CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made and executed by and between:

MITCHEL C. GUSMAN, Filipino married to BERNARD JUAN GUSMAN, an American Citizen,

both of legal age and a residents of Celerina Heights, Brgy. Cabantian, Buhangin District Davao
City, Philippines hereinafter called the “ VENDOR”.

-and-

JULIESEL M. CABATING, Filipino and her fiancée, ALLAN TWOMEY, an Australian Citizen,
both of legal age and a resident of Block 1, Lot 16, Remedios Heights, Brgy. Communal, Buhangin
District, Davao City Philippines hereinafter called the “ VENDEES”.

Witnesseth:

WHEREAS, the VENDOR is the absolute and registered owner of a parcel of land situated
in Barrio of Cabantian, City of Davao, Island of Mindanao covered and embraced under Transfer
Certificate of Title NO. 146-2016018396 containing an area of TWO HUNDRED EIGHTY EIGHT
( 288 ) SQUARE METERS, more or less registered in the Registry of Deeds of Davao City;

WHEREAS, the VENDEE has offered to buy and the 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 HUNDRED FIFTY
THOUSAND (P 250,000.00 ) Philippine Currency, and the covenants herein after set forth that
the VENDOR agrees to sell and the VENDEES agrees to buy the aforementioned property subject
to the following terms and conditions :

That the total consideration shall be FIVE MILLION ( P 5,000,000.00 ) Philippine

Currency, payable as follows:

a) The sum of TWO HUNDRED FIFTY THOUSAND ( P 250,000.00 ) PESOS. Philippine

currency, representing “earnest money” and is also considered a form of a
“partial payment” deductible from the above total sale price; and shall pay monthly
amortization of FIFTY FOUR THOUSAND ( 54,000.00 ) with BDO Bank
upon execution of the CONTRACT TO SELL;

b) The remaining balance including the monthly amortization of BDO bank amounting to
EIGHT MILLION FIVE HUNDRED FIFTY FOUR THOUSAND FOUR HUNDRED THIRTY TWO AND
SISXTY CENTAVOS ( P 8,554,432.60 ) Philippine currency, shall be payable in the
period of six (6) months commencing on the notarial date of this instrument or
on or before March 15, 2020;
 c) In case the payment of the balance as provided in paragraph “b” is not met, the earnest
money as mentioned in paragraph “a” shall be forfeited in favor of the VENDOR;

d) Capital Gain Tax, Documentary Stamp Tax, Transfer Fees, Notarial fees Real Property
Tax and all other expenses to transfer shall undertake in a Fifty Fifty (50/50 ) basis;

e) Full possession of the subject property take effect upon full payment of the VENDEE
to the VENDOR of the total amount in consideration, the VENDOR shall sign and
execute a DEED OF ABSOLUTE SALE in favor of the VENDEE. The VENDOR shall
likewise execute and/or deliver any and all documents including but not limited to
the original copy of the Transfer of Certificate of Title, Tax Declaration and all other
documents necessary for the transfer of ownership.

IN WITNESS WHEREOF, the parties have herewith affixed their signatures this _________
at Davao City Philippines.

MITCHEL C. GUSMAN JULIESEL M. CABATING ALLAN TWOMEY

Vendor Vendee Vendee
PP No. ____________ PP No.______________ PP No.____________

With my marital consent:

BERNARD JUAN GUSMAN, JR.

Husband of the Vendor
Signed in the presence of :
GILBERT DE LEON MA ROWENA Q ABELLA
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
IN THE CITY OF DAVAO )S.S

BEFORE ME, a Notary Public for and in the City of Davao this ____________personally came
MITCHELL GUSMAN, BERNARD JUAN GUSMAN, JR., JULIESEL M. CABATING and ALAN TWOMEY with their
competent proof of identification as shown below their names and signatures known to me and to me
known to be the same persons who executed this CONTRACT TO SELL consists of two (2) useful pages
including the page on which this acknowledgement 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 WHREOF, I have hereunto set my hand the day, year and place above written

Doc. No._____;
Page No._____;
Book No._____;
Series of 2019.