DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL (DCS), made and executed on this _____

day of _____________ 2019, at ____________ City, Philippines, by and
between:

STEPHEN BRIAN T. LIM, of legal age, Filipino citizen and resident

of Unit 07W, Gateway Garden Ridge, 282 EDSA, Mandaluyong City,
hereinafter referred to as the “SELLER”;

- and -

CECILIA YNEZ RAMOS ARANETA, of legal age, Filipino citizen and

resident of 6 Molave Street, Marikina City, Philippines, hereinafter referred
to as the “BUYER”;

W I T N E S S E T H:

WHEREAS, the SELLER is the absolute and registered owner in fee

simple, of a condominium unit, hereinafter collectively referred to as the
“PROPERTY”, more particularly described below:

CONDOMINIUM CERTIFICATE OF TITLE NO. 008-2018014412

Registry of Deeds for Mandaluyong City, Metro Manila, Philippines

Condominium Unit No.: 07W

Usage: Residential
Unit in square meters: Sixty-six & 74/100 (66.74) more or less
Project Name: Gateway Garden Ridge
Location: 282 EDSA , Mandaluyong City

established in accordance with Republic Act No. 4726 by virtue of a

“MASTER DEED WITH DECLARATION OF RESTRICTIONS”;

WHEREAS, the SELLER is willing to sell, assign, transfer and convey

unto the BUYER, the aforedescribed PROPERTY, and the BUYER is willing
to purchase and acquire the same from the SELLER with all the structures
and improvements constructed thereon, including the existing furniture,
fixtures and appliances as follows:

NOW THEREFORE, for and in consideration of the foregoing

premises and of all the covenants stated hereinafter, the PARTIES have
agreed as follows:

1. That for and in consideration of the sum of: Five Million, Four
Hundred only (PhP5,000,400.00) Philippine Currency, (hereinafter
referred to as the PURCHASE PRICE), the SELLER agrees to sell and the
BUYER agrees to buy the aforedescribed PROPERTY, which will be in effect
and binding once a Deed of Absolute Sale (DAS) has been executed by both
parties.

2. A downpayment of Php996,000.00 will be paid to the SELLER,

accompanied by a Letter of Guarantee (LOG) worth Php4,004,400.00
which will be paid through loan proceeds from Bank of the Philippine
Islands (BPI).

3. Both parties mutually agree that only capital gains tax (CGT) and
commissions shall be for the account of the SELLER, while all other
expenses relating to the transfer of title to the BUYER’s name shall be for
the account of the BUYER.

4. The SELLER warrants the processing and payment of the applicable

CGT, DST, etc. with the BIR within the prescribed filing period upon
execution of the DEED OF ABSOLUTE SALE (DOAS) by both parties. The
SELLER shall furnish the BUYER copies of the official receipt evidencing
complete payment of the CGT, Tax Clearance Certificate and the Certificate
Authorizing Registration (CAR).

5. The SELLER warrants payment of all outstanding property tax

arrears that have accrued up to the end of the 2018 and corresponding
Tax Clearance Certificate shall be obtained and submitted herewith by the
SELLER.

6. That any remaining balance in utility expenses (water, electricity,

telephone, gas, cable, etc.) consumed and incurred by the SELLER
covering the period prior to the date of DAS and assumption of possession
of the PROPERTY by the BUYER, shall be for the account the SELLER;

7. The SELLER warrants that the title herein conveyed is free from and
clear of any and all present and future liens and encumbrances, lis
pendens, adverse claims, options and rights of third parties, court actions
or suits, expropriation proceedings and other legal proceedings
whatsoever;

8. The SELLER warrants that they have just, valid and legal title to the
PROPERTY with full power and authority to effect transfer not only of the
ownership but also of the possession thereof;
9. Finally, from and after delivery of possession of the PROPERTY to
the BUYER, the BUYER shall be liable for all financial obligations,
assessments and taxes stipulated and referred to in the MASTER DEED
and Articles of Incorporation and By-laws.

IN WITNESS WHEREOF, the parties have hereunto set their hands on the
day and the place first above written.

CECILIA YNEZ RAMOS

STEPHEN BRIAN T. LIM ARANETA
T.I.N. No. ______________________ T.I.N. No.
(SELLER) (BUYER)

SIGNED IN THE PRESENCE OF:

Jeffrey R. Gasalao
T.I.N. No. ______________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

________________ City ) S.S.

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

on this ____ day of ___________, 2019, personally appeared the following:

COMM.TAX CERT. NO. /

NAME I.D. NO. DATE & PLACE

STEPHEN BRIAN T. LIM

CECILIA YNEZ RAMOS
ARANETA

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 is their
free and voluntary act and deed.

This instrument refers to a Contract to Sell covering a one (1) unit

residential condominium and consists of ________ (____) pages including
this page where the Acknowledgment portion is written, signed on each
and every page by the herein SELLER and BUYER and their instrumental
witnesses.

WITNESS MY HAND AND MY SEAL, on this ____ day of ____________, 2019

in the City of _______________, Philippines.

NOTARY PUBLIC

Doc. No. ____

Page No. ____
Book No.____
Series of 2019.