CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and executed this 1st day of November
2015 by and between:

___________, of legal age, Filipino, single/married to ________,

herein represented1 by Juanito S. Serrano Jr., of legal age,
Filipino, proprietor and managing director of PROPERTY FIRST
DEVELOPMENT AND MANAGEMENT CONSULTANCY, a sole
proprietorship with business address at Door 301 Lacima Bldg.
corner Duhat Camia St., Macarthur Highway, Matina Davao City,
Philippines,hereinafter referred to as the VENDOR;
-AND___________, of legal age, Filipino, single/married to ______
and a resident of __________, Philippines, hereinafter referred to as
the VENDEE;

WITNESSETH:
WHEREAS, the VENDOR is the lawful and registered owner of a parcel of land
covered by Transfer Certificate of Title (TCT) No. __________ containing an area
of ______ square meters, a copy of which is hereto attached and made an
integral part of this document;
WHEREAS, the VENDOR desires to sell, and the VENDEE agrees to buy,
a portion of the above-mentioned property or a total of __________ square
meters for a total consideration of ______________ Pesos;
NOW, THEREFORE, for and in consideration of the total purchase price
of ___________________ PESOS, the VENDOR hereby SELLS, TRANSFERS and
CONVEYS unto and in favor of the VENDEE, their successors and assigns, a
portion of the above-mentioned parcel of land, subject to the following terms
and conditions:
1 A Copy of the Special Power of Attorney is hereto attached and made an integral part
of this instrument
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1) PRICE AND PAYMENT: That the TOTAL CONTRACT PRICE for the
property shall be ____________ Pesos, Philippine Currency and shall be
payable as follows:
A. PAYMENT TERMS: That the Total Contract Price will be divided
into Sixty (60) equal payments;

B. MONTHLY PAYMENT: the Contract Price will be paid in monthly

payments of ____________, Philippine Currency;
C. INITIAL PAYMENT: That the BUYER shall make an initial
payment of the amount of _____________Pesos, Philippine
Currency, representing the first installment payment, which shall
be payable by the VENDEE prior to the signing of this Contract to
Sell;
D. INSTALLMENT PAYMENTS: The remaining balance in the amount
of ________________, Philippine Currency shall be paid on monthly
installment in the next Fifty Nine (59) months.
E. MODE OF INSTALLMENT PAYMENTS: the monthly installment
payments shall be due and payable every 1st day of each month.
Further, the VENDEE undertakes to pay the herein mentioned
monetary obligations punctually by depositing the same through
either of the VENDORS payment options without need of the
services of any collector, the details of which are as follows:
Bank
: METROBANK,
Swift Code
: MBTCTHMM
Branch
: Bajada Davao City, Victoria Branch
Account Name
:PROPERTY FIRST DEVELOPMENT AND
MANAGEMENT CONSULTANCY
Savings Account Number: 239-3-23927-619-0
Or via
Davao Payment Center: Property 1st Office
Address
: Door 301 La Cima Building, Duhat
Corner Camia Sts.,
Mc. Arthur
Highway, Matina, Davao City, Philippines
Contact Person : Coleen M. Florentino
Contact Number : (+63)925 - 6687172
Payment Hours : Mon-Sat 9AM -5PM
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After each of the installment payment has been made, the

VENDEE undertakes to inform the VENDOR of the payment made
by sending a scanned copy of the bank transaction receipt and/or
deposit slip or payment acknowledgement receipt to the latters
principal
office
or
email
address
at
property1st.acctg@gmail.com. Payments made directly to agents
and/or real estate brokers shall be under the sole and exclusive
responsibility of the VENDEE. In cases, wherein the client wants
an Official Receipt as proof of payment, a 12% VAT will be added to
the amount.
F. DEFAULT PAYMENT: In the event that the VENDEE fails/defaults
in payment of at least Three (3) consecutive monthly
installments, the VENDOR shall impose a penalty equivalent to
two (2%) PERCENT compounded monthly of the total amount due
on any delayed payment.

Upon failure of the VENDEE to pay any installment as

specified above, or to comply with any of the terms herein
mentioned, the VENDOR may cancel this Contract, without
necessity for court intervention or declaration to that effect, by
giving the VENDEE a written notice of cancellation at the address
as specified and provided by the latter in this Contract. Any
refund, in proper cases, shall be governed by Republic Act 6552,
less:
i)
ii)
iii)
iv)

Interests and penalties accrued as of the date of

cancellation;
An amount equivalent to TEN (10%) PERCENT of the
Total Contract Price as liquidated damages;
The agents or real estate brokers commission;
Any unpaid dues on the property, without prejudice to
the application of other provisions of this Contract;

2) TITLE: Title to the said parcel of land shall remain in the name of the
VENDOR until full payment by the VENDEE of all obligations herein
stipulated at which time the VENDOR agrees to execute a final Deed of
Sale in favor of the VENDEE and cause for the delivery of a duplicate
Owners copy of certificate of title covering the said parcel of land to the
latter, free from liens and encumbrances except those by the authorities.
In the event the VENDEE is not available to receive the Duplicate
Owners Copy of Title, the latter has to execute a SPECIAL POWER OF
ATTORNEY in favor of the person who will receive the title in his/her
behalf;

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3) NOTICE: That notice(s) sent to the VENDEE by the VENDOR, either

through personal delivery or registered mail, at the address as specified
and provided by the VENDEE in this Contract, shall be binding on the
VENDEE regardless of whether or not actually received by the VENDEE,
and shall be considered as sufficient compliance with all requirements of
notice for purposes of this Contract and related laws governing
transactions of this nature;
4) OCCUPANCY: The VENDEE shall be allowed to occupy the said parcel of
land upon FULL payment of the Total Contract Price as specified herein;
5) TRANSFER EXPENSES: Notarial fee, transfer fee, registration fee,
documentary stamps and other fees relative to the transfer of title shall
be for the account of the VENDEE;
6) PENALTY IN CASE OF LITIGATION: In the event of any breach of the
terms and conditions of this Contract by the VENDEE and the VENDOR
is compelled to seek judicial relief and/or to protect its rights for redress
or grievances under this Contract, the VENDEE binds himself/herself to
pay the VENDOR attorneys fees equivalent to TWENTY (20%) PERCENT
of the total amount of claim, but in no case shall be less than TWENTY
THOUSAND (Php 20,000.00) PESOS aside from damages, costs of the
litigation and other expenses incurred thereby;
7) CHANGE OF ADDRESS: The VENDEE agrees that if there is any change
of address which has been previously specified and provided by the
VENDEE in this Contract, the VENDEE undertakes full responsibility in
informing or giving written notice to the VENDOR within five (5) days
from the occurrence thereof; and failure of the VENDEE shall not, in any
way, prejudice the VENDOR;
8) DISCLOSURE: That the VENDEE fully understands that the property
made subject of this Contract pertains to a RAW LOT PARTITION;
9) VALIDITY AND BINDING EFFECT: This Contract shall be valid and
binding upon the heirs, executors, administrators and assigns of both
parties. It is further agreed that the venue of any court action which may
arise from this Contract shall be in the proper courts of Davao City only.
Invalidation of this covenant or any part thereof by court order shall, in
no way, affect the rest of the provisions herein, which shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties have hereunto affixed their
signatures,
this
__________
day
of
_____________
at
_____________________________, Philippines.
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NAME OF SELLER
Hrerein represented by JUANITO S. Serrano, Jr.

______________
Buyer
With Marital conformity:
Name of wide/husband of seller/lot owner: ________________

SIGNED IN THE PRESENCE OF:

______________________

&

_____________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
City of Davao
) SS.
BEFORE ME, a Notary Public for and in Davao City, Philippines,
this________________, personally appeared the following persons with their
respective competent evidence of identity:
NAME
NUMBER
__________________________
___________________
__________________________
___________________
__________________________
___________________
__________________________
___________________
__________________________
___________________

ID TYPE

ID

_______________________
_______________________
_______________________
_______________________
_______________________

known to me to be the same persons who executed the foregoing instrument

and they acknowledged to me that the same are their free act and voluntary
deed and to the entities they respectively represent.
This instrument refers to a Contract to Sell consisting of five (5) pages,
including the page on which this acknowledgment is written, has been signed
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by the parties together with their instrumental witnesses on each and every
page hereof.
WITNESS MY HAND AND SEAL.

Doc. No. ........;

Page No. .......;
Book No. .......;
Series of 2015.

Notary Public

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