CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made and executed in, Quezon City, Philippines
onJuly 20, 2016 by and between:

EUGENE LABELLA, of legal age, Filipino citizen, and resident of House 69 E.

Rodriguez St., Quezon City, and hereinafter collectively referred to as
“VENDOR”
-and-

MARK LIGON, of legal age, Filipino citizen, with

residence and postal address No. 14, Dick Israel St., Brgy. Burgos, Quezon
City, hereinafter referred to as “VENDEE”

WITNESSETH: THAT-

WHEREAS, the VENDOR is the lawful and registered owner of a parcel of

land located at No. 33 Barangay Apitong, Quezon City, covered by TCT No.
060-2012345 issued by the Registry of Deeds for the City of Quezon City.
Such parcel of land is more particularly described as follows:

Area of FIVE HUNDRED SQUARE METERS (500 sqm) covered by Transfer

Certificate of Title No. 060-2012345 issued by the Registry of Deeds for the
City of Mandaluyong

WHEREAS, the VENDEE has offered to buy and the VENDOR has agreed to
sell the above-described parcel of land subject to the terms and conditions
hereinafter sethforth.

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

the payment of the agreed purchase price in the manner and form herein
stipulated, the VENDOR hereby agrees to SELL, TRANSFER and CONVEY
unto the VENDEE his heirs, assigns and successors-in-interest, and the
VENDEE hereby agrees to BUY the PROPERTY subject to the following
terms and conditions:
Contract Price:

The contract price for the sale of the PROPERTY shall be TWO FIVE
HUNDRED MILLION PESOS (P2,500,000.00), Philippine Currency;

Down Payment:
Upon the execution of this Contract to Sell, the VENDEE shall make an
initial down payment SEVEN HUNDRED THOUSAND PESOS (Php:
700,000.00), Philippine Currency.

Balance of Purchase Price:

The remaining balance of ONE MILLION AND EIGHT HUNDRED THOUSAND

PESOS (Php: 1,800,000.00) shall be paid within THREE HUNDRED SIXTY
FIVE (365) days from the execution of this Contract to Sell.

Execution of Absolute Deed of Sale and Delivery of Transfer Tax Title, Tax
Declaration and Tax Clearance Certificate:

Upon completion of payment of the balance purchase price above

stipulated and other obligations set forth hereto, the VENDOR shall execute
and deliver to the VENDEE a final DEED OF ABSOLUTE SALE, CONVEYING,
SELLING, CEDING AND/OR TRANSFERRING the above-described property,
free and clear of all liens and encumbrances except those found therein at
the time of the execution of this document, thereafter the VENDOR shall
cause the issuance of Transfer Certificate of Title under the name of the
VENDEE covering the subject parcel of land, it being understood, however,
that expenses for capital gains tax and documentary stamp tax, transfer tax
and other Registration Fees shall be borne exclusively by the VENDEE.

Miscellaneous
The VENDEE shall only have the right to take possession over the property
only after the execution of the Deed of Absolute Sale by the parties. This
agreement shall 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; 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 20th day of July at 2016.

EUGENE LABELLA
VENDOR

MARC LIGON
VENDEE

SIGNED IN THE PRESENCE OF:

RALPH ATMOSFERA

JOHN BUENO
ACKNOWLEDGMENT
Republic of the Philippines

)
) S.S.

I certify on this date JULY 20, 2016 before me, a notary public duly
authorized in the city named above to take acknowledgments, personally
appeared EUGENE LABELLA and MARC LIGON:

who are known to me personally because they were my classmates in High

School and were identified by me to be the same persons described in the
foregoing CONTRACT TO SELL, who acknowledged before me that their
respective signatures on the instrument were voluntarily affixed by them
for the purposes stated therein, and who declared to me that they have
executed the instrument as their free and voluntary act.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my

notarial seal on the day, year and place above written.
Doc. No. 318;
Page No. 64;
Book No. IV;
Series of 2016.

Notary Public