CONDITIONAL CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT made and entered into in Marikina City, Philippines,

this _____day of ______________, 2016 by and between:

______________________________________ referred to as the VENDOR;

-and -

___________________________________, o f l e g a l a g e and with residence

at ____________________________________, as represented by their ATTORNEY-IN-
FACT _____________________________ hereinafter referred to as the VENDEE;

WITNESSETH THAT:

WHERAS, the VENDOR is the absolute and registered owner of a lot

located at ________________________, with an area of ______ square meters,
covered by TCT No. ___________, issued by the Registry of Deeds of Marikina
City;

WHEREAS, the VENDEE would like to avail the said property through a
PAG-IBIG loan.

WHEREAS, the VENDOR is willing to grant the VENDEE this request.

NOW THEREFORE, for and in consideration of the foregoing premises, the

VENDOR agrees to sell and the VENDEE agrees to buy the above described
property under the following terms and conditions:

1. That the total consideration of the sale is _________________________

(P________________.00);

2. That upon signing of this contract the VENDEE shall pay the
VENDOR a down payment of P _________________ ;

3. The VENDEE shall apply for a loan with PAG-IBIG in the amount of Php
_______________ to pay the VENDOR the remaining balance of the total
consideration;

4. The proceeds/check of the PAG-IBIG loan equivalent to the remaining

balance of _____________________ shall be paid to and in the name of
VENDOR;

5. For purposes of the loan, the VENDOR shall allow the transfer of the title
in the name of the VENDEE, but only after the issuance of a guarantee
letter from PAG-IBIG. The interest of the VENDOR in the amount
equivalent to the remaining balance of the consideration shall be
annotated in the TCT of the property and shall serve as a lien in favor of
the VENDOR over the property;
 6. The capital gains tax shall be to the account of the VENDOR, while
the transfer tax, notarial fees and documentary stamp tax shall be for
the account of the VENDEE.

7. The VENDOR reserves his right of ownership over the subject property
until full payment of the consideration;

8. That in case, the remaining balance of ___________________ is not paid in

full on or before _________________, the VENDEE shall be subjected to a
rent equivalent to PhP 10,000.00 per month or every fraction thereof to
commence from the signing of this contract until _________________,
which shall be deducted from the down payment as stated in item 2 of
this agreement. The remaining balance of the down payment, if any,
shall be returned to the VENDEE and this conditional contract of sale is
automatically rescinded and ownership of the property shall be vested
back to the VENDOR.

9. Should this conditional sale be rescinded in accordance with item 8 of

this contract, the VENDEE shall execute a document that shall transfer
the ownership of the property to the VENDOR without need of any
demand or judicial action on the part of the VENDOR.

IN WITNESS WHEREOF, we have hereunto set our hands this

_______________ in Marikina City, Philippines.

_________________________
Vendor Vendee

With my Marital Consent:

CARMELITA S. JOSEF

Signed in the presence of:

__________________________ ______________________

REPUBLIC OF THE PHILIPPINES )

MARIKINA CITY )S.S.

BEFORE ME, this _________________ in Marikina City, Philippines,

personally appeared the following persons with their competent ID to prove
their identity, to wit:

- __________________________
___________________ - __________________________

All known to me to be the same persons who executed the foregoing instrument
and they acknowledged to me the same as their free act and deed.

Doc. No. ; _____

Page No.; _____
Book No.; _____
Series of 2017 .