Professional Documents
Culture Documents
2 Semester, AY 2018-2019
nd
HOMEWORK #1
A parcel of land ( Lot 7-B of the subd. plan (LRC) Psd-185962, being a portion of
Lot 7, Block 265, PCS -112, L. R.C. Rec No. 699, 875 & 917), situated in the Bo. of (San
Felipe Neri) Mandaluyong, Province of Rizal, Island of Luzon. Bounded on the NE.,
points 1 to 3 by Road Lot 14,Pcs-112; on the SE., points 3 to 4 by Ideal Street; on the SW,
points 4 to 5 by Lot 7-A, of the subd. plan; & on the NW. 5 to 1 by Lot 6, Block 265, Pcs -
112. Beginning at a point, marked “1” on plan, being N. 75 deg. 01’E., 2038.73 m. from
B.L.L.M. No 1, Mp. Of San Felipe Neri; thence S. 67 deg. 37’E., 26.44 m. to point 2; thence
S. 18 deg. 01’E., 3.97 m. to point 3; thence S. 30 deg. 08’W., 13.06 m. to point 4: thence N.
67 deg. 18’W., 26.85 m. to point 5; thence N. 20 deg. 53.’E., 15.82 m. to the point of
beginning: containing an area of FOUR HUNDRED AND FORTY TWO (442) SQUARE
METERS more or less. All points referred to are indicated on the plan and are marked on
the ground as follows; Points 1 to 3 by old PLS & the rest by P.S. Cyl. Conc. Mons. 15x60
cm; bearings true; dec. 0 deg. 50’E., & that of the subd. survey, executed by Santiago
Espanol, Geodetic Engr., on July 24-28, 1973. xxx
The parties agreed that Annie would sell the Land to Hidalgo for the purchase price of
P4,500,000.00, subject to the following conditions:
1. Hidalgo shall pay for all taxes and other expenses that may be incurred by the Spouses
Batungbakal in causing the transfer of ownership of the Land in her favor;
2. Upon the execution of the corresponding contract, Hidalgo shall pay Annie the sum of
P900,000.00, representing 20% of the total consideration as downpayment;
5. Annie shall be liable for real property tax due on the Land, until such time that the full
amount of total consideration shall have been fully paid by Hidalgo;
6. Hidalgo shall be liable for the expenses relative to the execution of the deed of absolute
sale and the payment of taxes, fees, and other expenses that may be incurred in
transferring the Land in her name, including but not limited to, capital gains tax,
documentary stamp tax, transfer tax, registration fees, and broker’s commission;
7. Annie reserves the right to extrajudicially rescind her contract with Hidalgo in case of
the latter’s failure to fully pay the purchase price; and
8. Annie warrants valid title to, and peaceful possession of the Land, and that the same is
free and clear of all liens and encumbrances of any kind whatsoever.