CONTRACT TO SELL REAL PROPERTY

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made, executed and entered into by:

EVANG, of legal age, married to ALONGOS, Filipino, and with residence and
postal address at Alegria, Pagadian City, Zamboanga del Sur, hereinafter referred
to as the SELLER/VENDOR
-AND-
FELG-ASO, of legal age, married to AIZAG-ASO, Filipino and with residence
and postal address at Blk.1 Villa Hermosa Sub., Brgy. Banale, Pagadian City,
Zamboanga del Sur, hereinafter referred to as the BUYER.

WITNESSETH;

WHEREAS, the SELLER is the registered owner of a parcel of land (lot 26-B) located at
Brgy. Alegria, Pagadian City, Zamboanga del Sur, containing a total area of ONE
THOUSAND (1,000) SQUARE METERS, more or less, and more particularly described
as follows:

“A parcel of land of land identified as Lot No. 761-E-26-B, being a portion of

Lot 761-E-26 … by Lot 761-E-8, Csd-090-013540 ONE THOUSAND (1,000)
SQUARE METERS.”

WHEREAS, the BUYER has offered to buy and the SELLER 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 SEVEN

HUNDRED THOUSAND PESOS (Php 700,000.00) Philippine Currency, and of the
covenants herein after set forth the SELLER/VENDOR agrees to sell and
the BUYER/VENDEE agrees to buy the aforesaid property subject to the following
terms and conditions:

1. The total consideration shall be SEVEN HUNDRED THOUSAND PESOS

(Php 700,000.00) Philippine Currency, payable as follows:

a. The amount of FIVE HUNDRED THOUSAND PESOS (Php 500,000.00),

representing as advance payment and deductible to the principal amount,
which shall be payable by the BUYER to the SELLER upon signing of this
Contract to Sell; and

b. The remaining balance in the amount of TWO HUNDRED THOUSAND

PESOS (Php 200,000.00), shall be paid upon release of the Certificate of
Title of the aforementioned property.

2. For purposes of land Titling application, the SELLER shall sign and execute a
DEED OF ABSOLUTE SALE in favor of the BUYER and shall allow the
application of land title in the name of the Buyer subject to the condition that the
 Buyer shall automatically pay the remaining consideration of the contract upon
issuance of title thereof; and

3. This contract shall be binding upon the heirs, successors, executors,

administrators and assigns of the respective parties hereto.

IN WITNESS WHEREOF, the Parties affixed their signatures this ______ day of ____
2020 in Pagadian City.

The BUYER/VENDEE shall apply for a house and lot purchase loan
with PAG-IBIG in the amount of THREE MILLION NINE
HUNDRED THOUSAND PHILIPPINE PESOS (PHP3,900,000.00) to
pay the SELLER/VENDOR for the the house and lot. The
proceeds/check of the PAG-IBIG loan shall be paid to and in the name
of SELLER/VENDOR;
2. For purposes of the loan, the SELLER/VENDOR shall allow the
transfer of the title in the name of the BUYER/VENDEE, but only
after the issuance of a letter of guarantee from PAG-IBIG;
3. The capital gains tax and notarial fees shall be to the account of the
SELLER/VENDOR, while the transfer tax and documentary stamp
1 Through a Special Power of Attorney dated May 12, 2016, notarized by ELLA
KARINA R.
MITRA, Vice-Consul of the Philippines at Seoul, South Korea and entered as Notarial
Registry
Doc. No. 652, Page No. 210, Series of 2016.

tax shall be to the account of the BUYER/VENDEE.

This Contract shall be binding upon the heirs, successors, executors,
administrators and assigns of the respective parties hereto.
IN WITNESS WHEREOF, the parties have hereunto set their hands at
the place and date first above written
The BUYER/VENDEE shall apply for a house and lot purchase loan
with PAG-IBIG in the amount of THREE MILLION NINE
HUNDRED THOUSAND PHILIPPINE PESOS (PHP3,900,000.00) to
pay the SELLER/VENDOR for the the house and lot. The
proceeds/check of the PAG-IBIG loan shall be paid to and in the name
of SELLER/VENDOR;
2. For purposes of the loan, the SELLER/VENDOR shall allow the
transfer of the title in the name of the BUYER/VENDEE, but only
after the issuance of a letter of guarantee from PAG-IBIG;
3. The capital gains tax and notarial fees shall be to the account of the
SELLER/VENDOR, while the transfer tax and documentary stamp
1 Through a Special Power of Attorney dated May 12, 2016, notarized by ELLA
KARINA R.
MITRA, Vice-Consul of the Philippines at Seoul, South Korea and entered as Notarial
Registry
Doc. No. 652, Page No. 210, Series of 2016
tax shall be to the account of the BUYER/VENDEE.
This Contract shall be binding upon the heirs, successors, executors,
administrators and assigns of the respective parties hereto.
IN WITNESS WHEREOF, the parties have hereunto set their hands at
the place and date first above writte

Seller Buyer
WITH MARITAL CONSENT:

Name of Seller’s Spouse Name of Buyer’s Spouse

SIGNED IN THE PRESENCE OF:

_______________________ _________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

Pagadian City ) SS.

BEFORE ME, a Notary Public for and in the City of Pagadian, this
___________________, the following personally appeared with their competent
evidence, to wit:

NAME: EVIDENCE OF IDENTITY DATE/PLACE OF

ISSUE
EVANGELINE F. ONGOS CTC 28621279 11/23/20
FELMARK M. MAG-ASO Driver’s license JO3-03-318308

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

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

Doc. No. _____

Page No._____
Book No._____
Series of 2020