CONTRACT TO SELL

KNOW BY ALL MEN THESE PRESENTS:

This CONTRACT TO SELL made and executed by and between:

BERNADETH MARTINEZ NOVEDA, Filipino citizen, of

legal age, annulled, and with residence at Unit 401, Manhattan
Madison Manor Condo, Manila Doctors, Brgy. Almanza Uno, Las
Pinas City, hereinafter referred to as the SELLER;

- and -

SPOUSES JOBEL M. ESPINO and CRISTINA

MARTINEZ ESPINO, both of legal age, Filipino citizens, married
and with residence at 11-A S.K. Ramirez Street, Tuktukan, Taguig
City, hereinafter referred to as the BUYER;

WITNESSETH;

WHEREAS, SELLER is the absolute owner of the parcel of land with

improvements located at Block 2, Lot 77, Veraville TH-Regency, Manuyo Dos, Las
Piñas City, consisting of 45.50 sqm, registered under TCT No. 005-2015003914
of the Registry of Deeds of Paranaque City, described in particular as follows:

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 WHEREAS, SELLER is the absolute owner of the parcel of land by virtue of a
Deed of Sale executed in her favor by SPS. Meinrado C. Villame and Luzvisminda
D. Villame.

WHEREAS, the SELLER has offered the above-mentioned property for sale to
the BUYER and the latter is amenable thereto subject to the below-enumerated
terms and conditions;

NOW THEREFORE, for and in consideration of the total sum of TWO MILLION
SEVEN HUNDRED THOUSAND PESOS (Php 2,700,000.00), the SELLER agrees to
sell and the BUYER agrees to buy the aforesaid property payable through
CASH/MANAGERS’ CHECK/WIRE TRANSFER subject to the following terms and
conditions:

1. Upon signing of this Contract to Sell, the BUYER shall pay the SELLER the
amount of SIX HUNDRED THOUSAND PESOS (Php 600,000.00)
representing the EARNEST MONEY DEPOSIT which shall be deducted from
the total purchase price and is not subject of forfeiture in case of
cancellation of contract;

2. Simultaneous with the execution of this Contract, the SELLER hereby

grants the BUYER authority to enter, possess and utilize the premises of
the property subject of this contract to sell for whatever legal purpose it
may deem appropriate and in accordance with applicable law,
jurisprudence and rules in the first week of August 2020.

3. Upon turn-over of full physical possession of the subject premises, the

SELLER shall undertake to transfer the Transfer Certificate Title (TCT) of
the subject property into her name.

4. TIME FRAME OF PAYMENT OF THE BALANCE. Upon showing by the

SELLER that the TCT is already transferred under her name, BERNADETH
MARTINEZ NOVEDA, the BUYER shall undertake to pay the balance
amount of TWO MILLION ONE HUNDRED THOUSAND (P2,100,000.00)
within six (6) months from the day the TCT under the name of the seller,
BERNADETH MARTINEZ NOVEDA, was shown to the BUYER by the
SELLER.

5. In case the BUYER could not pay the balance amount of P2,100,000.00
stated in this Contract To Sell, the contract to sell shall automatically be
cancelled and the earnest money of P600,000.00 shall be returned by the
SELLER to the BUYER.

6. In case the SELLER could not return the earnest money of P600,000.00 to
the BUYER, the BUYER shall remain to occupy the property until fully paid
or until the P600,000,00 be returned to the BUYER by the SELLER. The
monthly occupation of the said property by the BUYER will serve as the
monthly interest of the P600,000,00.

7. Upon return of the earnest money of P600,000,00 by the SELLER to the

BUYER, the BUYER shall immediately vacate the subject property without
the need of demand. This contract to sell serves as the FINAL DEMAND to
the SELLER to vacate the subject property upon the return of the earnest
money in the amount of P600,000.00 by the BUYER.

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 8. Pending bills and Real Estate Tax in time of the possession of the BUYER,
Capital Gains Tax, Documentary Stamp Tax, Notarization fees,
Registration Fee, Transfer Fees and all miscellaneous fees and expenses
to transfer the certificate of title in the name of the BUYER shall be for the
account of the BUYER.

9. Upon full payment of the total price, the SELLER shall sign and execute a
DEED OF ABSOLUTE SALE in favor of the BUYER. The SELLER shall
likewise execute and/or deliver any and all documents, including but not
limited to the original copy of Transfer Certificate of Title, Tax Declaration
and all other documents necessary for the transfer of ownership from
SELLER to the BUYER.

10.The Parties have entered into this Contract relying solely upon each
other’s representations, warranties, and acknowledgments herein.
Accordingly, in the event of falsity or breach of these representations,
warranties, undertakings, and acknowledgments, the Parties shall each
have the right to rescind this Contract.

11.This Contract shall take effect immediately upon the signing hereof and
shall be binding on the Parties hereto and their respective heirs, assigns,
and successors-in-interest.

12.If there are other documents, which may be necessary to be executed to

fully implement this Contract, the Parties hereto undertake to execute the
same forthwith without need of further demand.

13.The Parties agree to faithfully comply with the terms and conditions of this
Contract in utmost good faith. Failure to comply with the substantial
provisions of this Contract may give rise to a right of rescission and
damages on the part of the aggrieved Party.

BERNADETH MARTINEZ NOVEDA,

SELLER

JOBEL M. ESPINO CRISTINA MARTINEZ ESPINO

BUYER BUYER

SIGNED IN THE PRESENCE OF:

__________________________ __________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF PRANAQUE ) S.S

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BEFORE ME, a Notary Public for and in __________City, this______day of
______________ 2019, personally appeared the following persons with their:

NAME ID NO. PLACE / EXPIRY

DATE

all representing to me known, to be the same persons who executed the

foregoing CONTRACT TO SELL and whose identities were verified by me by
means of their submitted proofs identification indicated above beside their
respective names, bearing their signatures, thumb marks and photographs and
who affirmed before me that they affixed their signatures on the document
voluntarily, in the presence likewise of their instrumental witnesses, for the
purpose sated in the document and declared that they executed the document
as their free and voluntarily act and deed.

WITNESS my signature and Notarial Seal this day of ______, 2019 in the
City of ____________, Philippines.

Doc. No. _______;

Page No. _______;
Book No. _______;
Series of 2019