HQP-AAF-014

(Installment Sale - Retail)

DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF CONDITIONAL SALE made and executed this __ day

of by and between:

Pag-IBIG FUND, a government financial institution organized

and existing under and by virtue of Republic Act No. 9679, with
principal office at the Petron MegaPlaza Building, 358 Sen. Gil
Puyat Avenue, Makati City, represented in this Act by
its ,
hereinafter referred to as the "SELLER". }APPROVED: n. ~~"l~.~Jil
Date
and
~ #~
, .• --\RESEARCH & DEVELOPMENT
.- ..--
! DEPARTMENT

hereinafter referred to as the BUYER/S.

WITNESSETH:

WHEREAS, the SELLER is the registered owner of a certain

condominium unit/s / parcells of land together with all the improvements erected
thereon located in
and covered by Transfer Certificate/s of Title No/s. _

of the Registry of Deeds of , and more particularly described as

follows:

TECHNICAL DESCRIPTION

WHEREAS, the BUYERIS has/have offered to purchase the

abovementioned property on installment basis, which offer the SELLER has
accepted subject to the terms and conditions hereinafter set forth.

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

and the sum of PESOS
(P ), Philippine Currency, to be paid in the manner herein below
specified, the SELLER hereby SELLS, TRANSFERS and CONVEYS unto and in
favor of the BUYER/S, his/her/their executors, administrators or assigns, the
above described condominium unit/s / parcells of land together with all the
buildings and improvements erected thereon, and the Parties hereto hereby
agree and bind themselves as follows:

1.1 The aforesaid sum shall be paid at the Office of the SELLER located at

(Revised December 05, 2012)

 in twelve (12) monthly equal amortizations of _
_________ PESOS (P ), with interest at the
rate of (__ %) per annum, with the first amortization to
become due and payable on , and the succeeding
monthly amortizations to be paid on the same date of every month
thereafter with the monthly installments covered by post-dated checks.

1.2 In the event the BUYER'S shall fail to pay the monthly installment on or
before its due date, he/she shall be charged a penalty of one twentieth of
one percent (1/20 of 1%) of the amount due for every day of delay until
full settlement thereof.

1.3 Upon full payment by the BUYER'S of the purchase price above referred
to, together with all the interest due thereon, and other charges and
upon her/his/their faithful compliance with all the conditions of this Deed,
the SELLER or its assignee shall execute in favor of the BUYER/S or
his/her/their heirs a Deed of Absolute Sale and the BUYER'S or
his/her/their heirs shall accept such Deed as full performance by the
SELLER or its assignee of its covenants or undertaking hereunder.

Should the BUYER/S fail to pay at least three (3) consecutive monthly
installments, when due, or otherwise fail to comply with any of the terms
and conditions herein stipulated, then this Deed of Conditional Sale
shall, after the lapse of thirty (30) days from date of service by registered
mail to the BUYER'S of a Notice of Cancellation, or upon receipt of such
notice by the BUYER/S, whichever comes first, be deemed cancelled. In
the event of cancellation of this Deed, the following shall be forfeited in
favor of the SELLER:

1.3.1 The BUYER's principal payments, provided

amount shall not to exceed ten percent (i+- ,~Pf. ~~P'""fl'~~~~r--:---~,
payments made; and 1)

1.3.2 Interest already paid.

1.4 It is also agreed that if the BUYERIS already occupW_~~~@~~--~

J
time of cancellation of sale, the following shall likewise be deducted from
his payments:

1.4.1 Rent for the month/s that the property has been occupied by the
BUYERIS;

1.4.2 Unpaid bills and expenses necessary to repair any loss or damage
to the property attributable to the fault of the BUYER/S.

The remaining amount, if any, shall be refunded to the BUYERIS within

sixty (60) calendar days from date of receipt of the Notice of Cancellation
of Sale or surrender of the property to the SELLER, whichever comes
later.

1.5 If the BUYER is already occupying the property, he shall be given thirty
(30) calendar days to peacefully vacate and surrender the property to
the SELLER. Otherwise, upon expiration of the thirty-day period, the
BUYER shall be treated as tenant holding the premises without
permission. Should it become necessary to resort to any legal action to
recover possession of the said property, the BUYER hereby obligate/s to
pay the costs and attorney's fees which shall constitute as liens on all
real and other equitable rights thereto.

(Revised December 05, 2012) 2

 In addition, upon cancellation of this Deed, and expiration of the thirty
(30) calendar days mentioned in the preceding paragraph, the SELLER
shall have the right to: (i) enter and take physical possession of the
property including any and all improvements built thereon, without need
of court intervention and without any restriction for the intent of
protecting and/or preserving the Property; (ii) dispose of the property or
offer the same for sale to others interested in acquiring it; (iii) clear the
property of any structure, furniture, fixtures, personal effects and
equipment to be stored in a storage area/warehouse of the SELLER's
choice with the expenses charged to the BUYERIS; (iv) dispose such
structure, furniture, fixtures, personal effects and equipment of the
BUYERls, the proceeds of which shall be applied to the settlement of
the BUYER's liabilities without prejudice to the right of the SELLER to
collect the balance thereof.

1.6 The BUYERIS shall not do or permit to be done, nor bring or keep
inflammable materials or anything in the premises which will adversely
affect the premises or any of the buildings surrounding the same.

1.7 The BUYERIS shall use the subject property and improvements
exclusively for his/her/their own use, occupancy, and benefit.

1.8 The BUYERIS shall not sell, convey, lease or sublease or otherwise
encumber the property in favor of any other party.

1.9 The BUYERIS shall use the property herein described as residential
quarters only and no business or industry shall be allowed thereon. No
work animals, pigs, goats, sheep or fowls shall be kept and/or raised in
the premises.

1.10 The BUYERIS may introduce improvement or make alterations in the

premises subject of this Deed provided the same shall not in any way
diminish the value of the property or threaten or compromise the stability
of the housing structure. In the event that this Deed is cancelled or
terminated for whatever reason, including the cancellation by mutual
agreement, any alteration or improvement introduced in the property with
or without the consent of the SELLER shall be forfeited in the latter's
favor, that is, without right of reimbursement or to any form of
compensation on the part of the BUYERIS for the same. For this reason,
the BUYERIS agree/s not to tear down or destroy the improvements or
constructions introduced into the property when he/she/they leave/s the
premises.

1.11 The property subject of this Deed is being sold on an "as is, where is"
basis, which means that the BUYER accepts the property in its present
condition without warranty and with the understanding that the BUYER
assumes the risk arising from the condition of the unit.

1.12 All expenses to be incurred in transferring the title to the property in the
name of the BUYERIS including the annotation of this Deed on the
TCT/CCT shall be for his/her/their account and upon full payment of all
monetary obligations, the SELLER shall release to the BUYERIS the
Deed of Absolute Sale together with the Transfer/Condominium
Certificate/s of Title, Tax Declaration, Real Estate Tax Receipts and
such other documents as may be r.e uired in relation to the said transfer
of title to the property in the name ~lItP~.~;;p~' ..lAtu.

(Revised December 05, 2012) RESEARCH & DEVELOP~1e:Nf='"" 3

'\ ._.\ LlEPAR~1'
 1.13 In the event of the BUYER'S death or incapacity to pay the monthly
installment on account of loss of income due to physical disability or
unemployment and such other meritorious reasons acceptable to the
SELLER during the term of this Contract, the BUYER may be
.substituted by a relative, either by consanguinity or affinity within the
second civil degree. The monthly installments paid by the original
BUYER shall inure to the benefit of the substitute BUYER.

The BUYER or the substitute BUYER, in case of the original BUYER's

death, shall inform the SELLER in writing of the substitution. The
substitute BUYER shall submit to the SELLER at the address indicated
herein a letter of intent .signifying his willingness to assume the
obligations of the BUYER under this contract.

The SELLER shall inform the BUYER and/or the substitute BUYER in
writing of the acceptance of the substitution. The acceptance of the
substitute BUYER shall be effective after the lapse of fifteen (15)
days from the service of the letter of acceptance by registered mail
to the substitute BUYER, or upon the latter's receipt thereof,
whichever comes first.

1.14 Upon acceptance by the SELLER in writing of the substitution, the

SELLER shall accept the payment of the substitute BUYER and all
transactions pertaining to the implementation of this Deed shall be made
by the SELLER with the substitute BUYER.

The substitute BUYER agrees to be bound by the terms and conditions

of th is Deed.

1.15 In case of difference between the parties in the interpretation, application

or enforcement of the provisions of this Deed, the proper suit shall be
filed exclusively within the courts ({Makati City or if the sale is done bv
the branch, place of business of the branch concerned.)

1.16 Any notice, request or other communication to be given or made under

this Deed shall be in writing and such communication may be delivered
by hand, airmail, facsimile or established courier services to the party's
address specified below to such other and will be effective upon receipt.

a. For SELLER

Pag-IBIG FUND
Corporate Headquarters
Petron MegaPlaza Building
358 Sen. Gil Puyat Avenue
Makati City, Philippines

Attention:
------------------
Facsimile: xxxxxxxxxxx

(Revised December J 3, 20 J 2) 4
 b. For BUYERIS

Attention:
-------------------
Facsimile: xxxxxxxxxxx

IN WITNESS WHEREOF, the parties have hereunto set their hands at

on the date first above written.
----------------

Pag-IBIG FUND
Seller Buyer

By:

Date of Issue: _
Expiry Date
TIN:
-------------------
_______ No. _
Date of Issue _
Expiry Date

SIGNED IN THE PRESENCE OF:

(Revised December J 3, 20 J 2) 5
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

__________ ) 5.5.
----------)

BEFORE ME, A Notary Public for and in the

this day of
_______ , 20 , personally appeared the above named-persons,
who have satisfactorily proven to me their identity through their identifying
documents written below their names and signatures, that they are the same
persons who executed and voluntarily signed the foregoing Deed of Conditional
Sale which they acknowledged before me as their free and voluntary act and
deed. Further, persons acting in representative capacity declare that they have
been given authority to sign in said capacity.

The foregoing instrument which relates to a Deed of Conditional Sale

consisting of ( ) pages including this page of acknowledgment has
been signed by the parties and their instrumental witnesses on all pages thereof,
in my presence, and sealed with my Notarial Seal.

WITNESS MY HAND AND NOTARIAL SEAL. __.--.

nr.I'.- J~.I.;w..I~
Doc. No. l;APPROVED:· •. ·~a~e \\
Page Bo.
Book No. _
Series of
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(Revised December 13, 2012) 6