DEED OF ABSOLUTE SALE WITH PACTO DE RETRO
KNOW ALL MEN BY THESE PRESENTS:
This Deed of Absolute Sale with Pacto de Retro made and executed by and between:
JAKEE CHAN, of legal age, Filipino, widow, and with postal address at No. 333 Kamias Road, Quezon City, hereinafter referred to as the SELLER;
JET LEE, of legal age, Filipino, single with residence address at 555 Kamagong Street, Ayala Alabang Village, Muntinlupa City, Metro Manila hereinafter referred to as the BUYER.
That the SELLER is the absolute owner of a certain parcel of land situated in San Pablo City, Province of Laguna, and more particularly described and bounded as follows:
TCT No. T-123456
A PARCEL OF LAND (Lot 32 of the consolidation-subdivision plan (LRC) Pcs-5141, being a portion of the consolidation of Lots 1 and 2, Psu-112287 Amd., LRC (GLRO) Rec. No. N-17511), situated in the Dist. Of Concepcion, City of San Pablo, Laguna, Island of Luzon. Bounded on the NE., points 3 to 6, by Lot 85; on the S., points 6 to 1 by Lot 30; on the SW., points 1 to 2, by Lot 31; and on the N., points 2 to 3 by Lot 35, all of the consolidation-subdivision plan. Beginning at a point marked "1" on plan, being N. 51 deg. 36' E., 1321.76 m. from B.L.L.M. No.1, San Pablo, Laguna (a copy of which title is hereto attached as Annex "A")
THAT the SELLER, for and in consideration of the amount of FIVE HUNDRED THOUSAND PESOS (P500,000.00), Philippine Currency, receipt in full is hereby acknowledged by her to her satisfaction, hereby SELL, TRANSFER and CONVEY under PACTO DE RETRO unto said BUYER, his heirs and assigns, the above described property with all the buildings and improvement thereon, free from liens and encumbrances whatsoever;
THAT the SELLER, in executing this conveyance, hereby reserves the right to REPURCHASE, and the BUYER, in accepting the same, hereby obligates himself to RESELL the property herein conveyed within a period of five (5) years from and after the date of this instrument for the same price of FIVE HUNDRED THOUSAND PESOS (P500,000.00), Philippine Currency: Provided however, that if the SELLER fails to exercise her right to repurchase as herein granted within the period stipulated, then this conveyance shall become absolute and irrevocable, without the necessity of drawing up a new deed of absolute sale, subject to the requirements of the law regarding consolidation of ownership of real property.
IN WITNESS WHEREOF, the parties have hereunto set their hands this 16th day of June 2013 in Manila, Philippines.
JAKEE CHAN JET LEE
Signed in the presence of: