CONTRACT OF SALE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this ___ day of ____________, 20__, by and between:

_________________, of legal age, Filipino citizen, widower and a resident of

__________________________, and all hereinafter referred to as the SELLER,

– AND –

__________________, of legal age, Filipino citizen, married and a resident of

______________________, and hereinafter referred to as the BUYER;
W I T N E S S E T H:

WHEREAS, the SELLER/S is the registered and are lawful heirs of the deceased
________________________ for a parcel of land located at _______________________________,
Bulacan, with a total area of __________________________ (______) square meters, embraced by
Transfer Certificate Of Title No. _______________, issued by the Registry of Deeds of Meycauayan
City;

NOW THEREFORE, for and in consideration of the foregoing premises, the SELLERS
offered to sell and the BUYERS agrees to buy the above described whole parcel of land subject to the
following terms and conditions which shall be an integral part of this contract:

1. The total consideration shall be THIRTEEN MILLION ONE HUNDRED EIGHTY-FIVE

THOUSAND FIVE HUNDRED FORTY-FIVE PESOS AND 91/100 (PHP13,185,545.91)
Philippine Currency, payable as follows:

a.) The amount of FIVE MILLION PESOS (PHP5,000,000.00), Philippine Currency shall be
payable in dated check/manager’s check by the BUYERS to the SELLERS upon signing of
this Contract;

b.) The amount of FOUR MILLION PESOS (PHP4,000,000.00), Philippine Currency shall be
payable in dated check/manager’s check by the BUYERS to the SELLERS on January 20,
2021;

c.) The amount of FOUR MILLION ONE HUNDRED EIGHTY-FIVE THOUSAND FIVE
HUNDRED FORTY-FIVE PESOS AND 91/100 (PHP4,185,545.91), Philippine Currency
shall be payable in dated check/manager’s check by the BUYERS to the SELLERS on
January 30, 2021;

2. The BUYERS is hereby authorized by the SELLERS to occupy and use the property upon
signing of this contract;

3. Estate Tax, Documentary Stamp Tax, Transfer Tax, Publishing, Registration Fees, all other
miscellaneous fees and expenses pertaining to the processing and payment of Estate Tax shall be
for the account of the SELLERS (deducted already from the total consideration amount);

4. Capital Gain Tax, Documentary Stamp Tax, Registration Fee, and all other miscellaneous fees
and expenses including agent’s commission shall be for the account of the SELLERS (deducted
already from the total consideration amount);

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 5. Real property tax up to the present year shall be for the account of the SELLERS.

6. The SELLERS shall be responsible to the tenant/s to vacate the property until _____________.

7. Upon full payment of the total price, the SELLERS shall give the original copy of Transfer
Certificate of Title, Tax Declaration and all other documents needed and shall likewise execute
EXTRAJUDICIAL SETTLEMENT OF ESTATE WITH DEED OF ABSOLUTE SALE to pay
estate taxes/fees and to transfer full ownership unto the buyer.
8. That the SELLERS hereby warrant that the said Transfer Certificate Of Title No.
________________ is wholly free from all liens and encumbrances and that the SELLERS
will defend the same from any and all claims of whosoever nature or kind.

IN WITNESS WHEREOF, the parties have hereunto affixed their respective signature this ___ day of
_______________, 20____, at ______________________________.

_______________________________ ______________________________

SELLER SELLER

____________________________________
SELLER

__________________________ _________________________
BUYER BUYER

W I T N E S S E S:

____________________________ _____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF_______________________) S.S.

BEFORE ME, a Notary Public for and in this _____ day of _____________, 20___, at _____________________,
personally appeared the above-named persons, who has satisfactorily proven to me their identity through their
identifying documents written below their names and signatures, that they are the same persons who executed and
voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above written.

NOTARY PUBLIC
Doc. No. ________,
Page No. ________,
Book No. _______,

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Series of 20_____.