CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell (“Contract”), made and entered into this

___________________ at ____________________, by and between:

_____________, of legal age, Filipino, single/married to

_____________________, with residence at
_____________________________, hereinafter referred to
as the “VENDOR”;

-and-

_____________, of legal age, Filipino, single/married to

_____________________, with residence at
_____________________________, hereinafter referred to
as the “VENDEE”.

WITNESSETH: That --

WHEREAS, the VENDOR is true and absolute owner of a parcel of land located
at ________________________ with an area of _______________ (__) sqm and
covered by Transfer Certificate of Title (TCT) No. _______________ of the Registry of
Deeds of _____________ (the” Property”) and Tax Declaration No.
________________. A copy of the said Tax Declaration and TCT is attached to this
Contract as Annexes “A” and “B”, respectively, and made an integral part hereof.

WHEREAS, the VENDOR offers to sell the Property to the VENDEE and the
VENDEE hereby agrees to purchase the same.

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

VENDOR agrees to sell to the VENDEE and the VENDEE agrees to buy from the
VENDOR the Property, subject to the following terms and conditions:

Consideration and Schedule of Payment

1. Purchase Price. The total consideration (the “Purchase Price”) for the
Property is One Million Eight Hundred Thousand Pesos (₱1,800,000.00),
Philippine currency.

The Purchase Price shall be payable as follows:

a. Upon signing hereof, the amount of One Million Pesos (₱1,000,000.00),

Philippine currency, representing the down payment; and
b. The remaining balance in the amount of Eight Hundred Thousand
Pesos (₱800,000.00), due next of the month.

2. Place and Manner of Payment . Payment should be made at the

office/residence of the VENDOR.
The VENDEE has the option to pay in cash or check. If the VENDEE opted to
pay in check, the payee should be in the name of the VENDOR.

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 The VENDOR upon receipt of payment from VENDEE or upon encashment
or clearing of the check in case check was paid, shall issue a corresponding
receipt for the same.

Possession

3. Upon full payment of the Purchase Price, the VENDOR shall execute a Deed
of Absolute Sale over the Property in favor of the VENDEE conveying all the
rights, title to and interest in the Property, free from all liens and
encumbrances.

4. Upon the execution of the Deed of Absolute Sale, the VENDEE shall be
entitled to the sole possession of the Property.

Taxes and Expenses

5. Payment of capital gains tax shall for the account of the VENDOR.

6. Payment of documentary stamp tax, transfer tax, registration fees and

miscellaneous expenses to be incurred for the registration of the sale
and transfer of title shall be for the account of the VENDEE.

7. Payment of real estate tax, property insurance, if any, association dues

and utility bills prior to the execution of the Deed of Absolute Sale shall be
for the account of the VENDOR.

Default

8. In case of default by the VENDEE, the VENDEE shall be liable for a penalty
at the rate of two percent (2%) of the Purchase Price.

9. There is default:

a. When the VENDEE fails to pay any of the amount due within the period
set forth in Section 1 hereof;

b. When the VENDEE cancels or terminates this Contract without the written
conformity of the VENDOR;

c. When the VENDEE materially breaches any provision of this Contract; or

d. When the VENDEE concealed any material fact relative to the execution
of this Contract.

Warranties

10. The VENDOR hereby represents and warrants that: (a) it has absolute right
and title to sell and transfer the Property to the VENDEE; and (b) the Property
is free from all liens and encumbrances. In case of any dispute over the title
to or ownership over the Property, the VENDOR shall defend the VENDEE’s
title thereto and peaceful possession thereof at their own exclusive expense

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 and shall render the VENDEE free and harmless from any claims of any third
party, whomsoever.

11. The VENDEE warrants that he has the financial capability to pay the
Purchase Price as stated in the schedule.

12. Both parties warrant that they will faithfully comply with all their respective
obligations duties and warranties as set forth in this Contract.

Miscellaneous provisions
13. The parties acknowledge and agree that this Contract represents the entire
agreement between them. No modification of this Contract shall be valid
without the written consent of both parties.

14. This Contract binds and inures to the benefit of the heirs, assigns,
successors-in-interest of both parties.

15. In case of voluntary assignment, no assignment of the rights and obligation in

this Contract shall be made without the written approval of the other party.
Any assignment without the said written approval shall be invalid and has no
effect.

16. The failure of either party to insist upon a strict performance of any of the
terms, conditions and covenants hereof shall not be deemed as
relinquishment or waiver of any rights or remedy that a party may have, nor
shall it be construed as a waiver of a subsequent breach or default of the
terms, conditions and covenants hereof, which terms and conditions and
covenants shall continue to be in full force and effect. No waiver by either
party of any rights under this Contract shall be deemed to have been made
unless expressed in writing and signed by a party. Acceptance by the
VENDOR of any payment made in a manner or at any time other than as
herein provided shall not be construed as a variation, novation or waiver of
the terms hereof.

17. All actions or lawsuits arising out of or in connection with this Agreement shall
be tried in the proper court of __________________ to the exclusion of other
venues.

18. In case one or more of the provisions contained in this Contract shall be
declared invalid, illegal or unenforceable in any respect by competent
authority, the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby.

IN WITNESS WHEREOF, the parties have hereunto set their hands this on the
day and place first above written.

________________________ ________________________

VENDOR VENDEE

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 With Marital Consent: With Marital Consent:

________________________ ________________________
[Name of VENDOR’s Spouse] [Name of VENDEE’s Spouse]

SIGNED IN THE PRESENCE OF:

________________________ ________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

)S.S.

BEFORE ME, a Notary Public for and in ________________, Philippines, this

____ day of _______________________, personally appeared the following persons
and presented to me their respective competent proof of identity, as follows:

Name Proof of identity Date & Place of Issue

all known to me and to me known to be the same persons who executed the foregoing
Contract To Sell and acknowledged before me that the same is their voluntary act and
deed.

WITNESS MY HAND AND OFFICIAL SEAL on the date and place above-
written.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2021.