Deed of Sale of Shares between foreign corporation and individualFull description
sale deed format shortFull description
DEED OF CONDITIONAL SALE This deed made and executed by: GM BANK OF LUZON INC. (consolidated GM Bank, Inc. & Bangko Luzon, Inc., a !u!al banking co!"o!ation o!ganized and existing unde! the la#s o$ the %e"ublic o$ the hili hili"" ""in ines es,, #ith #ith "!in "!inci ci"al "al o$$i o$$ice ce at B!gy B!gy.. 'ima 'imasa sala lang ng,, Maha Maha!l !lik ikaa igh igh#ay #ay,, )abanatuan )ity, *ue+a ci-a, !e"!esented in this act by RAMON D. DE OCAMPO, xecuti+e ice ice !esident $o! B!anches and Ma!keting he!ein called the /VENDOR 0 -In favor of-
SPS. JULIUS A. RIVERA AND AVA LYN I. RIVERA 1ili"ino, o$ legal ,
age, and a !eside !esidence nce o$ B!gy B!gy. 2ini"i 2ini"it, t, Bongabo Bongabon, n, *ue+a *ue+a ci-a, ci-a, he!ein he!ein called called the /VENDEE0 WITNESSETH Ta!WHEREAS, the +endo! is the !egiste!ed o#ne! o$ one (3 "a!cel o$ land co+e!ed by T)T *o. *T4 *T4563768 #ith an a!ea a!ea o$ T9 T9 ;*'%' ;*'%' 1%T< 1%T< (5=> 2?;@% 2?;@% MT%2 MT%2,, mo!e mo!e o! less, less, situa situated ted in B!gy B!gy.. oblaci oblacion, on, Munici Munici"al "ality ity o$ Bongabo Bongabon, n, !o+ince o$ *ue+a ci-a by the %egiste! o$ 'eeds !o+ince o$ *ue+a ci-a, he!ein called the /%%T<0 /%%T<0 mo!e "a!ticula!ly desc!ibed as $ollo#s: TRANSFER CERTIFICATE OF TITLE NO. NT-"#$%#& @ @%)L @%)L 1 L@*' (LT 55, BL)A 35, 1 T 2;B'. L@* ( L%) 2'4>C>8, BI*G @ %TI* 1 LT 3 & , '2)%IB' * L@* 2;4 2;43 378>6 78>65 5, L%) %). ). *. *45> 45>C8 C8, , 2IT; 2IT;@ @T' I* T BL@)I*, M;*. 1 B*G@B*, %I*) 1 *;@ )ID@. B;*'' * T *., I*T2 3 T 5 B< LT 5=, BLA. 35, * T 2., I*T2 5 T B< %@' LT 33E * T 29., I*T2 T = B< LT 5>E @*' * T *9., I*T2 = T 3 B< LT 5, BLA.35, @LL 1 T 2;B'. L@*. BGI**I*G @T @ I*T M@%A' /30 FFFFFF FFFFFFFFF FFFFFF FFF )*T@ )*T@I*I I*I*G *G @* @%@ @%@ 1 TWO HUNDRED HUNDRED FORT' (")*+ S,UARE METERS E M% % L22 I*)L;'I*G @LL T IM%M*T2 %)T' T%I*.
9%@2, the endee has o$$e!ed to "u!chase the !o"e!ty on an AS IS WHERE IS/ basis and the endo! ha+e acce"ted the o$$e!, o$$e!, sub-ect to the $ollo#ing te!ms and conditions he!ein a$te! set $o! in: *9, T%1% $o! in conside!ation o$ the $o!egoing "!emises, the endo! and the *' he!eby ag!ee and bind themsel+es as $ollo#s: 3.
2ub-ect to the endees com"liance #ith the te!ms and conditions he!ein set $o!th, the endo! he!eby ag!ees to sell, t!ans$e! and con+eys unto and in $a+o! o$ the endeeHs, endeeHs, his assigns and successo!s4in4inte!est, successo!s4in4inte!est, all o$ the endo!s endo!s !ights, title and inte!est o+e! and !es"ect to the !o"e!ty.
The The )ons )onsid ide! e!at atio ion n o$ the the sale sale is he!e he!eby by $ixed $ixed at the the !in !inci ci"a "all amou amount nt o$ PHILIPPINE PHILIPPINE PESOS0 ONE HUNDRE HUNDRED D SEVENT SEVENT' ' FIVE FIVE THOUSA THOUSAND ND "ayablee in acco!d acco!dance ance #ith #ith the $ollo# $ollo#ing ing PESOS (PHP$1%***. (PHP$1%***.**+ **+ ONL' ONL' "ayabl schedule o$ "ayment: a. 22: SI2T' THOUSAND PESOS (PHP3****.**+ do#n "ayment.
b. 22: ONE HUNDRED FIFTEEN THOUSAND PESOS (P$$%***.**+ !e"!esenting balance o$ the conside!ation o$ sale, "ayable #ithin th!ee ( yea! monthly basis at 35J ".a. diminishing balance as sho#n on indi+idual "ayment schedule belo#:
Time is decla!ed to be the essence o$ this )onditional 2ale and in the e+ent that the endeeHs should $ail to "ay the amount due on the dates s"eci$ied in section 5 (b he!eo$, any amount "aid by the +endeeHs to the +endo! shall be deemed $o!$eited. In such e+ent the endo! is he!eby autho!ized to sell the "!o"e!ty to othe! inte!ested "a!ties. This 'eed o$ )onditional 2ale 2hall be conside!ed as automatically !escinded #ithout the need o$ any -udicial "!onouncement in so $a! as the e!!ing +endeeHs isHa!e conce!ned and a$te! ten (3> days notice to the e!!ing +endeeHs.
The endo! is selling only #hate+e! !ights, title, inte!est and "a!tici"ation it has acKui!ed o+e! the "!o"e!ty by the endee !e"!esents and ackno#ledges that he has $ull kno#ledge o$ the natu!e and extent o$ the endees !ights, title, inte!est and "a!tici"ation in the !o"e!ty.
The endee he!eby #ai+es his !ight to be "laced in actual "ossession o$ the "!o"e!ty and ag!ees that u"on execution he!eo$, he is deemed to ha+e been const!ucti+ely "laced in "ossession the!eo$, the endee $u!the! ag!ees to unde!take, at his o#n ex"ense, to e-ect the occu"ants o$ the !o"e!ty.
The +endee $u!the! #ai+es his !ight to #a!!anty against e+iction and shall be liable $o! any and all liens and encumb!ance no# a$$ecting o! may he!ea$te! a$$ect the !o"e!ty.
The endee shall like#ise assume taxes !elated to t!ans$e! o$ o#ne!shi" ('ocumenta!y 2tam" Tax, state Tax, T!ans$e! Tax etc., assessments o! othe! cha!ges and liabilities on the !o"e!ty that may no# be due o! #hich may no# be due o! #hich he!ea$te! be im"osed by the %e"ublic o$ the hili""ines, and by any o$ its agencies and inst!umentalities. The endee shall like#ise de$!ay all ex"enses necessa!y $o!
o! incidental to the con+eyance o! t!ans$e! o$ the !o"e!ty to the endee, including, but not limited to, documenta!y stam"s, nota!ial $ees, "!esentation and !egist!ation $ees and othe! ex"enses $o! execution he!eo$. a. The endee shall u"on demand, "!esent to the endo! the !ecei"tHs e+idencing "ayment o$ such taxes, im"osts assessments andHo! othe! cha!ges and liabilities le+ied u"on the !o"e!ty o! any othe! ex"enses in !elation the!eto. 2hould the +endee $ail to "!esent said !ecei"tHs o! i$ notice o$ delinKuency $o! non4"ayment H de$ault the!eo$ is di!ected to the endo!, o! in any othe! case #he!e the endo! is !easonably ce!tain that the same !emain un"aid, and then the endo! may, #ithout any obligation to do so, "ay the amount due including su!cha!ges and "enalties, and othe! #ith the inte!est !ate o$ thi!ty six "e!cent (J "e! annum.
2hould the endee $ail to "ay any o$ the amo!tizationHs #hen due o! to !eimbu!se to the +endo! any ad+ances made by the latte! as autho!ized he!ein, o! to com"ly #ith any o$ the te!ms and conditions the!eo$, then the +endo! may, as its o"tion conside! the #hole obligation due and demandable and cancel and Ho! !escind the '' 1 )*'ITI*@L 2@L by #!itten notice to the endee. In such a case, all im"!o+ements made andH o! e!ected by the +endee on the !o"e!ty sub-ect o$ this 'eed shall automatically become "!o"e!ty o$ the +endo! "u!suant the!eto and shall be conside!ed also as !entals $o! the occu"ancy andHo! use o$ the !o"e!ty as liKuidated damages. Mo!eo+e!, the +endo! may immediately take actual "ossession o$ the "!o"e!ty. o#e+e!, the endo! may choose to execute the $ollo#ing o"tions, to #it: a. That in case o$ de$ault o$ "ayment by the endee, the endo! #ithout need o$ any o! "!io! consent $!om the $o!me!, may choose to demand $o! the "ayment o$ the total amount due #ith "enalty cha!ges eKui+alent to Thi!ty42ix (J "e!cent "e! annum. % b. The endo! may choose to a""ly the st!ict "!o+isions s"eci$ied unde! "a!ag!a"h no. o$ this 'eed o$ )onditional 2ale.
3>. 2hould the!e be im"!o+ements #ithin the "!o"e!ty and the endee !emo+es o!
demolish such im"!o+ements and the endee $ails to $ully "ay hisHhe! obligation "u!suant to this ag!eement com"elling the endo! to !escind the sale, the endee shall !esto!e the im"!o+ements o! "ay its !easonable +alue #hich is he!eby mutually ag!eed at the minimum amount o$ h"37>, >>>.>> % o+e! the minimum amount as ag!eed u"on based on the assessment o$ an inde"endent assesso! as the case may be. 33. 2hould the endee lease o! allo#s thi!d "a!ty to occu"y the !o"e!ty, the endee shall
!esto!e $ull "ossession o$ the "!o"e!ty to the endo! $!ee o$ any occu"ants in the e+ent o$ !escission. 35. In the e+ent o$ $ailu!e o$ the endee to com"ly #ith the "!o+isions o$ the "!eceding
"a!ag!a"hs thus com"elling the endo! to unde!take the necessa!y legal action, the
endee shall ans#e! $o! atto!neys $ees and all ex"enses o$ litigation "lus damages #hich the endo! may su$$e!. 1o! "u!"oses o$ this "!o+ision, damages shall be const!ued and com"uted at 7J "e! month o$ the #hole conside!ation stated in this cont!act.
I* 9IT*22 9%1, #e ha+e he!eunto a$$ixed ou! signatu!es this day , at , *ue+a ci-a.
AVA LYN I. RIVERA Vendee
4ULIUS A. RIVERA
GM BANK OF LUZON INC. ()onsolidated GM Bank, Inc. & Bangko Luzon, Inc. V5n6or
By: RAMON D. DE OCAMPO In is ca"acity as $o! B!anches and Ma!keting
SIGNED IN THE PRESENCE OF
%;BLI) 1 T IL2 Munici"ality o$ !o+ince o$ *ue+a ci-a B1% M, @ *ota!y ublic, $o! and in the abo+e stated locality, on this day o$ , "e!sonally a""ea!ed: *@M %@M* '. ' )@M D;LI;2 %I%@
Ano#n to me to be the same "e!sons #ho executed the $o!egoing inst!ument and ackno#ledged to that the same is thei! $!ee and +olunta!y act and deed and that o$ the co!"o!ationHs they !e"!esent. This inst!ument !e$e!s to 'eed o$ )onditional 2ale consisting o$ $ou! (= "ages, including this "age and signed by the "a!ties and thei! inst!umental #itness on all "ages. I* 9IT*22 9%1, I ha+e he!eunto set my hand and seal on the date and at the "lace $i!st abo+e #!itten. *T@%< ;BLI) 'oc. *o. E age *o. E Book *o. E 2e!ies o$ E