CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this ____ day of _________, 20__
by and between:

__________________, all of legal age, Filipino, with residence and postal

address at Barangay Washington, Surigao City, hereinafter referred to as
the "SELLERS";

-AND-

_________________________, of legal age, Filipino and with residence and

postal address at Barangay Panikian, Carrascal, Surigao del Sur, hereinafter referred
to as the "BUYER".

WITNESSETH;

WHEREAS, the SELLERS are the absolute and registered owners of a parcel
of land consisting of LAND AREA of ONE HECTARE AND SIX THOUSAND
FIVE HUNDRED FIFTY TWO SQUARE METERS (1.6552 ha), more or less,
located at Barangay Panikian, Carrascal, Surigao del Sur and covered by Tax
Declaration No. _______________________issued by the Municipal Assessors
Office of Carrascal, Surigao del Sur.

WHEREAS, the SELLERS, who for this purpose are solely represented by
____________________________ pursuant to a Special Power of Attorney
executed, are offering to sell and convey the entire parcel of land. Conversely, the
BUYER hereto expressly accepts the offer to acquire the property under the terms
and conditions herein below set forth.

NOW THEREFORE, for and in consideration of the total sum of ONE

MILLION FIVE HUNDRED THOUSAND PESOS (Php: 1,500,000.00)
Philippine Currency, and of the covenants herein after set forth
the SELLERS agree to sell and the BUYER agrees to buy the aforesaid property
subject to the following terms and conditions:

1. The total consideration shall be ONE MILLION FIVE HUNDRED

THOUSAND (Php: 1,500,000.00) PESOS, Philippine Currency, shall be payable
as follows:

a) The amount of SIX HUNDRED THOUSAND (Php: 600,000.00) PESOS,

representing earnest money shall be payable by the BUYER to the SELLERS
either in Cash or through a Manager’s Check upon signing of this Contract to Sell
and shall be included as part of the total contract price;

b) The remaining balance in the amount of NINE HUNDRED THOUSAND (Php:

900,000.00) PESOS, shall be paid in Cash or through Manager’s Check/s in full or
on installment basis within the period of eighteen (18)months which shall be
counted from the date of the signing of this Contract to Sell.

c) In case of non-payment and/or delay representing the payment for the balance
provided in Paragraph b hereof, or when the BUYER/VENDEE defaulted her
payment, the earnest money in the amount of SIX HUNDRED THOUSAND (Php:
600,000.00) PESOS, shall be forfeited outright and in full in favor of
the SELLERS, without the need for notification, collection or demand letter to the
BUYER.

2. Capital Gains Tax, Documentary Stamps Tax, Registration Fee, Notarial Fee,
registration expenses, and all other miscellaneous fees and expenses shall be for the
account of the BUYER. However, Real Estate Tax shall be for the account of the
SELLERS;

3. The BUYER shall continue to pay the rental on the above mentioned property
during the course of the eighteen (18) month payment period which shall be
counted from the date of the signing of this Contract to Sell or until such time as the
full payment of the total consideration is completed and duly settled;

4. Possession to the subject property shall be delivered by the SELLERS to

the BUYER upon complete settlement of the rentals provided in Paragraph 3 and
full payment of the total consideration for the sale of the property provided in
Paragraphs 1 and 2;

4. Upon full payment of the total price, the SELLERS shall sign and execute
a DEED OF ABSOLUTE SALE in favor of the BUYER. The SELLERS shall
likewise execute and/or deliver any and all documents, including but not limited to
the original copy of Tax Declaration and all other documents necessary for the
transfer of ownership from the SELLERS to the BUYER.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
___ day of ____________, 20__ at ______________________, Philippines.

_______________________________
SELLERS

_______________________________
BUYER

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
SURIGAO CITY, SURIGAO DEL NORTE) SS.

BEFORE ME, a Notary Public for and in the City of Surigao, the following
appeared and exhibited to me proof of their respective identities:

Name Identification Number Date/Place Issued

known to me and to me known as the very same persons who executed the
foregoing instrument, a CONTRACT TO SELL, and acknowledged to me that the
same is their free and voluntary act and deed. That this instrument consisting of
three (3) pages, including this page on which this Acknowledgment is written, has
been signed by the concerned parties and their instrumental 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__.