CONTRACT TO SELL OF FORESHORE LAND

KNOW ALL MEN BY THESE PRESENTS:

This contract to sell, made and entered into by and between JULIETA A.
CORNAL of legal age Filipino and with residence and postal address at
Barangay Bagumbayan, Masbate City, now and hereinafter referred to as the
FIRST PARTY and ROY D. PEKITPEKIT, likewise of legal age married Filipino
and a resident of Brgy. Ibingay, Masbate City Philippines, now and hereinafter
referred as the SECOND PARTY.
WITNESSETH
WHEREAS, the first party is the absolute owner and in actual possession
of the remaining portion of foreshore land with FLA NO. 054111-349 applied
by QUIRINO E. CORNAL (DESEASED) Husband of JULIETA A. CORNAL,
located at Brgy. Bagumbayan Masbate City and more particularly described
here under as follows to wit:
The remaining portion of foreshore land containing an area at 15.40 m x
100m or 1,540 square meters, more or less and bounded on the North by
circumferential road ; on the East by Judith Ilanan; on the South by Julieta
Cornal; and on the West by Mrs. Elena Maglente and Mr. Vicente Sy.
WHEREAS, the first party hereby agreed to sell to the second party the
above described foreshore land together with all the improvements existing
thereon under the terms and conditions hereinafter setforth:
NOW, therefore in consideration of the sum of TWO MILLION PESOS ( P
2,000,000.00) Philippine Currency as the selling price of the above mentioned
property shall be paid in the following manner, to wit:
1.) The second party undertakes and agrees to pay the first party the sum
of one hundred thousand pesos ( 100,000.00) Philippine currency as an
initial down payment to be used for the processing of papers of the said
FORESHORE LAND such as : FLA APPLICATION , SURVEY
CERTIFICATION AND OTHER DOCUMENTS related to the transaction .
2.) That both parties agreed that the remaining balance of one million nine
hundred thousand pesos ( 1,900,000.00) Philippine currency shall be
paid in the following manner, to wit.
a.) End of March 2017 P 500,000.00
b.) End of June 2017 P 500,000.00
c.) End of September 2017 P 500,000.00
d.) End of Dec 2017 P 400,000.00
3.) That both parties agreed that upon payment of the second payment
which is on end of June 2017 the second party shall immediately take

possession of the above described property and introduce improvements

thereon.
4.) That upon receipt of the full payment from the SECOND PARTY the
FIRST PARTY shall execute in favor of the SECOND PARTY of his heirs
and assigns a Deed of Quitclaim and Waiver of Rights of the abovementioned foreshore land and the SECOND PARTY his heirs and assigns
shall accept such DEED OF QUITCLAIM OF WAIVER OF RIGHTS
instrument as full performance by the FIRST PARTY of its covenant and
undertakings.
IN WITNESS WHEREOF, parties have hereunto set their hands this___
day of November, 2016 at Masbate City Philippines.

JULIETA A. CORNAL
First Party

ROY D. PEKITPEKIT
Second Party

SIGNED IN THE PRESENCE OF:

1. ______________________
(Witness)

2. ________________________
(Witness)

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

PROVINCE OF MASBATE
CITY OF MASBATE
x-------------------------------------x

)
) S.S
)

BEFORE ME, a Notary Public for and in the City of Masbate,

Philippines personally appeared,
Name
JULIETA A. CORNAL
ROY D. PEKITPEKIT

CTC NOS.

ISSUED ON

ISSUED AT

All known to me and to me known to be the same persons who executed the
foregoing instrument and further acknowledge the same is their free, voluntary
act and deed.

WITNESS MY HAND AND AFFIXED MY NOTARIAL SEAL, this ______ day

of November,2016 at Masbate City Philippines.

_____________________
Notary Public
Doc. No_______;
Book No.______;

Page No.______;
Series of 2016