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Shenzhen Real Estate Purchase & Sale Contract(Presale)Formulated by Urban Planning and Land Resources Bureau of Shenzhen Municipality Shenzhen Real Estate Sales & Purchase Contract S ( ) FYM Zi () No. XXXXSeller (hereinafter referred to as Party A): China Vanke Co., Ltd. Address: XXXX Shenzhen Tel: XXXXXXLegal Representative: XXXX Post: PresidentID Card/Passport No.: XXXXXXXAgent: , Nationality: , Tel.: ID Card/Passport No.: Address: Buyer (hereinafter referred to as Party B):Name: XXXXX, Nationality/Birthplace:China , Tel: XXXX ID Card/Passport No.: XXXX Address: XXXX, Shenzhen City Legal Representative: , Post: ID Card/Passport No.: Agent: Nationality: Tel.: ID Card/Passport No.: Address: (Seal) Having applied to register the land and house property.Article 1 This contract is formulated according to the laws and regulations of the Peoples Republic of China as well as the Regulations of Shenzhen Special Economic Zone on Transfer of Real Estate. Article 2 Party A, who has signed the SDH Zi(91) No. XXXX Contract for Transfer of Land Use Right with Urban Planning & Land Resources Bureau of Shenzhen Municipality (hereinafter referred to as the Urban Planning & Land Resources Bureau), has obtained the use right of the land lot numbered XXXX and located at XXXX, Luohu District. The land lot covers an area of 4800 square meters. It shall be used for comprehensive building purpose; the land use term is from August 18, 1991 to August 17, 2041, which is 50 years in total; the ownership of the land belongs to the Peoples Republic of China, and the land lot has be conferred with Real Estate Title Deed numbered SFD Zi No.XXXX. Party A has developed with approval the real estate project named Lijing Building on the land lot mentioned above. The main buildings of the project which features frame structure is newly-built. The Building has 29 floors in total. Now the flats in the buildings are to be sold in advance with approval and the No. of permit for real estate pre-sale is No. (1992)XXXX and the No. of Permit for Commercial Residence Export Sale is No. (1994)XXXXArticle 3 Party B voluntarily agrees to buy Flat XXXX of the abovementioned real estate projects from Party A. The flat is on theXth floor of the building and its construction area is 162.08 square meters, consisting of actually-usable area of 135.34 square meters and shared area of 26.74 square meters. Article 4 Party A and Party B both agree that the sales price of the said real estate shall be HK$11,954Yuan/square meter (construction area). So its total price shall be HKD One Million, Nine Hundred and Thirty-seven Thousand, Four Hundred and Seven Yuan Only. Article 5 Party A entrusts The Peoples Construction Bank of China to collect and supervise the funds resulting from selling real estates in advance. As engineering supervision institute of this project, Shenzhen Branch of China Building Design Consultation Company shall guarantee to fulfill the agreement among the three parties on the supervision of the funds resulting from selling real estate in advance. Party B agrees to remit the payment for the subject real estate to the above mentioned collecting institution in the way specified in Appendix _1_. The name and A/C No. of the institution collecting the funds is as follows: Name: Railway Sub-branch of The Peoples Construction Bank of China_ A/C No.: XXXX Article 6 Where Party B fails to pay the money in time according to the appendix _1_ specified in Article 4 herein, Party A shall be entitled to collect liquidated damages from Party B. If the payment that Party B has already made for the procurement of the real estate exceeds 50% of the total price of the subject real estate, Party B shall pay Party A liquidated damages of the unpaid amount in conformity with the regulations of the Peoples Bank of China on the late payment. If the payment that Party B has already made for the procurement of the subject real estate does not exceed 50% of the total price of the subject real estate, Party B shall pay Party A liquidated damages at _3_% of the total price. Where the payment is delayed for more than 60 days, Party A is entitled to unilaterally terminate this contract and resell the real estate to others after canceling the contract. Where the resale price is not enough to compensate for the liquidate damage prescribed in this article, Party A may deduct the insufficient amount from the payment made by Party B, but the excess profits from the resale of the real estate shall belong to Party A. Article 7 The qualified real estate as mentioned above shall be handed over by Party A to Party B on October 31, 1994 Article 8 Where Party A fails to hand over the subject real estate to Party B before the time limit specified above, Party A shall pay liquidated damages to Party B at the rate of 0.03% of the total price of the subject real estate per day for delay. If the handover is delayed for more than 30 days, Party B shall have the right to unilaterally terminate this contract, in which case Party A shall refund all the payments Party B has made including interest within 10 days. If Party A fails to do so, Party A shall pay liquidated damages to Party B at a rate of 0.03% of the total house price per day for delay. If the Party B suffered losses because of Party A, Party A shall afford the liabilities for damages.Article 9 In the event of force majeure like fire, earthquake, flood and war or other special reasons, Party A may delay the handover date of the real estate or both sides terminate the contract through negotiation. Where Party A delays the date of handover, Party A must obtain the proofs and certificates from relative authorities of Shenzhen Municipality. Article 10 The real estate sold by Party A to Party B can be handed over to Party B only after the construction works are completed according to the building drawings approved by Urban Planning and Land Resources Bureau of Shenzhen Municipality on August 12, 1992, the works are inspected and accepted as qualified by competent construction engineering authority of Shenzhen city, the water, road, and electricity is available, and the Completion Acceptance Certificate is obtained. Article 11 Where the actual construction area of the real estate handed over is more than 2% less than the area specified herein, Party B shall have the right to require Party A to compensate for the loss in double. Besides, if the decoration of the real estate handed over does not meet the standard specified herein, Party B shall have the right to ask Party A to pay compensation for double price difference. Article 12 After Party B pays off the price of the subject real estate in full, Party A shall issue a certificate of full payment to Party B. Article 13 After the subject real estate is handed over; Shenzhen Vanke Property Management Company will take charge of the real estate management before the owners committee selects and engages a real estate management company. Party B shall voluntarily abide by the property management regulations. Party A shall be liable for warranty for the subject real estate for one year as of the date on which the real estate is handed over to Party B. Should the real estate suffers damages not due to Party As fault, Party A may help to repair the real estate at Party Bs cost. Article 14 Party A shall, within 90 days after receiving the Completion Acceptance Certificate regarding the real estate, notify Party B in writing so that they will jointly apply for real estate ownership transfer with the real estate registration authority of Shenzhen Municipality (hereinafter refers to Urban Property Registration Authority). After certificate is obtained for ownership transfer, Party B shall enjoy the right to occupy, use, benefit from and dispose the subject real estate according to law. Article 15 Where, due to Party As fault, Party B does not obtain the real estate title deed within the statutory time limit, from 120 days after Party A obtains the completion acceptance certificate of the subject real estate, Party A shall pay rental to Party B according to the guidance on rental standards formulated by the citys housing rental management authority until the real estate title deed is obtained from the urban real estate registration authority.Article 16 The No. XXXX land lot where the subject real estate sold by Party A to Party B is located as well as its public facilities are jointly owned by the real estate owners in the region, and Party B shall undertake relevant obligations according to the area he shares for the subject real estate he buys. Article 17 Party A shall reserve and enjoy the rights and interests listed in appendix 4. Article 18 Party B shall, after getting the real estate property from Party A, pay land use fees according to the citys relevant regulations. Article 19 Where both parties or either Party A or Party B is the overseas organization or individual, the contract shall be notarized by Shenzhen Notarization Authority. Article 20 Upon handover of the subject real estate, Party A shall provide Party B with a duplicate of the Contract for Transfer of Land Use Right, at which time the rights and obligations specified in it are transferred accordingly too. Article 21 Party A shall have this contract registered and recorded by Shenzhen real estate registration authority within 7 days after it comes into effect. Article 22 Party A and Party B may specify other terms and conditions in Appendix 5 which must be affixed with signatures and seals of both parties. Article 23 Party A and Party B shall negotiate with each other to settle disputes arising from the performance of this contract. Where no agreement is made, the case may be brought to Peoples Court for jurisdiction.Article 24 The appendix 1, 2, 3, 4, 5 and attached drawing 1 are part of this contract. Please fill out this contract with ink pen. The words filled out shall have the same legal force as the printed words. Article 25 This contract and its appendix 1, 2, 3, 4, 5 and attached drawings are in _12_ pages. They are prepared in 3 original copies, of which Party A, Party B and the notary office (in the event of foreign buyer or seller), and the urban planning, land and resources bureau shall hold one respectively that has the same legal force.Article 26 This contract shall come into effect as from the date on which it is duly signed. If one party or both parties hereto is foreign organization or individual, it shall come into effect as from it is notarized by Shenzhen Public Notary Office. Party A (Signature/Seal): Party As Agent (Signature): August 19, 1996Party B (Signature/Seal): Party Bs Agent (Signature): August 19, 1996Appendix 1: One-off payment for purchase of real estate during the construction period The entire payment for purchasing the subject real estate shall be made in full upon conclusion of this contract, totaling HKD One Million, Nine Hundred and Thirty Eight Thousand, Nine Hundred Yuan. The Buyer may enjoy a _ percent discount of the total price. (Seal) China Vanke Co., Ltd. Appendix 2: The payment for purchase of real estate shall be paid off in _ installments during the construction period. 1. Within _ days after this contract is concluded, the buyer shall pay _% of the total price to the Seller that is RMB/HKD_. 2. Prior to date _, the buyer shall pay _% of the total price to the Seller, which is RMB/HKD_. 3. Prior to date _, the buyer shall pay _% of the total price to the Seller, which is RMB/HKD_.4. Prior to date _, the buyer shall pay _% of the total price to the Seller, which is RMB/HKD_.5. Prior to date _, the buyer shall pay _% of the total price to the Seller, which is RMB/HKD_. Or buyer shall complete the formalities for mortgage loan from bank prior to the date and make the payment accordingly. Appendix 3: Decoration Standards: 1. Exterior wall: High-class Japanese Luxury Metal Wall Brick 2. Interior wall: The hall and the room is painted with Xide Latex, the bathroom and kitchen with Roman Ceramic tile including the roof 3. Ceiling: The bedroom is painted with Latex, the kitchen and bathroom of waterproof m
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