|
Agreement to KNOW ALL MEN BY THESE PRESENTS: This AGREEMENT executed this _____day of ________ , 19_____by and between the San Antonio Subdivision, with offices at No. 10 Kitanlad St., Quezon City, Philippines, hereinafter referred to as OWNER, and _________________________________,
Filipino,
of legal age, single/married to ___________________________,
with
residence at ___________________________ herein
after
referred to as PURCHASER. Witnesseth: That for and in consideration of the sum of ________________ PESOS (P________), Philippine currency, payable in the form hereinafter expressed, has agreed to sell to the PURCHASER, and the PURCHASER has agreed to buy from the OWNER, a parcel of land situated in what is known as the SAN ANTONIO SUBDIVISION situated in ____________, of which the owner is the absolute registered owner in accordance with the LAND REGISTRATION ACT, as evidenced by TRANSFER CERTIFICATE OF TITLE NO. __________of the land records of ________and which parcel of land is known as LOT NO.__________BLOCK NO.__________SECTION/PHASE NO. _________ of the subdivision plan (LRC) PSD NO.___________ , containing an area of _______________ square meters, more or less. The further conditions of the contract are as follows: (1) The PURCHASER agrees to pay the OWNER upon execution of this Contract the sum of ________________PESOS (P ____________ ) as first payment on account of the purchase price and agrees to pay the balance of ___________________PESOS (P__________) at the residence of the OWNER in Quezon City, Philippines, or such other office as the OWNER may designate in________________ equal monthly installments of __________________________ PESOS (P___________) interest being included on successive monthly balance at _______% per annum, and payments to be made on the________ day of each month hereafter beginning _________________ 19______. (2) The
PURCHASER obligates himself to reimburse the OWNER for real estate taxes,
special assessments and other charges which may attach against said parcel
of land during the term of this contract. (3) Title to said parcel of land shall remain in the name of the OWNER until complete payment by the PURCHASER of all obligations herein stipulated, at which time the OWNER agrees to execute a final deed of sale in favor of the PURCHASER and cause the issuance of a certificate of title in the name of the latter, free from liens and encumbrances except those provided in the Land Registration Act, those imposed by the authorities, and those contained in Clauses Nos. (10) and (16) of this agreement. Registration fees and documentary stamps of the deed of sale shall be paid by the PURCHASER. (4) Only the PURCHASER shall be allowed for all legal purposes to take possession of the parcel of land upon payment of the down payment: Provided, however, that pending• the payment of the full price his/her possession under this agreement shall be only that of a tenant or lessee, and subject to ejectment proceedings during all the period of this agreement. (5) In the event that any of the payments as stipulated be not paid when, where, and as the same become due, it is agreed that sums' in arrears shall bear interest at the rate of TWELVE (12%) per centumi per annum payable monthly from the date on which said sum is due' and payable. (6) If any such payment or payments shall continue in arrears for more than sixty days, or if the PURCHASER shall violate any of the conditions herein set forth then the entire unpaid balance due under this contract, with any interest which may have attached shall at once become due and payable and shall bear interest at the rate of TWELVE (12%) per centum per annum until paid, and in such case, the PURCHASER further agrees to pay to the OWNER a sum equal to ten (10%) per centum of the amount due as attorney's fees. (7) In case the PURCHASER fails to comply with any conditions of this contract and/or fails to pay any monthly installments or any payments herein agreed upon, the PURCHASER shall be granted a period or periods of grace which in no case shall exceed (60) days to be counted from the date the condition is breached, or the said payments ought to have been made, during which period of grace the PURCHASER must comply with the said condition or satisfy all due monetary obligations including those which correspond to the period of grace. OTHERWISE, the Contract shall be automatically cancelled and rescinded and of no force and effect, and as a consequence thereof, the OWNER may dispose of the parcels of land covered by this Contract in favor of other persons, as if this Contract had never been entered into. In case of the cancellation of this Contract all amounts paid in accordance with this agreement together with all the improvements introduced in the premises, shall be considered as rents paid for the use and occupation of the above-mentioned premises and as payments for the damages suffered by the OWNER on account of the failure of the PURCHASER to fulfill his part of this Contract and the PURCHASER hereby renounces all his rights to demand or reclaim the return of the same and further obligates himself to peacefully vacate the premises and deliver the same to the OWNER: PROVIDED, HOWEVER, that any consideration, concession, tolerance or relaxation of any provisions hereof shall not be interpreted as a renunciation on the part of the OWNER of any of his rights / granted in this CONTRACT. (8) The PURCHASER agrees not to sell, cede, encumber, mortgage, transfer or in any other manner affect his rights under this contract without the express consent of the OWNER in writing until all the stipulations of this contract shall have been fulfilled. (9) The term of this agreement is established for the exclusive benefit of the OWNER and who shall be under no obligation to receive payment of any installment or any other payment before the same is due. Provided,, however, that the OWNER, in its sole and absolute discretion, may allow the purchaser to, pay the outstanding unpaid capital totally or partially, upon such terms and conditions as may be imposed by the OWNER: Provided, furthermore, that in case the OWNER allows partial payments in advance, such payments will not relieve the PURCHASER from paying the agreed monthly installments and the only effect of such partial payments shall be to shorten the term of the contract. Payment of fractional installments will not be accepted. (10) The PURCHASER agrees as a further consideration of this contract that no building except of strong materials not less than P 10,000.00 shall be constructed upon the said parcel of land. It must be provided with modern sanitary installations connected to an approved septic tank (11) This Contract shall be obligatory upon the heirs, successors, administrators, and assigns of the respective parties, PROVIDED that the death of the PURCHASER shall operate to cancel this contract and forfeit all his interest therein to the OWNER unless within THREE (3) months from the death of the purchaser an administrator shall have been appointed by a competent court and the OWNER notified of such appointment, or unless the heirs or one of them comply with the terms of this contract without estate proceedings. (12) In case an extraordinary inflation or deflation of the currency stipulated should supervene, the value of the currency at the time of the establishment of this obligation shall be the basis of payment. (13)
Should the OWNER resort to the Courts of Justice in order to eject the
PURCHASER and/or for the protection of its rights or redress of its
grievances, under this agreement, the PURCHASER agrees to pay to the
OWNER, by way of attorney's fees, a reasonable sum which in no case shall
be less than Five Hundred Pesos (`P500.00), Philippine currency, if the
case is in the Municipal or Justice of the Peace Court, an additional One
Thousand Pesos (11,000.00), Philippine currency, if the case reaches
[or is] the Court of First Instance, and a further sum of Two Thousand
Pesos (12,000.00), Philippine currency, if it reaches the Court of Appeals
or the Supreme Court, and, in addition, the costs and expenses of
litigation and the damages, actual or consequential, to which the OWNER
may be entitled by law. Nothing in this section shall be construed as in any way amending the automatic provisions provided in Clauses Nos. (6) and (7) hereof. (14) In the
event of suit arising from this contract, the parties hereto agree that
the venue of the action shall be in the courts of justice of (15) That the PURCHASER hereby represents and makes manifest that this entire agreement has been read and/or translated in a language or dialect known to and understood by him/her. (16) The
property is subject to a perpetual easement of two (2) meters within the
lot and adjacent to the rear and two sides thereof for the purpose of
inspection, measurements, relocation survey, laying of monuments or of
necessary lines of water, gas, electric power, telephones and other public
services, and the PURCHASER hereby agrees that the OWNER or its
representatives or representatives of public utility entities shall
have the right to enter the property any time for the construction or
repair of the above purpose for which the easement is created and any
inconvenience or disturbance thus caused shall not be a cause for the
rescission of this agreement or for an action for damages. (17) The parcel of land, subject to this agreement shall be used by the PURCHASER exclusively for residential purposes and he shall not be entitled to take or remove soil, stones or gravel from it or from any other lot belonging to the OWNER nor shall the lot be utilized for poultry or piggery. (18) The PURCHASER shall do or pay for any filling or any improvements on the land which maybe required by the Government or other competent authority, and in case the OWNER is compelled to make such filling or improvements, the former shall reimburse the OWNER of the cost and expenses thereby incurred by the latter by paying an initial payment of TWENTY (20%) per centum of the total cost of the filling or improvements and paying the balance on equal monthly installments for the remainder of the term of this agreement, bearing interest over the unpaid balance, at the rate of TWELVE (12%) per centum per annum. The initial payments shall be due from the day the filling or improvements has been completed, and the monthly payments shall commence on the first day of each calendar month thereafter. Should this contract be cancelled and terminated in accordance with Clause No. 13 hereof, the filling or any other improvements made, whether totally or partially paid by the PURCHASER, shall form part of and be attached to the land and shall become the property of the OWNER without any obligation on the part of the latter to indemnify the PURCHASER for the cost of the same. (19) This agreement cancels and supersedes all previous contracts or agreements, if any, between the parties herein in connection with the parcel of land subject of this agreement, and it shall not be amended, changed, modified, novated or in any way altered by repeated acts of tolerance of the OWNER, as any such amendments, changes, modifications, novations or alterations shall be valid only if made in writing and signed by both parties to this agreement. IN
WITNESS WHEREOF, the parties hereto have executed this instrument
at By:
_______________________________ Signed in the presence of:
|