DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

This DEED, made and executed this___ day of ______,2001, at Iloilo City, Philippines, by and between:

SPS. BALTAZAR JIMENEZ and ROSITA D. JIMENEZ, both of legal age, Filipinos,
and resident of Brgy. Bolilao, Mandurriao, Iloilo City, Philippines, herein after referred to as the VENDORS; -and-

EVANGELINE E. FERRER, of legal age,Filipino, and resident of Veterans Village, Duran,

Iloilo City, Philippines, herein after referred top as VENDEE;

WITHNESSETH that:
WHEREAS, the vendors are the absolute owners of a two (2) storey house made of mixed materials, plywood sidings on the 1st and 2nd Floor with G.I Roofing and a floor area of Forty Three and Twelve (43.12) Square Meters, more or less, standing on Government Lot No. 1051 as evidenced by Tax Declaration issued by the City Assessors Office under Pin # 139-01-043-01-0161053; WHEREAS, the VENDORS have offered to sell and the VENDEE had agreed to buy the same; NOW,THEREFORE, for and in consideration of the foregoing premises and the payment of the agreed purchase price in the sum of One Hundred Seventy Thousand (P170,000) Pesos, Philippine Currency, the VENDORS hereby agree to seal, transfer, alienate, and convey in a manner absolute unto said VENDEE, her heirs, successors, administrators, representatives, executors and assigns, the afore described property subject to the following terms and conditions: 1. Immediately after the signing of this Agreement, the VENDORS hereby voluntarily agree that she shall cause to peacefully deliver, transfer and surrender possession of the aforementioned property to the VENDEE her heirs, successors and assigns; 2. It is further understood by the between the parties hereto that the VENDORS shall cause to deliver, execute, enter and facilitate the preparation and surrender of any and all documents and /or papers necessary for the immediate transfer of the Tax Declaration to herein VENDEE as well as other pertinent documents evidencing title to the name of the VENDEE hereof.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this____ day of June 2001.

ROSITA D. JIMENEZ
Vendor

BALTAZAR L. JIMENEZ
Vendor EVENGELINE FERRER Vendee

Signed In the Presence Of:

_______________________________ and ___________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES CITY OF ILOILO

) )S.S.

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BEFORE ME, a Notary Public for the Province and the City of Iloilo, Philippines, in the City of Iloilo, this____day of______, 2001, personally appeared BALTAZAR JIMENEZ, ROSITA D. JIMENEZ and EVANGELINE E. FERRER who exhibited to me their individual Community Tax certificates with Nos. __________,____________, and __________, issued at Iloilo City, __________, and ___________same persons who executed the foregoing instrument and they acknowledged to me that the same is their true and voluntary act and deed. This document consisting of three (3) pages including this page whereon this acknowledgement is written relates to a Deed of Absolute Sale covering property owned and declared under the name of the Vendors standing on Government Lot No. 1051, duly signed by the parties and their two instrumental witnesses on each and every page and on the left hand margin hereof.

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