MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This AGREEMENT made and entered into this ________________ by and
between:
DRA. RITA B. POBLETE, HENRIETA B. UMALE, JOCELYN UMALE
VICTA AND ELAÑO B. UMALE, all of legal age, Filipino and a resident
375 and 385 P. Burgos Ave., Caridad, Cavite City, hereinafter referred to
as the “FIRST PARTY”;
and
CITIC LAND DEVELOPMENT CORP., represented by its President
JERRY T. SY, of legal age, Filipino and with office address at E.
Aguinaldo, Kaybagal South, Tagaytay City, Philippines, herein referred to
as the “SECOND PARTY”;
- WITNESSETH THAT -
WHEREAS, the FIRST PARTY is the lawful and registered owner of a parcel of land
located at Brgy. Kaybagal, Tagaytay City, covered and described under TCT No. 39661
of the Registry of Deeds of Tagaytay City, Province of Cavite;
WHEREAS, CAVITEX the FIRST PARTY intends to sell their share, portion of the
parcel of land, containing an area of 3,372.50 sq. m. Including the frontage lot consisting
of more or less 210 sq. m. belonging to DRA. RITA B. POBLETE, covered and describe
under TCT No. T-16131 of the Registry of Deeds of Tagaytay City, Province of Cavite;
WHEREAS, the SECOND PARTY wants to buy the said portion of the parcel of land
containing a total area of more or less 3,582.50 sq. m. in the amount of Php 37,000.00 per
square meters;
WHEREAS, the said subject parcel of land is under partition by virtue of the Judgement
based on the Compromise Agreement issued by the Regional Trial Court, Branch 18,
Tagaytay City, Province of Cavite, which is already final and executory.
NOW THEREFORE, for and in consideration of the foregoing premises, the parties
hereto have agreed as follows:
1. The FIRST PARTY thru their Counsel will facilitate the partition of the said
parcel of land until all the necessary documents are completed for the SECOND
PARTY;
2. Upon full payment of the SECOND PARTY of the agreed selling price of Php
132,552,500.00, the FIRST PARTY will execute a Deed of Absolute Sale containing
the area agreed herein and surrender all the necessary documents for the
ownership of the SECOND PARTY. Likewise, the SECOND PARTY is allowed to
take possession of the said subject property within the area of 3,582.50 sq.m.
based on the approved plan in the Judgement issued by the Court;
3. Upon full payment and execution of the Deed of Absolute Sale in favor of the
SECOND PARTY, the latter will be the one to take care all the expenses for the
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transfer of the said parcel of land, including the Capital Gain Tax, Documentary
Stamp Tax, Transfer Tax, registration fee and the like;
4. The parties herein are required by law to comply faithfully with the terms and
conditions set in this agreement. In case of any default or breach of this
agreement is considered a ground for the rescission of the sale and
reimbursement of the selling price or forfeiture as the case may be depending on
the aggrieved party
IN WITNESS WHEREOF, the respective representatives of the Parties have
hereunto set their hands this ____________________ at Cavite City, Philippines.
DRA. RITA B. POBLETE HENRIETA B. UMALE
Seller Seller
Valid ID No. 4702745296 Valid ID No. ____________
JOCELYN UMALE VICTA ELAÑO B. UMALE
Seller Seller
Valid ID No. _____________ Valid ID No. _____________
Signed in the presence of:
______________________________ ______________________________
ACKNOWLEDGMENT
Republic of the Philippines )
Province of Cavite ) S.S.
BEFORE ME, a Notary Public for the City of Cavite and the Municipalities of
Noveleta and Rosario, Cavite, this _____________________, personally came and
appeared above-named persons with the valid ID indicated under their names, known
to me and to me known to be the same persons who executed the foregoing instrument
consisting of two (2) pages, including the page on which this acknowledgement is
written and signed by the parties and their instrumental witnesses on each and every
page thereof, which they acknowledged to me to be their free and voluntary act and
deed.
WITNESS MY HAND AND NOTARIAL SEAL.
NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 2020.
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