CONTRACT OF SALE OF REAL ESTATE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT, made and entered into by and between:

The LICEO DEL VERBO DIVINO, INC. (formerly Divine Word University of
Tacloban, Inc.), with business address at Avenida Veteranos Tacloban City,
represented herein by its Corporate Secretary and Chief Operation Officer, FR. LUCIO
PEDRO DAYAG, SVD, Filipino, of legal age, single and with postal address at Avenida
Veteranos, Tacloban City, hereinafter referred to as the FIRST PARTY;

-and-

__________________________, of legal age, Filipino, single/married, and a

resident of _________________________________________________, hereinafter
referred to as the SECOND PARTY;

WITNESSETH: That—

WHEREAS, the FIRST PARTY is the absolute owner in fee simple of a real
property located at __________________ and more particularly described below as
lifted from the title:

TRANSFER CERTIFICATE OF TITLE NO. T- ______

(DESCRIPTION)

WHEREAS, the FIRST PARTY has offered the above-described real property for
land acquisition sale for a term of ______ YEAR/s to the SECOND PARTY, and the
SECOND PARTY is desirous to acquire the foregoing real property;

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

covenant herein contained, the FIRST PARTY does hereby agree to sell and dispose
the abovementioned parcel of land, unto and in favor of the SECOND PARTY, subject
to the following:

TERMS AND CONDITIONS

1. That the purchase price of the land area of ______ ( ) SQUARE METERS
shall be for a total amount of __________________ (PHP ) PESOS;

2. That upon the signing of this contract, the SECOND PARTY shall pay the
downpayment of_______________ (PHP ) PESOS;

3. Thereafter, the SECOND PARTY shall issue postdated checks in favor of the
FIRST PARTY to cover the balance of __________ (PHP ) PESOS at
___________(PHP ) per month for ____ consecutive months to
commence on the current month, demandable every 15th day of said
current month until ______ months thereafter;
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4. Upon fulfillment of the above conditions, the FIRST PARTY shall execute
and deliver the corresponding Deed of Absolute Sale in favor of SECOND
PARTY, who shall shoulder all necessary costs for the transfer of title.

5. That all expenses relative to the transfer of title, such as Capital Gains Tax,
transfer tax, Registration Fees, Documentary Stamps, land conversion
from agricultural to residential classification, documentation and notarial
fees and such other related expenses shall be borne exclusively by the
SECOND PARTY; while payment of Real Property Tax shall be for the
account of the FIRST PARTY;

6. That the FIRST PARTY warrants and binds itself to defend and hold the
SECOND PARTY free and harmless from any and all adverse claims, rights
or interests that third persons may now or in the future lay on the above
described properties; likewise, the SECOND PARTY warrants unto the
FIRST PARTY to comply with the schedule of payments as stipulated in
paragraphs 1, 2 and 3;

7. That in case of default of the SECOND PARTY to pay at least two (2)
consecutive monthly installments when due shall render the entire
balance due and demandable, or imposed 3% penalty charges, at the
option of the FIRST PARTY; or, the FIRST PARTY may exercise the other
option to extrajudicially rescind the contract and forfeit the downpayment
paid by the Second Party, but shall reimburse the SECOND PARTY only
one-half (1/2) of the total amount of installments paid pursuant to the
Maceda Law.

8. Both parties shall endeavor to exert all their best effort to amicably settle
any problems that may arise in this Contract. Any ACTIONABLE BREACH of
the provisions hereof, the venue of which shall be in Tacloban City,
Philippines.

IN WITNESS WHEREOF, the PARTIES hereto have hereunto set their hands
this ________________ at Tacloban City, Philippines.

LICEO DEL VERBO DIVINO, INC. SECOND PARTY:

First Party

By: ______________________ ______________________

Representative

SIGNED IN THE PRESENCE OF:

______________________ ______________________
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Republic of the Philippines )

City of Tacloban ) S.S.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public, this _________________ at Tacloban City,

personally appeared:
Competent Evidence of Identity

both 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 act and deed.

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

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