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-and-
WITNESSETH:
WHEREAS, the vendor is the owner of the subject lot covered by TCT 516707,
particularly described as follows;
NOW, THEREFORE, for and in consideration of the foregoing premises and the sum of
FIVE HUNDRED THOUSAND PESOS (PhP 500, 000.00) Philippine Currency,
payable in the manner stated below, the VENDOR hereby agrees to SELL, CEDE,
TRANSFER, and CONVEY to the BUYER, his/her successor/s-in-interest, and/or
assigns the above-described PROPERTY by way of Deed of Conditional Sale (DEED)
and on an AS IS, WHERE IS basis, subject to the following terms and conditions.
SECTION 1. CONSIDERATION
Sec. 1.1 Amount. The VENDEE undertakes and agrees to pay the VENDOR or its
successors-in-interest or assigns the purchase price of FIVE HUNDRED
THOUSAND PESOS (PhP 500, 000.00) Philippine Currency
Sec. 2.1. The VENDEE in able to facilitate the transfer and registration of the
subject lot, shall pay the FULL AMOUNT of the mortgaged property with the
Rural Bank of Montalban. Upon payment of the mortgaged price, the VENDOR
shall execute and Absolute Deed of Sale in favour of the VENDEE to assume full
ownership over the subject lot.
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SECTION 3. PAYMENT OF TAXES and AMORTIZATION
The VENDEE binds himself to pay the real estate taxes and special taxes
levied or that may be levied on the PROPERTY subject of this DEED
during the time the same is in force, when they become due and payable
or within the period provided by laws whereas the VENDEE must pay in
full the amortization required by the Rural Bank of Montalban in the
amount provided for in the Statement of Account upon receipt of the
consideration price. It is understood that failure of the VENDEE to submit
to the VENDOR or its assignee the Official Receipt for said payment shall
be prima facie evidence that the VENDEE failed to pay the mortgage on
or before the due date.
Sec. 4.1 Possession. The VENDEE may still allow the VENDOR to occupy and take
physical possession of the PROPERTY subject of this DEED after payment
of the expenses incidental to this DEED which shall include amortization
and fees for the registration of this DEED with the Register of Deeds.
Sec. 5.1. The VENDEE shall manage and administer the PROPERTY subject of this
DEED for all intents and purposes and his/her right to the possession
thereof shall continue as long as the terms and conditions of this DEED
are faithfully complied with.
Sec. 6.1 Ownership. The Title to the PROPERTY shall be transferred with the
VENDEE upon execution of the final Deed of Absolute Sale to be prepared
by the VENDEE after full and faithful compliance by the VENDOR of all
the terms and conditions of his DEED. The actual transfer shall be made
after the execution of an Absolute Deed of Sale in favour of the VENDEE.
Sec. 6.3 Free access. The VENDOR shall not obstruct or interfere with the
inspection or survey of the property which VENDEE or its
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assignee or any of its duly authorized representatives may
conduct from time to time.
Sec. 6.4 Warranty. The VENDOR warrants in full the truth of the representation
made in their offer for the purchase of the PROPERTY subject
hereof, and any falsehood stated therein shall be sufficient ground
for the cancellation or rescission of this DEED.
Sec. 6.5 Non-waiver. Failure by the parties to enforce strictly the provisions of this
DEED or to exercise any right, remedy or privilege hereunder
with respect to any violation by the other party shall in no case be
interpreted as a relinquishment thereof by the prejudiced party.
___________________________
_______________________________________
Vendee Vendor
_____________________________________
_____________________________________
ACKNOWLEDGMENT
I certify that on this ________ day of __________ 2017, before me, a notary public
duly authorized in the city named above to take acknowledgements, personally
appeared the following:
_____________________ _____________________
_____________________ _____________________
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This Contract of Lease consisting of four (4) pages, including this
Acknowledgment, has been signed on each and every page by the parties and their
instrumental witnesses.
IN WITNESS WHEREOF, I hereunto set my hand and affix my notarial seal on
the date and at the place above written.