CONTRACT TO SELL

This Agreement made and entered into this ______ day of _______________ in
___________, Philippines, by and between:

SELLER:
__________________________ postal address at ________________________,
herein represented by its Corporate President,
_________________________.

and

BUYER:
Spouses _________________________ and _____________________, both of
legal age, Filipinos, with residence and postal address at
________________________________ Philippines.

WITNESSETH

That the SELLER, for and in consideration of the covenants and stipulation
set forth, do hereby agree to sell a parcel of land situated at Lot ___, Blk. ___,
____________ St., ____________, _____________________________ City, Philippines, more
technically described in Transfer Certificate of Title No. _______________ of the
Registry of Deeds for __________________ as follows:

TCT No. ____________

THE CONTRACT AMOUNT AND PAYMENT

1.1. That the PARTIES have agreed that the selling price of the above-mentioned
property is ______________________________________________ PESOS
(P_____________)

1.2. PAYMENT TERMS:

That the amount shall be paid on the following manner:
a. Downpayment (20%):
Twenty percent (20%) DOWNPAYMENT in the amount of
____________________________________ PESOS (P____________) of lot shall
be paid as follows:
1. P _________ - reservation paid on ____________.
2. P _________ - on or before ______________.
3. P _________ - on or before ______________.
4. P _________ - on or before ______________.
5. P _________ - on or before ______________.
6. P _________ - on or before ______________.
7. P _________ - on or before ______________.

b. The balance of eighty percent (80%) shall be paid thru in-house, pag-ibig,
or bank financing.
1.3. That after the full payment of the total consideration, the SELLER shall
execute a DEED OF ABSOLUTE SALE in favor of the BUYER to perfect the
latter’s right and title over the subject property.

OTHER PROVISIONS

2.1. DISCOUNT: A five percent (5%) cash discount shall be given to BUYER who
put up the full down-payment within sixty (60) days after the date of
reservation, to be computed based on the amount paid. The amount paid
beyond the set deadline shall not be entitled to cash discount.

2.2 DEFAULT: The following shall constitute an event of default under this
Contract to Sell:
a. Failure or delay of two (2) months by the BUYER to pay any amount
due on the date within the period specified for its payment for any
reason whatsoever;
b. Failure or delay of two (2) months by the BUYER in the payment or in
the submission of the postdated checks on the date prescribed and/or
failure of the SELLER to receive the proceeds of any postdated checks
due to insufficiency of funds, closure of account, refusal of the drawee
bank to honor the check in the date of presentment for payment and
for any reason whatsoever;
c. Withdrawal of the BUYER or cancellation of a Contract to Sell for any
reason whatsoever other than due to the willful act or gross
negligence of the SELLER;

2.3. PENALTIES: Should there be a breach of contract without any fault on the
part of the SELLER, the following penalties, sanctions shall be imposed.
a. Automatic forfeiture of the reservation deposit.
b. SELLER shall be entitled to cancel the Contract to Sell without need
of a court declaration to that effect by giving the BUYER a notice of
cancellation and/or demand for rescission of contract by a notarial act
sent to the address of the BUYER by registered mail or personal
delivery. As a result of such cancellation, the SELLER shall have the
right to forfeit fifty percent (50%) of the total amount of down-
payment paid by the BUYER, or P200,000.00 as liquidated damages,
whichever is higher. Furthermore, the SELLER shall have the right to
collect penalties for delayed payments at the rate of 5% per month.
The payment of penalty charges shall be in addition to the amounts
otherwise due under this Contract to Sell, and shall not prejudice the
exercise by the SELLER of any other right or remedy granted to it
under the Contract to Sell. In addition to the said amount to be
forfeited, any amount accrued for interests, charges, or rentals for
occupying the property and 10% attorney’s fees shall be deducted
from the amount originally refundable to the BUYER;
c. After deducting the above-mentioned penalties and other charges, the
refund to the BUYER, if any, shall be paid upon receipt of the down
payment from the subsequent buyer.

2.4. That capital gains tax of the lot shall be for the account of the SELLER while
the documentary stamp, transfer taxes, registration fees and other
incidental expenses will be for the account of the BUYER.

2.5. The parties to this Agreement hereby agree to the full performance of the
covenants contained herein. All problems and conflicts among the PARTIES
shall be resolved through a dialogue and negotiation in the most equitable
way. A legal action shall only be pursued as a last resort in case of any
 willful or major violation of the terms of this Agreement by any Party and
such legal action shall be filed in the proper courts of Gen. Santos City.

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

SELLER: BUYER:

_________________ ________________________--

SIGNED IN THE PRESENCE OF

_____________________________ _____________________________

REPUBLIC OF THE PHILIPPINES)

) S.S.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in _______________________, Philippines,

on this _____ day of _______________, personally appeared the following persons:

_____________________ CTC:
TIN : 111-771-542
______________________ CTC :
TIN :
______________________ CTC :
TIN :
known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free act and deed, as well as, the
corporation herein represented.

This instrument refers to a CONTRACT TO SELL, consisting of four (4)

pages including this page on which the acknowledgment is written duly signed by
the parties and their instrumental witnesses on each and every page thereof.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my

notarial seal at the place and on the date above written.

Notary
Public

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of _____