Type of cement for foundation block sealing?

Hi Everyone,
Getting ready this weekend to build my foundation up a little then slop it away from the house. Not by much, some spots just a few inches other sections 7-8". The cement/tar they have on my house now goes up to the top of the ground. I want to extend that up a little so I can add additional dirt build up my foundation and slop it slightly. The house sits on flat land so I 'm just doing it as precaution.

I've read that I should use Portland cement. Is this correct? Do I mix it with anything or just add water and spread it on the cement block?

Also, what type of black foundation coating can I buy locally? Is this one any good: http://www.lowes.com/pd_12023-29-6125-9-30___?productId=3009900&pl=1&Ntt=foundation+tar

or can any roof sealer work?

I'm just going to pick this stuff up at lowes tonight... it's not a huge project and I'm only doing a small section of the house. So I don't need the best name brands or equipment. But I do want to make sure it's done properly. I don't need it to be water proofed... just damp proof. What I'm coating: One wall is 20' long by 8" high & the other wall is 20' long 3" tall.

Thanks!