La Mesa Gardens Condominiums - Proposal
La Mesa Gardens Condominiums - Proposal
La Mesa Gardens Condominiums - Proposal
A. BACKGROUND
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:
TOTAL 340,000,000.00
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
COLLATERAL
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.
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.