Cover Letter

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENT:

This contract to Sell, made and executed by and between:

Tatlong Itlog Corporation. A domestic corporation duly organized and existing under the laws of the _________with office address at Barcarse Bldg., Cupang, ____________represented by its duly authorized representative, Fran Jacobs hereinafter refer to as the VENDOR;

-and-

Oniger Atapil, of legal age, single, residing at ____________________, hereinafter referred to as the VENDEE/S.

WITHNESSETH:

That the VENDOR, for and in consideration of the sum of EIGHT HUNDRED SEVENTY FIVE THOUSAND ONLY currency, plus all other amounts and of all other terms and condition agree upon in this contract, has agreed to sell to the VENDEE/S, who had agreed to buy parcel of situated at Lot No. 49-C of the Subd. Plan, Psd-04-147554, being a portion of Lot 49, Blk. 1, (LRC) Pcs-04-004041, LRC Rec. No. Annex Asialand Development Corporation St. Catheine Village Project, St. Catheine Subdivision, Brgy. Hinapao, C, Lawis Extension, herein described below, together with the two (2) storey type residence constructed thereon, to wit:

Lot No. 49-C of the subd. Plan, Psd-04-147554, being a portion of the Lot 49, Blk. 1, (LRC) Pcs-04-004041, LRC Rec. No. covered by TCT No. R-8730 with the lot area of approximately FIFTY SQUARE METERS (50.00 m²), with a reinforced concrete a cement hollow blocks two storey type residence constructed thereon, with a covered area of approximately SIXTY SQUARE METERS (60.00 m²) (Annexes  plans and specification attached.)

The other terms and conditions of this Contact to Sell are as follows:

Paragraph A - That the VENDEE/S agree(s) to pay the VENDOR at the latters office Address the purchase price mentioned above, without the necessity of demand or the services of a collector, in the manner provided hereunder:

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House and Lot Price 875,000.00

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Transfer and Registration Expenses

inclusive Doc. Stamps and EWT or its equivalent BIR Tax, National/ City Fees/Taxes

-account of buyer-

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Total House & Lot Price inclusive connections of utilities Php 882,500.00

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RESERVATION FEE/DOWNPAYMENT

Receipt of which is hereby acknowledge 200,000.00 with O.R. No. 3551 Dated Feb. 12 ,2005.

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Paragraph C The parties hereof, VENDOR ans VENDEE/S specifically agree as they have agreed to the condition of the “STANDARD GENERAL TERMS of Asialand attached herewith and forming part of this Contract to Sell, in so far as they are consistent with the provisions of this Contract to Sell.

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Paragraph D The house is complete and ready for occupancy.

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IN WITNESSETH THEREOF, the parties have hereunto set there hand in this _______ day of ________, 2005 at_______, .

VENDOR
TATLONG ITLOG CORP

VENDEE/S
GANDI LUGASAN

By:

JEFFREY FERNANDEZ

Witnesses:

___________________________
__________________________

ACKNOWLEDGEMENT