GRASSRESIDENCES MASTERDEEDANDDECLARATIONOFRESTRICTIONS
LETEVERYONEKNOWTHAT:
TheMa TheMast ste er Deedan eedandDe dDecl cla arati ration on of Res Restri tricti ctions, ons, here hereiinaft nafter er refe referr rred edto to asMASTERDEED,forbrevity,whetherthereferenceistotheMasterDeedorto theDeclarationofRestrictionsorboth)madeandexecutedinPasayCity,onthis 20thdayofOctober, day ofOctober, 2008bySM 2008by SM DEVELOPM DEVELOPMENT ENT CORPORAT CORPORATION,acorporati ION,acorporation on dulyorganizedandexistingunderandbyvirtueofthelawsofthePhilippines, withprincipalplaceofbusinessandoficeat10 thFloor,OneE-comCenter,Mall of Asia Complex, Pasay City, represented herein by its duly authorized repr repres esen enta tati tive ves, s, ROGE ROGELI LIO O R. CABU CABUNA NAG G and and JO JOSE SE T. GABO GABONZ NZA, A, here herein inaf afte ter r referredtoasthe“DECLARANT”,u referredtoasthe“DECLARANT”,unlessotherwi nlessotherwisespeciied. sespeciied. WhichSetsForthThat:
WHEREAS, the DECLARANT is the Developer of a parcel of land (herei (hereinaf nafter terref referr erred ed to as the“Pr the “Prope operty rty”) ”) covere covered d by Transf Transfer er Certi Certiica icates tesof of TitleNo(s). N-320819oftheRegistry ofDeeds ofQuezonCity ofQuezonCity registere registeredunder dunder thenameofSMDEVELOPMENTCORPORATION thenameofSMDEVELOPMENTCORPORATION(hereafter,“theTitle”),acopy (hereafter,“theTitle”),acopyof of AnnexA. whichisattachedheretotoas AnnexA. WHEREAS,theDECLARANTdesirestosubmittheabove-describedparcel of land land incl includ udin ing g the the buil buildi ding ng and and othe other r impr improv ovem emen ents ts cons constr truc ucte ted/ d/to to be constr construct ucted ed therei therein n under under the operat operatio ion n of Republ Republic ic Act No. No. 4726, 4726, otherw otherwise ise knownastheCondominiumAct,andPresidentialDecree957,otherwiseknown astheSubdivisionandCondominiumBuyer’sProtectiveDecree,tobeknownas GRAS GRASS S RESI RESIDE DENC NCES ES ther thereb eby y cons consti titu tuti ting ng said said prop proper erty ty as a Cond Condom omin iniu ium m Project Project (hereinaf (hereinafter terrefer referred redto to as the“Proj the “Project”)pursuant ect”)pursuant to theprovi the provision sions s of saidAct/s. WHEREAS, the DECLARANT desires to impose on the proposed Projec ject thus thus consti constitut tuted, ed, mutua mutually lly benei beneicia cial l restri restricti ctions ons which which shall shall consti constitut tute e a lien lien upontheland,upon uponthe land,uponeachCondominiumUnit eachCondominiumUnittherein(hereinafterreferred therein(hereinafterreferred to as “unit”)andupontheProjectasawholepursuanttotheprovisionsofSection9 ofsaidCondominiumAct,forthepurposeofenhancingandperfectingthevalue, des desira irabili bility ty and and attr attrac acti tiv venes eness s of the the Proje roject ct; ; and and for for the the ownersh ership ip and and maintenance of the common areas and facilities by forming a private corporationtowhichshallbedelegatedandassignedthepowersanddutiesof maintain maintaining ingand andadmin administe istering ring the common common areasand areas and facilities facilities,, enforcing enforcing and admini administe sterin ring g this this MASTER MASTER DEED, DEED, collec collectin ting g and disbur disbursin sing g the assess assessmen ments ts andchargescreatedhereunder. NOW,THE ,THEREFORE, forandin randin considerationof theabo eabovepre epremises, the DECLAR DECLARAN ANT T herebysubmi herebysubmits ts theaboveparcels theaboveparcels of land land and the improv improveme ements nts construct constructed/to ed/to be construct constructed edthere therein into to thecond the condomin ominium iumformof formof ownership ownership
anduse and use,, subjec subject t to thepro the provis vision ion of the Condom Condomini inium umAct Actandthe andthe condit conditio ions, ns, covenant covenants,terms,declarati s,terms,declarationand onandrestr restricti ictionsherein onsherein below setforthand other other pertin pertinent ent laws. laws. The units units and common common areas areas compri comprisin sing g the said said Projec Project t are heldandshallbeheld,transferred,conveyed,sold,hypothecated,encumbered, mort mortga gage ged, d, used used,, leas leased ed,, occu occupi pied ed,, and and impr improv oved ed subj subjec ect t to the the cove covena nant nts, s, conditions, and restrictions speciied in this MASTER DEED. All of said covenants,conditions,and covenants,conditions,andrestrictionsshallrunwithth restrictionsshallrunwiththeparcelsofland,project, eparcelsofland,project, unit units, s, comm common on area areas, s, and and shal shall l be bind bindin ing g as volu volunt ntar ary y lien lienss on all all part partie ies s having having or acquir acquiring ing any right, right, title, title, or intere interest st in the parcel parcels s of land, land, projec project, t, unit units, s, comm common on area areas, s, whet whethe her r as sole sole owne owners rs,, proj projec ect, t, unit units, s, comm common on area areas, s, whether whetheras assoleowners, soleowners, joint joint owners, owners,mort mortgage gagees, es,lesse lessees, es,tena tenants, nts, occupants occupants,, orotherwise. PARTI MASTERDEED SECTION1.NameoftheProject The The Proj Projec ect t shal shall l be know known n as the the GRAS GRASS S RESI RESIDE DENC NCES ES as cons consti titu tute ted d under this MASTER DEED and shall consist of the Property and all the improvementsconstructed/to improvementsconstructed/tobeconstructedth beconstructedtherein. erein. The Name of the Projec ject and the pertinent logo/design installed in the building,exteriororinterior,bytheOwner/Developermaynotbechangedand/ or remov removes,savefor es,saveformai mainte ntenan nanceand ceandrep repairpurp airpurpose ose,, bythe Decla Declaran rant torthe orthe CondominiumAssociatio CondominiumAssociation/Corporation n/CorporationortheMembers. ortheMembers. SECTION2.DescriptionoftheProject ThePr TheProj ojec ectt will beco beconstr nstru ucted cted on the the Prop Prope erty rty con consist sistiingof aparc aparcel el of landlocatedatNuevaVizcayacornerMisamis&NuevaEcijaStreets,Brgy.Sto. Cristo Cristo,, Quezo Quezon n City,with City,witha a total totalare area a of ThirtySix ThirtySix Thousa ThousandTwo ndTwo and 20/100 20/100 Square SquareMet Meters ers(36 (36,00 ,002.2 2.20 0 sq.m), sq.m), more more or less, less, andwh and which ichare are covere covered d by and moreparticularlydescribedintheTitle. The Project will be constructed in accordance with the plans and spec speci iic icat atio ions ns prep prepar ared ed ther theref efor ore e by ASYA ASYA Desi Design gn Part Partne ner, r, incl includ udin ing g such such modiicationsasmaybeacceptabletotheDECLARANTandapprovedbyproper governmentauthorities.Acopy governmentauthorities.Acopyoftheplansandspeciic oftheplansandspeciicationsis ationsisattachedhereto attachedhereto AnnexC. as AnnexC. TheDE eDECLARANT reserves therig erightto tto amend atan tany timeth ethe Titles and thedevelopmentplansbyilingsuchadditional/supplementaland/orrevised/ con consoli solid dated ated title itles s and and plan plans s or speci pecii ica cati tio ons to adeq adequa uate tely ly des describ cribe e the the Prop Proper erty ty and and the the buil buildi ding ng/s /s and/ and/or or the the unit units s rela relati tive ve to the the Proj Projec ect. t. Such Such addi additi tion onal al / supp supple leme ment ntal al and/ and/or or revi revise sed d / cons consol olid idat ated ed titl titles es and and plan plans s or speciicat speciicationswhen ionswhen iledandacknowledg iledandacknowledgedby edbytheDECLAR theDECLARANT ANT andregistered andregistered in acco accord rda ance nce with Sect Sectiion 4 of the the Con Condomi domin nium ium Act shal shall l con consti stitute tute an amendmenttothisMASTERDEED.
There shall be constructed on the Property SIX (6) buildings / towers. [Three38-storeyResidentialBuildingswith2parkingbasementseachandTwo 10-sotrey 10-sotreyPark Parking ing Buildings Buildings] ] anda and a ClubhouseOne ClubhouseOne 2-storey 2-storey PavilionBuilding PavilionBuilding]. ]. The The proj projec ect t shal shall l have have a tota total l of Five Five Thou Thousa sand nd Two Two Hund Hundre red d Thir Thirty ty Eigh Eight t (5,2 (5,238 38)) cond condom omin iniu ium m resi reside dent ntia ial l unit units. s. The The Proj Projec ect t shal shall l gene genera rate te a tota total l of SevenHundredNinetyFour( SevenHundredNinetyFour(794)parkingsl 794)parkingslots. ots. The Project shall be constructed in Phases. Include in the Phase 1 developmentaretheroadways,t developmentaretheroadways,theClubhouse,P heClubhouse,ParkingBuildin arkingBuildingAandTow gAandTower1. er1. TOWER 1 1,786 Total Residential Units 1,450 1-BR Units approximately 22.24 sq. m. – 36.53 sq. m. 250 2-BR Units approximately 45.58 sq. m. – 62.46 sq. m. 86 3-BR Units approximately 66.49 sq. m. – 69.46 sq. m. 41 Parki arking ng Slo Slots asl aslow ower erg gro roun und dl lo oor TOWER 2 1,452 209 65
1,726 1-BR Units 2-BR Units 3-BR Units
Total Residential Units approximately 22.24 sq. m. – 36,53 sq. m. approximately 45.58 sq. m. – 62.46 sq. m. approximately 66.49 sq. m. – 69.46 sq. m.
TOWER 3 1,452 209 65
1,726 1-BR Units 2-BR Units 3-BR Units
Total Residential Units approximately 22.24 sq. m. – 36.53 sq. m. approximately 45.58 sq. m – 62.46 sq. m. approximately 66.49 sq. m. – 69.46 sq. m
BUILDINGA 200 Parking Slots 6 Taralex Badminton Courts
approximately 150 sq. m. each
BUILDINGB 200 Parking Slots 1 Basketball Court approximately 800 sq. m OUTDOORPARKINGSLOTS 353 Parking Slots SECTION3.DescriptionofUnits Horizontally, each unit shall consist of the area measured (1) from the exteriorsurfaceofthewindowsormasonrywall;and/or(2)fromthecenterline oftheinteriorwalland/ordo oftheinteriorwalland/ordoorseparating orseparatingtheunitfrom theunitfromacommonare acommonarea. a. Vert Vertic ical ally ly,,each eachun unit itsh shal allc lcon onsi sist sto oft fthe hear area eam mea easu sure redf dfro romt mthe het top opof ofthe the con concret crete e lo loor to the the unde underrsid side of the the conc concre rete te cei ceiling ling up to the the poin point t of intersectionwiththehoriz intersectionwiththehorizontalboundari ontalboundariesoftheuni esoftheunit. t. SECTION4.ParkingAreas
Only Only unit unit owne owners rs are are enti entitl tled ed to purc purcha hase se a park parkin ing g slot slot at the the Proj Projec ect. t. Coro Coroll llar ary, y, a unit unit owne owner r who who sell sells s his his unit unit must must likewi likewise se sell sell hispar his parkin king g slot. slot. Furthermo Furthermore,the re,theparking parking slots slotsshall shall beusedfor be usedfortheparking theparking of motor motorvehi vehicles. cles. The The kind kind,, make make or numb number er of vehi vehicl cles es whic which h may may be allo allowe wed d in the the park parkin ing g areasatanyonetimeandtraficpatternstobeobservedbytheunitownersin enteringorleavingtheP enteringorleavingtheProjectshallberegu rojectshallberegulatedbytheDECLA latedbytheDECLARANT. RANT. SECTION5.TheCommonAreas The The Comm Common on Area Areass shal shalll mean mean and and refe refer r to the the Prop Proper erty ty,, ease easeme ment nts, s, rights rights andpri and privil vilege eges s appurt appurtena enant nt to the Proper Property, ty,and and allstr all struct ucture ures, s, facili facilitie ties s andimprovementsconstructedortobeconstructedorinstalledtherein,located within within the Proper Property, ty,and and intend intended ed to be devote devoted d to theuseand the useand enjoym enjoyment ent of one, one, some some or all all of the the unit unit owne owners rs.. The The DECL DECLAR ARAN ANT T may, may, at its its disc discre reti tion on,, classi classify fythe the Common Common Areas Areasas asGen Genera eral l Commo Common n Areas,whic Areas,which h are inten intendedfor dedfor thecommonuseorbeneitofallunitownersandarenecessaryandconvenient to the the exis existe tenc nce, e, main mainte tena nanc nce e or safe safety ty of the the Proj Projec ect t and and Limi Limite ted d Comm Common on Areas, Areas, whichare whichare intend intended edfor for the exclus exclusive ive useor benei beneit t ofonl of only y oneunit, oneunit, or somesimilarlysituatedunits,totheexclusionofotherunits.Unlessthecontext clearlyindicatesotherwise,thetermCommonAreas,whenused,shallreferto bothGeneralCommonAreas bothGeneralCommonAreasandLimitedCo andLimitedCommonAreas. mmonAreas. Thec Thecom ommo mon narea areas sof ofth the ePr Proj ojec ects tsha hall llco comp mpri rise seal all lth thep epar arts tsof ofth theP ePro roje ject ct otherthantheunits,includi otherthantheunits,including,butnot ng,butnotlimitedtothe limitedtothefollowing: following: TheparcelsoflandspeciicallydescribedintheMA ribedintheMASTERDEED. STERDEED. (a) Theparcelsoflandspeciicallydesc TheClubhouseconsistingof1,101.57squarem f1,101.57squaremeters(approximate eters(approximately) ly) (b) TheClubhouseconsistingo withthefollowingdetails: Multi-purposeFunctionRoom Multi-purposeFunctionRoomA–approximate A–approximately252squareme ly252squaremeters ters Multi-purposeFunctionRoom Multi-purposeFunctionRoomB–approximately B–approximately252squaremeters 252squaremeters FitnessCenter FitnessCenter -appr -approximately150 oximately150squaremeters squaremeters Administ Administrativ rativeOf eOfices ices -ap -approxi proximatel mately150 y150squa squarem remeters eters Koi Pond - approximately 18 square meters Lou Lo ungi nging Areas reas - appr appro oxim ximatel ately y10 100 0squ squar are emet mete ers Stairsandothercommon Stairsandothercommonareas-approxim areas-approximately179square ately179squaremeters meters Theinter-connectingbridgewayattachedtothe attachedtotheSMNorthPark SMNorthParking ing (c) Theinter-connectingbridgeway buildingandleadingtothe buildingandleadingtotheParkingBuildi ParkingBuildingAofthe ngAoftheProject,thelen Project,thelength gth ofwhichisaround400met ofwhichisaround400meterselevatedatan erselevatedatanestimateofabo estimateofabout4 ut4 metersaboveground. TheSwimmingPoolsandotherameniti dotheramenitieswiththefo eswiththefollowingdetai llowingdetails: ls: (d) TheSwimmingPoolsan Intheremaining20,004.66 Intheremaining20,004.66squaremetersof squaremetersofopenareas,there openareas,therewillbe willbe anallocationofive(5)di anallocationofive(5)differentsizedsw fferentsizedswimmingpoo immingpoolsofwhich lsofwhichthe the largestshallbeolympicsized largestshallbeolympicsizedwithalength withalengthof50meters. of50meters.Thedifferent Thedifferent typesofswimmingpools typesofswimmingpoolsareasfollow: areasfollow: 1.) OlympicsizedLapPool 2.) KiddiePool 3.) PlaygroundKiddiePool 4.) WadingPool
5.) SmallerLapPool
Scatteredal Scatteredallaroun laroundtheland dthelandscape scapedgarde dgardens nsshallbesmall shallbesmallcabanaso cabanasor r pavi pavili lion ons s whic which h have have a seat seatin ing g capa capaci city ty of arou around nd 6-10 6-10 pers person ons. s. Thes These e shallbeusedforleisureloungingpurposes.Joggingpathsandmeandering hikin hiking g trails trailssha shall ll be design designate ated d along along pertin pertinent entlan landsc dscapi aping ng featur features es as well well.. Asid Aside e from from the the cove covere red d park parkin ing g buil buildi ding ngs, s, open open spac spaces es shal shall l be appropriatedaswell. beariing wall alls, foun founda dati tio ons, lo loors, rs, colu column mns, s, gird girder ers, s, beam beamss, (e) All bear supports,slabs,andallothersimilarstructuralelementsofthebuilding sharedbytwoormoreunits. However,alltheroofdecksareexpresslymadenotpartofthecommon area. (f) Allsurfacesoftheunitsfacingtheexteriorwallaswellastheinterior commonareas. (g) All hallways on all loors in the buildings, stairways, corridors, walk walkwa ways ys,, driv drivew eway ays, s, and and inst instal alla lati tion onss for for all all conv conven enie ienc nces es and and or uti utility lity ser service vicess. The The hal hallway lway in the the com commerci ercial al unit unitss is a lim limited ted commonareaforthebeneitofthecommercialunitsandmaybeused by the commer commercia cial l space space owner owners s for commer commercia cial l advant advantage age provid provided ed the egress egress anding and ingres ress s of the reside residenti ntial al unit unit owner owners s shall shall always always be respected. All installati llations onsfor forutili utility ty services services such as telephone telephoneline lines, s, sewerage, sewerage, (h) Allinsta drainageandwaterlinesincludingalloutlets,pipes,ducts,wirescables, andconduits,irealarmusedinconnectiontherewith,whetherlocated in the the comm common on area areas s and/ and/or or limi limite ted d comm common on area areas s or in the the unit units, s, whichareutilizedfor whichareutilizedforor orservemor servemorethanone(1) ethanone(1) unitand allcommon allcommon utilityspacesandareas. The othe ther part partss of the the land and and and the the bui buildi lding and and thei their r equ equipm ipment ent (i) The thereindestinedforcommonuseornecessaryandconvenientforthe existence,maintenanceors existence,maintenanceorsafetyofthePro afetyoftheProject. ject. SECTION6.RoofdecksandUnassignedAreas. The DECLARANT shall retain the ownership over the roofdecks of the buil buildi ding ngss / towe towers rs in the the Proj Projec ect, t, incl includ udin ing g the the airs airspa pace ce abov above e it. it. It is also also understoodhereinthattheDECLARA understoodhereinthattheDECLARANT NT shallretainownershipofallunass shallretainownershipofallunassigned igned portionsoftheavailableandunutilizedcommonareasoftheProject.Byvirtue of itsown its ownershi ership p over theroofdecksand allunass all unassigne igned dareas areas,,the theDECLA DECLARANT RANT shallhavesole,exclusive,and shallhavesole,exclusive,andfullauthorityand fullauthorityanddiscretionov discretionovertheuse,purpose, ertheuse,purpose, maintena maintenance, nce, andmanagementof andmanagementof thesame.Furth thesame. Further,the er,the DECLARANT DECLARANT reserves reserves the the righ right t to buil build d or cons constr truc uct t impr improv ovem emen ents ts onth on thes ese e area areas, s, such such as but but not not limitedto,storageroomsan limitedto,storageroomsandcommunica dcommunicationtowers/an tiontowers/antennas. tennas. SECTION7.TheCondominiumCorporation. TheDE TheDECL CLAR ARAN ANT T shal shallfo lform rm andor andorga gan nize theco thecon ndomi domin niumco iumcorp rpo orati ration on (the (the “Cor “Corpo pora rati tion on”) ”) in cons consid ider erat atio ion n of this this MAST MASTER ER DEED DEED,, purs pursua uant nt to the the
provisionsoftheCondominiumActandtheCorporationCodeofthePhilippines (B.P (B .P.. Blg. Blg. 68) 68) for for the the purp purpos ose e of hold holdin ing g the the titl title e to all all Comm Common on and and Limi Limite ted d Areas,managingtheProjectandforsuchotherpurposesasmaybenecessary, incidentalorconvenient incidentalorconvenienttotheaccomplis totheaccomplishmentofsaid hmentofsaidpurposes. purposes. Prior to the organization of the Corporation, the DECLARANT shall exerciseallpowersoftheCorporation.Consequently,aftertheorganizationand inco incorp rpor orat atio ion n of the the Corp Corpor orat atio ion, n, all all powe powers rs of the the DECL DECLAR ARAN ANT T as here herein in pro provide vided, d, that that reas reason onab ably ly pert pertai ain ns to the the Corp Corpo orati ratio on, unle unlesss othe therwis rwise e provided,shallnowbeexercis provided,shallnowbeexercisedbytheCorpor edbytheCorporation. ation. The Corporation, which shall hold title to the common areas in considera considerationof tionofthis this MASTER MASTERDEED DEED andotherapplicable laws,shall constitut constitute e the the mana manage geme ment nt body body of the the Proj Projec ect. t. The The Corp Corpor orat atio ion, n, thro throug ugh h its its Bo Boar ard d of Trus Truste tees es,, shal shall l mana manage ge,, cont contro rol, l, supe superv rvis ise e and and over overse see e the the oper operat atio ion n of the the Proj Projec ect. t. It shal shall l have have all all the the powe powers rs gran grante ted d to it by the the Corp Corpor orat atio ion n Code Code,, CondominiumAct,thoseexpressedintheArticlesofIncorporation,itsBy-Laws andits planof operationand operationand suchapplicable suchapplicablepowe power r orautho or authority rity asdein as deined edin in thisMASTERDEED. Corollaryto suchpow hpowerand rand authority isthe sthe power to enforce thesai esaid appl applic icab able le prov provis isio ions ns,, cond condit itio ions ns,, rule ruless and and regu regula lati tion ons s and, and, if nece necess ssar ary, y, to comp compel el comp compli lian ance ce ther therew ewit ith h for for the the comm common on bene benei it. t. The The Corp Corpor orat atio ion n may may impose ines and penalties for non-co -compliance and/or violation of said provis provision ions s witho without ut prejud prejudice ice to those those ines ines and/or and/or penalt penalties ies provid provided ed for by subs substa tan ntive tive law laws. As a matte atter r of poli policy cy and/ and/o or stan standa dard rd, , the the abo above cite cited d authorities shall not be understood, implied, or construed to grant the Corporationthepowerorauthoritytoconductabusinessormakeproitorgain advantagetoanyorallofthemembersoftheCorporation.TheCorporationmay enga engage ge mana manage geri rial al,, lega legal, l, audi auditi ting ng,, acco accoun unti ting ng and and othe other r prof profes essi sion onal al and and techn technica ical l servic services es or employ employ such such person personal al and techni technical cal servi services ces or employ employ suchpersonnelandothersin suchpersonnelandothersinthemanner themannerprovidedforin providedforinitsBy-Laws. itsBy-Laws. All unit owners in the Project shall automatically be members of the Corp Corpor orat atio ion n and and such such memb member ersh ship ip bein being g a mere mere appu appurt rten enan ance ce of the the unit unit cann cannot ot be tran transf sfer erre red, d, conv convey eyed ed,, alie aliena nate ted d or disp dispos osed ed of inde indepe pend nden entl tly y or sepa separa rate tely ly from from the the unit unit itse itself lf.. A tran transf sfer er of owne owners rshi hip p carr carrie iess with with it the the transfer transferof ofmemb membershi ership p inthe in theCorpo Corporatio ration. n.Memb Membershi ership p ismand is mandatoryfor atoryfor unit owners and this requirement and the obligation attached thereto shall constitutealienontheunit,whichshallberegisteredatthebackoftheowner’s condominiumtitle.TheinterestofeachunitownerintheCorporationshallbe equaltohisappurtenantunit’sshare,assetforthherein.Suchinterestcannotbe assigned,hypothecated,ortransferredinanymannerbyamemberexpectasan appurtenancetohisunitand appurtenancetohisunitandsubjecttothisM subjecttothisMASTERDEED. ASTERDEED. Since only natural persons can be members of the Board of Trustees, juri juridi dica cal l pers person onss such such as corp corpor orat atio ions ns and and part partne ners rshi hips ps owni owning ng unit unitss in the the Condomin Condominiummay iummay formallyassi formallyassignitsrightsand gnitsrightsand intereststo intereststo apersonaloflegal apersonaloflegal age age as its its atto attorn rney ey-i -inn-fa fact ct and and shal shall, l, for for the the purp purpos oses es of part partic icip ipat atin ing g in the the
affair affairs s of the Corpor Corporati ation, on, repres represent entsuc such h unit unit as if he is theow the owner nerand and shall shall attendmeetings,voteandbe attendmeetings,voteandbevotedforasTru votedforasTrusteeoftheCorpo steeoftheCorporation. ration. Subject to the immediately preceding paragraph, only unit owners are entitledtovoteorhavevotingrightsinanymeetingoftheCorporationwhere voti voting ng is call called ed for, for, to the the exte extent nt of his his acqu acquir ired ed inte intere rest st in the the Corp Corpor orat atio ion. n. Incorpora Incorporatorsof torsof theCorporation theCorporationwho who arenot unit owners ownersareentitled areentitled to have votin voting g rights rights only only for the purpos purpose e of organi organizin zing g the Corpor Corporati ation. on. Therea Thereafte fter, r, such such incorp incorpora orator tors s lose lose their their voting voting rights rights unless unless they they subseq subsequen uently tly becom become e unit unit owne owners rs,, or unle unless ss they they do so as the the repr repres esen enta tati tive ve or nomi nomine nee e of the the DECLAR DECLARAN ANT,the T,thelat latterbein terbeing gthelega thelegal lown ownerof erof units units that thatrem remaininits aininitsnam name. e. Thevalueofthevoteofaunitownerisequaltohisproprietaryinterestandin the electionofthememberof electionofthememberof theBoardof Trustees,Cumu Trustees,Cumulativ lativevoting evoting shall be appl applie ied. d. The The vote vote valu value e appl applic icab able le to the the tota total l numb number er may may be cumu cumula lati tive vely ly appliedtoonlyoneTrusteeorthememberthatthemembermaydecidetogive hisvote. In case of co-ownership, the co-owners shall collectively be entitled to suchnumberofvotesastheirrespectiveequityinterestcombinedcouldmuster. Intheabsenceofaproxyfromtheoth Intheabsenceofaproxyfromtheotherco-owners, erco-owners,aco-ownercanvoteo aco-ownercanvoteonlyhis nlyhis interestintheunit.Intheabsenceofprooftothecontrary,theinterestofallcoownersintheunitshallbeequal. Thet Theter ermo moft fthe heCo Corp rpor orat atio ions nsha hall llbe beco co-t -ter ermi minu nusswith withth thed edur urat atio ion nofthe ofthe Project.Nevert Project.Nevertheles heless,theCorporat s,theCorporationmaybe ionmaybediss dissolve olvedby dbytheafirma theafirmativevote tivevote of all the members thereof at a meeting duly called for the purpose in acco accord rdan ance ce with with the the requ requir irem emen ents ts of pert pertin inen ent t laws laws.. In the the even event t that that the the Corpor Corporati ation on is dissol dissolved ved,, the member memberss thereo thereof f shall shall become become co-ow co-owner ners s of the common common areas, areas,wit with h equity equity intere interest st theret thereto o corres correspon pondin ding g to their their respec respectiv tive e equityinterestintheCorporation. SECTION8.PropertyRightsofUnitOwners. Upon Upon full full paym paymen ent t of the the purc purcha hase sepr pric ice e of a unit unit,, the the unit unit owne owner r shal shall l acquiretitletoandownershipoftheunit,subjecttothetermsandconditionsof the instru instrumen ment t convey conveying ing such such unit unit from from theDECLARAN theDECLARANT T to such such unit unit owner owner andtothetermsandconditionsofanysubsequentconveyanceunderwhichthe unitownertakestitletotheunitandsubjectfurthertothisMASTERDEED.All unsoldunitsandparkingslotsandallunitsandparkingslotsnotyetfullypaid forshall forshallper pertai tain nto to andbe owned owned exclus exclusive ivelyby lyby the DECLAR DECLARAN ANT, T, and may be disposedof,leasedorusedbyD disposedof,leasedorusedbyDECLARANTin ECLARANTinamannerit amanneritdeemsbest. deemsbest. Eachown hownersha rshallhav lhave therig eright to usethe ethe commonare nareas and facilities constructedthereon.Suchrightshallbeappurtenantto,andshallpasswith,the titletoeveryunit,subjectto titletoeveryunit,subjecttothefollowin thefollowingrightsofth grightsoftheCorporation. eCorporation. The The righ right t of the the Corp Corpor orat atio ion n to esta establ blis ish h reas reason onab able le rule rules s and and (a) regulationspertainingtoth regulationspertainingtotheuseoftheco euseofthecommonareas; mmonareas; The right rightof of the Corpor Corporati ation,in on,in accord accordanc ance e with with its Articl Articles es and (b) By-L By-Law aws, s, to borr borro ow money for for the the purp purpo ose of impr mprovin oving g the the commonareas;
(c)
(d)
TherightoftheCorporationtosuspendorrestricttherighttouse thecommonareasbyanowner,foranyperiodduringwhichany assessmentagainsthisun assessmentagainsthisunitremainsun itremainsunpaidanddelinqu paidanddelinquent;and ent;and The The righ right t of the the Corp Corpor orat atio ion n to tran transf sfer er all all or any any part part of the the commonareas commonareas toanypublicagency, toanypublicagency, authorityorutili authorityorutilitysubjectto tysubjectto suchconditionsasmaybeagreeduponbythemembers.Nosuch tran transf sfer er shal shall l be effe effect ctiv ive e unle unless ss appr approv oved ed by 2/3 2/3 vote votess of the the members.
SECTION9.ObligationsofUnitOwners. Each Ea chu uni nito town wner ersh shal alla laut utom omat atic ical ally lybe beco come meam amem embe bero roft fthe heCo Corp rpor orat atio ion n with such interest or participation therein including payment of dues. MembershipintheCorporationshallnotbetransferredseparatelyfromtheunit towhichitpertainsandatransferofaunitshallautomaticallyincludeatransfer of memb member ersh ship ip in the the Corp Corpor orat atio ion. n. When When a memb member er ceas ceases es to own own a unit unit,, he shal shall l auto automa mati tica call lly y ceas cease e to be a memb member er of the the Corp Corpor orat atio ion. n. A subs subseq eque uent nt purchaser,notw purchaser,notwiths ithstandi tandingthe ngthepende pendency ncy oftransferoftitleof oftransferof titleof ownership ownership,may ,may alreadyenjoytheuseandbeneitoftheunitaswellastheresponsibilityofthe paymen payment t of dues dues provid provided ed in case case of failur failure e of the transa transacti ction on,, the regist registere ered d owner(seller)shallassume owner(seller)shallassumeanyliabilityo anyliabilityofduesoftheu fduesoftheunit. nit. SECTION10.ExtentofInterestandObligationsofUnitOwners The The unit unit owne owner r shal shall l acqu acquir ire e titl title e to or owne owners rshi hip p of such such unit unit,, (a) subjec subject t to the terms terms andconditi andconditionsof onsof theinstrume theinstrument ntcon convey veyin ing g theunitfromtheDECLARANTto theunitfromtheDECLA RANTto suchunitownerandto suchunitownerandto theterms and and cond condit itio ions ns of any any subs subseq eque uent nt conv convey eyan ance ce unde under r whic which h the the uni unit own owner tak takes titl title e to the the uni unit, and and subj subje ect furt furth her to this this MASTER DEED. Before others acquire a unit, the same shall pertaintoandbeownedexclusivelybytheDECLARANTsubjectto thetermsofthisMASTERDEED. Theunitownerwhoalsoacquiresaparkingslotshallhavetheuse (b) of theparking theparking slot slot andhisinterest andhisinterest inthePro inthe Projec ject tisincre isincrease ased d by thevalueofthepercentageallo thevalueofthepercentageallocatedtotheparki catedtotheparkingslot. ngslot. To arriveat arriveat anequitabl anequitable e partic participa ipatio tion n in the Corpor Corporati ationand onand as (c) bas basis to dete determ rmin ine e con contri tributi bution on of dues ues, the the unit unitss as well ell as parkingslotsareconsideredi parkingslotsareconsideredinthecomputati nthecomputation. on. Fromthetimethebuildingisused,activated,partiallyorinwhole, (d) and and serv servic icin ing g of comm common on area areas s is alre alread ady y impl implem emen ente ted d as it is intend intended, ed, to inclu include de janito janitoria rial, l, securi security, ty, power, power, water water and other other relatedexpenses relatedexpenses,the ,the DECLARAN DECLARANT Tshal shall lformsuchadmini formsuchadministrat strative ive andsuppo and support rtorga organiza nization tions s andinit and initiate iate charging chargingdues dues with notice notice to any unit unitow ownerwhe nerwhethe ther rtit title le has been beentra transf nsferr erredor edor not. not.The The paymen payment t of these these dues dues is mandat mandatory oryand and automa automatic ticall ally y become becomes s theliabilityoftheinitownerwhetherhehasfullypaidfortheunit ornot,andevenifthetitleisnotyettransferredinhisname.The
(e)
unit unit ownermay ownermaytra trans nsfer fer the respon responsib sibili ility tyof ofpay payin ing g dues dues to the unit unit occupa occupant nt / tenant tenantby by means means of a writte written n contra contract ct provi provided ded due due noti notice ce to the the buil buildi ding ng admi admini nist stra rati tion on is give given. n. Ho Howe weve ver, r, in case case of fail failur ure e to coll collec ect t from from such such occu occupa pant nt / tena tenant nt,, the the unit unit ownerisstillobligatedtosuchdues. Theappurtenanceinterestandobligation TheappurtenanceinterestandobligationsintheCorporati sintheCorporationshall onshall beasfollows: Percent of Interest in the condominium Corporation/Project
=
Floor Area of Unit Owned ----- ----- ---- ----- ----- ---- ----- ----- -Total Area of all Units in the Project
SECTION11.NoticeofLienorSuit. Anow nownersh ershal allg lgiv ivew ewri ritt tten enno noti ticceto the the Corpor rpora atio tionof nof ever everyl yliienu enupo pon n hisunitor rightsthere rightsthereto to (o (othe ther r than than liens liens infavor of the Corpor Corporati ation on) ) withi within n ive(5)daysafterknowledge ive(5)daysafterknowledgeoftheunitow oftheunitownerofsuchli nerofsuchlien. en. The owner shall give notice to the Corporation of every suit or other proceedin proceedings, gs,whic which hmay may affect affect thetitleto the titleto his unitor rights rightsthere thereto to within withinive ive (5)daysaftertheowneracquire (5)daysaftertheowneracquiresknowledge sknowledgethereof. thereof. SECTION12.Sale,Mortgageand/orLease. Each unit owner shall have the absolute right to sell, transfer, assign, conv convey ey or disp dispos ose e of his his unit unit prov provid ided ed,, howe howeve ver, r, that that no such such sale sale,, tran transf sfer er,, assignmen assignment,conveya t,conveyance,ordisposit nce,ordispositionofthe ionoftheunit unit shallbeallowedwitho shallbeallowedwithoutfull utfull settlement or updating of all obligations due and accounts payable and outsta outstandi nding ng to the DECLAR DECLARAN ANT T and/or and/or the Corpor Corporati ation on.. In all cases cases the unit unit ownerintendingtosellMUSTirstoffertheunitinwritingtotheDECLARANT. Theoffer shallbedeemedrejectedifno shallbedeemedrejectedifno replyis replyisgive givenbytheDECLARAN nbytheDECLARANTand/ Tand/ or the Corpor Corporati ationafterthe onafterthelap lapseof seof thirty(30) thirty(30) workin working gday days sfro from mthe the time timea a formalwrittenofferissubmitted.OncetheDECLARANTrejectsorisdeemedto haverejectedtheoffer,theunitownermayproceedwiththesaleofhisunitat thepriceofferedtoDECLARANT. Providedfur dfurther, thatno transfer of any unitsha tshallbe binding upon the Corporatio Corporationunless nunless accompanie accompanied dbya byacertiica certiicateissuedby teissuedby theCorporation theCorporation and signed by an authorized ofic icer thereof upon a payment of a reasonable proc proces essi sing ng fees fees,, that that such such tran transf sfer er is in acco accord rdan ance ce to the the prov provis isio ions ns of the the CondominiumActandthisMASTERDEED,andthatallfeesandassessmentson theunitsubjectofthesalehav theunitsubjectofthesalehavebeenfullypaid ebeenfullypaid.. Anyunit yunitow own ner maymo aymorrtgag tgageor eor lease ease his his unitto itto any any pers person on,pr ,prov oviided ded such such mort mortga gage ge or leas lease e shal shall l not not free free the the owne ownerr from from comp compli lian ance ce with with his his obligationassuchundertheCondominiumAct,thisMASTERDEED,theArticles of Inco Incorp rpor orat atio ion n and and By-L By-Law aws s of the the Corp Corpor orat atio ion n and and the the docu docume ment nts s unde under r which which heacq he acquir uired ed the unit unit (the (the “Cons “Constit tituti utive veDo Docum cument ents”) s”).. Theunit owneris owneris obliged to impose upon the mortgagee or lessee the obligation to be
contractuallyboundbytheterms,conditions,andprovisionsoftheConstitutive Documents. In all instances, the mortgagee or lessee shall be deemed privy to the ConstitutiveDocumentsandshallbeboundbythetermsandconditionsthereof notwithstandinganyagreem notwithstandinganyagreementtotheco enttothecontrary. ntrary. Each Ea chun unit itow owne ners rsha hall llbe bef fre reet eto olease leasehi hisu suni nit, t,pr prov ovid ided edth that atpr prop oper erno noti tice ce ther thereo eof, f, with with such such part partic icul ular ars s as the the Corp Corpor orat atio ion n may may reas reason onab able le requ requir ire, e, is given given to the Corpo Corporat ration ion within within ive ive (5) days days from from theeffectivi theeffectivity ty of thelease. thelease. Such Such leas lease e shal shall l not, not, howe howeve ver, r, free free the the unit unit owne owner r from from comp comply lyin ing g with with his his obli obliga gati tion on unde under r the the Cond Condom omin iniu ium m Act, Act, this this MAST MASTER ER DEED DEED,, the the Arti Articl cles es of IncorporationandBy-Lawsof IncorporationandBy-LawsoftheCorporation theCorporation,andtheHous ,andtheHouseRUles. eRUles. Incas ncasetheun etheuniit owner is delinquent in the payment of any assessment, includ includin ing g any intere interest st or penalt penalties ies thereo thereon, n, the Corpor Corporati ation on may requir require e the lessee lesseeof ofany any leased leasedunitto unitto remit directly directly inits favor favorany any andall ofthe rentals rentals accr accrui uing ng to the the deli delinq nque uent nt unit unit owne owner, r, whic which h rent rental als s shal shall l be appl applie ied d to the the deli delinq nque uent nt acco accoun unts ts with with the the Corp Corpor orat atio ion, n, irs irst t to the the inte intere rest st,, then then to the the prin princi cipa pal l unti until l the the acco accoun unt t is full fully y paid paid.. Any Any exce excess ss shal shalll be retu return rned ed to the the delinquentunitowner. SECTION13.OptionsinCasesofInvoluntaryDissolution. The Corporation shall have the option to decide, by a 2/3 vote of the membersinaregularorspecialmeetingdulycalledforthepurpose,whetheror nottoconverttheirinterestorparticipationinto nottoconverttheirinterestorpartici pationintoannundividedco-ownershipin annundividedco-ownershipin thecommonareasortosellanddisposetheentireProjectasawhole,including theirseparateinterestintheunitstherein,beforedissolutionandliquidationof theCorporationincasespro theCorporationincasesprovidedbylaw. videdbylaw. PARTII DECLARATIONOFRESTRICTIONS SECTION14.ScopeandCoverage. TheDe TheDecl clar arat atio ion n of Res Restri tricti ctions ons herei ereinst nstat ate ed,ma d,may, y,fro fromti mtim meto timebe imebe amende amended d and shall shall embody embody such such limita limitatio tion, n, easeme easement, nt, covena covenant, nt, undert undertaki aking ng and and cond condit itiion as may be requ requiired red or per permitt mitted ed by the the Corp Corpo orati ration on or the the MAST MASTER ER DEDE DEDE as here herein in prov provid ided ed subj subjec ectt to the the exce except ptio ions ns whic which h may may be expresslysetfort expresslysetforthintheCondom hintheCondominiu iniumActandintheMASTERDEED mActandintheMASTERDEED asherein stat stated ed; ; prov provid ided ed,, said said limi limita tati tion ons, s, ease easeme ment nts, s, cove covena nant nts, s, unde undert rtak akin ings gs and and conditionsshallbedeemedto conditionsshallbedeemedtorunwithth runwiththeProject. eProject. ThePr TheProj ojec ectt shall hall be hel held,co d,conv nvey eyed ed,, encum ncumbe bere red, d, leas eased,us ed,used ed,, occu ccupie pied, maintainedandimprovedsubjecttotheconditions,limitations,restrictionsand covenant covenants sfoun found dinthis inthisMAST MASTER ERDEED DEED..The The limitatio limitations, ns, restricti restrictions,coven ons,covenants ants andconditionscontainedhereinshallbeeffectiveforthedurationoftheProject andshallbebindinguponallowners,occupants,andotherpersonsholdingor acquiringanytitle,righto acquiringanytitle,rightorinterestin rinterestintheProject. theProject.
SECTION15.Subdivision,PartitionorConsolidationofUnit. Noun Nounito itown wners ersha hall llco cons nstr truc uctor torere erecta ctany ny addi additi tion onald aldoo oor, r,wal wall, l,lo loor or,or ,or any any othe other r stru struct ctur ure e with within in the the unit unit exce except pt to the the exte extent nt allo allowe wed d unde under r this this MASTERDEED.No MASTERDEED.No exterior exterioraddition additionto,noranychangeoralter to,noranychangeoralteratio ationoftheunit noftheunit shal shall l be made made unle unless ss the the plan plans s and and spec speci iic icat atio ions ns show showin ing g the the natu nature re,, kind kind,, shape, height, materials, color and location of the same shall have been submittedtoandirstapprovedin submittedtoandirstapprovedinwritingby writingbytheCorporation theCorporation.. Noresi oreside den ntial tial unit unitsh shal allbe lbe subdi ubdivi vide dedin dinto to smal mallerun leruniits nor shal hallsuc lsuch unitbepartitionedeitherjudicially,amongtheco-ownersthereofexceptbysale oftheentireunitanddistributionoftheproceedsthereof.Twoormoreadjacent units,mayhowever,beconsolidatedforthepurposeofintegratin units,mayhowever,be consolidatedforthepurposeofintegratingtheunitsinto gtheunitsinto oneunit, one unit, andmay and maysubse subsequent quently ly subdivide subdivided, d, provided, provided,that thateach each resulting resultingunit unit afte after r the the subd subdiv ivis isio ion n shal shall l be iden identi tica cal l in all all resp respec ects ts to the the unit units s prio prior r to con consoli solid datio ation n; and and prov provid ide ed furt furthe her r that that, , in all case cases, s, the the con consolid olidat atio ion n/ subdivisionplansshallbeduly subdivisionplansshallbedulyapprovedinw approvedinwritingbythe ritingbytheCorporation. Corporation. SECTION16.LimitationontheuseofUnitsandCommonAreas. Theun Theunit it,it ,itss appur ppurte tena nant nt area area,, andth andtheco ecom mmon areas reas shal shallbe lbe occ occupi upied andusedsubjecttothefollowin andusedsubjecttothefollowinglimitation glimitations: s: Nounitownershalloccupyorusetheunitforanypurposeother (a) thanthatforwhichitwas thanthatforwhichitwasoriginallyi originallyintended. ntended. Themaximumnumberofoccup Themaximumnumberofoccupantsperunit antsperunit inany instanceshal instanceshall l (b) notbemorethanthree(3)fora20sq.m.unit;ive(5)fora40sq. m.unit;andeight(8)for m.unit;andeight(8)fora60sq.m.un a60sq.m.unit. it. No busi busine ness ss or comm commer erci cial al acti activi vity ty shal shall l be cond conduc ucte ted d in the the (c) commonareasorportionsthereofexceptintheclubhousewhich mustbeoperatedandmaintain mustbeoperatedandmaintainedsolelybythe edsolelybytheCorporation. Corporation. Everyunitownershallbeobligedtokeepandmaintaintheunit (d) anditsappurtenantareaingoodands anditsappurtenantareaingoodandsanitaryconditi anitaryconditionandrepair onandrepair at all all time times. s. No noxi noxiou ouss subs substa tanc nce e shal shall l be kept kept nor nor immo immora ral, l, improper,offensiveorunlawfulactivityshallbecarriedoninthe unit, its appurtenant area and common areas, nor shall any irrita irritatin ting g orlou or loud d noise noiseema emanat nate e there therefro from m orany or anythi thing ng bedon be done e thereinwhic thereinwhichmaybeorbecomeananno hmaybeorbecomeanannoyanc yanceornuisanc eornuisancetothe etothe otherunitowners. No use use or prac practi tice ce shal shall l be perm permit itte ted d in any any part part of the the Proj Projec ect t (e) whichmaybethesourceofgraveannoyancetooccupantstherein orwhichmayseverely orwhichmayseverely interferewiththepeacefu interferewiththepeacefulpossessi lpossessionand onand prop proper er use use of the the unit units s in the the Proj Projec ect t by the the occu occupa pant nts, s, exce except pt when hen such such use use or prac practi ticce is inh inheren erent t in the the very ery natu ature of a partic particula ular r unit unit or common common area. area. the DECLAR DECLARAN ANT T may, may, howeve however, r, use use any any part part of the the Proj Projec ect, t, exce except pt sold sold unit units, s, in comp comple leti ting ng the the constr construct uction ion of theProject theProjectand and inmar in market ketin ing g ofthe of the unsoldunit unsoldunits. s. Thus,DECLARANTshallbeauthorizedtomaintainasalesoficein
(f)
(g)
(h)
(i)
(j)
the Projec Project, t, conduc conduct t projec project t tours tours for the benei beneit t of prospe prospecti ctive ve purchasers,ordisplaymarketing purchasers,ordisplaymarketingsignsin signsintheProject. theProject. The unit owner shall not bring, place or suspend any load, apparatus,equipment,articleorthinginto,uponoratanylooror ceil ceiliing or any any part part of the the unit in exc excess ess or in viola iolati tio on of the the maximumweightandpermittedlocationofthecertainequipment, apparatus,articleorthingasdeterminedbytheCorporationinthe loor loorof of thebuilding thebuildingwheretheunit wheretheunitislocated,as islocated,as indicatedin indicatedinthe the Hous Ho use e Rule Rules. s. Fo For r this this purp purpos ose, e, the the owne owner r shal shall l obta obtain in the the prio prior r writtenapprov writtenapprovalofthe aloftheCorpo Corporatio rationfor nfortheentryand/ theentryand/orremova orremoval l of any load, load,app appara aratus tus,, equipm equipment ent,, articl article e orthi or thinginto nginto andfrom the unit. unit.Theunitownershallalso Theunitownershallalso complywith complywiththerequire therequirement ments s impo impose sed d by the the appa appara ratu tus s with within in the the unit unit,, incl includ udin ing g the the use use of supportofsuchdimensionandmaterialtodistributetheweightof such such equi equipm pmen ent t and and appa appara ratu tus, s, as the the Corp Corpor orat atio ion n may may deem deem necessary. The unit owner shall not subject his unit to any additional e l e c t r ic a l l oa d wi t h ou t t he p r i or wr i t t e n c on se nt o f t h e Corporation. No conv conver ersa sant nt radi radio o or tele televi visi sion on sign signal al,, or any any othe other r form form of electromagneticradiationshallbepermittedtooriginatefromany uni unit or its its appu appurt rten enan ant t area areass, which ich shall hall inte interf rfe ere with ith the the reception of television or radio set of any other unit or the buildings. Theunitownershallnotdoorcausetobedoneanyact(including c hi s e l in g or c h ip p in g o f c o l um ns o r wa l l s ) or c a u s e t h e construct constructionorinstalla ionorinstallationof tionof any structureorfacility structureorfacility intheunit inthe unit,, it s a p p u r t e na nt ar e a a n d t h e c omm on ar e a s wh i c h t h e DECL DECLAR ARAN ANT T has has dete determ rmin ined ed to be beyo beyond nd,, or will will impa impair ir the the struct structura ural l streng strength th of the buildi building, ng, or chang change e the appear appearanc ance e of anyexteriorofaunitorthebuilding.Thewindowsofthebuilding shal shall l not not be repl replac aced ed with with wind window ows s of diff differ eren ent t mate materi rial al,, size size,, designorcolor,norshallitbecoveredwithaluminumfoil,paint, orothermaterialunlessapprov orothermaterialunlessapprovedbytheCorpora edbytheCorporation. tion. The unit owner shall not construct or erect or install any additionalwindow,grills,door,walloranyotherstructurewithin the the unit unit or any any part part of the the buil buildi ding ng with withou out t the the prio prior r writ writte ten n approvaloftheCorporation.Noexterioradditiontoorchangeor alteratio alterationoftheunitoritsappurten noftheunitoritsappurtenantareashal antareashallbemadeunless lbemadeunless the the plan planss and and spec speci iic icat atio ions ns show showin ing g the the natu nature re,, kind kind,, shap shape, e, heig height ht,, mate materi rial al,, colo color r and and loca locati tion on of the the same same shal shall l have have been been subm submit itte ted d to and and appr approv oved ed in writ writin ing g by the the Corp Corpor orat atio ion. n. The The approvalof approvaloftheCorpor theCorporationof ationof suchplansandspecii suchplansandspeciicatio cationsshall nsshall be base based d on whet whethe her r the the same same woul would d be in harm harmon ony y with with the the externaldesign,locationan externaldesign,locationandcolorofthe dcolorofthesurrounding surroundingstructures. structures.
(k)
(l)
(m)
(n)
(o)
(p)
(q)
Nothi Nothingshal ngshall lbedone bedone orkept ina unit,itsappur unit,itsappurten tenant ant area areaand and the commonareas commonareas,, which which shall shall increa increase se therat the rate e of insura insurance nce of thebuildingwithoutthepriorwrittenconsentoftheCorporation. Any Any such such incre increase ase inin in insur suranc ance e premi premium umsha shall llbe becha charge rged d to the unit unit owne owner r resp respon onsi sibl ble e for for such such incr increa ease se.. No unit unit owne owner r shal shall l perm permit it anyt anythi hing ng to be done done or kept kept in his his unit unit,, its its appu appurt rten enan ant t areaandthecommonarea,whichwillresultinthecancellationof insuranceonthebuildingoranypartthereof insuranceonthebuildingoranypartthereoforwhichwouldbein orwhichwouldbein violationoflaw. Thecommonareashallbefreefromanyandallobstructionatall times.Thisrestrictionshallbeapplicabletoalltheportionsofthe Projectthatareusedforingress,egressoraccesstoanyportionof thebuilding,especiallythestairs. The commonare commonareas as shall shall not beusedas asto a storag rage eare area,excep a,except tas as speci speciica ically lly provid provided ed in this this MASTER MASTER DEED DEED and/or and/or approv approved ed by theCorporation. Nosignofanykindshallbedisplayedforpublicviewacrossorby anyresidentialunitoranyotherportionofthebuilding,without theCorporation’spriorwri theCorporation’spriorwrittenconsent. ttenconsent. Theunitownershallnotpermitorgiveconsenttoanypersonor entityotherthanhimselftoafix,inscribeorpaintanynotice,sign orotheradvertisingmediaontheunit,itsappurtenantareaorany partofthebuilding,asifsaidpersonorentityuses,holdsoficeor is othe otherw rwis ise e esta establ blis ishe hed d in the the unit unit or any any part part of the the buil buildi ding ng thereo thereof. f. Thepod The podiumfacad iumfacade e howeve however r maybe allow allowed ed to provid provide e sign signag age e for for its its comm commer erci cial al area areas s subje subject ct to the the appr approv oval al of the the Corporation. The The uni unit owner shal shall l not use use the the name ame of the the buil build ding ing in any any confusing,detrimental,misleadingmannerinconnectionwiththe unitowner’sownbusinessortradename,anduponthesaleofhis unit, unit, theunitow theunit owner ner shall shallcea cease se to use the name name ofthe of the buildi building ng,, whet whethe her r in conn connec ecti tion on with with is own own busi busine ness ss or trad trade e name name or otherwise. Alluni All unit t owners ownerssha shall ll observ observe e andcom and comply plywit with h all existi existing ng laws, laws, ordi ordina nanc nces es,, and and regu regula lati tion ons s of the the go gove vern rnme ment nt as well well as the the HouseRulesregardingtheuseandoccupancyoftheunitsandthe Project.
SECTION17.Easements. Inaddi nadditi tion on to the the easem aseme entwh ntwhiichth chtheun eunits itsh hall all besu besubj bje ect to under nderth the e law: Eachunitshallbesubjecttoaneasementforthepassageofwater, (a) sewa sewage ge,, drai draina nage ge,, elec electr tric icit ity y and and othe other r util utilit itie ies s and and serv servic ices es in favor favor of the Corpor Corporati ation on,, as well well as other other units. units. The unit unit owner owner shallallowtherepresentativeoftheCorporationorpublicservice
(b)
(c)
or the the uti utility lity com compan panies ies and and the there is here hereby by reser eserve ved d to the the Corporationaneasementtothefullextentnecessarytherefore,to ente enterr upo upon the the uni units owned ned by oth others ers, to repa repaiir, repl replac ace e and and generally generallymain maintain tain sewer, sewer, water, water, electrici electricity, ty, telephone telephoneand and other other publicserviceconnections,lines,conduits,orfacilitiesaswhenthe same may be necessary. Such entry shall be made during reasonablebusinesshoursexceptincasesofemergency,andwith aslittleinconvenien aslittleinconvenienceto cetotheunitowneras theunitownerasposs possible.Anydamage ible.Anydamage caused causedto to theunitbyreasonof theunit byreasonof theentryof therepresentativ therepresentative eof of theCorporationshallbeforth theCorporationshallbefortheCorporation’ eCorporation’saccount. saccount. When Whenev ever er sewe sewer, r, wate water, r, elec electr tric ical al,, tele teleph phon one e or othe other r util utilit ity y connectio connections, ns,line lines s or facilities facilities installed installedwithi within n the building buildingserve serve morethanone(1)unit,eachindividualunitownerservedbythe saidconnect saidconnection, ion, lineorfacilityshal lineorfacilityshallbeentitledto lbeentitledto thefulluseand enjoymentofsuchportionsofsaidconnections,linesorfacilities totheextentthesameserves totheextentthesameserveshisunit. hisunit. Eachinitshall Eachinit shall besubje be subject ctto toan aneasem easementof entof lateral lateralandsubjacent andsubjacent supportforthebeneitofotherunitssharingcommonstructural elem elemen ents ts.. The The unit unit owne owner r shal shall l allo allow w the the repr repres esen enta tati tive ve of the the Corporation to enter his unit to inspect, repair or generally maintaintheroof,bearingwalls,structuralelements,etc.,shared bysuchunitandotherunits.
SECTION18.HouseRulesandRegulations. The use, occupancy and enjoyment of each unit, whether by the unit ownerorhislesseeshalllikewisebesubjecttosuchrulesandregulationsasthe Corporationmay,fromtimetotime,issueandpromulgatefortheconvenience of all the unit owners in the Project and for its eficient and beneicial managementandoperation. SECTION19.Maintenance,Repairs,Alterations,Etc. Allmaintenanceandrepair Allmaintenanceandrepairwork workonanyoftheunits onanyoftheunitsotherthanthe otherthanthe (a) mainte maintenan nance ce andrepair andrepair of any of thecommon thecommonare areas as orfac or facili ilitie ties s containe containedthereinshall dthereinshall befortheaccou beforthe accountofthe ntoftheunitown unitowner.Each er.Each unit ownershallbe ownershallberespo responsib nsibleforall leforallthedamage thedamagescausedto scausedto any otherunitand/ortoanyportionofthebuildingresultingfromhis failur failure e to effectthe effectthe requir required ed mainte maintenan nance ce andrepair andrepair ofhisunit of hisunit.. Eachunitshallalsobeobligedtopromptlyreportinwritingtothe Corpor Corporati ation onany any defect defect orne or need ed forrepair forrepair in any of thecommon thecommon areasfoundinorwithinthevicinityofhisunit.Exceptasmaybe limitedorrestrictedhereinorintheBy-LawsoftheCorporation or Ho Hous use e Rules ules,, eac each uni unit owner or purc purch haser aser shal shall l have have the the excl exclus usiv ive e righ right, t, at his his own own expe expens nse, e, to pain paint, t, repa repain int, t, tile tile,, wax wax paperorotherwisereinishanddecoratetheinnersurfacesof:(1) walls,(2)ceiling,(3)loor,(4)windowsand(4)doorboundinghis
(b)
(c)
(d)
(e)
unit.Theunitowner/purchasershallnotmakerepairsorchanges thatwouldimpairthestructural thatwouldimpairthestructuralintegrityofth integrityofthebuildingor ebuildingorchange change i ts ts o ri ri gi gi na na l a pp pp ea ea ra ra nc nc e a ff ff ec ec ti ti ng ng t he he b ui ui ld ld in in g e xt xt er er io io r. r. Notw Notwit iths hsta tand ndin ing g the the fore forego goin ing g prov provis isio ion, n, the the unit unit owne owner, r, purc purcha hase ser, r, tena tenant nt or occu occupa pant nt of a unit unit may may not not unde undert rtak ake e any any stru struct ctur ural al repa repair ir or alte altera rati tion on,, or any any othe other r work work whic which h woul would d jeopar jeopardiz dize ethe the safety safety of thebuildin thebuilding goranyinit,orto oranyinit,orto impairany impairany easement easementwith without outprio prior r written written approval approvalof of theCorpo the Corporatio ration n and oftheunitownersofthe oftheunitownersoftheunitsaffectedby unitsaffectedbysuchwork. suchwork. Allmaintenanceandrepairofthecommonareas,whetherlocated insid nside e or outs utside ide the units its (un (unless less neces ecessi sita tate ted d by the the act act of negl neglig igen ence ce of the the unit unit owne owner, r, tena tenant nt or occu occupa pant nt in whic which h case case such such expens expenses es shall shall be charge charged d to theow the owner ner or occupa occupant nt of the unit)shallbemadebytheCorporationinaccordancewiththeByLawsoftheCorporation. EveryunitintheProjectshallbesubjecttotherightofentryby the duly duly design designate ated d admini administr strato ator r of the Corpor Corporati ation on or its duly duly auth author oriz ized ed repr repres esen enta tati tive ve in conn connec ecti tion on with with any any repa repair ir whic which h anyunitmaysorequireandnecessitate.Suchentryshallbemade atreasonablehoursoftheday,exceptduringanemergencysuch asire,burglaryorforthepreventionofthecommissionofacrime and other other misdem misdemean eanors ors.. Any damage damage caused caused by an author authoriz ized ed entry entry during during an emerge emergency ncy shall shall be repair repaired ed and/or and/orres restor tored ed at theexpenseoftheCorporation. Incaseofdamagetoaunitcausedbythenegligenceand/orfault of anot anoth her unit nit owne wner, the the latt latter er shal hall be resp respon onsi sibl ble e for for the the expens expenses es to correc correct t orrep or repair air such such damage damage.. If the partie parties s canno cannot t agree agree asto who isnegligen isnegligent t and/orat and/orat fault, fault, the Presi Presiden dent t of the Corpor Corporati ationshallmake onshallmake the decisi decision,subj on,subject ect to appeal appeal,,byany byany of thepartiestotheBoardofTrusteeswhosedecisionshallbeinal. Incases where wherecorre correctiv ctive emeasu measureshaveto reshaveto bedoneimme bedone immediate diately ly topreventfurtherdamageandtheparties topreventfurtherdamageandthepartiescannotasyetagreewho cannotasyetagreewho shallshoulderthecosttorepair,theCorporationmayadvancethe cost cost of repa repair ir and and charg harge e the the part party y late later r plu plus intere teresst at the the prevailingrate. TheDECLARANTisherebydesignatedasthePropertyManagerof the the Proj Projec ect t for for a peri perio od of ten ten (10) 10) cons consec ecu utive tive years ears unle unlesss DECLARANTmakesanearlyturnoveroftheProjectinfavorofthe Corpor Corporati ation on before before thelap the lapse se of the ten(10 ten (10) ) years. years.DEC DECLAR LARAN ANT T may designate designate anyof its subsidiar subsidiaries,afil ies,afiliates iates orassigneesto orassigneesto act asPropertyManagerfortheProject.
TheBy-LawsoftheCorporationmaycontainsuchfurtherprovisionsrelatingto mainte maintenan nance, ce, repair repairs, s, altera alteratio tions ns and additi additions ons to supple supplemen ment t the forego foregoing ing provisions.
SECTION20.EntryforRepairs. TherefusaloftheunitownertoallowentrybytheCorporationoritsduly authorizedagenttoeffectrepairafterreasonablenoticeisgiven,shallmakesaid unit unit owne owner r liab liable le for for cons conseq eque uent ntia ial l dama damage gess brou brough ght t by his his refu refusa sal l to allo allow w entrytotheunit. SECTION21.PenaltyforViolationandProcedureforImpositionThereof TheC TheCor orpo pora rati tion onsh shal allh lhav avet ethe hep pow ower erto tode dete term rmin inea eapp ppro ropr pria iate tere reme medi dies es bywayofsanctionorimpositionorinterestexpressedonthisMASTERDEEDor withtheHouseRules.Itshallalsoprescribethecorrespondingproceduretaking into into consid considera eratio tion n the gravit gravity y of such such violat violation ion/s. /s. The exerci exercise se of this this power power shall b without prejudice to such available ble judicial remedies which the Corporatio Corporationmay nmayavail avail.Any .Anyamou amountdue ntdueand and forthcomi forthcoming,by ng,bywayof wayof reparation reparation or restitution, interests, ines and/or penalty from the violator to the Corpor Corporati ation onsha shall ll becon be consi sider dered edas ason onobl obliga igatio tion n ofthe of the unit unit owner ownercon concer cerned ned andshallbeassessedaccordingly. Inth Inthe eev even ent tan any yun unit itow owne ner ror orhi hisstena tenant ntor orle less ssee eefa fail ils sto toco comp mply lywi with than any y limi limita tati tion on,, rest restri rict ctio ion, n, cove covena nant nt,, cond condit itio ion n of the the MAST MASTER ER DEED DEED or with with the the Hous Ho use e Rule Rules s with with the the time timei ixe xed d in the the noti notice cegi give ven n to the the unit unit owne owner r by the the Corpor Corporati ation, on, the latter latter,, or it’s it’s duly duly author authorize ized d repres represent entati atives ves shall shall have have the right: To ente enter r the the unit unit of such such defa defaul ulti ting ng memb member er in whic which h or as to (a) whichviolatio whichviolationexistsandto nexistsandto summarily summarily abate andremove, andremove,atthe atthe expense of the member owning the unit, any structure or conditionconstitutingtheviolation.TheCorporationtherebyshall notbedeemedguiltyoftrespass;or To enjo enjoin in,, abat abate, e, or reme remedy dy the the cont contin inua uanc nce e of such such brea breach ch or (b) violationbyappropriateadministrativeand/orlegalproceedings; or Tobuyorre-acquiretheunitoftheguilty/defaultingmemberat (c) originalacquisitioncost originalacquisitioncostfromtheDevelo fromtheDeveloper. per. SECTION22.Assessments. Consid Consideri ering ng that that theCorporat theCorporationis ionis a non-s non-stoc tock k and non-p non-pro roit it entity entity,, it shal shall l need need fund funds s to sust sustai ain n its its oper operat atio ions ns.. Thus Thus,, unti until l such such time time and and in such such manner manner as the Board Board of Truste Trustees es may reaso reasonab nable le and necess necessari arily ly determ determin ine, e, there shall be an assessment against each unit owner in the Project pro propor portio tionate ate to his appu appurt rten enan ant t inte intere rest st and and such uch sum sum or sum sums sha shall be, be, designatedasfollows:
WorkingCapitalAssessment An amounte tequivalentt ttono notle lessth thanth theto totalop operationalex expense of the the Corp Corpor orat atio ion n for for six six (6) (6) mont months hs shal shall l be prop propor orti tion onat atel ely y shar shared ed and and collected fro from the unit owners in the Project which shall constitute its (a)
WORKING WORKI NG CAPITA CAPITAL. L. The propor proportio tionat nate e amount amount contri contribut buted ed by each each member member shallbehisequitableshareinthesaidfundsubjecttorefundwhenthemember ceasestobeaunitowner,withoutinterest, ceasestobeaunitowner, withoutinterest,nthesameamountunless nthesameamountunlessadifferent adifferent sumiscontributedsubsequentlyinaccordancewithadulyapprovedresolution. Theworkingcapitalshallbe Theworkingcapitalshallbe usedto initiallypay initiallypay forsuchutilities, forsuchutilities, servicesand servicesand facili facilitie ties s availe availed d of and shall shall be replen replenish ished ed regula regularly rly throug through h billin billing g for the oper operat atio iona nal l expe expens nses es shar shared ed and and prop propor orti tion onat atel ely y part partic icip ipat ated ed in by all all unit unit owners owners.. Forthi For this s Projec Project, t, thewor the workin king g capita capital l assess assessmen ment t is set at SIXTY SIXTY (P (Php hp 60.00)pershareofequivalentloorarea. RegularAssessment An amount, more or less, equivalent to the expenditure of the Corpor Corporati ationin onin any givenmont givenmonth hin in its operat operatio ion nsha shallbe llbe thebasis thebasisto to establ establish ish the GUIDING RATE by the Project Administration to be approved by the Corp Corpor orat atio ion. n. Thes These e regu regula lar r expe expend ndit itur ures es shal shall l incl includ ude e cost costss for for secu securi rity ty and and jan janito itorial rial serv ervice ices, elec electr tric ic and and wate ater con consump sumpti tio on of the comm ommon area areass, administrativeexpenses,andsuchotherrecurringcommonexpensestoinclude taxes and insurance premiums if availed of. In order to determine the correspondingshareofeachu correspondingshareofeachunitowner,t nitowner,thefollowing hefollowingformulashallbe formulashallbeused: used: (b)
GUIDING RATE x Equivalent Floor Area = Cost of share on the regular assessment TheinitialrateissetatP TheinitialrateissetatP60.00persquarem 60.00persquaremeterpermonth eterpermonth SpecialAssessment TheCo Corporationma may, fr fromti timeto totim time,de designatesu sucham amountor or amountstobecollectedfromunitownersasandbywayofspecialassessment to cove cover r such such expe expend ndit itur ures es deem deemed ed nece necess ssar ary y but but is not not cons consid ider ered ed in the the regu regula lar r asse assess ssme ment nt such such as impr improv ovem emen ent t work works s or beau beauti tii ica cati tion on proj projec ects ts approvedbytheCorporation.Thismayalsoincludefundsnecessarytoaugment deicienc deiciencyfrominsuran yfrominsuranceproceed ceproceeds,ifany.Anyandall s,ifany.Anyandallunpa unpaidassess idassessmentshal mentshall l bearinterestfromtheduedateuntilfullypaidatsuchrateastheCorporation may ix in any particular instance, compounded annually, subjec ject to the provisionsofexistinglaws. (c)
Any sum or sums owing the Corporation from any unit owner in the Proj Projec ect t shal shall l be cons consid ider ered ed as lien lien over over said said unit unit whic which, h, toge togeth ther er with with othe other r incide incidenta ntal l increm increment ents s like like inter interest est and penalt penalties ies impose imposed, d, cost cost and collec collectio tion n andlegalfees,shallhavepriorityandpreferenceagainstanyotherclaimexcept those those owing owingthe thegove governme rnment. nt. No transfer transferof of anyunit shall beeffec be effected tedunles unless sa a clea cleara ranc nce e of its its acco accoun unta tabi bili lity ty is secu secure red d by the the inte intere rest sted ed part party y from from the the Corporationoritsdulyautho Corporationoritsdulyauthorizedrepresentati rizedrepresentative. ve. Anysumor ysumorsu sums ms owingth ingtheCo eCorp rpo orati ratio on fro fromany many membe emberr uni unitshal tshallbe lbe consideredtheprimeandsoleresponsibilityoftheunitownernotwithstanding
anyagreement,understandingo anyagreement,understandingorarrangement rarrangementtheunitowner theunitownermayhaveentered mayhaveentered into with his lessee or tenant and irrespective of the notice made to the Corporationaboutthesaidarrangement. SECTION23.DefaultPaymentandAssessment. Inthe nthe eventtha tthata memberdef rdefaults in the payment of any assessment duly duly levi levied ed in acco accord rdan ance ce with with this this MAST MASTER ER DEED DEED and and the the By-L By-Law awss of the the Corp Corpor orat atio ion, n, the the Corp Corpor orat atio ion n may may enfo enforc rce e coll collec ecti tion on ther thereo eoff by any any of the the remedi remedies es provid provided ed by the Condom Condomini inium um Act and other other pertin pertinent ent laws. laws. In the absenc absence e ofany of any resolu resolutio tion n adopte adopted d to thecontrary thecontrary,, the Corpor Corporati ation on shall shall have have the the pow power to enfo enforc rce e the the coll collec ecti tio on of any any ass assessm essmen ent t as well well as ins institu titute te sanctionssuchasdisconnectionofpower,waterandotherutilitysuppliestothe unituntilsuchassessmentisupdated. Inad Inaddi diti tion onth ther eret eto, o,i iffthem themem embe ber’ r’su suni niti tint nthe hePr Proj ojec ecti tisb sbei eing ngl lea ease seda dand nd hisdefault hisdefault has lasted lastedfor for more more than than thirty thirty (30) (30) days, days, theCor the Corpor porati ation onhas has the right right to demand demandand and receiv receive e from from theuni the unit t owner owner’s ’s lessee lesseethe the rent rent from from such such lease,up lease,upto to anamountsuficie anamountsuficienttopaythe nttopaytheamou amountassess ntassessedinclud edincluding ing interest, interest, ifany. if any. Suchpaymentof rentto theCorpo the Corporatio ration nshal shall lbe besufi suficien cient tdisch dischargeof argeof suchleaseasbetweenthelesseeandthemembertotheextentoftheamountto be paid paid.. Fo For r this this purp purpos ose, e, the the unit unit owne owners rs of the the Corp Corpor orat atio ion n here hereby by bind bind themselves themselves to incorpora incorporatea tea provisionto provisionto this effectin effectintheleasecontra theleasecontract,if ct,ifany, any, of thei their r unit units s on the the Proj Projec ect. t. Notw Notwit iths hsta tand ndin ing g such such agre agreem emen ent, t, howe howeve ver, r, the the failur failure eof of the lessee lessee to pay theassess theassessmen ment tsha shallnotrelie llnotrelievethemembe vethemember rofthe ofthe liabilitytopayforsuchassessment. IftheCo ftheCorrporationis compelled to ilesui esuit for thecol ecollection ofove foverdue assessments,delinquentunitownersshallbeliablefortheexpenseofcollection and and atto attorn rney ey’s ’s fees fees equi equiva vale lent nt to at leas least t twen twenty ty ive ive perc percen ent t (25% (25%)) of the the amountduebutinnocase amountduebutinnocaselessthanP25 lessthanP25,000.00,pluscost ,000.00,pluscostofsuit. ofsuit. TheC TheCor orpo pora rati tion onma may, y,in inca case seof ofde deli linq nque uenc ncy yorde ordefa faul ult, t,ta take keth thef efol ollo lowi wing ng actions: Post Post the names names of delin delinque quent nt member members s in conspi conspicuo cuous us place( place(s) s) (a) withinthepremisesoftheProjects. Prohibit and/or preve event the removal of fur furnitur ture, ixtur tures, (b) equi equipm pmen ent t or othe other r item items s from from the the affe affect cted ed unit unit of deli delinq nque uent nt memb member er unti until l all all asse assess ssme ment nts, s, dues dues and and othe other r liab liabil ilit itie ies s of the the delinquentmemberoftheCorpo delinquentmemberoftheCorporationhavebeen rationhavebeenfullysatisied. fullysatisied. Enter into and take physical possession of the unit of the (c) defaultin defaulting gmemb member erforthe forthe useand beneit beneitof of theCorporation theCorporationfor for suchaperiodoftimeasmaybenecessarytoliquidatethesumor sums sums of mone money y paya payabl ble e and and outs outsta tand ndin ing g incl includ udin ing g the the leas lease e of such unit to interested party/ies under such rate as may be acceptabletosuchinterestedparty/iesandapplyrentalpayment toliquidatethemember’sdelinquency. Enfo Enforc rce e othe other r sanc sancti tion ons s like like cutt cuttin ing g of util utilit itie ies s even even if the the unit unit (d) ownerisupdatedinthepaymentofutilitychargesandtheliketo
force the collection of all assessments as approved by the Corporation. Tobuyorre-acquiretheunitoftheguilty/defaultingmemberat (e) originalacquisitioncost originalacquisitioncostfromtheDevelo fromtheDeveloper. per. The income from the lease contract over and above the member’s delinq delinquen uency cy shall shall be turned turned over over to theunit ownerconce ownerconcerne rned d and/orheld and/orheld in trustforandinhisbehalfby trustforandinhisbehalfbytheCorporation theCorporation.. SECTION24.RealPropertyTaxesandOtherImpositions. Each Ea ch unit unit owne owner r shal shall l be resp respon onsi sibl ble e for for the the paym paymen ent t of real real prop proper erty ty taxe taxess and and othe other r char charge ges s and and asse assess ssme ment ntss accr accrui uing ng on his his unit unit.. The The valu value/ e/ acquisiti acquisitionby onbyaunitownerof aunitownerofaunitactuallyincl aunitactuallyincludeshispropor udeshisproportion tionalrighton alrighton allcommonareastoincludeland.Incaseshoweverthatrealestateassessments, sepa separa rate te the the asse assess ssme ment nt valu value e of the the unit unit from from the the asse assess ssme ment nt valu value e of the the commonareas,thecommon commonareas,thecommonareataxshall areataxshallbeshoulderedpro beshoulderedpro-rata. -rata. Each unitown townersha rshallexe lexecutesuc esuchins hinstrument and take suchact haction to obtainaseparatetaxdeclarationonhisrespectiveunitforpurposesoftaxation andotherimpositionson andotherimpositionsonrealproperty. realproperty. Cons Consid ider erin ingth gthat at theCo theCorp rpor orat atio ions nsha hall llhol holdti dtitl tleto eto thela theland ndonw onwhi hich chthe the buil buildi ding ng is cons constr truc ucte ted d and and the the comm common on area areass in the the Proj Projec ect, t, corr corres espo pond ndin ing g taxesthereon taxesthereonshallbesharedbyalltheunitown shallbesharedbyalltheunitownersintheProj ersintheProjectfollo ectfollowin wingthe gthe formul formula aasin asinSec Sectio tion n21above 21above..Sin Since ce the valueand valueandrig rightto htto auni a unit tinc includ ludes es its proportio proportionate nate shareonthe shareonthecomm commonareaandtheland,its onareaandtheland,its taxdeclaratio taxdeclarationvalue nvalue may already include that share and the individual tax declaration and correspondingtaxpaymentw correspondingtaxpaymentwillalreadycove illalreadycoverthecommon rthecommonareasandthe areasandtheland. land. For purposes of payment of taxes and other impositions herein mentioned, the unit owner, his assigns, lessees and heirs, is liable upon availabilityoftheunit,wh availabilityoftheunit,whetheractuallyor etheractuallyorconstructively constructivelyreceive. receive. SECTION25.Insurance. Invi Inview ewofth ofthefa efact ctth that atth the ebuild buildin ingis gisbu buil ilto tofre frein info forc rcedc edcon oncr cret etean eandal dall l common common areas areas are practi practical cally ly of non-co non-combu mbusti stible ble materi materials als,, the Corpor Corporati ation on mayoptnottosecureirei mayoptnottosecureireinsuranceforthe nsuranceforthebuildingand buildingandcommonareas commonareas.. In cases however, the Corporation decides to secure ire insurance coverage and such other extended coverage as are common, usual and customaryforthisbuildingtype, customaryforthisbuildingtype,thepremiumons thepremiumonsuchpolicy uchpolicyshallbeconsidered shallbeconsidered asan as anopera operatingexpense tingexpense of theCorpo the Corporatio ration nandshall andshall beasse be assessedagainsteach ssedagainsteach unitownerandcollectedinaccordancewiththeusualcollectionprocedure.The auth author orit ity y to adju adjust st loss losses es unde under r the the poli policy cy or poli polici cies es shal shall l be vest vested ed in the the Corpor Corporati ation; on; provid provided, ed, howeve however, r, that that an aggrie aggrieved ved member member may ask that that the determ determina inatio tion n ad/or ad/or the adjust adjustmen ment t of losses losses under under the policy policy or polici policies es be referredtoareputableinsuranceadjuste referredtoareputable insuranceadjusteracceptabletoboth racceptabletobothparties. parties. SECTION26.ContentsInsurance.
Nothi Nothing ng herein herein contai containedshall nedshallbe be constr construedto uedto prohib prohibit it anyunit owner owner from taking taking outan out aninsu insurancecoverage rancecoverage forhis for hisunit unitcont contents ents therein, therein,prov provided, ided, however, that the insurance that will be secured for the unit and/or the improvements or contents shall not diminish or decrease the amount of insuranceforthebuildingsandthecommonareas insuranceforthebuildin gsandthecommonareasnorsuchadditionalinsuran norsuchadditionalinsurance ce diminishordecrease diminishordecrease theresponsibil theresponsibility ity and/orliabilit and/orliabilityof yoftheunitownerinhis theunitownerinhis shar share e in the the prem premiu ium m for for the the insu insura ranc nce e obta obtain ined ed for for the the buil buildi ding ngs s and and the the commonareas. Anyun Anyunit itown owner erwh who o secu secure resase sasepa para rate teorad oraddi diti tion onali alins nsur uran ancec cecov over erag age e forhisunitshallbeunderstoo forhisunitshallbeunderstoodtobeguided dtobeguidedbytheconditio bytheconditionsofthisS nsofthisSection. ection. SECTION27.InsuranceClaims:Dissolution&Reconstruction. Unless the conditions for the dissolution of the Corporation exist as requiredbyRepublicAct4726adtherequiredvoteofthemembersdecidefor dissolution, the proceeds of the insurance policy shall be used for the reconstructionorrepairofthebuilding/soranypartsthereof.Reconstruction or repa repair ir as used used in the the pres presen ent t cont contex ext t shal shall l mean mean rest restor orin ing g the the buil buildi ding ng or partsthereoftothesameconditionasitexistedbeforeorpriortothedamage, loss loss or dest destru ruct ctio ion n with with each each unit unit and and the the comm common on area areass havi having ng the the clos closes est t approximatelypossibletothesa approximatelypossibletothesamehorizont mehorizontalorverticalbo alorverticalboundariesasbefore undariesasbefore.. I f t h e i n s u r a n c e p r o c e e d s a r e i ns u f i c i e n t t o c o v e r t h e c o s t o f recons reconstru tructi ctionor onor repairof repairofthe the damagedon damagedone eto to theunit theunitor or the commo common nare areas, as, thedeiciencyshallbecoveredbyanyfundoftheCorporationexistingorfrom anyspe any specia cial l fund fund formed formed for capita capital l expend expenditu itures res.. In theeve the event nt that that even even with with saidfundsadeiciencystillexists,aspecialassessmentshallbesomadeand/or fundsshallberaisedinsuchmannerandinsuchtimesthatshallbedetermined inaspecialmeetingofthe inaspecialmeetingofthemembersofthe membersoftheCorporationcall Corporationcalledforthepurpose edforthepurpose.. Notw Notwit iths hsta tand ndin ingt gthi hisp spro roce cedu dure re,i ,iff ther therec econ onst stru ruct ctio ioni nisd sdem eman ande dedb dby ythe exigenciesofthetimeandtheproceedsoftheinsurancepoliciesareinsuficient tocoverthereconstructioncost,th tocoverthereconstructioncost,theCorporationmay eCorporationmaynevertheless neverthelessproceedwith proceedwith the recons reconstru tructi ction on and the cost cost thereo thereof f not not covere covered d with with the procee proceeds ds of the insurance insurancepolicyshallbe policyshallbepropo proportion rtionately ately collectedfromeachunitownerinthe collectedfromeachunitownerinthe Projecttakinginto Projecttakinginto accountthe accountthearea area and/or and/orperce percentag ntage eofparticipa ofparticipationof tionof such unitowners.ThepoweroftheCorporationtoproceedwiththereconstruction under under this this author authority ity is subjec subject t to the non-e non-exis xisten tence ce of the condit condition ionwhe whereb reby y unitownersdecideforthedissolutionoftheCorporationandtheconditionsfor dissolutionasprovidedforby dissolutionasprovidedforbylawarepresent. lawarepresent. Inth Inthee eeve vent ntth that atre reco cons nstr truc ucti tion oni issnotr notres esor orte tedt dto obythe bytheC Cor orpo pora rati tion onan and d thedissolutionofCorporationisapprovedbythemembers,theproceedsofthe insurancepolicy/iesshallbepaidtothenitownersortheirmortgagees,ifany the latter latter gettin getting g only onlysuc such h amoun amount t corres correspon pondin ding g to themortgageloan themortgageloanor oras as can be accom accommod modate ated d with with the pro-ra pro-rata ta procee proceeds ds consid consideri ering ng theare the area a of the unit.Theexcess,ifany,sh unit.Theexcess,ifany,shallbepaidtothe allbepaidtothemortgagoro mortgagoroftheunit. ftheunit.
Itis Itisun unde ders rsto tood odth that atth the edi dist stri ribu buti tion onor ord div ivis isio ion nof ofth the epr proc ocee eeds dsto tot the heun unit it ownerorhismortgagee,ifany,shallbedoneonlyaftertheaccountabilityofthe unitconcernedwiththeCo unitconcernedwiththeCorporationbefored rporationbeforedissolutionis issolutionisfullysatisied. fullysatisied. SECT SECTIO ION N 28. Obl Obligat igatio ion n of Bu Buye yers rs Units nits under nder Def Defer erre red d/Ins /Insttall allment ment PaymentPlan. Upon Uponth the eavai availa labi bili lity tyoft ofthe heun unit it,t ,the hebu buye yeru rund nder erad adef efer erre red( d(in inst stal allm lmen ent) t) plan,shallbeliableforalltheobligations,assessm plan,shallbeliableforalltheoblig ations,assessments,andtaxes ents,andtaxesprovidedforin providedforin this this MAST MASTER ER DEED DEED and and in the the Arti Articl cles es of Inco Incorp rpor orat atio ion n and and By-l By-law aws s of the the Corporation.Inthemeantimethatallpayments Corporation.Inthemeantimethatallpaymentsofallinstallmentshavenotbeen ofallinstallmentshavenotbeen effectedandtitlehasnotbeentransferredtothebuyer,theDECLARANT,shall actashisproxyintheCo actashisproxyintheCorporation. rporation. SECTION29.MortgageProtection. Notwit twith hsta standin nding gal allo lother ther pro provisi visio ons her hereof. eof. Any Any regist registere ered d mortga mortgage ge over over theun the unit it shall shallbe be consid considere ered d to be (a) superioroverthatofanunregisteredlienovertheproperty.Itis provid provided ed that that thedue the dues s forthc forthcomi oming ng from from the unit unit arisin arising g outof out of anyassessm anyassessment ent,, whethe whether r regula regular r orspecial, orspecial, ifsti if still llunp unpaidat aidat any foreclosureproceedings,shallatalltimesbesatisiedbeforeany newevidenc newevidence e ofown of owners ership hip and/ortitleis and/ortitleis issuedin issuedin the name name of thepurchaseronforeclosurebythepropergovernmentagencyor instrume instrumentali ntality. ty. Theforec The foreclosi losing ngmortg mortgage ageshallcover shallcover forthe for the full amountpaidbysuchmortgageetotheCorporationrelativetothe accountofthesubjectunitw accountofthesubjectunitwiththeCorporat iththeCorporation. ion. Anypurchaserofa Anypurchaserofauni unitintheCorporation tintheCorporation,beforeanycertiication ,beforeanycertiication (b) from from the the Corp Corpor orat atio ion n is issu issued ed as requ requir ired ed by the the Regi Regist ster er of Deedsinregister Deedsinregisteringthetran ingthetransferoftitletotheunit, sferoftitletotheunit,shallclearthe shallclearthe unitfromanyaccountability unitfromanyaccountabilitywiththeCo withtheCorporation. rporation. SECT SECTIO ION N 30. 30. Right Rightss of Tr Tran ansf sfer eree, ee, Purc Purcha hase sers rs, , Tena Tenant nts, s, Occu Occupa pant ntss an and d FutureOwners. Allpresent Allpresent andfuture andfuture unit unit owner owners, s, tenant tenantss or occupa occupantsof ntsof units units in the Project Projectshallcomplyand shallcomplyand besubje be subject ctto to theprovisions theprovisionsof ofthe theCond Condomin ominiumAct, iumAct, the the Arti Articl cles es of Inco Incorp rpor orat atio ion n and and By-L By-Law aws s of the the Corp Corpor orat atio ion, n, the the MAST MASTER ER DEED, DEED,theHouse theHouseRules Rules,,and and suchotheradministrati suchotheradministrativeand veand policy policy guidelin guidelines es as may may be issu issued ed from from time time to time time by the the Corp Corpor orat atio ion. n. The The righ rights ts of pres presen ent t owners,tenantsoroccupantsmaybeexercisedbyalltransferee/s,subsequent purchaser/sofunit/sintheProject. SECTION31.EminentDomain. Intheev ntheeve entof an actual andthr dthreatenedtak dtaking of all orany rany unit orthe rthe commonareas,theowner/sherebyappoint/s commonareas,theowner/sherebyappoint/stheCorporationandsuchpersons theCorporationandsuchpersons asitmaydelegatetorepresenttheowner/sandtheCorporationinconnection with suchtaking.TheCorporati suchtaking.TheCorporationshallactat onshallactat itsdiscretion itsdiscretion withrespectto withrespectto any
awardbeingmadeinconnectionwiththetakingandshallbeentitledtomakea voluntarysale(iflegallypossible).Anyawardreceivedonaccountofthetaking shallbepaidtotheCorporationanditshalldistributeanyawardinpro-ratato theunitownersdirectlyaffectedandtheCorpo theunitownersdirectlyaffectedandtheCorporationasthecase rationasthecasemaybe,subject maybe,subject tothepriorrightsofmortgageeswhoareentitledtoreceivetheowner’sportion ofsuchawardpursuanttothe ofsuchawardpursuanttothetermsoftheird termsoftheirdeed/sofmortgag eed/sofmortgage. e. SECTION32.EnforcementWaiver. The The Corp Corpor orat atio ion n or any any unit unit owne owner r shal shall l have have the the righ right t to enfo enforc rce e by proce rocee edings in law or in equi quity, all restrictio tions, conditions, cov covenants, reservations,liens,andchargesnoworhereafterimposedbytheprovisionsof this MASTER DEED, the Articles of Incorporation and By-Laws of the Corp Corpor orat atio ion, n, or any any amen amendm dmen ent t ther theret eto, o, incl includ udin ing g the the righ right t to prev preven ent t the the violation violation ofanysuchrestri ofany suchrestriction ction,,cond conditio itions,covena ns,covenants,or nts,orreser reservati vations ons andthe righ right t to reco recove ver r dama damage ges s or othe other r dues dues for for such such viol violat atio ion; n; prov provid ided ed that that the the Corporatio Corporationshallhavethe nshallhavethe exclusiverighttoenforce exclusiverighttoenforce assessmen assessmentsor tsorlien liensand/ sand/ orliens ortheHouse Rules.Thefailureof Rules.Thefailureof theCorporatio theCorporationoranyunitownerto noranyunitownerto enforcecovenant,conditionorrestrictionhereincontainedinanyinstanceorat anyparticul anyparticular ar occasi occasion on shall shall not not be constr construed uedas as waiver waiverof of such such right right onany on any futurebreachofthesamecovenan futurebreachofthesamecovenant,condition t,conditionorrestriction orrestriction.. SECTION33.Non-liabilityofOf`icials. To the the full fulles est t exte xtent perm permiitted tted by law the the Bo Boar ard d of Tru Trustee stees s or any memb member er of the the Bo Boar ard d or Comm Commit itte tee e shal shall l not not be liab liable le to any any memb member er of the the Corporationforanydamage,lossorprejudicesufferedorclaimedonaccountof anydecision anydecision,, approv approval al or disapp disapprov roval al of plans plans or speci speciica icatio tions ns made made ingoo in good d faithandwithinwhatsuchBoard,Committeeorpersonreasonablybelievedto bewithinthescopeoftheirduties. SECTION34.Severability. The invalidity of any provision of this MASTER DEED shall not in any mann manner er affe affect ct the the vali validi dity ty of the the othe other r prov provis isio ions ns ther therei ein, n, and and thos those e othe other r provis provision ions s shall shall contin continue uein ineff effectand ectand valid validas as if such such inval invalid id provis provision ions s have have neverbeenincluded. SECTION35.Amendment. Atany time time prior prior to the convey conveyanc ance e toand to and accept acceptanc ance e of theProject theProject by the Corporatio Corporation, n, theDECLA the DECLARANT RANT mayunil may unilatera aterally lly amend amend this MASTER MASTER DEED. DEED. Afte After r such such conv convey eyan ance ce and and acce accept ptan ance ce,, this this MAST MASTER ER DEED DEED may may be amen amende ded d only only by the the afi afirm rmat ativ ive e vote vote of the the unit unit owne owners rs whos whose e equi equity ty inte intere rest st in the the Corporationconstitutesatleastasimplemajorityofthetotalequityinterestin theCorporation,atameetingdulyheldinaccordancewiththeBy-Lawsofthe Corporation. SECTION36.Termination.
The termination of this Project and the Corporation established in connec connectio tion n therew therewith ithsha shall ll be go gover verned ned by the provis provision ions s of Republ Republic ic ActNo Act No.. 4726,otherwiseknownasCondominiumActandotherpertinentandapplicable lawsofthePhilippines. INWI NWITNES TNESS S WHE HER REO EOF, F,D DEC ECLA LARA RAN NTSM DEV EVEL ELO OPMEN PMENT T CORP ORPORATI RATION ON hascaused this instrume instrumentto ntto beexecutedby beexecutedby itsdulyauthorizedPresi itsdulyauthorizedPresident dent and VicePresidentthis20thday VicePresidentthis20thdayofOctober,200 ofOctober,2008atPasayCity 8atPasayCity..
SMDEVELOPMENTCORPORATION DECLARANT
By: (Original signed) ROGELIO R. CABUNAG President
(Original signed) JOSE T. GABIONZA Vice President
SIGNEDINTHEPRESENCEOF: (Original signed) RONALDO S. ARANETA
(Original signed) CARLO O. ALAMPAY
ACKNOWLEDGEMENT
REPUBLICOFTHEPHILIPPINES) )S.S. BEFORE BEFO RE ME, a Nota Notarry Public blic for for and and in the the City City of Pasay asay,, this his 20th 0th day day of October,personallyappeared Name Community Tax Certiicate Date/Place Issued SM Development Corporation 00021423 01-03-2008 PasayCity ROGELIO R. CABUNAG 10206197 01-18-2008 - Pasig City JOSE T. GABIONZA 16235891 01-23-2008 QuezonCity know known n to me and and to meknown meknown to beth be the e pers person on who who exec execut utedthe edthe fore forego goin ing g inst instru rume ment nt and and who who ackn acknow owle ledg dged ed to me that that the the same same are are thei theirr free free and and voluntaryactanddeedandthat voluntaryactanddeedandthatoftheCorporati oftheCorporationhereinrepre onhereinrepresented. sented. This Thisin inst strrumen umentre trela late testo sto aMas aMaste terDe rDeed ed andD andDec ecllarat aratiionof nof Res Restric tricti tio ons of the Grass Grass Reside Residence nces s condom condomin inium ium projec project t being being constr construct ucted ed on TWO (2) parcelsoflandlocatedatNuevaVizcayacornerMisamis&NuevaEcijaStreets,
Brgy.Sto.Cristo,QuezonCity,withatotallandareaofThirtySixThousandTwo and and 20/2 20/200 00 Squa Square re Mete Meters rs (36, (36,00 002. 2.20 20 sq.m sq.m.) .),, more more or less less,, and and whic which h are are covered coveredby byandmore andmorepatrt patrticula icularly rly describedin describedin Transfer Transferof ofCerti Certiicat icates es of Title No.N-320819. This instrument consist of NINETEEN (19) pages including this page where where this this acknow acknowled ledgem gement ent is writte written, n, is signed signed by Rogeli Rogelio o R. Cabuna Cabunag g and Jose Jose T. Gabi Gabion onza za and and thei their r inst instru rume ment ntal al witn witnes esse sess on each each and and ever every y page page thereof. INWIT NWITN NES ESS SWHER WHEREO EOF, F,Ih Ihav ave ehere hereu untose tosetm tmy yhan handan dandaf dafix ixed edm my yseal seal onthedateandplaceirstabovestated.
Doc. No. 105 Page No. 21 Book No. III Seriesof2008
MA. ELIZABETH M. LAURON Notary Public Until December 31, 2009 PTR. No. 0948621/1-16-2008/Pasay City
