ESCROW AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This ESCROW AGREEMENT made and entered into in the ____________, Philippines, by and
between hereinater called the VENDOR;

– and –

______________________, single/married to __________________, of legal age and postal

address at _______________, hereinafter called the ESCROW AGENT.

WITNESSETH: THAT-

WHEREAS, under date of _____________, 20___, the VENDOR executed in favor of the
VENDEE for the price of Philippine currency, a deed of sale conveying to the latter certain real
property situated in which DEED OF SALE has been delivered in escrow to the ESCROW
AGENT, the receipt whereof is hereby acknowledged by the latter;

WHEREAS, under date of ____________, 20_____, in fully payment of the agreed purchase
price set forth in said deed of sale, the VENDEE has deposited in escrow to the ESCROW
AGENT the sum of, the receipt whereof is likewise acknowledged by the latter; and

WHEREAS, for the final consummation of the above transaction the parties hereto have
obligated themselves individually to comply with certain conditions more particularly stipulated
hereunder;

NOW, THEREFORE, for and in consideration of the premises, and more specifically the mutual
commitments herein set forth, the parties hereto have voluntarily agreed and covenanted as
follows:

1. THAT the VENDOR or his duly authorized representative shall cause the cancellation of
the encumbrance upon the property and remove any and all annotations in the said
certificate of title and once cancellation thereof has been accomplished, said VENDOR
shall deliver to the ESCROW AGENT the said Transfer Certificate of Title No.;

2. THAT, upon receipt of the aforementioned title and other papers by the ESCROW
AGENT, the latter shall pay to the VENDOR or his duly authorized representative the
full amount deposited in escrow, representing the agreed purchase price, and the
certificate of title and other pertinent papers turned over to the VENDEE;
 3. THAT, if for any reason there should be any legal impediment to bar the registration of
the aforementioned deed of sale, it shall be obligation of the ESCROW AGENT to
deliver the VENDOR and to the VENDEE all the papers and cash deposit respectively
belonging to them held in escrow;

4. THAT the ESCROW AGENT, cognizant of the foregoing terms and conditions above
stipulated, does hereby agree to acts as depository for the VENDOR and the VENDEE,
and to discharge the duties and perform the undertaking in accordance therewith; and

5. THAT, the service fee to be due and payable to the ESCROW AGENT in any events
shall be for account of the VENDOR.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at the place first
above written on this __________day of ________________, 20 _____

___________________________ ____________________________

Vendee Vendor

________________________

Escrow Agent

SIGNED IN THE PRESENCE OF:

_____________________________ _____________________________

ACKNOWLEDGMENT

Republic of the Philippines ]

Province of _____________________________ |SS.

City/ Municipality of ____________________)

BEFORE ME, a Notary Public in and for _____________ City, Philippines, this _____ day of
_________________, 20____ personally appeared:

Name Res. Cert. Date/Place Issued

_________________ ____________ ________________

________________

________________ ____________ ________________

________________

all known to me and to me known to be the same persons who executed the foregoing instrument
and they acknowledged to me that the same is their free and voluntary act and deed.

IN TESTIMONY WHEREOF, I hereunto set my hand and affix my notarial seal on the date and
at the place first above written.

Doc No. _______

Page No._______

Book No. ______

Series of _______