CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract entered into by and between:

ARMED FORCES AND POLTCE MUTUAL BENEFTT ASSOC|ATTON, tNC. (AFPMBA|), a

corporation duly organized and exisling under the laws of the Philippines with principal offlce address at
AFPtvlBAl BIdg., Col Bonny Serrano Road corner EDSA, Quezon City, represented by its President and
CEO IVGEN EDGARDO RENE C SAMONTE AFP (RET), hereinafter referred to as the VENDOR

And

AIME A GADAINGAN, of legal age, single/rngntell tO CYRIL M GRE , Filipino, and with
address at Sta Maria, Paqadian Citv, hereinafter refened to as the VENDEE

WITNESSETH: That:

WHEREAS, the VENDOR is the absolute owner of one parcel/s of land and all its improvements
thereon situated at Brqy Bulatok, Paqadian City Province of Zamboanqa del Sur consisting of 140 square
\t
meters, more or less, and more particularly described as follows:
LOT NO, 24 BLK NO. 7 SUBDIVISION MUTUAL EXECUTIVE HEIGHTS HOUSING UNIT TYPE LOt ONIv
Evidenced by TCT No. T-24,309 of the Registry of Deeds of the Province of Zamboanga del Sur,
Philippines;

TCT No. T-24,309

Lot 24 Blk 7, Pcs-09-003452

A parcel of land (Lot 24 Blk 7) of the consolidationisubd, plan, Pcs-09-003452, being a
portion of lots 207-B-2-B, Psd-09-030794, 1015$C-2-B, Psd-09-030793, 10161-B-3, Psd-09-0'10040 and
10185-8, Psd-09-030792, situated in the Barangay of Bulatok City of Pagadian, lsland of Mindanao.
Bounded on the NW, along line 1-2 by lot 23 blk 7, along line 2-3 by lot 25blk 7, on the NE, along line 3-4
by lot 26 blk 7, on lhe SE, along line 4-5 by road lot 2; on the SW, along line 5-1 by lot 22blk7, all o:f lhe
consolidation/subd. plan. Beginning at a point marked "1'on plan being N.74 deg. 06'W,'1957.70 m, from
BLLM No.5 Pls-119, Pagadian Public Land suM. thence;

N. 18-29'E,7.00m. to point 2; N. 1&41'E, 3.00m to point 3;

S. 71-25'E, 14.00m. to point 4; S. 1&34'W, '10.00m to point 5;
N. 71-25'W, 14.00m. to point of beginning, containing an area of ONE HUNDRED
FORTY (140) SQUARE METERS, more or less.

President and CEO

 \\'
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rjlti :t: r,S lirr Vi-ti0Eli di-.sii(,s k) li,r, arr(i iiie Vr:NDOR is willing to Sell the abovementioned
,t,r ,n ac ,,1,,,,.;t, ,,,,,1,, ilie terrrts eild oortll;iir)t!9 ',.rrein Agreed Upon by the pafties,
\
ii'rri 'r'"r.r:?r ior aqC .rr r-onsi,.ieratioil
. -3i the fcregoing premises, the VENDOR does hereby
'!-c ":'RA1,lSFllR,
" r SF:, i- ,ra,i CONVIiY unio iire VENBEE, his/her heirs, assigns and successors-in-
,1, ,1;;3[r- ].,rF6rri,_ r,-r(i rr.cnr_,rlv. subiect tr". llte fr:llowing lerms and conditions, to \itiitl

tc tlie \/[tlDOli the amount of Three hundred thirtv six thousand

.. *:r3[,,i) ,] i_l) r.) ':r.,-:,.irc\/, ,,. ,,rii r.,rnsideration for the sale or Contract price of tile
, , , -r;;-,..r; r ".,, ,,_r:, I i;. .ls , l,,lws,
r\.

\
,/, \,:: 'i
rr ,, ''-' acl.rt,.,. ,)dgr)s rcceipi oi the following amount:

i' "-i'lA. -.. rei.r, esenting e"! nesl rnoney under official receipt no

i ii i_ _ _ .. 31: i.rsrtiai oa)/nent fcr the downpayment under official receipt

I ..ijt ltii lrayrnent for the downpayment under provisional receipt

i
...,:. 1l;lir,rj i.j irlay 20'i6 for a total of P 67,200.00 :

-ihe
b. VElr;ri:l- sirall pay the bal,r;rce ii-r the amount of Two hundred six8 eiqht th )usand eiohl
l
l!!0req_pqi,rq (F?i,8 800.00) within dayslnronths/years, with interest at twelve perr';nt(12 Yo)
;crniroi,ndeq nrorrihly. until fully paid, said payments to be made in equal monthly insl3llments o{
_ttq.h1,iltqu9=r]t{jtii,q |tirldred twenty eiqht !e
(F3928.01J such monthly irrstallments
.:ha{l ti. cav,:h'r lhe last Cay ol every morlth commencing on June 2016 . The VENDEE shall
!)ay , ,i , '
i,:. ld cireck:s, crrvering the remaining balance/monthly installments ioi" h,-
payrtre|i ;;triod rrrrrrrided herein, Any instailment due and unpaid shall bear a penalty rate of two
Perc.Jnt (29lc) Pr''1 5,-:'llh;

'1
-\

I ;i I
MGEN EIIGl,l'r',i,
 2.
Th,; vFr'jDEEshall payihe Real Estate laxes over the property upon the date
ofthe approval
'ii"' ,eai estar., a, ,,risition of the vENDEE. The vENDEE is likewise requireb to atways updite payment
rr Reai Estaie I axes.

3 Tlrc t/EliDOR reserves the right to cancel and/or r,.rcind this Contract should the VENDEE
, ,' ie. :Oil ',vhatsoever, defaults in the payment of three (3) ,;onsecutive monthly installmenls and/Or'
i , pay r:,e total amount of the purchase price within the prescribed period. ln case o1
r ''i:.ilation/rescission by the VENDOR or withdrawal hereof by the VENDEE, all payments shall be,
i' -, -iirr tivorof AFPMBAI;

4. ihe house/improvement, ii any, on the said land shall be insured against loss by fire, with Ai ,

i.,. rrr'al Insurance Corp. (AFPGen) until such period that the remaining balance is paid in full, for a,,
:r 'roirni equivalent to lhe value of the said house/improvements and the annual premium of which shall i,
paid by the VENDEE within thirty (30) days ftom acceplance of the housing unit from the VENDOR ar'
rlvery year thereafter. ln case of loss by flre, the VENDOR shall have the option either to repair ar
reconstruct the house and liquidate out of the insurance proceeds the unpaid balance of lhe purchase pri
of iho house and Iot and turn over to the VENDEE the remainder, if any, of the proceeds of insurance. ir .
'/ENDIE shall not do nor permit to be done, nor bring or keep inflammable materials or anything in tl
l,ren'iises which will adversely affect the insurance on the premises or any of the buildings sunounding 1'
same;

Upon the full payment by the VENDEE of the total purchase price of the land together with all l'
improvements, if any, above refened to, with all the interests due thereon, taxes, and other charges a' ,

L,pon l,is faithful compliance with all the conditions of this contract, the VENDOR shall execute in favor r"
il,e \/iiilDtE, cr his/their heirs, a Deed of Absolute Sale transfening and conveying the aforemention:'
i.,nr to,l,:iherwith its improvements, if any. TheVENDEE, orhis/theirheirs shall accept such Deed as friir
,,ijriorir,ance L:f the VENDOR of its covenant and undertaking hereunder; provided, that any and all
expenses for ti.e preparation and notarization of the Deed of Absolute Sale and such other documents as
may be necessary for the issuance of the certificate of title of the property in his/their name such as
ilocurrrentary stamps, transfer taxes, registration fees and other fees and charges shall be for the exclusive
account ot the VENDEF;

5. This Conlract contains the entire agreement between the parties herein respecting the
: "-ry, and any F'lreement or representation respecting either the duties of the VENDOR or VENDEE in
;i:, ', ihereio not expressly set forth in this Contract is null and void;
lJ The parties hereby mulually agree that in case of litigation arising from the Contract, the venue
i;li : c in Quezon City, Metro Manila.

lN \ivlTNESS WHEREOF, the parties have hereunto signed this Contract To Sell at
0n

/JRMED FORCES AND POLICE

fo!UTUAL BENEFIT ASSOCIATION, INC.
VENDOR

By:

MGEN RENE C SAMONTE AFP (RET)

(President and CEO)
TIN 000-848-47s
lD No.
I rl lssued at
On

i.e

Signed in the presence of:

/ rz'
eF.,--
 ACKNOWLEDGMENT
Republic of the Philippines )
) Sc

o BEFORE ME, a Notary Public for and in this

personally appeared the abovenamed persons with their respective iDs written below their names known to
me to be the same persons who executed this Contract to Sell and acknowledged to me that the same i.
their free and voluntary act and deed.
This foregoing instrument relates to a Contract to Sell of MS AIME A GADAINGAN. NM located ai
MUTUAL EXECUTIVE HEIGHTS consisting of four (4) pages including this where the Acknowledgment i:
E
written and signed by the pa(ies and their inslrumental witnesses on every page hereof,

Witness my hand and seal

4l 4.,-
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Doc. No.
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 Republic of the Philippines
Province of Zamboanga Del Sur
City of Pagadian

BARANGAYAULATOT

Office of the Punong Barangay

BRRRNGRY OON'TNUGTIoN OICRNRNOC

TO WHOM IT MAY CONCERN:

THIS lS TO CERTIFY that ALi:n q . (iilrtcii1,,,/cllI: } . iirr60ilI0 , hereby

permitted to construct, namely;

( )Commercial Building
( ) lndustrial Building
r)
( Residential Building
( ) Perimeter Fence

At Zone J U.ihltala.n Bulatok, Pagadian City.

lssued this
ltr day of
Fcbru-.rJr
20 tt at Barangay
Bulatok Office, Bulatok Pagadian City.