Republic of the Philippines)

City of Cagayan de Oro) ss.

Contract To Sell
KNOW ALL MEN BY THESE PRESENTS:

This agreement, entered into by and between:

____________, of legal age, married and a resident of Virginia Homes,

Iponan, Cagayan de Oro City herein after known as the FIRST PARTY;

-and-

___________________, of legal age, married and a resident of Palmer’s Drive

1, Tibasak, Macasandig, Cagayan de Oro City hereinafter referred to as
the SECOND PARTY.

-witnesseth-

WHEREAS the FIRST PARTY has agreed to sell to the SECOND PARTY,
and the SECOND PARTY has agreed to buy from the FIRST PARTY, a parcel
of land situated in Macasandig, Cagayan de Oro City, of which the FIRST
PARTY is the absolute registered owner in accordance with the Land
Registration Act, as evidenced by Transfer Certificate of Title No. _______, which
is herein particularly described as follows:

A PARCEL OF LAND
(________________________________ being a portion of Lot
2971-G-2-B, Psd-10-007305) situated in the Barrio of
Macasandig. Bounded on the S., along line 1-2 by Lot
______ (LRC) Psd-130870; on the W., along line 2-3 by Lot
_____________; on the N., along line 3-4 by Lot
_____________; on the E., along line 4-1 by ________________,
all of the subdivision plan, Psd-10-010651. Beginning at a
point marked “1” on plan being S. 85 deg. 01’W., 397.39 m
from BLLM No. 43, Cad-237, Cagayan Cadastre;

thence N. 87 deg. 39’W., 14.00 m to point 2;

thence N. 00 deg. 02’E., 17.48 m to point 3;
thence S. 89 deg. 10’E., 14.00 m to point 4;
thence S. 00 deg. 06’W., 17.86 m to point of beginning;
containing an area of TWO HUNDRED-FORTY SEVEN (247)
SQUARE METERS, more or less.

NOW, THEREFORE, for and in consideration of the foregoing, the parties

hereunto agreed as they hereby agreed on the following:

1. The FIRST PARTY shall sell the abovementioned parcel of land to the
SECOND PARTY in the amount of TWO HUNDRED NINETY SIX
THOUSAND FOUR HUNDRED (P296,400.00) PESOS, Philippine currency;

2. The SECOND PARTY shall buy the said parcel of land through the
proceeds of the housing loan she applied for with PAG-IBIG, upon release of
which, the SECOND PARTY shall pay the FIRST PARTY in full;

3. The parties hereunto agrees that the payment of the Capital Gain Tax and
Documentary Stamps shall be for the account of the FIRST PARTY and the
Deed of Absolute Sale shall be on account of the SECOND PARTY;
Contract to Sell 2

4. This Contract shall be enforceable only for three months from the date of
execution;

5. This contract shall be obligatory upon the heirs, successors, administrators,

and assigns of the respective parties;

6. That any violation of the terms and conditions herein embodied shall be a
cause for the termination of the instant contract. Any litigation or court
action that may arise from this contract shall be within the exclusive
jurisdiction of the Courts of Cagayan de Oro City only;

IN WITNESS WHEREOF, the parties have hereunto set their hands this 22 nd
day of October 2001, at Cagayan de Oro City.

____________
FIRST PARTY
CTC No. _________
Issued on. 01/09/____
Issued at ___________________

____________________
SECOND PARTY
CTC No. __________
Issued on 09/05/__________
Issued at _________________________

Signed in the Presence of:

_____________________ and ____________________

Republic of the Philippines)

City of Cagayan de Oro) ss

Acknowledgment
Before Me, a Notary Public, this ____ day of ____________, in the City of Cagayan
de Oro, Philippines, personally appeared the abovenamed parties with Community Tax
Certificate bearing circumstances as appearing above. Known to me and to me known
to be the same persons who executed the foregoing instrument, and they acknowledged
to me that the same was made on their free and voluntary act and deed.

This instrument, consisting of two (2) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the parties and their witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I hereunto set my hand, the day, year and place
abovewritten.