Contract To Sell_yolanda Quiambao.docx

CONTRACT TO SELL KNOW ALL MEN BY THESE PRESENTS: This CONTRACT TO SELL is made and executed this April 4, 2019 by and between: YOLANDA V. QUIAMBAO, also known as YOLANDA B. MABABANGLOOB, of legal age, Filipino married and a resident of Angeles City, Pampanga, hereinafter referred to as the "SELLER"; -AndLEA MAE MARQUEZ LACHICA/LEA MAE LACHICA DE JOSE, of legal age, Filipino, married to Jomer De Jose and resident of Poblacion, Libacao, Aklan, represented by her attorney-in-fact ELMER PERLAS DE JOSE, of legal age, Filipino and a resident of Poblacion, Libacao, Aklan by virtue of Special Power of Attorney executed on December 29, 2017 before Notary Public Rowena Mae N. Mencias docketed as Doc. No. 50, Page No. 11 Book No. IV Series of 2017, hereinafter referred to as the “BUYER”, WITNESSETH; WHEREAS, the SELLER is the absolute owner of a parcel of land designated as Lot No. 1360, Pls-690-D, consisting of Five Thousand and Twenty (5,020) square meters, more or less, located at Barangay Janlud, Libacao, Aklan and covered by Original Certificate of Title No. P- 1558 in the name of Yolanda Mababangloob; WHEREAS, the BUYER has offered to buy the Four Hundred Ninety Eight (498) Square Meter portion of the aforementioned property and the SELLER have agreed to sell the above-mentioned portion under the terms and conditions herein set forth; NOW THEREFORE, for and in consideration of the total sum of One Million Two Hundred Ninety Five Thousand Pesos (Php1,295,000.00), Philippine Currency, and of the covenants hereinafter laid down, the SELLER agrees to sell and the BUYER agrees to buy the aforesaid portion of the property subject to the following terms and conditions: a)

The total consideration price shall be One Million Two Hundred Ninety Five Thousand Pesos (Php1,295,000.00), Philippine Currency;

b)

The amount of One Million Two Hundred Forty Five Thousand Pesos (Php1,245,000.00), Philippine Currency, has already been paid by the BUYER to the SELLER in several instalments; The said amount shall form part of the whole consideration price;

c)

The remaining balance of FIFTY THOUSAND PESOS (P50,000.00), Philippine Currency will be paid on or before August 2019;

d)

Upon completion of the payment, the SELLER shall execute a Deed of Absolute Sale in favor of the BUYER;

e)

The BUYER shall be responsible for the expenses for the transfer of title in her favor, including Capital Gains Tax and Documentary Stamp Tax, including expenses for the survey of the portion hereby sold, the SELLER on the other hand shall be present during the conduct of the survey which shall be between the month of June or July 2019;

f)

SELLER shall diligently provide to the BUYER the necessary documents for the effective transfer of the subject property, including the approved subdivision survey;

g)

Unpaid Real Property Taxes shall be borne by the SELLER;

h)

BUYER shall have the right to take possession of the property immediately upon execution of this contract.

This Agreement shall inure to the benefit of and be binding upon the herein parties’ heirs, assigns and successors-in-interest. IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this April 4, 2019 at Kalibo, Aklan, Philippines. YOLANDA VILLORENTE-QUIAMBAO Seller OSCA ID No. 4826 (Angeles City)

ELMER PERLAS DE JOSE Attorney-in-Fact of the Buyer OSCA I.D No. LIB 01689

SIGNED IN THE PRESENCE OF: __________________________ ____________________________ ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES ) PROVINCE OF AKLAN MUNICIPALITY OF KALIBO

) SS. )

BEFORE ME, a Notary Public for and in the Province of Aklan, personally appeared the parties and their witnesses who exhibited to me their credible proof of identification indicated below their respective names, known to me and known to be the same persons who executed the foregoing instrument and acknowledged before me that the same is their free act and voluntary deed. This instrument, consisting of two (2) pages, including the page on which this acknowledgment is written, has been signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal. WITNESS MY HAND AND SEAL this April 4, 2019 at Kalibo, Aklan, Philippines.

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

ROWENA MAE N. MENCIAS Notary Public Refindor Bldg., Capitol Site, Estancia, Kalibo Aklan; Roll No. 62828; PTR No. 6334460, Kalibo, Aklan, January 04, 2019; IBP No. 1072173, Kalibo, Aklan, January 04, 2019; MCLE Compliance No. V-0015889; Notarial Commission No. 8 (2018-2019)