The Vendor, in its sole and absolute discretion, may allow the Vendee to pay the outstanding unpaid principally, totally, or partially, upon such terms and conditions as may be imposed by the Vendor, provided that in case the Vendor allows payments in advance, such payments will not relieve the Vendee from paying the agreed monthly installments, the only effect of such partial payment being merely to shorten the terms of the contract. Payments of fractional installments will not be accepted.

In case of war, the Vendor shall not be obliged to accept payment and, in case the Vendor shall have chosen not to be obliged, the unpaid balance of the purchase price shall not earn interest during the war period when payment is suspended.

The Vendee may, for all legal intent and purposes, occupy the said property upon payment of at least fifty percent (50%) of the total purchase price.

Real Estate taxes and assessments on the lot shall be paid by the Vendor until the year that full payment of the purchase price is made. Thereafter, the Vendee shall pay for the Real Estate taxes due on the lot.

During the period to full payment of the Contract Price, the Vendee binds himself not to sell, cede, lease, transfer or any manner dispose of his rights and obligations under this contract without prior consent of, and under such terms and/or conditions as maybe required or imposed by the Vendee and clearance from the VDMHAI.

The Vendee shall first offer to sell the property to the Vendor. The offer shall be in writing and shall specify the price, terms and conditions of the offer.

The start of construction of the residential unit is subject to the fulfillment of the following conditions:

• Full payment of 20% of the package cost.
• A queuing system for construction shall be observed based on the actual schedule of construction indicated by the Vendee and is on a first-come, first-served basis.
• The basic facilities such as water, electricity, and concrete roads in the area where the unit is to be constructed are already available.

The Vendee cannot withdraw his membership from the VDMHAI unless he sells or parts his interest in the land and the improvements thereon, if any, and under such terms and conditions stated in Section 27 on the Transfer of Rights/Certificate of Transferability of the Deed of Restrictions.

The Vendee shall pay for any filling of improvements on the land which may required by the Government or other competent authority.

In case of loss of the copy of his contract, the Vendee must immediately notify the Vendor in writing. The Vendor shall not in any way be liable for damages arising out of the usage of such lost contract.

The owner or developer shall deliver the title of the lot or unit to the buyer upon full payment of the lot or unit.

No, the processing fee for the transfer of title is not included in the package price. They have two options: a) They can process the transfer of title or b) The company will do the transferring.

The cost of the transfer fee shall be five percent (5%) of the total contract price, payable upon full payment of installments or amortizations and submission of all necessary requirements.

Our basis of payments of the monthly installments through dollar rate shall be the value of the Philippine Peso at the time of the execution of this agreement, as provided for under Articles 1250 of the New Civil Code.

The Vendee, including the members of his family, agrees to utilize the House and Lot acquired for residential purposes only.