AFFIDAVIT OF ADJUDICATION WITH

DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS:

This contract is entered into by and between:

ADELA VDA. DE CABALLES, of legal age, widow of the late Jacinto ,

Filipino, and a resident of Buntun, Tuguegarao City, Cagayan, hereinafter referred to as
the Vendor; and , WILLIAM C. BASSIG, Filipino, married to Lorna Bassig, and a
resident of the same barangay, herein referred to as Vendee;

Witnesseth:

That the Vendor is the sole surviving heir of the late Jacinto Caballes who died
intestate on June 5, 2001at Tuguegarao City, Cagayan;

That being the sole and only surviving heir, the Vendor adjudicates unto herself a
parcel of land particularly described as follows:

TCT No. T-100992

“A parcel of land (lot 4776-B-1-A, of the subdivision planPs- -91-

000485, being a portion of lot 4776-B-1, Pad-2-01-000146, situated in the
barrio of Buntun, municipality of Tuguegarao, province of Cagayan,
island of Luzon, x x x containing an area of five hundred twenty-five (525)
square meters, more or less, x x x”

That the Vendor is willing to sell a portion of the afore-described parcel of land
under the conditions set below;

NOW THEREFORE, for and in consideration of the foregoing, the VENDOR

hereby sell and convey by way of conditional sale to the VENDEE a Two Hundred
Twenty (220) square meters, more or less, of the afore-described property for an entire
consideration of ONE HUNDRED TWENTY FIVE THOUSAND PESOS (P 125,
000.00), the amount of THIRTY TWO THOUSAND AND EIGHT HUNDRED
PESOS (P 32, 800.00) having been paid and received by the VENDOR, and the
remaining balance of NINETY TWO THOUSAND AND TWO HUNDRED PESOS (P
92, 200.00) shall be paid on or before October 12, 2009.

The following are further agreed upon, to wit:

1. After the payment of the entire consideration on the agreed date, the
VENDOR shall execute the necessary deed of absolute sale;

2. Pending the full payment of the entire consideration of the sale, the VENDEE
are given NO right to possess the property, neither the right to construct and built any
structures and improvements thereat;

IN WITNESS WHEREOF, the parties have hereunto set their hands this 12 th
day of October 2007 at Tuguegarao City, Cagayan.

ADELA VDA. DE CABALLES WILLIAM C. BASSIG

Vendor Vendee
 SIGNED IN THE PRESENCE OF

CHARLES DINAMLING ISAGANI GARCIA

REPULIC OF THE PHILIPPINES )

CITY OF TUGUEGARAO ) s.s.

BEFORE ME, a Notary Public for and in the Province of Cagayan came and
appeared the afore-named parties to this instrument and acknowledged the foregoing
deed as their free and voluntary act and deed.

Further certified that this instrument is consisting of two (2) pages including the
page where this acknowledgement is written.

IN WITNESS WHEREOF, I have hereto set my hand and affixed my notarial

seal, this 12th day of October 2007 at Tuguegarao City, Cagayan.