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;
and
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.
WITNESSETH:
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
Seller Buyer
Seller Buyer
Signed in the presence of:
___________________________ __________________________
(ACKNOWLEDGMENT)