CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS: This Contract to Sell made and executed by and between: _________________________________, Filipino, of legal age, single, with business and postal address at No. __________________________; and _________________________, Filipino, of legal age, single, with residence and postal address at No. _____________________________, hereinafter referred to as the VENDORS; - and ______________________________________, Filipino, of legal age, married to __________________, with residence and postal address at No. _________________________________________, hereinafter referred to as the VENDEE. WITNESSETH, THAT: WHEREAS, the VENDORS are the registered owners of a parcel of land located at ________________________, containing an area of ___________________ (______) Square Meters, covered by TCT No. ____________ issued by the Registry of Deed for the province of _______________, which property is more particularly described as follows: TCT NO. _______________ (Copy Technical Description)

WHEREAS, the VENDEE is desirous of buying the above-described parcel of land, and the VENDORS have signified their willingness to sell the same. NOW THEREFORE, for and in consideration of the foregoing premises the VENDORS hereby agree to sell to the VENDEE the above-mentioned property subject to the following terms and conditions: 1. The total contract price is P________________ or ________________ per square meter payable as follows:

a. b.

50% payable upon the execution of this instrument. Balance of 50% or P________________ payable in ____ (__) equal monthly installments of P________________ to be covered by post-dated checks. The _________ (____) post-dated checks shall be delivered by the VENDEE to the VENDORS together with the 50% downpayment.

c.

2.

Upon full payment of the contract price the VENDORS shall execute the corresponding Deed of Absolute Sale. In the event of dishonor or non-payment of any of the aforementioned checks upon presentment to the bank, the VENDEE promises and obligates herself to pay the amount due in cash within thirty (30) days plus interest equivalent to three (3%) percent per month of the amount due and demandable. In the event that the VENDEE fails to comply with this provision, this Contract to Sell shall automatically be deemed cancelled and of no further force and effect, and that any and all installment payments made and 50% of the downpayment shall be forfeited in favor of the VENDORS, and the VENDEE together with any and all persons claiming rights under her shall peacefully vacate the premises and surrender possession thereof to the VENDORS. All expenses to transfer title, like but not limited to payment of capital gains tax, documentary stamps tax, transfer tax, registration fees and other expenses to transfer title to the VENDEE from the VENDORS shall be for the account of the former.

3.

IN WITNESS WHEREOF, we have hereunto set our hands this ______ day of __________, 20___ at _________________________.

___________________ Vendor TIN: _______________

___________________ Vendor TIN:_______________

________________________ Vendee TIN: ________________

With my marital consent: ____________________

SIGNED IN THE PRESENCE OF: _________________________ ___________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES) QUEZON CITY, METRO MANILA) S.S. BEFORE ME, a Notary Public for and in the above jurisdiction this ______ day of _____________________, 20___, appeared: NAME ________________________ ________________________ ________________________ CTC NO. _______________ _______________ _______________ ISSUED ON / AT __________/_____________ _________/______________ __________/_____________

known to me and to me known to be the same persons who executed the foregoing instrument and they acknowledged to me that the same is their own, free and voluntary act and deed. This instrument consisting of three (3) pages including this page where the acknowledgment is written signed by the parties and by their instrumental witnesses on each and every page thereof refers to a Contract to Sell over a parcel of land situated at _____________________. WITNESS MY HAND AND SEAL on the date and place first above written.

Doc. No. ______; Page No. ______; Book No. ______; Series of ______.