EXTRAJUDICIAL SETTLEMENT OF ESTATE

WITH CONDITIONAL DEED OF SALE

KNOW ALL MEN BY THESE PRESENTS:

WE, REMEDIOS L. CASTRO-ALIGNO, JOSE MA. L. CASTRO, VICENTE L.

CASTRO, CARMEN L. CASTRO, FLORENCIO L. CASTRO, and JESUS VICTOR L.
CASTRO, all of legal ages, Filipinos and residents of Cebu City, Philippines, referred
to as the herein SELLERS, and the surviving children and compulsory heirs of the
late SPS. JOSE E. CASTRO and CARIDAD L. CASTRO, leaving the following real
property, more particularly bounded and described as follows:

“A parcel of land (Lot 384-B-1576 of the subdivision plan Pls-273-D of the

Banilad Friar Lands Estate, G.L.R.O. Record No. 5988), situated in the City of
Cebu (formerly Municipality of Cebu, Province of Cebu). Bounded as follows:
on the NE., by Lots Nos. 382 and 1360; on the SE., by Lot No. 384-A of the
subdivision plan; on the SW., by Calle America; and on the NW., by lot No.
1364. Beginning at a point marked “1” on the plan being N. 18 deg. 38’, E.
15.25m. from Monument “A”; Thence N. 30 deg. 46’ W., 8.60 m. to point 2;
Thence N. 35 deg. 44’ E., 32.70 m. to point 3; Thence N. 84 deg. 16’ E., 29 m. to
point 4; Thence S. 2 deg. 31’ W., 7.83 m. to point 5; Thence S. 56 deg. 15’ W.,
52.06m. to the point of beginning; containing an area of SEVEN HUNDRED
SIXTY AND FIVE TENTHS (760.5) SQUARE METERS, more or less, covered by
TRANSFER CERTIFICATE OF TITLE NO. 26874. All points referred to are
indicated on plan and on the ground; points “1”, “3”, “4” and “5” are marked
by P.L.S. Conc. Mon. 15x60 cms; point “2” is an old point; Bearings True’
declination 1 deg. 25’ E.; Date of Subdivision Survey, October 13, 1928, and that
of the original survey, August 1906 to July 1907.”

WITNESSETH, that;

WHEREAS, we are the sole heirs of the deceased SPS. JOSE E. CASTRO who
died on February 27, 1993, at 39 R. Landon St., Cebu City, copy of his death
certificate is hereto attached as Annex “A”; and CARIDAD L. CASTRO who died on
June 19, 1990, at Chong Hua Hospital, Cebu City, copy of her death certificate is
hereto attached as Annex “B”;
 WHEREAS, both deceased spouses, died intestate and without any will or
testament or debts;

WHEREAS, deceased JOSE CASTRO, is the absolute and registered owner of

the parcel of land particularly described above, covered by Transfer Certificate of
Title No. 26874, of the Registry of Deeds;

WHEREAS, all the adjoining owners had been notified, but failed to exercise
their pre-emption rights; and the above-described parcel of land is not tenanted
and does not come within the operation of the Comprehensive Agrarian Reform
Program;

WHEREAS, a copy of this Extrajudicial Settlement has been published in the

______________, a newspaper of general circulation in the province and cities of
Cebu as certified to by the said news paper, a copy of said certification is hereto
attached as Annex “C”;

WHEREAS, since we are all of legal age, with full capacity to enter into
contracts, with legal effects, and pursuant to Section 1, Rule 74 of the Revised
Rules of Court of the Philippines,we hereby settle and adjudicate, as we have
hereby settled, and adjudicated unto ourselves the above-described property;

FURTHER, for and in consideration of the sum of TWENTY-FIVE MILLION

PESOS (P25,000,000.00) Philippine currency, delivered to us, by the BUYER, MR.
KAISER CHRISTOPHER TAN, of KAISER URBAN DEVELOPMENT CORP., the partial
payment of which is hereby received and acknowledged by us, we do hereby
SELL, CONVEY, and TRANSFER, by way of Conditional Sale, unto said BUYER, his
heirs, assigns, and successors -in-interests, all our rights, interests and
participation over the described parcel of land above-stated, in the following
terms and conditions of payment:

1. The Total Contract Price for the Lot is P25,000,000.00;

2. A down payment of TWO MILLION PESOS (P2,000,000.00) shall be paid

upon signing of this contract;
3. Second payment of SIX MILLION PESOS (P6,000,000.00) will be paid after
the seller has cleared the site of the squatters;

4. The remaining balance of SEVENTEEN MILLION PESOS (P17,000,000.00)

will be paid on or before two (2) years after the 2nd payment, to be paid with
post dated checks.

5. That the SELLER shall give absolute and full control and possession of the
subject property to the BUYER and allow the introduction and
improvements thereon upon the receipt of the down and first payment
therein;

6. Further, that in the event that the SELLER should fail or deliberately refuse
to comply with his obligation, the BUYER shall be reimbursed of the
amount of the purchase price paid, cost of improvements as well as
beneficial interests and other damages that the buyer may suffer.

7. All taxes for the transfer of the ownership of the title will be paid by the
BUYER. However, since the buyer will sell townhouses to different buyers as
well, the buyer will directly transfer the TCTs to the prospective buyers of the
townhouses to be able to save payment for taxes;

8. All expenses with regard to the agent’s or the broker’s commission shall
be accountable to the Buyer;

9. Upon down payment and contract signing, the buyer shall process the
subdivision of the property with the DENR and market for townhouse project;

10. Upon full payment of the balance, the SELLER shall execute an ABSOLUTE
DEED OF SALE in favor of the BUYER and shall submit the Original Transfer
Certificate of Title, Tax Declaration, Sketch Plan and other pertinent
documents.

11. The SELLER warrants that there are no liens, easements (whether legal or
contractually granted), encumbrance or other mortgages on or over the
property and that the SELLER has not executed any instrument
 acknowledging or recognizing the existence of such easements,
encumbrance or mortgage.

12. The SELLER warrants that there is no existing or pending litigation or

action affecting the property and that the execution of this agreement will
not violate any law or agreement with third parties or requires the consent
thereof;

13. The SELLER warrants full disclosure on any or all information they have
which is necessary or useful to know with regards to the property.

IN WITNESS WHEREOF, the Parties hereto, set their hands on these presents
on the date and at the place herein above indicated.

REMEDIOS L. CASTRO-ALIGNO JOSE MA. L. CASTRO

I.D. No.___________________ I.D. No.____________________
(Represented by herein Attorney-
In-fact, Carmen L. Castro, authorized
By a Special Power of Attorney)

VICENTE L. CASTRO CARMEN L. CASTRO

I. D. No._______________________ I.D. No.____________________

FLORENCIO L. CASTRO JESUS VICTOR L. CASTRO

I.D. No._________________________ I.D. No.____________________
 Signed in the presence of:

___________________________ __________________________

ACKNOWLEDGMENT

Republic of the Philippines)

City of Cebu )S.S.

BEFORE ME, a Notary Public for and in the City of Cebu, Philippines, this
_____day of ________________, at ____________________ personally appeared
the following:

Name Competent Evidence of Identity Date/Place of Issue

______________________ ________________________ ________________

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Known to me to be the same persons who have executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act
and deed and that of the corporation herein represented.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place first above
written.

Doc. No.______;
Page No.______;
Book No.______;
Series of 2019.