CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this 1 June 2018 by and
between:

CONCHITA B. MONTEMAYOR, Filipino, of legal age, single, and with

residence and postal address at No. 2345 Otis Street, Manila City, hereinafter
referred to as the "SELLER/VENDOR";

-AND-

JUANA A. BARTOLOME, Filipino, of legal age, single, and with

residence and postal address at No. 1234 Miguelin Street, Manila City,
hereinafter referred to as the "BUYER/VENDEE".

WITNESSETH;

WHEREAS, the SELLER/VENDOR is the absolute and registered owner

of a Color Red MITSUBISHI MONTERO SPORT GLS with plate number XYZ
987

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER

/VENDOR has agreed to sell the above mentioned property under the terms
and conditions herein below set forth;

NOW THEREFORE, for and in consideration of the total sum of TWO

MILLION ONE HUNDRED SIXTY-FOUR THOUSAND (PHP2,164,000.00)
Philippine Currency, and of the covenants herein after set forth
the SELLER/VENDOR agrees to sell and the BUYER/VENDEE agrees to
buy the aforesaid property subject to the following terms and conditions:

1. Bartolome shall pay for all taxes and other expenses that may be
incurred by the Montemayorin causing the transfer of ownership of the
vehicle in his favor

2. Upon the execution of the corresponding contract, Bartolome shall pay

Montemayor the sum of PHP 500,000.00, representing 23% of the total
consideration as downpayment;

3. The remaining balance of PHP 1,664,000.00, representing 77% of the

consideration, shall be paid within a period of three (3) years, payable
in 36 equal monthly installments amounting to PHP 32,333.00 per
month. Said installments shall be paid on or before the fifteenth day of
every month;

4. Montemayor reserves ownership to the subject vehicle until full

payment of the purchase price by Bartolome. In this regard, upon full
payment of the remaining balance of PHP 1,664,000.00, Montemayor
shall execute Deed of Absolute Sale and deliver to Bartolome the deed
and any and all necessary documents conveying the subject vehicle in
favor of Bartolome, free and clear of all liens and encumbrances,
except such as may be subsisting by operation of law;

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 5. Bartolome shall be liable for the expenses relative to the execution of
the deed of absolute sale and the payment of taxes, fees, and other
expenses that may be incurred in transferring the subject vehicle in her
name, including but not limited to, capital gains tax, documentary
stamp tax, transfer tax, registration fees, and broker’s commission;

6. If, however, Bartolome fails to pay the monthly amortization on time,

then all the money paid shall be forfeited in favor of Montemayorand
this Contract to Sell is thus nullified, rescinded and/or without effect.

7. Montemayor reserves the right to extra-judicially rescind his contract

with Bartolome in case of the latter’s failure to fully pay the purchase
price; and

8. Montemayor warrants valid title to, and peaceful possession of the

subject vehicle, and that the same is free and clear of all liens and
encumbrances of any kind whatsoever.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,

this 1 June 2018 at Manila City, Philippines.

CONCHITA B. MOTEMAYOR JUANITA A. BARTOLOME

SELLER/VENDOR BUYER/VENDEE

SIGNED IN THE PRESENCE OF:

PERLA D. MONTENEGRO SALVACION E. DELA BUENDIA

WITNESS WITNESS

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

Manila City ) SS.

BEFORE ME, a Notary Public, this 1 June 2018, personally appeared the
following:

NAME COMPETENT DATE / PLACE

EVIDENCE OF ISSUED
IDENTITY
CONCHITA B. Driver’s License No. Manila City
MONTEMAYOR G01-23-456789
JUANITA A. Driver’s License No. Manila City
BARTOLOME G01-23-456789

This Contract to Sell, consisting of three (3) pages, including the page on
which this acknowledgment is written, has been signed on the left margin of
each and every page thereof by the concerned parties and their witnesses,
and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and
place above written.

ATTY. LESLEY A. BELERICK

NOTARY PUBLIC – MANILA CITY
ROLL NO. 12345
IBP NO. 678910 – 01/05/2019
PTR NO. 1112131 – 01/05/2019
MCLE COMPLIANCE VI - 4151617

Doc. No. 18;

Page No.19;
Book No. 20;
Series of 2019.

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