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DEED OF CONDITIONAL SALE
This DEED OF CONDITIONAL SALE is made, and entered into by:
TERESITA ERNANO SIOCO, of legal age, Filipino, widow, resident of and with postal address at, Gerona, Tarlac, Philippines, hereinafter referred to as the “SELLER”; -AND- JONAS DE VENECIA, of legal age, married, Filipino citizen and a resident of Camangaan, West Moncada, Tarlac, hereinafter referred to as the “BUYER”. WITNESSETH: WHEREAS, the SELLER is the registered owner of a certain parcel of land, covered by TCT No. 70831, situated in San Manuel, Tarlac of the Registry of Deeds for the Province of Tarlac, a copy of the subject title is hereto attached for reference.
WHEREAS, the SELLER is offering for sale her rights, interests and participation of the UNDIVIDED FIVE HUNDRED (500) PORTION of the above-mentioned subject property for a total consideration of FIVE HUNDRED THOUSAND PESOS (Php500,000.00), Philippine Currency, free from all liens and encumbrances to any person interested the same; WHEREAS the BUYER, hereby accept the offer of the SELLER and as such hereby proposes the following terms and condition for the payment of the consideration herein mentioned , to wit; 1. That the BUYER shall pay the amount of ONE HUNDRED THOUSAND PESOS (Php100,000.00) Philippine Currency, representing down payment upon execution of this contract;
2. That the remaining balance of FOUR HUNDRED THOUSAND
(Php400,000.00) Philippine Currency, shall be paid for ten (10) months;
3. That the VENDEE hereby reserves the exclusive right to purchase the aforementioned subject property and the VENDORS cannot offer the aforementioned properties to any third party until all issues are settled;
4. That upon full payment, the VENDORS shall execute a DEED OF
ABSOLUTE SALE in favor of the VENDEE conveying the subject property full warranty of a legal and valid title as provided by law, free from all liens and encumbrances;
5. That upon execution of the DEED OF ABSOLUTE SALE, the VENDOR
shall undertake the payment of the Estate Tax, Capital Gain Tax while the VENDEE shall shoulder the payment of Documentary Stamp Tax, Transfer Tax, Registration Fee and all other expenses in transferring the title under her name;
6. In case of voluntary cancellation of this agreement by any of the PARTIES
without any cause on both parts or if the VENDOR fails to comply with the sale of the above-mentioned subject property, then the VENDEE shall have the right to terminate this agreement, in which case the EARNEST MONEY in the amount of Php100,000.00 shall be forfeited in favor of the VENDEE as liquidated damages;
7. This AGREEMENT shall bind the heirs and successor-in-interest of each
parties in case of death of one party.
IN WITNESS WHEREOF, I have hereunto set my hand this ____________,
at Tarlac City, Philippines.
TERESITA ERNANO SIOCO
Seller
JONAS DE VENECIA Buyer
SIGNED IN THE PRESENCE OF:
1. _________________________ 2. ___________________________ REPUBLIC OF THE PHILLIPINES) CITY OF TARLAC. ) S.S
BEFORE ME, notary public for and in the Province of Tarlac, this _________, day of ___________, at Tarlac City, personally appeared the above named persons known to me to be the same persons who executed the foregoing Deed of Conditional Sale, consisting of the two (2) pages, including this page wherein this acknowledgement is written, signed, by the parties and their (2) instrumental witnesses on each and every page thereof and they acknowledged before me that the same is their free and voluntary act and deed. WITNESS MY HAND AND SEAL. Doc. No. ______________; Page No. _____________ ; Book No. _____________ ; Series of 2019;
