CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract To Sell, executed and entered into by and between:

Elaine H. Monera and Arturo A. Monera of legal age, Filipino citizen, single/married to with residence and
postal address at B72 L2 TIERRA MONTE SUBD. SAN MATEO and 62 2 nd St. BELISARIO CMPD PARANAQUE
CITY and hereinafter referred to as the “VENDOR”;

- and -

NORIEL A. LANDICHO, of legal age, Filipino citizen, single/married to BEVERLEY A. LANDICHO, with
residence and postal address at 70 DANSALAN STREET 501 RIDGEWAY RESIDENCES BARANGKA ILAYA
MANDALUYONG CITY, hereinafter referred to as the “VENDEE”;

WITNESSETH:
WHEREAS, the VENDOR is the Legal Heir and Owner of the Property at Sampaguita West Block 06 Lot 16
with Transfer Certificate Number 072-2015007616, situated in Barangay Sampaguita (Formerly Cumba) City of Lipa,
Province of Batangas City (hereinafter referred to as the “House and Lotor sale”);

WHEREAS, the VENDOR and the VENDEE executed a Reservation Agreement dated
___________________________ whereby the VENDEE reserved to buy and the VENDOR agreed to sell the
above-mentioned parcel of the land, together with the housing unit constructed or to be constructed thereon, for a
consideration and under the terms and conditions set forth therein;
WHEREAS, pursuant to and in accordance with the terms and conditions of the said Reservation
Agreement, the VENDEE has paid the VENDOR the stated amount or portion of the total purchase price, for
purposes of the execution of a Contract to Sell, and the VENDOR hereby acknowledges receipt of the same;
NOW, THEREFORE, for and in consideration of the foregoing premises, the VENDOR and the VENDEE
have agreed to execute and enter into this Contract To Sell, subject to the following terms, conditions and covenants:
1. UNIT PURCHASED. The property, subject of this Contract, is that parcel of land, together with the housing
unit constructed or to be constructed thereon (hereinafter referred to as the “UNIT”), which is more particularly
identified and described as follows:

PROJECT/PHASE SAMPAGUITA
WEST PHASE 3

LOCATION Lot 16 block 6

Sampaguita west
phase 3

UNIT ID BLOCK 06 LOT No. 16

No.
TCT No. 072-2015007616 LOT Inner LOT 50
TYPE AREA
HOUSE TYPE FLOOR
2storey AREA
residential
building

1.1. The housing unit is being sold semi furnished. Any details of interior decoration, furniture,
equipment or accessories appearing in the plans and brochures or in a model unit are for illustration
purposes only and are not included in the sale.
1.2. The VENDEE has examined the complete plans and digest specifications for the Project
which are made integral parts hereof, by way of reference. The VENDEE hereby manifests his/her full
conformity thereto and waives any objection respecting the same.
2. PURCHASE PRICE AND TERMS OF PAYMENT. The purchase price for the UNIT, exclusive of interest, is
the lump price of PHILIPPINES PESOS: One Million and one hundred thousand pesos (Php1,100,000), which shall
be paid by the VENDEE to the VENDOR in accordance with the following schedule of payment:
a) DOWNPAYMENT: PESOS One hundred thousand pesos (Php100,000)
Php100,000 payable upon the execution of this Contract;

2.1. The balance of the purchase price stated above, may be subject of a housing loan from
banks or from Pag-IBIG Fund, or other government or private financial institutions, the fees and charges of
which shall be for the account of the VENDEE. The VENDOR shall, in proper cases, advise the VENDEE of
the different housing loans/financing packages available, provided that the VENDEE shall qualify for any
such housing loan/financing package before the same is approved. Any such approved housing
loan/financing package shall be contained in a separate document, which shall be made an integral part
hereof, by way of reference.
In the event the housing loan/financing package approved for the VENDEE is less than the balance
of the purchase price, the VENDEE shall pay the VENDOR the amount corresponding to the difference,
upon the approval of the said housing loan/financing package.
2.2. In the event the loan application of the VENDEE is disapproved, the VENDEE agrees that
the balance of the purchase price shall be re applied to other financing institution
2.3. The approved payment schedule shall be considered of no further effect and/or amended,
as the case may be, if the VENDEE arranges for the full payment of the balance of the purchase price.

3. CONDITIONS OF PAYMENT. The VENDOR and the VENDEE hereby agree that payment of the purchase
price shall be subject to the following conditions:
a) In the event that there shall be two or more VENDEES under this Contract, the obligations herein-mentioned
shall be deemed contracted in a joint and solidary manner.
b) In the event of any supervening change (such as inflation, deflation, depreciation, devaluation or
revaluation) in the value or purchasing power of the Philippines Peso during the effectivity of this Contract due to any
reason whatsoever, the basis of payment of the succeeding installment or the outstanding balance of the purchase
price shall be the value of the Philippine Pesos at the time of the execution of this Contract based on the Consumer
Price Index (CPI).
With or without any official declaration, a supervening change in the value of purchasing power of the
Philippines Peso shall be deemed to exist in case there is an increase or decrease of more than twenty percent
(20%) in the CPI as set forth in the figures released by the National Census and Statistics Office or the Central Bank
of the Philippines or by any office or agency of the government. In such an occurrence, a proportionate adjustment of
the purchase price and/or the unpaid balance or installment under this Contract shall be effected.
c) Should there be a variation due to the law of supply and demand or any official or unofficial increase or
decrease in cost of money of more than ten percent (10%) per annum, the rate of interest and the monthly
installment on the down payment or the balance, shall be automatically or proportionately adjusted to reflect the
prevailing increased/decreased cost of money, bank interest rates for loans, or other financial accommodations.
4. DELIVERY OF THE UNIT. The possession of the UNIT, subject of this Contract, shall be transferred by the
VENDOR to the VENDEE within a reasonable period of time from the date of completion of the construction of the
UNIT, including related facilities. It is understood, however, that possession of the UNIT shall not be transferred to
the VENDEE unless the VENDEE shall have fully paid the down payment to the VENDOR. It is agreed that during
Turn around time of loan proceeds, VENDOR and VENDEE agreed to lease the unit nondeductible to purchase
price.

4.1 The VENDOR shall be discharged from liability for any electrical, structural and/or engineering
defects and all other damages in the UNIT unless the VENDOR, if so notified by the VENDEE, as specified
above, shall undertake in writing to repair the cause of such damages within the scope of the plans and
specifications. Repairs, if any, shall start only upon actual occupancy of the UNIT by the VENDEE.
4.2 The VENDEE shall be deemed to have taken possession of the UNIT in any of the following or
analogous instances: (1) on the date specified in the VENDOR’s Notice, and upon the VENDEE’s actual or
constructive receipt thereof, irrespective of his/her non- occupancy of the UNIT for any reason whatsoever;
 (2) when the VENDEE actually occupies the UNIT; (3) when the VENDEE commences to introduce
improvements, alterations, furnishing, etc. on the UNIT, or (4) when the VENDEE takes or receives the keys
to the UNIT.
5. USE AND MANAGEMENT OF THE UNIT/ RESTRICTIONS. The VENDEE hereby agrees that the UNIT,
subject of this Contract, shall be used for residential purposes only. Certain identified units may, however, be used
for commercial purposes, subject to the restrictions and conditions, as may be imposed by the VENDOR and/or
pertinent laws. The VENDEE shall manage and administer the UNIT as if he/she is the owner thereof and his/her
right to possession of the same shall continue for as long as the terms and conditions of this Contract are faithfully
complied with. The VENDEE undertakes and agrees to keep the UNIT in good condition and in order during the
lifetime of this Contract. Should the VENDEE fail to keep the UNIT in good condition during the lifetime of this
Contract, the VENDOR or its assignee shall have the right and option to enter upon the UNIT and make all the
necessary repairs. The total cost of repairs, plus ten (10%) cost of supervision, shall be charged against the
VENDEE and shall be immediately paid to the VENDOR upon notice. The cost of repairs, including the cost of
supervision, shall bear interest at the same rate stipulated for the interest on the balance of the purchase price,
computed from the time of the said notice until fully paid, and the same shall be considered as part of the purchase
price and subject to all provisions pertaining thereto.
5.1. Notwithstanding the transfer of title of the UNIT in the name of the VENDEE, the UNIT
may not be converted to any other use or purpose. The UNIT may not be devoted to any offensive, unlawful
and/or immoral practice, recruiting or other activities prohibited herein.
5.2. No billboards, commercials or advertising signages shall be erected or constructed on the
UNIT which shall destroy the view of the general vicinity.
5.3. The UNIT may not be used or leased as a hotel or motel room. Sale of beer, liquor or any
intoxicating beverages anywhere in the Projects is strictly prohibited.
5.4. No work animal, goat, sheep or fowl shall be kept and/or raised in the premises.
5.5. The VENDEE shall not cut down, damage, injure or remove any tree or shrub, either
ornamental or fruit bearing, already existing at the time of his/her occupancy of the UNIT, or remove or
quarry any stone, rock or earth within the lot described in this Contract, without obtaining the prior written
consent of the VENDOR. The lot shall be kept clean by the VENDEE at all times.
Violation of any one of the foregoing restrictions on the UNIT shall make the VENDEE liable for
damages to the VENDOR. In addition, the VENDOR shall have the right to cancel this Contract and forfeit
all payments made by the VENDEE. In the event title to the UNIT has been transferred in the name of the
VENDEE, the VENDOR shall have the right to buy back the unit by returning all payments made, without
need of any judicial declaration.
6. TAXES, ASSESSMENT AND EXPENSES

6.1. Real estate taxes and special taxes levied or that may be levied on the UNIT during the
effectivity of this Contract, including the corresponding surcharges and penalties in case of delinquency,
shall be borne and paid by the VENDOR prior loan take out.

6.2. The VENDEE shall pay association dues or fees to finance the services for the comfort,
security, sanitation, taxes, insurance and common needs of unit owners in the Project.

6.3. The interest of the VENDOR over the UNIT, such as the unpaid balance of the purchase
price and the unpaid advances, shall be superior to the lien arising from the non-payment of assessment or
any other liens and encumbrances.

7. INSURANCE. The VENDEE shall be covered by the following insurances, with the VENDOR or its assignee
as the designated beneficiary:
a) Redemption Insurance - This insurance, which covers risk in case of death of the VENDEE, is subject to the
schedule of insurance in the Master Policy.

b) Fire Insurance – The VENDEE shall obtain fire as well as allied peril insurance/s on the UNIT for an amount
equivalent to at least the contract value of the residential unit and/ or its improvements. The premiums for this
coverage shall be prepaid annually by the VENDEE. The initial year’s prepayment shall be deducted from the
Contract proceeds, while the pre-payments for the succeeding years shall be collected, together with the
VENDEE’s monthly installment payment.

c) Other insurance/s as may be required for purposes of the VENDEE’s housing loan.
8. DEFAULT PROVISIONS. This Contract shall be deemed automatically rescinded, without need of court
declaration or order, if the VENDEE fails or refuses to settle any and all of his/her account within thirty (30) days after
service by the VENDOR to the VENDEE of a notarized NOTICE OF CANCELLATION OR RESCISSION, in which
case, the VENDEE shall be deemed to have waived, quit-claimed and renounced all his/her rights and interests over
the UNIT, subject of this Contract.

8.1. Likewise, the VENDOR may extra-judicially cancel this Contract on any of the following
grounds:

a) Failure to submit a duly accomplished housing loan application, complete with the all necessary
supporting documents, to comply with the purposes of the assignment of rights and receivables from
the VENDOR. Delay in the submission of the documents or clearances, as required or which may be
required to support the said assignment of right and receivables.

b) Abandonment, withdrawal, transfer or assignment of rights executed by the VENDEE in favor of a third
person, without the prior written consent of the VENDOR.

c) Failure to submit all the necessary supporting documents, as required or as maybe required, for
purposes of other housing loan applications.

d) Fraud, misrepresentation of facts and/or other illegal acts committed by the VENDEE and/or anybody,
with the knowledge and consent of the VENDEE.

e) Failure or refusal of the VENDEE to pay additional fees, as may be required by the laws, rules and
regulations, and/or as may be justified by circumstances.

f) Failure or refusal of the VENDEE to comply with any of the terms and conditions of this Contract, the
Deed of Restrictions, and/or other related documents.

g) Such other similar grounds, as may have been stated elsewhere in this Contract and/or other related
documents.

8.2. In the event of cancellation or rescission of this Contract due to non-payment of

obligation, the VENDOR shall be entitled to take immediate possession of the UNIT, together with the
improvements thereon, and should the VENDEE remain in possession of the UNIT, the VENDEE shall be
deemed a mere intruder or unlawful detainer without any title, right or interest of any kind or character to the
said UNIT and the improvements thereon. The VENDOR shall be at liberty to dispose of and sell the said
UNIT, together with the improvements thereon, to any other person in the same manner as if this Contract
had never been executed or entered into.

8.3. Should this Contract be cancelled or rescinded in accordance with the foregoing penal
provisions, the VENDEE shall remove, at his/her own expense, all furniture and appliances placed or
introduced in the UNIT; otherwise, the same shall form part of and shall be considered attached to the UNIT
and shall become the property of the VENDOR, without any obligation on the part of the latter to indemnify
the VENDEE for the cost or value thereof. Fixtures and improvements which are permanent in nature are
considered part of and attached to the UNIT and shall not be removed from the UNIT.

8.4. The sending of a notarized NOTICE OF CANCELLATION OR RESCISSION by registered

mail to the VENDEE’s given address shall be deemed sufficient service thereof for the purpose, irrespective
of whether or not it was personally received by the VENDEE.

9. ASSIGNMENT AND TRANSFER OF CONTRACT RIGHTS BY THE VENDOR. The VENDEE hereby
agrees that the VENDOR shall have the right to sell, assign or transfer to one or more purchasers, assignees or
transferees any and all of its rights and interests under this Contract, including all receivables due hereunder, and/or
the UNIT, subject hereof; provided, however, that any such purchaser, assignee or transferee expressly binds
himself/herself to honor the terms and conditions of this Contract, with respect to the rights of the herein VENDEE.
The VENDEE further agrees that the VENDOR shall have the right to mortgage the Property, including the title
covering the UNIT; provided, however, that upon the VENDEE’s full payment of the purchase price, the title to the
UNIT shall be delivered by the VENDOR to the VENDEE, free from any and all kinds of liens and encumbrances.

For purposes of availing and securing a housing loan or a financing package for the payment of the balance
of the purchase price, the VENDEE hereby recognizes and agrees to the right of the VENDOR to assign all its rights
and receivables under this Contract in favor of a bank or a government or private financial institution. In such case,
the VENDEE undertakes to conform to the said assignment and to perform faithfully all his/her obligations under this
Contract, The said assignment of rights and receivables shall be without prejudice to a deferred Real Estate
Mortgage on the Unit which may, immediately or thereafter, be required by the VENDOR or the assignee bank or
government or private financial institution for the purpose of securing the housing loan or financing package availed
of for the payment of the balance of the purchase price.
The VENDEE hereby appoints the VENDOR as his/her exclusive attorney-in-fact in a manner absolute and
irrevocable, to sign, receive and release the proceeds of the loan or of the assignment of rights and receivables
which the VENDOR shall apply to any and all obligations due from the VENDEE under this Contract, and to do any
and all other acts which may be necessary to pay the obligations of the VENDEE to the VENDOR; and for this
purpose, the VENDEE hereby ratifies and confirms any and all acts of the VENDOR in the execution of the Power Of
Attorney herein given.
10. TRANSFER OF TITLE AND OWNERSHIP OF UNIT. The VENDOR shall execute or cause the execution of
a separate Deed of Absolute Sale and the issuance of the Certificate of Title to the UNIT in favor of the VENDEE or
his/her assign, thereby conveying to the VENDEE or his/her assign, the title, rights and interests in the UNIT
10.1. The withholding tax or its equivalent tax on the sale of the UNIT shall be for the account of
the VENDOR, while the value added tax, if any, documentary stamp tax, transfer tax, registration fees, and
any and all other fees and expenses required to transfer title to the UNIT in the name of the VENDEE shall
be for the account of the VENDEE.

10.2. The title, rights and interests in the UNIT shall be free from and clear of any and all kinds
of liens and encumbrances, subject, however to the provisions of the Subdivisions and Condominium Act,
the Articles of Incorporation and By-Laws of the Homeowners’ Association, zoning regulations and other
restrictions on the use and occupancy of the property, as may be imposed by governmental and other
authorities having jurisdiction thereon, and such other restrictions and easements of record.

10.3. In the event that the Deed of Absolute Sale is executed prior to the VENDEE’s settlement
of association dues, electric and water deposits, insurance, and other advances/fees as may be imposed or
incurred due to VENDEE’s financing requirements, the VENDOR shall not deliver the UNIT or the Certificate
of Title to the UNIT, until such time that all of the VENDEE’s payables are settled in full.

11. WARRANTIES OF THE VENDOR. The VENDOR warrants and guarantees (a) the authenticity and validity
of the title to the UNIT, subject of this Contract, and undertakes to defend the same against all just claims of any and
all persons and entities; (b) that the title to the UNIT is free from and clear of any and all liens and encumbrances,
except for the mortgage, if any, referred to herein, and those provided in the Restrictions of the Projects; and (c) that
the UNIT is free from and clear of the tenants, occupants or squatters; and undertakes to hold the VENDEE, or
his/her assign, free and harmless from any liability or responsibility with regard to any such tenants, occupants or
squatters, or their eviction from the UNIT.

12. INCORPORATION BY REFERENCE. The VENDEE hereby agrees to be bound by all terms and conditions
on the Restrictions of the Project and the Articles of Incorporation and By-Laws of the Homeowners’ Association,
copies of which is duly furnished. The VENDEE further confirms that his/her obligations under this Contract shall
survive the full payment of the purchase price and the execution of the Deed of Absolute Sale
13. MISCELLANEOUS PROVISIONS.
13.1. The VENDEE warrants in full the truth of the representations made in the application for
the purchase of the UNIT, subject of this Contract, and any falsehood or misrepresentation stated therein
shall be sufficient ground for the cancellation or rescission of this Contract.
13.2. The VENDEE shall notify the VENDOR in writing of any change in his/her mailing
address. Should the VENDEE fail to do so, his/her address stated in this Contract shall remain his/her
address for all purposes, including but not limited to the transmitting or service of all notices, court summons
or messages relating to this Contract and/or required by law.
14. ENTIRE CONTRACT. This Contract constitutes and embodies the entire agreement between the parties
and cancels and supersedes all previous contracts or agreements between them, if any. No other terms and
conditions, verbal or otherwise, not herein expressly contained, shall affect, change or modify this Contract or alter
the provisions herein agreed open, unless such change, modification, extension, addition or alteration be in writing,
duly signed by both parties. Any and all acts of tolerance by the VENDOR, and execution of accommodation
contracts for the early release of loan proceeds of the VENDEE, shall not in any way be construed to change, modify
or otherwise amend this Contract.
 The VENDEE hereby certifies that the terms and conditions contained in this Contract have been read by
him/her in full, and/or translated to him/her in a language or dialect known and understood by him/her, and that
he/she understands the same and voluntarily binds and obligates himself/herself to faithfully and strictly comply
therewith.
15. SEPARABILITY. Should any stipulation, provision or any part of this Contract be declared unenforceable or
void by any court order or judgment, the other stipulations and provisions shall not be affected, and shall remain valid
and in full force and effect.
16. SURVIVABILITY. The Contract shall be valid and binding upon the heirs, executors, administrators,
successors and assigns of both the herein contracting parties.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this _________ day of
___________________________, 20_________, in______________________________ .
.

ZENAIDA G. PAULINO and DANILO D. PARAISO JR NORIEL A. LANDICHO

VENDOR VENDEE
TIN: ________________ TIN: 937-070-176

By: ___________________________________ With my marital consent.

BEVERLEY A. LANDICHO

Spouse

Signed in the Presence of

______________________________ ______________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
) S.S.

BEFORE ME, a Notary Public for and in ___________________________, this

_________________________ personally appeared the following persons with their respective Competent Evidence
of Identity (CEI), to wit:

Name CEI Date/Place of Issuance

ZENAIDA G. PAULINO and DANILO D. PARAISO JR _________________________
NORIEL A. LANDICHO

__________________________

Represented by:
___________________________ _________________________ __________________________
___________________________ _________________________ __________________________
___________________________ _________________________ __________________________
known to me and to me known to be same persons who executed the foregoing instrument and acknowledged to me
that the same is their free and voluntary act and deed, as well as that of the Corporation herein represented.
This document consisting of Seven (7) pages, including this page on which the Acknowledgment is written,
refers to a Contract To Sell of a house and lot unit situated in Block 6 lot 16 Sampaguita West Lipa City
and has been signed by the parties and their instrumental witnesses on each and every page thereof.
WITNESS MY HAND AND NOTARIAL SEAL on the date and at the place first above-written.

Notary Public

Doc. No. ________;

Page No. ________;
Book No. ________;
Series of ________.