Memorandum of Agreement

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT, made and entered in __________________, Metro

Manila, Philippines, on this ____ day of September 2022, by and between:

______________________________________________ represented by Attorney-In-Fact

___________________________, Filipino Citizens, legal age, and resident of
____________________________________________________________________________________
____________________________________ hereinafter referred to as the “SELLER”,

-and-

_______________________________________________ Filipino Citizens, legal age, and resident of

____________________________________________________________________________________
____________________________________________ hereinafter referred to as the “BUYER”.

WITNESSETH THAT:

WHEREAS, the SELLER is the registered owner of SMDC COAST RESIDENCES, a condominium unit
in Roxas Boulevard Corner Dapitan St., Brgy. San Rafael, Pasay City, Philippines and with Unit No. of 2458,
Family Suite B w/ Balcony, Tower 1, consisting of 26 sqm, more or less, developed by SM Development
Corporation hereinafter referred to as the “CONDOMINIUM UNIT”.

WHEREAS, the SELLER desires to sell their CONDOMINIUM UNIT and the BUYER desires to
purchase the said property under the terms and conditions set forth hereunder.

NOW THEREFORE, for and in consideration of the foregoing, the SELLER and BUYER agree,
stipulate, and undertake the following terms and conditions, to wit:

1. The total consideration of the CONTRACT PRICE FOR THE CONDOMINIUM UNIT FOR SALE shall
be (Php 3,150,000.00) Three Million One Hundred Fifty Thousand Pesos Only, Philippine
Currency, payable through CASH and LOAN, excluding all related expenses to transfer the
Certificate of Condominium Title from SELLER to BUYER.

2. The BUYER shall pay the consideration to the SELLER the sum of (Php 3,150,000.00) Three Million
One Hundred Fifty Thousand Pesos Only in the amounts and manner as described below:
Breakdowns are as follows:

● Php 8,000.00 – Representing Condo Dues from June 2022 to September 2022 with Interest as
of September 24, 2022. Payable to Coast Residences Condominium Corporation on September 24,
2022, payment thru CASH ONLY.
● Php 24,000.00 – Representing September 13, 2022 Loan Amortization with Interest and Penalty
as of September 24, 2022. Payable to BDO Unibank Inc on September 24, 2022, payment thru CASH
ONLY.
● Php 307,339.86 – Representing 50% partial payment to SELLERS & BROKERS / AGENTS FEE on
September 24, 2022, payment thru CASH ONLY.
● Php 307,339.86 - Representing 50% full payment to SELLERS & BROKERS / AGENTS FEE once
the requirements stated in item no. 5 of this Memorandum of Agreement is available, payment thru
CASH ONLY.
● Php 2,503,320.28 – Representing the Outstanding Principal Loan Balance as of September 13,
2022 (excluding interest and insurance). Payable to BDO Unibank Inc. (continuous payment to BDO
until loan take out)

2.1 In case the BUYER could not fulfill any of their obligation stated in this Memorandum of
Agreement, the paid money indicated in the breakdown above shall be forfeited in favor the
SELLER.

2.2 In case the SELLER could not fulfill any of the obligations stated in this Memorandum of
Agreement, the BUYER shall be entitled to a full refund after 30 calendar days of occurrence.

2.3 In case the BUYER cancelled the purchase of the CONDOMINIUM UNIT, the paid money
indicated in the breakdown above shall be forfeited in favor the SELLER.

2.4 In case the SELLER cancelled the sale of the CONDOMINIUM UNIT, the BUYER shall be entitled
to a full refund after 30 calendar days of occurrence.

3. The SELLER represents and warrants that the total Outstanding Principal Loan Balance to BDO
Unibank Inc. in respect of the total contract price for the purchase of the CONDOMINIUM UNIT
is (Php 2,503,320.28) Two Million Five Hundred Three Thousand Three Hundred Twenty Pesos
and Twenty-Eight Centavos Only as of September 13, 2022.

4. The SELLER agrees to provide the CONDOMINIUM UNIT keys and will endorse the BUYER to the
SMDC Coast Residences Admin upon paying the amount of Php 339,339.86 (June 2022 to
September 2022 condo dues, September 13, 2022 loan amortization and 50% payment to
SELLERS & BROKERS / AGENTS FEE).
4.1 The SELLER and BUYER agree to sign Contract of Lease for move in purposes only. Contract of
Lease shall be voided once ownership of CONDOMINIUM UNIT for sale is transferred and
registered to the BUYER in the SMDC Coast Residences Admin.

5. The SELLER agrees to execute Deed of Absolute Sale in favor of the BUYER and provide the
following documents to the BUYER upon receiving the full payment of Php 307,339.86.

● Condominium Certificate of Title (Photocopy)

● Tax Declaration (Photocopy)
● Deed of Absolute Sale from SMDC (Photocopy)
● Latest Real Property Tax Receipt (Photocopy)

6. The BUYER agrees to shoulder all expenses related to transfer of Condominium Certificate of Title
from SELLER to BUYER.

● Docs Stamp
● Transfer Tax
● Capital Gains Tax
● Registration Fee
● Notarial Fee
● Processing Fee
● Miscellaneous Fee

7. The BUYER agrees to pay the Real Property Tax that will be advanced by SMDC upon releasing of
SELLERS CCT and moving forward.

8. The BUYER agrees to pay the outstanding loan balance with interest and insurance starting
October 13, 2022 moving forward to BDO Unibank Inc. until loan take out, including penalty if
any.

9. The BUYER agrees to pay the Condominium Unit Association Dues starting October 2022 billing.

10. The SELLER and BUYER agrees to continue the sale of CONDOMINIUM UNIT irrespective of any
unforeseen circumstances in the future of both parties.

11. The BROKER / AGENTS agree to assist the SELLER and BUYER to ensure the fulfillment of both
parties’ obligations stated in this Memorandum of Agreement.
The parties hereto agree that the SELLER may assign her rights under this deed to such other persons or
entity she may so designate.

______________________________
SELLER / ATTORNEY IN FACT

______________________________
BUYER

SIGNED IN THE PRESENCE OF:

_________________________ ________________________
BROKER / AGENT BROKER / AGENT

REPUBLIC OF THE PHILIPPINES) S.S.

___________________________ )

ACKNOWLEDGEMENT

BEFORE ME, a notary public in ______________________City, Philippines, on this ____ day of

________________ 2022 personally appeared the following with their respective valid ID, to wit:

NAME GOVERNMENT-ISSUED I.D. EXP. DATE/PLACE OF ISSUE

______________________ ______________________ ______________________
______________________ ______________________ ______________________
_____________________ ______________________ ______________________

Known to me and to me known to be the same persons who executed the foregoing Memorandum of
Agreement over one (1) Condominium Unit thereon, which contract consists of four (4) pages including
the page on which this acknowledgement is written, and signed at the left margin of each and every
page by the parties executing this contract and their witnesses and sealed with my notarial seal and said
persons acknowledged to me that the same is their free and voluntary act and deed.

Doc. No. _____

Page No. _____
Book No. _____
Series of 2022