Deed of Conditional Sale

DEED OF CONDITIONAL SALE OF A PORTION OF A PARCEL OF LAND

KNOW ALL MEN BY THESE PRESENTS: This DEED OF ABSOLUTE SALE OF A PORTION OF A PARCEL OF LAND, made and executed in the place and date mentioned hereinbelow by and between JAIME D. RAVANES, single and TERESITA R. VILAFUERTE, widow, both Filipinos, of legal ages and both residents of V. Gullas St. Kalubihan, Cebu City, Philippines, hereinafter referred to as VENDORS, and AUBREY C. SILVA MIGALA HANDIGE, Filipino, of legal age, married to Jaliya Krishanta Silva Migala Handige ( Sri Lankan National ) and a resident of Tungkop, Minglanilla, Cebu, Philippines, hereinafter referred to as VENDEE; WITNESSETH : WHEREAS, the VENDORS are the registered owners of a certain parcel of land, situated in Tungkop, Minglanilla, Cebu, identified as Lot No. 5989-B, registered under TCT No. 156755, containing an area of ONE THOUSAND TWO HUNDRED (1,200 ) SQUARE METERS and which is more particularly described as follows: LOT 5989-B, TCT NO. T-156755 “A parcel of land (Lot 5989-B, of the subdivision plan, Psd-07-075691, being a portion of Lot 5989 Talisay-Minglanilla Estate), situated in the Barangay of Tungkop, Municipality of Minglanilla, Province of Cebu, Island of Cebu. Bounded on the SE., along lines 1-2; 2-3 by Lot 6607, Lot 6008; on the SW., along line 3-4 by lot 5988 all of Talisay-Minglanilla Estate; on the NW., NE., NW., & NE., along lines 4-5-6-7-1 by Lot 5989-A of the subdivision plan X x x Containing an area of ONE THOUSAND TWO HUNDRED (1,200) SQUARE METERS, more or less.”

That for and in consideration of the sum of TWO HUNDRED FORTY THOUSAND (P240,000.00) PESOS, in Philippine Currency, receipt of which is hereby acknowledged by and to the entire and complete satisfaction of the VENDORS from the VENDEE, the VENDORS hereby SELL, CEDE, TRANSFER and CONVEY, by way of absolute sale, unto and in favor of the VENDEE, AUBREY C. SILVA MIGALA HANDIGE, her heirs, assigns and successors-in-interest, a portion equivalent to THREE HUNDRED (300) SQUARE METERS out of the total area of the above-described parcel of land; That the above-described real property is registered in accordance with the provisions of the Property Registration Decree, and the VENDORS shall warrant to have said property free from any lien or encumbrance; That the same property is not tenanted and no existing improvements found thereon and the provisions of Article 1623 of the New Civil Code of the Philippines has been complied with prior to the execution of the document of sale. IN WITNESS WHEREOF, the aforementioned parties have hereunto set their hands this___ day of_______________________ at the Municipality of Minglanilla, Province of Cebu, Philippines.

JAIME RAVANES VENDOR OSCA ID No. 26672 OSCA, Cebu City

TERESITA R. VILLAFUERTE VENDOR ID No. Cebu-09-0017033 St. Peter Life Plan

SIGNED IN THE PRESENCE OF: 1.___________________ 2. _________________ ACKNOWLEDGMENT

BEFORE ME, this ___ day of ______________________ at the _________________, Province of Cebu, Philippines, personally appeared the aforementioned parties, with their respective valid ID’s, both known to me and to me known to be the same persons who executed the foregoing Instrument, and they acknowledged to me that the same is their free act and deed. WITNESS MY HAND SEAL. DOC. No. __________ Page No. __________

Book No. __________ Series of 2011.