CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this August 19, 2019 by and between:
Korina Santiago, of legal age, single, Filipino, and residing at Sun Suites, 2nd
Street, Sampaloc, Manila, hereinafter referred to as the VENDOR;
-AND-
Carlos Abad, of legal age, single, Filipino and residing at Xanland Place,
Katipunan Ave., Loyola Heights, Quezon City, hereinafter referred to as the
VENDEE.

WITNESSETH;

WHEREAS, the VENDOR is the owner of a rice farm, located in San Isidro, Bulacan,
with a size more or less of 100 hectares;
WHEREAS, the VENDEE has offered to buy and the VENDOR has agreed to sell the
next harvest of her farm under the terms and conditions herein below set forth;
NOW THEREFORE, for and in consideration of the total sum of TEN MILLION PESOS
(P 10,000,000.00) Philippine Currency, and of the covenants herein after set forth the
VENDOR agrees to sell and the VENDEE agrees to buy the aforesaid property subject
to the following terms and conditions:

1. The total consideration shall be TEN MILLION PESOS (P 10,000,000.00), Philippine

Currency, payable as follows:
a) The amount of ONE MILLION PESOS (P 1,000,000.00), representing earnest money
shall be payable by the VENDEE to the VENDOR upon signing of this Contract to Sell;
b) The remaining balance in the amount of NINE MILLION PESOS (P 9,000,000.00),
shall be paid on or before October 30, 2019.
c) In case the check representing the payment for the remaining balance is dishonored
by the drawee bank, the earnest money in the amount of ONE MILLION PESOS (P
1,000,000.00) shall be forfeited in favor of the VENDOR.

2. Possession to the subject property shall be delivered by the VENDOR to the

VENDEE upon full payment of the total consideration;

3. Upon full payment of the total price, the VENDOR shall sign and execute a DEED OF
ABSOLUTE SALE in favor of the VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this January 30, 2020 in Quezon City, Philippines

Korina Santiago
VENDOR

Carlos Abad
VENDEE
 SUBSCRIBED AND SWORN TO before me this February 5, 2020 in
Quezon City, Philippines. I HEREBY CERTIFY that I have personally
examined the affiant and that I am fully satisfied that she voluntarily
executed and understood the same.

ATTY. ELMER A. GONZALES

Notary Public
Until December 31, 2020
Roll of Attorney 74322
IBP No. 1376 June 23, 1996
PTR No. 17656
Issued in Quezon City
On January 30, 2020