This Deed of Sale with Right to Repurchase made and executed by and
between:
Josefa Santos, of legal age, married, and a resident of Luinab, Iligan City
hereinafter referred to as the SELLER;
and
Maria Makiling, of legal age, Filipino, widow, and a resident of Palao, Iligan City
hereinafter referred to as the BUYER.
WITNESSETH:
That the seller is the owner of a certain parcel of land situated at Luinab, Iligan City, and
more particularly described as follows:
That the seller, for and in consideration of TWO HUNDRED NINETY THREE
THOUSAND SEVEN HUNDRED PESOS (PHP 293,700.00) plus 114 sacks of 50 kilos
of Young Master, receipt in full and hereby acknowledged by her to her satisfaction,
hereby sell, transfer and convey unto said buyer, his heirs and assigns, the above
described property with all the buildings and improvements thereon.
THAT the SELLER, in executing this conveyance, hereby reserves the right to
REPURCHASE, and the BUYER, in accepting the same, hereby obligates himself to
RESELL the property herein conveyed within a period of 3 months from and after the
date of this instrument for the same price of TWO HUNDRED NINETY THREE
THOUSAND SEVEN HUNDRED PESOS (PHP 293,700.00) plus 114 sacks of 50 kilos
of Young Master: Provided however, that if the SELLER fails to exercise her right to
repurchase as herein granted within the period stipulated, then this conveyance shall
become absolute and irrevocable, without the necessity of drawing up a new deed of
absolute sale, subject to the requirements of the law regarding consolidation of
ownership of real property.
IN WITNESS WHEREOF, the parties have hereunto set their hands this 30 th of
April 2016 in Iligan City.
Seller Buyer