ANNEX A

CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS: This CONTRACT TO SELL, made and executed this 30th day of June, 2013, by and between: SPOUSES RONALDO LIM & JANET LIM, both of legal age, Filipino citizens, and with residence and postal address in Brgy. VIII, Daet, Camarines Norte, hereinafter referred to as the "FIRST PARTY"; -ANDSPOUSES DOMINGO LOCSIN and EUGENE LOCSIN, both of legal age, Filipino citizens, and with residence and postal address in Brgy. Lag-on, Daet, Camarines Norte, herein referred to as the "SECOND PARTY"; WITNESSETH: WHEREAS, the FIRST PARTY, are the absolute and registered owners of parcel of land, particularly described as follows: A PARCEL OF LAND (Lot 9 Block 2, Psd-05-022167), situated in the Brgy. of Lag-on, Municipality of Daet, Province of Camarines Norte, Island of Luzon. Bounded on the NW., by Lot 7, Blk 2, on the NE., by Lot 10 Blk 2; on the SE., by Lot 11, Blk 2; and on the SW., by Legal Easement 23 . Containing an area of ONE THOUSAND FIVE HUNDRED TWENTY (1,520) SQUARE METERS. Covered and embraced by Transfer Certificate of Title No. 079-2010000649. Declared for Taxation purposes under ARP No. GR-2011-GG-01-002-01234. WHEREAS, the SECOND PARTY has offered to buy and the FIRST PARTY has agreed to sell the abovedescribed property under the terms and conditions herein below set forth; NOW THEREFORE, for and in consideration of the total sum of TWO MILLION FOUR HUNDRED THOUSAND PESOS (Php2,400,000.00), Philippine Currency, and of the covenants hereinafter set forth, the FIRST PARTY agrees to sell and the SECOND PARTY agrees to buy aforesaid parcel of land subject to the following terms and conditions: 1. That upon execution of this contract the SECOND PARTY shall pay the FIRST PARTY the amount of FIVE HUNDRED THOUSAND (Php500,000.00) PESOS, Philippine currency as EARNEST MONEY which shall be deducted from the total consideration; 2. That the SECOND PARTY shall have until December 31, 2013 to pay the total consideration, otherwise, this contract shall be deemed rescinded, and the earnest money shall be forfeited in favor of the FIRST PARTY; 3. That as a security, the SECOND PARTY shall issue the FIRST PARTY a post dated check corresponding to the amount of the balance which is ONE MILLION NINE HUNDRED THOUSAND ( PhP1,900.000.00) PESOS, Philippine currency which shall be funded on or before the stipulated period of completion of the sale; 4. That the FIRST PARTY obligates themselves not to offer for sale or to sell, in whole or in part, the above-described property to other person or entity within the stipulated period given to the SECOND PARTY to pay the total consideration; 5. Upon full payment of the total price, possession to the subject property shall be delivered by the FIRST PARTY to the SECOND PARTY and the FIRST PARTY shall sign and execute a DEED OF

ABSOLUTE SALE in favor of the SECOND PARTY. The FIRST PARTY shall likewise execute and/or deliver any and all documents including but not limited to the original copy of Transfer Certificate of Title, Tax Declaration and all other documents necessary for the transfer of ownership from the FIRST PARTY to the SECOND PARTY. 6. Any delay in the exercise of or omission to exercise any right, power or remedy accruing to the FIRST PARTY under this Contract to Sell shall not impair any such right, power, or remedy, or be considered as a waiver thereof, nor shall the waiver by the FIRST PARTY of any breach of any of the provisions be construed as a waiver of a succeeding breach of such provision or as a waiver of the provision itself. 7. Should it become necessary for either party to engage the services of counsel to protect their respective rights and interest under this Contract to Sell, the guilty party agrees to pay the innocent party reasonable attorneys fees, plus costs and incident al expenses, aside from principal claims. IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this 30th day of June, 2013, in Daet, Camarines Norte.

RONALDO LIM First Party

JANET LIM First Party

DOMINGO LOCSIN Second Party

EUGENE LOCSIN Second Party

Signed in the presence of: (signature over printed name) ________________________ ________________________ MAXIMA DIMAGIBA MARCOS MATIBAY ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES PROVINCE OF CAMARINES NORTE MUNICIPALITY OF D A E T ) )SS. )

BEFORE ME, a Notary Public for and in the Province of Camarines Norte, this 30th day of June, 2013, personally appeared the above-named persons, made known to me through their competent proofs of identification which they presented before me, to me known to be the same persons who executed the foregoing instrument which they acknowledged before me as their free and voluntary act and deed. This Instrument refers to a CONTRACT TO SELL of a parcel of land, consisting of two (2) pages, including the page on which this acknowledgment is written, signed on every page by the concerned parties and their instrumental witnesses. WITNESS MY HAND AND SEAL on the date and place first above cited.

Doc. No. 99 Page No. 20 Book No. XIX Series of 2013

ATTY. NIMFA BELARDO Notary Public Until December 31, 2014 Roll of Attorney No. 110607 IBP No, 1206995, 01-04-2013 D.CN PTR No. 676767, 01-03-2012 D.CN MCLE IV Compliance No. 899898

Daet, Camarines Norte