DEED OF CONDITIONAL SALE Activity On Law On Sales

DEED OF CONDITIONAL SALE
KNOW ALL MEN BY THESE PRESENTS:

This DEED OF CONDITIONAL SALE is made and executed on this 28th
day October 2021, at Room 2, Dimagiba Building, Brgy. Masaya, Sorsogon
City.
I, PAUL JOHN R. PACHECO, Filipino, of legal age, married to Dhona J.
Pacheco, and with residence and postal address at phase 3, Seabreeze
Homes, Sorsogon City, hereinafter referred to as the VENDOR;
-in favor of-
MYLA A. CO, Filipina, of legal age, single and with residence and
postal address at Lot 70 Phase 1, Kagandahan Village, Sorsogon city,
hereinafter referred to as the VENDEE.
WHEREAS the VENDOR is the registered owner of a certain parcel of
land situated in Brgy. Halimuyak, Sorsogon City and covered by Transfer
Certificate Title (TCT) No. 1234869 of the Registry of Deeds for Sorsogon
City, free from liens and encumbrances and more specifically described as
follows:
“A parcel of land (lot 1-A of the subd. Plan Psu- 12-001231,
situated in Brgy. Marangal, Sorsogon City, bounded on NE, along line 1-3,
by lot 4; on the SE along line 4-5 by lot 11 both of block 8 xxx; containing an
area of 300 square meters.
WHEREAS, the VENDOR has agreed to SELL, CEDE, TRANSFER and
CONVEY the above-described property to the VENDEE for a valuable
consideration as hereunder stated, and the VENDEE has agreed to BUY and
ACQUIRE the same for the stated consideration.
NOW, THEREFORE, for and in consideration of the foregoing
premises and of the terms and conditions hereinafter set forth, PARTIES
have agreed as follows:
1. The total contract price for the above-described parcel of land is
ONE MILLION PESOS (Php 1,000,000.00)
2. The total contract price of ONE MILLION PESOS (Php
1,000,000.00) shall be paid according to the following schedule:
2.1 FIVE MILLION PESOS (Php 500,000.00) which VENDOR
hereby acknowledges to have received from the VENDEE,
and which amount shall be applied as partial payment of
the contract price.
Page 1 of 3
2.2 The balance of FIVE HUNDRED THOUSAND PESOS (Php
500,000.00) shall be paid upon release of VENDEE’S loan
at Banco de Oro, which shall not be more than 3 months
from the signing of this Deed.
3. VENDOR understands that VENDEE shall offer the herein subject
property to Banco de Oro as collateral for a loan that is applying
for. VENDOR undertakes to extend its full cooperation in
executing and submitting all necessary documents as may be
required by the Bank for purposes of processing the VENDEE’S
loan application. Such cooperation includes, but not limited to the
execution of the Deed of Absolute Sale and the transfer of
registration of title in the name of the VENDEE after VENDOR’S
receipt of Notice from the Bank that the loan has been approved
and the Letter of guarantee will be issued in favor of VENDOR.
4. It is understood that Capital Gain Tax shall be for the account of
the VENDOR. Documentary Stamps Tax, Transfer Tax, and
Registration Fees and other miscellaneous fees or expenses for
the transfer of the title in the name of the VENDEE shall be for the
exclusive account of the VENDEE.
IN WITNESS THEREOF, the PARTIES hereto have set their hands

on the date and at the place first above written.
_______________________ ____________________
VENDOR VENDEE
SIGNED IN THE PRESENCE OF:
1. __________________ 2. _________________
Paulo Tan Sarah Batan
Tin No. 78964456 Tin No. 4563138
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )

CITY OF SORSOGON: S.S.
PROVINCE OF SORSOGON )
Page 2 of 3
BEFORE ME, a Notary Public for and in the City above-stated, this 28th
day of October, 2021 personally appeared at Door 370, Matibay Building,
Brgy. Makatarungan, Sorsogon City with their Tax Identification Cards
bearing their photographs and signatures and claim to me to be the same
persons who executed the foregoing instrument and acknowledge to me
that the same is their own free act and voluntary deed.
WITNESS MY HAND AND NOTARIAL SEAL on the date and place first
above written.
Atty. Page Pacheco

Notary Public
ROLL No. 7896- March 15, 2013
IBP O.R No. 1231/ LIFE
PTR No. 123654- January 2, 2021
MCLE 41378 July 28, 2021
Doc. No.: 789

Page No.: 78
Book No.: 87
Series of 2021
Page 3 of 3

DEED OF CONDITIONAL SALE Activity On Law On Sales

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DEED OF CONDITIONAL SALE Activity On Law On Sales

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DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS:

IN WITNESS THEREOF, the PARTIES hereto have set their hands

SIGNED IN THE PRESENCE OF:

REPUBLIC OF THE PHILIPPINES )

Atty. Page Pacheco

Doc. No.: 789

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