Deed Of Conditional Sale Sample.docx

DEED OF CONDITIONAL SALE KNOW ALL MEN BY THESE PRESENTS: This Deed of Conditional Sale is entered into by and between the following parties: ACEVEDO DEVELOPMENT CORPORATION herein represented by their Corporate Secretary and Director DAPHNE V. ACEVEDO, widow, of legal age, Filipino, amd a resident of 3524 Mag. Torres st., Bacood, Sta Mesa, Manila, Philippines, hereinafter referred to as the “VENDOR”; - and - SPOUSES HERMAN D. CARPIO JR. and LUCY N. CARPIO, both of legal age, Filipinos, residents of Roxas Avenue Extension, Kalibo, Aklan, Philippines, hereinafter referred to as the “VENDEES ”; W I T N E S S E T H: WHEREAS, VENDOR is the absolute and registered owner of a parcel of land known as Lot No. 4-A-2-C, Psd-06-070567, of the cadastral survey of Kalibo, situated in Barangay New Buswang, Kalibo, Aklan, and covered by Transfer Certificate of Title No. T-41703 of the Register of Deeds for the Province of Aklan, and which parcel of land is more particularly described and bounded as follows: TRANSFER CERTIFICATE OF TITLE NO. T-41703 A parcel of Land (Lot 4-A-2-C, Psd-06-070567, being a portion of Lot 4-A-2, Psd-06-069201, situated in the Barangay of New Buswang, Municipality of Kalibo, Province of Aklan. Bounded on the SE., along line 1-2 by Lot 4-A-2-D; on the SW., along line 2-3 by Lot 3346, Psc-24; on the NW., along line 3-4 by Lot 4-A1, Psd-06-069201; and on the NE., along line 4-1 by Lot 4-A-2-J. x x x containing an area of THREE HUNDRED (300) square Meters, more or less. WHEREAS, VENDOR has offered to sell the abovedescribed parcel of land to the VENDEES, and the VENDEES have agreed to buy the same in the amount of FOUR HUNDRED NINETY FIVE THOUSAND PESOS (P495, 000. 00), Philippine Currency; WHEREAS, the VENDEES shall pay the amount of NINETY FIVE THOUSAND PESOS (P95, 000.00), Philippine Currency, upon the execution of this document; WHEREAS, the VENDEES shall pay the balance in the amount of FOUR HUNDRED THOUSAND PESOS (P400, 000.00), Philippine Currency, within two (2) years from the execution of this document; WHEREAS the VENDOR hereby bounds herself to execute a Deed of Absolute Sale in favor of the VENDEES upon the fulfillment of the VENDEES obligation to the VENDOR; WHEREAS it is hereby mutually agreed that the VENDOR WHEREAS it is hereby mutually agreed that the VENDOR shall bear the payment for capital gains tax and notarial fees and VENDEES shall bear all other expenses leading to the transfer of the above described property to their name