FORM NO.

019

EXCLUSIVE OPTION TO PURCHASE

KNOW ALL MEN BY THESE PRESENTS:

That _________________________________, of legal age, single/married to
_______________________________, and resident of
___________________________
hereinafter called the GRANTOR, for good and valuable consideration the receipt
whereof is hereby acknowledged from __________________________________,
likewise of legal age, single/married to ______________________________________,
Filipino citizen, and residing at _________________________, hereinafter called the
GRANTEE, hereby grants unto said GRANTEE the EXCLUSIVE OPTION to buy such
real property covered by Original/Transfer Certificate of Title No.________ and more
particularly identified as follows:

(State location and description of property)

That the purchase price of the aforementioned property is hereby fixed
at_______________________________ PESOS (P _______), Philippine currency,
payable within the period of this option, which shall expire on _____________, 20____,
at ______ noon (or midnight);
That the GRANTEE, upon deciding definitely to exercise his right under this option,
shall serve written notice to the GRANTOR at least five days in advance of the date to be
fixed for the execution of the Deed of Absolute Sale, with warranty of title, and such
other legal papers as may be necessary, and simultaneously for the delivery of the agreed
purchase price;
That it is further agreed that if the GRANTEE fails to exercise his right under this
option within the period stipulated above, or defaults to pay the agreed purchase price on
the date set for the execution of the necessary instruments, then this option shall he
deemed automatically cancelled, and the consideration paid therefore forfeited in favor of
the GRANTOR: Provided, however, that if the sale is consummated, the consideration for
this option received by the GRANTOR shall be applied as part of the agreed purchase
price; and;
That all incidental expenses including attorney’s fees and documentary stamps and
capital gains tax shall be for the account of the GRANTOR or seller, and the registration
fees and transfer tax for the transfer of title to the GRANTEE or buyer shall be for the
account of the latter.
IN WITNESS WHEREOF, the GRANTOR has hereunto set his/her hand
at________________________, Philippine, on this __________day of __________,
20____.
______________________________
GRANTOR
AGREED:
__________________________
GRANTEE
Signed in the presence of:
___________________________ _________________________

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(Notarial Acknowledgment)