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Republic of the Philippines)

Bacolod City )
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CONTRACT TO SELL WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL WITH ASSUMPTION OF MORTGAGE is

entered into this _____________ in Bacolod City, Philippines, by and between:

CELESTE C. DORIA, of legal age, single, Filipino, and a resident of Block

24, Lot 20, Kiwi St., East Homes Subdivision, Brgy. Mansilingan, Bacolod City,
Philippines, hereinafter referred to as “VENDOR”;

-and-

EMERALD JOY Q. SACARE, of legal age, single, Filipino, and a resident

of Block 12, Lot 25, Nankin St., Deca Homes, Brgy. Cabug, Bacolod City,
Philippines, hereinafter referred to as “VENDEE”;

-witnesseth that-

WHEREAS, the Vendor is the registered owner of a parcel of land situated

East Homes, Brgy. Mansilingan, Bacolod City, Philippines, covered by TCT No.
092-2014006976, with an area of One Hundred Square Meters (100 sq. m.),
particularly described as follows:

A PARCEL OF LAND ( LOT 27, BLOCK 16, OF

THE CONS.-SUBD PLAN, PSD-06-081491,
BEING A PORTION OF THE CONS. OF LOT
934-C-1, PSD 06-049866, SITUATED IN THE
BARANGAY OF MANSILINGAN, CITY OF
BACOLOD, ISLAND OF NEGROS, BOUNDED
ON THE SE., ALONG LINE 1-2 BY LOT 26,
BLOCK 16 (PSD-06-081491) ON THE NW.,
ALONG LINE 4-5 BY LOT 28, BLOCK 16 (PSD-
06-081491); ON THE NE., ALONG LINE 5-1 BY
ROAD LOT 15 (PSD-06-081491), ALL
IMPROVEMENTS THEREIN AND WHATEVER
IMPROVEMENT THAT MAY BE INTRODUCED
THEREAFTER.

WHEREAS, the above-described parcel of land together with all its

improvements is mortgaged in favor of PAG-IBIG under Housing Loan Account
No. 359003198718;

WHEREAS, the Vendor warrants that she is the owner of the above-
described property with only the mortgage annotated on the title serving as an
encumbrance thereto;
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WHEREAS, the Vendor desires to sell, cede, convey and transfer

absolutely in favor of the Vendee all her rights and interests over the Property
and the Vendee is willing to buy the same and binds herself to assume as she
assumes the payment of the unpaid balance of the mortgage indebtedness in
favor of PAG-IBIG;

NOW, THEREFORE, for and in consideration of the foregoing premises,

the parties hereto agree as follows:

1. The total consideration shall be ONE MILLION, FIVE HUNDRED

THOUSAND PESOS, (P1,500,000.00).

2. Upon the execution of this contract, the Vendee shall make an initial
payment of THREE HUNDRED THOUSAND PESOS (P300,000.00);

3. The remaining balance of ONE MILLION, TWO HUNDRED

THOUSAND PESOS, shall be payable within five (5) years, with an
interest of 5% per annum;

4. The Vendee shall make a monthly installment in favor of the Vendor in the
amount of TWENTY-FIVE THOUSAND PESOS (P25,000.00), which shall
start on May 15, 2024. Thereafter, the Vendee shall pay the said amount to
the Vendor at every 15th of every month, until fully paid.

5. The sale and transfer of the above-described property from the Vendor to
the Vendee shall be further subject to the following conditions;

a. The Vendee shall assume the loan obligations as security therefore,

hence the acquisition by the Vendee of the property described is subject
to the superior mortgage lien now and existing in favor of PAG-IBIG,
hence, the Vendee shall religiously or continue to pay the monthly
amortization until the balance of the PAG-IBIG loan is fully paid.

b. The Mortgage Agreement annotated in the title shall bind the Vendee
in the same manner and condition as if they were the original parties to
said agreements

c. The Vendee shall be responsible for any interest/penalties on the

delayed payment incurred for the Housing Loan.

d. All remedies, actions, equities, as well as any other rights of resources

enforceable by PAG-IBIG against the Vendor, shall now and therefore
be enforceable against the Vendee.

6. A Deed of Absolute Sale shall be executed by the Vendor upon the full
payment of the consideration sale of the afore-described parcel of land by
the Vendee;

7. The Capital Gains Tax, Documentary Stamp Tax, Transfer Tax,

Registration Fee, assessments, charges, and other incidental expenses for
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the transfer of the property and arising from the execution of this
agreement shall be on the account of Vendor;

8. The Vendee shall be responsible for maintaining and the payment of

utilities with CENECO, BACIWA, PLDT, or any other related utilities;

9. This agreement shall be inure to the benefit of, and be binding upon the
parties hereto and their respective heirs and assigns. If any part of this
agreement shall be deemed to be unenforceable or unlawful by a court of
competent jurisdiction, such termination shall have no effect on the
validity and enforceability of the other terms and conditions of this
Agreement, and the challenged term shall be deemed deleted.

10. This agreement constitutes the entire agreement between the parties and
supersedes all prior statements, representations, and agreements on this
subject matter.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this ____________________ at Bacolod City, Philippines.

CELESTE C. DORIA EMERALD JOY Q. SACARE

Vendor Vendee

Signed in the Presence of:

____________________________ ____________________________

ACKNOWLEDGEMENT
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REPUBLIC OF THE PHILIPPINES)

CITY OF BACOLOD ) S.S.
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BEFORE ME, A Notary Public for and in the City of Bacolod, Negros
Occidental, personally appeared the following with their Government-Issued ID:
CELESTE C. DORIA DL F01-20-08232
EMERALD JOY Q. SACARE UMID CRN 0111-3627674-7

Known to me and to me known to be the same person who executed the

foregoing instrument consisting of four (4) pages including the page on which
the acknowledgment is written, and she acknowledged to me that the same is her
free and voluntary act of deed.

WITNESS MY HAND AND SEAL this_________________ in the City of

Bacolod, Negros Occidental, Philippines.

Doc. No. ____________;

Page No. ____________;
Book No.____________;
Series of 2024.