CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This contract is entered by and between:

Mary Justine Flores Paquibot, of legal age, Filipino and a resident of BM. Dimataga
St., Lapu-lapu City, hereinafter called as the First Party – would be seller; and John Farone
Smith, of legal age, Filipino and a resident of B. Rodgriguez St., Cebu City, hereinafter called
as the Second Party would – be buyer;

WITNESSETH

Whereas, the First Party is the lawful owner of a real property known as Lot 14,
Block 7, located at Tisa, Cebu City covered with Transfer Certificate of Title No.10122;

Whereas, the Second Party desires to purchase the above-mentioned real property
including all improvements found thereon and to which the would-be seller agreed under
the following terms and conditions, to wit:

Wherefore, it is mutually agreed:

1) That the contract price shall be in the total amount of TEN MILLION FIVE
HUNDRED THOUSAND PESOS (P10,500,000.00), in Philippine currency;

2) That the Second Party shall pay to the First Party the amount of FIVE MILLION
PESOS(P5,000,000.00) as partial or initial payment receipt of which is hereby
acknowledge upon signing hereof;

3) That the remaining balance of FIVE MILLION FIVE HUNDRED THOUSAND

PESOS (P5,500,000.00) in Philippine currency shall be paid by the Second
Party on or before April 1, 2021;

4) That all existing lessors in the subject property sold shall be allowed to continue
the period of their contracts and the First Party shall be the one who will collect
and receive the monthly rental payments to all lessors in the premises until such
time the Second Party have fully paid the remaining balance of FIVE MILLION
FIVE HUNDRED THOUSAND PESOS (P5,500,000.00);

5) That upon full payment of the remaining balance, the FIRST PARTY is duly
bound to execute a corresponding Deed of Absolute Sale in favor of the Second
Party and the payments for the Capital Gains Tax, Documentary Stamps Tax,
Transfer Tax, Registration Fees, Survey and other expenses necessary for the
transfer of ownership unto the buyer’s name shall be shouldered by the Second
Party without any reimbursement from the First Party;

6) That the First Party shall peacefully turn over to the Second Party the subject
property sold including the improvements found thereon in its current
condition;

7) That upon the expiration of the contracts of all lessees of the premises the
Second Party shall be the one who will pay or refund the deposits made by the
lessees;
 8) That should the Second Party opted not to pursue the buying of the herein
subject property sold, the FIVE MILLION PESOS (P5,000,000.00) initial or
partial payment shall be refundable until such time the First Party finds another
buyer of the property and the same shall be deducted with twenty (20%)
percent of the said amount as penalty in favor of the FIRST PARTY;

9) That both parties oblige themselves to fulfill the above-stated agreements and
stipulations in good faith.

IN WITNESS WHEREOF, we have hereunto set our hands and affixed our signatures
this 14th day of February in the City of Lapu-lapu, Philippines.

Mary Justine Flores Paquibot John Farone Smith

First Party Second Party
I.D. No. 2023949483 I.D. No. 1012393445

Republic of the Philippines)

City of Lapu-lapu)

SIGNED IN THE PRESENCE OF:

Ledesma Leferne Reyes Jamil Flor Selan

Witness Witness
I.D. No. 109877874 I.D. No. 109877874

ACKNOWLEDGMENT

BEFORE ME, a notary public in the City of Lapu-lapu, this 14th day of February,
2021 personally appeared Mary Justine Flores Paquibot and John Farone Smith, with
their identification cards bearing the nos. printed above who presented to me to be the
same persons who executed the foregoing Contract to Sell consisting of two (2) pages
including where this acknowledgment is written and acknowledged to me that the same is
their free and voluntary act and deed.

Witness my hand and seal in the date and place written above.

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 DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

This contract is entered by and between:

Mary Justine Flores Paquibot, of legal age, Filipino and a resident of BM. Dimataga
St., Lapu-lapu City, hereinafter called as the seller; and John Farone Smith, of legal age,
Filipino and a resident of B. Rodgriguez St., Cebu City, hereinafter called as the buyer;

WITNESSETH

Whereas, the First Party is the lawful owner of a real property known as Lot 14,
Block 7, located at Tisa, Cebu City covered with Transfer Certificate of Title No.10122
containing a total area of THREE THOUSAND ONE-HUNDRED THIRTY-ONE (3, 131)
SQUARE METERS, more or less, and more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO. 10122

A PARCEL OF LAND, Lot 14, Block 7, located at Tisa, Cebu City of consolidation
subdivision plan (LRC) Pcs-12345, being a portion of the consolidation of Lots 10421-A and
10425-B (LRC) Psd-744545 situated in the Barangay of Tisa, Cebu City, Province of Cebu;
along line 2-3 by Lot no. 9541, Cid Estate, on the W., along line 3-4 by irrigation canal and
Lot no. 4594 and on the N., along line 4-1 by Lot no. 4562 both of the Cid Estate beginning
at a point marked “1” on plan, being N 21 deg. 58’E, 457,000 m. from no. 22 Cid Estate;
thence S. 9 deg. 40’E, 23. 9 m. to the point 2; S. 78 deg. 57’W., 26.1 m. to point 3; containing
an area of three thousand one-hundred thirty-one (3, 131) square meters. .

Whereas, the Seller do hereby sell, convey, and transfer in a manner absolute and
irrevocable unto the said Buyer, his heirs and assigns under the following agreement:

1) That the certain price of the said property shall be in the total amount of TEN
MILLION FIVE HUNDRED THOUSAND PESOS (P10,500,000.00), in Philippine
currency;

2) That upon signing of this contract the Buyer shall fully pay the Seller in the said total
amount.

3) That the Seller shall give the Buyer absolute and complete control and possession of
the subject property thereon upon the receipt of full payment;

4) That both parties oblige themselves to fulfill the above-stated agreements in good
faith.
 IN WITNESS WHEREOF, we have hereunto set our hands and affixed our signatures
this 14th day of February in the City of Lapu-lapu, Philippines.

Mary Justine Flores Paquibot John Farone Smith

First Party Second Party
I.D. No. 2023949483 I.D. No. 1012393445

Republic of the Philippines)

City of Lapu-lapu)

SIGNED IN THE PRESENCE OF:

Ledesma Leferne Reyes Jamil Flor Selan

Witness Witness
I.D. No. 109877874 I.D. No. 109877874

ACKNOWLEDGMENT

BEFORE ME, a notary public in the City of Lapu-lapu, this 14th day of February,
2021 personally appeared Mary Justine Flores Paquibot and John Farone Smith, with
their identification cards bearing the nos. printed above who presented to me to be the
same persons who executed the foregoing Contract to Sell consisting of two (2) pages
including where this acknowledgment is written and acknowledged to me that the same is
their free and voluntary act and deed.

Witness my hand and seal in the date and place written above.

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Series of 2021