby acknowledged
by the PURCHASER, the Contract to Sell dated February 23, 2023 between the SELLER and the PURCHASER
is hereby CANCELLED, RESCINDED AND TERMINATED.

The SELLER hereby waives and releases all rights and claims whatsoever against the PURCHASER, and
the PURCHASER hereby waives and releases all rights and claims whatsoever against the SELLER, its
assigns, affiliates, or successors-in-interest. The PURCHASER likewise waives and releases all rights and
interests in the described real properties.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this _____day of
______________________20_______ at ________________________ Philippines.

TAIYO DEVELOPMENT CORP.

ANTONIO L. RABO ARNULFO H. DIVINA

President Purchaser

CARMELITA A. RABO
Corp. Secretary

SIGNED IN THE PRESENCE OF

________________________________ _____________________________
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

_____________________________) SS.

BEFORE ME, a Notary Public for and in __________________________ personally appeared:

Name ID Number Date/Place Issued

ANTONIO L. RABO _____________________ __________________

CARMELITA A. RABO _____________________ __________________

ARNULFO H. DIVINA _____________________ __________________

Known to me and to me known to be the same persons who executed the foregoing instrument and
acknowledgement to me that the same are their free act and voluntary deed.

This instrument consisting of 3 (three) 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 concerned parties and
their witness and sealed with my notarial seal

WITNESS MY HAND AND SEAL on this __________ day of _____________________20___ at

________________________

Doc. No: __________

Page No: __________
Book No: _________
Series of 20________