CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell is made and entered into by and between:
JBM Realty and Development Corp., a domestic corporation organized
and existing under the laws of the Philippines, with principal office at 4 th
Floor, Aqua Building, Emilio Aguinaldo Ave., Iligan City, Philippines, herein
represented by its President, CARLOS C. CEPEDA, of legal age, single,
Filipino, and a resident of 0022 Narra Road, Frontier Village, Pala-o, Iligan City,
Philippines, per Secretarys Certificate attached as Annex A hereof,
hereinafter referred to as the SELLER;
-andMASICAP MSME, INC., a domestic corporation organized and existing under
the laws of the Philippines, with principal office at 1 st Floor, Room 119, DBP
Building, Tibanga, Iligan City, Philippines, herein represented by its Chairman,
NANETTE T. AGDEPA, of legal age, single, Filipino, and a resident of Lot 414
Villa Corta, Andrada Heights, Del Carmen, Iligan City, Philippines , per
Secretarys Certificate attached as Annex B hereof, hereinafter referred to
as the BUYER;
WITNESSETH:
WHEREAS, SELLER is the registered owner of a parcel of land known as Lot No. 15,
with an area of Sixty Five Thousand One Hundred Eight Square Meters (65,108 sq.
m), more or less, situated at Madonna Village, Tambo, Iligan City, Philippines and
covered by Transfer of Certificate Title No. J-14344 of the Registry of Deeds for the
City of Iligan;
WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell the
above-mentioned property under the terms and conditions agreed by the parties
and set forth below;
NOW THEREFORE, for and in consideration of the sum of THIRTY TWO MILLION AND
FIVE HUNDRED FIFTY FOUR THOUSAND PESOS (P 32,554,000.00), Philippine
Currency, and of the covenants hereinafter set forth, the SELLER agrees to sell and
the BUYER agrees to buy the aforementioned real property subject to the following
terms and conditions:
1. Purchase Price. The total consideration shall be THIRTY TWO MILLION AND
FIVE HUNDRED FIFTY FOUR THOUSAND PESOS (P 32,554,000.00), Philippine
Currency, payable as follows:
1.1 The down payment of P 12,554,000.00 shall be paid upon the signing of this
contract; and

1.2 The remaining balance of P 20,000,000.00 shall be paid in five (5) equal
monthly installments and covered by post-dated checks, as follows:

a)
b)
c)
d)
e)

September 23, 2015

October 23, 2015
November 23, 2015
December 23, 2015
January 23, 2016
TOTAL

P 4,000,000.00
P 4,000,000.00
P 4,000,000.00
P 4,000,000.00
P 4,000,000.00
P 20,000,000.00

2. Payment of Taxes. The BUYER shall pay the Capital Gains Tax (CGT),
Documentary Stamp Tax (DST), Transfer Tax and registration expenses and other
fees and charges that will be incurred leading to the transfer of the certificate of
title in the name of the herein BUYER;
3. Delivery of Possession. Upon the signing of this Contract, the SELLER shall
deliver the physical and actual possession of the parcel of land subject of this
contract to the BUYER;
4. Execution of Deed of Sale. Upon full payment of the purchase price, SELLER
hereby undertakes to execute the required deed of sale and any other legal
document leading to the transfer of the title in favor of the BUYER;
5. Suits- Lawsuits arising from this Contract shall be settled in the proper Courts
of Iligan City;
6. Parties hereby bind and obligate themselves to faithfully comply with the
terms and conditions of this contract. Parties may modify, alter or amend any
provision of this contract provided the same is reduced in writing and mutually
agreed by them.
IN WITNESS WHEREOF, parties have hereunto affixed their signature this 23 rd day of
August 2015, in the City of Iligan, Philippines.
JBM REALTY AND DEVELOPMENT CORP.

MASICAP

Seller
By:

MSME,

INC.

Buyer
By:

CARLOS C. CEPEDA
President
Signed
in
the
presence
of:
____________________________________

NANETTE T. AGDEPA
Chairman
______________________________________

&

Signed
in
the
presence
of:
____________________________________

______________________________________

&

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF ILIGAN

) S.S.

BEFORE ME, this 24th day of August 2015, in the City of Iligan, Philippines,
personally appeared the following parties exhibiting to me their TIN IDs, as follows:
Name
1. Carlos C. Cepeda
2. Nanette T. Agdepa

TIN

Place Issued

292-489-621
143-631-286

Iligan City
Iligan City

Known to me to be the same persons who executed the foregoing instrument and
they acknowledged to me that the same is their own free and voluntary acts and
deeds and of the corporations represented herein.
This instrument consisting of three (3) pages including this page on which this
acknowledgment is written, has been signed by the parties and their instrumental
witnesses, on each and every page hereof.
WITNESS MY HAND AND SEAL on the date, year and place above-written.
ATTY. HABIB HAMDI S.
MUSTAPA
Doc. No. 812;
12/31/2015
Page No. 17;
Iligan City
Book No. III;
City
Series of 2015.

Notary Public
For the City of Iligan
Comm. Reg. No. 143, Until
PTR No. 4321032, 1/12/2014,
IBP No. 321031, 1/12/2014, Iligan
Attorneys Roll No. 58012