CONTRACT TO SELL

WITH ASSUMPTION OF RIGHTS AND OBLIGATIONS

KNOW ALL MEN BY THESE PRESENTS:

THIS DEED OF CONDITIONAL SALE made and entered into Muntinlupa City, Philippines on
__________, by and between:

_____________________________, of legal age, Filipino, single/married to

________________ and resident of ________________________________________________,
hereinafter referred to as the VENDOR-ASSIGNOR;

-and-

________________________________, of legal age/s, Filipino/s, single/married to

______________________________, and resident of __________________________________,
hereinafter referred to as the VENDEE-ASSIGNEE

-Witnesseth-

WHEREAS, the VENDOR-ASSIGNOR, as BUYER (PAG-IBIG BORROWER) of

______________________________________________________________________________
covered by T.C.T. No. ________ of the Register of Deeds of Laguna, in the “CONTRACT TO
SELL” executed ______________________ as VENDOR on ___________ entered as Doc. No.
________; Page No. ________; Book No. ___________; Series of ___________ in the Notarial
register of ATTY. _______________________________ of __________________, Philippines,
has offered to assign all aforecited instruments under certain terms and conditions:

WHEREAS, the VENDOR=ASSIGNOR mortgaged the Property in favor of PAG-

IBIG FUND for Php ___________________________ as annotated on the title on ___________
as Entry No. __________________________;

WHEREAS, the VENDOR-ASSIGNOR offered to sell and the VENDEE-ASSIGNEE

agreed to buy the property with all its improvements, with assumption of the existing mortgage
granting that VENDOR-ASSIGNOR will settle the full amount of equity to DDC LAND
INCORPORATED and arrears in PAG-IBIG, under such terms and conditions set forth herein
below:

NOW THEREFORE, for and in consideration of the amount of PESOS:

_________________________________________ PESOS (Php ________________.00)
Philippine Currency, to be paid by VENDEE-ASSIGNEE under the following scheme:

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 (1) _______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________;

(2) _______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________;

The VENDOR-ASSIGNOR does hereby CONDITIONALLY CONVEY, TRANSFER

AND ASSIGN his/her rights and obligations as BUYER of abovementioned property; subject to
the condition that VENDOR-ASSIGNOR may reacquire his/her rights and obligations as
BUYER from the VENDEE-ASSIGNEE if the latter does not complete his/her obligations until
_________________ otherwise, this Contract shall be considered final and absolute in favor of
the VENDEE-ASSIGNEE, without need of executing any other document.

THAT, furthermore, the following conditions should also apply:

1. POSSESSION OF THE PROPERTY – That it is hereby agreed that the VENDEE-

ASSIGNEE may enter upon the premises and take possession thereof upon execution of
this contract; said VENDOR-ASSIGNOR should provide for ENTRY PASS and all other
documents related to said transfer of rights and obligations;

2. OBLIGATIONS to PAG-IBIG – The VENDEE-ASSIGNEE assumes and obligates

himself/herself to pay/settle the outstanding housing loan-mortgage obligation of the
VENDOR-ASSIGNOR with the ORIGINATOR or its ASSIGNEE, PAG-IBIG FUND
(with balance of P _____________________________________ as of _____________),
for which PROPERTY subject hereof was mortgaged;

3. TAXES AND FEES – The VENDEE-ASSIGNEE shall cover for all transfer expenses
and government taxes applied for transferring ownership of said title (TCT) to the
VENDEE-ASSIGNEE hereof;

4. LEGAL DOCUMETNS – That the Absolute Deed of Sale and any other legal paper that
may be required by the VENDEE-ASSIGNEE shall only be executed (signed) and
delivered by the VENDOR-ASSIGNOR after the VENDEE-ASSIGNEE has fully settled
his/her balance or obligations to VENDOR-ASSIGNOR.

IN WITNESS WHEREOF, we have hereunto set our hands this _________________ at

_______________________.

______________________________ __________________________
VENDOR-ASSIGNOR VENDEE-ASSIGNEE
_______ ID No. __________________ _______ ID No. __________________
With Marital Consent: With Marital Consent:

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___________________________________ ___________________________________
_______ ID No. __________________ _______ ID No. __________________

Signed in the presence of:

______________________________ ___________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

______________________________) S.S.

BEFORE ME, on this ___________ at ______________, personally came and appeared

the parties with their respective proofs of identity abovementioned, known to me and to be the
same persons who executed the foregoing instrument, and acknowledged that the same is their
free act and voluntary deed.

This instrument consisting of three (3) pages, including this page wherein the
acknowledgment is written and has been signed by the parties and their witnesses on each and
every page hereof, and relates to the said Deed.

WITNESS MY HAND AND SEAL, at the place and on the date first above written.

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