CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL made and entered into this 1 st day of January 2013 at Lucena City, Philippines by and between:

ALBERT VILLANUEVA, legal age, married, Filipino citizen and a resident of No. 34, Little Baguio, Brgy. Ibabang Dupay, Lucena City, hereinafter referred to as the SELLER; -andALBERT AMRQUEZ legal age, married, Filipino citizen and a resident of No. 8 Sapphire Street, Maharlika Subdivision, Lucena City ____, and hereinafter referred to as the BUYER;

WITNESSETH: WHEREAS, the SELLER, is the absolute and registered owner of the following motor boat vehicles, more particularly described as follows:

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MAKE

: YAMAHA SPORTS COMPETITION EDITION

MODEL : 2011 COLOR : Black and Red BODY NO. : 1237845

-and-

MAKE

: HONDA 367

MODEL : 2010 COLOR : Gold and Silver BODY NO. : 367890

NOW, THEREFORE, for and in consideration of the foregoing premises and of the terms, conditions and covenants herein below set forth, the parties hereto stipulate as follows:

1) The BUYER shall pay the SELLER a total sum of Eight Hundred Thousand Pesos Only (P 800,000.00) with downpayment of Three Hundred Thousand Pesos Only (P 300,000.00) and the balance payable in twelve (12) months with six (6) percent interest;

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2) Upon full payment of the aforestated purchase price, the SELLER shall SELL, CEDE, TRANSFER and CONVEY unto the BUYER, his heirs and assigns, the motor vehicle above described, as free from all liens and encumbrances whatsoever;

3) All expenses arising out of or incidental to the execution of the corresponding Deed of Absolute Sale, as well as registration fees required to transfer ownership to the BUYERs name shall be for the exclusiv e account of the BUYER;

4) All fuel expenses as well as expenses for the maintenance, repairs, future insurance and registration fees of the subject motor vehicle shall, starting from the date of delivery thereof to the BUYER, shall be borne by the BUYER;

5) The SELLER may, at his option, advance funds required for repair, maintenance, rehabilitation, whenever deemed necessary and such amount advanced will be for the account of the BUYER with interest at the prevailing rate;

6) No delay or omission on the part of the SELLER in exercising any right granted under this Contract shall be construed as an abandonment or waiver thereof or variation of any provisions hereof.

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IN WITNESS WHEREOF, the parties have caused these presents to be signed this 1st day of January 2013 at the City of Lucena.

ALBERT VILLANUEVA SELLER

ALBERT MARQUEZ BUYER

Signed in the presence of:

RICARDO OABEL
CTC 24549584 658451 Issued at Brgy. Iba. Dupay, Lucena City Jan. 1, 2013

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ACKNOWLEDGMENT
Republic of the Philippines} CITY OF LUCENA}s.s.

BEFORE ME, personally appeared this 1st day of January 2013 at Makati City, Philippines:

ALBERT VILLANUEVA SELLER

CTC 23124382 657657 Issued at Brgy. Iba. Dupay, Lucena City Jan. 1, 2013

ALBERT MARQUEZ BUYER

CTC 2664382 648957 Issued at Brgy. Isabang, Lucena City Jan. 1, 2013

All known to me and to me known to be the same persons who executed the foregoing instrument and hereby acknowledged to me that the same is their free act and deed. This instrument consisting of five (5) pages, including this page on which this acknowledgment is written refers to a CONTRACT TO SELL and has been signed by the parties and their witnesses and sealed with my notarial seal. IN WITNESS WHEREOF, I have hereunto set my hand on the date and place first above written. ATTY. JOHN MARK SAPORNA NOTARY PUBLIC Until Dec. 31, 2018
Doc. No.___; Page No.___; Book No.___; Series ofD 2013.

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