CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:This CONTRACT TO SELL is made and executed this 3rd day of August 201
byand between:of legal age, single, Filipino, and with residence and postal address hereinafterreferred to as the
"SELLER / VENDOR"
;
-AND-
Filipino and with residence and postal address at, hereinafter referred to as the
"BUYER / VENDEE"
.
WITNESSETH;
WHEREAS,

the
SELLER / VENDOR
is the absolute and registered owner of thefollowing motor vehicle, more particularly described as
follows:MAKE :SERIES:TYPE OF BODYYEAR MODELMOTOR NO. :SERIAL / CHASSIS NO.FILE NO. :C.R. NO. :NOW
THEREFORE, for and in consideration of the total sum of only (
Php
)Philippine currency, and of the covenants herein after set forth, the
SELLER /VENDOR
agrees to sell and the
BUYER / VENDEE
agrees to buy the aforesaid motorvehicle subject to the following terms and conditions:1. The
BUYER / VENDEE
shall pay a downpayment of Five Hundred Pesos (
Php
)Philippine currency, upon execution of this Contract to Sell;2. Possession to the aforesaid motor vehicle shall be delivered by
the
SELLER /VENDOR
to the
BUYER / VENDEE
upon the downpayment referred to herein;3. The balance of (
Php
) Philippine currency, shall be paid by the
BUYER / VENDEE
to the
SELLER / VENDOR
in 48 weeks consecutive equal installments at
SixHundred Forty
(
Php 640.00
) Philippine currency, per installment on everySaturday of the month. Otherwise, the
BUYER / VENDEE
, if unable to pay fourconsecutive equal installments, shall immediately turnover possession of thesubject motor vehicle to the
SELLER / VENDOR
immediately and all theinstallments already made shall be considered as mere rentals for the use of thesubject motor
vehicle;4. Upon full payment of the aforesaid purchase price, the
SELLER / VENDOR
shallsign and execute a
DEED OF ABSOLUTE SALE
in favor of the
BUYER / VENDEE
for the aforesaid motor vehicle, free from all liens and encumbrances whatsoever;5. All expenses arising out of or incidental
to the execution of the corresponding Deedof Absolute Sale, as well as registration fees required to transfer ownership to the