NOW, THEREFORE, for and in consideration of the mutual covenants herein contained, the OWNER hereby sells, transfer, and conveys unto the PURCHASERS, its successor-in-interested and assigns, the above-described parcel of land upon the terms and conditions embodied hereinġ. WHEREAS, for the purpose of determining the exact area that each of the PURCHASERS has occupied, the PURCHASERS have hired the services of a Geodetic Engineer at their own expenses who conduct a survey of the subject lot and prepared a subdivision plan, copy of which is hereto attached as Annex “A”. WHEREAS, the OWNER, herein intends and herby agrees to sell to the PURCHASERS the above described parcel of land and the PURCHASERS hereby agree to buy the same at the amount of _ (p_) Philippine Currency, per square meter. WHEREAS, the PURCHASERS are the occupants by virtue of an implied/oral contract of lease of the above described parcel of land, occupying portions of the lot where their respective houses are constructed. WHEREAS, the Owner is the owner in fee simple of a parcel of land situated in the _, described as follows: _, of legal age, Filipino, single/married, and residents of _, hereinafter known as the “PURCHASER” _, of legal, Filipino, single/married/ widower/widow, and resident of _, and _, of legal age, Filipino, and a resident of _ hereinafter known as the “OWNER”
![reason not recordia memorandum of agreement of sale reason not recordia memorandum of agreement of sale](https://www.bestcollections.org/wp-content/uploads/2020/08/memorandum-of-understanding-template-21.jpg)
This Agreement made and executed this _ day of _, in the City of Cebu, Philippines, by and between: