AREA-

BLK. NO.

PRICFJSQM.

MONTHLY AMORT.

LOT NO.

TERM

CONTRACT NO.

CONTRACT PRICE

DOWN PAYMENT

BALANCE

sqrn.

CONTRACT -TO-SELL

KNOW ALL MEN BY THESE PRESENTS:

This Deed made and entered into this

Philippines by and between:

day of

.

at Davao City

.

MOUNTAIN HAVEN DEVELOPMENT, INC.. a corporation duly organized and existing under the laws of the

Philippines with office address at 2ndFloor Lam Building. F. Torres Street. Davao City. represented by its President

Martin Y. Pineda.. Filipino. of legal age. mamed and a resident of Parafiaque City. or its. hereinafter referred to as the

SELLER

.

-AND-

.

both of les!:a1 Qf!e, Filipino,

and with address at

, hereinafter referred to as the BUYER.

WI TNESSETH:

1.

CONSIDERATION

That

for

and

in

consideration

of

the

sum

of

(P

). Philippine Currency. which the

BUYER has bound himself to pay in the manner hereinafter specified and in further consideration of strict compliance by

the BUYER of the terms and conditions. restrictions and easements hereinafter enumerated and those specified in the Deed

of Restrictions attached hereto as Annex" A" and which Deed of Restrictions will be annotated on the corresponding

Transfer Certificate as a lien on the property, the SELLER has a contracted to sell to the BUYER a parcel of land. a part of

the MOUNTAIN

HAVEN, situated ,in Eden, Davao City, Philippines, covered by Transfer Certificate of Title No.

-

of the Register of Deeds of Davao City. which parcel of land is known as Block No. -,

Lot No.

_containing

an area of

(

square meters, more or less.

In case of increase or decrease in the actual area. the SELLERshall have the following options:

a)

cancel the Contract to Sell or repurchase the property by reimbursing the BUYER whatever was paid for

the purchase price, without interest.

adjust the purchase price correspondingly; or

provide an alternative parcel of land to the BUYER. subject to such terms and conditions as may be

agreed upon.

b)

c)

2.

MANNER OF PAYMENT:

The BUYER hereby agrees to pay the total contract price in the

following manner and under the following terms and conditions:

a.

The amount of

representing the down payment upon the execution of this contract.

)

b.

The balance of

paid in

(P

) to be

.<--)

equal. consecutive. successive monthly installments beginning

and every

day of the month thereafter at the amount of

-

(P

) each installment including the rate of

(0%)

percent per annum in interest on all outstanding or unpaid balance. The interest shall accrue from the

date said unpaid balance becomes due and demandable.

Page 1 of 6

c.

Membership Initiation Fee, in trust for Mountain Haven Homeowners Association, Inc. (MHHAI),

equivalent to P 50.00/sqm. multiplied by the area of the lot purchased in accordance with the resolution of

the association.

d.

Non.delivery of a copy of this Contract-ta-Sell to the BUYER shall not delay the commencement of

payment of monthly installments.

e.

Paymentsmadeby the BUYERshallbe appliedin the followingorderwithoutprejudiceto Paragraph6

hereof:

1.

2.

3.

To the surcharge and/or other penalties due and outstanding if there be any;

To the interest due and outstanding; and,

To the outstanding balance of the principal.

f.

The SELLER, in its sole and absolute discretion, may allow the BUYER to pay the outstanding unpaid

principal totally or partially, upon such terms and conditions as may be imposed by the SELLER,

provided that in case the SELLER allows payments in advance, such payments will not relieve the

BUYER from paying the agreed monthly installments, the only effect of such partial payment being

merely to shorten the term of the contract.

g.

In the event of extra-ordinary devaluation or inflation of the Philippine currency due to any reason

whatsoever, the basis of payment of the monthly installments as provided herein, shall be the value of the

Philippine Peso at the time of the execution of this agreement, as provided for under Articles 1250of the

New Civil Code.

h.

In case of war, the SELLER shall not be obliged to accept, and in case the SELLER shall have chosen not

to be so obliged, the unpaid balance of the purchase price and shall not earn interest during the war period

when the payment is suspended.

3.

POSSESSION: BUYER may, for alllegaI intent and purposes, occupy the said property upon payment

of at least FIFTY ( 50 % ) PERCENT of the total purchase price; provided, however, that the SELLER cannot be

compelled to change the tax declaration of the property until after the entire purchase price, the interest thereon, as well as

all the other obligations mentioned herein are fully paid by the BUYER.

a.

The BUYER hereby binds himself during the lifetime of this contract, not to alter, remove, displace or in

any way interfere with any monument or other evidence of boundary upon said premises, nor shall allow

others to commit any of the aforesaid acts.

b.

The BUYER likewise warrants to have personally inspected the parcells of land, verified its locationls

and boundaries, and is satisfied of the complete absence of occupants, squatters or any other physical

encumbrances.

4.

PLACE OF PAYMENT:

All down payments and installments shall be made by the BUYER to the

SELLER or its duly designated agents at the latter's office 2ndFIr. Lam Bldg., F. Torres St., Davao City, or such other

offices where the SELLER's principal place of business may in the future be transferred to, on or before the due date stated

in Section 2b WITHOUT THE NECESSITY OF DEMAND.

No collectors will be employed and ONLY OFFICIAL RECEIPTS SIGNED BY THE SELLER OR ITS

DULY AUTHORIZED REPRESENTATIVE WILL BE RECONIZED AS VALID AND BINDING. MOREOVER, FOR

THOSE WHO WOULD LIKE TO EFFECT PAYMENTS THROUGH SELLER'S BANKS, NO PAYMENTS WILL BE

HONORED AND ACKNOWLEDGED BY THE SELLER EXCEPT THOSE MADE UNDER ITS OFFICIAL RECEIPTS

OR THROUGH ANY OF THE BANKS WmCH MAY, IN THE FUTURE, BE AUTHORIZED AND EMPOWERED BY

THE SELLER TO ACCEPT PAYMENTS FOR AND IN BEHALF OF THE SELLER.

5.

REAL PROPERTY TAXES:

Real estate taxes and assessments shall be paid by the SELLER until

the contract price including the interest, if any, is fully paid and tide to the property transferred to the name of the BUYER

except when transfer of tide cannot be effected due to fault of the BUYER. In which case, the BUYER shall pay for the

realty taxes beginning at the time that the contract price is paid in full. However, should the BUYER take possession of,

and occupy the property in accordance with Paragraph 3 of this Contract, he shall be liable to the SELLER for such taxes

and assessments effective immediately upon such possession and occupancy; and the amount of the tax shall be paid by the

BUYER not later than five ( 5 ) days after receipt of such billing.

6.

EXPENSES FOR BUYER'S ACCOUNT: The BUYER agrees to pay in addition to the purchase price

and interest thereon, as well as the assessment for taxes mentioned in Section 5 hereof, the following:

Page 2 of 6

a.

The documentary stamps, transfer fee tax, science stamps, sales tax and execution fees of this contract as

well as those of the corresponding Deed of Absolute Sale, the registration fees of the latter and all other

expenses as agreed herein;

Light, power and water services connections;

The other fees, expenses and penalties hereinafter provided when the SELLER is entitled to the same;

and,

Expenses to effect the issuance of Transfer Certificate of Title in the name of the BUYER and other

relative expenses.

b.

c.

d.

7.

ADDmONAL FEES: The BUYER agrees to pay the following additional fees:

a.

b.

c.

P 1,000.00 for any true copy of a lost contract;

P 1,000.00 for amendment of the contract;

P 10,000.00 for any transfer of rights per lot plus all taxes that may be due thereon.

8.

DEFAULT IN PAYMENT:

Failure to pay any monthly installment on due date as provided in

Paragraph 2 shall be deemed a default on the part of the BUYER Upon default, the BUYER shall be given a grace period

of sixty (60) days from due date within which to pay the unpaid installment subject to penalty at the rate of five percent

(5%) per month (any fraction of a month shall be considered an entire month), computed from due date. After the lapse of

the 60-day grace period, this Contract shall be cancelled by the SELLER

In the event of cancellation, the SELLER shall be entitled to forfeit and retain all sums paid by the BUYER

subject to applicable laws, rules and regulations. Should the BUYER be in possession of the property, he shall become a

mere intruder and may be ejected therefrom after sixty (60 days) from date of default in payment. In the event of

cancellation and/ or ejectment, all improvements introduced on the property shall belong to the SELLER The SELLER

shall also be entitled to dispose of and sell the property together with all the improvements existing thereon to any other

person, subject to the provisions of Republic Act 6552 in so far as said law is applicable.

9.

BREACH OF OTHER TERMS AND CONDmONS:

The breach by the BUYER of the

conditions contained herein, including the non-payment of real property taxes provided in Section 5, shall have the same

.effect as non-payment of the installments of the purchase price. The SELLER shall be entitled to cancel this Contract and

to forfeit any and all sums paid by the BUYER In addition, all improvements introduced on the property shall belong to

the SELLER The cancellation of this Contract and the forfeiture of payments shall take effect upon the expiration of thirty

(30) days from receipt by the BUYER of the notice of cancellation from the SELLER; unless before the expiration of said

period, the cause for cancellation shall have been remedied by the BUYER

In any of the above cases, the BUYER recognizes the right of the SELLER or its representatives to enter the

property, to take possession of the same and take whatever action is necessary or advisable to protect its rights and interests

in the property. Nothing that may be done or made by the BUYER shall be considered as revoking or denying this

recognition.

10.

NON-WAIVER: The failure of the SELLER to require the BUYER to comply with any of the terms of

this agreement shall not be construed as a waiver of any subsequent failure of compliance by the BUYER with the same or

other terms of this contract. It is further understood and agreed that no delay or omission of the SELLER in exercising any

right herein, sha1Ibe construed as a waiver thereof, and no acceptance by the SELLER of any payments made in any

manner or at a time other than as herein provided sha1Ibe consttued as a variation of the terms hereof.

11.

COMPLIANCE WITH GOVERNMENT REGULATIONS: All buildings and other improvements

which may be constructed at any time in said lotls must be approved by the health, fire, police and other government

authorities concerned. The SELLER sha1l have the absolute right to demand and/or cause the demolition of an

improvement consttucted in the property without prior approval of said government authorities or in violation of the latter

and the SELLER'S rules and regulations at the expense of the BUYER.

12.

RIGHT OF SELLER TO ENTER PROPERTY FOR PUBLIC SERVICES:

The BUYER hereby

agrees that the SELLER or its duly authorized representative has the right to enter the property at any time for the purpose

of inspecting, measuring, relocating, surveying, repair and maintenance, laying of monuments, of necessmy lines of water,

power, telephone and other public services during the term of this contract. It is hereby understood that any inconvenience

or disturbance arising therefrom shall not be a ground for rescission of this agreement nor a cause of action for damages.

Page 3 of 6

13.

TRANSFER OF RIGHTS:

a.

The BUYER agrees not to sell, cede, lease, transfer, encumber or in any other manner dispose of his

rights and obligations Wider this Contract without the prior written consent of, and Wider such tenns

and/or conditions as may be required or imposedby the SELLER in writing.

b.

Any transfer made by the BUYER to third persons Widerthe foregoing provisions shall be subject to a

transfer fee of not exceeding to TEN THOUSAND PESOS ( PIO,ooO.OO) if the title to the property is

still in the name of the SELLER at the time of the said transfer.

c.

A BUYER in default as provided Widerthe tenns and conditions of this Agreement shall not be entitled

to avail of the transfer rights referred to in this Section.

14.

CONDEMNATION OR EXPROPRIATION PROCEEDINGS:

If at any time before the fun payment

of the purchase price, the Government or any of its instrumentalities or any public service company shall condemn or

expropriate the property, the SELLER shall have the FULL AND ABSOLUTE RIGHT to deal, negotiate, or resist the

expropriating or condemning authorities, or enter into a compromise with the latter.

Under this agreement, the BUYER shaDhave only the right to receive a proportionate part of the compensation

which is the amoWitalready paid or amortized bears the total purchase price.

15.

VALIDITY:

This contract shall be binding upon the heirs, executors, administrators and assigns of

both herein contracting parties. It is further agreed that the venue of any court action which may arise from this contract

may, at the option of the SELLERbe the proper courts ofthe City ofDavao.

Invalidation of any of the covenants and conditions contained herein, by Court order or judgment shall in no way

affect any of the other provisions which shall remain in full force and effect.

16.

TWO OR MORE BUYERS: If there are two or more purchasers Wider this contract, the obligations

mentioned herein are deemed contracted by the BUYERS in theirjoint and solidary capacities.

i.

AMENDMENT OR NOVATION OF CONTRACT:

This agreement cancels and supercedes all

previous contracts or agreements entered into by the parties herein, and any change, modification, alteration or amendment

of this contract, shall be authorized only when signed by both parties.

18.

INDEMNITY AND ATTORNEY'S FEES: In the event that the SELLER is compelled to seekjudicial

relief arising from any breach of the terms and conditions of this contract by the BUYER, the BUYER hereby binds himself

to pay the SELLER by way of attorney's fees a sum equivalent to TWENTY FIVE PERCENT (25%) of the total amount

claimed, but in no case be less than TEN THOUSAND PESOS ( P 10,000.00 ) aside from any damages, costs of litigation

and other expenses to which the SELLER is entitled to Widerthe law.

19.

PERPETUAL EASEMENT:

For all individual units, the exterior wall of the house is subject to a

perpetual easement stated in the Deed of Restrictions.

The BUYER hereby acknowledges that in buying the property, he has full knowledge of land development works

and/or improvements actually being Widertakenor which in the future may be Widertakenby the SELLER in the vicinity of

the property, and that he and his.heirs, successors and assigns hereby holds the SELLER, its successors and assigns, free

and hannless from any claim or action of whatsoever nature and kind which may arise out of or due to any and all

inconvenience, disturbance, minor property damages ( which shaDbe repaired or restored) and/or nuisance caused to him

by the said development works.

20.

IMPROVEMENTS REQUIRED BY GOVERNMENT: The BUYER shall pay for any filling or

improvements on the land which may be required by the Government or other competent authority.

21.

SUBDMSION PLAN AMENDMENTS: Whenever the government or any of its instrumentalities

empowered by law shall cause or authorize an amendment of the subdivision plan, appropriate adjustments shall

accordingly be made to conform to the amended plan. In such an event, there shall be no change in the rights and

obligations of the parties Wider this contract except only that caused by the adjustment in the area and proportionate

increase or decrease in the total contract price computed at the same price per square meter.

Page 4 of 6

The SELLER reserves the right to expand and enhance the subdivision, and as such, utilize any roadway, utilities

and facilities in the course of its expansion. At the option of the SELLERor the DEVELOPER, the expanded property may

or may not be considered as the same Association or entity handling the original property and may be sold, developed or

alienated separatelyfrom this.

22.

NOTICES:

All notices and correspondence of any nature, sent to the BUYER at this above mentioned

address, shall bind him regardless of actual receipt, unless written notice of change or amendment of address has been

received by the SELLER.

23.

LOSS OF CONTRACT:

In case of loss of the BUYER copy of this contract, the BUYER must

immediately notify the SELLER in writing. The SELLER shall not in any way be liable for damages arising out of the

usage of such lost contract.

24.

TITLE:

Title to said parcel of land shall remain in the name of the SELLER until complete payment

of the total purchase price and interest thereon shall have been made by the BUYER. Thereafter, the SELLER shall effect

the Transfer-of-Title in the name of the BUYER, free from any liens and encumbrances except those provided for in the

Land Registration Act those imposed by the duly constituted authorities and the DEED OF RESTRICTIONS

incorporated as ANNEX A as per paragraph 26 of this agreement.

25.

ASSOCIATION MEMBERSHIP:

The BUYER hereby accepts membership of the Mountain Haven

Homeowners Association, Inc. composed of lot owners and residents of Mountain Haven, which will be a non-stock, non-

sectarian, non-political cooperative association for the main purpose of the proper operations, maintenance and

beautification of the road and community facilities and utilities, security and fire protection, enforcement of restrictive

easements and to protect the general health, safety and morals of the community.

26.

CONDITONS AND RESTRICTIONS AS LIENS:

The BUYER hereby agrees to the conditions and

restrictions hereby attached and incorporated into this contract as ANNEX A, which shall form part of this Deed. It is

understood further that the BUYER agrees that the aforementioned ANNEX A shall be annotated in the Certificate of Title

of each lot, and will constitute a SECOND LIEN on the property to those of the liens of the Government for taxes and

voluntary mortgages or reasonable consideration, entered into in good faith.

As members of the homeowners' association, lot owners and residents agree to bind themselves to abide by the

rules and regulations of the association to pay regular dues, penalties and sanctions. The conditions, restrictions and

easements enumerated in ANNEX A, shall be enforceable by the SELLER and/or the MOUNTAIN HAYEN

HOMEOWNERS' ASSOCIATION, its assigns and successors.

27.

HOUSE CONSTRUCTION:

The BUYER shall not be allowed to construct a house on the lot unless

the BUYER has paid at least 50 % of the purchase price therein.

28.

MORTGAGES:

The BUYER hereby agrees that the property may be mortgaged or encumbered in the

meantime to third partiesprovided that after he/she shall have paid fully the purchase price and all other obligations, the

SELLER shall cause the release and discharge of the mortgage so that the Title of said lot/s be freed from said lien and

encumbrance.

IN WITNESS WHEREOF, the parties affix their signatures on the date and place above first written.

SELLER:

MOUNTAIN HAVEN DEVELOPMENT, INe.

TIN:

005-702-52600

By: MARTIN Y. PINEDA

BUYER:

TIN:

Page 5 of 6

---

Signed in the presence of:

REPUBLIC OF THE PHILIPPINES

Davao City

)

) S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction this

personally appeared the following:

day of

Name

SSS/ Passoort

Date Exuirv

MOUNTAIN HAYEN DEV'T, INC.

MARTIN Y. PINEDA

SSS No. 09-1538018-7

SSS No. 03-8173427-3

Known to me and to me known to be the same persons who executed the foregoing Contract to Selland they acknowledged

to me that the same is their free and voluntary act and deed, as well as the free and voluntary act and deed of the

Corporation herein represented.

WITNESS MY HAND AND SEAL on the date place first above written.

Doc. No.

Page No.

Book No.

Series of

Page 6 of 6