A BUYER in default as provided Widerthe tenns and conditions of this Agreement shall not be entitled
to avail of the transfer rights referred to in this Section.
CONDEMNATION OR EXPROPRIATION PROCEEDINGS:
If at any time before the fun payment
of the purchase price, the Government or any of its instrumentalities or any public service company shall condemn or
expropriate the property, the SELLER shall have the FULL AND ABSOLUTE RIGHT to deal, negotiate, or resist the
expropriating or condemning authorities, or enter into a compromise with the latter.
Under this agreement, the BUYER shaDhave only the right to receive a proportionate part of the compensation
which is the amoWitalready paid or amortized bears the total purchase price.
This contract shall be binding upon the heirs, executors, administrators and assigns of
both herein contracting parties. It is further agreed that the venue of any court action which may arise from this contract
may, at the option of the SELLERbe the proper courts ofthe City ofDavao.
Invalidation of any of the covenants and conditions contained herein, by Court order or judgment shall in no way
affect any of the other provisions which shall remain in full force and effect.
TWO OR MORE BUYERS: If there are two or more purchasers Wider this contract, the obligations
mentioned herein are deemed contracted by the BUYERS in theirjoint and solidary capacities.
AMENDMENT OR NOVATION OF CONTRACT:
This agreement cancels and supercedes all
previous contracts or agreements entered into by the parties herein, and any change, modification, alteration or amendment
of this contract, shall be authorized only when signed by both parties.
INDEMNITY AND ATTORNEY'S FEES: In the event that the SELLER is compelled to seekjudicial
relief arising from any breach of the terms and conditions of this contract by the BUYER, the BUYER hereby binds himself
to pay the SELLER by way of attorney's fees a sum equivalent to TWENTY FIVE PERCENT (25%) of the total amount
claimed, but in no case be less than TEN THOUSAND PESOS ( P 10,000.00 ) aside from any damages, costs of litigation
and other expenses to which the SELLER is entitled to Widerthe law.
For all individual units, the exterior wall of the house is subject to a
perpetual easement stated in the Deed of Restrictions.
The BUYER hereby acknowledges that in buying the property, he has full knowledge of land development works
and/or improvements actually being Widertakenor which in the future may be Widertakenby the SELLER in the vicinity of
the property, and that he and his.heirs, successors and assigns hereby holds the SELLER, its successors and assigns, free
and hannless from any claim or action of whatsoever nature and kind which may arise out of or due to any and all
inconvenience, disturbance, minor property damages ( which shaDbe repaired or restored) and/or nuisance caused to him
by the said development works.
IMPROVEMENTS REQUIRED BY GOVERNMENT: The BUYER shall pay for any filling or
improvements on the land which may be required by the Government or other competent authority.
SUBDMSION PLAN AMENDMENTS: Whenever the government or any of its instrumentalities
empowered by law shall cause or authorize an amendment of the subdivision plan, appropriate adjustments shall
accordingly be made to conform to the amended plan. In such an event, there shall be no change in the rights and
obligations of the parties Wider this contract except only that caused by the adjustment in the area and proportionate
increase or decrease in the total contract price computed at the same price per square meter.
Contract to Sell