CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT, made and entered into at Villaba, Leyte, Philippines, by and between:

DOMINADOR ESPINA, of legal age, married, Filipino citizen and a resident of Brgy.
Campurog, Villaba, Leyte, (together with successors and assigns, the “Seller”).

and

MAGNO C. BALBA, of legal age, married, Filipino and a resident of Brgy. Buga-
Buga, Villaba, Leyte, (together with successors and assigns, the “Buyer”).

WITNESSETH:

That, for and in consideration of the agreed purchase price of Sixty Five Thousand Pesos
(₱65,000.00) Philippines currency, the same have been paid by the buyer at the execution of this
Agreement, the SELLER does by these present agree and bind himself to sell to the BUYER that
certain real estate situated at Brgy. Buga-Buga, Villaba, Leyte, having been bought by the SELLER
from Jaime Arnado in a Recibo signed by him on March 4, 2010 before the Office of the Punong
Barangay of Buga-Buga, Villaba, Leyte, with the improvements existing thereon (the,
“Property”);

That upon payment of the unpaid real property taxes due and the surrender of the Tax Declaration
of the above-described property and the other obligations set forth hereunder, the SELLER shall
forthwith execute and deliver to the BUYER a final Deed of Absolute Sale conveying the above-
described property, free and clear of all liens and encumbrances except such as may be subsisting
by operation of law, it being understood, however, that the expenses for the transfer of the title to
the BUYER, including attorney’s fees, documentary stamps, and registration fees, shall be for the
exclusive account of said BUYER;

That the BUYER, to whom the possession of the subject property is deemed to have been delivered
by this contract, shall have the option to rescind this Contract should the Seller failed to pay the
unpaid real property taxes, the surrender of Tax Declaration and/or Title of the property and the
execution of a Deed of Absolute Sale in favor of the Buyer;

That in consideration of the actual possession which the BUYER is given to enjoy from the date
of the execution of this instrument, all taxes and special assessments, if any, imposed by the
government on the property, beginning with the month in which this contract has been entered
into, shall be assumed and paid by said BUYER as if the property were his own, and if for any
reason the payment thereof, including penalties, if any , shall have been advanced by the SELLER,
the total amount thereof so advanced shall be chargeable to the BUYER with interest thereon at
the rate of 12% per annum; and

That in case it shall become necessary for the parties to resort to court for the enforcement of their
rights under this contract or for the repossession of the subject property in case of termination of
this agreement by reason of default or other causes attributed to either party, the party at fault shall
be liable to pay the cost of suit, attorney’s fees, and other incident expenses and other subsisting
obligations arising thereunder.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at the place first
above written, on this ___________day of _____________, 2017 at Villaba, Leyte, Philippines.
DOMINADOR ESPINA
Seller
ID No. _______________________
Issued On: ____________________
Issued At: ____________________
MAGNO C. BALBA
Buyer
ID No. _______________________
Issued On: ____________________
Issued At: ____________________

Signed in the presence of:

_____________________________ _____________________________
LAVENA VIAGEDOR RUBELYN A. CUEVA

ACKNOWLEDGMENT
Republic of the Philippines )
Province of Leyte )
Municipality of Villaba ) S.S.
x----------------------------------x

BEFORE ME, a Notary Public in and in Villaba, Leyte, this ______ day of ____________, 2017,
personally appeared only the Seller, DOMINADOR ESPINA, who is known to me to be the same
person who executed by the foregoing instrument and he acknowledged to me that the same is his
free and voluntary act and deed as well as that of the persons he represents.

This Instrument relates to a Contract to Sell consisting of only two (2) pages, including this page
where the Acknowledgment is written, having been signed by the party and his witnesses on each
and every page hereof.

WITHNESS MY HAND AND SEAL in the place and on the date first above written.

Doc. No. _______;

Page No. _______;
Book No. ______;
Series of 2017.