DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS: This Deed of Conditional Sale is entered into by and between the following parties: ACEVEDO DEVELOPMENT CORPORATION herein represented by their Corporate Secretary and Director DAPHNE V. ACEVEDO, widow, of legal age, Filipino, amd a resident of 3524 Mag. Torres st., Bacood, Sta Mesa, Manila, Philippines, hereinafter referred to as the VENDOR; - and SPOUSES HERMAN D. CARPIO JR. and LUCY N. CARPIO, both of legal age, Filipinos, residents of Roxas Avenue Extension, Kalibo, Aklan, Philippines, hereinafter referred to as the VENDEES ;

W I T N E S S E T H:
WHEREAS, VENDOR is the absolute and registered owner of a parcel of land known as Lot No. 4-A-2-C, Psd-06-070567, of the cadastral survey of Kalibo, situated in Barangay New Buswang, Kalibo, Aklan, and covered by Transfer Certificate of Title No. T-41703 of the Register of Deeds for the Province of Aklan, and which parcel of land is more particularly described and bounded as follows: TRANSFER CERTIFICATE OF TITLE NO. T-41703
A parcel of Land (Lot 4-A-2-C, Psd-06-070567, being a portion of Lot 4-A-2, Psd-06-069201, situated in the Barangay of New Buswang, Municipality of Kalibo, Province of Aklan. Bounded on the SE., along line 1-2 by Lot 4-A-2-D; on the SW., along line 2-3 by Lot 3346, Psc-24; on the NW., along line 3-4 by Lot 4-A-1, Psd-06-069201; and on the NE., along line 4-1 by Lot 4-A-2-J. x x x containing an area of THREE HUNDRED (300) square Meters, more or less.

WHEREAS, VENDOR has offered to sell the above-described parcel of land to the VENDEES, and the VENDEES have agreed to buy the same in the amount of FOUR HUNDRED NINETY FIVE THOUSAND PESOS (P495, 000. 00), Philippine Currency; WHEREAS, the VENDEES shall pay the amount of NINETY FIVE THOUSAND PESOS (P95, 000.00), Philippine Currency, upon the execution of this document; WHEREAS, the VENDEES shall pay the balance in the amount of FOUR HUNDRED THOUSAND PESOS (P400, 000.00), Philippine Currency, within two (2) years from the execution of this document; WHEREAS the VENDOR hereby bounds herself to execute a Deed of Absolute Sale in favor of the VENDEES upon the fulfillment of the VENDEES obligation to the VENDOR;

WHEREAS it is hereby mutually agreed that the VENDOR shall bear the payment for capital gains tax and notarial fees and VENDEES shall bear all other expenses leading to the transfer of the above described property to their name. IN WITNESS WHEREOF, parties have hereunto set their hands and affixed their signatures this _________________ at Kalibo, Aklan, Philippines.

ACEVEDO DEVELOPMENT CORPORATION Vendor By: DAPHNE V. ACEVEDO

CTC No. ______________ Issued on: _____________ Issued at:_______________

HERMAN D. CARPIO JR. Vendee SRC ID No. IL2350101 Issued on______________ on_______________ Issued at ______________ _______________

LUCY N. CARPIO Vendee ___ID No. 5876203 Issued Issued at

Signed in the presence of: ___________________________ & _________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES) PROVINCE OF AKLAN ) MUNICIPALITY OF KALIBO ) S.S. x--------------------------------------x BEFORE ME, this ______________ in the Municipality of Kalibo, Province of Aklan, Philippines, personally appeared the abovementioned parties, exhibiting to me their Competent Proof of Identity indicated below their names set forth above, known to me 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 consisting of three (3) pages including the page on which this acknowledgment is written refers to a Deed of Conditional Sale and has been signed on each and every page hereof by the parties and their instrumental witnesses, and sealed with my notarial seal. IN WITNESS WHEREOF, I have hereunto set my hand, the day, the year and place above written. Notary Public Doc. No.____; Page No.____; Book No.____; Series of 2011.