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WHEREAS, the grantee desires to use Lot No. ____ Blk. ___ covered under
TCT No. ______ and to construct therein a house under Model no. ___.
WHEREAS, the project owner accepts the offer of the grantee for a
consideration herein below agreed upon.
The project owner hereby grants unto the grantee perpetual right to use
Lot ____, Blk No. ____ of Fonte Di Versailles. This right to use includes
the right to construct therein a residential house on the agreed
specification. For purposes of the specifications, Attached as Annex “A”
is the model of the house to be constructed by the project owner.
2. OWNERSHIP OF THE HOUSE
As soon as the construction of the house has been turned over by the
project owner, the tax declaration shall be in the name of the grantee.
3. OPTION TO CONVERT THE RIGHT TO USE WITH RIGHT OF
OWNERSHIP
In the event that the grantee opts to have Lot No. ___, Blk. No. _____ to
be owned by another person thereby effectively terminating the right to
use, the project owner, at the instance of the grantee shall execute a
deed of conveyance so that the right to use can be changed to right of
ownership wherein it includes the right to use the same lot mentioned.
4. MODEL HOUSE TO BE CONSTRUCTED
The GRANTEE engages the project owner to construct the house on Lot
No. ___, Blk. No. ____ for a consideration payable on the terms below
agreed upon. The specifications of the model house is provided in the
Annex Specification duly signed by the parties.
It is understood that completion of the house constructed carries with it
the master deed of restriction on the coral bay project which shall
constitute as forming part and parcel of this agreement. The deed of
restriction is hereto attached as Annex “B” hereof forming integral part of
this agreement.
5. TOTAL CONSIDERATION:
That the consideration of this Agreement involving the grant of the right
to use with construction of the house shall be the sum
of_____________________________________(P________), Philippine
Currency payable as follows:
5.1 A non – refundable reservation fee in the amount of
_________________________________(P____________), Philippine
Currency, is hereby acknowledge to have been received by the
SELLER and shall be form part of the total contract price upon signing
the Reservation Agreement.
5.2 The balance of the total consideration shall be under either of the
following arrangements:
5.2.1 On spot cash Basis, the balance of the consideration shall
be paid in full within ____________( ) days from the date of
payment of the Reservation Fee, plus the necessary expenses
6. CONSTRUCTION SCHEDULE:
The project owner shall endeavor to complete the Unit and deliver the
same to the Grantee not later than ___________months.
By:
____________________ _____________________