CONTRACT OF SALE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Sale entered this 6th day of January 2022 by and between:

Heirs of BASILIO INAY, represented in this Contract by ROLDAN T. SOLIVEN, Filipino, of legal age,
resident of Fusina, Camalaniugan, Cagayan, herein referred to as SELLER.

-and-

EMME TRADING CO., INC., a corporation duly organized and existing under and by virtue of the laws of
the Philippines, with business and postal address 283 ML. Quezon, Purok 4, Lower Bicutan, Taguig City,
represented by MGen. GEORGE Q. PIANO (Ret.), referred to as the “BUYER”

WITNESSETH THAT:

1. THE SELLER- The Seller are the heirs of the registered owner of a parcel of land subject of this
Contract and are represented by Roldan T. Soliven by virtue of a Special Power of Attorney
which forms part of this agreement.

2. SUBJECT PROPERTY - The subject property is an unregistered parcel of land Lot 418 PLS 607-D
situated in Fusina, Municipality of Lal-lo, Province of Cagayan with Tax Declaration/ARP No. 12-
16018-10225 registered in the Municipality of Lallo consisting of seventy five thousand seven
hundred fifty five (75,755) sq.m, more or less, as per DENR certification dated March 10, 2020,
and particularly described as follows:
3. PURCHASE PRICE - The purchase price of the Subject Property is thirty five (Php 32.50) pesos
per square meter, for a total of two million four hundred sixty two thousand thirty seven pesos
and fifty centavos (PHP 2,462,037.50), subject to the provisions of paragraphs 4, 5, 6, and 7
hereof.
4. TAXES - The BUYER shall bear the cost of Capital Gains Tax, estate taxes, property taxes, real
property tax for 2021, Documentary Stamp and Transfer Taxes, registration, and conversion.
5. TERMS OF PAYMENT - The purchase price shall be paid by the BUYER to the SELLER under the
following schedule:

DATE PARTICULAR AMOUNT REMARKS

5 January 2022 Downpayment 500,000.00 Upon signing of this agreement
05 February 2022 1st Installment 981,018.75 Upon submission of complete
documents
05 March 2022 2nd Installment 981,018.75 Signing of Deed of Sale or related
documents
TOTAL 2,462,037.50

6. WARRANTIES - The SELLER warrant that:

a. They have valid, genuine, lawful, registerable, and absolute ownership of the
aforesaid property.
b. There are no legal impediments
c. That the BUYER shall, upon signing of this contract and made down payment
unto the SELLER, have peaceful and undisturbed possession of the property.
d. That the parties upon full payment shall sign the Deed of Absolute Sale.
e. That the SELLER shall help the BUYER in the registration and land-use conversion
processes such as, but not limited to, supply of necessary documentary
requirements.

7. MISCELLANEOUS
a. The Parties hereby represent that this entire agreement has been read,
understood and accepted by them.
b. This instrument shall bind the parties, their heirs, successors-in-interest and
assigns, and embodies all the agreement between them, unless amended by a
subsequent agreement embodied in a public instrument.
c. Any modification, revocation or amendment to each or every stipulation set
forth above shall have no legal effect on either party herein unless consented or
ratified by both parties herein.
d. Nowhere from the stipulations set forth above shall be construed as a waiver on
the part of either party to institute legal action against each other for the breach of
any terms and conditions under this contract.

IN WITNESS WHEREOF, the parties have set their hands this 6th day of January 2022 in
Bulala, Camalaniugan, Cagayan.
 SELLER BUYER

Heirs of BASILIO INAY EMME TRADING CO., INC

Represented by: Represented by:

ROLDAN T. SOLIVEN MGen. GEORGE Q. PIANO (Ret)

SIGNED IN THE PRESENCE OF:

________________________ ________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

________________________ ) S.S.

BEFORE ME, on this ___________________ personally appeared the following individuals with
their respective valid competent proof of identification:

PARTIES: COMPETENT IDENTIFICATION:

Heirs of BASILIO INAY represented by:
ROLDAN T. SOLIVEN
GEORGE Q. PIANO

known to me and to me known to be the same persons who executed the foregoing Contract of
Sale and they acknowledged before me that the same is their free and voluntary act and deed.

This Contract of Sale consists of three (3) pages, including this acknowledgment page.

Doc. No. :_______

Page No.:_______
Book No.:_______
Series of 2022.