CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL is made by and between:

RICHARD T. GOMEZ, of legal age, single, Filipino, and with

residence at 20-J P. Del Rosario St., Cebu City, hereinafter referred to
as the “SELLER/VENDOR”;

-and-

LUCY O. TORRES, of legal age, Filipino, single, with residence at

Unit 1517, Flats Tower, Brgy. Mabolo, Cebu City, hereinafter referred
to as the “BUYER/VENDEE”.

W I T N E S S E T H:

WHEREAS, the SELLER/VENDOR is the absolute and registered owner

of a parcel of land located at 20-J, P. Del Rosario St., Cebu City with an
aggregate area of Two Hundred Twenty Five (225) square meters, more or
less, covered by Transfer Certificate of Title No. N-123456 issued by the
Registry of Deeds of Cebu City (the “Property”), more particularly described
as follows:

“A parcel of land (Lot No. 18, Blk. No. 5 of the subdn. Plan
Psd-10508, being a portion of Lot No. 3-C of plan Psd-7387, GLRO
Rec. No. 917), situated in the Bo. Of Talisay, Province of Cebu.
Bounded on the NE., by Lot No. 16 Blk. No. 5; on the SE., by Lot No.
19 Blk. 5 and on the NW., by Road Lot 6 (Manhattan) of the subdn.
Plan; Beginning at point marked “1” on plan, being S.77 deg. 30’W.,
6500.38 m. more or less; thence S.45 deg. 06’W., 15.00m. to point 4;
thence S.44 deg. 54’E., 32.00 m. to the point of beginning; containing
an area of TWO HUNDED TWENTY FIVE SQUARE METERS
(225), more or less. All points referred to to are indicated on the plan
and are marked on the ground by PLS conc. Mons. 15x60 cm.,
bearings true; declination 0 deg. 50’E., date of the original survey,
April 8, July 15, 1920 and that of the subn. Survey, Jan. 25-June 21,
1934.”

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER

/VENDOR has agreed to sell the above mentioned property under the terms
and conditions herein below set forth;

1
NOW, THEREFORE, for and in consideration of the total sum of Eight
Hundred Thousand (Php: 800,000.00) Philippine Currency, and of the
covenants herein after set forth the SELLER/VENDOR agrees to sell and the
BUYER/VENDEE agrees to buy the aforesaid property subject to the
following terms and conditions:

1. CONSIDERATION: The total consideration shall be Eight Hundred

Thousand (Php: 800,000.00) PESOS, Philippine Currency, paid and payable
as follows:

a) The amount of TWO HUNDRED THOUSAND (Php:

200,000.00) PESOS, representing earnest money shall be payable by
the BUYER/VENDEE to the SELLER/VENDOR upon signing of this
Contract to Sell;
b) The remaining balance in the amount of SIX HUNDRED
THOUSAND (Php: 600,000.00) PESOS, shall be paid in FOUR (4)
EQUAL MONTHLY INSTALLMENT [ONE HUNDRED FIFTY
THOUSAND PESOS (Php: 150,000.00) per month] from
FEBRUARY 10, 2019 up to JUNE 10, 2019 THRU POST-DATED
CHECK (PDC).

2. TAXES: Capital Gains Tax and Real Estate Tax, shall be for the account
of the SELLER/VENDOR;

3. MISCELLANEOUS FEES AND EXPENSES: Documentary Stamps

Tax, Registration Fee, registration expenses, and all other miscellaneous fees
and expenses shall be to the account of the BUYER/VENDEE;

4. POSSESSION: Possession to the subject property shall be delivered by

the SELLER/VENDOR to the BUYER/VENDEE upon full payment of total
consideration;

5. EXECUTION OF DEED: Upon full payment of the total price, the

SELLER/VENDOR shall sign and execute a DEED OF ABSOLUTE SALE
in favor of the BUYER/VENDEE. The SELLER/VENDOR 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
SELLER/VENDOR to the BUYER/VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their

signatures, this 10th day of February 2019 at Cebu City, Philippines.

2
RICHARD T. GOMEZ LUCY O. TORRES
Seller/Vendor Buyer/Vendee

SIGNED IN THE PRESENCE OF:

JUANA DELA CRUZ PEDRO ARROYO

Witness Witness

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF CEBU ) SS.

BEFORE ME, a NOTARY PUBLIC for and in the above jurisdiction,

personally appeared the following persons:

Name Identification No.

Date and Place of
Issue
RICHARD T. Land Transportation issued on 5 May 2018
GOMEZ Office Non- and which expires on
Professional Driver’s 15 May 2023.
License No. N-26-04-
089769
LUCY O. TORRES Land Transportation issued on 12 August
Office Non- 2018 and which expires
Professional Driver’s on 22 August 2023.
License No. N-24-01-
123456

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

and they acknowledged to me that the same is their own free and voluntary
act and deed.

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

WITNESS MY HAND AND SEAL on this 10th day of February 2019 at

Cebu City, Philippines.

3
 JABAR A. SABDULLAH
Notary Public – Cebu City
Appointment No. M-308
Until December 31, 2014
Roll No. 60789
PTR No. 10064532, 1-20-12
IBP No. 989977, 1-23-12 CaMaNaVa
Doc. No.; Office – 5th Flr., Atlantica Bldg.,
Page No. ; Malinta, Valenzuela City
Book No. ;
Series of 2019.