CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract To Sell made and entered this ___ day of ____________, 2015, in
the City of ____________, by and between:
____________, of legal age, Filipino, with principal office address located at 747
N. Padilla Street, San Miguel, Manila, hereinafter referred to as the SELLER;
-and____________, of legal age, Chinese National with postal address at Unit 16-I
Mandarin Square Condominium, No. 777 Ongpin St. Binondo, Manila; hereinafter
referred to as the BUYER;
WITNESSETH;
WHEREAS, the SELLER is the absolute and registered owner of Unit 16-I
(consisting of 109.8 square meters more or less) in Mandarin Square Condominium,
No. 777 Ongpin St. Binondo, Manila;
WHEREAS, the BUYER have offered to buy and the SELLER has agreed to
sell the above mentioned property under the terms and conditions herein below set
forth;
1. The total consideration shall be NINE MILLION AND FIVE HUNDRED THOUSAND (P
9, 500,000.00), Philippine Currency, payable as follows:
a) The amount of FIVE HUNDRED THOUSAND PESOS (P 500,000.00) representing
the earnest money was paid by the BUYER to the SELLER on February 26, 2015
with BDO Account, Zurbaran Branch with Check No. 0000153504;
b) The remaining balance in the amount of NINE MILLION PESOS (P 9,000,000.00)
shall be paid in 36 equal monthly instalments in the amount of TWO HUNDRED
FIFTY THOUSAND PESOS (P 250,000.00) commencing on March 30, 2015 to
February 28, 2018 with BDO Account in Check Nos. as follows: 0000153511,
0000153512, 0000153513, 0000153514, 0000153515, 0000153516, 0000153517,
0000153518, 0000153519, 0000153520, 0000153521, 0000153522, 0000153523,
0000153524, 0000153525, 0000153526, 0000153527, 0000153528, 0000153529,
0000153530, 0000153531, 0000153532, 0000153533, 0000153534, 0000153535,
0000153536, 0000153537, 0000153538, 0000153539, 0000153540, 0000153541,
0000153542, 0000153543, 0000153544, 0000153545, 0000153546;
c) In case that one of the checks representing the payment for the balance provided
in paragraph b hereof is dishonored by the drawee bank, the earnest money and the
full amount paid by the BUYER and actually credited to the SELLER, shall be
forfeited in favor of the SELLER.

3. Possession to the subject property shall be delivered by the SELLER to

the BUYER upon full payment of the total consideration;

4.
Upon full payment of the total consideration, 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 the Condominium Certificate of Title, Tax Declaration and all
other documents necessary for the transfer of ownership from SELLER to the
BUYER.
5. The Parties expressly agreed that the payment of Real Property Tax commencing
on May 20, 2015 onwards shall be shouldered by the BUYER. The Real Property Tax
covering the period of January up to April 2015 shall be shouldered by the SELLER.
6. The Parties also agreed that the payment of association dues and utilities
(electricity, water, cable and internet) etc. commencing on May 20, 2015 onwards
shall also be shouldered by the BUYER.
IN WITNESS WHEREOF, the parties have hereunto signed this Contract to
Sell on the date and place first above written.

By:

By:
_______________
SELLER

________________
BUYER

SIGNED IN THE PRESENCE OF:

______________________________

_____________________________

ACKNOWLEDGMENT
Republic of the Philippines)
City of ________________)S.S.
BEFORE ME, a notary for and in the City of __________, personally appeared:
Name

I.D.

Date/Place Issued

known to me and to me known to be the same persons who executed the foregoing
Contract to Sell and acknowledged to me that the same is their free voluntary act
and deed.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Doc. No. ___;
Page No. ___;
Book No. ___;
Series of 2015.

Notary Public