Deed Of Conditional Sale-sample 5x385w

DEED OF CONDITIONAL SALE KNOW ALL MEN BY THESE PRESENTS: This DEED OF CONDITIONAL SALE, made and executed on this _______ day of _____________________ 2010 in ___________________________, by — _____________________________, Filipino, of legal age, married and with residence address at ________________________, hereinafter referred to as the VENDOR; - in favor of _________________________, Filipino, of legal age, married, and with postal address at ___________________________________, hereinafter referred to as the VENDEE. WITNESSETH, That:— WHEREAS, the VENDOR is the ed owner of a certain parcel of land situated in Brgy. South Triangle, Diliman District, Quezon City, and covered by Transfer Certificate of Title (“TCT”) No. N-293724 of the Registry of Deeds for Quezon City, free from any liens and encumbrances and more specifically described as follows: “A parcel of land (lot 11-B of the subd. plan Psu-13-005923, being a portion of lot 11, Blk. S-8 Bsd-7365-B, LRO Rec. No. 7681), situated in Brgy. South Triangle, Diliman Dist., Quezon City, Metro Manila. Bounded on the NE., along line 1-2 by lot 4; on the SE., along line 2-3 by lot 12, both of Blk. S-8 Bsd-7365-B; on the SW., along line 3-4 by Scout Borromeo Street (20 m. wide) South 4 th Street; and on the NW., along line 4-1 by lot 11-A of the subd. plan x x x; containing an area of NINE HUNDRED NINETY THREE SQUARE METERS AND NINETY SQUARE DECIMETERS (993.90). x x x.” WHEREAS, the VENDOR has agreed to SELL, CEDE, TRANSFER and CONVEY the above-described property to the VENDEE for valuable consideration as hereunder stated, and the VENDEE has agreed to BUY and ACQUIRE the same for the stated consideration. NOW, THEREFORE, for and in consideration of the foregoing premises and of the and conditions hereinafter set forth, PARTIES have agreed as follows: 1. The total contract price for the above-described parcel of land is TWENTY MILLION PESOS (P20,000,000.00).

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2. The total contract price of TWENTY MILLION PESOS (P20,000,000.00) shall be paid according to the following schedule: 2.1 ONE MILLION PESOS (P1,000,000.00), which VENDOR hereby acknowledges to have received from the VENDEE, and which amount shall be applied as partial payment of the total contract price. 2.2 The balance of NINETEEN MILLION PESOS (P19,000,000.00) shall be paid upon release of VENDEE’s loan at ___________________ Bank, which shall not be more than _________________ (___) days from the g of this Deed. 3. VENDOR understands that VENDEE shall offer the herein subject property to ____________________ Bank as collateral for a loan that it is applying for. VENDOR undertakes to extend its full cooperation in executing and submitting all necessary documents as may be required by the Bank for purposes of processing the VENDEE’s loan application. Such cooperation includes, but is not limited to the execution of the Deed of Absolute Sale and the transfer of registration of title in the name of VENDEE after VENDOR’S receipt of Notice from the Bank that the loan has been approved and the Letter of Guarantee will be issued in favour of VENDOR. 4. It is understood that Capital Gain Tax shall be for the of the VENDOR. Documentary Stamps Tax, Transfer Tax, and Registration Fees and other miscellaneous fees or expenses for the transfer of the title in the name of the VENDEE shall be for the exclusive of the VENDEE. IN WITNESS WHEREOF, the PARTIES hereto have set their hands on the date and at the place first above written.

________________________ Vendor

__________________________ Vendee

SIGNED IN THE PRESENCE OF: 1. _________________________

2. __________________________

ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES) ______________________________) S.S. BEFORE ME, a Notary Public for and in ___________________________, on this _____ day of ___________________ 2010, personally appeared the following persons with their respective government-issued Identification Cards, bearing their photographs and signatures, to wit:

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Name

I.D. Nos.

Place/Date of Issue

known to me to be the same persons who executed the foregoing DEED OF CONDITIONAL SALE, consisting of three (3) pages, including this page whereon the Acknowledgment is written and signed by all the parties and their two (2) instrumental witnesses on each and every page thereof. WITNESS MY HAND AND NOTARIAL SEAL on the date and at the place first hereinabove written.

Doc. No. _____; Page No. _____; Book No. _____; Series of 2014.