Deed of sale by instalment

KNOW ALL MEN BY THESE PRESENTS:

This CONVEYANCE is made, executed and entered into by:

 
       ATTY. STELLA C. RANALAN, of legal age, Filipino, and with residence and
postal address at Mana Pepang Viliage, Barangay Rizal, Surigao City, Surigao Del
Norte, hereinafter referred to as the SELLER
 
-AND-
 
       JEREMY B. GALINATO, Filipino and with residence and postal address at
Purok 4, Brgy. Ladgaron, Claver, Surigao del Norte, hereinafter referred to as the
BUYER.
 
WITNESSETH; 
 
       WHEREAS, the SELLER is the registered owner of a parcel of land located at
Brgy. Rizal, Surigao City and covered by Transfer Certificate of Title No. 162-
2021000263 containing a total area of SEVENTY ONE (71) SQUARE METERS,
more or less, and more particularly described as follows:
 
TRANSFER CERTIFICATE OF TITLE NO. 162-2021000263
 
       A PARCEL OF LAND (LOT 10, BLOCK 16,PSD-10-023703,BEING A PORTION OF LOT
1430,CAD. 234, SURIGAO CADASTRE), SITUATED IN THE BARANGAY OF RIZAL, CITY OF
SURIGAO, ISLAND OF MINDANAO. BOUNDED ON THE NW., ALONG LINE 3-4 BY LOT 8;
ON THE NE., ALONG LINE 4-1 BY LOT 9; ON THE SE., ALONG LINE 1-2 BY LOT 12, ALL
OF BLOCK 16; ON THE SW.,ALONG LINE 2-3 BY ROAD LOT 15, (4.00 M. WIDE), ALL OF
THE SUBDIVISION PLAN PSD-10-023703. BEGINNING AT THE POINT MARKED "1” ON
THE PLAN BEING N. 44 DEG. 32' W., 448.08 M. FROM BLLM NO. 170, CAD.234,
SURIGAO CADASTRE, THENCE S. 18 DEG.28'W., 9.50 M. TO POINT 2; THENCE N.71
DEG.29'W., 7.50 M. TO POINT 3: THENCE N. 18 DEG.28'E., 9.50 M.T0 POINT 4; THENCE
S. 71 DEG, 29'E., 7.50 M.TO POINT OF BEGINNING; CONTAINING AN AREA OF SEVENTY
ONE (71) SQUARE METERS MORE OR LESS. ALL POINTS REFERRED TO ARE INDICATED
ON THE PLAN AND MARKED ON THE GROUND BY PS CYL. CONC. MONS. 15 X 40 CM.
BEARINGS TRUE, DATE OF ORIGINAL SURVEY SEPT. 3, 1925 AND THAT OF THE
SUBDIVISION APRIL 03-15, 1995 EXECUTED BY GERSACIO A. MAGNO, GEODETIC
ENGINEER AND APPROVED ON JUNE 13,1995. Registered in accordance with the
provision of the property registration decree in the name of ATTY. STELLA C. CABAHUG-
RANALAN, OF LEGAL AGE, FILIPINO, with postal Address at MANA PEPANG VILIAGE,
BARANGAY RIZAL SURIGAO CITY, SURIGAO DEL NORTE, CARAGA, PHILIPPINES.

       WHEREAS, the BUYER has offered to buy and the SELLER has agreed to
sell the above mentioned property for the amount of One Million Pesos (P
1,000,000.00) Philippine Currency; That the sale is on INSTALLMENT basis and
transfer of taxes and fees such as notarial of deed of absolute sale, documentary
stamp tax, capital gains tax, transfer tax, entry fee in the registry of deeds,
verification or survey fees and others shall be for the buyer or vendee’s account.

WHEREAS, the Buyer agrees to pay a down payment of Three Hundred

Thousand Pesos (Php. 300,000.00) and the remaining balance of Seven Hundred
Thousand Pesos (Php. 700,000.00) will be paid in instalment payment of Twenty
Nine Thousand One Hundred Sixty Six Pesos and Sixty Seven Centavos (Php.
29,166.67) per month for Twenty Four (24) months. Final payment will be on or
before March 15, 2024.

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WHEREAS, the Buyer will only receive the title to the purchased property
upon the final payment. If payments go into default for more than 30 days, the full
balance shall become due. Buyer will be responsible for Seller's legal fees in this
situation.

WHEREAS , the SELLER reserves his right of ownership over the subject
lands until full payment of the consideration;

       NOW THEREFORE, for and in consideration of the sum of One Million Pesos

(P 1, 000,000.00) Philippine Currency, hand paid the portion of the consideration
by the vendee to the vendor, and the balance will be paid for twenty four (24)
months, the SELLER DO HEREBY SELL, TRANSFER, and CONVEY by way of
Absolute Sale by instalment unto the said BUYER, his heirs and assigns, the
certain parcel of land together with all the improvements found thereon, free from
all liens and encumbrances of whatever nature including real estate taxes as of the
date of this sale.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this 14 th day of
March, 2022 in Surigao City, Philippines.

ATTY. STELLA C. RANALAN              JEREMY B.

GALINATO
Seller                                              Buyer

WITH MARITAL CONSENT:

________________________          _________________________
 Name of Seller's Spouse                Name of Buyer's Spouse

SIGNED IN THE PRESENCE OF:

 
LEBRON JAMES               KOBE BRYANT
Witness Witness
 

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.

BEFORE ME, a Notary Public for and in the City of Surigao, personally appeared:

 
Name                        
    ID Number               Agency/Company   
 
ATTY. STELLA C. RANALAN       117-392-857          BIR - TIN
JEREMY B. GALINATO       471-227-498     BIR - TIN        
 

Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same are their free act and voluntary
deed.
 
This instrument, consisting of (3) pages, including the page on which this
acknowledgment 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.
 

WITNESS MY HAND AND SEAL on this ___day of March, 2022 at Surigao City.

Notary Public
 
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.
 
 

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