CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of December, 2023 by and
between:

JAYME H. CULANGO, of legal age, married to EUPROSINA P.

CULANGO; Filipino, and with residence and postal address at 6th St., Carmen
Village, Dumlog, Talisay City, Cebu, Philippines hereinafter referred to as
the "SELLER";

-AND-

JOSE M. PANCHO II, Filipino and with residence and postal address at Bato,
Toledo City, Cebu, hereinafter referred to as the "BUYER ".

WITNESSETH;

That the SELLER is the absolute and lawful owner of a certain parcel of land
situated in Teguis, Poro, Cebu, and more particularly described and bounded as follows:

“A parcel of land designate covered by Tax Declaration No. 34-0017-14140, attached

hereto as Annex “A”, bounded on the North on the North by Lot No. 726-A, East by
Provincial Road, South by Lot No. 7019 and on the West by Lot 1 Conso-Subd. of Lot 6, PSD-
07-044685 Portion of Lot 4, PSU 196245. Containing an area of ONE THOUSAND SEVEN
HUNDRED FIFTY SEVEN SQUARE METERS (1,757 sqm), more or less.”

NOW THEREFORE, for and in consideration of the total sum of TWO MILLION
TWO HUNDRED EIGHTY FOUR THOUSAND ONE HUNDRED PESOS (Php 2,284,100.00)
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. The total consideration shall be TWO MILLION TWO HUNDRED EIGHTY FOUR
THOUSAND ONE HUNDRED PESOS (Php 2,284,100.00), Philippine Currency, payable
as follows:

a) The amount of ONE MILLION PESOS (Php 1,000,000.00) PESOS, representing

downpayment shall be payable on December 2023 and January 2024 to
the SELLER upon signing of this Contract to Sell;

b) The remaining balance in the amount of ONE MILLION PESOS TWO HUNDRED
EIGHTY FOUR THOUSAND ONE HUNDRED PESOS (Php 1,284.100.00), shall be
payable in six (6) monthly equal installments;

2. Capital Gain Tax, Documentary Stamps Tax, and all other miscellaneous fees and
expenses pertaining to the sale shall be for the account of the BUYER;

3. Registration Fee, Transfer Fees and all miscellaneous fees and expenses to transfer the
certificate of title and tax declaration in the name of the new owner shall be for the account
of the BUYER;

4. That the SELLER shall warrants valid title to the subject property and that the same is
free of all liens, mortages, charges, encumbrances, of whatever nature before payment
of the remaining balances will be made. The SELLER further warrants to indemnify the
BUYER of any damage caused to him on account of such defect if any.

5. SELLER has agreed that upon issuance of checks representing last remaining balances,
the SELLER shall sign and execute a DEED OF ABSOLUTE SALE in favor of the BUYER. The
SELLER shall likewise execute and/or deliver any and all documents, including but not
limited to the original copy of Transfer Certificate of Title, Tax Declaration and all other
documents necessary for the transfer of ownership from SELLER to the BUYER.

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

JAYME H. CULANGO JOSE M. PANCHO II

Seller Buyer
__________________________ UMID CRN 0111-4285969-7

With My Marital Consent:

EUPROSINA P. CULANGO

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
_____________________________ ) SS.

BEFORE ME, a Notary Public, this _______day of ______________________, personally appeared the
following:
Name ID Place Issued
JAYME H. CULANGO ____________________ ___________________
EUPROSINA P. CULANGO ____________________ ____________________
JOSE M. PANCHO II UMID CRN 0111-4285969-7 Cebu City

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 ______.