CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

That AGREEMENT, made and entered into by and between:
I, GILBERT L. ABARRO married to KRISTER ANN O. ABARRO of legal age, Filipino citizen,
and resident of Block 6 Lot 7 Everlasting St. L.E. Village 2 Brgy. 5 Calamba City Laguna 4027
referred to as the SELLER under Special Power of Attorney executed on 3 rd of August 2023 and
identified as Doc No. 2423002381; Service No. 230803001000043; Series of 2023 of the Vice
Consul of the Republic of the Philippines of Ms. ANASTACIA B. OPEÑA in and for the Consular
District of Tokyo, Japan;
-AND-
I, DANIEL A. REYES III married to CHERRY M. REYES, both of legal age, Filipinos, and
resident of Block 3 Lot 4 Las Verandas Villas II Buhay Na Tubig Imus, Cavite, hereinafter referred
to as the BUYER.
W I T N E S S E T H:
WHEREAS, the SELLER is the registered owner of a property covered by Transfer
Certificate of Title No. (057-2011032252) 167-2016005319 situated at Block 5 Lot 23 Valencia
St. Bellazona Aragon Subd. Molino 3 Bacoor City, Cavite, with improvements and containing an
area EIGTHY SQUAREMETERS (80) identified as Block 5 Lot 23 Valencia St. Bellazona Aragon
Subd. Molino 3 Bacoor City, Cavite, and more particularly described as follows:
TRANSFER CERTIFICATE OF TITLE NO. (057-2011032252) 167-2016005319
A PARCEL OF LAND (LOT 23 BLK.5 OF THE CONS.-SUBD. PLAN, PCS-04-020084, BEING A
PORTION OF OF THE CONS. OF LOT 5517, IMUS ESTATE AND LOT 5515-B-2- PSD-04-089803,
L.R.A. REC. NO. ) SITUATED IN THE BRGY. OF MOLINO MUN. OF BACOOR, PROV. OF CAVITE.
BOUNDED ON THE SW., ALONG LINE 1-2 BY LOT 21 BLK. 5; ON THE NW., ALONG LINE 2-3 BY RD.
LOT 4; ON THE NE., ALONG LINE 3-4 BY LOT 25; ON THE SE., ALONG LINE 4-1 BY LOT 22 BOTH OF
BLK. 5, ALL OF THE CONS./SUBD. PLAN BEGINNING AT A PT. MARKED “1” ON PLAN, BEING N.37
DEG. 25’W., 1249.67 M. FROM MON. NO. 177, xxxxxxxxxxxxxxxxxxxxx-
WHEREAS, the SELLER had offered to sell the property covered by Transfer Certificate of
Title No. (057-2011032252) 167-2016005319 situated at Block 5 Lot 23 Valencia St. Bellazona
Aragon Subd. Molino 3 Bacoor City, Cavite with improvements and containing an area of EIGTHY
SQUAREMETERS (80) identified as Block 5 Lot 23 Valencia St. Bellazona Aragon Subd. Molino 3
Bacoor City, Cavite, to the BUYER and the BUYER acceded to buy in the amount of FOUR
MILLION PESOS ONLY (4,000,000.00).
That for and in consideration of the sum of of FOUR MILLION PESOS ONLY
(4,000,000.00), Philippine Currency, the SELLERS hereby conditionally SELLS, TRANFERS AND
CONVEYS unto the BUYER, her heirs, successors and assigns the above-described parcel of land
with improvements (residential house) thereon, under the following terms and conditions:
1. That the amount of THREE HUNDRED THOUSAND PESOS (PHP 300,000.00) shall be
paid by the BUYER as earnest money. Hence, the SELLER could no longer offer the
said property to other buyers.

2. That the remaining balance of THREE MILLION SEVEN HUNDRED THOUSAND PESOS
(PHP 3,700,000.00) shall be applied by the BUYER thru PAG IBIG HOUSING LOAN.
 3. That the BUYER shall be given a maximum of three (3) months to apply the said loan.
The BUYER hereby undertakes that they will provide all documents which shall be
needed by the Pag Ibig Housing Loan for the approval of the loan, Likewise the
SELLER shall provide all the documents which shall be needed for the approval of the
loan.

4. That incase the buyer had withdrawn and/or back-out the transaction, that the
amount of THIRTY THOUSAND PESOS (PHP 30,000.00) or 10% will be less to the
down payment settled to the SELLER

5. Incase the SELLER decides to cancel the transaction, or to withdraw from the
contract, the seller shall return whatever amount has been advance by the buyer
amounting THREE HUNDRED THOUSAND PESOS ONLY (PHP 300,000.00).

6. That the Capital Gains Tax, Documentary Stamps Tax, Registration Fee, Transfer Tax,
document expenses and other expenses in the transfer shall be for the account of
the BUYER.

7. That the Notarial Fee for Deed of Absolute Sale is shoulder by the BUYER.

8. Original Title to the above-described property subject of this contract remains with
the SELLER and shall pass to and be transferred to the BUYER upon the release of
letter of guarantee (LOG) to the SELLER.

IN WITNESS WHEREOF both parties hereunto set their hands this 30TH day of October, 2023 at
Bacoor City, Cavite, Philippines.

GILBERT L. ABARRO KRISTER ANN O. ABARRO

Seller Seller

ANASTACIA B. OPEÑA
Attorney-In-Fact

DANIEL A. REYES III CHERRY M. REYES

Buyer Buyer

IN WITNESS THEREOF:

____________________ _______________________
Witnessed Witnessed