CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT, made and entered into at ______________,Philippines, by and

between
__________________, of legal age, single/married to _______________, ______________
citizen, and with residence and postal address at ________________, hereinafter called
the SELLER.
– and –

____________________, of legal age, single/married to _______________, ________________

citizen, and with residence and postal address at _____________________, hereinafter
called the BUYER,

WITNESSETH:

That, for and in consideration of the agreed purchase price of PESOS:

_________________________________________ (P___________________), Philippines currency,
of which the sum of ____________________ PESOS (P__________________ has been paid
by the BUYER upon the execution of this instrument and the balance to be payable
within a period of _______months (or years,) by installment of not less than
___________ PESOS: ____________________________________________ (P_______________) to
be due on or before the ________ day of _________, 20__________, and every calendar
month thereafter, until fully paid, subject to interest at the rate of ________% per
annum on the balance outstanding, the SELLER does by these present agree and
bind himself/her-self to sell to the BUYER that certain real estate situated at
________________ with the improvements existing thereon, covered by
Original/Transfer Certificate of Title No.___________ issued by the Register of Deeds
of ________________________________ and more particularly described as follows:

(Description of Property)

That upon payment of the total purchase price above stipulated and the other
obligations set forth hereunder, the SELLER shall forthwith execute and deliver to
the BUYER a final Deed of Absolute Sale conveying the above-described property,
free and clear of all liens and encumbrances except such as may be subsisting by
operation of law, it being understood, however, that the expenses for the transfer
of the title to the BUYER, including attorney’s fees, documentary stamps, and
registration fees, shall be for the exclusive account of said BUYER;

That the BUYER, to whom the possession of the subject property is deemed to have
been delivered by virtue of this contract, shall have the option to pay the entire
balance of the purchase price at any time before the period herein stipulated;

That in consideration of the actual possession which the BUYER is given to enjoy
from the date of the execution of this instrument, all taxes and special
assessments, if any, imposed by the government on the property, beginning with
the month in which this contract has been entered into, shall be assumed and paid
by said BUYER as if the property were his/her own, and if for any reason the
payment thereof, including penalties, if any , shall have been advanced by the
SELLER, the total amount thereof so advanced shall be chargeable to the BUYER
with interest thereon at the rate of 12% per annum;

That in case the BUYER shall fail to pay, when due, any of the monthly installments
herein stipulated for three consecutive months before the two-year period from
and after this date, all rights and interest of said BUYER to the above-described
property, including the improvements thereon, shall ipso facto  cease and terminate,
and all payments made by him/her prior to said default shall be deemed forfeited
and waived in favor in favor of the SELLER in settlement of rents and liquidated
damages without prejudice, however, to the rights of such BUYER under Republic
Act 6552 if he/she shall have completed to pay at least two years of installments;
That all payments due and payable under this contract shall be effected in the
place/office of the SELLER, located at ____________________________________, unless
another place shall have been subsequently by him/her in writing;

That (State other stipulations as may included, if any.)

That this agreement shall inure to the benefit of, and be binding upon, the parties
hereto and their respective legal representatives and assigns, but the right of the
BUYER by virtue hereof cannot be validly transferred or assigned to a third party
without the prior written consent of the SELLER; and

That in case it shall become necessary for the SELLER to resort to court for the
enforcement of his/her rights under this contract or for the repossession of the
subject property in case of termination of this agreement by reason of default or
other causes attributed to the BUYER, the said BUYER shall be liable to pay the cost
of suit, attorney’s fees, and other incident expenses which in no case shall be less
the 20% of the balance of the agreed purchase price then outstanding and other
subsisting obligations arising thereunder.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at the
place first above written, on this ___________day of _____________, 20_______.

_____________________ _______________________
Buyer Seller
TIN _____________ TIN _____________

With my marital consent:

 
______________________
Spouse of seller
Signed in the presence of:

_____________________ _____________________

ACKNOWLEDGMENT

Republic of the Philippines)

_____________________ ) SS.

BEFORE ME, a Notary Public in and in _______________ this _______ day of

_________________, 20__, personally appeared the following:

Name: CTC No./ I.D. No. Date & Place Issue

________________________ _______________ ________________________

________________________

________________________ _______________ ________________________

________________________

all known to me to be the same persons who executed by the foregoing instrument
and they acknowledged to me that the same is their free and voluntary act and
deed as well as that of the corporations that respectively represent.

WITHNESS MY HAND AND SEAL in the place and on the date first above written.

Doc. No. _______;

Page No. _______;

Book No. ______;

Series of _______.