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CONTRACT TO SELL 30m CEBU

Contract to sell

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Ritams Corp
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39 views8 pages

CONTRACT TO SELL 30m CEBU

Contract to sell

Uploaded by

Ritams Corp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

THIS CONTRACT TO SELL made and executed this ______________day of


2023 in the city of by and between:

MARGARITO MANUEL C. YU married to TERESITA F. YU, both of


legal age, Filipino and a resident of ____________________________, Province
of Cebu, herein referred to as the SELLER;

And

NSON DEVELOPMENT CORP. a corporation duly organized and


existing under and by virtue of the Laws of the Republic of the Philippines,
with postal address at Lot 2, Fochum Industrial Park, Santol, Balagtas,
Bulacan, represented by its President, ANSON O. JUANITAS, of legal,
Filipino, hereinafter referred to as the BUYER;

WITNESSETH:

WHEREAS the SELLER is the absolute claimant of a parcel of land


described in Tax Declaration No. 57219, 57218 and 44439 situated in
Brgy. Tayud, Consolacion, Cebu, Philippines, hereinafter referred to as
the PROPERTY, and more particularly described as follows:

TAX DECLARATION NO. 57218

Lot No. 1 Psu-131952

North: NE Lot 3, PSU-131952 South: Public Land


East: Foreshore Land West: Public Land

TAX DECLARATION NO. 44439

Lot No. 2 Psu-131952

North: NE Public Land East: SE Public Land


South: SW Lot1 PSU-131952 West: NW Lot 3, PSU-
131952

TAX DECLARATION NO. 57219

Lot No. 3 Psu-131952

North: Barrio Road South: SW Lot 1, PSU-131952


East: SE Lot 2 West: NW Simeon Pepito

WHEREAS, the SELLER offered to sell to the BUYER the parcel of


land covers in Tax Declaration No. 57219, 57218 and 44439 with total
area of 37 hectares more or less located at Brgy. Tayud, Cons olacion
Cebu , f o r t h e a m o u n t o f P h p 8 0 0 . 0 0 p e r s q m A s I s W h e r e
I s and after negotiation, the BUYER agreed to buy the same under
certain terms.

NOW THEREFORE, for and in consideration of the foregoing


premises, the parties entered into this Contract To Sell, as follows;

1. That the SELLER, for and in consideration of the amount of


TWO HUNDRED NINETY SIX MILLION PESOS (P296,000,000.00
) agreed the total price to be paid in accordance with the
terms hereinafter set forth, do by these presents, SELL, and
DELIVER by the way of Contract to Sell unto the BUYER, his heirs,
successors and assigns that the Property under Tax Declaration
No. 57219, 57218 and 44439 with an area of 37 hectares more
or less, of which the SELLER is the absolute claimant subject to
the following terms and conditions.

2. The BUYER shall pay the SELLER the total agreed price of
TWO HUNDRED NINETY SIX MILLION PESOS ( P
296,000,000.00) in the following manner.

a. The 1st payment of THIRTY MILLION PESOS


(30,000,000.00) as initial payment shall be made upon the
execution of this contract as earnest deposit / down payment.

b. The 2nd payment amounting of FIFTEEN MILLION PESOS


(15,000,000.00) shall be made upon delivery by the
SELLER to the BUYER the Original Copy/Certified Copy of
the covering Tax Declaration No. 57219, 57218 and
44439 and all other documents pertaining to the
transaction within the period of minimum of 30 days,
maximum of 60 days.

c. The remaining balanced amounting of TWO


HUNDRED FIFTY ONE MILLION PESOS
(251,000,000.00) will be divided into THIRTY SIX
MONTHS ( 36 ) POST DATED CHECKS and shall be
made upon the completion of the documents and transfer of
Tax Declaration to the BUYER’S name, delivery by the SELLER
to the BUYER the Original Copy of Transfer Certificate of title,
and actual possession of property with Security Guard.

In any event that the BUYER defaults, or for whatever reason fails
to pay the balance after the same becomes due and demandable
under this Contract, the down payment shall be forfeited in favor
of the SELLER as liquidated damages. The BUYER shall be
deemed in default upon service by the SELLER of a legal demand
to pay the balance on the purchase price, and the BUYER still fails
or refuses to pay such.

3. That the BUYER will shoulder the costs of delinquent tax


deductible to the amount agreed by the parties, and expenses
for capital gain tax, real property taxes, notarial fees,
documentary stamp taxes, registration fees, and all other fees
and expenses necessary in the registration of this Contract and
transfer of original documents to the name of the BUYER.

4. The SELLER warrants that they has a JUST,CLEAN, and Legal


Tax Declaration as well as possession of subject properties & other
certificates from Barangay, Assessor & CENRO as the proof of their
claims, also still untitled from upon execution of this contract and
that the issuance of their title certificate is still under process and
will eventually be processed upon their name or upon the approval
of the survey plan in favor of the BUYER’S name or corporation.

That the transaction is entered into between the parties in good


faith, and in no way executed to prejudice or defraud third person or
entity.

THAT, I, as BUYER to the property inspected the same subject of


this Contract, and I am fully satisfied with its present conditions .

IN WITNESS THEREOF, we have hereunder affixed my hands this


day of at Quezon City , Philippines.

MARGARITO MANUEL C. YU NSON DEVELOPMENT


CORP.
Seller Buyer

TERESITA F YU
with my marital consent ANSON O. JUANITAS
Represented by
SIGNED IN THE PRESENCE OF

Virgilio G. Montebon Shallie P. Espiritu

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


QUEZON CITY……………………..) s .s .

BEFORE ME, a Notary Public for and in Quezon City personally


appeared the following:

Name Competent Evidence of Identity

MARGARITO MANUEL C. YU __________________________

TERESITA F. YU __________________________

ANSON O. JUANITAS _________________________

All known to me and to me known to be the same persons who


executed the foregoing instrument and their acknowledge to me that
the same is free and voluntary act and deed.
This instrument consisting of Four ( 4 ) pages including the page
acknowledgement is written, sign on the left margin by
the parties together with their instrumental witnesses on each and every
hereof signed and sealed with my notarial seal .

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

Notarial Seal
Doc. No. ___
Page No. ___
Book No. ___
Series of 2023:

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