DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS:

That I, LAURA G. PANGILINAN, the VENDOR, of legal age, Filipino, married to
Aguinaldo B. Pangilinan, and a resident of 60 Agustin de Legaspi Street, Project 4,
Quezon City, am the registered owner of a parcel of land situated at Libertad, Butuan
City, with an area of EIGHT HUNDRED EIGHTY EIGHT (888) Square Meters,
evidenced by Transfer Certificate of Title no. RT-49250 and more or less particularly
described as follows:
A PARCEL OF LAND, (Lot 351-F, Psd-10-001764, being a portion of Lot
531, Cad. 84 Butuan Cadastre) situated in the Barrio of Libertad, City of Butuan,
Island of Mindanao. Bounded on the NW., along line 5-1 by Lot 531-A, on the
NE., along lines 1-2 by Lot 531-G., on the SE., along line 2-3 by Lot 531-N., on
the SW., along line 3-4 by Lot 531-C., along line 4-5 by Lot 531-B, all of the
subdivision plan Psd-10-001764. Beginning at a point marked 1 on the plan
Psd-10-001764. Beginning at a point marked 1 on plan being N. 17 deg. 49W.,
785.53 N. from BLLM No. 17, Cad-84, Butuan Cadastre.
Thence S. 78 deg. 13E., 34.79 m. to point 2;
Thence S. 31 deg. 31W., 25.81 m. to point 3;
Thence N. 78 deg. 12W., 17.00 m. to point 4;
Thence N. 78 deg. 14W., 17.01 m. to point 5;
Thence N. 11 deg. 46E., 25.80 m. to point of
Beginning; containing an area of EIGH HUNDRED EIGHTY-EIGHT (888) sq. m.
more or less. all points referred to are indicated on the planned marked on the
ground P.S. Cyl. Conc. Mons. 15 x 60 cm., Bearing true date of original survey
March 1, 1916 to March 15, 1917 and that of the subdivision March 29-30, 1979
executed by Regino A. Lomarda Jr., Geodetic Engineer and approved on July
20, 1979.

That I desire to sell the aforementioned property unto ASSETS CREDIT AND
LOAN INC., a corporation duly registered under the laws of the Philippines, with
business address at The Financial Center, R. Calo Street, Butuan City, the VENDEE,
which is represented by Ms. Cristina Hemady R. Arcillas, Vice-President, who is of legal
age, Filipino and a resident of Butuan City;
That for and in consideration of the sum of ONE MILLION SEVEN HUNDRED
THOUSAND PESOS (P 1,700,000.00) PESOS, Philippine Currency, which I hereby
acknowledge receipt of FIVE HUNDRED THOUSAND PESOS (P 500,000.00) as
downpayment, the balance to be paid in monthly installments of ONE HUNDRED FIFTY
THOUSAND PESOS (P 150,000.00) through postdated checks to be given upon
execution of this instrument starting December 12, 2007 until July 12, 2008, by these
presents, I hereby conditionally SELL, CEDE, and TRANSFER unto the VENDEE, its
transferees and assigns the said property.
That immediately upon full payment of the purchase price, I hereby CEDE AND
TRANSFER in a manner absolute and irrevocable the aforementioned property unto the
VENDEE, its transferees and assigns. Thus, upon full payment, this deed of conditional
sale shall be converted into a Deed of Absolute Sale without need of preparing a new
deed.
I hereby warrant the ownership of the said property. A breach of this warranty
shall give the Vendee a cause of action for the rescission and damages against me.

IN WITNESS WHEREOF, I have hereunto affixed my signature below this 12th

day of November 2007, City of Butuan City, Philippines.
ASSETS CREDIT AND LOAN INC.
Vendee
Represented by:

LAURA G. PANGILINAN
Vendor
C.E.I. ______________________

CRISTINA HEMADY ARCILLAS

WITH MY MARITAL CONSENT:

AGUINALDO B. PANGILINAN
Husband
C.E.I _______________________
Witnesses:
____________________

______________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF BUTUAN )SS.
x---------------------------------------------.)
Before Me, a Notary Public for and in Butuan City, this _________ day of
_____________ 200___ personally appeared the aforementioned person, who
_________ is personally known to me
_________ exhibited (a) competent evidence/s of identity/ies
and known to me to be the same person who executed the foregoing instrument and
she/he/they acknowledged to me that his/her/their signature/s on the instrument is/are
freely and voluntarily affixed by him/her for purposes stated therein.
He/She further declared that he/she has the authority to sign in behalf of the
principal that he/she represents.
WITNESS MY HAND AND SEAL on the date and on the place first above
mentioned.
DOC. NO. _____
PAGE NO. _____
BOOK NO. _____
SERIES OF 2007