DEED OF ABSOLUTE SALEKNOW ALL MEN BY THESE PRESENTS:

MIGUEL P. PEÑA of legal age, Filipino, married to ROSALIE G. PEÑA with residence and postal address at Bagumbayan Pequeño St., Goa, Camarines Sur, hereinafter referred to as LANDOWNER/ SELLER.

-in favor of-

GEORGE C. NARON, Filipino citizen, of legal age, single , with residence and postal address at Belen St., Goa, Camarines Sur, hereinafter referred to as the BUYER.

WITNESSETH

WHEREAS, the SELLER is the absolute owner of the hereinafter described parcel of land situated within the VILLA PEÑA SUBDIVISION, Bagumbayan Pequeño St., Goa, Camarines Sur, covered and embraced by Transfer Certificate of Title No. 45094 & 45095 of the Register of Deeds of Camarines Sur and particularly described as :

Transfer Certificate of Title No. 45094

A parcel of Land ( Lot 22, Block 4, of the consolidation-subdivision survey, Psd-05-002197, being a portion of Lots 1 to 11 of Block 20, Lots 1 to 11 of Block 21, Lots 1 to 22 of Block 22, Lots 1 to 33 of Block 18, Lots 1 to 40 of Block 19, Road lots 5,6,7,8,9 & 14, all of Psd-05-025165 ), situated in the Barangay of Bagumbayan Pequeño, Municipality of Goa, Province of Camarines Sur, Island of Luzon. Bounded on the EAST, along line 1-2 by Road Lot 21, Block 4 of Pcs-05-002197; on the SOUTH, along line 2-3; by Road Lot 11 ( 6.6 m. wide ); on the WEST, along line 3-4 by Lot 23; and on the NORTH, along line 4-1 by Lot 17, all of Block 4, Pcs-05-002197. Beginning at the point marked “1” on the plan , being S. 40 deg. 32’W., 1200.09 m. from BLLM No., Cad-339, Goa Cadastre ;

Thence S. 03 deg. 38 ‘E., 9.01 m. to point 2;Thence S. 87 deg. 33 ‘W., 8.00 m. to point 3;Thence N. 03 deg. 37 ‘W., 9.02 m. to point 4;Thence N. 87 deg. 34 ‘E., 8.00 m. to point of;

Beginning, containing an area of SEVENTY TWO (72) SQUARE METERS. All points referred to are indicated on the plan and are marked on the ground by P.S. cyl. conc. mons. 15x40 cm.; Bearings: true; date of original survey on May 23 to 26, 1956, and that of the cons. subd. Survey on May 25 to 26, 2004, by Geodetic Engineer RENE D. SALAZAR and was approved on April 21, 2006.

Transfer Certificate of Title No. 45095

A parcel of Land ( Lot 23, Block 4, of the consolidation-subdivision survey, Psd-05-002197, being a portion of Lots 1 to 11 of Block 20, Lots 1 to 11 of Block 21, Lots 1 to 22 of Block 22, Lots 1 to 33 of Block 18, Lots 1 to 40 of Block 19, Road lots 5,6,7,8,9 & 14, all of Psd-05-025165 ), situated in the Barangay of Bagumbayan Pequeño, Municipality of Goa, Province of Camarines Sur, Island of Luzon. Bounded on the NORTH, along line 1-2 by Road Lot 16, on the EAST, along line 2-3 by Lot 22, both of Block 4, Pcs-05-002197; on the SOUTH, along line 3-4 by Road Lot 11 ( 6.5 m. wide ); and on the WEST, along line 4-1 by Lot 24, Block 4 of Pcs-05-002197. Beginning at the point marked “1” on the plan , being S. 41 deg. 06’W., 1211.05 m. from BLLM No., Cad-339, Goa Cadastre ;

Thence N. 87 deg. 34 ‘E., 8.00 m. to point 2;Thence S. 03 deg. 37 ‘E., 9.02 m. to point 3;Thence S. 87 deg. 33 ‘W., 8.00 m. to point 4;Thence N. 03 deg. 37 ‘W., 9.02 m. to point of;

Beginning, containing an area of SEVENTY TWO (72) SQUARE METERS. All points referred to are indicated on the plan and are marked on the ground by P.S. cyl. conc. mons. 15x40 cm.; Bearings: true; date of original survey on May 23 to 26, 1956, and that of the cons. subd. Survey on May 25 to 26, 2004, by Geodetic Engineer RENE D. SALAZAR and was approved on April 21, 2006.

WHEREAS, the SELLER offered to the BUYER the above described parcel residential land and the BUYER agreed to buy the same, subject to conditions and restrictions hereinafter enumerated.

NOW THEREFORE, for and consideration of the sum of ONE HUNDRED THOUSAND PESOS Philippine Currency Php (P 100,000.00), receipt of which is hereby acknowledged, the SELLER, hereby SELLS, TRANSFERS and CONVEYS to the BUYER, his heirs, successors and assigns, by the way of Absolute Sale and above-described parcel of land, free from liens and encumbrances of whatever nature except the following conditions and restrictions:

The BUYER shall hold himself in the complete compliance with the following restrictions:

1. The parcel of land of this Deed of Absolute Sale shall be used by the BUYER exclusively for residential purposes.

2. No animals shall be kept in the premises except pets such as dogs, cats or caged birds;

3. All buildings which may be constructed at anytime on the property, must be of strong materials and properly paints, with sanitary installation connected to public sewer to an appropriate septic tank, and must be constructed at the distance of not less than two (2) meters from boundary lines. All such construction must be approved by the health, fire and building official of the municipality, requirements of the National Planning Commission, its agencies or by similar board or instrumentalities of the Government which may the binding upon the BUYER shall be followed and complied by the BUYER. The SELLER shall have the unqualified right to demand demolition of the building or improvements constructed in violation of this contract;

4. No billboards, signs and advertising media which are offensive to the sight or which may destroy or obstruct the view of the landscape of the general vicinity shall be put out, constructed or affixed on the property. The SELLER has the right to impose all or any conditions in this section as liens on the property and to cause the same to appear as such on the Certificate of Title.

5. The BUYER becomes automatically a member of the Home Owner’s Association which shall be formed exclusively for lots owners of VILLA PEÑA SUBDIVISION. This Home Owner’s Association shall among others, take over from the SELLER, the administration of rules and regulations for the security, sanitation, maintenance of the community facilities within the subdivision. The BUYER is aware that the development of the subdivision is programmed;

6. Subdivision facilities shall likewise be for the exclusive use of the lot owners and shall be non-transferable;

7. The BUYER shall do or pay for any filling or any improvement on the land, which may be required by the government or other

competent authorities. I case that the SELLER is compelled to make such filling or improvements by reason of inability of the BUYER to comply with such requirements, the latter shall reimburse the SELLER he cost thereby incurred by making payment of FIFTY PERCENT (50%) of the total cost an the balance in equal monthly installment for the twelve (12) months from the date the SELLER commended to fill the lot, plus interest at the rate of TWO PERCENT (2%) per month on the unpaid balance.

8. The BUYER herby further agrees that the roads in the subdivision are made available only to the BUYER and the members of his family who shall utilize and make use of the lots so acquired for residential purposes, and not to gain entrance to and / or exit from the subdivision in such manner that the BUYER shall create the Right of Way through the roads of the subdivision, to have access to the property within, beyond or adjoining the subdivision, be it belonging to said BUYER or other persons. The SELLER shall have the right to extra judicially cancel this Deed of Absolute Sale with the right to reimbursement of FIFTY PERCENT ( 50 % ) ( principal including interest ) of whatever the BUYER, the SELLER may compel the BUYER to reconvey the same subject to reimbursement to BUYER FIFTY ( 50% ) of whatever he has paid ( on the account of the principal)

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures on this day of 20__ at Goa, Camarines Sur, Philippines.

MIGUEL P. PEÑALandowner/ Seller

With Marital Consent:

ROSALIE G. PEÑA

SIGNED IN THE PRESENCE OF:

Lorna D. Peña Donna V. Beringuela

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES ) ) S.S

BEFORE ME, the undersigned Notary Public for and in _______________ , Camarines Sur this _________ day of _____________ , 20__ personally came and appeared:

Name CTC No. Date/ Place of Issue

MIGUEL P. PEÑA 25183903 February 3, 2011/ Goa,C.S.

All known to me and to me known to be the same person who executed the foregoing Deed of Absolute Sale and acknowledge to me that the same is their own free and voluntary act and deed as well . This instrument consisting of four ( 3 ) pages , including this page whereon this acknowledgement clause is written , signed by the party and their instrumental witnesses on each and every page hereof , sealed with my notarial seal , pertains to Deed of Absolute Sale of a parcel of land.

WITNESS MY HAND AND SEAL on the date and place first abovewritten . Notary PublicDoc. No. _____Page No. _____Book No. ____Series of 20___