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OPTION TO BUY AGREEMENT

KNOWN TO ALL MEN BY THESE PRESENTS:

This to the OPTION TO BUY AGREEMENT (this Agreement) executed and entered
into at_________________________, by and between:

SPOUSES ____________ and ____________, both Filipino residing at General


Santos City, and hereinafter to referred to as the SELLER,

- and -

SPOUSES _____________ and _________________-, both Filipino residing at


Banawa, Guadalupe, Cebu City, and hereinafter to referred to as the BUYER,

WITNESSETH:

WHEREAS, the property subject of this OPTION TO BUY AGREEMENT (Agreement


for brevity) is described as follows:

__________________________________________________

WHEREAS, the BUYER reserves the right and privilege to purchase the subject
property at a fixed price upon payment of option money or other considerations, and
within an agreed period or upon complying certain terms and conditions set forth in
this Agreement;

WHEREAS, the SELLER acknowledges the right and privilege accorded to the BUYER
to purchase the property within a certain period at an agreed price upon the
acceptance of the option money as consideration, which is distinct and separate from
the selling price of the property;

WHEREAS, no other right or ownership is vested upon the BUYER by the execution
of this Agreement. The SELLER shall retain full ownership and possession of the
subject property until the BUYER has exercised its right and privilege to purchase
the subject property.

1
NOW, THEREFORE, the parties hereby agree as follows:

1. SELLING PRICE

The total selling price shall be FOUR MILLION PESOS ONLY (P4,000,000.00).

2. OPTION MONEY

The option money shall be TWENTY THOUSAND PESOS ONLY (P20,000.00)


payable by the BUYER to SELLER upon execution of this Agreement.

3. PERIOD TO PURCHASE THE PROPERTY

The period within which the BUYER may purchase the subject property from
the SELLER shall be THREE (3) MONTHS from the date of this Agreement.

4. TAXES AND FEES

The Capital Gains Tax and Broker's commission shall be for the account of the
SELLER, while the Documentary Stamps, Transfer Tax and Registration Fees
shall be for the account of the BUYER.

IN WITNESS WHEREOF, the parties have hereunto signed these presents in


the Cebu City on ____________________

SELLER BUYER

By: By:

Husband Husband

2
Wife Wife

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)


CITY OF CEBU.. ) S.S

I certify that on this date, before me, a notary public duly authorized in the
city named above to take acknowledgements, personally appeared:

Name CTC/ID/Passport No. Date Issued Place


Issued

Personally known to me and to me known the same persons who executed the
foregoing Agreement and who acknowledged before and their respective signatures on
the instrument were voluntarily affixed by them for the purposes stated therein, and
who declared to me that they have executed the instruments as their free and
voluntary act and deed. This Agreement is composed of three (3) pages, including
this page where and conditions have been attached. All the pages hereof have been
signed by the aforesaid parties and their instrumental witnesses and sealed with my
notarial seal.

WITNESS MY HAND AND SEAL this

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