TUY AND COMMUNITY MULTI PURPOSE COOPERATIVE HOUSING

TCMPC HOMES
JOSEFINA VILLAGE
BRGY. COLILING SAN CARLOS CITY, PANGASINAN
CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell is made and executed by and between:

TUY AND COMMUNITY MPC – JOSEFINA VILLAGE, a cooperative duly organized and existing under and by virtue of laws, of the Philippines with CDA Registration No.
LGA – 0846 with main office address at 89 Mabini San Carlos City, Pangasinan represented by President/CEO ROBERTO E. MATALOG, hereinafter referred to as the
VENDOR;

and

ESTELLE CLARISSE CASTAÑEDA FACTOR hereinafter referred to as the VENDEE, of legal age, Filipino, with residence and postal address at 60 Brgy. Tarectec, San
Carlos City, Pangasinan

WITNESSETH;

That the VENDOR for and in consideration of the sum of SIX HUNDRED NINE THOUSAND PESOS (P 609,000.00) Philippine Currency, and all the terms and conditions
agreed upon herein, has contracted to sell to the VENDEE (who in turns has contracted to buy that parcel of land situated at JOSEFINA VILLAGE-BRGY COLILING, SAN
CARLOS CITY, PANGASINAN, of which property the VENDOR is the registered owner in accordance with Transfer Certificate of Title No. ______________ of the Office of
the Register of Deeds of San Carlos City, Pangasinan and more particularly described as Ph 2, Lot No. 1 Block No. 1 of the approved subdivision plan PSD-01-102478,
portion of lot 2-B-2 (LRA) PSD-E2018000630, with a total area of eighty-seven (87) square meters, more or less;

The terms and conditions of this contract to sell are as follows:

1. The VENDEE hereby agrees to pay the purchase price of six hundred nine thousand pesos (P 609,000.00) at the office of the VENDOR at 89 Mabini San
Carlos City, Pangasinan, or such other places as may be indicated by VENDOR in writing, without the necessity of demand or the services of a collector in the
following manner:
(a) One hundred twenty-one thousand eight hundred pesos (P 121,800.00) as down payment upon execution of this contract, and
(b) The balance of four hundred eighty-seven thousand two hundred pesos (P 487,200.00) in sixty (60) consecutive monthly installments beginning
October 1, 2022 at the rate of eleven thousand eighty-five & 30/100 pesos (P 11,085.30) each installment, including the interest rate of thirteen (13%)
percent per annum to accrue from the date of this contract.

2. There shall be surcharge of 3% of the amortization due for each month in arrears, or any fraction thereof, provided that this provision shall not apply to cases
where forfeitures have been affected in accordance with Section 12 and 13 hereof.

3. The VENDEE further agrees to pay, in addition to the purchase price and interest thereon mentioned in Section 1 hereof the following:
(a) Realty Tax – Real estate tax and other assessments on the subject lot shall be paid by the VENDOR without recourse to the VENDEE for as long as the title
has not passed the VENDEE. Provided, however, that if the VENDEE has actually taken possession of and/or occupied the lot, he shall be liable to the
VENDOR for such tax and assessments effective the quarter following such taking possession and/or occupancy.
(b) Documentary stamps, notarial and execution fees of this contract as well as those of the corresponding deed of absolute sale, the registration fees of the
latter and all other related expenses shall be for the account of the VENDEE.

4. Upon complete payment by the VENDEE of all the obligations herein stipulated, the VENDOR agrees to execute a final deed of sale in favor of the VENDEE and
to deliver the certificate of title to the lot free from liens and encumbrances, except those as may be provided in the Land Registration Act, those imposed by
legitimate authorities, those contained in Section 5 of this agreement and existing Subdivision Regulations;

5. The lot subject matter of this Contract is subject to the following restrictions:
(a) The parcel of land subject of this contract shall be used by the VENDEE exclusively for residential purposes;
(b) No animals shall be kept in the premises except pets such as dogs, cats or caged birds;
(c) All buildings which may be constructed at any time on the property must be of strong materials, and properly painted with modern sanitary installations
connected to public sewer or to an appropriate septic tank and must be erected at a distance of not less than two (2) meters from the boundary lines, except
the front which should be three (3) meters from property line. All such construction must be approved by the health, fire and building officials of the
municipality or province where the property is situated. Requirements of the National Planning Commission and its agencies or by similar board of
instrumentalities of the Government which are or may be binding upon the VENDOR shall be followed and complied with by the VENDEE. The VENDOR
shall have the unqualified right to demand demolition of any building or improvements constructed in violation of this Contract;
(d) Billboards, signs and advertising media which are or may be offensive to the sight or which may destroy or obstruct the view of the landscape of the general
vicinity shall not be put, constructed or affixed on the property. The VENDOR has the right to impose all or any of the conditions in this section as liens on
the property and to cause the same to appear as such on the certificate of title.
(e) The VENDEE becomes automatically a member of the HOMEOWNER’S ASSOCIATION which shall be formed exclusively for owner of
___________________________________________________. This Homeowner’s Association shall among others, take over from the VENDOR, the
administration of rules and regulations for the security, sanitation and common good of the community. It shall take over the administration and maintenance
of the community facilities within the subdivision. VENDEE is aware that the development of the subdivision is programmed.
(f) In the event of devaluation or inflation of the Philippine Currency due to any cause or reason whatever, the basis for the consideration shall be adjusted on
the outstanding balance accordingly to conform to the value of the Philippine pesos at the time of the execution of the instrument.

6.
(a) The VENDEE shall do or pay for any filling or any improvement on the land which may be required by the Government or other competent authority and in
case the VENDOR is compelled to make such filling or improvements by the reason of the inability of the VENDEE to comply with such requirements, the
latter shall reimburse the VENDOR the cost and expenses thereby incurred by making an initial payment of fifty percent (50%) of the total cost and the
balance in equal monthly installment for twelve (12) months from the date VENDOR commenced to fill the lot, plus interests at the rate of two (2%) percent
per month on the unpaid balance.
(b) Should this contract be cancelled or terminated for failure of the VENDEE to comply with any conditions herein contained, the filling or any other
improvements made, whether totally or partially paid by the VENDEE, as well as any improvement introduced shall form part of, and be attached to the land
and shall become the property of the VENDOR without any obligation on the part of the latter to indemnify the VENDEE for the cost of the same.

7. The VENDEE hereby agrees that representatives of the VENDOR shall have the right to enter the property at any time for the purpose of inspection,
measurement relocation, survey, laying of monuments or of necessary lines for electric power, telephone systems and other public utilities, and any
inconveniences or disturbance thus caused shall not be a caused for rescission of this Contract or an action for damages;

8. The VENDEE also agrees not to sell, cede, encumber, transfer or in any other manner dispose of his/her/their rights and obligations under this contract without
the express written consent of the VENDOR, and any such sale, cession, encumbrance, transfer or any other manner of disposition in violation hereof shall be
deemed ipso facto void. The VENDEE further agrees not to take soil or any other manner from the parcel of land or in any other lot in this subdivision.

9. The VENDEE agrees to pay the following additional fees:

(a) P100.00 for true copy of any lost contract
(b) P150.00 for amendment of the contract
(c) Two percent (2%) of the total price for any transfer of rights per lot.

10. The parties hereby further agree that the roads in the subdivision are made available only to the VENDEE and members of his family who shall utilize and make
use of the lot so acquired for residential purposes, and not otherwise to gain entrance to and/or exit from the subdivision in such manner that the VENDEE shall
create a right-of-way through the roads of the subdivision to have access to the property within, beyond or adjoining the subdivision. Should the VENDEE be
found to have purposely purchased a lot in the subdivision to gain access to properties within, beyond or adjoining the subdivision be it belonging to said VENDEE
or other persons, the VENDOR shall have the right to extra-judicially cancel this Contract to Sell, with the right to reimburse the fifty(50%) percent (principal only,
excluding interest) of whatever the VENDEE to reconvey the same subject to reimbursement to VENDEE of 50% of whatever he has paid (on account of the
principal);

11. If there are two or more VENDEES under this contract, the obligations mentioned herein are deemed contracted by the VENDEES in their joint and solidary
capacities;
 12. Failure on the part of the VENDEE to comply with his obligations herein, shall entitle the VENDOR to cancel this Contract, and if the reason or cause of
cancellation is non-payment of any installment herein, the Republic Act No. 6552, otherwise known as the Maceda Law, shall be observed and followed.
Installment in arrears shall be liable to liquidated penalty at the rate of three (3%) percent per month of default from date it is due;

13. That the breach of the VENDEE of any conditions contained herein shall have the same effect as non-payment of taxes and of the installments of the purchase
price. In any of the above cases, the VENDEE authorizes the VENDOR or its representatives to enter in the property to take possession of the same and take
whatever action is necessary or advisable to protect its right and interest in the property; and nothing that may be done or made by the VENDEE shall be
considered as revoking this authority or denial thereof;

14. The parties herein agree that in the event that there is a difference between the area of the lot, subject-matter of this Contract as above described, and the area of
the same lot as finally approved by the Land Registration Commission and other pertinent authorities, the latter area shall prevail and the purchase price of said
lot shall be correspondingly decreased or increased as the case may be;

15. If any time before the payment of the purchase price the government or any of its political subdivision, instrumentalities or any public service company shall
condemn or expropriate the property, the VENDOR shall have the full and absolute right to deal, negotiate or resist the expropriating and condemning authority or
to enter into a compromise with the latter, and the VENDEE shall have only the right to receive a portion of the compensation which the amount of the purchase
price of the expropriation bears to the total purchase price and to a pro rata reduction of the purchase price for the unexpired period;

16. That should the VENDOR resort to the courts of justice in order to eject the VENDEE and/or to protect its rights or for the redress of the grievances under this
agreement, the VENDEE agrees to pay to the VENDOR, by way of Attorney’s fees, a reasonable sum which in no case shall be less than ONE THOUSAND
PESOS (P1,000.00), if the case is in the municipal courts, an additional of TWO THOUSAND PESOS (P2,000.00), if the case is in or reaches the Regional Trial
Court, and a further sum of THREE THOUSAND PESOS (P3,000.00) if it reaches any Appellate Court, and in addition, the cost and expenses of litigation and the
damages actual or consequential, to which the VENDOR may be entitled by law;

17. The VENDOR has the absolute rights to assign, encumber or otherwise transfer any or all its rights, title and interest in this Contract to Sell in favor of any party;

18. That the VENDEE hereby represents that this entire agreement has been read and/or translated to him in the language or dialect known and understood by him.
The VENDEE further manifests and admits that he has investigated the premises subject matter of this agreement;

19. That this agreement cancels and supersedes all previous contracts or agreements between the parties and this shall not be considered modified, change, altered
or in any way amended by acts of tolerance of the VENDOR unless such changes, modifications, alterations or amendments are made in writing and signed by
both parties to this agreement;

20. Should any provisions of this Contract be declared by Courts to be null and void, such shall not affect the validity of this transaction on any other provision herein
which shall continue to be binding between the parties.

IN WITNESS WHEREOF, the PARTIES have caused this instrument to be signed on……………………………………… at………………………………………..

TUY and COMMUNITY MULTI PURPOSE COOPERATIVE – HOUSING

(VENDOR)
TIN: 005-789-609

Represented by:

ESTELLE CLARISSE CASTAÑEDA FACTOR ROBERTO E. MATALOG

VENDEE President/CEO

_________________________
(TIN)

With marital consent (if married)

__________________________

SIGNED IN THE PRESENCE OF

_____________________________ ________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

)S.S.
)

BEFORE ME, a Notary Public for and in ______________ this ____________ day of _________ 20________personally came and appeared:

Name ID Number Date/Place Issued

ROBERTO E. MATALOG SC # 422-06

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

This instrument, consisting of 2 pages, 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.

WITNESS MY HAND AND SEAL on this ______day of ___________20__________ at_____________________________.

Notary Public

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