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Legal information English Sample CONDITIONAL SALES CONTRACT
BETWEEN:
The first part, TYCOON MANAGEMENT S.A, Business Society constituted and organized according to the Dominican laws, RNC No. 1-01-89621-3, with its domicile and main establishment on Calle Hermanas Mirabal No. 83 del 30 de Mayo, in this city of Santo Domingo; duly represented by its President Mr. TAERIS ALMONTE PEÑA, and its Vice-president and Treasurer, MR. JAIME A. LLADÓ, both Dominicans, of legal age, married, bearers of the identification cards Nos. 001-1552226-0 and 001-1232625-1 respectively, resident in this domicile, who thereinafter in this present contract will be referred to as THE FIRST PARTY or by their own names. -----------
And the other party: Mr. (Mrs. Ms.) ------------------------------------ , nationality: United States of America, of legal age, identified with the passport or identification card No. XXXXXXXX, resident in ---------------------------------------------------, USA and accidentally in this city of Santo Domingo, capital of the Dominican Republic, who thereinafter in this present contract will be referred to as THE SECOND PARTY.-----------------------
THEREFORE: Understanding that this preamble is an integral part of this present contract, the parties------------------------------------------------------------------------------------
HAVE CONVENED AND AGREED AS FOLLOWS
Object of the Contract.
TYCOON MANAGEMENT S.A, sells, concedes and transfers, from now and forever, charge and line-free, “One _apartment (1) in construction in the housing project denominated “BLUE GARDEN”, part of a housing project located in and, marked with the number ------ in the building --- inside Parcel No. C.91-117, Real State District No. 11- 4, inside the Blue Garden Apartments in the city of Bávaro and in construction, built with reinforced concrete with a built area of fifty square meters (50 m²), having the following distribution: one (1) floor and one (1) bedroom, one (1) bathroom, living and dining room, kitchenette, balcony and green and common area with pool with cascade, gazebo and one (1) parking lot of each apartment, reception, electronic controlled doors in parking”---------------------------------------------------------------------------------------------
SECOND ARTICLE: TYCOON MANAGEMENT S.A, justifies its right to own this property in the aforesaid parcel with the Title Certificate No. 2004-505, issued on behalf of TYCOON MANAGEMENT, and transferred to THE FIRST PARTY by a purchase act duly registered.--------------------------------------------
Sales Price:
THIRD ARTICLE: Sale price agreed by the parties on the real state object of this present contract is sixty-five thousand American Dollars (US$ 65.000.00) -----
PAYMENTS:
FOURTH ARTICLE: THE SECOND PARTY pays to THE FIRST PARTY the amount of five-thousand American Dollars (US$ 5.000.00) as Reservation fee and used by both parties to keep and preserve the apartment number B204, then 30 days after this payment the SECOND PARTY have to complete the amount of nineteen-thousand-five hundred American Dollars (US$ 19.500.00), as a 30% down payment, receiving from THE FIRST PARTY, formal receipt of discharge and release.---------------------------------------------- and THE FIRST PARTY will recognize the reservation fee as part of this payment and will sign together with THE SECOND PARTY the present contract. PLEASE NOTE THAT THIS PAYMENTS ARE NOT REFUNDABLE IF THE CLIENT DO NOT ACOMPLISH THE FURTHER 20% PAYMENT AFTER SIX MONTHS.
FIFTH ARTICLE: As for the balance due, ascending to thirty-two-thousand-five-hundred American Dollars (US$ 32.500.00), THE SECOND PARTY commits to pay a 20% six months after completion of the DOWN PAYMENT to complete a 50% and to have the right to resell, from the total price of US$ 65.000.00, the balance due of 50% will be paid at delivery of the property in the offices of THE FIRST PARTY.-----------------
SIXTH ARTICLE: THE SECOND PARTY is able to provide documents required by a banking institution in order to obtain the financing of the real state object of this contract, such as the loan requisition form, life insure form, work letter and the sworn declaration of incomes if THE SECOND PARTY decided for this option or they will have to paid the balance due with its own resources.--------------------------------------------------------------------------------------------------
Paragraph I: In case that THE SECOND PARTY should not received the financing for any reason or circumstance or could not paid the balance due with its own resources, THE FIRST PARTY will retain 15% of the total value of the sale.---------------------------------------------------------------------------------------
SEVENTH ARTICLE: If THE SECOND PARTY does not comply with the established datelines explained in this contract to make their payments, THE FIRST PARTY, will notify a payment warrant, given a dateline of five (5) days to receive the payment of the due balances, and in the case that THE SECOND PARTY would not pay according to this requirement, this present contract will be declared as RESOLVED by THE FIRST PARTY, with a simple notification of bailiff act and without need of another legal process, having on his behalf the corresponding amount of forty (40%) per cent of the paid amount by THE SECOND PARTY according to the established in the Law 596, on Real State Conditional Sales.
Place of Payments:
EIGHTH ARTICLE: THE SECOND PARTY commits to do the aforesaid payments in this present contract corresponding to the price of the real state object of this sale, as well as the initial down payment in the resident of THE FIRST PARTY or in a place or account designated by THE FIRST PARTY --------------------------------------------------------------------------------------------------
THE FIRST PARTY’S OBLIGATIONS:
NINTH ARTICLE: THE FIRST ARTICLE declares that the real state object of this sale will be delivered December 1 2007 in a dateline of _17 month or (_510___) days after July 01 2006, in this period of time, THE SECOND PARTY must do all the payments derived of this present contract, so that THE SECOND PARTY obtains his/her own Title Certificate.------------------------------------------------------------------------
Paragraph I: In case that THE FIRST PARTY does not comply with the established dateline for the delivery, the corresponding penalties established in the Article No. 7 will not apply and a 0.5% from the total value of the sale will be paid to the SECOND PARTY every other month after the date that is established in the present contract, if the cause of the delay is from natural causes, like earthquake, hurricane or other, this penalty will not apply and both parties will take the local newspapers as a reference.
Paragraph II: THE FIRST PARTY offers one (1) year of warranty starting when the real state is delivered, just in case of any construction failure and declares that the real state has been built satisfactorily, according to the good practice of building. It is expressly stated that THE FIRST PARTY does not have responsibility whatsoever for the damages and failures that may happen because of the inadequate use by THE SECOND PARTY, or his/her successors, heirs, related, assignees, o relatives, or for the deterioration that may suffer because of abandon, both parties would make a final inspection and if satisfy they will sign a letter of discharge.
THE SECOND PARTY’S OBLIGATIONS:
TENTH ARTICLE.- As the owner of the apartment hereinbefore described, THE SECOND PARTY will commit to accept and comply with all the dispositions of BLUE GARDEN APARTMENTS Regulations about the use and destination of the apartment and of the common areas.---------------------------------------------------------------------------
Domiciles of the parties:
ELEVENTH ARTICLE.- For all the consequences derived of this contract, the parties choose domicile in the places already established in this contract, having the right to be notified of any change therein and being obliged to notify the other party by acknowledgement letter, on the contrary, that change will be rejected. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
DONE AND SIGNED IN GOOD FAITH in three (3) originals of a same tenor and effect, one for each one of the parties. In the city of Santo Domingo, National District, Capital of the Dominican Republic, on the ________ (____) days of the month of _______ of the year Two thousand ______ (200__).----------------------------
FOR THE TYCOON MANAGEMENT S.A
MR. TAERIS ALMONTE PEÑA MR. JAIME A. LLADÓ
THE BUYER
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I, DR ISMAEL RODRIGUEZ, Lawyer, Public Notary of the ones of the National District, CERTIFY AND GIVE FAITH that before me appeared freely and willingly MR. TAERIS ALMONTE PEÑA, MR. JAIME A. LLADÓ, _________________________ whose qualities and personal references appear in this document which was signed in my presence, manifesting me under the faith of oath that these signatures are the ones they use in every of their public and private acts. In Santo Domingo, National District, Capital of the Dominican Republic, on the ______ (___) days of the month of __________ of the year Two thousand _____ (200__).---------------------------------------------------------------
DR. ISMAEL RODRIGUEZ
Public Notary
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