RESERVATION AGREEMENT
OPEN LOT
_____________________
MR. ERIC D. DE LA COSTA
Marketing & Sales Director
Alsons
Development & Investment Corp.
329 Bonifacio Street
Davao City
Sir:
I hereby reserve for purchase a parcel of land at FERNWOOD situated at Barangay Eden, Toril ,
Davao City,
Philippines with the following specifications and payment terms:
PHASE BLK. LOT LOT
PRICE/ CONTRACT DOWN
NO. NO. NO. AREA SQM. PRICE PAYMENT DISCOUNT
(Please check the appropriate box)
o CASH – with _____ % Discount on Total Contract Price
The total amount of
_____________________________________________________
(P _______________) which is net
of the Reservation Fee and Discount is payable within
________ days
or on or before _____________________. In case the buyer avails of a
Bank Loan, the Letter of
Guarantee & Equity has to be submitted within 45 days from
reservation date in order to avail of the stated discount.
o DEFERRED CASH
The total amount of
_____________________________________________________
(P ______________) which is net
of Reservation Fee is payable in_______equal
monthly installments, with each installment amounting to
_________________________________
(P _____________) to commence on
_____________________and
every_______of the month thereafter.
o INSTALLMENT PAYMENT
The Total Downpayment
is ________ of the Contract Price payable as follows:
Balance after downpayment
is payable within a period of _______ months at an interest
rate of _____________________________________ % per annum to commence
on
______________________and
every _______of the month thereafter. The
monthly
payments shall be equivalent to
___________________________________________________
(P_______________).
Terms and Conditions
:
1.
All
payments should be covered by POSTDATED CHECKS ( net
of discounts if applicable).
2. Please make all checks payable to ALDEVINCO or Alsons
Development & Investment Corp.
3. A penalty charge of 2% per month shall be charged on overdue
accounts.
4. If the account is not paid within the specified term, the contract
shall be automatically amended indicating that the total remaining balance
inclusive of the discounts and penalties shall now be imputed with 16% interest
per annum.
5. If the Vendee fails to pay at least three (3) monthly
installments, this Agreement shall be considered null and void. Following such
default, the Vendor shall be at liberty to dispose of and sell said lot,
subject to the provisions of R.A. 6552, otherwise known as the Maceda Law, in so far as said law is applicable.
6. Processing and Transfer fees are for the account of the buyer.
If within one week after my reservation, I haven’t informed ALSONS Dev of my payment term
that would mean that I would be availing of the Term Payment stated above.
I am depositing the sum of _____________________________________
as Reservation Fee for the Property. Payments to
complete down payment or to complete a cash sale will be paid on or before
________________________ and I agree to pay two (2%) percent per month in
penalties on all outstanding or unpaid balance. The penalties shall accrue from
the date said unpaid balance becomes due and demandable.
In as much as it is my responsibility to withold
and remit to the B.I.R. the related taxes, for speedy
facilitation, I hereby authorize ALSONS
Dev to collect and remit the said
taxes, in accordance with the applicable rules and regulations of the B.I.R. I also acknowledge that I shall
be liable for the penalties, interest and surcharge on the withholding tax due
to my late payment of amortization. And should ALSONS Dev advance
such tax payments ( which may include penalties, surcharge, interests and other
fees that may be charged), I shall pay, in addition to the payments made by ALSONS Dev, an
additional interest to be computed from date of payment until the same is
reimbursed by me, at the prevailing interest rates based on the actual payments
made to the B.I.R.
Upon payment and delivery of the documentary requirements, the
prescribed Contract to Sell, shall be executed. The
Contract to Sell will be:
In the name of : _______________________________
I understood and agreed that this
Reservation is non-transferable and any transfer made by me without the
expressed written approval of ALSONS Dev shall be void and shall cause for cancellation of this Reservation
Agreement and forfeiture of my Reservation Fee and other payments already made.
Processing fees representing
documentary stamps, science stamps, sales tax, notarial
fees and other expenses related to the transfer of title to the name of the
Vendee shall be for the account of the Buyer. Such fees shall be paid not later
than 30 days from the scheduled full payment of account. In case of non-payment
of these fees as required, ALSONS Dev may effect a Unilateral Transfer. And all
other charges including interest and penalties arising from this non-payment
shall be for the account of the Buyer.
Further, I acknowledge that
ALSONS Dev may cause for the cancellation of this Reservation Agreement without further notice
and FORFEIT the Reservation Fee and whatever other payments I have made in the
event that ALSONS Dev suffer damages due to actions solely attributable to me .
In case of increase or
decrease in the actual area, or in the event that the Property is found to be
unavailable for sale to me due to technical reasons or due to a prior sale
commitment or transaction with another party, the same having been offered to
me by mistake or inadvertence, purchase price shall be adjust accordingly, or I
may have the property exchanged with another parcel of land at FERNWOOD of
equal area or value to be agreed by both myself and the Developer, or I may
cancel this Reservation Agreement, and be refunded of all payments I have made,
without interest. Any provision notwithstanding, and before the execution of
the Contract to Sell, the parties agree that each one may request for the
cancellation and rescission of this Reservation Agreement.
Upon
mutual consent of the parties in writing and, by giving written notice of its
intention to do so to the other. The cancellation or rescission shall take effect by returning
what has been received from the other by virtue of this Agreement, without
interest or accounting for the fruits thereof and net of expenses incurred.
I understand that any
representation or warranty made to me by the agent who handled this sale, which
is not embodied herein, shall not be binding unless reduced into writing and
confirmed by ALSONS Dev through its duly authorized representatives. This
agreement states the entire understanding of both parties hereto and any
stipulation, condition, representation or warranty, oral or otherwise not
contained in this Reservation Agreement or incorporated herein by reference
shall not be binding and this Agreement shall not be considered as changed, modified,
altered or in any way attended by acts of tolerance unless such changes,
modifications or amendments are made in writing signed by ALSONS Dev.
_______________________ ________________________
Name of Buyer (Signature over printed Name) With My Marital
Consent
Tel. No. :
Home Address :
TIN# : Approved:
Gov't. ID : Alsons Development and
Date/Place Issued: Investment
Corporation
ERIC D. DE LA COSTA
Marketing & Sales Director
A C K N O W L E D G E M E N T
REPUBLIC OF THE PHILIPPINES )
IN THE CITY OF DAVAO ……… ) S.S.
BEFORE ME, a Notary Public for Davao City
personally appeared __________________________________ who exhibited to me
his/her ________------___________________ issued in __________________ on ______________
known to me to be the same person who executed the foregoing instrument and who
acknowledged to me that the same is his free and voluntary act and deed.
IN WITNESS WHEREOF, I have hereunto affixed my signature and Notarial
Seal in Davao City this ________ day of __________,
200___.
Notary
Public
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of _____.