CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENT:

This DEED made and executed by and between:

__________________________________________________ a corporation duly organized and existing under and
by virtue of the laws of the Philippines. With the principal office at ________________________________
represented in this Agreement by its ____________________________________ now and herein after referred to as
the VENTOR.
-and-
_____________________________________________________________________________________________
_____________________________________________________________________________________________
now and herein after referred to as the “VENDEE”.

WITNESSETH:

WHEREAS. The VENDEE offers buy from the VENDORS a certain condominium unit/ parcel of land and a
residential unit standing thereon including all the improvements thereto using his housing loan privilege as a PAG-
IBIG member to finance the purchase said housing unit through the Home Development Mutual Fund (HDMF)
Housing Loan Program.

WHEREAS. The VENDEE is a PAG-BIG member in good standing has remitted the required monthly
contributions and is currently a contributing member.

WHEREAS. The VENDOR has agreed to sell the VENDEE, subject to the approval and final release of the
latter’s housing loan application with the HDMF, a certain condominium unit/ parcel land and a residential unit with
all the improvements existing thereon situated at _____________________________________ City/Municipality of
______________________________ Province of _________________________________. Covered by the
condominium/ Transfer Certificate of title number. ________________________________ of the register of Deed’s
of _____________________. And more particularly described and bounded as follows.

TECHNICAL DESCRIPTION

Of which condominium unit/ parcel land and a residential unit together with all improvements existing thereon. The
VENDOR is the absolute owner.
NOW, THEREFORE, for and in consideration of foregoing premises and the sum of
______________________________________ PESOS (P _____________________________________ )
Philippine Currency, payable in the manner stated below, the VENDOR hereby agrees to SELL, CEDE,
TRANSFER and CONVEY to the VENDEE. His successor/s –in-interest, and assigned the above –described
condominium unit/ / parcel land and a residential unit together with all improvements existing thereon, subject to the
following terms and conditions:

SECTION 1. CONSIDERATION

Section 1.1 The VENDEE undertake/s and agree/s to pay to the VENDOR at
_______________________________ to its successors/s-in-interest or assign/s the following:

A. EQUITY in the amount of __________________________________________________________PESOS

(p ______________) plus legal and miscellaneous fees in the amount of ______________________________
________ PESOS (P ________________) all in the Philippine Currency-pursuant to the terms and conditions of
the Reservation Agreement executed between the VENDOR and the VENDEE.
B. And the BALANCE in the amount of _____________________________________ Pesos Philippine
Currency. Shall paid through a housing loan with the Home Development Mutual Fund (HDMF popular
known as the Pag-IBIG Fund). Pending the approval of the loan and the eventual assignment of this
Contract to Sell in favor of the HDMF. The VENDEE agrees to comply strictly with the terms and
conditions of this Contract and to pay the VENDOR the aforesaid balance in accordance with the projected
monthly installment in amount of ___________________________________PESOS
____________________ %) per annum. In case the VENDEE fails to pay the full monthly amortization
and/or other loan obligations when due. a penalty of one-twentieth of one percent (1/20 of 1%) of the
amount due shall be imposed for every day of delay unit full settlement thereof. All monthly installment
collected/paid to the VENDOR shall be accounted and remitted to the HDMF upon final take put of the
housing loan. Payments in excess of the actual monthly installment upon take out shall be credited to the
account of the VENDEE, while deficiency. if any, shall be billed and collected together with the regular
monthly installments.
Monthly payments shall commerce on ______________________________ with subsequent payment
beginning on ____________ and every ________________ day of each month thereafter over the contract
term.
Section 1.2 Premiums for fire and Sales Redemption Insurance and other fees which may be paid on a monthly basis
by the VENDEE over the contract term shall not be refunded in the event of default pursuant to R.A 6552 and
Section 2 of this Contract.

Section 1.3 Upon take but or payment of the term proceeds to the VENDOR. the VENDEE undertake/s to
continuously pay his monthly Pag-IBIG membership contribution without need of notice or demand.

SECTION 2. DEFAULT PROVISIONS

Section 2.1. If for any reason whatsoever. the VENDEE fails to pay any three (3) consecutive monthly installments
which Is inclusive of the sixty (60) calendar days grace period provided lot in Section 4 of R. A 6552 the buyer shall
be considered In default.

In cases where the VENDEE has paid less than two (2) years of installments and has failed to pay any installment
when due. the VENDEE shall be granted a grace period of ‘not less than sixty (60) calendar days from the date the
installment payment became due and payable within which to pay the installment and/or make payments in areas
together with the installments corresponding to the month of the period. In the event the VENDEE fails to pay the
installments in areas and /or to make the payment within or at the expiration of the grace period herein provided.
The VENDEE is considered in default. In such a case, the VENDOR may cancel this Contract and cancellation
shall be effective after thirty (30) days from receipt by VENDEE of the notice cancellation or demand for rescission
of this Contract by a Notarial Act in accordance with the Civil Code and R.A 6552 (Maceda Law). Theater, the
VENDOR or its assignee may dispose of the property covered by this Contract in favor of other persons as if this
Contract has never been entered into.

Section 2.2 The provision herein contained shall be without prejudice to the right of the VENDEE to sell and
transfer his/her/theirs rights and interest under this Contract to other qualified Pag-lBlG Fund member within the
grace period and before actual cancellation of this Contract in accordance With the provisions of R. A. 6552
Provided however that the transferee or assignee is as stated, qualified to acquire the housing unit under existing
policies rules and regulations of the Pag-IBIG Fund in whose favor the house and lot subject on this Contract is
assigned.

Section 2.3 Should the VENDEE, after the housing loan has been taken out. refuses or fails to comply with other
terms and conditions stipulated herein. this Contract shall be deemed canceled or rescinded and all payment made
hereunder shall be governed by and subject to the applicable provisions of R.A. 6552. A thirty (30) day notice from
receipt of the demand for rescission or cancellation of the. Contract by Notarial Act in accordance with the Civil
Code and R.A. 6552. shall be sufficient and in such case, the VENDOR or its assignee may dispose of the property
covered by this Contract in favor of other persons as if this Contract has never been entered into. Thereafter, the
VENDEE shall be heated as tenant holding the premises without permission and shall peacefully vacate the same
and the VENDOR or its assignee may immediately repossess the premises Should it become necessary to resort to
any legal action to recover possession of said property the VENDEE hereby obligates himself to pay the costs and
attorney's fees. which shall constitute as liens on all real and equitable rights thereto. The remedy provided under
this Contract shall not. however. be exclusive of any other remedy that the VENDOR or its assignee may avail of.

Section 2.4 Failure of the VENDOR or its assignee to enforce strictly the provisions of this contract 01 to exercise
any power /privilege or right granted to the VENDOR or its assignee with respect to any violation of the terms and
conditions of this contract with respect to any of the above mentioned default. shall in no case be interpreted as a
relinquishment by the VENDOR or its assignee of any of its other rights herein contained in case of any subsequent
default on the part of the VENDEE.

SECTION 3. PAYMENT OF TAXES

Section 3 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 Contract during the time the same is in fo1ce. when they become due and payable, or
within the period provided by laws including the corresponding surcharges and penalties in case of delinquency. The
VENDEE shall submit to the VENDOR the Official Receipt as proof of payments within t1ttcen (I5) days from the
date when such payment was made. The VENDOR or its assignee may make the payments but in which case. the
latter has the right to charge on any amount it has so paid the same rate 01‘ interest as stipulated in Section 1.1
herein, item the tune aid payments were made. until the same is reimbursed by the VENDEE. if the VENDEE fails
to satisfy the same. the VENDOR shall haves the right granted to it by Section 2.3 of this Contract regarding the
cancellation or rescission of the Contract and other rights therein mentioned it being understood that failure of the
VENDEE to submit to the VENDOR or its assignee the Official Receipt for said payment within the period
stipulated. shall be primary evidence that the VENDEE failed to pay the taxes on or before the due date thereon.

SECTION 4. OCCUPANCY AND POSSESSION

Section 4 Occupancy and possession by the VENDEE of the housing unit shall be made within seven (7) days after
written notice thereof has been served Failure thereof the lapse of the agreed period shall be deemed and considered
as constructive acceptance of the housing unit. In such event. the VENDEE shall hold the VENDOR and its
assignee free and harmless from any and all liabilities ar151ng from any loss damage or deficiency occasioned by
theft/robbery and the like including construction defects of the unit.

SECTION 5. MANAGEMENT AND ADMINISTRATION

Section 5 The VENDEE shall manage and administer the property subject of this Contract. for all intents and
purposes as he is/are the owner/s thereof and his right to the possession thereof shall continue as long as the terms
and conditions of this Contract are faithfully complied with by the VENDEE. The VENDEE agree/s to keep all the
improvements existing on the land in good condition and in order during the lifetime or term of this Contract.
Should the VENDEE fail to keep the existing improvements on the land in good conditions during the lifetime or
term of this Contract. the VENDOR or its assignee or their duly authorized agent shall have the right to enter upon
the property and make all necessary repairs. and the total cost of the same. as certified by the VENDOR or its
assignee. plus ten percent (10" 0) cost of supervision. shall be charged against the VENDEE which shall be paid
within thirty (30) days from date of demand; and if the said amount including the ten percent (10° 0) cost of
supervision is not paid within the said period. the same shall be charged interest at the same rate as stipulated in
Section I 1 herein until fully paid and shall be considered as part of the purchase price and subject to all provisions
pertaining thereto.

SECTION 6. INSURANCE COVERAGE

The VENDEE shall be covered by the following insurances:

I. Sales Redemption Insurance (SRI) -This insurance. which covers risk in case of death of the VENDEE. is
subject to the schedule of insurance in the HDMF Master Policy.

2. Fire Insurance - The VENDEE shall obtain tire on the property for an amount equivalent to at least the contract
value of the residential unit and/or its improvements unit and/or its improvements.

SECTION 7. HOUSE ACCEPTANCE

Section 7 The VENDEE. prior to his/her/their occupancy of the housing unit (house and lot.) and as a condition to
the turn over and deliver) of the keys of the house. shall execute and sign the checklist of the house. as proof of
satisfactory acceptance thereof. Any claim for defects in the construction or deviation from plan and specifications"
shall be made within thirty (30) days from date of occupancy of the housing unit: failure to notify the VENDOR or
its assignee in writing of the aforesaid defect within the said period shall constitute waiver and shall be understood
and considered to have been caused after occupancy of the said housing unit:

SECTION 8. WATER AND POWER DIS’I‘RIBU'I'ION SYS'I EM

Section 8 The water distribution system in this subdivision is owned and operated by a corporation separate and
distinct from that of ________________________________________________________.
Section 8:1 The water system is being metered for the account and expense of the VENDEE. whether at the outset
or subsequently after actual occupancy: hence. the VENDEE agrees and binds himself to pay his monthly water
bills at the rates approved or authorized by __________________________________________The owner and
operator or the water system shall have the right to enter the premises anytime during office hours in the exercise of
its right to enforce compliance by the VENDEE with the foregoing conditions and to disconnect the water service in
case of failure of the V ENDEE to timely pay the water bills.

Section 8.2 Should-the housing unit purchased under this Deed he located in the portion of the subdivision where
regular power is still not available and the VENDOR or its assignee provides temporary electrical power and
facilities. the VENDEE agree/s to pay in advance to the said VENDOR or its assignee a flat rate of
__________________________________ (P _____________________________) per month or through metering
until power lines have been full) installed.

SECTION 9. EXECUTION OF DEED OF ABSOLUTE SALE AND CONVERSION TO REAL ESTATE

MORTGAGE (REM)

Section 9.1 The VENDOR shall execute in favor of the VENDEE or his heirs. successor/s or assigns a Deed of
Absolute Sale of the aforementioned hind ' and dwelling/improvements at point of conversion of CTS to Real Estate
Mortgage. Thus. the Loan and Mortgage Agreement (LMA) shall be duly signed and executed by the VENDEE in
favor of the Assignee. Such DOAS shall contain the conditions in Sections 10.1 (a) to 10.1 of this Contract. The
DOAS and DMA shall be annotated in the corresponding Certificate of Title as encumbrances of the property.

Section 9.2 The VENDOR shall convert. at the option of the Assignee. this Contract to Real Estate Mortgage on the
l8th month from the date of loan takeout. Processing of the annotation of the REM. shall be undertaken by the
VENDOR.
 SECTION 10. MISCELLANEOUS PROVISIONS

Section 10.1 (a) The VENDEE shall purchase the subject property and \with all improvements for his own use.
occupancy. and benefit and not for speculation or use. occupancy. and benefit of any other party. The VENDEE
shall use the property herein described for residential purposes only and no business or industry shall he allowed
thereon except home industries which do not cause any noise. or emit smoke or offensive odor. Work animals. pig.
goat. sheep or fowl shall not be kept and/or raised on the premises.

(b) The VENDEE shall not cut down. damage. injure or remove any tree or shrub. either ornamental or fruit bearing
and already existing at the time of occupancy. or remove or quarry any stone. rock or earth within the lot described
in this Contract without obtaining the prior written consent of the VENDOR or its assignee. The lot shall be kept
clean by the VENDEE at all times.

( c) The VENDEE shall not make or permit any construction or alteration on the premises. subject of this Deed.
unless prior written consent has been obtained from the VENDOR or its assignee. The building plans of the house
or additional construction to be made by the VENDEE in the premises shall be subject to the prior written approval
of the VENDOR or its assignee.

(d) The VENDEE shall upon acceptance of the housing unit. automatically become a member of the Homeowners
Association. a non-stock. non-political organization. organized purposely for the proper operation and maintenance
of community facilities. sanitary collection of garbage. security. lire protection. enforcement o f restrictive
easements and in general. for promoting the common benefit of the residents therein. and to remain as such while in
possession of the property:

The VENDEE agree/s to be bound by the Articles of Incorporation and By-Laws of the Association and such other
reasonable rules and regulations promulgated or which may be promulgated from time to time by the Association or
its governing body. Unpaid association dues and other lawful assessment shall constitute a lien or encumbrance on
the property second only to the lien in favor of the HDMF. which may be annotated on the title by the association
by tiling the requisite affidavit with the Register of Deeds such that the Association or its duly constituted governing
body is hereby appointed attorney ~in-fact authorized and empowered in accordance with law to effect said lien or
encumbrance.

(e) The VENDEE shall not obstruct or interfere the VENDOR or its assigned or any of its duly authorized
representatives to inspect. survey. repair. lay water pipes. construct sewerage systems, gas, electric and telephone
lines or other work of similar purposes: and

(f) The VENDEE warrant/s in full the truth of the representation made in the application for the purchase of the
property subject hereof. And any falsehood stated therein shall be sufficient ground for the cancellation or rescission
of this Contract.

Section 10.2 This Contract-to-Sell is subject to the provisions of the Deed of Assignment with Special Power of
Attorney which shall be executed by the VENDOR in favor of the Home Development Mutual Fund or Pag-IBIG
Fund. and that the VENDEE has given his expressed consent to said assignment by virtue of this Contract-to-Sell.

SECTION 11. REPEALING CLAUSE

Section 11 Should any of the terms and conditions stipulated on the Contract-to-Sell previously executed between
the VENDEE and the VENDOR. be inconsistent or in conflict with this Contract. the same shall be deemed-
repealed or modified accordingly provided that the remaining terms and conditions not inconsistent or in conflict
shall continue to be in full force and effect

IN WITNESS, the PARTIES hereto have hereunto affixed their signatures this ___________ day of
______________________________________ at ___________________________________

VENDEE VENDOR

By:
_______________________________ _______________________________

_____________ No. ______________ _____________ No. ______________

Date of Issue ____________________ Date of Issue ____________________
Place of Issue Place of Issue
With my martial consent:
____________________________
VENDEE
SIGNED IN THE PRESENCE OF:
___________________________ ____________________________
 ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
PROVINCE/CITY OF __________) S.S

BEFORE ME, A Notary Public for and in the _________________________, Province of ____________ this
_____________ day of _________________.20_________ personally appeared above-named persons. Who have
satisfactory proven to me their identity through their identifying documents written below their name and signature.
That they are same person who executed and voluntarily signed the foregoing Contract to Sell which they
acknowledged before me as their fee and voluntary act and deed. That they are acting as the representative of
__________________________________ (Vendor) has the authority to sign in such capacity by virtue of a Broad
Resolution/Security’s Certificate.
The foregoing instrument relate to a Contract-to-Sell consisting of four (4) pages including the page on
which this acknowledgment is written. Has been signed on the left margin of each and every page by the parties and
the witness.

WITNESS WITH MY HAND AND NOTARIAL SEAL.

Doc. No. ___________.

Page No. ___________.
Book No.___________.
Series of ___________.
 CONFORMITY TO ASSIGNMENT OF THE CONTRACT-TO-SELL
I/We _______________________________________________________________________________________,
Filipino/s, of legal age, singe/married, and residing at ________________________________________________
___________________________________________________________________________________________
After having been duly sworn to in accordance with, depose and say;
1. That I/we am/are the applicant/s of buyer/s of a housing unit identified as Type _____________ Lot
No._______________ located at ____________________________________ and a part of the subdivision
known as ____________________________________________________________________________.
2. That I/we hereby manifest that I/we have given as I/we hereby give my/our conformity to assignment by
_______________________________________ of its rights, title and interest over said house and lot to
the Home Development Mutual Fund (PAG-IBIG) and I/we herby agree to pay the monthly installment for
the said house and lot in accordance with the provisions of the Contract to Sell dated ________________
and continue paying the monthly installment thereafter until the obligation is fully paid or until otherwise
ordered in writing by the Home Development Mutual Fund (HDMF).

______________________ _________________________
Member-Buyer Spouse

ATTESTED
MYRA S.D SALVADOR
SDSD MANAGER
__________________________
(Official Authorized to sign for and
in behalf of the Developer)

REPUBLIC OF THE PHILIPPINES)

MUNICIPALITY ) S.S
PROVINCE OF

SUBSCRIBED AND SWORN TO BEFORE ME this __ _________________ day of

______________________, ____________________, affiant/s exhibiting to me his/her/their Community Tax
Certificate/s issued at the place/s and on the date/s stated hereunder.

NAME CTC NUMBER PLACE/DATE ISSUED

Doc. No. ___________.

Page No. ___________.
Book No. ___________.
Series of ___________.
 CERTIFICATE OF ACCEPTANCE

I/we, ___________________________________________, Filipino/s, of legal age, single/married, and

residing at _________________________________________________________________________________
after having been duly sworn to in accordance with law, depose and say;
1. That i/we am/are the applicant/s or buyer/s of a housing unit identified as Type ________________
Lot No. _________ Block No. _____________ located at _________________________________
and a part of a subdivision known as __________________________________________________;
2. That I/we have inspected the foresaid housing unit and have found it to be complete, livable and
constructed in accordance with the drawings, plans, and specifications, as approved by the housing and
Land Use Regulatory Board and other regulatory agencies;
3. That I/we have on this __________________ day of ________________ accepted the said housing
unit to my/our entire satisfaction;

_______________________ _______________________
Member- Buyer Spouse

ATTESTED
MYRA S.D SALVADOR
SDSD MANAGER
__________________________
(Official Authorized to sign for and
in behalf of the Developer)

REPUBLIC OF THE PHILIPPINES)

MUNICIPALITY ) S.S
PROVINCE OF

SUBSCRIBED AND SWORN TO BEFORE ME this __ _________________ day of

______________________, ____________________, affiant/s exhibiting to me his/her/their Community Tax
Certificate/s issued at the place/s and on the date/s stated hereunder.
NAME CTC NUMBER PLACE/DATE ISSUED

Doc. No. ___________.

Page No. ___________.
Book No. ___________.
Series of ___________.
 DEED OF ASSIGNMENT OF CONTRACT TO SELL WITH
SPECIAL POWER OF ATTORNEY
(with Buyer`s Conformity)

KNOW ALL MEN BY THERE PRESENTS:

That this Deed of Assignment made and executed by:
___________________________________________ a corporation duly organized and existing
under and by virtue of the Philippine laws, with principal office _______________________________
____________________________________ represented in this Act by its ________________________,
_________________________________, hereinafter referred to as the ASSIGNOR.

- In favor of –
The HOME DEVELOPMENT MUTUAL FUND (otherwise known as the Pag-IBIG FUND), a government
financial institutions organized and existing under and by virtue of Republic Act No. 9679, with principal office at
the Petron MegaPlaze, No. 358 Sen. Gil Puyat Avenue, Makati City, represented in this Act by its ______________
__________, _________________________, hereinafter referred to as the “ASSIGNED.’’

- With the conformity of -

____________________________, of legal age, Filipino, single/married to ____________________________ and
with residence and postal address at ______________________________________________________________,
hereinafter referred to as the BORROWER-BUYER.

WITNESSETH:

WHEREAS, the PARTIES here to have interest into a Memorandum of Agreement of dated___________
More particularly referred to as Doc. No. ____________, Page no. ___________, Book No. ___________ Series of
_________ of the Notarial Register of Notary Public, ___________________, whereby the ASSIGNEE has
accredited _______________________________, a project of the ASSIGNOR, for participation under the `
ASSIGNE` S End User Home Financing Program.

WHEREAS, all the condominium units/individual lots including the improvements thereon situated in the
Project are owned by and registered in the name of ASSIGNOR who has full authority to mortgage, to enter into
conditional purchase or contract to sell with PAG-IBIG members-buyer and/or to assign said Contract to Sell.

WHEREAS, the BORROWER-BUYER was among those whose housing loan applications were
approved by the ASSIGNEE under the prevailing Guidelines of its Housing Loan Program;

WHEREAS, pursuant to the aforesaid Memorandum of Agreement, the PARTIES have agreed that upon
loan take-out, the amount equivalent to the loan value of residential property subject of the Contract to Sell (CTS)
executed between the ASSIGNOR and the BORROWER-BUYER shall be released by the ASSIGNEE to the
ASSIGNOR and the payment thereof, during the two-year or three year guaranty period, as the case may be, and
pending conversion of the said Contract to Sell in the favor of the ASSIGNEE.
NOW, THEREFORE, for and n consideration of the foregoing premises and as security for the payment
of the housing loan of the BORROWER-BUYER in the amount of ______________________________________
(P ______________________), Philippine Currency, as well as th covenants, sgreements, and stipulations
hereinafter provided, the ASSIGNOR by theses presents does hereby assign, transfer and convey unto the said
ASSIGNEE, its successor-in-interest, and assign, all its rights, interest and participation in and to , but excluding
its obligations, under the Contract to Sell Dated_____________ executed between the ASSIGNOR and the
BORROWER-BUYER, specifically referred to as Doc. No._____, Page No. ______, Book No. ______, Series of
______ of the Notarial Register of Notary Public, __________________________________________, a copy of
which is hereto attached and made an integral part of hereof, as Annex “A” involving a parcel of land together with
the housing unit constructed thereon or that condominium unit situated in the _________________________Project,
more particularly described as follows:

as well as all the receivables appertaining thereto under the following terms and conditions:
1. The BORROWER-BUYER shall pay and remit the monthly installment directly to the ASSIGNEE or
through its accredited collecting banks/agents in accordance with the terms and conditions of the Contract
to Sell mentioned above; or if there is a Collection Servicing Agreement (CSA) executed between the
ASSIGNOR and the ASSIGNEE, all monthly installments collected/paid to the ASSIGNOR shall be
accounted and remitted to the ASSIGNEE pursuant to the provisions of the said CSA, for application to
the obligation of the BORROWER-BUYER with the ASSIGNEE. The ASSIGNOR shall keep the
proceeds of the sale collected separate from its own funds or properties and in trust for the ASSIGNEE
with the obligation to remit/deliver the same to the ASSIGNEE within the period in the CSA,

2. It is expressly agreed that this Assignment shall not produce the effect of payment except in respect of and
only to the extend f the amount collected or received by the ASSIGNEE. By virtue of or in relation to the
rights and authority established in favor of the ASSIGNEE under this DEED;
3. The ASSIGNOR hereby undertakes to convert the Contract to Sell (CTS) covering the above-described
residential property into a Real Estate Mortgage (REM) before the lapse of the two-year or three year
guaranty period, whichever is applicable, and all expenses for the conversion of the CTS to REM which
includes payment of all taxes as well as expenses for the execution of the Deed of Absolute Sale in favor of
the BORROWER-BUYER shall be for the account of the ASSIGNOR;

4. This assignment shall be subject to the terms and conditions of the Memorandum of Agreement mentioned
in the first WHEREAS clause hereof and/or any other documents which the ASSIGNEE may require the
ASSIGNOR/BORROWER-BUYER to execute as evidence of the aforementioned obligation which shall
form an integral part of this Deed by reference.

5. In the event the ASSIGNOR violates any of the terms or stipulations of or commits a breach of warranties
under the Memorandum of Agreement mentioned above, the ASSIGNOR shall pay back the corresponding
buy pack value of the CTS account subject of this Deed, pursuant to the buy guaranty provisions of the said
Memorandum of Agreement.

6. Effective upon the occurrence of any of the following circumstances:

6.1 Full payment of the housing loan amortizations of the borrower and the ASSIGNOR is no longer
existing or in operation; or
6.2 Breach of any of the warranties under the aforesaid Memorandum of Agreement by the ASSIGNOR,
specifically the failure or refusal of the said breach; or

6.3 In the event the BORROWER-BUYER defaults in the payment of his/her monthly amortizations in
accordance with the terms of the Contract-to-Sell subject of this DEED;
The ASSIGNEE or its successors and assigns, through its authorized representatives, is hereby appointed
Attorney-In-Fact of the ASSIGNOR, with full power and authority to do and perform the following acts:
a. To cause the cancellation of the above-mentioned Contract to Sell executed between the ASSIGNOR
and the BORROWER-BUYER covering the above-described property;

b. The exclusive right to sell, convey, deliver and in any manner dispose of the above described property
covered by Transfer/Condominium Certificate of Title No. ________________; and for this purpose
sign, execute and deliver the Deed of Absolute Sale or any documents of whatever kind or nature in
favor of the buyer/s, which may be necessary or proper in connection with the power herein granted;

c. To receive payments from the buyer`s in whatever form, such that, if the payments are in checks, there
is included herein the power to en cash the same, and to issue receipts for such payments;

d. To apply these payments to the obligations of the ASSIGNOR with the ASSIGNEE; and

e. To file appropriate action in court against illegal occupants on the subject property.

The ASSIGNOR hereby ratifies and confirms any and all acts that may be done by the ASSIGNEE or
its successors and assigns by virtue hereof as full to all intents and purposes as the ASSIGNOR might
or could lawfully do if personally present. This power of attorney is hereby declared to be coupled with
interest arising from this Deed and the Memorandum of Agreement mentioned herein and as such, is
exclusive and irrevocable until all the obligations secured hereby are fully paid.
7. It is the essence of this Contract, that if ASSIGNOR buys back the CTS account herein assigned or upon
conversion of the said CTS account into a Real Estate Mortgage (REM) loan, then this Deed of Assignment
with Special Power of Attorney shall become null and void of no effect.

8. The rights and remedies f the ASSIGNEE set forth in the Deed of Assignment are in addition to and not in
substitution of any other rights or remedy provided by existing laws and the covering Memorandum of
Agreement.

9. Should any of the foregoing provisions be declared unconditional, illegal or unenforceable by any
competent court, such declaration shall not in any way affect the constitutionality, legality or enforceability
of the other provisions of this Deed not affected thereby.

IN WITNESS WHEREOF, the ASSIGNOR, through its authorized representative, has signed this presents
this______ day of ________, _________ at ______________________________, Philippines.
 ____________________________________
ASSIGNOR
By:
___________________________________
(Position)
TIN: _______________________________
____________ No. __________________
Date of Issue________________________
Expiry Date _________________________
CONFORME:
____________________________
BORROWER-BUYER
___________________________
Spouse of Borrower-Buyer

SIGN IN THE PRESENCE OF:

_________________________________________ ___________________________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
_______________________________) S.S

BEFORE ME, A Notory Public for and in the ________________________________this____________

day of ______, 20___ personally appeared the above-named person, who has satisfactory proven to me his/her
identity through his/her identifying documents written below his/her name and signature, that he/she is the same
person who executed and voluntarily before me as his/her free and voluntary act and deed. That he/she is acting as
the representative of __________________________________________________________________ and that
he/she has the authority to sign in such capacity by virtue of a Board Resolution/Secretary`s Certificate.

The foregoing instrument which relates to a Deed of assignment with Special Power of Attorney consisting
of ______ (_____) pages including the page on which this acknowledgment is written, has been signed on the left
margin of each and every page by the parties and the witnesses.
WITNESS MY HAND AND NOTARIAL SEAL
Doc. No. _________;
Page No. _________;
Book No,_________;
Series of__________.
 DEED OF RESTRICTIONS

WHEREAS, VINE DEVELOPMENT CORPORATION and AXEIA DEVELOPMENT

CORPORATION, herein referred to as the SELLERS, are the owner and the developer of a subdivision project
known as VALLE VERDE DASMARINAS located at Brgy. Langkaan II, Dasmarinas, Cavite (the “project”);
WHEREAS, the BUYERS entered into a Contract to Sell with the SELLERS for the purchase of a lot
within the Project more particularly described as Blocks/Pcs. _________ lot__________ with an area of
________________ square meters, more or less (the “Lot”) together with a residential housing unit (unit);
WHEREAS, this Deed of Restrictions (“Deed”) has been issued to govern the use and enjoyment of Lot,
the Unit and the Project and in the interest of the general well-being and welfare of its homeowners;
NOW THEREFORE, for and in consideration of the foregoing premises, the BUYER accepts the
provisions of this Deed as part of the terms and conditions for the purchase of the Lot and Unit.
1. The BUYER, his heir, successor or assign, egress to become an automatic member in VALLE
VERDE DASMARINAS Homeowner’s Association (“Association”), as shall be organized by the
SELLERS. The SELLERS shall register the Articles of Incorporation and By-Laws of the Association
with the Housing and Land Use Regulatory Board (HLRB) and/or with the appropriate government
agency/(ies).

2. While absolute ownership of the Project’s facilities and utilities for security services, water supply,
street lighting, maintenance of roads and drainage and such other facilities and utilities that may be put
up for the promotion of the general welfare, health, safety and morals of the members of the
Association, shall continue to remain in the name of the SELLERS, the Association shall conduct the
affairs and activities related to the proper operation, maintenance, security and beautification of the
Lots and the Project and shall manage and maintain the aforementioned facilities, subject however to
the control and supervision of the SELLERS. It is expressly stipulated further that imposition, billing,
collection and adjustment of such fees, charges, dues and assessment for water and temporary
electrical facilities shall be exclusive prerogative of the SELLERS. In the event SELLERS continue
to provide security and utility service to the Lot owners and the Project, the SELLERS shall likewise
be entitled to impose and collect and fees thereon.

3. The BUYER, shall faithfully comply with all policies, rules and regulations, which in every instance
shall be made and promulgated by the Association with the prior written approval of the SELLERS;
sign standard contracts of such facilities and utilities and faithfully pay the fees, charges, dues and
assessments imposed for the use of such facilities and utilities. A lien shall be established in favor of
the Association and/or the SELLERS over the Lot or Lots of any member delinquent in the payment
of such fees, charges, dues and assessments and may be enforced or satisfied in the same manner as
condominium such other action as may be appropriate to ensure payment thereof.

I. USE OF LOTS:
1. The Lot shall be used for residential purpose only and shall not be used for commercial ( especially
sari-sari store) or industrial use nor for any immoral or illegal trade activity. The BUYER, shall
under no circumstance use or allow the Lot to be use as a right-of-way or as an access to any
adjoining property outside of the Project without written consent of the SELLERS. Any of this
provision shall give the SELLERS the right to rescind the Contract to Sell or other agreement for
the purchase of the Lot or, if the title has been transferred already to the BUYER, to reacquire the
Lot for the same price as it was acquired by the BUYER.
2. The Lot shall not be subdivided for any purpose.
3. Only one (1) residential house shall be constructed on a single Lot.
4. No commercial or advertising sign shall be allowed on the Lot.
5. No fighting cocks, cattle, pigs, sheep, duck, geese, roosters, rabbits, goats, snakes, or the like, shall
be maintained within the Lots, excepts domestic pets like dogs, cats and birds which may be kept,
subject to regulation and control by the SELLERS or the Association.
6. Every Lot owner shall provide in his Lot an open space for purpose of landscaping and for purpose
of easement of drainage, sewage, water and other public utilities, as may be necessary and desirable.
The Lot owner or his representative shall permit access thereto to the authorized representatives of
the SELLERS or the Association, or public utility entities concerned for the purpose of which
easement is created.
Lot are subject to an easement or setback from the property line to the building in the following
manner:
Regular Lot = Front 3.00M. Corner Lot = Front 3.00M.
All others 2.00M. All others 2.00M.
7. No wells may be dug on any Lot without the prior written approval of the SELLERS, the
Association and/or the proper government office concerned.
8. No part of the Project shall be used or maintained as dumping ground for rubbish, trash, garbage or
other materials or aggregates.
 9. No clothesline and the likes in front of the lots shall be allowed.
10. No trees other than those planted by the SELLERS will be allowed on the planning strip of the side
walk. No existing trees, whether found within or outside the Lot, shall be cut, removed, or damaged
nor shall they relocated or transferred without the written approval of the SELLERS. When all the
Lot in the Project shall been sold, and all the streets, lanes and open spaces disposed of to the
Association or to the local government unit concerned, such approval shall be secured from the
Association.

II. BUILDING AND ARCHITECTURE

1. The BUYER may opt to construct his residential house on his Lot at a cost of at least PESOS:
___________________________________________________ (__________________________).
This amount may be reviewed regularly, and adjusted by the SELLERS taking into account such
factors an inflation, cost of construction materials, aesthetic or environmental consideration, etc.
However, where two (2) or more adjacent Lots are bought and owned by the same person and utilized
as one residential space minimum construction cost herein prescribe shall be observed with respect to
the single dwelling unit constructed thereon. It is understood that the residential house must conform to
the standard building plan and designed provided for the SELLERS and/or the Association. The
complete plans and specifications thereof shall be approved in writing by the SELLERS and/or the
Association before starting construction. No residential Lot shall be used for commercial purposes,
especially as a sari-sari store.

2. No plan for the construction/improvements of a residential house on the Lot shall be approved unless
the BUYER shall have paid a construction deposit to the SELLERS and/or the Association in the sum
of __________________________________________which refundable plus required non- refundable
processing fee of _______________________________ or such other fees as may be imposed by the
SELLERS. Said deposit may be refunded to the BUYER after completion of construction and after
deducting cost of damage, if any, to the Project facilities. The construction permit, deposit shall be
forfeited if the BUYER is found to have violated any of the conditions of his construction permit,
without prejudice to any action the SELLERS may institute under circumstances. It is understood that
the construction deposit and the processing fee shall be subject to increase as may determined by the
SELLERS and/or the Association.

3. The appropriate City/Municipal Building Permit shall be obtained by the BUYER for the construction
of a residential house after the plans have been approved by the SELLERS and/or the Association. No
construction or fencing shall be started without the necessary permit from SELLERS and/or the
Association.

4. In the event the BUYER construct his house or any portion thereof on the wrong Lot, the BUYER
shall immediately remove the encroaching structure at his expense, otherwise, the SELLERS shall
immediately remove the same at the BUYER’s expense without necessity of court order and without
incurring any criminal and/or civil liability whatsoever on its part on he of its officers and employees.

5. No temporary building shack, barn or other structured shall be erected on Lot. However, adjacent
vacant Lots may be used for dumping of materials or stockpile for construction, provided that the
SELLERS are duty notified thereof and said Lots are immediately cleaned after construction of the
cost thereof against the BUYER’s house. Should the BUYER fail to do so, the SELLERS may do the
clean-up and change the cost thereof against the BUYER’s construction deposit.

6. Filling of the Lot is allowed, provided that the filling height must conform with the standard plan.
Drainage and facilities should be installed to prevent water from flowing or seeping into adjacent Lots.
All other cease of filing are subject to prior approval of the SELLERS and/or the Association.

7. The complete plans and specifications together with other requirements shall be submitted for approval
by the SELLERS and/or the Association at least thrifty (30) days prior to the start or commencement
of any construction. Any construction commenced without prior approval or permission from the
SELLERS of the Association to immediately order the stoppage of any construction activity and all
construction material and supplies for the said construction may be refused entry in Project. Further,
the BUYER agrees to construct a multiple cell septic tank with sand filter for each residential house
with plans and specifications to be approved by the SELLERS and/or the Association.

8. If the BUYER decides to change or make alterations on the approved plans and specifications after the
construction permit has been issued by the SELLERS, the BUYER must again submit to the
SELLERS and/or the Association a revised set of plans for evaluation and shall pay the corresponding
processing fee required.

9. Walls on the of a Lot shall not exceed two (2) meters from the average elevation of the curb line
fronting the street, except that no restriction as to height applies to walls made of live vegetation.
 Cyclone or mesh wire fences are permissible only at the rear and the side boundaries and must not be
higher than four (4) meters from the reference elevation.

10. No vehicular entrances or exists shall be allowed along circular, curved or street intersections.
Compliance with all existing rules and regulations of the SELLERS and/or the Association and with
existing Municipal, Provincial or National government requirements and regulations shall be the
responsibility of the BUYER.

11. The SELLERS and/or the Association shall not allow or permit construction until all association dues
and accounts outstanding or the Lot involved are update and all unpaid dues including interest and
penalties are settled.

12. In the case of row houses, duplexes and townhouses, firewalls dividing residential units are common
wall shared as structural division for adjoining units. Repairs, alterations or modification, which will
diminish the thickness or impair the strength of such wall shall not be allowed unless with the joint
written consent of the adjoining unit owners, the Association and the SELLERS. This provision is not
applicable to single detached or single attached housing units.

13. In order to maintain adequate light and ventilation for the housing units of the Projects, all future
additions or expansions shall be confined up to the second floor of two-storey houses. For row houses
(single storey), improvements shall be confined to the ground floor level only. No three-storey houses
construction and extension shall be allowed. No opening shall be allowed on firewalls along property
lines.

14. Constriction of extension, additional structure, addition or improvements frees the SELLERS from
any liability on the structural soundness of the delivered unit for whatever effect the extension,
additional or improvements may have to the original unit and its adjacent properties and automatically
waives the BUYER’s right for any warranty.

III. DRAINAGE & WATER SYSTEM

1. The BUYYER/Homeowner recognizes and confirms that the water system within the subdivision is
operated, managed and provided by the SELLERS or its authorized Manager,_________, and does not
form part of the Common Areas/Properties.
2. The BUYER or any person in his behalf shall not tap or be permitted to tap into the water mains
without the prior written permit of the SELLERS or its authorized Manager,____________.
3. The SELLERS, or its authorized Manager,________________________, shall handle the exclusive
management and supervision of the water system as well as the charging of water fees. The BUYER shall
comply with all requirements for water connection and pay the usual fees and charges therefore.
4. No BUYER shall be allowed to install any water or drainage outlet outside his property without the
prior written approval of the SELLERS and/or the Association. Boring though concrete curb and gutter is
not allowed.
5. The BUYER shall be allowed to install or use booster pumps or other similar devices in drawing out
water supply from the water main life. The SELLERS, or its authorize Manager,_______________, shall
be authorize to remove the aforesaid pump and devices and disconnect the water supply connection to the
BUYER/Homeowner as penalty for violation of its provision.
IV. SEWAGE AND GARBAGE DISPOSAL
1. Sewage disposal must be done through adequate septic tanks to be built by the BUYER, which must
always kept in sanitary condition.
2. All garbage must be wrapped in disposable plastic bags and then disposed of in garbage bins located in
proper areas designated by the SELLERS and/or the Association or by the local government unit
concerned. Due care must be exercised in bringing out the trash s that there is no littering along the
streets.
3. SELLERS and/or the Association reserve the right to collect the appropriate fees in providing the
needed services for sewage and garbage disposal.
V. WALLS AND FENCES
1. No fences or walls shall be made on Lot prior to construction of one’s house or building.
2. The Lot may be fenced only in accordance with the plans and specifications of all fences approved by
SELLERS and/or the Association.
3. Cost of fences or perimeter walls may be shared equally by adjoining Lot owners.
VI. UTILITIES
1. The BUYER shall secure all the necessary permits before tapping into any utility line.
2. No overhead water tanks are allowed.
3. Water meters must be installed outside of the Lot’s fence.
4. The representative of the SELLERS, the Association or of any public service or utility company shall
upon prior advice have the right to enter any Lot at any reasonable time of the day for the purpose of
inspection, measurements, installation or disconnection of water, light, telephone system, etc. or to
make necessary repairs to works on or within the Lot.
 5. If the drainage, sewage, water, road and other utilities are affected by any house construction,
renovation or expansion then the repair and/or relocation costs shall be shouldered by the BUYER
concerned.
VII. AUXILIARY STURUCTURES
Auxiliary structures may be construed on the Lot only with the prior written approval of the
SELLERS and/or the Association. Such structures including radio/TV antennae should have a maximum height of
twenty (20) meters and with one (1) meter setback at the sides and the rear. The SELLERS shall not be responsible
or liable for any damage to life or lives should such structure fall, whether by accident or fortuitous event, or from
any other causes.
VIII. FUTURE IMPROVEMENTS AND ALTERATIONS
1. Even after the completion of the struction of the residential house and the return of the construction
bond, the Lot shall continue to be subject to inspection to ensure building restrictions are continually
adhered to.
2. Any future improvements, alterations, or construction in the Lot shall be made only upon prior
authorization to renovate/repair existing building(s) and shall be subject to all the foregoing terms and
conditions.
3. Any violation of the foregoing rules and regulations on future improvements and alterations shall be
subject to penalties, including the suspension of the authority to renovate, if any was obtained, and the
prohibition of entrance into the Project of the conatruction supplies and materias and construction
workers.
IX. TERMS OF RESTRICTIONS
The foregoing restrictions shall remain in force for thirty (30) years starting from
______________________ unless sooner modified by two-third votes of members in good standing of the
Association and with the prior written approval of the SELLERS. However, the Association may, abolish
particular restrictions or parts thereof, subject in all cases, to the prior written approval of the SELERS.
X. ENFORCEMENT OF RESTRICTIONS
1. The foregoing restrictions may be enjoined and/or enforced by court action by the SELLERS and/or the
Association. In the event of any violation of the foregoing restrictions and/or non-payment of any of any
amount, charges or fees due on the Lot or houses constructed thereon, or fees charges of whatever nature,
the SELLERS and/or the Association shall have the right resort to other remedies, including disallowing
the use of any facilities of the Project. The SELLERS and/or the Association may, however, authorized
and assign to other corporations, entities or agencies the full enforcement of this Deed of restrictions even
without the consent of the BUYER.

2. Should the BUYER violate any provision of this Deed, such as the easement requirements, the SELLERS
and/or the Association shall, without the necessity court order, remove and/or demolish or cause the
removal or demolition of any structure built or constructed in violation of the specified easements or any
other restrictions specified in this Deed at the expense of the BUYER and the BUYER hereby
acknowledges and agrees that the SELLERS and/or the Association shall not by reason thereof incur any
civil or criminal liability whatsoever. Furthermore, the cost of removal and/or demolition shall be for the
account of the BUYER and the letter shall pay in full the said costs upon written demand by the SELLERS
and/or the Association.

3. The BUYER hereby makes, manifests and represents that he has investigated the Lot subject matter of this
contract ad that he has found no squatters or adverse occupants whatsoever thereon and is fully satisfied
with the area, terrain and contour, actual condition of the Lot and the area in general.

4. The BUYER binds itself to comply with all the laws, ordinances, and regulations regarding sanitation,
safety and other orders which the Department of Health or any other branch of the government, local or
national, may have promulgated or may hereafter promulgate for the protection of the public.

Waiver or forbearance by the SELLERS of strict compliance with, or violation of any term and
condition of this Deed, shall not be constructed or interpreted as a waiver of subsequent non-compliance or
violation of said or any other term or condition of this Deed.

5. The BUYER agrees not to sell, cede, encumber, transfer, hi lot or right over it, or in any manner to do ay
act which will violate this Deed without the prior written approval of the SELLERS, and until all
stipulations of this Deed shall have been complied with. The BUYER binds himself during the life of this
Deed not to alter, remove, displace or in any way interfere with any monument or other evidence of
boundary upon his Lot, not to cut or destroy or in any manner cause any waste or damage to or upon said
Lot or to allow other to commit any of the aforesaid acts, without previous written approval from the
SELLERS.

It is understood that all government expropriations affecting the Lot or any portion thereof shall be for the
sole account of the BUYER and shall not in any way affect his obligations in favor of the SELLERS under
the Contract to Sell.
6. In case the delay in the installation of the permanent power facilities and/or the waterworks system of the
Project, due to conditions beyond the control of the SELLERS at the time the BUYER occupies his Lot,
the SELLERS shall have the option to provide electricity and/or water through temporary facilities and the
BUYER hereby agrees to pay his pro-rata share at actual cost or based on metering until such time that the
power facility company, and/or the Water District is able to take over and supply there requirements.

7. The Association may add other reasonable restrictions, or change or amend any restrictions herein
embodied, provided however that nothing in any of such new restrictions, amendments, or changes shal in
any way diminish or relax the restrictions herein set forth. Any additions, changes or amendments shall be
subject to the written approval of the SELLERS, its successors or assigns.

8. The restrictions herein contained shall subsist as a limitation on the ownership of the Lot and shall serve as
an encumbrance annotated on the Title over the Lot.

9. Where there appears to be a conflict in the interpretation of these restrictions, the reasonable interpretation
of the SELLERS shall prevail.

10. All the powers, duties, obligations and authorities of the SELLERS as may be provided in this Deed of
Restrictions may be exercised by, or assigned to the SELLER`S duly authorized representatives,
successors or assigns.

IN WITNESS WHEREOF, the parties hereunto set their hands this _____________ day of
______________________, in _______________________.

VINE DEVELOPMENT CORPORATION

AXEIA DEVELOPMENT CORPORATION
(SELLERS)
By:
_________________________
Attorney-in-Fact

CONFORME:
________________________

With Marital Consent:

_______________________

SIGNED IN THE PRESENCE OF:

_____________________________ ______________________________