La Mesa Gardens Condominiums - Proposal

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AMPARO CONDOMINIUMS

A. BACKGROUND

The 3,368 sq m. Property is located in the heart of Caloocan City in Rotonda


Amparo Village, outside the La Mesa Dam. It is near SM Fairview, Fatima Univesity,
Lagro Market, San Lorenzo Hospital and the site for the MRT 7 stations.

The Property is owned by a Developer, Sacred Heart Industrial Supply and


Trading, Inc. which is owned by the family of Mr. Vicente Amparo. However, due to his
frail health condition, he failed to continue this project after the first building was put up.
Now, the site still has 1 existing building leased to several tenants. The remaining of
the site is undeveloped.

Almatel Construction Corporation took over the project and bought the property
including the building. Mr. Alfredo Tupas, owner of Almatel Construction, already
posted post-dated checks to cover the whole amount. The sale was covered by a Deed
of Absolute Sale with the terms of 50M as down payment and the remaining through
instalments. Payment of the initial down payment is still pending.

The Amparo family agreed to turn over all the documents and start all the
transfer, documentation and construction of the site upon payment of the 50M down.

Once acquired, Almatel plans to re-design the whole construction plan. Almatel
plans to do the following:

a. increase the number of storeys from 4 to 15 storeys which will contain


approximately condominium 250 units.
b. Allot 3 storeys for parking which will likewise be sold.
c. build a clubhouse with pool and condominium amenities in all fourth floors
of the buildings annexed to each other to save space.

B. COST OF THE PROJECT (APPROXIMATE)

3,368 SQ M. PROPERTY + EXISTING BUILDING 140,000,000.00

CONSTRUCTION COST FOR THE WHOLE PROJECT 200,000,000.00

TOTAL 340,000,000.00

C. RETURN OF INVESTMENT (APPROXIMATE)

1ST BUILDING (100 UNITS @ 1M PER UNIT) 100,000,000.00


2ND BUILDING (250 UNITS @ 1M PER UNIT) 250,000,000.00
3RD BUILDING (250 UNITS @ 1M PER UNIT) 250,000,000.00
4TH BUILDING (250 UNITS @ 1M PER UNIT) 250,000,000.00
TOTAL 850,000,000.00
COST 340,000,000.00
GRAND TOTAL 510,000,000.00

D. OFFER OF TERMS

Please note that all terms are negotiable. The terms below are mere proposals
of the basic terms of either of the two options.
1. LOAN

LOAN AMOUNT 150,000,000.00

COLLATERAL

a. THE 3,368 SQ M PROPERTY (4 titles)


b. 100 CONDOMINIUM CERTIFICATES FOR THE 100 UNITS IN THE 1ST
BUILDING

INTEREST 8% PER ANNUM

PAYMENT:: PAYABLE IN THREE YEARS (FREQUENCY SUBJECT TO


AGREEMENT)

* WILLING TO ISSUE POST DATED CHECKS TO COVER SUCCEEDING


PAYMENTS

2. JOINT VENTURE AGREEMENT

CORPORATION A will:

A. Purchase the property and transfer under its name at same cost from the
original buyer.
B. Finance the Construction of the whole project.

Share: 60% of all net proceeds

ALMATEL CONSTRUCTION CORP. will:

A. Prepare the Plan subject to agreement of the other party.


B. Conduct the Construction of the whole project.
C. Sales and Marketing of the units.

Share: 40% of all net proceeds

The terms above are all basic terms and are all subject to negotiations and
agreement of both parties. Should the proposal and terms be acceptable or at least
interesting, we can set a meeting with Almatel Construction for further negotiations.

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