Contract to Buy and Sell for Malasiqui Property

Draft since Julian Torcuator has not given us a copy of the CTS

DRAFT   for review and comments;  refer legal

This agreement entered into by and between:

San Carlos Pangasinan Gardens Inc. with principal office located at Agdao San Carlos City, represented by ____________________ hereinafter known as the VENDEE

                                         and

Ms. Rosario Endozo vda de Marmaril of legal age widow of 1744 N Avenue 45 Los Angeles California hereinafter known as the VENDOR

Whereas the owner who is the owner in fee and simple of the following 5 parcels of land all located in Barrio Talospatong, Malasiqui Pangasinan with total area of 48,100 covered by the following TCTs:

   TCT 026 - 2016003843  (from TCT 293433)    Lot 5B   6, 114 square meters

    TCT 026 - 2016003844 (from  OCT P 49480              11,359 square meters

    TCT 026 -  2016003839 (from TCT 293 435  Parcel 6  13,595 square meters

                                                                   Lot  4

    TCT 026 - 2016003841  (from TCT 293434)  Lot 7578 -B  9,596 square meters

    TCT 026 -2016003840  (from TCT -293436) Parcel 8

                                                                  Lot No 6       7,436 square meters

                                                                  Total           48,100 square meters

    ALL THE SAID PARCELS OF LAND HAVE ANNOTATIONS

OF LIABILITIES UNDER SECTION 4 RULE 74 OF THE RULES OF COURT WHICH WAS DATED APRIL 11, 2016

  Whereas the VENDEE in the meeting last July 18, 2017 at Megamall Mandaluyong City MM, met with representatives of the VENDOR, Atty Julian Torcuator, bearer of SPA Ms. Rhodora Endozo de la Cruz manifested their desire to buyand the  VENDOR have agreed to buy and sell the above mentioned properties under the following terms and conditions:

TOTAL  price   @  P500.00/ square meter x 48,100 square meters  =  P24050,000  (TWENTY FOUR MILLION  FIFTY THOUSAND PESOS

TERMS:    50% OR 12,025,000    PAYABLE in two gives:

                 6,012,500   on August 11 2017

                 6,012,500 on  October 11  2017

               Balance payable in one year (P12,025,000) without interest, quarterly

              P3,006,250      on         January 11, 2018

                3,006,250       on         April  11, 2018

                3,006,250       on        July  11, 2018

               3,006,250        on        October 11, 2018

3.  Representation and warranties:

    1. The land is not tenanted is exempt from CARP coverage, care takers if any have been compensated.  The VENDOR attest to this with copies of receipts and certification that the land is not tenanted;

   2.  The land is not subject of any lien, debt nor any legal case and if there is any the VENDOR warrants unto the VENDEE peaceful, unviolated, and continuous possession upon payment of full down payment and will defend the latter against whomsoever at his expense.

  3. The VENDOR warrants unto the VENDEE freedom from any lien/claim from Sec 4 Rule 74 of the rules of court as annotated in the title, and is willing to pay a surety bond if required to do so.

  4.  The VENDOR shall sign any documents needed at the time while the lot is still unpaid for permits that  may be needed by the VENDEE development permit, license to sell, mayors permit and the like

4.  Expenses:

    1.  The Real Estate taxes have been fully paid until the end of 2017, and thereafter the VENDOR  shall pay  the real estate tax

   2.  CGT, Commission shall be for the account of the VENDOR, transfer fee and doc sci shall be for the account of the VENDEE

5. OWNERSHIP and possession

    The TCT shall remain in the custody  of the VENDOR until fully paid, after which the former shall turn over the same for the transfer and registration without need of demand to the latter;   the VENDEE however is allowed to take possession of the property and shall be allowed to engage in the following activities regarding the said possession:     application for permits, survey, development:   fencing, road construction, landscaping,  and sales activities

    The trees however may be cut by previous  caretakers;  

6.  Upon full payment the VENDOR shall execute an absolute Deed of Sale in favor of the VENDEE

Witness our hands this  _____day of August 2017, at ___________________

     Rosario Endozo vda de Mamaril         San Carlos Pangasinan Gardens  Inc

            

             VENDOR                                  by:

                                                            VENDEE

MM:  please print

--

Jorge U. Saguinsin
To "be the best, do your best, expect the best" always

N.B.   The information contained herein are private and confidential in nature.  The sender does not assume any damage that may arise from improper use of the email contained. ;  especially if the information in this communication falls into the wrong hands causing damage and loss. to the company or any other parties.