RESERVATION APPLICATION AND AGREEMENT

Date of Application: _______________________

I/We, _________________________________________________________, (the “BUYER”), with

postal address at
______________________________________________________________________, hereby offer/s
to reserve and purchase the following property/ies to be developed by Banner Homes, Inc., a
corporation duly organized and existing under and by virtue of the laws of the Republic of the
Philippines, with business address at Gen. Luna St., Brgy. Sabang, Lipa City Batangas, (the
“DEVELOPER”).
PROPERTY UNDER CONSIDERATION FOR RESERVATION: That the property under
consideration and being applied for Reservation is described as follows:

HOUSE MODEL
BLOCK
LOT
LOT AREA
FLOOR AREA
SUBDIVISION NAME
PROJECT LOCATION

I/We understand and agree that my/our reservation for the Property is subject to the following:
1. TOTAL CONTRACT PRICE: The BUYER hereby agrees to pay the Seller the Total Contract
Price of _______________________________________________________________.
2. RESERVATION FEE: The BUYER shall pay a Non-Refundable Reservation Fee in the amount
of _________________________ upon the execution of this Reservation Application, which
shall form part of the Equity and/or Down payment and shall exclusively reserve for me the
above described property for a period of thirty (30) days beginning from the application date.

3. EQUITY / DOWN PAYMENT: The balance of the Equity / Down payment shall be paid in
accordance with the agreed Schedule of Payments and covered by Post-Dated Checks (PDC)
which shall be tendered after thirty (30) days from the Reservation date, which shall not be later
than_________________________.

4. LOAN AMOUNT: The remaining balance of the Total Contract Price in the amount of

____________________________________________________________________________
__ shall be paid in accordance with the agreed Schedule of Payments and covered by Post-
Dated Checks (PDC) in case of in-house financing, or by way of assignment to BANNER
HOMES INC. of the net proceeds of the BUYER’s housing loan with BANK or HDMF (Pag-IBIG)
FINANCING.

5. LOAN DIFFERENCE: In the event that the approved application for a housing loan is lower
than the amount applied for, herein BUYER agrees to pay the loan difference therein as equity
in accordance with the afore-stated Schedule of Payments on the required down payment.

6. The DEVELOPER shall deliver all relevant notices to the BUYER at the latter’s above-given
address. The BUYER shall notify the DEVELOPER of any change in his/her address within a
period of two (2) weeks from such event, failure of which shall give the latter the right to forfeit
any and all payments made by the BUYER relative to his/her housing application.

7. DOCUMENTATION: The BUYER undertakes to submit all the housing loan requirements
enumerated and attached herewith fully and properly accomplished on/or before
 ______________________________ or 30 days from the date of reservation. In case, that the
buyer does not submit the required documents within the period stated above, the DEVELOPER
has the right to cancel the account without prior notice, and to forfeit the Reservation Fee which
is non-refundable.

8. TRANSFER/SUBSTITUTION: It is understood that this Reservation Agreement is non-

transferrable nor can another unit in another location be substituted for the reserved lot/house
and lot, unless it is with the written approval of BANNER HOMES INC. which shall be subject to
the following charges:
a. Transfer Fee of Five Thousand Pesos (Php 5,000.00) from one unit to another and/or
from one subdivision to another including any adjustment in Prices of the new unit and Terms
prevailing at the time of transfer;
b. Five Thousand Pesos (Php 5,000.00) Transfer Fee from one type of financing to
another.
c. Ten Thousand Pesos (Php 10, 000.00) Transfer Fee for transfer of rights to a third party.
d. Incidental expenses, if any;

9. SUFFICIENCY OF NOTICE / FORFEITURE OF PAYMENTS: The DEVELOPER shall deliver

all relevant notices to the BUYER at the latter’s above given address and/or to the given
address specially indicated in the Buyer’s Information Sheet (BIS) which shall be deemed due
and sufficient notice to him/her and his/her spouse of its contents. The BUYER shall notify the
DEVELOPER of any change in his/her address within a period of two (2) weeks from such
event, failure of which shall give the latter the right to cancel the sale and forfeit all payments
made by the BUYER relative to his/her housing application.

10. CANCELLATION: That the following events shall give rise to the cancellation by the Developer
of herein BUYER’s Application/Reservation:

a. Failure on the part of the BUYER to submit the hereunder listed documentary
requirements attach as Annex “A”, within Thirty (30) days as stipulated in paragraph
no. 9 on Documentation above.

b. Failure to submit the Post Dated Checks (PDCs) on the date stipulated in paragraph
no. 4 of this Agreement shall be deemed as a violation of this Reservation
Agreement and shall cause the cancellation of BUYER’s Application/Reservation and
the forfeiture of the Reservation Fee.

c. With regard the subject property being reserved, BUYER shall be considered to be in
default if he/she should fail to pay three (3) consecutive monthly amortizations which
shall be a ground for the automatic cancellation of this application/reservation on the
subject property, without further notice. BUYER further agree that his/her period to
pay in full the Net Required Equity /Down payment shall not be extendible except
when approved in writing by BANNER HOMES INC. He /She further agrees that any
extension payment shall be subject to a three percent (3%) penalty per month from
the day full payment was originally due to the date complete payment is actually
made.

d. Failure to submit the required Post-Dated Checks (PDC) to cover for the monthly
amortization of the remaining balance, or failure to assign the net proceeds of the
housing loan, as stipulated in paragraph no. 4 above.

e. The BUYER’s voluntary cancellation/withdrawal of herein application/reservation for

whatever reasons there for, the DEVELOPER shall have the right to forfeit whatever
payment he/she has already made, as by way of liquidated damages.
 f. The denial of the BUYER’s loan application with his/her preferred financing due to
his/her misrepresentation regarding his personal circumstances and/ or work related
information shall constitute a serious breach or violation of this
application/reservation. In such event, the DEVELOPER shall have the right to
automatically cancel this application/reservation and forfeit all partial payments that
he/she has made, as by way of liquidated damages.

11. REFUND: Where the buyer has paid at least two years of installments but defaults in the
payment of succeeding installments, the buyer is entitled to grace period to pay the unpaid
installments due, and cash surrender value of the payments on the property if the contract is
cancelled, as governed by Republic Act No. 6552 also known as the “Realty Installment Buyer
Protection Act.” For such cancellation and refund, the client must write a formal letter to
BANNER HOMES INC. indicating the reason for cancellation and refund and must pay the
processing fee of One Thousand Eight Hundred Pesos (Php1,800.00), which amount is subject
to change with prior notice. However, the broker’s commissions and service charges shall be
deducted from the down payment, and the Reservation Fee is non-refundable.
12. Finally, it is understood that all the provisions of this Reservation Application and Agreement are
deemed incorporated and forms an integral part of the Contract to Sell, Deed of Absolute Sale
and other related documents still to be executed although the same may be silent on the said
incorporation.
I understand and accept that the Developer retains the right to make changes to the architectural and
floor plans of the Reserved Property without my consent. If the areas of the Reserved Property as
described herein and as ultimately determined in the approved designs differ, the Developer shall
adjust the TCP proportionately.
I acknowledge and agree that any legal action resulting from the purchased and sale of the Reserved
Property shall be brought EXCLUSIVELY before Philippine courts and shall be governed by the laws of
the Philippines.
This application cannot be transferred, and any attempt to do so will result in the outright rejection of
the application and the loss of the application fee. However, the Developer may at any time and without
prior notice, assign its rights and interests under this Application or in the Project.
I have read and understand this Application, and I hereby agree to abide by its terms. I also give my
consent to this Application's processing, as well as the Developer's collection, use, and disclosure of all
the personal information I have provided herein for the processing of my Application and all other
related documents and transactions.

With marital consent:

_______________________________ _______________________________
APPLICANT/BUYER SPOUSE

Reservation Processed: Noted by:

DARWIN LASIN RACHELLE M. GEREZ

Marketing Officer Admin Officer
_______________________________ ABIGAIL H. CUENCA
Property Specialist/Sales Manager Sales Head