This contract is made and entered this………../ (………….) between:
……., citizens of ….., hereinafter referred to as the “VENDEE”, and
"Hanroc Developments" LTD, with head office and address of the Administration office, town of Varna, 72 “Makedonia”, Str. registered in the Commercial registry of the Varna Court of Justice under company case No. 5219/2006 year, BULSTAT 124690201, represented by its manager Mr. Martin Dichev from the town of Varna, with Personal Identification Number 7609307923, hereinafter referred to as the “VENDOR”
Jointly and severally referred to as “PARTIES” and “PARTY” respectively
Art.1 (1) Vendor shall be obliged pursuant to the provisions and the price herein agreed to transfer to Vendee or to a legal indicated by him/her or to a natural person, the right of building as regards APARTMENT No …. on the ….Floor, of Forest View in an apartment building located in Govedartsi, intended for construction in an unbuilt regulated landed property, hereinafter referred to as the “PLOT” or the “LAND”, , marked as per a map under No. IIII ( three), in quarter 83 (eighty three), with plan numbers № 930 ( nine hundred and thirty), № 931( nine hundred thirty one) and № 933( nine hundred thirty three), as per the active regulation plan of the village of Beli Iskar, municipality of Samokov.
The Apartment (hereinafter referred to as the “PROPERTY”) is of …….sq.m. (……. ) build-up area, and total parts of the building equal to ….. sq.m.( ……) with neighbors and boundaries: apartment №…. from the left hand site and apartment №….. from the right hand site on the same floor and consisting of: …….ony.
(2) The building wherein the object under this contract is
located shall be erected by Vendor personally or through his subcontractors against a payment as agreed herein and in compliance with all approved architectural projects , and fulfillment of all building safety and quality regulations as per the existing Bulgarian legislation. The building must be provided with Completion Form 15 for completion of construction works until April 2009.
(3) The title deed for the establishment of a real right of building as per Art.1 (1) of this contract, shall be effected after the amounts due therefor as per Art.2 (2) have been fully and completely paid.
(4) For that part of the plot which shall remain unbuilt as per the building project under Art.1 of this article, and shall not represent total parts within the meaning of the Ownership Act, Vendor shall remain free to make improvements, construction and other acts without Vendee’s consent as long as this does not obstruct in the discharge of his duties under this contract.
(5) Vendee declares that he agrees that Vendor dispose of his portion of the ownership right on the building /including as a right of building or unfinished mode/ referred to in Art.1 of the contract, as well as to transfer the whole or part of his ownership right and other real rights to third parties; to raise a mortgage thereon or to grant it on lease at prices and under conditions as he shall deem proper as long as this does not obstruct in the discharge of his duties under this contract.
(1) The agreed price for the establishment of a real right of building for the property shall be in the amount of …..EUR (…….)
(2) The agreed price of the building service according to Paragraph 2 , Art.1 of this contract shall be in the amount of ….Euro (…..)
(3) The total amount of all payments due by Vendee to Vendor under this contract shall be …..Euro …..) representing the sum of the above prices of the establishment transaction and building service.
(1) The agreed price of the real right of building should be paid by Vendee to Vendor as follows:
1. First installment of the price of the real right of building in the amount of ….. EUR (…..) should be paid not later than ……from which the sum of 1000 EUR (one thousand) paid earlier should be deducted.
2. Second installment of the real right of building in the amount of …….EUR ( …..) not later then 14 ( fourteen) days after completion of foundation.
(2) The agreed price of the building services should be paid by Vendee to Vendor as follows:
1. First installment of the price of the building services in the amount of ….. EUR (…….) not later then 14 ( fourteen) days after completion of foundation.
2. Second installment of the price of the building services in the amount of ….. EUR (…….) not later then 14 ( fourteen) days after completion of the roof.
3. Third installment of the price of the building services in the amount of ….. EUR (…...) not later then 14 ( fourteen) days after obtaining Completion Form 15.
(3) Vendee should make the payments under this contract in accordance with the means and order of payment agreed in this article, by explicitly indicating the reasons therefor. In view of both parties’ commutation of obligations and their mutual interest in entering into the final contract of establishment of a real right of building, Vendor and Vendee agree that in case of an effected payment for which no reason has been stated, the oldest liabilities shall be redeemed first, respectively the liabilities for the establishment of a real right of building.
Art.4. Means of payment (1) The payments under this contract shall be transferred on the following bank account: