CONTRACT OF SALE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Sale [the “Contract”] is made and entered into this ___ at ____________, Philippines, by and between:

MR. JUAN DELA CRUZ, a Filipino Citizen, of legal age, married and residing at Rallos Compound, Brgy. Sambag 1, Cebu City. (hereinafter referred to as SELLER);

- and -

PEDRO’S LIPAT BAHAY, a corporation duly organized and existing under Philippine Laws, with principal office address at Brgy. Paknaan, Mandaue City, Philippines, and represented herein by its President, Mr. PEDRO SANTOS, (hereinafter referred to as the “BUYER”)

Each of the above may be referred to individually as a “Party” and may be collectively referred to as the “Parties.”

WITNESSETH: That

WHEREAS, Seller is the legal and absolute owner of five (5) motor vehicles consisting of the following:

MAKE   : MITSUBISHI MOTOR NO.   : 12345 SERIES    : CANTER SERIAL/CHASSIS NO. : 12345TYPE OF BODY  : TRUCK PLATE NO.  : FBS 766 YEAR MODEL   : 1996 FILE NO.    :   C.R. NO.    :

MAKE   : IZUZU MOTOR NO.   : 1112131415 SERIES    : ELF SERIAL/CHASSIS NO. : 1112131415TYPE OF BODY  : TRUCK PLATE NO.  : KDJ 528YEAR MODEL   : 1997 FILE NO.    :   C.R. NO.    :

MAKE   : IZUZU MOTOR NO.   : 67890SERIES    : NPR Series SERIAL/CHASSIS NO. : 67890TYPE OF BODY  : TRUCK PLATE NO.  : ADA 1154YEAR MODEL   : 2003 FILE NO.    :   C.R. NO.    :

MAKE   : FORD MOTOR NO.   : 1122334455

SERIES    : RANGER SERIAL/CHASSIS NO. : 12345TYPE OF BODY  : LIGHT TRUCK

PLATE NO.  : ROH 827

YEAR MODEL   : 2009 FILE NO.    :   C.R. NO.    :

MAKE   : MITSUBISHI MOTOR NO.   : 12345 SERIES    : CANTER SERIAL/CHASSIS NO. : 12345TYPE OF BODY  : FLATBED TRUCK

PLATE NO.  : JOP 417

YEAR MODEL   : 2003 FILE NO.    :   C.R. NO.    :

WHEREAS, the Buyer desires to purchase the abovementioned motor vehicles and the Seller is willing to sell the same to the Buyer, subject to the terms and conditions hereinafter specified.

NOW, THEREFORE, for and in consideration of the foregoing premises, and of the terms and conditions hereinafter set forth, the parties hereby agree as follows:

1. The Seller agrees to sell Buyer agrees to purchase, the aforementioned motor vehicles, free and clear from any liens, charges, claims and encumbrances whatsoever.

2. The Purchase Price for the said motor vehicles shall be at book value (herein after referred to “Purchase Price”).

3. Both parties agreed that the Purchase Price for each motor vehicle is One Million Pesos (PhP1,000,000.00).

4. The total purchase price for the said motor vehicles is Five Million Pesos (PhP5,000,000.00). 5. The Payment Terms for the Purchase Price shall be, as follows:

a) Twenty Percent (20%) upon signing of this Contract of Sale; and

b) Eighty Percent (80%) on or before November 10, 2015:

6. All notices and other communications required or permitted to be given hereunder shall be given in writing (and for this purpose shall include fax transmission), and shall be sent to the appropriate addresses of the parties as indicated on page 1 hereof.

IN WITNESS WHEREOF, the parties have signed these presents on the date and in the place first above-written.

2

Mr. Juan dela Cruz Pedro’s Lipat BahaySeller

Buyer By

____________________________ Mr. Pedro Santos

SIGNED IN THE PRESENCE OF:

________________________ ________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)__________________________ ) S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction, this ____ day of ______, 2015, personally appeared the following:

Name Passport/Driver’s License No.

Date/Place of Issuance

Mr. Juan dela CruzMr. Pedro Santos

known to me and by me known to be the same persons who executed the foregoing instrument and they acknowledged to me that the same is their free and voluntary act and deed, as well as that of the entities represented therein.

The foregoing instrument refers to a Contract of Sale over five (5) motor vehicles mentioned above, and consists of three (3) pages, including this acknowledgment page and is signed by the parties and their witnesses on each and every page hereof.

WITNESS MY HAND AND NOTARIAL SEAL on the date and in the place above written.

3

Doc. No. ____;Page No. ____;Book No. ____;Series of 2015.

4