This notice herby state that Mr. and Mrs. Johne Doe and Mr. Peter John of Arcade Home Builders agreed to terminate the contract of the 2-Bedroom Bungalow House and Lot project (Land Title No. 99909-20222205391) located at Lot 5, Block 66, Moncoda Subdivision 2 in Brgy. Salapadan Piat City, Quirino.
On (date here), this notice of contract termination takes effect immediately.
Termination of said contract is effected in respect that Mr. and Mrs. John Doe agreed to receive the amount of TWO HUNDRED THOUSAND DOLLARS ($200, 000.00) from Arcade Home Builders as partial payment for the FIVE HUNDRED THOUSANDS DOLLARS ($500,000.00) down payment in behalf of Mr. John Doe and Mrs. Jesica Doe.
Furthermore, both parties agreed that the remaining balance of THREE HUNDRED THOUSAND DOLLARS ($300, 000.00) shall be given through installment basis for FIFTY THOUSAND DOLLAR ($50, 000.00) each month beginning (date of start here) until completion within six (6) months period on (ending date here).
Payee Payment Recipient
Witness #1 Witness #2