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 upper and lower kitchen cupboards,
electric devices (built-in oven, built-in
hob, extractor fan, refrigerator), entrance
hall hat and coat rack with mirror, shoes
cabinet, writing table, TV unit 21, 3-seat
sofa-bed and armchair, coffee table, dinning
table and chairs, table and chairs for balcony,
curtains thick and thin; bed linen-3 sets
per berth, kitchen utensils set for 6 persons,
art reproduction, with assembled outlets for
cable TV and telephone, with mounted lights,
air-conditioners;
- bedroom bed 164/200 cm (or
two beds 90/190), bedside cabinets, three
section wardrobe with mirror, dressing table
with mirror, mattress, curtains thick and
thin; bed linens - 3 sets per berth, art reproduction,
with mounted lights.
/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 50% (say: fifty percent)
of the total Selling Price shall be paid until
.200
/within twelve-month period after
signing of a preliminary contract/;
4.
/say:
..
euro/, representing 20% (say: twenty 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.
