PCDF01 rev00 01 Sep05

Reservation Agreement

Gentlemen:

This is to confirm my offer to purchase a lot/house and lot at project ______located at Barangay Carmen, Cagayan de Oro City, Misamis Oriental subject to the following terms and conditions :

  1. The unit I would like to reserve is Block no. ____ Lot no./size ___ /___sqm. Phase ___ with house model ______(if w/ building) consisting of a floor area ______square meters.7
  1. I have personally visited your project site and read the draft of the Contract To Sell familiarized myself with the subdivision layout, housing plans, specifications, pricing and computation and have found all the foregoing acceptable.
  1. The total contract price of the unit inclusive of the house & lot shall be PESOS : ______

( P ______) plus miscellaneous expenses and other particulars as follows ;

Unit Price P ______

Less : Discount______

Promo______

Others______

Total Contract Price______

Less : Estimated Loan Value ______

Equity______

Less Reservation Fee______

Less : 2nd REM applied for, if any______

Net Equity

Add : Miscellaneous fee

Net Cash RequiredP______

4. The manner of payment shall be as follows :

a.The amount of PESOS : ______( P ______) as reservation fee (initial downpayment) to serve as earnest money upon my signing of this Reservation Agreement.

b.The balance of the Cash required in amount of PESOS :______( P ______) shall be due and payable 30 days from the date of Reservation Agreement subject to the equity payment schedule.

c. The remaining balance of the Total Contract Price in the amount of PESOS : ______

______( P ______) shall be paid on or before ______

5. I understand that all my payments must be remitted by me to the Cashier of the Broker or Pueblo de Oro Development Corporation (PODC) for the proper issuance of a provisional or official receipt. Any payments made to agents or real estate brokers shall be my sole responsibility and risk Check payment shall be payable to “PUEBLO DE ORO DEVELOPMENT CORP.” or “PUEBLO” or “PODC”.

  1. It is agreed and understood the miscellaneous expenses such as registration fees, documentary stamps tax, transfer tax and other expenses in the event of transfer of Title water connection fees CEPALCO connection fees would be for my account. For the financial institutions (i.e. Pag-IBIG, Originating Bank/Institutions, etc) charges such as application fees, appraisal fees, processing fees, mortgage redemption insurance, fire insurance and other premium required by the financial institution shall be paid by me when required. The amount stipulated in the Contract to Sell and the Deed of Absolute Sale is exclusive of the Miscellaneous fees which are direct expenses and which shall be paid by me.

7.Non-payment of net cash required in accordance with the designated payment schedule shall result in the cancellation of my reservation and forfeiture of all or partial payments made at the discretion of PODC. In special case wherein my request for extension of payment for the cash required has been approved by PODC, a late payment penalty charge of three percent (3.0%) shall be imposed. However, no extension request shall be granted for more than thirty (30) days from the prescribed due date.

8.In case PODC assigns approve my application for Equity Financing, I agree to issue the corresponding Post Dated Checks (PDCs) within thirty (30) days from date of reservation. In the event that I fail to issue the required PDC’s within the prescribed period, the approval of my Equity Financing shall automatically become null and void and the amount of equity loan shall immediately become due and payable. I agree further to pay the amount equivalent to equity loan within seven (7) days upon receipt of a demand notice from PODC or its assigns. My non-payment of this balance of my equity shall constitute as a major violation of this agreement and my reservation shall be canceled automatically without further formality by PODC and my partial payments made shall be forfeited as liquidated damages.

9.This reservation fee shall be non-refundable, non-assignable and non-transferable to other applications or to another unit or location, unless with the written consent of PODC subject to contract adjustment per prices and terms prevailing at the time of transfer and the payment of a transfer fee.

10.In the event the subject unit is found to be unavailable for sale to me due to prior sales commitment or transaction to or with another party, the same having been offered to me by mistake or inadvertence. I agree to have the subject unit exchanged with a unit of equal area or value, or to effect the cancellation of the Reservation Agreement, subject to the reimbursement of all payment previously made by me by reason of this reservation.

11. Approval of this reservation shall be temporary and shall be subject to final confirmation after my housing loan applied for has been finally approved.

12. In case of purchase through financing from PAG-IBIG,GSIS,SSS, Bank or any other applicable lending program. I agree to submit to PODC through Broker all the required documents for the processing of my housing loan within 15 days from reservation, In case where additional information or documents may be required. I agree to submit these documents within fifteen (15) days from date of notice, otherwise the reservation for the house or lot unit shall become null and void and PODC through Broker shall cancel my Reservation Agreement without any need for future notice and forfeit as liquidated damages any or all partial payments made for the housing unit.

13.In the event that the approved housing loan is lower than the amount applied for, I am agreeable to pay the differential as additional cash required within fifteen (15) days from receipt of notice. My failure to do so shall allow PODC to cancel my Reservation Agreement and forfeit all partial payments made.

  1. If the reason for denial of the loan application is due to my misrepresentation made by me, this shall constitute a major violation of this agreement. In such a case, PODC shall have the right to automatically cancel this agreement and forfeit any and all payments made by me as liquidated damages. It is likewise understood that any representation or warranty made to me by my sales agent when handed this reservation, which is not embodied herein shall not binding upon PODC unless reduced into writing and signed by PODC. This offer shall not be considered as changed, modified or altered or in any way amended by any act (s) of tolerance of PODC unless such change(s) modification(s) or amendment(s) are made in writing and signed by PODC.

15. In case my housing loan application is denied. I shall settle the balance in cash. Any failure to do so within fifteen (15) days from PODC notice shall allow PODC to cancel this agreement and forfeit any and all payments made by as liquidated damages.

16.Subject to the guidelines of the Housing and Land Use Regulatory Board (HLURB), PODC shall reserve the option to avail of interim and development financing from any financial institution utilizing the lot unit including improvements covered by this contract as collateral provided that PODC shall inform me of the loan value extended for the lot unit together with other particulars as may be required by HLURB.

  1. Its is agreed and understood that I shall move-in and take possession of my housing unit or Lot within ten (10) days from date of receipt of the Authority to Move-in or Permit to Occupy issued by PODC. My failure to move in and take possession of the housing unit with in the prescribed period shall relieve PODC of any responsibility or liability with respect to any pilferage or damage to the housing unit.

18.I shall not hold the Seller responsible for the delay of the CEPALCO in the connection of electrical service facilities provided and application thereof had been made and that the corresponding fee or deposit had already been paid by the Seller. I am also amenable to have my unit connected to a temporary power line with one mother meter from CEPALCO and pay my pro-rate electrical consumption until such time that CEPALCO is able to take-over the distribution systems.

19.In case there is any discrepancy as to the actual size of the lot area of my reserved unit, due to errors in surveying or for other reasons, I am amenable to either get a price reduction where it is found to be smaller or to pay the corresponding additional amount should the lot area be larger. I agree to make my payment within seven (7) days from receipt of notice from PODC or its assigns.

20.Failure on my part to comply with any of the provisions of this Reservation Agreement and other agreements related hereto, including my voluntary withdrawal or cancellation including non-submittal of the required documents and PODC (if applicable) within the prescribed period shall grant PODC the right to automatically cancel this Reservation Agreement without further formality and in said eventually, my partial payments are forfeited as liquidated damages.

Date ______Place ______

Approved :

PUEBLO DE ORO DEVT. CORP.______

SellerName & Signature of Buyer

By: ______

VP/ General ManagerTIN ______

CTC ______

Date ______

Place ______

______

Name & Signature or Broker / Salesman

LIC No.______AE/AO______

O.R. No. ______