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DEED OF CONDITIONAL SALE

KNOW ALL MEN BY THESE PRESENTS: This Contract is made, executed, and entered into by:

MARIA CONSUELO S. BALES, of legal age, single, Filipino, and resident of Iloilo City, hereinafter referred to as the VENDOR.

-ANDLEILANIE A. DEFENSOR, of legal age, married to DOMINGO DEFENSOR both Filipino and with residence and postal address at 709 Captain A. Tirador St., Janiuay, Iloilo, hereinafter referred to as the VENDEE.

WITNESSETH: That the VENDOR is the owner of a parcel of land situated at Brgy. Guadalupe, Janiuay, Iloilo, known as lot NO. 4823-F-4, Psd-06-048950, covered by TCT NO. CLOA-T-14258, containing an area of FOUR THOUSAND EIGHT HUNDRED FORTY SEVEN square meters (4,847 sq.m.) more or less, and more particularly described as follows:

DESCRIPTION OF THE LAND A PARCEL OF LAND (Lot 4823-F-4, Psd-06-048950, being a portion of Lot 4823-F, Psd-06017899 (OLT), situated in the Barangay Guadalupe, Municipality of Janiuay, Province of Iloilo, Island of Panay. Bounded on the SE, along line 1-2 by Lot 4823-G, Psd-06-017899 (OLT) on the SE., and SW., along lines 2 to 5 by Lot 4823T; on point 5 by Lot 4823J, both of Psd-06-017899 (OLT); on the NW., along line 5-6 by Lot 4823-F-3 of this subd. plans on the NE., along line 6-1 by the Provincial Road. Beginning at the point marked 1 on plan, being S. 38-47E., 1474.44 m. from BLLM Mo. 3, Janiuay Cad 266, beginning, containing an area of FOUR THOUSAND EIGHT HUNDRED FORTY SEVEN (4,847) SQUARE METERS, more or less.

WHEREAS, the VENDEE has offered to buy and the VENDOR has agreed to sell the above mentioned property for the amount of THREE HUNDRED THOUSAND PESOS (P300,000.00) Philippine Currency, to be paid in the manner herein below specified.

NOW THEREFORE, for and in consideration of the sum of Philippine Currency, THREE HUNDRED THOUSAND PESOS (P 300,000.00) , the VENDOR DO HEREBY SELL, TRANSFER, and CONVEY by way of Conditional Sale unto the said VENDEE, his heirs and assigns, an undivided portion of the above-described property consisting of ONE THOUSAND SQUARE METERS (1,000 sq.m.) together with all the improvements found thereon, free from all liens and encumbrances of whatever nature including real estate taxes as of the date of this sale, under the following conditions to wit:

1. That the amount of ONE HUNDRED TWENTY SEVEN THOUSAND PESOS (127,000.00) has already been paid to the VENDOR and the remaining ONE HUNDRED SEVENTY THREE THOUSAND PESOS (173,000.00) will be paid under the following conditions to wit: a. The amount of TEN THOUSAND PESOS (10,000.00) Philippine currency shall be paid by the VENDEE upon the signing and execution of this contract; b. The amount of SIXTY THREE THOUSAND PESOS (63,000.00) shall be paid in installment from June 2011 until November 2013; c. The amount of ONE HUNDRED THOUSAND PESOS (100,000.00) shall be paid upon the transfer of the certificate of title under the name of the VENDEE.

2. That the VENDOR will execute and deliver to the VENDEE a definite or absolute deed of sale upon the full payment by the VENDEE of the unpaid balance of the purchase price as stipulated; 3. That the VENDOR do hereby convey and deliver in favor of the VENDEE the material and physical possession of the above described property; 4. The VENDOR hereby warrants his title and ownership over the above-described parcel of land and shall defend the same against the claim of any third party. In the event of conflict, the VENDOR shall defend the VENDEE and shall shoulder all the expenses

that may be incurred in connection with said conflict or litigation that may arise by reason thereof.

IN WITNESS WHEREOF, the parties hereunto set their hands at Iloilo City Philippines, this 26th day of May, 2011, in the City of Iloilo.

MARIA CONSUELO S. BALES VENDOR CTC NO. Issued on

LEILANIE ALLADO DEFENSOR VENDEE CTC NO. Issued on

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES) CITY OF ILOILO ) SS. X-------------------------------------------X

BEFORE ME, a Notary Public for and in the City of Iloilo , parties personally appeared known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same are their free act and voluntary deed. This instrument, consisting of (__) 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 concerned parties and their witnesses, and sealed with my notarial seal. WITNESS MY HAND AND SEAL on this ___day of __________________20__ at_______________.

Notary Public Doc. No. ........; Page No. .......; Book No. .......; Series of 20__.