Republic
of the Philippines )
City
of (Place) ) S.S.
CONTRACT
TO SELL
KNOW
ALL MEN BY THESE PRESENTS:
This Contract to Sell made and entered
into this (Day) day of (Month) at Makati City, Philippines by
and between:
(NAME OF SELLER)
a
corporation duly incorporated under and by virtue of Philippine laws with principal
office address at (Place of Principal Office), duly represented herein by its (Name of Representative), hereinafter
referred to as the “SELLER”;
.
-AND-
(NAME OF BUYER)
of
legal age, Filipino, single/married, and a resident of (Place of Residence), and hereinafter referred to as the “BUYER”;
WITNESSETH: THAT—
WHEREAS, the SELLER, is the absolute and
registered owner of the following motor vehicle, more particularly described as
follows:
MODEL:
COLOR:
ENGINE NO.:
CHASSIS NO.:
PLATE NO.:
NOW, THEREFORE, for and in consideration
of the foregoing premises and of the terms, conditions and covenants herein
below set forth, the parties hereto stipulate as follows:
1.)
The
BUYER shall pay the SELLER a total sum of PESOS: (AMOUNT
IN WORDS) ((Amount in Figures)) Philippine
currency, interest free, payable on in ______ monthly instalments as per
amortization schedule herein attached and made as an integral part of this
contract, to be deducted automatically (State
additional terms agreed upon by the buyer and seller)
2.)
That
if the BUYER has paid already the equivalent of _______ amortization, the BUYER
shall have the option to pay the balance plus the accrued interest at
prevailing rate. Otherwise, the BUYER, if unable to pay the balance including
interest at the time of his cessation of work or separation from employment, he
shall immediately turnover possession of the subject motor vehicle to the SELLER
and all the amortization already made shall be considered as mere rentals for
the use of the subject motor vehicle and said BUYER shall surrender the
possession of the said car to the SELLER immediately upon his separation from
work;
3.)
Upon
full payment of the aforestated purchase price, the SELLER shall SELL, CEDE,
TRANSFER and CON!EY unto the BUYER, his heirs and assigns, the motor vehicle
above-described, as free from all liens and encumbrances whatsoever;
4.)
All
expenses arising out of or incidental to the execution of the corresponding Deed
of Absolute Sale, as well as registration fees required to transfer ownership
to the BUYER’S name shall be for the exclusive account of the BUYER;
5.)
All
fuel expenses as well as expenses for the maintenance, repairs, future
insurance and registration fees of the sub2ect motor vehicle shall, starting from
the date of delivery thereof to the BUYER, shall be borne by the BUYER;
6.)
The
SELLER may , at his option, advance funds required for repair, maintenance,
rehabilitation, whenever deemed necessary and such amount advanced will be for
the account of the BUYER with interest at the prevailing rate;
7.)
No
delay or omission on the part of the SELLER in exercising any right granted
under this Contract shall be construed as an abandonment or waiver thereof or
variation of any provisions hereof.
IN WITNESS, WHEREOF, the parties have set
their hands on this (Date) at (Place), Philippines.
(NAME OF SELLER’S
REPRESENTATIVE) (NAME OF BUYER)
BY:
In behalf of ---
(NAME OF SELLER)
SIGNED
IN THE PRESENCE OF:
_________________________ ________________________
ACKNOWLEDGMENT
Before me a Notary Public for and in
the City of (Place), this (Date), personally appeared the
following:
CTC/ID No. Date
and Place of Issue
(NAME OF SELLER/REP)
(NAME OF BUYER)
known to me to and to me known to be the same
persons who executed the foregoing Contract to Sell, who acknowledged to me
that the same is their true and voluntary act and deed.
WITNESS MY HAND AND SEAL on the date
and place first above written.
Doc. No.
_____;
Page No. _____;
Book No. _____;
Series of _____.
*Attach Secretary’s Certificate of Seller-Company if necessary.
