EXHIBIT _Y

DEED OF ABSOLUTE SALE

(For House & Lot)

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF ABSOLUTE SALE, made and executed on this ___ day of
__________, 200__, at ________________________, Philippines, by and between:

____________________, single / married to _______________ (or

they can be described as Spouses depending on what is indicated in the title),
both of legal age, Filipino citizens and residents of
_______________________________, (add the following if represented
by an Attorney-In-Fact : represented in this Act by his/her/their duly-
authorized Attorney-In-Fact, ___________________, also of
legal age, single/married, Filipino citizen and a resident of
________________________________________, Philippines),
hereinafter referred to as the “VENDOR”;

- and -

_____________________, single / married to _______________

(or they can be described as Spouses depending on their choice), both of legal
age, Filipino citizens and residents of _______________________,
Philippines, (add the following if represented by an Attorney-In-Fact :
represented in this Act by his/her/their duly-authorized Attorney-
In-Fact, _______________________, also of legal age, Filipino
citizen and a resident of __________________________________,
Philippines), hereinafter referred to as the “VENDEE”;

W I T N E S S E T H:

WHEREAS, the VENDOR is the absolute and registered owner in fee simple, of
a parcel of land situated at _______________________________________, Philippines,
covered under Transfer Certificate of Title (TCT) No. __________ of the Registry of
Deeds for ____________________, with a total land area of _____ sq.m., which parcel
of land is more particularly described as follows:

SOURCE: REALTOR® Phil M. Coquia

 56
TRANSFER CERTIFICATE OF TITLE NO. _______________
(Registry of Deeds of ____________, ________, Philippines)___

“A parcel of land (Lot _, Block _ of the subdivision plan Psd-

xxxxxxxx; (copy the technical description shown on the title); xxxx all of the
subdivision plan. xxxxxxxxx containing an area of _______(copy the
area indicated after the technical description of the title)______ SQUARE
METERS (_____), more or less. xxxxxxx”;

inclusive of a ____(type of house)____ residential house with an

estimated floor area of _____ square meters;

hereinafter collectively referred to as the “PROPERTY”.

WHEREAS, the VENDOR is willing to sell, assign, transfer and convey unto the
VENDEE, the aforedescribed PROPERTY, and the VENDEE is willing to purchase and
acquire the same from the VENDOR, under the terms and conditions hereinbelow
specified;

NOW THEREFORE, for and in consideration of the foregoing premises and of all
the covenants stated hereinafter, the parties have agreed as follows:

1. That for and in consideration of the sum of PESOS: _____(amount in bold

capital letters)______________ (PhP______________), Philippine Currency,
(hereinafter referred to as the “Purchase Price”), receipt of which in full is
hereby acknowledged by the VENDOR, the VENDOR hereby sells, cedes,
assigns, transfers and conveys by way of absolute sale unto the VENDEE,
his/her/their successors and assigns, the aforedescribed PROPERTY;

2. The VENDOR agrees that he/she will assume sole and exclusive
responsibility for the payment of the applicable capital gains tax or creditable
withholding tax. The documentary stamp tax shall be for the account of the
________. The VENDOR agrees that the VENDEE shall withhold and/or
deduct the full amount of these taxes from the Purchase Price and that the
VENDEE shall immediately cause the issuance of the corresponding
manager’s checks made payable to the Bureau of Internal Revenue (BIR) and
shall be paid to the BIR within the period provided for in the relevant BIR
regulations. Likewise, the payment of the broker’s commission shall be the
sole responsibility of the VENDOR;

On the other hand, the VENDEE agrees to assume sole and exclusive
responsibility for the payment of all costs and expenses for the transfer of title
to his/her/their name(s) which include, but not limited to, the sale registration
fees, local transfer tax, transfer of title, notarial expenses, documentary
stamps, all Registry of Deeds-related expenses and such other miscellaneous
and incidental costs, expenses, fees and charges that would expedite and

SOURCE: REALTOR® Phil M. Coquia

57
 complete the process of transferring the ownership of and title of the
PROPERTY in the name of the VENDEE;

3. That the PROPERTY is covered by Tax Declaration No. _______ for the
lot and Tax Declaration No. ______ for the residential improvement. All
outstanding property tax arrears that have accrued and will still accrue up to
the end of the (__ quarter / end) of 200__ as determined and computed by the
Treasurer’s Office of __(city/municipality)__ have been paid in full by the
VENDOR and that the corresponding Tax Clearance Certificate has been
obtained and submitted herewith;

4. The VENDOR warrants that the title herein conveyed is free from and
clear of any and all present and future liens and encumbrances, lis pendens,
adverse claims, options and rights of third parties, court actions or suits,
expropriation proceedings and other legal proceedings whatsoever;

The VENDOR further warrants that as of the date of this Deed, there are no
pending, outstanding or unpaid financial obligations/liabilities on the
PROPERTY such as utility bills like electricity, water, telephone, gas, cable
TV, homeowner’s dues and assessments and the like. Any such bills that may
arise in the future covering the period prior to the date of this Deed, shall be
for the account of, and to be paid by, the VENDOR;

5. The VENDOR warrants that he has just, valid and legal title to the
PROPERTY with full power and authority to effect transfer thereof;

6. That the PROPERTY is not covered under or subject to the Urban Reform
Program of the government;

7. Finally, the parties hereto agree to execute any and all further documents
that may be necessary and/or required to carry out the intents and purposes
hereof.

IN WITNESS WHEREOF, the parties have hereunto set their hands on the day
and the place first above written.

__(name & signature of registered owner)__ ________(name and signature)_________

T.I.N. No. ___________ T.I.N. No. ______________

Acting as Attorney-In-Fact for : Acting as Attorney-In-Fact for:
(if applicable) (if applicable)
________(name of owner)______________ _______(name of buyer)_________
(VENDOR) (VENDEE)

Marital Consent (if applicable): (add additional names if more than 1 buyer)

__(name & signature of spouse/wife)___

SOURCE: REALTOR® Phil M. Coquia

 SIGNED IN THE PRESENCE OF:

____________________________________
________________________________

58

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

City/Municipality of ____________ ) S.S.

BEFORE ME, a Notary Public for and in the City/Municipality of

_____________________________________, on this ____ day of ___________, 200__,
personally appeared the following:

COMM. TAX
NAME CERT. NO. _ DATE & PLACE ISSUED

______________________ __________________ ______________________

______________________ __________________ ______________________

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

This instrument refers to a Deed of Absolute Sale covering a lot with a residential
improvement and consists of ____ (__) pages including this page where the
Acknowledgment portion is written, signed on each and every page by the herein
VENDOR and VENDEE and their instrumental witnesses.

WITNESS MY HAND AND MY SEAL, on this ____ day of __________, 200__

in the City/Municipality of ___________________________, Philippines.

NOTARY PUBLIC
Doc. No. ____
Page No. ____
Book No.____
Series of 200_.

SOURCE: REALTOR® Phil M. Coquia

59