CONDITIONAL DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This CONDITIONAL DEED OF SALE WITH ASSUMPTION OF MORTGAGE made executed by and between,
RAYMUNDO RAMON TESALUNA TEOFILO, of legal age, with home address at 241 B ARANAS ST CEBU CITY
hereinafter referred to as VENDOR Owner,
and

________________________, of legal age with residence and postal address at __________________________

_________________________hereinafter referred to as VENDEE.

WITHNESSETH

That for and in consideration of the sum of (Php _______________) ______________________________

PESOS, Philippine Currency, the receipt whereof is hereby acknowledged and confessed in hand, paid to VENDOR
by the VENDEE to the formers entire satisfaction, by these presents, the VENDOR does hereby CONDITIONALLY
SELLS, TRANSFERS and CONVEYS, unto the VENDEE his/her heirs and assigns that certain motor vehicle more
particularly described as follows:

Make: SUZUKI
Engine No.: K14BS133385
Model: CIAZ GLX A/T
Chassis No.: MMSVC41S9HR102869
Type: SEDAN
Color: PEARL WHITE
MV File No.: 0701-00000481864
Conduction: UF3154

Of which motor vehicle, the VENDOR is the true and lawful owner EXCEPT THE MORTGAGE with PSBank
with loan account number 001 972 037 462 476 and the VENDEE shall continue paying the mortgage of
(Php18,567.00) EIGHTEEN THOUSAND FIVE HUNDRED SIXTY SEVEN PESOS without demand every 10TH of the
Month starting ______________, 2018 TO JULY 10, 2022.

That FAILURE OF THE VENDEE TO PAY in Two (2) CONSECUTIVE MONTHS shall give the VENDOR the right to
immediately take re possession of the motor vehicle without court intervention, consider this CONDITIONAL
DEED OF Sale terminated by default.

Vendee agrees to pay 10% interest (P1,856.70) of the total monthly amount due for delayed payment or
returned checks and P200.00 daily penalty until the due balance is paid. If a CHECK has returned due to a CLOSED
ACCOUNT even on its 1st month or a month due, the VENDOR will have to pull out the VEHICLE without any court
litigation or intervention. Said Vehicle will remain under the custody of the VENDOR until such checks have been
replaced with well-funded Checks within 15 calendar days and accrued monthly balance be paid in full. After
which this agreement is deemed VOIDED and all payments made by VENDEE is deemed forfeited in favor of the
VENDOR. In such case VENDEE hereby agrees by default that no case can be filed against the VENDOR.

A yearly Comprehensive insurance is to be paid by the VENDEE every 5th of MAY of the following year. The
amount is given a month prior to its due date which is being given and mandated by the Bank. Failure to renew
the yearly comprehensive insurance will terminate this CONDITIONAL DEED OF Sale terminated by default.

That only after FULL PAYMENT of the total amortization from the Bank that this agreement becomes
ABSOLUTE and the Motor Vehicle’s registration and full ownership will be fully transferred to the VENDEE.

That the VENDEE expressly agree that any legal action from this transaction may be instituted by the
VENDOR in the courts of Cebu City and that an additional sum equivalent to 33-1/4% of the amount due, for and
as attorney’s fees and expense of collection to the costs of suit shall be payable by the VENDEE.
 In the event that the Parties cannot amicably resolve a dispute or damage claim resulting from this
Agreement, the Parties agree to resolve any such dispute or damage claim by arbitration. The arbitration
proceeding shall be conducted in Cebu City, Philippines, in accordance with the rules of the Republic of the
Philippines.

IN WITNESS WHERE OF, we have hereunto set our hand this _______________________.

RAYMUNDO RAMON TESALUNA TEOFILO

VENDOR

___________________________
VENDEE

Signed in presence of: _____________________ ________________________

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF CEBU S.S

City/ Municipality of Cebu)

Before me, A Notary Public for and in the City/Municipality of Cebu appeared RAYMUNDO RAMON
TESALUNA TEOFILO and __________________________________ made known to me to be the same person
who executed the foregoing deed of sale of motor vehicle with assumption of mortgage and they acknowledge
before me that the same is their free and voluntary act and deed.

Parties and witnesses signed hereof.

Witness my hand and seal this day ________________________ at Cebu City.

Doc. No.: _________.

Page No.:_________.
Book No.:_________.
Series of 2018.