CONTRACT TO SELL

 
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this 31 st day of December

2019 by and between:
 
        DESIDERIO P. IBABAO of legal age, married, Filipino, and with
residence and postal address at East Poblacion, Rizal, Zamboanga del
Norte, hereinafter referred to as the "SELLER/VENDOR";
 
-AND-
 
        MARIA STELLA IBABAO, of legal age, single, Filipino,  and with
residence and postal address at East Poblacion, Rizal, Zamboanga del
Norte,, hereinafter referred to as the "BUYER/VENDEE".
 
WITNESSETH;
 
        WHEREAS, the SELLER/VENDOR is the absolute and registered
owner of a parcel of land consisting of SIX HUNDRED TEN (610)
SQUARE METERS, more or less, located at East Poblacion, Rizal,
Zamboanga del Norte and covered by Transfer Certificate of Title No.
T-31850 issued by the Register of Deeds, with improvements found
therein;
 
        WHEREAS, the BUYER/VENDEE has offered to buy and
the SELLER/VENDOR has agreed to sell the above mentioned property
with all its improvements found therein under the terms and conditions
herein below set forth;
 
        NOW THEREFORE,  for and in consideration  of the total sum of
ONE MILLION TWO HUNDRED THOUSAND PESOS (Php:
1,200,000.00) 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 with all the
improvements found therein subject to the following terms and
conditions: 
 
1.     The total consideration shall be paid to the SELLER/VENDOR
through PAG-IBIG FUND upon its approval and release of the housing
loan duly applied for by herein BUYER/VENDEE;
 
2.     Capital Gains Tax and Real Estate Tax, shall be for the account of
the BUYER;
 
3.     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 to the subject property shall be delivered by
the SELLER/VENDOR to the BUYER/VENDEE upon full payment of the
total consideration;
 
5.    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 31st day of December, 2019 at Dipolog City, Philippines.
 

 
DESIDERIO P. IBABAO
GSIS UMID: CRN: 006-0164-9765-4
VENDOR

MARIA STELLA IBABAO

Driver’s license- JO1-11-003570
Valid Until 03/01/2022
BUYER/VENDEE 
 
 
SIGNED IN THE PRESENCE OF:
 
__________________________               ____________________________
 
 
ACKNOWLEDGMENT

Republic of the Philippines ]

C I T Y O F D I P O L O G ]S.S.
x------------------------------------/

BEFORE ME this 31st day of December, 2019, at Dipolog City,

Philippines, personally appeared DESIDERIO P. IBABAO, and MARIA
STELLA IBABAO, known to me to be the same persons who
executed/signed this two (2) pages document including this page in my
presence , identified through their competent proofs of identity, the
particulars of which are above-cited, which bear their photographs and
signatures, and they acknowledged under oath to me under penalty of
law, that the whole contents therein are true and that the same are their
free and voluntary acts and deeds.

WITNESS MY HAND AND SEAL.

Doc. No. ;
Page No. ;
Book No. ;
Series of 2019.