April 27, 2008
Ronald D. Castro
Dear Mr. Castro:
This letter is serves as our written agreement regarding the purchase of lot and house construction. You agreed to purchase a parcel of lot located at Santis Subd with address of Blk 02, Lot 12 Santis Subd. Marawi City, from JCMER Home Builder and two-storey house shall be built by JCMER Home Builder.
This Agreement is subject to the following terms and conditions:
- The Project is the a Two-Storey Residential Structure to be constructed by JCMER Home Builder at Blk 02, Lot 12 Santis Subd. Marawi City. The total contract price will be Two Million Eight Hundred Pesos (Php2,800,000.00) including the purchase of lot and the two-storey residence.
- The BUILDER, JCMER Home Builder will take charge to the completion of the said project and shall likewise provide all the necessary materials, labors, tools and equipment needed for the construction. In addition, the BUILDER shall perform all such works in accordance with the approved plans and specification.
- Additional construction such as modification or revision not covered by the construction plans and scope of work specified shall be subject to separate billings by the BUILDER• The work to be performed under this agreement shall commence from and after the receipt by the BUILDER of all approved construction permits and licenses required for the project, reservation fee, down payment and upon written approval by the OWNER.
- The work shall be completed by the BUILDER before the final release of housing loan. Provided, however, that any delay of reason of force majeure of fortuitous event, or by reason of additional.
- The PURCHASER, Mr. Ronald D. Castro, agrees to pay a reservation fee of Fifty Thousand Pesos (Php50,000.00) upon signing of this agreement. Also, the purchaser will pay a 25% of the total cost amounting to Five Hundred Sixty Pesos (Php560,0000.00) to be payable within six (6) months. The reservation fee and the downpayment of 25% will be deducted to the total cost of the contract price.
- The reservation fee and the 50% of the down payment amounting to two hundred eighty pesos (Php 280,000.00) is non refundable if the PURCHASER terminate this agreement.
The PURCHASER acknowledge that they have read and fully understand the provisions of this Agreement.
IN WITNESS, the BUILDER and PURCHASER have executed this Agreement.
Merecel L. Navarro
JCMER Home Builder
Ronald D. Castro