CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Buy and Sell made and entered into this 1st day of November, 2013 at Mandaluyong
City, Philippines, by and between:
CHILL LANG REALTY AND DEVELOPMENT CORP., a corporation duly organized
and existing under and by virtue of Philippine laws, with principal office address at No. 330,
Legarda Street, Madaluyong City, represented herein by its President, Ms. Carol Lee
(hereinafter referred to as the SELLER)
- and JACK DIMAGIBA, of legal age, Filipino, with residence and postal address at #1 St. Andrew
St., Brgy. Wack Wack, Mandaluyong City (hereinafter referred to as the BUYERS)
W I T N E S S E T H : That
WHEREAS, SELLER will develop the Wack Wack Village subdivision project (the Project) on a
portion of a parcel of land located in Brgy. Wack Wack, Mandaluyong City, Metro Manila, and more particularly
described in Transfer Certificate of Title No. 27255 issued by the Registry of Deeds for the City of
Mandaluyong;
WHEREAS, BUYER has viewed the Project and the townhouse unit subject of this Contract and is
desirous of purchasing from SELLER the townhouse unit hereinafter designated;
NOW, THEREFORE, for and in consideration of the foregoing premises and the payment of the
purchase price hereinbelow specified, SELLER hereby agrees to sell to BUYER, and BUYER hereby agrees to
purchase from SELLER, the townhouse unit hereinbelow described under the terms and conditions hereinafter
set forth:
1.
THE PROPERTY TO BE PURCHASED: (a) The townhouse unit (hereinafter referred to as
the Subject Property) subject of this Contract to Buy and Sell (hereinafter, this Contract) is more
particularly described as follows:
UNIT
APPROXIMATE UNIT AREA
LOT AREA

No. 08
250.00 square meters
300.00 square meters

:
:

(b)
Subject Property is being sold at the lump sum purchase price hereunder stipulated and any
discrepancy in its actual area and the area indicated in this Contract or in the brochures and/or price list for the
Project shall not serve to increase or decrease the lump sum price herein stipulated. The purchase price is
established principally on a per unit basis and not on the unit measurement or dimension.
(c)
Subject Property shall be delivered unfurnished. The appliances and furniture and other details
indicated in the plans are for illustration purposes only and are not included in the sale.
2.
PURCHASE PRICE AND TERMS OF PAYMENT - (a) The lump sum purchase price of
Subject Property is TWO MILLION PESOS (P2,000,000.00) in Philippine Currency, and shall be payable in
accordance with the following terms:
(i)

The amount of P1,000,000.00 shall be payable on November 01, 2013;

(ii)

The balance of P1,000,000.00 shall be payable on or before June 20, 2014.

(b)
SELLER may at anytime, at its option, require that BUYERs obligation to pay any portion of
the purchase price be evidenced by promissory notes or postdated checks to be issued by BUYER in favor of
SELLER. SELLER is hereby empowered to assign the promissory notes or postdated checks issued by BUYER
covering the balance of the purchase price in favor of any banking institution and BUYER hereby consents and
warrants to execute all acts and deeds necessary to enforce such assignment.
(c)
All payments shall be made on or before their respective due dates without the necessity of
demand or legal or judicial action. Failure to make any such payment on time shall entitle SELLER to charge
penalty interest thereon of three percent (3%) per month, with a fraction of a month counted as one month,
without prejudice to other remedies available to SELLER.
(d)
Unless otherwise specified by SELLER in writing, all payments shall be made at its principal
office at the No. 330, Legarda Street, Madaluyong City, by cash, or crossed check payable to SELLER.
(e)
BUYER agrees that SELLER has the option to apply BUYERs payments under this Contract
to BUYERs obligations in the following order: 1. penalty 2. interest 3. SELLERS advances for taxes,
association dues, etc., 4. principal of whatever obligation is due.
3.
TITLE AND OWNERSHIP OF SUBJECT PROPERTY - (a) SELLER shall execute the
Deed of Absolute Sale conveying to BUYER all its title, rights and interest in Subject Property hereof only after
all of the following shall have been complied with:
(1) Full payment of the purchase price and all interest and penalties, if any, which may

have accrued thereto;

(2) Performance by BUYER of all his other obligations in this Contract;

(b)
The title, right and interest that will be conveyed to BUYER over Subject Property shall be
subject to, and BUYER agrees to be bound by, the Articles of Incorporation and By-Laws of the Homeowners
Association for the Project, zoning regulations or such other restrictions on the use of the Project as may be
imposed by governmental and other authorities having jurisdiction thereon and such other restrictions, easements
of record, and the rules, regulations, and guidelines to be issued by the Homeowners Association and/or the
Developer.
(c)
The creditable withholding tax due on the sale of Subject Property to BUYER shall be for the
account of SELLER. The documentary stamp tax, registration fee, business tax, tax on real property transfer, all
necessary taxes, fees and expenses connected with the execution and registration of the Deed of Absolute Sale as
well as the transfer and issuance of the corresponding transfer certificate of title over Subject Property, and all
other taxes that may now or hereinafter be imposed in connection with the acquisition of, and transfer of title to,
Subject Property shall be for the account of BUYER.
4.
TURN-OVER OF SUBJECT PROPERTY - Possession of SUBJECT PROPERTY shall be
delivered to BUYER upon execution of this Contract and delivery of the postdated checks or by payment in cash
covering the balance of the Purchase Price as required under Section 2(a) hereof. Immediately thereafter, the
risk of loss or damage to Subject Property shall pertain to, and all obligations, assessments, association dues and
taxes accruing on Subject Property shall be for the account of, BUYER, notwithstanding the fact that title may,
by then, not have been transferred to BUYER.
5.
PROPERTY TAXES, INSURANCE AND OTHER ASSESSMENTS - (a) Real estate taxes
and other assessments that may be levied on Subject Property for the year during which Subject Property is
delivered to BUYER shall be prorated between SELLER and BUYER such that the latter will be liable only for
all taxes and other assessments accruing from the date of delivery of Subject Property to BUYER up to the end
of the year. Should BUYER fail to pay the corresponding taxes pertaining to him, including such charges and
penalties in case of delinquency, SELLER may, at its option, advance the payment of the same and any amount
so advanced by SELLER shall be considered an obligation due and demandable from BUYER.
6.
DEFAULT (a) Should BUYER be in default in the payment of any of BUYERS
obligations under this Contract, such as but not limited to the purchase price or any part thereof, penalty, interest,
taxes, and assessments accruing on Subject Property, SELLER shall be entitled to exercise any of the following
alternatives: (1) to enforce the payment in full of BUYERs obligations under this Contract and charge a penalty
of three percent (3%) per month from date of default until all of the accrued and overdue obligations of
BUYER are fully paid; or (2) rescind and cancel this Contract without the necessity of judicial action and forfeit
all payments made by BUYER on the purchase price of Subject Property, together with BUYERs rights and
interest to all the improvements made on Subject Property, if any.
2

(b)
In case of such cancellation or rescission of this Contract for nonpayment in accordance with
the preceding paragraph, SELLER is hereby authorized and empowered to take immediate possession of Subject
Property, together with the existing improvements thereon, if any. SELLER shall then have the liberty to dispose
of and sell Subject Property together with all the improvements thereon and appurtenances thereto, if any, to any
other person in such manner as if this Contract had never been executed or entered into. Upon such cancellation
or rescission, BUYER shall immediately remove at her own expense all furniture and fixtures which may have
been placed in Subject Property; otherwise the same shall form part of and be considered attached to Subject
Property and shall become the property of SELLER without obligation on the part of SELLER to indemnify
BUYER for the value thereof. Fixtures and improvements which are permanent in nature or which cannot be
removed without causing damage to Subject Property shall, however, be considered part of Subject Property and
should not be removed from Subject Property. Should BUYER or any of his privies or successors-in-interest,
after such rescission or cancellation, continue to be in possession of Subject Property, such person shall become
a mere intruder or in unlawful detainer of the same, without any further right, title, interest or claims of any kind
or character to Subject Property and the improvements, if any.
7.
OTHER PROVISIONS - (a) This Contract shall not be considered as changed, modified or
altered by acts of tolerance on the part of SELLER unless such changes, modifications or alterations are in
writing and signed by both parties.
(b)
This Contract states the entire agreement between the parties and SELLER is not and shall not
be bound by any stipulations, representations, agreements, or promises, oral or otherwise, not contained in this
Contract.
(c)
Should SELLER seek relief in Court for the enforcement of this Contract or any of the
documents hereto attached, the parties hereby agree to submit to the jurisdiction of the proper court of
Mandaluyong City and hereby waive any other venue.
(d)
If there are two or more buyers under this Contract, the obligations mentioned herein are
deemed contracted by BUYERS jointly and severally.
(e)
All notices and correspondence of any nature sent to BUYER at the latters address specified
herein shall bind him/it unless prior written notice of change of address has been received by SELLER.
(f)
Should any part of this Contract be declared null and void by the courts, the nullity thereof shall
not affect the rest of the provisions of this Contract which shall remain valid and binding.
(g)
Pursuant to Section 35 of the Standards, Rules and Regulations issued by the National Housing
Authority implementing Presidential Decree No. 957, the broker/salesman who negotiated the sale hereof has
signed as one of the witnesses to this Contract.
IN WITNESS WHEREOF, the parties hereto have hereunto signed this Contract to Buy and Sell on the
date and at the place first above written.

CHILL LANG REALTY AND DEVELOPMENT CORP.

(SELLER)

JACK DIMAGIBA
(BUYER)

By:
CAROL LEE
(President)

Signed in the presence of :

_________________________

_________________________

ACK N OWLE D G M E NT
Republic of the Philippines)
City of Mandaluyong
) S.S.
BEFORE ME, a Notary Public for and in Mandaluyong, Philippines, this 1 st day of November, 2013
personally appeared:
Name

Competent Evidence of Identity and

C.T.C. NO.

1. Carol Lee
SSS ID No. 30-456623416
in his capacity as President
of Chill Lang Realty And Development Corp.
2. Jack Dimagiba

Passport No. EB2503221

DATE/PLACE OF ISSUE
Philippines

05/20/2013-05/19/2018
DFA-Manila

known to me and to me known to be the same persons who executed the foregoing instrument and each
acknowledged the same as his/her own free and voluntary act and deed as well as the corporation(s) herein
represented.
I FURTHER CERTIFY that this instrument consist of four(4) pages including this page where the
Acknowledgement is written, signed by the parties and their instrumental witnesses on the appropriate spaces
provided above on the lefthand margins of the other page and is a Contract to Buy and Sell for subdivision
townhouse-unit in the Brgy. Wack Wack, Mandaluyong City, Metro Manila, Philippines.
WITNESS MY HAND AND NOTARIAL SEAL.

Atty. Azucena Tatum II

Notary Public
PTR No. 834360789 01/05/14, Mandaluyong City
IBP Life Member Roll No. 06267, Mandaluyong City
Roll of Attorneys No. 58366
MCLE Compliance No. II 917834; 03/15/2013

Doc. No. 85;

Page No. 400;
Book No. 200;
Series of 2013.