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BETWEEN: INVERSIONES
DIMERCA, S.A., a commercial entity organized and
existing under the laws of the Dominican Republic,
with its principal corporate domicile located at
Block G, Building 170, Apartment 2-A, Villa Olímpica
sector of this city of Santiago de los Caballeros,
Taxpayer No. 1-30-29837-8, duly represented by its
President, MICHAEL ALLEN WILLIAMS, a USA citizen, of
full age, bearer of passport no. 215712082,
domiciled and resident in the United States of
America, and accidentally in this city of Santiago
de los Caballeros, hereinafter called, for legal
purposes of this agreement, as THE SELLER; and
_____________, a
Canadian citizen, of full age, bearer of passport
number ______, domiciled and resident in Canada, and
accidentally in this city of Santiago de los
Caballeros, hereinafter called, for legal purposes
of this agreement, as THE PURCHASER.
WHEREAS: THE SELLER,
pursuant to Deeds Certificate Number 1500003249,
dated October 7, 2008 is the owner of Parcel No.
985, Cadastral District No. 5, of the Municipality
of Luperon, Puerto Plata, Dominican Republic;
WHEREAS: THE SELLER
is developing the above indicated portion of land
for urbanizing purposes, and therefore had applied
for the mandatory permits required by law and
enforceable resolutions before the corresponding
authorities.
WHEREAS: THE SELLER
had filed a petition to the land court of its
jurisdiction in order to obtain the approval of the
sub-division of Parcel Number 985, Cadastral
District Number 5 in plots and blocks in accordance
to the blue prints prepared to such effect by the
authorized surveyor.
WHEREAS: THE SELLER
is promoting the selling of such lots and plots as
indicated in the blueprints, which, once approved by
resolution of the land court, and upon execution of
the final purchasing and selling agreements, will be
recorded at the Registrar of Deeds of the
jurisdiction of the Province of Puerto Plata
WHEREAS: THE
PURCHASER acknowledges, in accordance with THE
SELLER’S declaration, that at the time of
subscribing this document THE SELLER cannot provide
the final Deeds Certificate for being engaged in the
above described administrative process, and
therefore making not possible until the conclusion
of such process the execution of the definitive
purchase and sale agreement.
WHEREAS: THE SELLER
hereby warrants THE PURCHASER the delivering, free
and clear of any lien, the deeds certificate that
corresponds to the lot subject to this selling
promise.
WHEREAS: THE SELLER
also warrants THE PURCHASER that it will provide
water and electricity to THE PURCHASER’S lot.
THEREFORE, and in
the understanding that this preamble is an integral
part of this agreement,
THE PARTIES HAVE
AGREED AND CONVENED THE FOLLOWING:
FIRST: THE SELLER
hereby grants all ordinary and lawful securities and
options to THE PURCHASER for the selling of the
aforementioned real estate, property of THE SELLER,
pursuant to the provisions hereinafter indicate and
detail:
Within Parcel No.
985, of the Cadastral District No. 5, of the
Municipality of Luperon, Puerto Plata, a portion of
land with an area of _____________ square meters
(________ mts2), corresponding to Lot No.
_____, located at Block _____.
SECOND: The selling
price has been convened and agreed between the
parties in the amount of
________________________________ U.S. dollars
(US$________________________), amount that THE
SELLER acknowledges having received at its entire
satisfaction, in the understanding that the amount
received by THE SELLER from THE PURCHASER
constitutes the total amount of the real estate
option, and, therefore, at the time of signing the
final selling agreement corresponding to the portion
of land, THE PURCHASER shall have no other expenses
due.
Paragraph: It is
understood between the parties that the selling
option has a provisional character until survey
boundaries and sub-division technical works have
been finished and, therefore, the Deeds Certificate
of Lot No. ______, Block _________ is obtained. As
consequence of the resolution dictated, the area may
be subject to minor adjustments.
THIRD: THE SELLER
justifies its right over the property subject to
this selling option by Deed Certificate Evidencing
Letter No. 1500003249, issued on its behalf on
October 7, 2008, by the Registrar of Deeds of Puerto
Plata.
FOURTH: Once
obtained the deed certificates of the parcel
indicated, THE SELLER shall authorize the Registrar
of Deeds of Puerto Plata to perform the
corresponding transfer of title in favor of THE
PURCHASER.
FIFTH: The parties
cancel any other previous instrument related to the
object of this agreement.
DONE AND SIGNED in
two (2) originals of the same tenor and effect, one
for each of the parties, by THE SELLER in the city
of ___________________________, as of the
______________ day of the month of _______________
of the year two thousand nine (2009); and by THE
PURCHASER in the city of
___________________________, as of the
______________ day of the month of _______________
of the year two thousand nine (2009).
____________________________
____________________________
MICHAEL
WILLIAMS
[NAME]
By INVERSIONES
DIMERCA, S.A. PURCHASER
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