CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS:
This Contract to Sell is executed by and between:
KMV ASIA DEVELOPMENT CORPORATION, a corporation duly
organized and existing under Philippine law, with business address at Unit 803, 8th
Floor Antel 2000 Corporate Center, Valero Street, Salcedo Village Makati City,
represented herein by its President and Chief Executive Officer, Kaydee Marie O.
Velasco, hereinafter referred to as the “SELLER”;
-and-
ALEJANDRO ACSAY PE, of legal age, Filipino, married to SUSANA
GOSALVEZ-PE, and a resident of 8728 Diamante St. Marcelo Green Village Phase
5, Paranaque City 1700, hereinafter referred to as the “BUYER”;
-WITNESSETH:
WHEREAS, the SELLER is the absolute and registered owner of a certain
condominium unit covered by and particularly described under Condominium
Certificate of Title No. ________, with a total area of 26.33 square meters, more
or less, located at __________________
WHEREAS the BUYER has offered to buy the above-mentioned
condominium unit (herein after referred to as “Property”) and the SELLER is willing
to sell the same to the BUYER;
NOW THEREFORE, for and in consideration of the foregoing premises
and the payment of the purchase price herein after specified, the SELLER agrees to
SELL, ASSIGN, TRANSFER, and CONVEY to the BUYER the said Property,
subject to the following terms and conditions:
1. TOTAL CONTRACT PRICE: The total purchase price is THREE
MILLION ONE HUNDRED FIFTY ONE THOUSAND AND SEVEN
HUNDRED ONE PESOS (PhP3,151,701.00) Philippine Currency, payable to the
SELLER in the manner specified below:
1.1. The sum Twenty Thousand Pesos in Philippine Currency
(PhP 20,000.00) shall be paid to the seller upon the execution of
this contract which serves as deposit or reservation fee.
2. DOWN PAYMENT: The Buyer shall pay the down payment of Six
Hundred Thirty Thousand Three Hundred Forty Pesos and Twenty Centavos
in Philippine Currency (Php 630,340.20) on _________________.
Thereafter, Three Hundred Fifteen Thousand One Hundred
Seventy Pesos and Ten Centavos (Php 315,170.10) shall be paid by the BUYER in
Twenty Four (24) months, consecutive equal monthly installments starting on
_______________ at Thirteen Thousand One Hundred Thirty Two Pesos and
Nine Centavos (Php 13,132.09 ) per month including interest at the rate of Zero (
0%) Percent per annum.
3. BALANCE
The Balance of Two Million Two Hundred Six Thousand and One
Hundred Ninety Pesos and Seventy Centavos (Php2,206,190.70) Philippine
currency shall be paid in full by the BUYER on the 25th month following the
execution of this agreement.
That all payments in favor of the SELLER shall be made by the
BUYER at the address stated above without the necessity of any judicial or extra
judicial demand.
The SELLER will employ no collector and that only official receipt duly
signed by the SELLER or its authorized representative shall be recognized as valid
and binding.
4. 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)
consecutive monthly installments, without provision of any corrective measure within
30 days from notice to that effect, the SELLER 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 SELLER without
prejudice to any appropriate action in court for damages otherwise.
5. WITHDRAWAL
In the event that the BUYER withdraws from this Contract, the
SELLER has the right to forfeit any and all payments made by the BUYER
without necessity of notice.
6. RIGHT OF INSPECTION AND TO DO NECESSARY WORKS:
The BUYER agrees that the Authorized representative of the SELLER
by the 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 of the general interest of the subdivision, the
enforce of rules and regulations of the SELLER.
7. RESTRICTIONS
The sale of the PROPERTY is subject to the following deed of
restriction and such further or additional restrictions and / or easement, servitude
or resolutions as the ASSOCIATON may from time to time adopt:
7.1. The unit shall not be used for illegal or immoral activity which will
disturb the peace or create nuisance in the neighborhood.
8. OWNERSHIP
Ownership over said unit shall remain with the DEVELOPER and
upon complete payment by the BUYER of all obligations herein stipulated, the
SELLER shall execute DEED OF ABSOLUTE 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.
9. REALTY TAX AND ASSESSMENT:
The SELLER 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 the day of such receipt of PTO.
10. EXPENSES OF REGISTRATION:
The BUYER shall pay to the SELLER in the amount of ONE
HUNDRED EIGHTY NINE THOUSAND ONE HUNDRED TWO PESOS
(189,102.00) over and above of the Total Contract Price to cover the cost of
documentary stamps, transfer fees, and notarial fees of the final Deed of Absolute
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 or Bank and/or PAG-IBIG financing. For in-house
financing buyers, the amount may be paid within the agreed payment terms or at the
end of the agreed payment terms.
11. POSSESSION
The SELLER hereby grants possession of the subject property to the
BUYER upon _____________________
12. TRANSFER OF RIGHTS:
The BUYER, prior to the final execution of the Deed of Absolute 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 SELLER
nor lease or sub-lease the same or give possession thereof to any party whomsoever.
13. VENUE:
Should litigation prosper between the parties herein for any claim or
cause of action arising from or by reason of this contract, the EXCLUSIVE court
shall be the appropriate court in Makati City to the exclusion of all other courts.
14. 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.
IN WITNESS WHEREOF, the parties hereto affixed their signatures
this day of __________ at ___________________________________________.
KMVASIA DEVELOPMENT ALEJANDRO ACSAY PE
CORPORATION BUYER
SELLER
By: Spouse:
KAYDEE MARIE VELASCO SUSANA GOSALVEZ-PE
President & CEO
WITNESSES:
LANI P. UBANDO
Sales Manager
KMV Asia Development Corp.
ACKNOWLEDGEMENT
BEFORE ME, a Notary public for and in the City of Makati, this ____th day
of _________, 2019, personally appeared:
ID No. Date/Place of Issue
Kaydee Marie O. Velasco
Alejandro Acsay Pe
known to me to be the same persons who executed the foregoing instrument and they
acknowledged to me that the same is their own free and voluntary act and deed as
well as the free and voluntary act and deed of the corporation herein represented.
This instrument, which refers to a Contract to Sell over one (1) condominium
unit located in Makati City, consisting of five (5) pages including the page on which
this acknowledgment is written, has been signed by the parties and instrumental
witnesses on all pages.
WITNESS MY HAND AND SEAL on the date and at the place first written
above.
NOTARY PUBLIC
Doc. No. ________;
Page No. ________;
Book No. ________;
Series of 2019.
