PRELIMINARY
CONTRACT
FOR THE PURCHASE - SALE OF REAL ESTATE
Today
by and between:
1. Marin Kanchev Yankov from the
town of Bourgas, 20, Ivan Bogorov Str., entr. 4,
floor 3, ap. No. 9, Personal Identity Number: 8304030441
in his capacity of a Manager of VILMAR INVEST
LTD with headquarters and management address in
the town of Bourgas, 20, Ivan Bogorov Str., entr.4,
floor 3, ap. No. 9, registered under companys file
No. 2404/2007 in the register of Bourgas District
Court, under lot No. 1897, volume 49, page 164,
BULSTAT No. 147154796
E-mail: yankov79@abv.bg ; www.yankov-79.com
Tel.: +359 56 814 906 ; +359 899 930 157; +359 888
333 275 ; +359 896 646 221
As the first party called for short hereinafter
the SELLER, and
2.
, date of birth:
., place
of birth:
..
.., passport No.
, issued on
.
called for short hereinafter - the BUYER.
On the grounds of art. 9 and art. 19 of the Law
for contracts and obligations the following contract
was signed:
Chapter I
SUBJECT OF CONTRACT
Art. 1 /1/ The SELLER by signing
this contract is obliged to build, sell and transfer
/by way of final contract notary certified in a
manner and on the terms described hereunder/ to
the BUYERS the right of ownership over the following
real property namely: APARTMENT No.
, with total
area of
. sq.m. to be built in a building which
is already under construction in PI No. 016305 /say:
zero, sixteen thousand three hundred and five/,
Krotirya neighbourhood, according to the zoning
plans of the town of Pomorie, where the whole plot
has an area of 3,187 sq. m. (say: three thousand
one hundred and eighty seven sq.m.) and has the
following neighbors: east: PI No. 016306, west:
PI No. 016174, north: PI No. 3792 and south: road
and consists of five entrances, one ground and five
residential floors, in compliance with the architectural
designs, as approved and authorized by Pomorie Municipality
on 12.07.2007, along with the corresponding ideal
shares of the construction right upon the regulated
plot described thereto.
/2/ By signing this contract the BUYER
is obliged to buy in the manner and under the terms
described hereunder the Property referred to in
the previous paragraph.
Chapter II
RIGHTS AND OBLIGATIONS OF THE PARTIES
Art. 2 /1/ The SELLER is obliged to build the apartment,
subject of this contract and the building in which
the same is located at a stage of completion ready
for acceptance with the relevant occupancy permit,
act form 16, by executing all finishing works within
the said apartments, as follows :
- Floor covering laminated flooring
in living rooms and bedrooms, terracotta tiles in
bathrooms, granite-gress in corridors, stairs and
terraces;
- Walls and ceilings ceramic tiles on walls in
bathrooms, ceilings of the bathrooms and the rest
of the rooms - plastered and latex-painted;
- Joinery PVC;
- Doors MDF;
- Hydraulic lifts per each entrance or the total
of 5;
/2/ The SELLER is obliged to furnish the apartments
subject of the sale as follows:
- bathroom with assembled mixing
tap, sink, toilet seat, shower-cabin and electric
water heater;
- living-room with outlets for sink, with assembled
outlets for cable TV, with mounted lights, air-conditioner;
- bedroom - with mounted lights, air-conditioner;
/3/ The SELLER is obliged to build the Property,
subject of the sale upon this contract, as well
as to furnish it in a way as described in paragraph
one and two within the period until 31.05.2009.
/4/ The SELLER is obliged to execute
the construction of the building and the apartment
to be transferred in compliance with all applicable
regulations which are related to the quality of
the construction works.
/5/ The SELLER is obliged to deliver and assemble
the equipment and furniture as agreed above with
a quality that fully complies with Bulgarian national
standard and all other applicable regulations.
/6/ The SELLER is obliged to transfer in favour
of the BUYER through a notarized final contract
the right of ownership upon the apartment subject
of the sale within two weeks period after receipt
of Permission for use of the building.
/7/ All costs for signing the final
contract (including notarys fees, registration
fee, local tax) are based on expenses that have
been really made and shall be on the account of
the BUYER.
Art. 3 / 1 / In consideration of the transfer of
the right of ownership over the apartment as described
above, including the cost for his furnishing and
equipment, the BUYER is obliged to pay the SELLER
the selling price agreed between the parties amounting
to
...
/say:
euro/
VAT incl.
/ 2 / The Selling Price of the apartment
shall be paid by the BUYER within the terms and
in installments as follows:
1. 1,000 /say: one thousand euro/
reservation fee for the apartments described above
are payable at the moment of signing this contract
and the said sum will be deducted from the first
installment. This sum is not refundable;
2.
. /say:
... euro/
representing 30 % (say: thirty percent) of the agreed
total Selling Price shall be paid until
.200
/within one-month period after signing of a preliminary
contract/;
3.
/say:
.. euro/,
representing 40% (say: forty percent) of the total
Selling Price shall be paid until
.200
/within
three-month period after signing of a preliminary
contract/;
4.
/say:
.. euro/,
representing 20% (say: twenty percent) of the total
Selling Price shall be paid until 31.05.2009;
5.
/say:
.. euro/,
representing 10% (say: ten percent) of the total
Selling Price shall be paid at the moment of signing
the Notary deed for the sale of the apartment.
/3/ The parties agree that the initial installment
amounting to 30 % (say: thirty percent ) of the
agreed total Selling Price shall be paid by the
BUYER as advanced payment /booking deposit/ as interpreted
by virtue of art. 93 of the Law for contracts and
obligations.
Clause 4. The SELLER keeps the right of ownership
on the land described in clause 1 on which the building
and the adjacent infrastructure are built.
Clause 5 /1 / The BUYERS are obliged
upon the completion of the transfer of the right
of ownership over the Property to pay to the SELLER
a annual maintenance fee amount to
..
/ 10
per sq.m./ - /The Service charge/.
/2/ าhe Service charge is payable
on or before thirty first of March of the respective
year.
Clause 6 /1/ In consideration of the
BUYERS obligation to pay Service charge under clause
5, the SELLER undertakes to organize maintenance
and exploitation of the common parts of the building
where the Property is located and the infrastructure
adjacent to the building which maintenance includes
providing the following services:
- organization of 24 hours security
;
- providing use of an open pool ;
- providing use of the park area part of the adjacent
infrastructure ;
- maintenance and cleaning of the common parts of
the building ;
- maintenance and technical exploitation of the
lifts in the building ;
- maintenance of the green areas in the complex
;
- upon the request of the BUYERS and on their account
to pay the consumable costs of the Property (electricity,
water and others).
/2/ Payment of the Service charge
shall be made to the SELLER personally or to his
authorized representative.
/3/ The amount of the Service charge
due is specified by the parties as the possible
consumable costs regarding the maintenance. It has
been calculated taking into consideration the minimum
monthly salary for the country which is 180 BGL
determined at the moment of signing this contract.
In case after signing this contract the price of
water, electricity or the minimum monthly salary
are increased by more than 25 % ( twenty five percent
), the amount of the Service charge due shall be
increased by the same percent.
Clause 7. In the event of a sale, setting up limited
real rights, signing preliminary contracts for sale
or carrying out any kind of competent actions the
BUYERS will not be obliged to pay the Service charge
only provided that any third parties connected with
any such actions have undertaken these obligations
by written contract signed with the SELLER.
Clause 8. In the event that the BUYERS do not want
to use the Property all the year round, the same
can for the duration of the period when the apartment
will not be used assign to the SELLER to rent it
to third parties or under any other legal form to
organize its rendering for use against payment from
third parties. In such cases the relations between
the parties are settled with a separate contract.
Art. 9. The SELLER declares that he has not transferred
the apartments or any part of them to third parties,
has not signed any other preliminary contracts for
these particular apartments that are currently valid,
there are no injunctions imposed on them, there
are no written claims registered, there are no mortgages
and no real burdens and at the moment there is no
pendent lawsuit to dispute the above apartments.
Art. 10. The SELLER is obliged to
transfer and give the BUYER the factual right on
the apartments subject of this deal at the date
of signing the final contract. At the moment of
transferring the factual right a protocol for delivery
acceptance shall be made and it shall be signed
by both parties. The latter shall contain eventual
remarks and reservations made on behalf of the BUYER
regarding the quality and quantity of the construction
and mounting works done and the assembled equipment
and furniture in the apartments.
Chapter III
NON - EXECUTION OF THE CONTRACT, CONSEQUENCES
Clause11. In the event that the BUYERS
do not fulfill their obligation to pay the installments
regarding the Selling Price due within the terms
under clause 3 of this contract, they shall pay
to the SELLER a default charge amounting to 0.1
% (zero point one percent ) of the unpaid installment
for every day of the delay but no more than the
respective installment.
Clause 12. In the event that the BUYERS
do not fulfill their obligation to pay the Service
charge under clause 5 of this contract, they shall
pay to the SELLER a default charge amounting to
0.1 % (zero point one percent) of the unpaid Service
charge for every day of the delay.
Clause 13 /1/ In the event of a delay
in the term for construction agreed under clause
2 paragraph 3 due to failure of the SELLER, the
same shall pay to the BUYERS a default charge amounting
to 0.1 % (zero point one percent) of the value amount
of the non-finished works for every day of the delay
but no more than the full amount of the works.
/2/ The SELLER is obliged to take measures in front
of the competent bodies for acceptance of the building
with permission for use.
/3/ The defaults under this clause do not deprive
the BUYERS from the right to claim the preliminary
contract to be announced as final in accordance
with clause 19 paragraph 3 of the Law for contracts
and obligations.
Clause 14. The SELLER is obliged to remove on his
account all defects of the Property which are due
to low quality of the construction within 12-months
warranty period. Repair of defects and failures
in the building-assembly works found out after expiration
of the warranty periods is done on the account of
the BUYERS.
Clause 15. In the event that the fulfillment of
the obligations of the parties under this contract
becomes objectively impossible due to occurrence
of force major circumstances (such as acts of God,
accidents, change in the legislation, obstacles
of administrative nature and others) the terms for
fulfillment of the obligations of the parties under
this contract shall be considered automatically
prolonged with the time reasonably needed to remove
the obstacles arisen.
Chapter IV
ADDITIONAL PROVISIONS
Art. 16. Amendments and supplements to this contract
may be done only by mutual agreement by the parties
expressed in writing which shall be enclosed as
an integral part of this contract.
Art. 17 /1/. In the event of legal dispute arising
regarding the fulfillment of this contract the same
shall be solved by the competent court in accordance
with the rules of the Bulgarian civil legislation.
/2/ On the grounds of art. 91 of the Civil Procedure
Code the parties agree that all property obligatory
disputes regarding legal consequences arising from
this contract and regarding fulfilment of the obligations
arising from it shall be solved by Nessebar regional
court ( respectively Bourgas district court ) as
first court instance.
Art. 18. The parties agree to send their notices
to the following address:
For the SELLER: ground floor, 52 Dimitar
Blagoev Str ., 8000 Bourgas, Bulgaria,
VILMAR INVESTLtd. ล-mail: yankov79@abv.bg ; www.yankov-79.com
For the BUYER: at the address given
below:
e-mail:
.
Art. 19/1/ All financial obligations resulting under
this contract shall be payable at the discretion
of the BUYER either in cash against receipt, or
through postal order or bank transfer to the bank
account given below:
DSK Bank PLC,
Branch Bourgas
Bourgas, 12, Vassil Aprilov Str.
BIC: STSABGSF
IBAN: BG76STSA93000014434068 in BGN
IBAN: BG21STSA93000014665821 in EUR
Name: VILMAR INVEST Ltd.
/2/ The payments may be done either in euro or Bulgarian
local currency, where one euro shall be calculated
on the grounds of the applicable currency exchange
rate of the Bulgarian National Bank.
This contract was written and signed
by the parties in two identical copies in Bulgarian
and in English one for THE BUYER and one for THE
SELLER and in case of discrepancy the Bulgarian
version shall prevail.
