|Terms and Condition of Purchase
Buyer agrees to purchase and the Seller agrees to sell for interment purposes only certain plot(s) located within the cemetery of Seller in the memorial park chosen by Buyer subject to the terms and conditions provided below.
1) Payment via PNB’s Electronic Remittance System(for Overseas Purchases)
Buyer agrees to pay the Seller in
currency the purchase price for the property or plot(s), which includes his contribution to the Perpetual Care Fund. Buyer shall see to it that payment corresponding to the aforesaid purchase price of the plot(s) shall be correctly remitted to the Seller’s deposit bank account with the Philippine National Bank based on the deposit account number indicated in the duly accomplished Pryce Gardens Payment Form.
Buyer shall shoulder the cost of remitting the said payment based on rates charged by PNB’s Overseas Branch or Remittance Center (or by PNB’s correspondent bank). Buyer is likewise aware that the cost of remittance is paid separately and is not included in the price of the plot(s) to be purchased.
Seller shall not be held liable if, through no fault of its own, the said remittance payment was not received in its deposit account. Likewise, PNB’s Overseas Branch or Remittance Center or PNB’s correspondent bank shall not be held liable for not accepting remittance payment if the Buyer is not able to present and/or submit documents that warrants further processing of remittance payment transactions. Also, it is hereby agreed that the Buyer shall hold PNB liable for claims for damages or any other liability in case of PNB's failure to credit the Seller’s deposit account or failure to record the correct amount of any remittance received.
2) Certificate of Ownership
After receipt of Buyer ’s full payment for the plot(s), Seller will convey and deliver to Buyer a Certificate of Ownership of the aforesaid plot for interment of human remains only. In view of the expenses involved, the Buyer agrees that he shall not be entitled to ask a separate TCT issued in his name for the lots bought by him. The Certificate of Ownership and the memorial plot(s) shall be subject to all Rules and Regulations and all amendments, additions and modifications is on file in Seller’s office, and is subject to inspection by Buyer at all times during normal office hours and is specifically referred to and incorporated herein as if set forth herein in full. The Buyer hereby recognizes the right of the Seller to amend the aforesaid Rules and Regulations, which are designed to ensure security, order and cleanliness in the cemetery.
3) Transfer of Ownership
Buyer may sell, transfer or assign the above described property at any time provided the entire purchase price and other charges are fully paid beforehand subject further to the rules and regulations of the Seller. All taxes and expenses on account of any subsequent document transferring ownership of the property to the transferee shall be borne by the Buyer.
4) Property Taxes
In the event the cemetery of Seller is subject to real estate tax or any special government assessment, Buyer agrees to pay Seller an amount equal to the amount of the real estate tax or special government assessment allocated pro rata to the above described property. Any tax due on account of this agreement or an account of any subsequent document transferring ownership of the property to Buyer shall be borne by Buyer. In the meantime if the said real estate tax or other assessments are not paid by Buyer, the said amount may be charged against the Perpetual Care Fund as advances for that account of the Buyer subject to the prevailing interest rate on sales installment accounts.
5) Perpetual Care Fund
It is agreed that the cemetery of Seller is operated as a perpetual care cemetery which means that a Perpetual Care Fund in the form of an irrevocable trust has been or is being established in conformity prudent cemetery management. Seller covenants with Buyer that the contribution(s) made by Buyer for perpetual care referred to above will be set aside and delivered to such trust (or to any other trust which Seller may create for the perpetual care of said cemetery) as a trust fund. The perpetual care contributions and all earnings and profits of the fund shall be applied to the cost of perpetual care of the cemetery of Seller. As used herein, the term “Perpetual Care” includes the cutting of grass upon plots, raking and cleaning of plots, pruning shrubs and trees, and the general preservation of the plots and grounds, walks, roadways, boundaries and structures, as well as the administrative and related activities occasioned thereby, to the end that said grounds shall legally exist and remain and be reasonably cared for as a cemetery ground forever. Seller may advance cost of perpetual care and apply contributions above-indicated to the payment of its advances and reasonable interest or get refund from the Trust Fund.
Only flat markers or marble conforming to the standards and specifications set forth in the rules and regulations of Seller will be permitted to mark interments in the lawn plots area. If located within a prescribed area, Buyer may also erect upon said property a memorial in the form of a monument, statue, vault, catafalque or mausoleum subject, however, to the rules and regulations now existing, or which hereafter may be adopted or amended, governing the size, placement, design and construction details of such memorial and the Perpetual Care Fund. Violation of this provision will entitle Seller to summarily remove unauthorized markers without notice and need for court approval.
7) Change of Address
Buyer accepts the fact that it is his duty to notify the Seller in writing of any change in his mailing address. It is hereby agreed that the mere sending of letters, notices, communications, demands, summons, notices or orders of the Court, or papers of whatever kind or nature to the address indicated in the Buyer’s Customer Reference Document or any address subsequently submitted in writing by the Buyer to Seller, either by personal service or by registered mail, shall constitute proper, valid and effective service for all legal intents and purposes. The fact that the Buyer did not actually receive such notice, orders, summons or communications or the same has been returned unclaimed or that no person is found at said address, or said address is fictitious or cannot be located shall not excuse or relieve the Buyer from the effect of such notice, orders, summons, or communications.
8) Extension of Terms & Conditions to Heirs/Successors
The terms and conditions hereof shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of the respective parties thereto. As used herein, the singular includes the plural and the masculine includes the feminine. The obligations and liabilities of Buyer(s) hereunder are joint and several.