TERM AND CONDITIONS OF SALE

Please find below the acceptable terms and conditions of sale:

1) Available payment terms

• Cash (only Manager’s Check acceptable)
• At least twenty percent (20%) downpayment, 80% balance payable through Real Estate
(“RELA”)/Metrohome Financing, evidenced by an approved and duly signed Letter of
Guaranty submitted to the Bank.
• At least thirty percent (30%) downpayment, 70% balance payable through other
Bank/financial institution take-out, evidenced by an approved and duly signed Letter of
Guaranty submitted to the Bank.
Note:
• For those properties with infirmities (i.e. subject of a case, no possession, the only
acceptable payment term is CASH)
• All payments made shall be considered as option money and applied as payment on the
Property as and when the Deed of Sale is executed
• For Real Estate (“RELA”)/ Metrohome Financing / Other Bank/Financial institution take-out,
buyer shall coordinate and send document requirements directly to the Lending Units/ Other
Banks /Financial institution for the processing of loan application. The loan shall be subject
to independent approval by the lending/ other bank/financial institutions and payment of
regular processing fees and taxes. In case of loan disapproval, balance is payable in CASH.
Buyer

2) Sale of the property is on an “AS IS AND NO RECOURSE” basis. The Bank makes no warranty
whatsoever as to the boundaries, area, restrictions, possession issues and technical description
of the Property, its legal condition such as the existence of any annotations, claims, suits or
actions involving the same, nor on the authenticity or accuracy of title over the Property. In this
regard, you agree to release and forever discharge the Bank from any and all actions, claims,
annotations, restrictions and demands existing or which may be imposed on the Property.

Moreover, the Buyer shall cause substitution of parties and/or withdrawal of all pending actions
and incidents as well as those which may be filed hereafter involving the Property by filing the
proper motion or pleading to effect said substitution and/or withdrawal before the proper court,
tribunal or agency; and if he fails to do so within a reasonable time, the Bank may cause such
substitution on Buyer’s behalf at the latter’s expense. In all instances, the legal expenses
incurred or to be incurred in the case or cases related to the property abovementioned shall be
for the sole account of the Buyer.

After the execution of the Deed of Absolute Sale, consequently, the Bank shall not be under any
obligation to defend or prosecute any pending case involving the Property or any case involving
the Property which may thereafter be filed or instituted. However, in any case, all legal expenses
upon execution of the Deed of Absolute Sale are for Buyer’s account.

3) Requirements
For Individual
• Duly accomplished Acquired Asset Buyer’s Profile (attached)
• Source of Funds
Ø If employed – BIR Form 2316 and Certificate of Employment and Compensation
(COEC)
Ø If business – Business Registration, latest Financial Statement and Bank Statement
• Tax Identification Number (i.e TIN ID, BIR Form 2316 or verified BIR Form 1904)
 • One (1) valid ID with picture and 3 specimen signature (i.e. Driver’s license, passport,
SSS or TIN ID)
• BIR Form 2307
• Marriage Certificate (if applicable)
• Community Tax Certificate of the current year

For Corporation
• Duly accomplished Acquired Asset Buyer’s Profile of the company and Personal
Information Sheet of the authorized signatory (see attached forms)
• Copy of SEC registration, current General Information Sheet, Articles of Incorporation
and By-laws filed with the SEC
• Duly notarized Secretary’s Certificate approving the purchase of the Property and
authorized signatories thereto
• General Information Sheet (GIS) and Personal Information Sheet of Principal
stockholders who owns 20% and more.
• Source of funds and nature of business of the company
• Audited Financial Statement (AFS) current year
• Copy of BIR Form 1903
• BIR Form 2307 (see attached)
• Community Tax Certificate of the current year
• Copy of one (1) valid ID with picture and signature (i.e. Driver’s license, passport, SSS
or TIN ID) of the Authorized Signatory and Corporate Secretary

4) The following taxes, fees and charges shall be for your account;
• Any Creditable Withholding Tax (“CWT”) assessment in excess of the CWT computed based
on the Purchase Price. The Bank shall shoulder only CWT based on the Purchase Price and
business tax, if any on the transaction
• Documentary Stamp Taxes (“DST”)
• Donor’s Tax for transaction where zonal value is higher than purchase price, shall be
collected as non-refundable contingent liability.
• Additional assessments for CWT and DST which may be later on assessed by the BIR on
the sale (due to revisions in market / zonal value), which are over and above the amount
computed based on the Purchase Price, including all penalties and surcharges assessed
and arising from your late remittance to the Bank
• Notarial fee (payable per document)
• Real property taxes, homeowners and association dues and other assessments on the
Property starting from the earlier of date of turnover of possession or date of Deed of sale,
which were already paid or advanced by the Bank
• All taxes, fees, charges and expenses related to removal of annotations (required for the
loan), registration and transfer of title
• All expenses related to correction of deficiencies on the Property, including but not limited to
geodetic/relocation surveying, legal expenses, eviction of illegal occupants etc., if any
• Miscellaneous and processing fees

Note: For properties with Purchase Price of P300,000 and below, any and all taxes, shall be for
account of the Buyer.
5) Title transfer, turnover of possession and development of the Property shall not be allowed until
the Deed of Absolute Sale has been executed.
Note: In case of other bank/financial institution take-out, the turnover of possession and
development of the Property shall only be allowed upon release of loan proceeds and full
payment of Purchase Price

6) Transfer of title and tax declarations shall be for Buyer’s sole responsibility. The Bank shall
furnish Buyer with a copy of the duly notarized Deed of Absolute Sale, the original TCT,
photocopy of tax declarations in the name of the Bank, tax receipts and other pertinent
documents.

7) Standard deadlines on sale consummation:

a) Full payment or downpayment (if under
REL or MetroHome Financing or
Commercial Loan or
bank/financial institution take-out)
b) Submission of Complete Documents
required for sale/loan
c) Payment of Buyer’s share of CWT and
DST
d) Payment of Buyer’s share of property
taxes, homeowners/association dues
and other expenses on the Property
e) Payment of notarial fee (P300 per
document)
Deadline
7 days from Conditional Notice of Approval
other
7 days from Conditional Notice of Approval
On or before execution of Deed of Absolute
Sale
On or before execution of Deed of Absolute
Sale
On or before execution of Deed of Absolute
Sale

8) In the event the Property is being leased, Buyer shall assume the obligations of the Bank under
the lease contract/s. A Deed of Assignment shall be executed upon execution of Deed of
Absolute Sale.

9) The Bank is entitled to conduct whatever investigation it determines to be appropriate (i.e.

background investigation, court case checking, credit investigation, etc.) over the Buyer of the
Property. Should there be any adverse findings on the Buyer, the Bank has the option not to sell
the Property to the Buyer.

10) Until the Bank has received the Buyer’s written conformity to the Conditional Notice of Approval,
to be issued if the offered price is acceptable, the Bank is free to bid out the Property (if multiple
offers are received) or offer the Property to other interested buyers.

11) The Indicative Selling Price is subject to change without prior notice.