CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and entered by and between:

____________________________, [single/married], Filipino, of legal age,

and a resident of _______________, hereinafter referred to as the VENDOR;

- and -

____________________________, [single/married], of legal age, Filipino,

and a resident of _________, hereinafter referred to as the VENDEE;

W I T N E S S E T H: That -

WHEREAS, the VENDOR is the registered owner of a parcel of land situated at

_________________, covered by Transfer Certificate of Title (TCT) No. _______, a copy of
which is attached hereto and made an integral part hereof as Annex “A” (the “Property”),
more particularly described as follows:

Transfer Certificate of Title No. _______

[Insert description]

WHEREAS, the VENDOR is willing to sell, transfer and convey, and the VENDEE
are willing to purchase, the Property, under the terms and conditions stipulated hereunder;

NOW, THEREFORE, for and in consideration of the foregoing premises and the
covenants hereinafter set forth, the Parties hereby agree as follows:

1. Subject to the subdivision of the Property and payment of the consideration in

accordance with Section 2 hereof, the VENDOR hereby agrees to sell, transfer and convey the
Property to the VENDEE, and the VENDEE hereby agree to purchase the same. For clarity, the
VENDOR shall still be the owner of, and maintain possession over the Property until full payment of
the consideration.

2. In consideration for the purchase of the Property, the VENDEE shall subdivide the
Property and pay the VENDOR the amount of PESOS:_________________ (PHP
____________.00) (the “CONTRACT PRICE”), payable as follows:

a). PESOS: ________________ (PHP ____________.00), upon the

execution of this Contract. For the avoidance of doubt, this amount shall form
part of, and shall be deducted from the CONTRACT PRICE.

b). The balance of PESOS: _______________ (PHP

______________.00) shall be paid on or before __________ (the “CLOSING
DATE”), in cash or thru a Manager’s Check. Simultaneous to the payment of
the balance referred to herein, the parties shall execute a Deed of Absolute
Sale.

On or prior to the CLOSING DATE, the VENDOR shall not entertain any purchase
offers from other parties.

3. In the event the VENDEE fail to subdivide the Property and/or pay the full
amount of the CONTRACT PRICE on CLOSING DATE, the Pesos:_____________
(PHP___________.00) referred to in Section 2(a) shall be forfeited in favor of the VENDOR
as liquidated damages for the breach, and that this Contract to Sell shall automatically and
without further formality be cancelled.

4. In the event the VENDOR fails to execute the Deed of Absolute Sale over the
Property upon the VENDEE’ tender of the balance referred to in Section 2(b) on or before
the CLOSING DATE, the VENDOR shall pay the VENDEE the amount of PESOS:
_______________ (PHP _____________.00), to constitute the return of the amount under
Section 2(a) as well as liquidated damages.

5. The VENDOR shall pay the capital gains tax and notarial expenses and shall
likewise pay and update estate taxes, real property taxes and other taxes relating to the
Property up to the time of full payment of the CONTRACT PRICE by the VENDEE. On the
other hand the VENDEE shall pay the documentary stamp tax, local and transfer taxes, and
all costs and expenses for the registration of the sale, the transfer of title and all other
Register of Deeds related costs, fees, charges, and other miscellaneous and incidental
expenses.

6. On the CLOSING DATE and upon execution of the Deed of Absolute Sale
referred to in Section 2(b), the VENDOR shall convey, submit and turn-over to VENDEE the
following documents to enable the transfer and registration of the Property in favor of
VENDEE:

6.1. Tax Clearance Certificate for the update payment of the Real
Property Taxes and other applicable taxes on the property up to the Closing
Date. However, any advance payment made by the VENDOR for a period
beyond the CLOSING DATE shall be reimbursed by the VENDEE;

6.2. Owner’s Duplicate copy of the TCT over the Property, original
copies of all documents relating to the Property and all other documents and
records in the possession of the VENDOR that will enable the VENDEE to
immediately register the same under his name.

7. The VENDOR hereby represents and warrants to the VENDEE that:

a) The VENDOR is the absolute, exclusive, lawful, registered and

beneficial owners of, and have all the rights, title and interest in and to, the
Property;

b) The Property is free and clear of any and all liens, claims,
encumbrances, preferential rights, security interest and other similar or
analogous rights or interests;

c) There are no accounts payable that pertain or accrue to, nor any
outstanding obligation in respect of any contract pertaining to, nor any
outstanding liability to any third party in respect of, the Property by virtue of
which statutory liens or other encumbrances may be imposed or attached
thereto;

e) No suit, action or proceeding before any governmental authority is

pending or, to the best of their knowledge, threatened which may affect their title
to or right to the possession of the Property, and no judgment or order has been
issued which has or is likely to have any adverse effect on such title or right of
possession; and

f) The obligation of the VENDOR under this Contract and all other
agreements related hereto constitute their legal, valid and binding obligations,
enforceable in accordance with the terms thereof.
 IN WITNESS WHEREOF, the said parties have hereunto set their hands this
_______ day of ________ at __________ City, Philippines.

______________________ ______________________
SELLER BUYER

SIGNED IN THE PRESENCE OF:

__________________________ __________________________
 ACKNOWLEDGMENT

Republic of the Philippines )

) S.S

BEFORE ME this __________ day of ______ 2020 at _________________,

personally appeared the following persons, who are identified by me through competent
evidence of identity:

Name Competent Evidence of Identity Date & Place Issued

known to me and to me made known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their own free voluntary act and deed.

This instrument refers to a Contract to Sell consisting of four (4) pages including this
page on which the acknowledgment is written and duly signed by the parties and their
instrumental witnesses on each and every page thereof.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place first above
written.

Doc. No. ___;

Page No. ___;
Book No. ___;
Series of 2020.