KISAN LU LANDS AND DEVELOPMENT, INC.

Text Box: Contract No. Lot area ______ Contract Price : Lot No. Block No. Downpayment: Price per sq. m. Php. ________ Reservation : Monthly Amort. ___________ House Model: _______________ Term: ___________________

 

 

 

 

 

CONTRACT TO SELL

 

KNOW ALL MEN BY THESE PRESENTS:

 

                This agreement executed and entered into this _____________________ by and between:

 

                KISAN LU LANDS, INC, a domestic corporation duly organized and existing under Philippine Laws, with office address at KLR Group Bldg., San Pedro Street Davao City, represented by its President and CEO, KRISTIN L. LU, herein referred to as the PACKAGER/DEVELOPER.

 

-AND-

 

Text Box: _______________________________________________________________________________________________________________________________________________________________ herein referred to as the BUYER.

WITNESSETH THAT:

 

                For and in consideration of each of the terms and conditions stipulated hereunder which the BUYER has promised to pay as specified herein, the PACKAGER/DEVELOPER has agreed and contracted to sell to the BUYER (who in return accepted to buy) a House & Lot, referred to herein as the UNIT, covered and embraced by Transfer Certificate of Title  (TCT) No.T- ________ of the Registry of Deeds of Davao City, being a portion of Sitio Ubat, Catalunan Grande, Davao City containing a lot area of    _____________________________________(_______)  SQUARE METERS  more or less.

                

                THE TERMS AND OTHER CONSIDERATIONS of this agreement are as follows:

  1. COST OF THE UNIT:

        TOTAL CONTRACT PRICE:

                               

1.1 Consideration. The BUYER hereby agrees to pay the purchase price of  ______________________________________________________(Php________________) Philippine currency at the office of the Seller at KLR Group Bldg., San Pedro St., Davao City without necessity of demand or the service of a collector.

 

1.2. Reservation & Processing Fees: The buyer shall pay the amount of:   __________________                              

___________________________________(Php. ______________) Philippine Currency as   processing or reservation fee upon execution of this contract.

 

1.3.     DOWN-PAYMENT:  The BUYER shall make a down-payment of  _____________________________________________ (Php _______________ ) Philippine currency which is payable in _____________ (_____) equal monthly installments starting on __________________ at  __________________________________________________ (Php_____________________ ) per installment with no interest.

 

1.4.     Balance. The Balance of ______________________________________________________

_________________________________________________(Php.____________________) Philippine currency shall be paid by the  BUYER in ___________________ ( _________ )  consecutive equal monthly installments starting on _____________________ at ________________________________________________________(Php ______________) per installment including interest at the rate of ___________ ( ______%) PERCENT per annum.

  

That all payments in favor of the PACKAGER/DEVELOPER shall be made by the BUYER to the Packager/Developer at the address stated above without the necessity of any judicial or extra judicial demand.

 

The PACKAGER/DEVELOPER will employ no collector and that only official receipt duly signed by the PACKAGER/DEVELOPER or its authorized representative will be recognized as valid and binding.

 

 

 

 

2.       AUTOMATIC CANCELLATION FOR FAILURE OF THE BUYER TO PAY ANY    MONTHLY INSTALLMENT TOGETHER WITH INTEREST, TAXES AND ASSESSMENT AND/OR VIOLATION OF OTHER TERMS AND CONDITIONS OF THIS AGREEMENT: In the event of default on the part of the BUYER to pay three (3) cumulative monthly installment or violation of any provision without effecting any corrective measure within 30 days from notice to that effect, the PACKAGER/DEVELOPER shall have the right to consider this agreement AUTOMATICALLY CANCELLED and all payments made by the BUYER under this agreement shall be forfeited in favor of the PACKAGER/DEVELOPER without prejudice to any appropriate action in court for damages otherwise.

 

3.       WITHDRAWAL:  In the event that the BUYER withdraws from this Contract, the PACKAGER/DEVELOPER reserves the right to forfeit any and all payments the BUYER may have made without necessity of notice.

 

4.       POSSESSIONS:  Only the BUYER upon compliance of all of the conditions stipulated herein is allowed to enter into and take possession of the unit.

 

5.       RIGHT OF INSPECTION AND TO DO NECESSARY WORKS: The BUYER agrees that the authorized representative of the PACKAGER/DEVELOPER by way of written notice shall have the right to enter the property at anytime for purposes of inspection, measurement, relocation, survey, laying monuments, or of the necessary lines for water, gas, electric power, telephone and other public services to undertake works, of whatever nature and to enforce the rules and regulations of the PACKAGER/DEVELOPER for the general interest of the subdivision.

 

6.       RESTRICTIONS:  The sale of the PROPERTY is subject to the following deed of    restrictions and such further or additional restrictions and / or easement, servitude or   resolutions as the ASSOCIATON may from time to time adopt:

 

    1. The unit shall not be used for illegal or immoral activity which will disturb the peace or create nuisance in the neighborhood.

 

    1. The BUYER must at all times keep his/her unit(s) / lot(s) in a sanitary condition and must be free from overgrowth of cogon, talahib, or other wild vegetation and trash which may become fire hazard, a place of concealment or a nuisance.  Should the BUYER fail to remove said nuisance, the same shall be removed by the PACKAGER/DEVELOPER or the ASSOCIATION, at the expense of the BUYER.

 

    1. Lot(s) shall not be used as access to other subdivisions. Similarly, unless otherwise:

 

The BUYER further agrees to confirm the location of each monument indicating the boundaries of the lot with the PACKAGER/DEVELOPER or with the ASSOCIATION after the SUBDIVISION has been turned-over, before constructing any wall or before erection of additional structure or building on the lot.  Should the BUYER put up a fence or extension without consulting the PACKAGER/DEVELOPER or the ASSOCIATION, as the case may be, and there is encroachment on adjacent lots, or a violation of the National Building Code of the Phil., the BUYER agrees to demolish the structure encroaching on the adjacent lot at his expense within one (1) week from receipt of written notice that there has been an encroachment on the adjacent lot.  Otherwise the PACKAGER/DEVELOPER or the ASSOCIATION, as the case may be, shall be free to have the encroachment demolished, or violation/s rectified at the expense of the BUYER.

 

7.       OWNERSHIP:  Ownership over said unit shall remain with the   PACKAGER/DEVELOPER and upon complete payment by the BUYER of all obligations herein stipulated, the PACKAGER/DEVELOPER shall execute DEED OF SALE in favor of the BUYER and the issuance of the Certificate of Title in his name, free from liens and encumbrances except those as may be provided by law.

 

8.       REALTY TAX AND ASSESSMENT:  The PACKAGER/DEVELOPER agrees to pay the real estate tax and assessment of the unit for as long as the Possession of the unit has not passed to the BUYER.  Provided, however, that if the BUYER has received the permit to Occupy (PTO), he shall be liable for such taxes and assessment effective on the day of such receipt of PTO.

 

9.       EXPENSES OF REGISTRATION:  The BUYER shall pay to the PACKAGER/DEVELOPER the amount of ______________________________________________________ (____________) Pesos over and above of the Package Price to cover the cost of documentary stamps, transfer fees, and notarial fees of the final Deed of Sale, registration fees for such deeds and all other incidental expenses in connection with the issuance of new title over the unit in the name of the BUYER payable immediately for Spot Cash and Bank or Pag-Ibig financing.  Payment schemes for in-house financing buyers, the amount may be paid within the agreed payment terms.

 

 

 

 

 

 

 

10.    TRANSFER OF RIGHTS:  The VENDEE, prior to the final execution of the deed of sale, agrees not to sell, cede, encumber, transfer or in any manner dispose of his/her rights and obligations under this agreement without the written consent of the PACKAGER/DEVELOPER nor lease or sub-lease the same or give possession thereof to any party whomsoever.

 

11.    SEPARABILITY CLAUSE:  The BUYER hereby represents that this entire agreement had been read and/ or translated to him in the language or dialect known and understood by him. Should any provision of this contract be declared by the Court null and void, the nullity shall not affect the validity of this transaction or any provision herein which shall then be considered as valid and binding by both the parties herein.

 

12.    VENUE:  Should litigation prosper between the parties herein for any claim or clause of    action arising from or by reason of this contract, the exclusive court shall be the    appropriate court of Davao City.

 

 

IN WITNESS WHEREOF,      the parties hereto affixed  their signatures this day of __________ at ______________________________________.

 

 

       KISAN LU LANDS, INC.                                   ____________________

PACKAGER/DEVELOPER                                              BUYER

 

   By    :                                                                           

               

                KRISTIN L. LU

               President & CEO                                         

 

WITNESSES:

 

                 _______________________                            ______________________

                                                                                                    Agent/Broker  

                                 

ACKNOWLEDGEMENT

 

Republic of the Philippines)

      City of   Davao   . . .  . . . . ) S.S.

x = = = = = = = = = = = =x

 

                        BEFORE ME, a Notary Public for and in ______________, personally appeared this day of ___________________ at _____________________.

 

                                                                  CTC No.                       Issued On                             Issued at

 

1.                                                                                                                                                ________

2.                                                                                                                                                ________                                                                                                                                                      

 

Known to me to be the same person/s who executed the foregoing instrument and acknowledged to me that the same is their true and voluntary act and deed that of the corporation they represent.

 

        This instrument refers to a Contract to Sell, contains 3 pages including this page wherein the acknowledgement is written and duly signed by the parties and their instrumental witnesses on each and every page hereof.

 

                        WITNESS MY HAND AND SEAL on the day and place first above mentioned.

 

 

Doc. No. ____________

Page No. ____________

Book No.____________

Series of 200_____.