THE LAKESHORE
RESIDENTIAL, BUSINESS & LEISURE COMMUNITY
Contract No.
Lot No.
Block No.
Phase No.
Area
Lot Type
___________________
___________________
___________________
___________________
___________________
___________________
Price/sq.m
Contract Price
Discount
Net Contract Price
P ___________________
P ___________________
P ___________________
P ___________________
DEED OF ABSOLUTE SALE
KNOW ALL MEN BY THESE PRESENTS:
This Contract made and executed by and between:
CENTRAL COUNTRY ESTATE, INC., a corporation duly organized and existing under and by
virtue of the laws of the Republic of the Philippines, with office address at Unit 3 Corporate
House, 239 Santolan Road corner C. Benitez Street, Quezon City, in this act represented by its
__________________, _______________________________, (hereinafter referred to as the
“SELLER”);
-
and
-
(hereinafter referred to as the “PURCHASER”)
WITNESSETH: That
The SELLER is the owner and developer of a certain land development and subdivision project located at
Barangay San Rafael, Divisoria and Nueva Victoria, Mexico, Pampanga known as “The Lakeshore Residential,
Business & Leisure Community” (hereinafter referred to as “THE LAKESHORE”) including a certain lot within The
Lakeshore that is more particularly described in Section 1.1 below (hereinafter referred to as the “Lot”)
The SELLER has agreed to sell, transfer and convey to the PURCHASER, and the PURCHASER has
agreed to purchase and acquire from the SELLER, the Lot.
NOW, THEREFORE, for and in consideration of the above premises, the SELLER hereby sells, transfers
and conveys unto the PURCHASER, and the PURCHASER hereby purchases and acquires from the SELLER, the Lot
under the following terms and conditions:
Section 1. THE LOT
1.1 The Lot is currently identified as Lot No. ____________; Block No. ______________; Phase No. ____________
Subd. _________________ of The Lakeshore and has an area of __________________ square meters, more or
less, and covered by Transfer Certificate of Title No. _____________________ of the Registry of Deeds of
Pampanga. Based on the final, actual approved and official relocation survey and subdivision plan, the SELLER
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1.2
1.3
1.4
1.5
shall formally notify the PURCHASER in writing of the final official identification, description and areas of the Lot.
Any discrepancy or adjustment in the area, shape and boundaries or description of the Lot shall not result in the
cancellation of this Contract, but such discrepancy or adjustment in the area shall result in a proportionate
adjustment in the Purchase Price (as hereinafter defined) based on the price per square meter of the Lot and the
SELLER shall notify the PURCHASER of any such adjustment.
The Lot is located within a ___________________ Zone of THE LAKESHORE and shall be exclusively used and
devoted for the purpose(s) and in the manner specified or allowed in this Contract, the Deed of the Restrictions and
Conditions of Sale and Design Standards and construction Guidelines for THE LAKESHORE.
Whenever the Government of any of its instrumentalities empowered by law shall cause or authorize an amendment
of the subdivision plans, appropriate adjustment shall accordingly be made with the view of having the lot areas in
or the original plan conform to the amendment. In such an event, there shall be no change in the rights and
obligations of the Parties under this Contract, the Deed of Restrictions and Conditions of Sale and the Design
Standards and Construction Guidelines, except only that caused by the amendment or the adjustment in the area of
the Lot and proportionate increase or decrease in the Purchase Price computed at the same price per unit square
meter. Provided, that in case of increase in area of the Lot to the extent of not more than ten percent (10%) of the
area, the PURCHASER agrees to pay for the additional area based on the price per square meter of the Lot. If the
increase is more than 10%, the PURCHASER agrees to pay for the area over the ten percent (10%) based on the
current market price per square meter. In case of decrease in area, the PARTIES agree to re-compute the
Purchase Price based on the price per square meter of the Lot and the SELLER agrees to return to the
PURCHASER any amount it has received under this Contract in excess of the recomputed Purchase Price. In the
event of remapping imposed by the Lands Management Section or any other appropriate government entity or in
case of any re-alignment, re-subdivision or re-planning for whatever reason that causes the re-arrangement of the
location, shape and size of lots and road lots of THE LAKESHORE, including the lot, or that results in the
disappearance of the Lot, the PURCHASER hereby agrees to be transferred to another suitable or substitute lot, if
necessary, and that such re-arrangement of the location, size and shape of lots and road lots, including the Lot,
shall not affect the validity of this Contract and in case of the disappearance and substitution of the Lot, this
Contract shall be deemed to have been amended accordingly by replacing the Lot with the substitute lot in the same
vicinity and of the same area, more or less. However, if the change consists only in the renumbering of the phases,
lots and blocks, without any change in the location of the Lot(s), PURCHASER shall have no rights for a transfer to
another lot.
If at any time before the transfer of possession of the Lot by the SELLER to the PURCHASER in accordance with
Section 4.1, the government or its local government units, instrumentalities and public corporations, shall condemn
or expropriate the Lot or a portion thereof, the PURCHASER’s obligations under this Contract, shall not be affected,
as the PURCHASER shall bear the consequence of such expropriation. This notwithstanding, the SELLER shall
have the authority, as it is hereby given special power, to deal, accept and waive notice, negotiate, receive and
apply in accordance with the terms of this Contract the proceeds of such expropriation or resist such expropriation
of the condemning authority on behalf of the PURCHASER. It is hereby understood that the proceeds realized from
said expropriation shall accrue to the PURCHASER, provided all amounts due to SELLER under this Contract, the
Deed of Restrictions, Conditions of Sale and the Design Standard and Construction Guidelines shall have been paid
in full. Otherwise, the SELLER may apply the said proceeds in payment of whatever outstanding balance on the
account of the PURCHASER.
The SELLER reserves the right at any time before the final completion of THE LAKESHORE, and the
PURCHASER hereby agrees and gives upon the SELLER such necessary authority and approval, to make any
such alteration, repair, addition or omission on THE LAKESHORE as the SELLER may deem necessary, and said
alteration, repair, addition or omission shall in no way affect or render void this Contract, subject only to the
condition that such alteration, repair, addition or omission will not adversely affect the overall quality or value of THE
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LAKESHORE and the Lot, and should the area of the lot be affected, the provision of Section 1.1 on discrepancy or
adjustment in the area shall apply.
Section 2. THE PURCHASE PRICE
2.1 For and in consideration of the amount of PESOS:____________________________________________________
______________________________________________ (P ___________________) per square meter, or an
aggregate amount of PESOS: ____________________________________________________________________
(P __________________), (hereinafter referred to as the “Purchase Price”), which is computed on a per square
meter basis and receipt of which amount is hereby acknowledged by the SELLER, the SELLER hereby sells,
transfers and conveys to the PURCHASER, and the PURCHASER hereby purchases and acquires from the
SELLER, any and all of the rights, title and interests of the SELLER in and to the Lot.
Section 3. TAXES, COST AND EXPENSES
3.1 The PURCHASER shall be responsible, and agrees to pay within the period specified by law, the following:
3.1.1 Real estate taxes and special and other assessment(s) levied or accruing or which may hereafter
accrue or be levied on the Lot or the use or occupancy thereof, (including any surcharges or
penalties), starting the month following the transfer of possession (actual or constructive), occupancy
or use of the Lot by the SELLER to the PURCHASER.
3.1.2 Documentary stamps and transfer taxes as well as registration, notarial and all processing fees and
other costs and expenses on the execution and registration of this Contract and/or any other related
agreements of the Parties, including any surcharges or penalties thereon.
3.1.3 The appropriate Expanded Withholding Tax (hereinafter referred to as “EWT”) based on the Purchase
Price. Provided, however that the Parties agree that this payment of EWT by the PURCHASER is
really for the account of and is just an advance for and shall be reimbursed to the PURCHASER by the
SELLER. The Parties further agree that any EWT over and above that which is computed on the basis
of the Purchase Price shall solely be for the account of the PURCHASER.
3.1.4 Storage fee of PESOS: TWENTY (P 20.00) per day should the PURCHASER fail to secure from the
SELLER at the place designated by SELLER in and within a period of one (1) month from date of
receipt of notice from SELLER, the release of this Contract, the Transfer Certificate of Title and all
other documents necessary for the registration of this Contract and the Transfer Certificate of Title to
the name of the PURCHASER. The Parties agree that such delay by the PURCHASER to secure the
release of such documents shall render the SELLER free and harmless from any accountability arising
from additional or increase in taxes or any other governmental fees including any and all damages
resulting thereon, for which the PURCHASER shall solely be responsible. By agreement of the Parties
and upon payment by the PURCHASER of appropriate and reasonable fees, the SELLER may
undertake the registration of this Contract.
3.1.5 Other miscellaneous fees and expenses such as water service connection, surveyor’s verification
survey, location plan, maintenance and security fees, construction permit fees (including building and
fencing permits), Association Dues (as hereinafter defined) and other assessments and the likes.
3.2 In addition, the PURCHASER agrees to pay corresponding cost and processing fees for any of the following:
3.2.1 true copy of the lost Contract and passbook;
3.2.2 amendment of the Contract upon the instance of the SELLER;
3.2.3 transfer of rights over Lot of under this Contract, subject to the provisions of this Contract; and
3.2.4 issuance of construction, building or fencing permits and the likes.
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Section 4. CONSTRUCTION SCHEDULES AND TRANFER OF TITLE AND POSSESSION
4.1 Notwithstanding any prior authorized, unauthorized or tolerated entry of the PURCHASER into the Lot for whatever
purpose or in whatever nature and manner, the SELLER shall transfer to the PURCHASER physical and legal
possession of the Lot upon completion of THE LAKESHORE, the subdivision of the parcel of land of which the Lot
forms a part and the issuance of a separate Transfer Certificate of Title covering the Lot, and provided the
PURCHASER is not in breach or violation of any provision of this Contract, the Deed of Restriction and Conditions
of Sale and the Design Standards and Construction Guidelines.
4.2 Where the PURCHASER has been expressly allowed lawful entry to or possession of the Lot subject to this
Contract and such other terms and conditions as may be agreed by the Parties prior to the transfer of possession
referred to in Section 4.1, the PURCHASER may remain in possession of the Lot for as long as the PURCHASER is
not in default or breach of any of the PURCHASER’s obligations in this Contract, the Deed of Restrictions and
Conditions of Sale and the Design Standard and Construction Guideline. Upon such default or breach by the
PURCHASER, the SELLER shall consider the PURCHASER a tenant, holding the Lot without permission and the
PURCHASER must turn over the Lot within five (5) days from receipt of notice from the SELLER, otherwise the
PURCHASER shall be subject to ejectment, without prejudice to other remedies available to the SELLER under this
Contract, any other contract, law and equity.
4.3 The SELLER hereby retains all rights, title ownership and interest over any creek, dry creek, body of flowing water
and/or such similar areas adjacent to or adjoining the Lot, including the right to quiet title thereto and/or claim said
area. Accordingly, the PURCHASER hereby acknowledges that the SELLER has title, ownership, interest and/or
the exclusive right to quiet title and/or claim the creek, dry creek, body of flowing water and/or any such similar
areas adjacent or adjoining the Lot, and further acknowledges that this Contract does not confer upon the
PURCHASER any rights to claim said adjacent adjoining area above-mentioned.
Section 5. HOMEOWNERS’ ASSOCIATION
5.1 The PURCHASER shall upon execution of this Contract or upon the incorporation of the Homeowners’ Association
of THE LAKESHORE (the “ASSOCIATION”). Whichever comes later, automatically become a member of the
Association, which shall be tasked with and be responsible for, among others, the maintenance of the common
areas, facilities and services (including security and traffic management) for the residents of THE LAKESHORE or
members of the Association and which shall act as the agent of the SELLER in the enforcement of the Deed of
Restrictions and Conditions of Sale and Design Standards and Construction Guidelines and in the approval of
plans, specifications, and issuance of necessary permits within THE LAKESHORE.
Section 6. RESTRICTIONS AND GENERAL CONSTRUCTION GUIDELINES
6.1 The Lot and the use thereof, including any construction, improvement, development and redevelopment thereon or
thereof, or any rights, title and interest in and to the Lot, are subject to this Contract, the Deed of Restrictions and
Conditions of Sale and Design Standards and Construction Guidelines which are made integral parts hereof and
shall be annotated at the back of the Transfer Certificate of Title covering the Lot. The lifetime of these restrictions
contained in the foregoing instruments shall be thirty (30) years from the execution of this Contract. The Board of
Trustees of the Association (hereinafter referred to as “Board of Trustees”) may extend the validity thereof upon
consultation with the members of the Association and by unanimous vote of the member of the Board of Trustees.
The Lot and the use thereof, including any construction, improvement, development and redevelopment thereon or
thereof, and the rights, title and interests in and to the Lot, shall also be subject to such other easements and
restrictions of record, zoning regulations or such other regulations as may be imposed by appropriate governmental
authorities and regulators having jurisdiction thereon, and rules and regulations as may be reasonably adopted by
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the Association upon prior consultation with the members of the Association and the unanimous vote of the
members of its Board of Trustees.
6.2 The PURCHASER shall solely be responsible for filling or constructing any improvement on the Lot which may be
required by the topography of the Lot, or by the government or other competent authorities, and in case the
SELLER is compelled to make such filling or improvements by reason of the inability of the PURCHASER to comply
with such requirement(s), the latter shall reimburse the SELLER the cost and expenses thereby incurred by the
SELLER by paying an initial payment of 50% of the total cost and the balance in twelve (12) equal and consecutive
monthly installments within a period of one (1) year from the date of notice from the SELLER, plus interest at the
rate of 23% per annum on the unpaid balance; Provided, that no discount shall be due on such cost and expenses.
Provided also that such costs and expenses shall constitute a lien on the Lot until the same is paid. Provided also,
that should this Contract be cancelled or terminated for failure of the PURCHASER to comply with any of the terms
and conditions contained in this Contract, the Deed of Restriction and Conditions of Sale and the Design Standard
and Construction Guidelines, the filling or any other improvements made, whether totally or partially paid by the
PURCHASER, shall form part of and be attached to the Lot, and shall become the property of the SELLER, without
any obligation on the part of the latter to indemnify the PURCHASER for the cost of the same.
6.3 The PURCHASER agrees to start the construction of a residential house on the Lot, if the same is within the
Residential Zone of The Lakeshore, or any other improvement as may be allowed by the Deed of Restrictions and
Conditions of Sale and the Design Standards and Construction Guidelines, not later than twelve (12) months from
the turnover of possession of the Lot for such purpose to the PURCHASER in accordance with this Contract, the
Deed of Restrictions and Conditions of Sale, Design Standards and Construction Guidelines and easements
imposed on the Lot and in accordance with the building and development plans and specifications priorly approved
by the SELLER. The PURCHASER, before commencing and filling, construction work or improvements on the Lot,
must first secure necessary approvals and permits from the SELLER or the Association, as the case may be, for
such filling, construction or improvement, including but not limited to the issuance of filling, construction or fencing
permit and the prior submission and approval of the building and development plans and specifications that shall be
in accordance with the Deed of Restrictions and Conditions of Sale, the Design and Construction Guidelines, zoning
and other regulations. Failure on the part of the PURCHASER to do any of the foregoing gives the SELLER the right
to repurchase the Lot by reimbursing PURCHASER the amount of the Purchase Price that has been paid less any
other amount the PURCHASER shall have paid by reason of or under this Contract. Construction of the residential
house or any other improvement allowed by the Deed of Restrictions and Conditions of Sale and Design Standards
and Construction Guidelines shall be in accordance with such Deed of Restrictions and Conditions of Sale and
Design Standards and Construction Guidelines, and with the building and development plans and specifications
priorly approved by the SELLER. In making any filling, construction or improvement on the Lot, the PURCHASER
shall be accountable for all damages caused to the common areas and facilities of THE LAKESHORE and to
adjoining and adjacent properties arising from such filling, construction or improvements making. For this purpose,
the PURCHASER shall, upon submission of the building and development plans, and specification to the SELLER,
deposit or secure a construction bond in favor of the SELLER or Association or adjoining or adjacent property
owners in such reasonable amount as shall be prescribed by the SELLER or Association, as the case may be, as
may be necessary and sufficient to guarantee the cost of repairing any damage caused to the facilities and common
areas of THE LAKESHORE the adjoining or adjacent properties, as well as cost of cleaning and maintaining the
cleanliness of the area of vicinity. The construction bond shall be returned to the PURCHASER less the amounts
necessary to cover the costs incurred hereunder, if any, upon the completion of the building or other allowed
improvement in accordance with the building and development plans and specifications priorly approved by the
SELLER. Provided, that nothing herein shall be construed as giving the owners of such adjacent or adjoining
properties a cause of action or any right in law, contracts or equity against the SELLER or the Association with
respect to any of the foregoing. Provided, further, that the SELLER or Association may, at its sole option, utilize the
proceeds of the construction bond to restore or repair any damaged facilities, common areas or properties to the
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state before such damage thereof, provide that in case of damage to other properties, the approval of the owner
thereof is timely given in writing to the SELLER by such owner.
6.4 Within six (6) months from the execution of this Contract or the turnover of the possession of the Lot to the
PURCHASER, whichever comes later, the PURCHASER shall pay for and cause a surveyor’s verification of the Lot
for the purpose of determining or verifying the meter and bounds and area thereof based on actual ground surveys
in relation to the notice from the SELLER with respect to the final and official identification description and areas of
the Lot. In the event the PURCHASER fails to comply with this obligation, the SELLER shall not be answerable for
any decrease or deficiency in the area of the Lot due to remapping and/or other causes. In case the area of the Lot
increases, it is understood that the PURCHASER accepts said increase and shall pay for the corresponding price
thereof in accordance with this Contract.
Section 7. ACCESS AND ENTRY INTO THE LOT AND USE OF ROADS AND SIMILAR ACCESS
7.1 The PURCHASER hereby agrees that the representative of the SELLER or Association or any public service or
utility company or any legitimate entity involved in providing common facilities and services to THE LAKESHORE or
the residents thereof, shall have the right to enter the Lot at any reasonable time of the day for the purpose of
inspection, measurement, verification, survey, relocation, laying of monuments or of necessary lines for water, gas,
electrical power, telephone and other public services or for any other purpose related or incidental to the foregoing
to undertake works of whatever nature for the general interest of the subdivision, and enforce the rules and
regulations of the SELLER and the Association, and any inconvenience or disturbance thus cause shall not be a
ground for the rescission of this Contract or an action for damages. Provided, that where it is possible and
practicable, a prior written notice at least one (1) day shall be given to the PURCHASER.
7.2 For purpose of determining compliance with the Deed of restrictions and Conditions of Sale and the Design
Standard and Construction Guidelines and the approved building and development plans and specifications of the
PURCHASER’s on-going filling, construction or improvement, completed structure or other such pertinent activities,
the authorized representatives of the SELLER or the Association shall have the right to enter the Lot at any
reasonable time of the day to conduct inspection or any other activity related to or inherent in their functions as
specified in this Contract, the Deed of Restrictions and Conditions of Sale and the Design Standard and
Construction Guidelines.
7.3 The Parties hereby agree that the roads or any access in THE LAKESHORE are made available only to the
PURCHASER and members of his family or his lessees and guests who shall all utilize and make use of the Lot so
acquired for residential purposes or as may be allowed by the Deed of Restrictions and Conditions of Sale and the
Design Standards and Construction Guidelines, and not otherwise to gain entrance and/or exit from THE
LAKESHORE in such manner that the PURCHASER shall create a right-of-way or access through the roads of THE
LAKESHORE or to have access to the properties or developments within, beyond, adjacent or adjoining THE
LAKESHORE. Should the PURCHASER be found to have purposely purchased the Lot to gain access to properties
within, beyond, adjacent or adjoining THE LAKESHORE, be it belonging to said PURCHASER or other persons,
the SELLER shall have the right to cancel or rescind this Contract ex-parte by serving a written notice to such an
end to the PURCHASER, without need of court order. In such an event, the SELLER may compel the PURCHASER
to re-convey title over the Lot subject to reimbursement to PURCHASER of the Purchase Price less 50% thereof
which shall remain with the SELLER as penalty for such violation of this Contract.
Section 8. ASSIGNMENT AND TRANSFER OF RIGHTS OF LOT
8.1 The PURCHASER agrees not to sell, encumber, transfer or in any other manner dispose of his rights, interest and
obligations in and under this Contract to any person or entity without the prior written consent of the SELLER, which
consent shall not be unreasonably withheld, and upon payment of the required transfer fees. Any such sale,
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cession, encumbrance, transfer, assignment or any other manner of disposition in violation of this Contract shall be
deemed ipso facto void, without prejudice to the right of the SELLER to consider the PURCHASER in default under
this Contract.
8.2 Upon written notice to and consent of the PURCHASER, which consent is hereby expressly given the SELLER may
sell, assign or transfer this Contract or the Lot and all rights or obligations arising by virtue thereof to any third
person, provided that such purchaser, assignee or transferee shall be bound by the terms and conditions of this
Contract and the submissions of the SELLER to appropriate government agencies and regulators.
Section 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SELLER
9.1 The SELLER us the true and lawful owner of the Lot and that the SELLER has the right to sell, transfer and
otherwise convey the Lot and to vest ownership thereof to the PURCHASER.
9.2 The titles, rights, ownership and interest conveyed to the PURCHASER shall be free from all liens and
encumbrances except ___________________________________________ and those which may be provided by
law, this Contract, the Deed of Restrictions and Conditions of Sale, the Design Standards and Construction
Guidelines, easement and restrictions of record, zoning regulations or such other restrictions on the use of the Lot
as may be imposed by government and other authorities having jurisdiction thereon, and such other restrictions and
easements of record, and such rules and regulations as may be reasonably adopted by the Association.
9.3 The SELLER projects to complete THE LAKESHORE within the schedule(s) submitted to the appropriate
government agency or regulator and any extension thereof, unless prevented by adverse economic conditions or
force majeure, which include, but is not limited to, the following events to which neither party has any direct control,
participation or negligence: any act of God or nature, fire earthquake seismic disturbance, act of war (whether or not
declared), act or omission of any court government agency, act of public enemies of the Republic of the Philippines,
sabotage, rebellion, revolution, civil commotion, strike, boycott, concerted mass or labor action, devaluation or
depreciation by fifty percent (50%) in the purchasing power of the Philippine Peso based on the price index issued
by the Bangko Sentral ng Pilipinas within the construction schedule of THE LAKESHORE, abnormal increase in the
price of fuel or oil based on the cost thereof as of November 2000, abnormal increase in the US Dollar-Philippine
Pesos exchange rate based on the exchange rate of US$1.00=P48.50, abnormal increase in interest rates based
on a rate of 14% p.a., increase by at least thirty percent (30%) in the cost of labor and construction supplies and
materials, including cost of services and acquisition or lease of necessary machineries and equipment, based on
the ______________, 20__ prices of the same or any other reason, condition events or cause which is unforeseen
or beyond the reasonable control of the SELLER. Provided, that should any of the foregoing cause or result in the
delay in the completion of THE LAKESHORE or in the committed turnover of the, the SELLER shall be entitled to
such additions period(s) of time sufficient to enable the SELLER to complete THE LAKESHORE or turnover the Lot.
Provided, further, that should any condition or cause beyond the control of the SELLER arise that, in the reasonable
determination of the SELLER, renders the completion of THE LAKESHORE no longer possible, then the SELLER
shall be relieved of any obligation arising out or in connection with this Contract or any other contract for the Lot
between the Parties, except to reimburse the PURCHASER, without interest, the Purchase Price. In all events, all
construction and improvement on the Lot or THE LAKESHORE shall remain the property of the SELLER in
accordance with this Contract. Provided, finally, that the PURCHASER agree and accepts that in the event of the
failure of the SELLER to complete THE LAKESHORE within the aforesaid schedule or extension thereof due to the
fault or negligence of the SELLER, the SELLER shall have no liability whatsoever to the PURCHASER for such
non-completion except to reimburse to the PURCHASER the payment of the Purchase Price together with the
interest thereon at the rate of the ninety (90) day Treasury Bill or the legal rate of interest, whichever is higher,
prevailing at the time of such reimbursement computed from the date of this Contract up to the date of
reimbursement of such amount to the PURCHASER.
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Section 10. REPRESENTATION, WARRANTIES AND COVENANTS OF THE PURCHASER
10.1 That the PURCHASER hereby makes manifest and represents that the PURCHASER has actually inspected and
thoroughly checked the Lot and THE LAKESHORE and that the PURCHASER has found the same to be
satisfactory and that the PURCHASER has found no squatters or illegal occupants thereon and any other physical
encumbrance or adverse possession.
10.2 The PURCHASER further agrees not to take soil, filling materials or any other matter from the Lot or in any portion
of THE LAKESHORE, nor undertake any works inimical to the general interest of THE LAKESHORE, the SELLER
or the Association.
10.3 The PURCHASER has purchase the Lot based upon the PURCHASER’s own evaluation of the land records and
available geotechnical information whether obtained from the SELLER and/or government sources or otherwise
and has ascertained the state and condition of the Lot in relation to the purpose(s) for which the Lot is to be
developed or redeveloped and PURCHASER shall not be entitled to revoke, cancel or withdraw in anyway
whatsoever from this Contract, or be entitled to any compensation or reduction in the Purchase Price, or be entitled
to any other compromise whatsoever should the PURCHASER subsequently determine that the Lot or The
Lakeshore is not fit for the purpose(s) for which the PURCHASER purchased the Lot.
10.4 The PURCHASER shall indemnify and hold the SELLER free and harmless from all actions, proceedings,
liabilities, demands, costs, expenses and any other claims whatsoever arising from any damage caused to
adjacent or adjoining land where such damage has arisen out of any development or redevelopment or any other
works by the PURCHASER or its contractors or workers or for the PURCHASER’s account, whether voluntarily
made or undertaken in compliance with this Contract, the Deed of Restrictions and Conditions of Sale, Design
Standards and Construction guidelines and such other rules and regulations or requirement of any government
agency or regulator or the Association.
10.5 The PURCHASER has the capacity, financial and otherwise, to faithfully and completely comply with the
obligations of the PURCHASER under this Contract, the Deed of Restrictions and Conditions of Sale, Design
standards and Construction Guidelines and such other rules and regulations or requirements of any government
agency or regulator or the Association.
10.6 The PURCHASER has good moral character and reputation.
10.7 The PURCHASER shall, in case the Lot is subsequently sold, transferred, exchanged, donated, lent, leased, or in
any manner conveyed to, or occupied by another person or entity or encumbered in accordance with this Contract,
the Deed of Restrictions and Conditions of Sale, Design Standards and Construction Guidelines and such other
rules and regulations or requirements of any government agency or regulator or the Association, in all instance
subject to the prior approval of the SELLER, the PURCHASER shall provide in the pertinent deed of sale,
exchange, transfer, donations, lease, encumbrance, conveyance or occupancy, that the buyer, transferee, donee,
lessee, encumbrancee, or occupant shall abide by this Contract, the Deed of Restrictions and Conditions of Sale,
Design Standards and Construction Guidelines and such other rules and regulations or requirement of any
government agency, regulator or the Association.
10.8 The PURCHASER hereby represents that this Contract, the Deed of Restrictions and Conditions of Sale, Design
Standards and Construction Guidelines had been read and/or translated to him/her/its representative in the
language or dialect known and understood by him/her/such representative.
10.9 The PURCHASER is aware that the land development works and/or improvements are actually being undertaken
or in the future may be undertaken by the SELLER in THE LAKESHORE. The PURCHASER hereby holds the
SELLER, its employees, agents, representatives, successors and assignees free and harmless from any liability
and/or damage caused by the inconvenience, discomfort, disturbance and/or nuisance to the BUYER, its
employees, agents, representatives, successors and assignees by said development works and/or improvements.
Section 11. DEFAULT, BREACH OR DELAY BY THE PURCHASER
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11.1 Should this Contract be cancelled or the Lot re-purchase or re-sold by the SELLER in accordance with this
Contract, the Deed of Restrictions and Conditions of Sale, Design Standards and Construction Guidelines, Articles
of Incorporation and By-Laws and Rules and Regulations of the Association, the PURCHASER shall surrender to
the SELLER possession of the Lot, including all improvements existing thereon, within five (5) days from notice
from the SELLER. In case of PURCHASER’s failure to surrender possession of the Lot, the SELLER may re-enter
the Lot and eject therefrom the PURCHASER or those claiming right or title under the PURCHASER. The
PURCHASER, shall within the said period and at the PURCHASER’s own expense, all movables, otherwise the
same shall form part of and be considered attached to the Lot, and shall become the property of the SELLER
without any obligation on the part of the SELLER to reimburse or indemnify the PURCHASER for the cost or value
thereof.
Section 12. GENERAL PROVISIONS
12.1 It is understood that the obligations of the PURCHASER under this Contract (whether or not involving money,
remedies or penalties against the PURCHASER) shall not limit or exclude any obligation of, remedies or penalties
against the PURCHASER under the Deed of Restrictions and Conditions of Sale, Design Standards and
Construction Guidelines, Articles of Incorporation and By-Laws and Rules and Regulations of the Association.
Moreover, the foregoing shall be in addition to other remedies in law and equity.
12.2 If there are two or more purchasers under this contract, the obligations mentioned herein are deemed contracted
by such purchasers in their joint and solidary capacities.
12.3 Should the SELLER resort to the courts of justice or any administrative body in order to enforce the provisions of
this Contract or for the protection of its rights or redress of its grievances under this Contract, the PURCHASER
agrees to pay the SELLER, by way of attorney’s fees, a reasonable sum, which in no case shall be less than
FIFTY THOUSAND PESOS (P50,000.00). If the case is in the Metropolitan/Municipal Trial Courts or the Housing
and Land Use Regulatory Board (HLURB); an additional TWENTY THOUSAND PESOS (P20,000.00). If it is in or
reaches the Regional Trial Courts, and a further sum of THIRTY THOUSAND PESOS (P30,000.00). If it reaches
any of the Apellate Courts and the Supreme Court, and in addition, the costs and expenses of litigation and the
damages, actual or consequential, to which the SELLER may be entitled by law.
12.4 All notices and correspondences of any nature sent to the PURCHASER at the above address by registered mail
shall bind him/her/it, regardless of actual receipt, unless written notice of change or amendment of address has
been formally received by the SELLER or registered mail to it at its address given above or in any notice to the
PURCHASER.
12.5 In case of loss of PURCHASER’s copy of this Contract and the passbook covering payments, the PURCHASER
must immediately notify the SELLER in writing. The SELLER shall not in any way be liable for damages arising out
of the use of the lost Contract or passbook.
12.6 This Contract sets forth the entire agreement between the Parties and cancels and superseded all previous
understandings, contracts, agreements, representations, and warranties, including any Reservation Applications, if
any, between Parties. This shall not be considered as having been changed, modified, altered or in any manner
amended by acts of tolerance of the SELLER or PURCHASER, unless such changes, modifications, alterations or
amendments are made in writing and signed by both Parties. Any representation of warranties promises, and other
representations which the agents, broker or any other person who may have handled this sale to the PURCHASER
shall not be valid, unless the same have been written and duly approved by the SELLER or integrated in this
Contract.
12.7 Should any provisions of this Contract be declared by any court or appropriate government agency or regulators as
null and void or ineffective, the nullity of ineffectiveness therefore shall not affect the validity of the sale transaction
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subject of this Contract or any other provisions of the Contract which shall remain as valid and binding between the
Parties.
12.8 The undertakings and obligations of the PURCHASER as specified in this Contract shall in each and every case
survive the full payment of all amounts due under this Contract. This Contract shall also be binding on the heirs
and successors-in-interest of the PURCHASER.
12.9 This Contract and the rights and obligations of the Parties under this Contract shall be governed by and construed
in accordance with the laws of the Republic of the Philippines. The Parties hereby irrevocably agree that any legal
action or proceeding arising out of or relating to this Contract shall be brought at the proper time exclusively to the
proper courts of Quezon City, Philippines. By the execution and delivery of this Contract, the PURCHASER hereby
irrevocably submits, with regard to any such action or generally and unconditionally and irrevocably, to the
jurisdiction of the aforementioned courts.
12.10 Any and all notices, letter and/or communication to the PURCHASER pertaining to this Contract shall be sent
either by personal delivery or by postage prepaid registered mail to the PURCHASER’s above given address. Any
such notice, letters or communications shall be deemed to have been duly delivered and received by the
PURCHASER as of the date of receipt if delivered personally, or the date seven (7) days after posting if
transmitted by mail.
12.11 The failure of either party to exercise any remedy herein specified at the time of any default or breach or delay by
either party shall not operate as a waiver of the right of either party to exercise such remedy for the same or any
subsequently default or breach by either party at any time thereafter.
IN WITNESS WHEREOF, the PURCHASER has caused his/her/its signature to be affixed to this contract, and the
SELLER has caused its duly authorized representative to sign in its behalf, this _________ day of
________________ 20____ at ___________________________________________________, Philippines.
CENTRAL COUNTRY ESTATE, INC.
(Seller)
_________________________________
(Purchaser/s)
By:
With my Marital Consent:
___________________________________
_________________________________
SIGNED IN THE PRESENCE OF:
___________________________________
_________________________________
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES
)
) S.S.
Page 10 of 11
BEFORE ME, a Notary Public for and in the above jurisdiction, this _________________________
20____, personally appeared:
Name
Valid Gov’t. Identification
Issued on / Expires on
Known to me to be the same person/s who executed the foregoing Deed of Absolute Sale over a lot/s in THE
LAKESHORE which is covered by the Transfer Certificate of Title/s __________________________________ or which
has still to be segregated from Transfer Certificate of Titles _______________________, and who acknowledged to me
that the same is/are their own free and voluntary act and deed as well as of the corporation(s) herein represented.
This Deed of Absolute Sale consisting of _____________ (_____) pages, including this page whereon
this acknowledgment is written, has been signed/initialed by the parties and their instrumental witnesses on each and
every page hereof.
WITNESS MY HAND AND SEAL on the date and place above written.
Doc. No. __________;
Page No.__________;
Book No.__________;
Series of 20 ____
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