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DEED OF ABSOLUTE SALE

MADE:

This ___ day of April 2017 in _______________ City.

PARTIES:

SELLER: JOSE RAMON Single PANGILINAN ALILING, of legal


age, Filipino, with postal address at 6 Magsaysay St

BUYER: METROPOLITAN BANK & TRUST COMPANY –


TRUST BANKING GROUP, a corporation duly
organized and existing under and by virtue of the laws
of the Philippines, with principal office address at 18 th
Floor, GT Tower International Building, Ayala Avenue,
Makati City, represented herein by its authorized
representatives, Ms. Violeta D. Wenceslao, and Mr.
Dennis Edmund E. Balagtas, as Trustee for Trust
Account No._____________________________

RECITALS:

A. SELLER JOSE RAMON P. ALILING is the absolute and registered owner of a


residential lot located at Lot 1 Block 10 of the cons-subdivision plan PCS-13-
000819, duly designated as No. 02 Magsaysay Street, Xavierville III, Quezon
City, with an area of Four Hundred Seventy Eight (478) square meters and
covered by Transfer Certificate of Title (TCT) No. N-225627 of the Registry of
Deeds, Quezon City, more particularly described as follows (Hereinafter referred
to as the “Subject Property”):

A parcel of land (Lot 1, Blk. 10, of the cons-subd. Plan, Pcs-13-


000819, being a portion of the cons. of Lots 1 to 25, Blk. 13; Lots 1-
30, 32, 34-36, Blk. 14; Blk. 14-A, Lots 1-23, Blk. 15, Lot 3, Blk. 26 and
Road Lots 17,18,22 and 27, (LRC) Pcs-6818; LRC Rec. No. 7672) sit.
in the Quezon City, M-Manila. Bounded on the NE., along line 1-2
by Lot 2, on the SE., along line 2-3 by Lot 7 (Parks and Playground)
both of Blk. 10, on the SW., along lines 3-5 by Road Lot 9 and on
the SW., and NW, along lines 5 to 8-1 by Road Lot 5, all of the
cons-subdn. plan. Beginning at a point marked “1” on plan, being
N. 76 deg. 21’W., 3263.83m from BLLM No. 1, Marikina, Rizal;
thence S. 44 deg. 51’E, 25.00m. to point 2; thence S. 45 deg.09’W.,
14.08 m. to point 3; thence N. 73 deg. 16’W, 15.14m. to point 4;
thence N. 58 deg. 21’W, 4.04m to point 5; thence N. 28 deg. 51’W,
4.04m. to point 6; thence N. 0 Deg. 43’E, 4.04m to point 7; thence N.
30 deg. 15’E, 4.03m to point 8; thence N.45 deg. 09’E, 14.33m to the
point of beginning; containing an area of FOUR HUNDRED
SEVENTY EIGHT (478) SQ. METERS. All points referred to are
indicated on the plan and are marked on the ground by PS cyl.
Conc. Mons. Bearings true; date of the original survey, Dec. 1910-
June 1911 and that of the cons-subdn. survey, Nov. 24-31, 1986.
Approved on March 13, 1987

B. SELLER have offered to sell, and BUYER has agreed to buy the Subject Property,
on an as-is-where-is basis, for the total purchase price and subject to terms and
conditions mutually acceptable to the parties set forth in this Deed of Absolute
Sale (“Deed”).

IT IS AGREED:

1. THE SALE & PURCHASE PRICE


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For and in consideration of the sum of THIRTY-THREE MILLION TWO


HUNDRED THIRTY-FOUR THOUSAND NINE HUNDRED TWELVE PESOS
(P33,234,912.80.00), full receipt of which is hereby acknowledged by SELLER,
SELLER hereby SELL, TRANSFER and CONVEY to BUYER the Subject Property,
together with the improvements, and any and all rights pertaining thereto.

After the execution of this Deed, BUYERS shall immediately cause the payment
of taxes, fees and expenses arising from the sale of the Subject Property. BUYER
agrees to hold SELLER free and harmless from any and all liability arising out of
BUYER’s failure to comply with the above-mentioned obligation.

The presentation by BUYER of this Deed, together with proof of payment of


taxes, fees and expenses and other documents required for transfer of title shall
serve as authority for the concerned Registry of Deeds to issue the corresponding
TCT in the name of BUYER.

2. TAXES AND EXPENSES

The parties agree that all taxes, fees and other miscellaneous expenses shall be
answerable in the following manner:

a. Capital Gains Tax, Real Estate Taxes and Utilities up to the time of turn-
over, shall be for the account of SELLER;

b. Documentary Stamp Taxes, Local Transfer Taxes, Registration Fees,


notarial fees, and other miscellaneous expenses otherwise connected with
the transfer of the Title and Tax Declaration in the name of the buyer shall
be for the account of the BUYER;

c. In the event of any deficiency in the Capital Gains Tax, SELLER agrees to
immediately settle the same within fifteen (15) working days from date of
notice; In the event of any deficiency in the Documentary Stamp Taxes,
Local Transfer Taxes, Registration Fees, notarial fees, and other
miscellaneous expenses connected with the transfer of the Title and Tax
Declaration in the name of the buyer, BUYER agrees to immediately settle
within fifteen (15) working days from date of notice.

3. WARRANTIES.

The parties shall make the following representations and warranties, which
failure to fulfill shall cause this Deed of Absolute Sale to be considered rescinded
by the aggrieved party:

a. Representations and Warranties of SELLERS

1. The SELLERS warrants that they have full title and ownership over
the property and all improvements therein as described in Transfer
Certificate of Title No. N-225627 and the latest Tax Declarations over
the land. As such owner, SELLERS further warrants that they have
full rights, authority and capabilities to enter into this sale transaction,
convey and transfer full ownership over said property to the
SELLERS.

2. The SELLERS warrants that the property thereon subject of this


Contract are free from all liens and encumbrances and that the
SELLERS shall deliver a clean title to the BUYERS. Further, the
SELLERS warrants that the subject property is not involved or is not
the subject of litigation, claim or suit, judicial or administrative.

3. The BUYERS warrants to uphold the rights of the SELLERS over said
property. Further, the SELLERS undertakes to defend the lawful
rights and interest of the BUYERS over the property subject of this
Contract in the event a third party claim is made.

b. Representations and Warranties of BUYERS

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1. The BUYERS warrant that they have full rights and authority to enter
into this contract with the SELLERS.

2. The SELLERS warrant that full title and ownership shall only transfer
upon full payment of the agreed contract price.

4. BINDING EFFECT

This Deed shall be binding upon the parties and their respective heirs or
successors-in-interest and assigns.

5. ENTIRE CONTRACT/AMENDMENT

This Deed states the entire agreement between the parties with respect to the
subject matter hereof and supersedes all prior communications, stipulations,
representations, promises or agreements, oral or written, between them with
respect to the same. Any amendment of this Deed shall not be valid unless in
writing and signed by the parties.

6. SEVERABILITY

Should any one or more provisions of this Deed be held invalid, illegal or
unenforceable in any respect by a competent court, the validity, legality and
enforceability of the remaining provisions herein shall not in any way be affected
or impaired.

IN WITNESS WHEREOF, the parties have hereunto set their hands on the date and
in the place first above-written.

JOSE RAMON PANGILINAN ALILING METROPOLITAN BANK & TRUST


Seller COMPANY – TRUST BANKING
GROUP AS TRUSTEE FOR TRUST
ACCOUNT NO ________________
Buyer

Represented by:

VIOLETA D. WENCESLAO

DENNIS EDMUND E. BALAGTAS

SIGNED IN THE PRESENCE OF:

CHARLOTTE COWPER PAUL ANG

ACKNOWLEDGMENT

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REPUBLIC OF THE PHILIPPINES)


) S.S.

BEFORE ME, a Notary Public for and in ___________________________,


personally appeared the following:

NAME COMPETENT EVIDENCE OF


IDENTITY / TIN

JOSE RAMON PANGILINAN ALILING TIN: 203-787-363

VIOLETA D. WENCESLAO
In behalf of TIN: 123-365-137
METROPOLITAN BANK & TRUST
COMPANY – TRUST BANKING GROUP

DENNIS EDMUND E. BALAGTAS


In behalf of TIN: 195-423-104
METROPOLITAN BANK & TRUST
COMPANY – TRUST BANKING GROUP

personally known to me to be the same persons who executed this Deed of Absolute
Sale consisting of _____ (___) pages, including this page on which the Acknowledgment
is written, and they acknowledged to me that the same is their free and voluntary act
and deed.

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

Doc. No. ________;


Page No. ________;
Book No. ________;
Series of 2017.