bonifacio ridge master deed with amendments
DESCRIPTION
onifacio Ridge Master Deed With AmendmentsTRANSCRIPT
ANNEXB
MASTER DEED WITH DECLARATION OF RESTRICTIONS OF BONIFACIO RIDGE PROJECT
KNOW ALL MEN BY THESE ?RESENTS:
This r\'\ast:, D'2:d \':i~~: De:.:iarCilion of Restri::lions of Bonifacio Ridge PROJEC-;' dalecJ (h:'::;-,':;;'er referred \0 2S n-,: "r'.'lasle, D:::ed", \',i"lethe, referenc," is 10 the enabling Geed or th:2 ce;::;3ia:ion of rcstri:::li:::>ns or both). n-.c:::de 2nd exeC:~ledin Taguig. r\\etro !I.,lan;;:, bj'.
FORT 30',"~:::AC:O D:=:\·JELOP:,·,=i~T COR?Gi=\.KT,Ci·J, a corp::)l2~icn du::' org3ni:::ed and e;-:isting L.::-:=e~ and b): vinue 0: ?hilipPln'2 i2\"."$, \",ilh offi:P-S c~, 6onifa:io Cenl,e. Fait B:":-:::2:i:, Taguig. M.M, re;:H8sentec t">y i:s Senior \Ii.:e. President for P~;)p:;1y E~s;:-::ss G,vup, r,'IR. C . .c..R~OS S. RUi=It'JO (her::n,"~:e~ refe;rej to 25 ";:2DI:").
V'JiT r·~ ES S ::Tf-':
\'"'n-tcRE .. I).S. ~D~C is ~~.~ =js:Ji~/-2 2nd rc·;:~:.ere,:.; C\'{T;::.~ 0; ~\ .. ,·C (~~.) con~i;:J0u~
c"2,C2!S c i \c:lC Ic:.=:~j '."~~;-':~' = :-: 8oni;3:ia G!O:·3 Clly, 12~'..!;c. I'.i",::c; ~;;?;-)i:==, "".71:::· ~2j·:.eI.5 c: lend ale- :::;\'~;-ec :-~. ~:G-:5fe; Cs;-tif::c.~e:: s: T:~!:= f"i~5
;-:'~egis!r,/ of Dee.,js :::~ t:1e ?r:',,':~;:"~ c:~ P\;~21~
'.·iH=RE~S. ~SQC i:::= ::;~·,::...::ti~;. de'/S;8~~~"~:, 21'1:: ~S:2tli.;S:"'.;:-1;' =- c.(Jnu:..)r;·i:;-.::":~
:';,"CJje:t Ci:l th:.= \','7-,::;2 =~ ;:,~:t!:-;3 c: ~~,: abG\.'Gme:-Hic:sJ perc:e!s c·; ;2.~'::, til'~ '2!',2:i. c~~'::2S c.' .. ";-1i=h ~ie s!.Jj,iec~ ~: f;~I=; c:.:=.:·~: ~~2ns. i~-: 2::::or:j2:=~ \· .. i~j-, ~~;II=n;j~::. G~ner·,·.':~~ :-',~,~"'.~, ::~ :.":=; ":on:::~:7lini~liT: ,.:.'~.:~.'
\ .... 'HERE.!:\S. ~G::l:-, ce;:S:~~:3 '.:J' cor.s~itut~ an:; i8~DS2 L!~)a;: ;'~--:~: ?-;O;:233'IC prC;J8se:; :8ndor;-,:nium pro;:::.: r;-,~i'..!=:: ':~:-:=:I':.i2\ :'2slri:.iior.~ ';,71icr-: sh?!; 5:;r\.'~ 2; ~ i1'2:: '..:po;-': ::2:;-, ~:Jndc;-..-;i:-.iL..'rt: un;', ::-. th-s c:-.::,:-:-·:~iuri'i rJ:o~e·:~ 2;i·: s;-Ia~; intJr~ l~: 2rl~~ l)~;")~! a!: ~·3i:~:: ~·"'.71in·;! o.~ ·rioIDin;. \·C.':·~ii~2~::· = ... :~I':OiUj.t2rii:,' an::: i~-; · .... 71oi~: C~ 1;-. P2:-~. 2;l) cand:)~;:ll' .. !r.·, unit 0: en)' right c:.~ ii.teres: !::s;"e::-s 0;- in the saie =:::;"")doniiniuiT". proje:~. pursuunt ie. I~i~ . p~o"~sior.:; of th~ :'Ci~,·jO:llr~.::...:~ .. ~\:t, for Ihe purp::se 0; enrianci;-I~l aiiG pCii=·::ii::~; P',-= ':2Iu'2, cj~:;iiabiilty. ;:;~:: =\"'=:.:.'~:-:~:;5 e:f SU:tl uni'a;-,:;.:Y ::onciol:oiniL:r.·, 1'[0;::::\.
VVH=r1EAS, p:"'::'"5ua:-.'. :: ~:IC pro1/isi8ns Q: t~·::; Con('~:)I~'l:j\l~Jtr\ : .... :: .. r:GOC: h2::.:b'. ,"xeculC5 this k\E!s:e~ D-=~:d =--.~ ;:-j,:·~:a[8S 2:' iollo"',,,,
!'I\RT 1 .-~
HE r,1J\STEP, D::ED .--,,'
...... - ..... "-;
Al\TNEX B
Section 1.2 Description of Land
The land on v.tli::h the PROJ=~>T is being esleblished is covered wholly or partly by Transfer Certificates of Title Nos. 3"1279 andlor 3"1260 issued by the Registry of Deeds for the Provin:;e of Riza!. photocopies of "'''hich titles are attached herelo and made an integral part hereof 2S Annexes "A-i- a~d ""-T.
Section 1.3 Dcscriotion of Builclin:ls
(a) irl5 PROECT sha!! h:;·.'8 1'.'10 (2) to ... .'~;5 v.:1i:h Sh21; be f,rlO':.11 for 1f1: PeJ'P::'S8 of lhi::; r·,12sle, Desd 25 Tc·.·.;:::c .~. 2:-,·: To,,',''2: Ben: i"ciic2!.e::: i:c Ihe lo;:;:;~i::ln mar; at;.e:;-:=d her=t:;· 0:10 ri;3d-= 2n inl:;:--=: part hs:-:=:..: 2: ,!:..:l;-:e:< "6~. To·.·:-=~ PI and T8\· .. e,~ B 5!-,3:1 be eig~~=elr-I=\'G: buildings e,:::IL!sive c·: the b2SeTtent I=\.'e~s B:ld rne:h2nic-2!
.' I' T' -~-I"o"'- ~~ ,'c'- .'C'_-< -- t--- ' ....... ·n (,I~. -n·1 I"n _.' (" ~I"" pe~inou5e e\'=~s. nei: =::,.c: 1 e I • ....,; ~.~:L I ;:::l~!:!::_. c;::, ;:= I-IU,U ..., ) ~ I"': nl e:;'IIIl. I,,) ) fiJa~s 0;'"1 bo(:-. t::>"'iers
-- - ........ -... -- .. -;;::- .;::, ~::::::: ..... 1::~..J ; .. Ann~;:: "=" Se::iior: 1.~ Des::rioti:-.-
t3) i ;-iE hv:-;:·:.~.:2.; ~O~:-:=2-:' ~:::;;" rr:e=sl-1~e;-:~;e:-... ~ 2;::prOX1:Ti2:.= s=:e2b~= =:=2 C;:"
£:2:;-. c('\ndU;-;i:::!~:T: u .... ;·. consist:: =: tt"l= ce:-;~=~i:;:= c: "'.~;:~. S;--:22;,,~:.;!!5 8;"1C; :oi""'IT',ns "'I"-:-I~:ie'.'er 2::.;3::2;-1: t: ::!~er 52;::=-=:: ars;:: 2-::: exts;i:.~ i;~I~ of v,.·=i!s, shea;-.... -a:!.s al'IC c:J:~~:;-lns 0:-: ;~= eA~.-:=;;:· 5id~ of :~:-= :::...!i:=;:-;;. 2:--;: "',TIS;:='~'=~ ?~ja:-=~I ~.:: ~omr.::J:: a.eas (r .. ,?:;· ... "'2ys. e~e=:.rc-;-T'I[':~. ·:;8ms). :~~-= '.'eri:cc: :::::;~~·=2;:· ~; e~::;"". sa~s=~!s ui,i: S~,2~: be iro~,
5c~S2:...')!e 0;'-== i;-.:i:~d2~ =:; h~r;==:-,~~ p:c·.!~:".::-.5 c:: s~~:..;::·~:=; "·.·2!~~, :::·')~·_;I71r.s 2~·:: Sr-I!:;;~~:
·.·.··;~i1;ii lh~ c;-;;:. ihe5~ ~:~U=iUit:!~ ;.:'''':~'/~I s~;:;:....::: ~~~. jE. c:ter~d b~,' tn~ t~na~~~. ;0 vi=·:.: c/ :~s i;jtegj";~:: c: S::'~~:~L,;:= 2:ld rne:~~=:li::.2~ s~.·st-2:--:-.:::. The i~j::2ii·v·0 s;:--:!:iil:a~iG~s for C'l·:;·l
'~~~,i~ a~e s~,::·~·.~i I; .~."':;-:~::: ·'e R
• 2:~c:~S.j here:: 2~,= iI:=::= 2~ inte;;:-=~ ~2~~ rl~i~:/ (25 C:
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(b) ~c.::-.n ~Ij:-.::.)mln:u;-;-, .. -:. sroll h", .. ", ~ "';::>s:J~.::l:::·i DarL'i"" c--'C)'-"'IC:\ f-,- SCi::::> :c.: :;'I~ cClndo;-;-.::-:i~m un:'. c· ... -::e~ su~:~=:';8 ~e:::i';~ -::.5.;)( ~ S-e;~()';-; i' 7'\ ~:. ~;nj-(L;~'h:::\.t2;::': -
Sect,on '1.5 UsC: of U;)its
(2) .':'.1: condC::-:-li~iurn t..:;~:5 2S diSti~;;:~:5:-~:C :;-c~: tile st.:P;J:Jr'. ia:..:ilii/ units, sha;;
:.J-:'··used ex:.~:..!si'.'~i\.' fa:- resider.li2' :J:"J:--JQS~~ en!' .. S·.J!.J~·~:'~ 1:' ~rl':: r~~J::'::(ior1S 2:ld ii:i~itation5 prO'Jicled f:l'- lri Ihis· r-.',25le~ [)e~:: ~-.:!s·.J::h r:.:ie~, c:-.c·,e;::Jli3:j'_,;1s · ... 11::-;-, lhe: Concior.1inllJrL
Corporali0:". here;nCi~!e' provide:! "7',3;' VClii:i:;. ['·J~ul~a:·::::
(b) FRDe sh21111avc t:1~ c~lion c: re::;:,,;:1g :,J·.·.7'I:::!;sllil' ltl C::;Jrll. (8) support faci!i!:-unllS which it rna)' d:s:~n31~ to i:-::::.Jje Ih~ i:J!!J:.~,";
I. Cunvenien~;:: S:::H(; D~Ii::alesse;-:.·::J rug s lor", l'I;Jirelrcs 50,
Coulicr/Mai' S:,,:ion /
r -ANNEXB --'
5. Laundry Shop 6. MagazinelFlov/er Shop
Notwithstanding the foregoing, and during Ihe ;>eriod that FBDC retains o .... lllership or any designated support facility unit, FBDC may, f:x a period thaI it shatt declare, designate any or ali such units for another designated purpcse \"tJich serves, or v,nich it determines to be favorable for, the interest of the PROJECT. P-,e Condominium Corporation to be organized in ac::ordance with this f ... 'aste, Dee::. or the ::::::·;j·jominium owners in general.
Section 1.6 Common Areas.
(a) The com",:n areas ::: thG P;::,:J:::C, (hereina;ie~, the 'Common .u.reas") she!1 comprise all the pe;-';S of BO~,';;:::.!l.CIO 2::'::;:= other t;':::n the condaminj'..!m units and suoport facility units, incl~din;;; but r:o: limi!.:::c ::: ;:;== fo!!O\vi:lg:
(i) Th", parcels c.: l:::r.::; C :JD;-'li8ns !~,ereof L':>G:-1 \\.11icr. the PROJECT is 'actua!:~: :::.;)ns'~~c:e= en:i/y deveioped :::s herein2~c)'!e
described;
(ii) The jeari;-',; ',';2:.:3, c.:.>..:;-:--:s. ji:;::~S, r0::h, fOUI:::::2:·io;:s. girders, beams,· S~?;>orts 2-:: othe:- ~7,rr.~;-: st;uCt~r2~ e;=:r:ents c; t~~
eondominit...::7l blliijir;~s, exes;::: :;=:-:5 :;-;er80: tr-,al are f0-...!:lC \,;'\:-,;;\ tilS c:onciominiu:7l units 2:-:: s'--!p~;-'. :2:ili,:: un::::::
(iii) The iobbies, 3:2ir,';2~.'3 :-'::'I'.·;3yS, corriciJrs. i::'2 es:.c;:tes, ',';alk"Y"ays, enlran::es is c, ,_ e~i:s ira", tilE:' lc.;'.·.:"'":; an·: It-,~ C:ondomi~;j~;'i\ 2::: C:;"":';." 2~S=5 =.~ :::;G~0;-J L!S~ in the P;:(JJ=.'=!~
(i\..') All c'...!::ts, c::~=u;ts, -e:~=·.":=c. e8,U~pr71er,~, \, .. ~ring. c.abiii,;. rr.aster an(en:'2, a:l: c:he~ ce:-.:~2: 2:-'::: 2~purienanl in5~aliaiions ia: seIYices 2;-'id u\ili,ies in::iuj::-:; P::>':,"ei, iight, v.-ate:, Qar:;aeJ'2 ielephone, teievisio:-, 2:ld the ;::'·.e . .. ·.-'::er"'v'2, !o::::.a\ec. e:cep: those t;-;al are 1::J:::alec: \'/it:l:- :;-,e c.::::-.:::n::-.i!.Jn-, L.:ni~s c~lC: s~oport i2Ci!ily units;
(VJ Ths eie\-'a:o~ :;:1:.J!p:-ns:-: ~:l:: sh2f!s ami L:= a9pu,,~nanl equipmen;; provide:. howe'!::. ::-,2', IrlS CondominiLJiT, Corporation
_ may, for bet~er ciisiri:::...;,jc;: 0: t~:~ eie';a:o~ services, 2ssign irom iirole -. i8 lirne paiii::u:a, eie·;,;::xs t·:, s,=~ ... ::: p2:-,icu!2~ Ooors ani;' a~d b~'-P2S~'
ot.her rIoors;
(vi)
(vii)
(viii)
All ra:nps anc ~:i'.'~\';3·;5 2:-::: 0\1-1-=( s:Ja:.:es In \;-:~ carpart: nol designated 2S a::::Luai G3~kin;; s:Jc::-2,
Subje::, ((' Se::\;o;-, -I.e :.::', the ent~ance porer:, main lobll)"
elevator lobbies ane ssatmg ar£:2S 2;l:: areas or common use in tn::: ~ PROJECT; and
Ttle. \'.-ale' \ani~s and 2~: reservol; for v,:aler mecilanlcal! electrical pumr room:: :~anslorr;-~e~ ra:::JrT1, gcn:;cl room, luel s(orane
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~ r!-----ANNEXB
-room, main low voltage swilchrOOtn, communication room, LPG room, garb'age. areas, storage rooms, security room, maintenance room, administration room, mail room, toilel for disabled, common male/female toilets, and all appurtenant equipment and facilities, and all other parts of the Condominium not mentioned herein but necessary or convenient to its existence, maintenance, or safety.
(b) Tl"le limited common areas of .the Condominium PROJECT (hereinafler, the "Limited Common Areas·) consists of these areas or portions of the Common l'.reas whicl, serve or benefit exclusively one or more uniis or unit owners, or lhe use or enjoyment of 'Nhich are devoled ex::;!usively to certain persons, and are as hereunder expressly classified:
(i) The parlung spaces re7:iTed to in Section ~1.7, the use c:md enjoyment of vvhich shall be govemedby the provisions of said Seciion 1.7;
(ii) The support facility units, the righ:s and inle,ests of FBDC :~ respect of vvhich is defined in Section 1.5(b).
(c) The Condominium Corporation hereafter provided may assign such portions of the available or u:-:utiiized Common Areas as Limited Ccmmc:l ,1I.reas c: io: the exclusive use of parii:;ulai units subject t:: such assessments and other terms and conditions as it may ~mpOSe. Tn:s assignment may be ~C!n::eted or· amend~d at the discretion of the Conciominiurn Corporation a: any time
Section 1,7 Paridng Spaces
(a) There s:-:a:: be ::: i:::;ta! of 307 ::a~ pa,l~;j; S~2:::es i:-: the PROJE.'::::: (as c; \
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(0) Each concominium unit shali have a designatej parking space(s) for saie to the condominium unit O\!Yiler '::ho shall have e;::::::.lSiV5 use a:iG enjoymen; thereof
. provicied thal such owne, purchased the said parking space(sj. No Parking Space(s) shall be sold or transferred separately from the unit to v.nich it pertains, untess othef\·.~se as provided in this Masie, Deed. Unit owner-s, however, may iaase the Parking Spaces pertaining to their uni!s :n fz'..'c~ of thei;- b8:-:2 f~de ter.ants c:-- the Conc8m:n:um Corporaiion.
(c) Any Unsaid Parking Spaces shal! pertain to rBDC. rBDC may, 2~ its soie discretion and Tor such conside:-ation 2S it rr;ay impose, sell, t .. ansfe~, ::om/e)', or lease an)' and all of the Unsold Parking Spa:;es aliocated io it, subject io the condition thal (i) such Selle, transfer, conveyance or lease shelll be made; oni)! ir, ~avc; 0; unit owners of the PROJECT or the Condominium Corporaiior" and (ii) in case of 2 sale, transier or conveyance tea unit owner, th~ Parking Sp~ce shall be set 25:~e and designated fa; exciusive use and enjoyment together with the unif owned by sud! unil ovvner, and shal: be subject to the provisions of Seciion 1.7 (b) hereof. Subje:l te· the pro'Jis:on: 0: tne immedialeiy preceding sentence, F8De, may impose sueii resiriclions or iimilairons on the re~a!e, transfer, cen'le:;cnce or lease of the ers!· .... hiie Unsc!~ ParKin~ Spaces wnich shall be binding against all subsequent rurchcS2'S. lrClllslarces 0: je3See~. Tile c.ii!;;posilion 0: uny such previously Ur.sold Parl~Jng Spuce by unit owners cmd/o~ tile Condominium
ANNEXB
Corporation may be made only in favor of other unit owners of the PROJECT, the Condominium Corpor.ation or t.~e FBDC: provided, further, that in the event that the purchaser or transferee of such Parking Spaces shall cease to be a unit ovvner in the PROJECT, such purchaser or transferee shall, for such reasonable consideration as he may determine, resell, transfer or convey such Parl<ing Spaces in favor of (i) other unit owners in the PROJECT or (ii) the Condominium Corporation, in such order of preference.
In case a lessee of the Unsold Parking Spaces shall cease to be a unit owner in . the PROJECT or a bona fide tenant in the PROJECT, as the case may be, the agreement with respect to the Unsold PCirking Spaces between such lessee and lessor of the Unsold Parking Spaces shall automatically be deemed terminated and the use and enjoyment of the said Parking Spaces shall revert in ravor of its lessor. The lessor shall cause the lease agreement covering the said Parl-'jn;; Spaces to provide that the lease shail be automatically terminated in case the lessee ceases to be a unit ovvner or bona TIde tenant in the PROJECT.
Section 1,0 Condominium Corporation
(a) A corporation to De know;: as BONii='ACIO RiDGE COhJDOfv1iNIUiv'j CORPOP.ATIOf'~ (heretnafier, the "ConcQminium C;:Jrporaticn;/ shall be formed and organized pursuant to the Condominium .4~~ and the Corporation Code. This corporaiion shail constitute the management body of Lnit c ..... ne;s in .the PROJ2CT. The corpo;-aie pCJrposes of the Condominium Corporaiion shall be limited to ov.TIing or hoiding liUe to trls Common Areas of the PROJECT in::::lu::iing ths iane, to the administration and management of the PROJECT and to su::n other purposes as may be necessary, incidental O~ convenient to the a::::ccmpEshmenl 0; said purposes. The jl.rticies of incorporation and By-Laws of the Condominium Corporation shaH no: contain 2ny provision contrary to or inconsisterit dt~l this Master Deed and tne De::::la.aiic;-; 0: Covenants, Conditions and Resrr:::tio:"1s (C ::?} and th~ Design Siailcaros ane Guicieiines (DSG) of FBDC.
(b) .l\1l owners of units in the PROJECT to the ex::iL!sior. of others shall . automak;aliy and imperativeiy be rnerr:bers in the Condominium Corporation ir,
accordance with Section 1.9 (c) hereof. {v',embership in the Condominium Corporaiion Sha" n",j ;...,'" ;~a""sl'orab'c> s· 0para l ",." T·r",.,.... thc> •• ..,ii Of .. rh.~h it is an 2ppurtco nan'"'o 'Nnon a Ii II IV ............ l-l '0 >..I ,.......... .. ..... ': _&11 I .... _",l I 'W~ ,a""'ll. II ...... ___ ." 1 ...... ,
member ::eases to ov:;; 2 unit in the PROJ:::C!'. he s~al' auto ... ali::aliy ceess to b'=: e rnembei of the Condominium Corporation
Sectiun 1.9 N<ltllre of-Inleresl Acguired b\' Purchasers of Unitr,
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I
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I
r ANNEXB
Master Deed and other documents appurtenant hereto, the instrument conveying the un .. to the buyer, and 'to the terms and conditions of any subsequent conveyance under which the buyer takes title over the unit.
(b) Every unit owner shall acquire as an appurtenance of the unit the right to utilize the Common Areas and an exclusive easement for the use and enjoyment of such Limited Common Area(s) or other parts of the Common Areas as may be assigned to his unit pursuant to Section 1.6, subject only to such restrictions, limitations or easements as provided for in this instrument, the Articles of Incorporation and By-Lavvs of the Condominium Corporation and such rules and regulations it may validiy promulgate, and the CCR and DSG of FBDC.
(c) As an appurtenance of ownership of the unit, the buyer shall automatically and imperatively become a member of the Condominium Corporation V\~lh such interests or participation therein corresponding to the percentage or the fractional share which the floor area of his unit(s) bears to the iotal saleable area in the PROJECT. Each member shall be entitled in all meetings to such number of votes as shall correspond to his fractional share in the Condominium Corporation.
(d) Each membe, of the Condominium Co,poration shall share in the common expenses of the PROJECT, and shall accordingly be assessed thereio; based on the covered area of his unit, in the sharing or percentag~ stated in the immediatel), preceding
. paragraph.
(e) In the event that the Condominium CorpOiation is dissolved, the members thereof shall become co-owners of the Common Are2s with such shares corresponding io their appurtenant interest or pariicipaiion in the Condominium Corpoiaiion 2S provided TOi
in this Se::tior. 1.9(c).
Section 1.10 Oction in Case of Involuntarv Dissoiution of the Condominium Cornoration
In case of involuntary dissoiution of the Condominium Corporation TO, any of the causes provided by law, the members of the Condominium Corporaiion shall have the option to ciecide, by the affirmative vote of the members represeniing at least two-thirds (2/3) of the entire appurtenant inierest a, parti::::ipation therein as defined in Section 1.9 (c) hereof in a regula, or special meeting :Alied for the purpose, whether to convert their Interest or participation in the Condominium Corpo,atioil into an indiviciuai CG-ownershio interests in the Common Areas, o~ to sell and dispose of the entire PROJeCT as a whole, inciuding their separate units tnerein, . before ciissolution and liquidation of the Condomini um Corporation.
Section 1.1'1 Amendments/Revisions of Master Deed
(a) FBOC reserves the right to amend at any time the developmen~ pians fOi the PROJECT by filing such additional, supolemen,a: andior revised plans and/a; speciii::ations as may be required by pertinent lav-lS, ruies and regulalion~, to describe adequately th~ completion of the PROJ:=CT, togethe, wi~h the changes therein, if any. Such completion ma~' be shown by a certiflcalG of an ar:::hitec; of engineer certifying tilat the PROJECT has been constructed as herein represented, or designaiing any cllangE:
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ANNEXB
-made. Such plans, specifications or certificate, when signed and aclmowledged by FBDC, and registered in -accordance with the provisions of the Condominium Act, shall constitute an amendment of this Master Deed.
(b) Prior to the completion of the PROJECT, notwithstanding any term or condition of any contract to sell over any unit to.the contrary, FBDC reserves the right to amend, revise or revoke this Master Deed by registration with the Registry of Deeds for the Province of Rizal of an instrument duly executed by FBDC.
PART II
DECLARATION OF RESTRICTIONS ON THE USE AND OCCUPANCY OF THE CONDOMINIUM UNITS
The component units and areas of the entire PROJECT shall be held, conveyed, encumbered, used, occupied and improved subject to the conditions, limitaiions,
. restrictions and covenants hereinafter set forth and in related documents meniioned herein. Said conditions, limitations, restrictions and covenants shall attach to the land, condominium towers and units thereaT, and other parts of the PROJECT, and shall be binding upon all parties having or acquiring any right, title or interest therein of vvhatsoever nature, and shall be for the benefit and be binding upon each successor-in-interest of the owners thereof. .
Section 2.1 Purpose of Condominium Units
Except for the Common Areas and support faciiity units, or otherwise as may be provided herein, the condominium units thereof shall be used only and exciusiveiy as residential condominium units and shali b~ occupied and used only as private residence by theif respective olNllers or authorized lessees thereof, thei: tenants, families, guests and domestic help, and for no other purpose. subject to the restrictions and limitations as provided in this Master Deed, the CCR and DSG of FBDC, and such rules and regulations
). duly promulgated by the Condominium Coroo.ation.
Section 2..2. Disposition of Units
(a) The condominium units may be acquired or disposed of subject .to the provisions of the Condominium Act and other appiicable laws; this Master Deed; the CCR and the DSG, botl, of FBDC, and to such ruies and regulations that the Condominium Corporation shall validly promulgate from time to time.
(b) No transferor conveyance of a unit shall be valid if the concomitant transfer of the appurtenant membership in the Condominium Corporation will cause the alien interest in su:::h corporation to exceed tl)e iimits imposed by existing laws.
(c) In the event a condominium unit owner (hereinafter, the "Selling Unit Owner") wishes 10 sell, assign or transfer his unit or rights thereto. he si1atl first ofter such unil (hereinafter, the "Offered UnH") to the othe. ovvners 0; units in the PROJECT (hereinafter, the "OUler Unit Owners") through a written noiice to the Condominium
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-Corporation addressed to the Corporate Secretary specifying the price, terms and conditions of his offer.
(d) VVithin three (3) business days from receipt of ihe said offer, the Corporate Secretary shall transmit the same to the Other Unit Owners indicating tile dale on which the said offer was received by him. If within the said three (3) business days the Corporate Secretary fails or is unable to transmit the said offer, the Selling Unit Owner may transmit the offer directly to the Other Unit Owners. To all intents and purposes, such notice of the Selling Unit Owner to the Condominium Corporation shall be deemed to be an offer to any of the Other Unit Owners, subject to acceptance within the Offering Period as defined below. .
(e) Any of the Other Unit Owners shall have ten (10) calendar days reckoned from date of receipt of the offer by the Condominium Corporation within lNhich to accept the offer (hereinafter, the uOffering Period"), by transmitting to the Corporale Secretary of the Condominium Corporation or the Selling Unit O'M'ler, as the case may be, a written notice of his acceptance of the offer as well as the cash or certifted check(s) to be drawn on any local or domestic bank in an amount sufficient to meet the terms of the offer.
(f) The Corporate Secretary, upon receipt. of the writien acceptance of any of the Other Unit Owners within the Offering Period, shall transmit 10 the Seliing Unit Owner su~hwritien acceptance(s) and payment(s; referred to in Seciion 2_2 (e) above not later than three (3) business days from receipt 07 the same. In case there are two (2) or more unit owners willing io accept the offer and properly notifying the Corporate Secretary in acc:ordance herewith, the Selling Unit Owner shall have the option to choose the buye, from among the accepting unit owners.
(g) If the offer is no: acceptec within the Offering Period in tile manner prescribed above, the Selling Unit OwnEr. shall be entitied to seli his unit to any other buyer under the same or bette~ price, terms and condiiions contained in the original offer, provided, however, that such buyer is acceptable to the Condominium Corporation. If the Seliing Unit Owner shall be unable to sel! his unit at the price and on the terms and
). condiiions specified in the original offer and is required to lower the price 0, substantially alter the said term::; and conditions, the Seliing Unit Owner shall re-oHer il!S unit in the malle, abOVe-described, except that the Offering Period shall be shortened to five (5) calendar da~'s, at such lower price 0, upon such substantially altered terms and conditions.
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acceptable to the Condominium Corporation, and the Selling Unit O't-lner is not in any manner delinque·nt with respect to any fee or assessment as provided herewith, the Condominium Corporation shall be under obligation to issue the required certification within the said period.
(\) The limitations and procedures contained in this Section 2.2 (c) to (g) shall not apply to the original conveyance of units by FBDC, transfer by hereditary succession, or transfer by any individual to a corporation in exchange for shares of stod; therein of which as a result of such exchange said unit owner, along or with not more than four (4) other persons, gains or maintains control of the said corporation. The term Ucontrot" when used in this Section 2.2 (i) shall mean ownership of at least fifty-one percent (51 %) of the outstanding shares of stock in a corporation whether or not entitled to vote.
Section 2.3 Lease, Mortgage and Other Encumbrance on the Unit. Notice of Lien or Suit
(a) A unit owner may lease, mortgage or otherwise encumber his unit to any third party provided that - (i) a prior written notice of such lease, mortgage or other encumbrance shall be given to the Condominium Corporation, with the name of the lessee or mortgagee indicated therein; (ii) in case of a lease, the lessee is acceptable to the Condominium Corporation; (iii) the said lease, mortgage or en:::umbrance shall be in writing and subject to this Master Deed and other documents appurtenant or relaied hereto; (iv) in case of lease of any such unit and the unit owner is delinquent in the payment of any assessment, including interest or penalty trlereon, the Condominium Corporation may require the lessee of such leased unit to remii directiy in its favor any and ali of the rentals accruing to the delinquent unit owner, v"hich renials shall be applied as payment for his delinquent a~ounts with the Condominium Corporation until full payment thereof; (v) any lien that attaches to the unit by reason of ths said .Iease, mortgage or encumbrance shali be subordinated to the lien referred to in Section 2.6 hereof; (vi) the leasing or mortgaging unit owner shall be under obligation to Incorporate into the instrument of lease or mortgage such provisions as may be necessary to give effect to items (ii), (iii). (iv), and (v) of this Section 2.3; and (vii) the unit owner st1atl not be relieved of his obiigationsunder this Master Deed and othe~documents appurtenant or related as mentioned herein, the Articies of Incorporation and By-Laws of the Condominium Corporation and the Building Rules (as hereinafter defined) by reason of the said lease, mortgage or encumbrance.
(b) A unit owner shall give a written notice to the Condominium Corporation of every iien upon his unit or rights thereto (other than liens in favor of the Condominium Corporation) within five (5) calendar days after the lien shall attach to the unit.
(c) Written notice shall be given by a unit owner to the Condominium Corporation' oi every suit or other proceeding, including therein the nature of such suit or proceeding, which may affect the tilie to his unit or rights thereto within five (5) calendar days after the unit owner obtains knowiedge thereof. Section 2.4 Administration and Management
(a) T~e Condominium Corporation to be formed and organized pursuant io Se~iion 1.8 above, shall constitute the administration and management bod~' of the Condominium once the same is formally turned over to the Condominium Corporation by
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FBDC. As such body, the powers of the Condominium Corporation shall be such as are provided by the Condominium Act, by the Articles of Incorporation and By-Laws of the Condominium Corporation, by this instrument and by the applicable provisions of the Corporation Code as are not inconsistent \vith the Condominium Act. Without limiting the general nature of its powers, the Condominium Corporation shall have the power 10 enforce the limitations, restrictions and conditions contained in this instrument; to promulgate rules and regulations concerning the use, enjoyment and occupancy of the units, Common Areas and other properties of the PROJECT; to make and collecl assessments against the unit owners as members thereof to defray the costs and expenses of the PROJECT and the Condominium Corporation and secure by any legal means the observance of the provisions of the Condominium Act, this Master Deed, the CCR and the DSG of FBDC, the Articles of Incorporation and By-Lav-IS of the Condominium Corporation and the rules and regulations promulgated b~f it; and to assign or delegate the actual or day-to-day administration and management of the PROJECT to a qualified property manager.
(b) Nothing contained herein· or in the Articles of Incorporation or By-Laws of the Condominium Corporation shall be construed as granting the Condominium Corporation the power to conduct an active or regular business for the profit of the members, and the Condominium Corporation shall not declare dividends of any kind whatsoever.
(c) For' a period of fivlCJ (5) years from and after the formal turn over of the PROJECT by FBOC" to . the Condominium Corporation" the administration and management of the PROJECT shall be assigned or delegated by the; Conc:iominium Corporation to a property manager to be nominated by FBDC
Section 2.5 Maintenance. Rcoairs. and Alterations
(a) Every unit owner shall be responsible for the maintenance alld repair of his unit. ::xcept as may be iimited or restricted herein, or in the CCR and the DSG of FBDC, or in the By-LaV\/S of the Condominium Corporation or su:::h rules and reguiaiions as the Condominium Corporation may validly promulgate, every unit O'Nll8r shali be soiely responsible fo, refinishing or decorating the interior surfaces of his unit.
(b) 1-. unit owner or in proper cases, a unit tenant or occupant. shall not undertake any structural repair, modifications or alteration on his unit, or otherwise any warl, which will jeopardize the safety of the cpndominium buildings or another unit or affe:::'. the uniformity of the interior hallwa~'s and the fayade of the buildings or impair any easement, except as otherwise provided in this Master Deed.
(c) The unit owner shall be liabie ior all damages to any other unit, the Common Areas or Limited Common Areas due to his fault or negligence, or his failure or refusal to effect the required maintenance or repair as herein provided or as may validiy be required ; of him by the Condominium Corporation or to perform his other obligations under this J instrument and other appurtenant documents .. A unit owner.~uyer, tenant or occupant (,)tV shall likeWIse be under obligation to promptli reporl In wrlling to 1I1e Condominium U/ Corporation any defect 0, need for repairs on any of the Common Area:; or Limited Common Areas found in or in the vicinity of ltle unit. Tile. iiability of the unit owne, includes that arising from acts made or caused to be made by persons of which said unit owner is responsit)le
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(d) All maintenance and repair work on the Common Areas and, excepl as otherwise provided in this Masler Deed, the Limited Common Areas wherever located shall be for the· account of, and undertaken by, the Condominium Corporation in accordance \·.~th .the By-La\N'S thereof.
Section 2.6 Assessments
(a) From and after the date FBDe fonnally conveys or delivers the condominium unit to the unit owner in accordance with the instrument of sale the owner of each unit shall be liable for- the common expenses of the PROJECT, whi~h shall be assessed against each unit owner in the said project and paid to the Condominium Corporation, as provided in Section 1.9(d) hereof at such times and in such manner as . shall be provided in the By-La ..... 'S of the Condominium Corporalion.
(i)
(ii)
Regular assessments for such amounts as shall be necess·ary to meet the operating expenses of the Condominium Corporation, as well as such amounts, determined in accordance with the provisions of the 8y-LaV\'S of the Condominium Corporation, to be used for the purpose of creating and maintaining a special fund for· capital expenditures in the Common Areas of the PROJECT; including the cost of extraordinary repairs, re:;onstruction or restoration necessitated by damage, depreciation, obsolescence, expropriation or condemnation of the Common Areas or Limited Common Areas or part(s) thereof, as well as the' cost of improvements or additions thereto authorized in accordance with the provisions of the said By~ Laws;
Special assessments fo~ such amounts as may be necessary to make up for the deficiency in case the special iund provided lor above, together with the insuran:e or other proceeds or recovery, if any, are insufficient to cover the cost of such capital expendilures on the Common Areas, unless the damage, obsoiescence, expropriation or condemnation is of such extent as to mee: the conditions for dissolution of the Condominium Corporation required by the Condominium Act and tile required vole of unit owners decide for dissolution:
(iii) There may also be assessed agains~ the unit owners, in tile manner prescribed herein or in the By-La .... 'S of the Condominium Corporation, such other reasonable assessments as are nol specifically provided for herein.
(b) Particular units may also be subjecl to special assessments authorized in accordance with this Master Deed, the CCR and the DSG of FBDC, or the By-Laws of trle Condominium Corporation for non-common expenses (hereinafter. thE: ·SeparatE! ; Expenses") such as but nol Itmitec to costs of repalf~ 01 Common Area: 01 Limited L' ,-y;\ Commarl Areas damaged by or through the a::ts or negligence of tile owner:, tenants or / occupants of particular units pursuant to Se::lIon 2.5 (c), tax and assessment!:: relerreci to in sedion 2.15, and other assessments referred \0 in Section!> .2.10, 2.12 and 2.13 hereof.
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(c) The amount of any such assessment, plus inlerest, penalties, attorney's fees . and other charge-s incurred for the collection of such assessment, shall constitute a lien . upon the unit and on the appurtenant interest of the unit owner in the Condominium Corporation. Such lien shall be constituted and the same shall be enforced, or the amount of the assessment otherwise collected, in the manner provided in the By-Laws of lhe Condominium Corporation; and except as otherwise provided by this instrument or the Condominium Act, said lien for assessment shall be superior to all other liens or encumbrances. In case of foreclosure of the unit, the transfer or conveyance, as well as redemption, of the unit, shall include the unit owner's appurtenant membership or interest in the Condominium Corporation. The Condominium Corporation shall have the power to bid at the foreclosure sale.
Section 2.7 No Subdivision or Partition of UniUParldng Slot
No condominium unit or parking slol defined and established under this Master Deed shall be subdivided into smaller units, nor shall such unit or parking slot be partitioned, either judicially or extrajudicially, among the co-o-wners thereof except by sale of the entire unit and distribution of the proceeds. No parking siot shall be partitioned separately trom the unit to \Nhich it corresponds.
Section 2.8 Limitations on Use of Units and Common Areas
Except as olherwtse provided in this Master Deed, tile Common Areas and Limited Common Areas of the PROJECT shall be occupied and used subject to the ioliowing limitations:
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(ii)
(ii i)
There shall be no obsiruction of the Common Areas interideci for ingress, egress or access to any portion of the condominium buildings; .Ii;.
Nothing shal! be done o~ I(ept in any unit, the Common Areas 0, Limited Common Areas which will endanger the liie and safety of the occupants of the condominium buildings 0:- their guests or will increase the rate of insurance on the condominium buildings without the prior consent of the Condominium CorporcHion. No ovvner shall permit anything to be done or kept in his unit, in the Common Areas or Limited Common Are~s whbiC~ wil; result in the canc:llatio~. of / insurance on the condominium ulldings or any part thereOi 0, vvnlcn would be in violation of law. Any such increase in insurance premiums shall be charged to tile unit owner responsible therefor and ~ assessed in accordance with the procedure provided herein;
Every unit olJllller is obliged to keep and maintain his unit in .
good and sanditary COt~ditilon allnd rep I ~ir. d"IO noxio\us, innammableholr\ / .. /--nJ explOSive goo s or 0 ner ega y pro 110lie materia 0:- suostance s a I /"1 be I<ept, or offensive or legally prohibited activity be carried on or '-I caused or allowed to be carried on, in any unit, in the Common Areas 0; Limited Common Areas, nor shall anything be done trlerelri which I /
may be or become an annoyance or nUisance to the otner unlt(s) or J ( the publi~: and "
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(iv) Nothing shall be done or placed ifl any unit in the Common Areas or limited Common Areas 'Nhich will impair the structural strength of the condominium buildings, or change the appearance of any exterior portion of the condominium buildings.
Section 2.9 Building Rules
The use, occupancy and enjoyment of each unit, whether by the ovvner thereof, or his tenants or lessees, as well as the Common Areas' or Limiied Common Areas shall likewise be subject to such uniform rules and regulations (herein, the "Building Rules") as the Condominium Corporation may from time to time deem necessary or convenient for the efficient and mutually beneficial management and operation of the PROJECT.
Section 2.10 Procedures and Penalties for Violation of Restrictions and BuHding Rules
. In the event that any owner, tenant or lessee of an~' unit, fails or refuses or neglects to comply with any condition, iimitation, restriction or covenan~ herein contained involving an obiigation other than the payment of money, or with the CCK. and the DSG of FBDe, or with the Building Rules, the Condominium Corporation may, in accordance with the ByLaws of the Condominium Corporation remedy such breach or violation 0, neglect after failure of the unit owner to do so within the reasonable period fixed in tne notice and assess against the unit owner all the e~penses incurred by the Condominium Corporation. The Condominium Corroration is also empowered to impose, by VvClY cif penalty in case of violation, liquidated damages upon the unit owner in such amount and in the manner prescribed in its By-Laws. When such liquidated damages are imposed, the same shall be considered as an assessment upon the uni~ and, Hi(e the assessment lor expenses, sha!! be se:ured by the lif~n provided for in Sectio~ 2.6(c) hereof.
Section 2.11 Waivers
No condition, limitation, restriction 0, covenant herein contained ailS no rule or reguiaiion in the Building Rules shall be deemed to have been abrogated or VvClived by reason of any failure, in whole or in part, to enlorce the same, irrespective of the number of vioiation(s) or breach(es} thereof which may occur. The VIoCliver of any prior or "Subsequent violation or breach, is not a waiver of any subsequent or prior breach
Section 2.12 insurance
The Condominium Corporation shall, TO:- its benefit, and for the beneftt of all the unit owners or their mortgagees, if any, as their interest may appea~, obtain and maintain at all times insurance policies insuring condominium unit owners against ioss by iire, earthouake "fire, earthquake shock, windstorm, flood, typhoon, .... \ialer damage. explosion, smol<.£;, falling aircraft, third party liability. maiicious damage, riol, strike, civil commotion. terrorism, military insurreciion, casualty,' liability, vvorkman's compensaiion, other extraneous perils and other insurable risr:s and for bonding of the members of any management body,' with such extended coverage as is customary lor buildings in the locality for the iull replacement value of ths units (excluding the improvemenis, furniture, fixtures and personal properties suppiled o~ installed by the unit oVloners). ihe Common Areas and Limited Common Areas in the PROJECT. Such replacement value may, wilh
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the conformity of the insurance company concerned. be revised by the Condominium Corporation from-year to year, if necessary. The policy or policies shall provide that the proceeds thereof .shall be payable to the Condominium Corporation, as trusiee for the unil ovvners or their mortgagees, if any, and subject to this limitation, shall also provide for a separate loss payable endorsement in favor of the mortgagees of each unit. if any. or of the Condominium Corporation. Upon receipt of the proceeds, the Condominium Corporation shall use or pay the same in the manner provided for in the following section, The premiums on such policy or policies shall be considered an operating expense of the Condominium Corporation and shall be assessed against each unit in accordance with the provisions of Section 2.6 hereof. Nothing herein contained shall be construed to prohibit any unit owner or his mortgagee from obtaining additional insurance on the unit corresponding to the owner's improvements thereon; provided, however, that such right shall not be exercised in such a lfoIay as to decrease the amount realizabie by the unit ovvner andior his mortgagee who shall be obliged to notify the Condominium Corporation before obtaining such additional insurance coverage and, within thirty (30) calendar days after issuance of the insurance policy, to submit a copy thereof to the Condominium Corporation.
Section 2.13 Insurance Claims
(a) A. II proceeds from the insurance claims, unless the conditions Tor ciissoiuiion 0; the Condominium Corporation required by the Condominium Ac; exist and the required vote of the unit owners decide lor- dissolution, shall be used for the reconstruction or repair of the condominium buildings or the damaged part or parts thereof. Re~or.slruciion or repair as used in the present conie>..i shall maan restoring the condominium buildings, the affected units (excepting the improvements, furniture and other ftxt~res instalied o~ supplied by the owner thereof) 'x any part thereof to the same condition as it existed Driar to the lOSS, with each unit and the Common Areas having, io tns closest aoproximation possinls, tns same veriical and horizontal boundaries as before
(0) If the insurance proceeds are insufficient to pay all the costs of reconstru::;tion or repair of the Common Areas, the deficiency shall be supplied out of the special Tund Tor capital expenditures and, if a deftciency shall still exist thereafte~ ,another special assessment shall be assessed against each uni~ ovvner to cover such defic::iency as Drovided in Section 2.6 hereof. Any further deficiency shall be covered by funds io be raised by the Condominium Corporation 0: iis members in the manner determined at a spec::ial meeting duly calied for the purpose.
(c) If the, pro rata insurance proceeds are insufficient to pay ali th,s costs of reconstruciion or repair of ons or more 0; the destroyed or damaged units, the Condominium Corporation may nevertheless proceed with reconstruction or reoair of the destroyed o~ damaged unit or units and the respeclive ovvner or ovvners shall become liable to an assessment tor the deficiency, unless the conditions for dissolution 0; the Condominium Corporation required by the Condominium Act exist and the required volt: cf unit owners decide for dissolution,
Id) Ii. by reason of the ciissolution of tiw Conduminium Corpolation or tor any other- r88son, !r)e insurance proceeds are no~ u:oed 10r r~consiruction or repai~ 33 herein provided, the proceeds shall be paid first, to the Conoominium Corporation to oS' applied against an" unpaieJ or unsettled assessments agains~ unit owners impusecl by the
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Condominium Corporation in accordance with Section 2.6 hereof, then \0 U,e respective mortgagees of Hie units or of the Condominium Corporation to the extent of thc amount outstanding on the loan secured by the unit or the Common Areas or Limited Common Areas as part thereof, if there be any, and the balance of the proceeds 10 the ovmer or ovvners 1hereof, as his or their interest may appear after deducting Ihe amount of any assessment due from'him or them.
Section 2.14 Eminent Domain
The taking of any unit qr parking slot or any of the Common Areas or any portion thereof by virtue of the State power of eminent domain shall be deemed a casualty and the award for such taking shall be treated as proceeds from insurance on account of casualty.
Section 2.15 Real Property Taxes and Special Assessments
The olMler of each unit shall be solely and exclusively liable for the real property tax on nis unit and parking slot(s), and the said tax shall constitute a lien soiely on such unit andior slot. In the event that any tax or special assessment may becom:::: 2 lien on the entire PROJECT, or on any part thereof not pertaining to a pariicular uili: or units, the same may be paid by the Condominium Corporation and assessed by the latter against the unit owners with such rate of interest and cost as it may determine, Such assessment shall be secured by t~e lien provided for in Section 2.6(c) hereof.
Section 2.16 Entry for Maintenance. Servicing and Reoairs
Every unit and.parl<ing slot in Ihe PROJECT shall be subject to right of eniry by the Condominium Corporation or its duly authorized agents to inspect the same, as well as all pipes, wires, ducts, cables, conduits or public uiiiity lines and other Commor', Areas and Limited Comrnon Areas located within the unit, to remove violations therefrom, andiOi to provide general maintenance and servicing in such areas, or com:iuct necessary repairs for ,,".'hich the Condominium Corporation is responsible. Such entry sr,ali be made ciuring reasonable hours, except in case of emergency, and with least inconvenience to the
') olNner as possible and any damage caused thereby shall be repaired a~ the expense 0; the Condominium Corporation in accordance with its rules,
Section 2.17 Naming Riahts
FBDe shall have the exclusive right to provide the name for the PR8J::.CT and for th€! towers or parts thereof, to prescribe the appropriaie design ther~iD~, ~i)iI,ing into account the over-all design of the PROJECT and the condominium towe:s. The names so designated by FBDC with noiice to the Condominium Corporaiion, shall not be ~i1anged or modified without prior vvritten consent of FBDC. FBDC may, under such reasonable terms and conditiDnsas it may provide, assign its rights to the Condominium Corporation. Section 2.18 Rights/Obligations of Assignee, Mortgagee, Tenants and OccllPants /
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All present'and luiure owners, tenant£', ami occupant~; of unit~ shall b2 subjecl 10,0 ~:i::i ~hall comply with, the follo ..... ing governing rule:;: (i) the pro\'isicn~ 8f the: Condomir:ium I Acl; (ii) this Master Deed; (iii) lI"1e CCH and IrH? DSG o( F!JDC; (i\') thE: )\rl/clE!~: o( I Incorporation of the Condominium Corporation; (v) the By-Laws c; thE: Condominium ~,~ Corporalion; and (vi) the Building Rules and olher rules am: regulations Clcioptee! pursuani '1
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ANNEXB
thereto, as these instruments may be amended from tIme to time. The acceptance of a deed of conveyance, or the entering into a lease or mortgage contracts, or the occ\.Jpancy of any unit, shall constitute an acceptance to be bOL:ild by the provisici1s of such
. 98'Jerning rules, as they may be amended from time to time. The provisions c8ntained in such governing rules shall be covenants running with ihe land and shall bind any person having at any time any interest or estate in such unit, as though such provisions were recited and fully stipulated in each deed, conve}'ance, lease or mortgage thereof.
Section 2.19 Obligations of SlIyers of Units Pending Transfer of Title
Any provision of this Master Deed to the contrary notwithstanding, the buyer of any unit, from and after delivery date as defined in the sales contract pertaining to said unit, shall observe all the conditions and restrictions as provided in this Master Deed, and shall be liable for all risks of loss and damage to the unit (except those resulting from structural defects), charges and fees for the utilities and services, taxes and other obligations and C!ssessments appertaining to the unit pursuant to the Master Deed even if titis to the said unit has not been transferred to the buyer thereof.
Section 2.20 Amendment
Tile Declaration of Restrictions (Pari II of lhis instrument) may be amended by the affirmative vote of the ovmers of units whose ClppurtenCli1t interest entitle them io exercise at le2st two-thirds (2i3) of the voting power in the CondominiurTi Corporation 25 determined in accordance 'Ivith the Ari.:c!es of Incorporation and By-La .... 'S of said corpo,ation.
Section 2.21 Te~mination
The termination of this PROJECT and the Condominium Corporaiio:: estabilshed in connection herewith shali be governed by the provisions of the Condominium A::t and other pertinent and applicable lavvs of trle Philippines.
IN WITNESS WHE::REOF, FBDC he::; caused this instrument to b~ signee..! by its duly authoriz.ed representative on the date and in the place first above-writter •.
FORT BONIFACIO DEVELOPMENT CORPORATION
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CARLOS S. RUFINO Senior VIce President
Signed in ths presence of •
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--ACKNOWLEDGMENT
Republic of the Philippines) Taguig, Metro Manila ) S.S.
~,QF\t= M~9 a Notary Pubiic for and in Taguig, Melro Manila on this day of ____ NU_V~t.=--4.&..-;l=-:o:~9,-",,9_, __ personCllly appemed CARLOS S, RUFINO v-lith eTC t-Jo, 00047602, issued, at Makali Cily on February 25, 1999, represenling the Fort Bonifacio Development Corporation, kno'tlTl to me and to me kno'vVTI to be the same person who executed the foregoing instrument, and \,e acknowledged to me that the same is !lis free and voluntary act and deed, and that of the corporation he represents. The foregoing instrument, which is a Masler Deed willi Restrictions consists of seventeen (17) pages, in:::luding this whereon the acl~nowledgmenl is written, and is signed by the PARTY and its instrumental witnesses.
WITNESS MY HAND AND SEAL affixed on the dats and at the piace abovev."rjtten.
Doc. No. q ..... i D N -;"?' ,age O. ..:.~:::o:--=,-_
Book No. 1-Series of 1999.
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CHARt:;:rl' r .A. MeRCADO Nc..r~HY PUBLIC lin til J i. De::.. zooe
PHt 326452. 1 aQuig 04, Jar .. 9S IElP ,,;,!!SSJ Q.:. Ot" Jar;. 95
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ANNEXB
levels. There shall be no noor identifIed as the [ounh (<1lh) and thirtecn~h (13 Ih ) fioors on both towers.
(b) The PH.OJECT shall have.: a tOlul or loX condominium units as specified 1I1
Annex "B" and G support rucilill' units as sJlecified in Annex "e".
3) Identification (lr Designnte!ll'nr\(ing Sp:Jec(s)
Section l.4(b) of the Master Deed is b~reby amended to rcad as follows:
"(b) Each condominium unit ~hall ililvc a designated parl~ing spucc(s) lOr sale Ie>
tlic condominium unit owner subject to Seclion 1.6(b)(i), Section 1.7(a) and eb) hereof. The designated parking snace(sl for each condominium unit is' idemified in Annex "Du. "" -:,
4) l1sc of Units
S~clion i .5('0) of tk Master Dc:eLi is b::reby amended t('o re.ac as 101iows:
"(bi FBDC shall have the oprion of retaining ownersnip to six (6) SUppOrL facility units, which it may designate to include, bu: the riesilmation of which is no: limited to. toe following:
1. Convenience Store Deiicaressen i DrugslOr~
, Hairdresser .:;. Courier! Mail Station 5. Laundry shop 6. IVlagazine I Flower shop
Notwithstanding the foregoing, and during the period that FBDC retains ownership of any designated sllppori facilily unit, FBDC mny; for a re~i()d .tl):ll i, sh1lli declare, dcsiQnate an)' or aE such unils fo; anotheT desig.nated purpost" wiJici~ serves, or wilich i~ detcrn~ines to be Juvornole ior, til:: imeres! of 111(; Pf:OJECT. til:.: Condominium CorporatiOlI LO b·.; organiz::u in accordance WIll, tiJi~; Jvlaslcr Deed, or the condominium owners in gene.a1.
5) Commoll AI"cas
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ANNEXB
"(a) The common areas of the PROJECT (hercinnfLcr, the "Common Arcas") shall comprise all tne patts of BONlf ACIO RIDGE other than thc condol11ini um units anci SllPPOl1 facility unit, including butllo! limited to the followinQ,:
xxx xxx
(vii) Subject to Section 1.6(c), the entrance porch, main lobby, elevator lobbies, multi-purpose function hall, and scating areas and areas of common USt; in thc PROJECT;
xxx
13. Compliance with the Rcgui,oemcnts of Sectioll 1.1] of the Master Deed
Pursuant to the requirements of section 1.11 of the Master Deed, the revised pian indicating and specifying the change in the ciescription of the buildings (specifically the change in tne identification of the buildings and the change in tbe number of support iacility unils), and the change in the floor level d~signation, as stated ir, Section ~o.: ilereo:, ciuly signed and acknowledged by FBDC, is auached and incorporaied here:.c> c~ Annex "B", anc., together \-viti! all the other annexes, is to be submitted with tois Secane ,Ll.menciment to the Master Deed, for filing with the Registry of Deeds fo, the hovinc!': or Rizal.
C. l' rospeetiye Effects
~x::ept as speciilcaliy amended i1creby, th'~ olhe, provisions or lh~l\b5le; Dece siial! remain iIi full force and effect, and tbe Master Deed silal1 be construed with this Amendment so as to proouce as a resuit tilat is harmonious and consisLen', thercwiti:; PROVID2D> that in case of any inconsistency or conflict between the provisions of this Second Amendment to the Master Deed, and til:: Master Deed as amended, tn~ provisions of this Seconci Amendment to the Master Deed shall prevail. From and aite: the ciate ilereo;, all references in the lvlaster Deed, as now amended, to "the: MasLer Deed", "hereo:", "hereunder", "herein", and worc.is of similar import sha!! be cieemed to 'or: references to the Mast::, Decd as amended herein. and the h·!aste, Det:c.l shull D~ reaG and construed with this Second Amcndment to tilC f\..·!aster Dced as anl: inlegrat::u (\OCllI11Cni incorpol'uting the amendment effected herehy.
11'\ WITNESS WHEREOf.. this Second Amendmellt to the Mast::!' Deed i~ hereunue;' dul:-' signed by nuthorized rcrl'cseIllulivcs of lll~ fool'; UOl1ifuci(l D::velopmCl11 Corparulinn, 011 til:.: dale ;.Lnd :It thi.: plac:.: Ill'Sl ubovl: m:.:nlioncd.
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ANN,EX B
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d FOR~ONIFACI':\~'~J~)~LOI'MENT CORP.
llr/ 5: t?-- .~ ~e., ~~\
BERNARD O. ~) CARLOS O. N~ VA \ Head of COlpZ/·l rei I Operations Chief Finance Officer
Signed in the presence of:
CJ- c!r:tJ /
ACKNO'\\'LEDGEMENT
REPUBLIC OF THE PHILIPPINEs MAKAT!, METRO MANILA
BEFORE ME, Co Notary Puoii: for ane in lviakc.ti Cit)', J\,letrc j-... f~-:ii? or; t!:i.5 Gny of SEP--fL8 2003 200:;, perso.:;ally appec.red to.e [oliowing
3~:FCNARD O. DY CARLOS O. NA VA
Do:. No. '..:~L F<l~~ lo,/o. 'to'!; Bo~i: No. ITf£:.; SCrl~S of 2003
CTCNo. 20830379 2147899:
Issued a:: Or:: Makati Ci,y
Quezon City MaIer, ..;, 2003'
Janua.ry 2[. 2003
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U.\,TIL. UECO r.i( 31; 200} PTIl li'ull.l.i7
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ANNEXB FIRST AMENDMENT TO THE MASTER DEED
OF THE BONIFACIO RIDGE PROJECT
I(NOW ALL MEN BY THESE PRESENTS:
This First Amendment to the Master Deed of the Bonifacio Ridge Project, dated (hereinafter referred to as this "First Amendment to the Master Deed"), made and executed in Taguig, Metro Manila, by:
FORT BONIFACIO DEVELOPMENT CORPORATION, a corporation duly organized and existing under and by virtue of Philippine laws, with offices at Bonifacio Centre, Fort Bonifacio, Taguig, M.M., represented by its Senior' Vice-President, Commercial Operations I, MR. CARLOS S. RUFINO, and its Senior Vice President and Chief Finance Officer, MR. JOSE MA. K. LIM, (hereinafter referred to as "FBDC").
WITNESSETH:
WHEREAS, on 06 December 1999, FBDe filed 'Nith ths Registry of Deeds for the Province of Rizal, the "Master Deed 'Nith Declaration of Restrictions of Bonifacio Ridge Project" (hereinafter referred to as the "Master Deed"), entered thereat as Entry No. 5663, Volume 106, Time 3:24, and which document is likewise entered in the notarial registry of Atty. Charles P.A. Mercado on 2Lt November 1999, as Doc. No. 467, Page No. 33, Book No. I, Series of 1999;
WHEREAS, section 1.7(a) of the Master Deed specifies 307 parking slots for the Bonifacio Ridge Condominium Project of the FBDC (hereinafter referred io as thE: "Project");
WHEREAS, FBDC desires to amend the specified number of par~\.ing slots and the corresponding plan therefor, and to increase the same to 383 parking slots;
WHEREAS, the master Deed, in its seclion 1.11 provides the procedure for the amendment of the Master Deed, and reserves to FBDe the right to amend the same;
NOW THEREFORE, fo, and in consideration of the foregoing stipulations, t=BDC hereby makes manifest the first amendment to ttle Master Deed, as rolloV\'S:
Section 1 Amendment of Section 1.7 of the Master Deed
Section 1.7(a) of the Master Deed is hereby amended to read as folio'NS:
"(a) Trlere shall be a total of 3B3 car parking spaces in thE: PROJeCT (as of 1.t August 2000j."
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ANNEXB
Section 2 Compliance with the Requirements of Section 1.11 of the Master Deed
Pursuant 10 the requirements of section 1 .11 of the Master Deed, the supplemental plan indicating and specifying the change in Ihe number of car parking slots as stated in section 1 hereof, duly signed and acknowledged by FBDC, is hereto attached and incorporated as Annex" A", and is to be submitted together with this First Amendment to the Master Deed, for filing with the Registry of Deeds for the Province of Rizal.
Section 3 Prospective Effects
3.1 Except as specifically amended hereby, the other provisions of the Master Deed shall remain in full force and effect, and the Master Deed shall be construed with this Amendment so as to produce a result that is harmonious and consistent therewith; PROVIDED, That in case of any inconsistency or conflict between the provisions of this First Amendment to the Master Deed and the Master Deed, the provisions of this First Amendment to the Master Deed shall prevail. From and after the date hereof, all references in the Master Deed, as now amended, to "the Master Deed", "hereof", "hereunder", "herein", and 'NOrds of similar import shall be deemed to be references to the MasLer Deed as amended herein, and the Master Deed shall be read and construed with this First Amendment to the Master Deed as one integrated document incorporating the amendment effected hereby.
IN WITNESS WHEREOF, this First Amendment to the Master Deed is hereunder duly signed by authorized· representatives of the Fort Bonifacio Development Corporation, on the date and at the place fIrst above meniioned.
By:
FORT BONIFACIO DEV. CORP.
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CARLOS S. RUFlNO Senior Vice President Commercial Operations I
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And By: r~' " /(jr-JOSE M . K. LIM Senior Vice President and Chief Finance Officer
hrsl Amcllrimr:nI lC) Iii .
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·ANNEXB ACKNOWLEDGMENT
REPUBLlCbF THE PHILIPPINES ) MAKATI, METRO MANILA ) S.S.
BEFORE ME, a Notary Public for and in Makati City, Metro Manila on this da)' . of SEP 2 6 2001 , personally appeared the following:
CARLOS S. RUFINO JOSE MA. K. LIM
CTC No.: 64107481 09226962
issued at: Makati City Tagui9, M.M.
on: 15 January 2001 07 March 2001
both for the Fort Bonifacio Development Corporation, and both known to me and to me known to be the same persons who executed the foregoing instrument, and they acknowledged to me that the same is their free and voiuntary act and deed, and that of the corporation they duly represent. The foregoing instrument, which is a· First Amendment to the Master Deed of the Bonifacio Ridge Project, consists of three (3) pages, including this whereon the acknowledgment is written, and is signed by them and their instrumental witnesses on each and every page thereof.
WITNESS MY HAND AND SEAL affixed on the date and at the piace above'Nritten.
Doc. No.· 61~ Page No. 3J:;; ; Bool< No. .lSeries of 2001 .
/J~~ ~ ------\, Jli SE \\\J\i'!UEL L. JJtCNA \I AD'
NOTARY PUBLIC UNTl!. DSCEMDEft 31,2002
• PTr~ NO. 22.S3'705/U3·Z[;·()I/G.C.
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FirSi Amemimem Iii the Mas 'r Dced (l( Ihe iJoniiac/(I lUll)!!! /'r(JIcc!
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SE.COND AMENDMENT TO TUU: lVlASTER DEED OF THEUONIFACIO HlDGE PI~O.JECT
)(NO\V ALL MEN BY TIIESE 1'IU:'SENTS:
ANNEXB
This Second Amendment to the Jvlaster peed of the Bonifacio Ridge Project, diJled SEP 0 8 200L (hw:inafu:!r referred to ns this "Second Amendment to the Master Deed"), made nnd executed in Taguig, Metro Manila, by:
FORT BONIFACIO DEVELOPJ'vIENT CORPORA TIOT\, n corporation dllly organiz::.J anc! existing under and by virtue of Philiopine laws, with offices at Bani facio Centre, Fort Boniiacio, Taguig, Metro J",bnila, represented by its HeiJd for Commercial Operations, MR. BERNARD O. DY, and its Chief Finance Officer, MR. CARLOS O. N.~.VA, (hereinafter referred to as "FBDC").
WITNESSETH:
WHER.EAS, on 06 December J 999, FDDC fii::d \.\"i'.h tile R:;gisl:Y 0: ;)eeC:5 fo~ liie Province 0; Rizal, tbe "j\'laster Deed 'with Deciaration of Resuictions 0: Bonifacio Ricige Project" (hereinafter referred to as the "1\,lastc, Decd"\ entered therca: as ::mry No. 5663, Volume 106, Time 3:24, anJ which documem is likewise entered in tbe notarial registry of Atty. Charles P.A. M::.rcatio on 24 )\iovcmbe. 1999, as Do:. 1'-io. 46"7, Page No. 33, Book Nu. I, Series of 1999;
WHEREAS, on ______ , FBDC filed with tne Registry 01 Deeds fo~ the Province of Rizal, the "Firs: Amendm~m:; w the Maste, D~:!l1 of tile Boniiilcio l,-iuge Pro.ie:::'· (ilereinafter referred te:. ns the "First Amendment to til:; Master Deec"), entered lnerea', as Entry No. , Voiume , Time om, and which document is likewise entered ir, the notarial registry uf Atty. jose J\.1anuel L. Banayad or, 2.6 Scptemoc; 200:, as Doc. 512, Page No. 35, Book No. I; Series of2001.
\VHEREAS,the Master Deed specifIes tbat FBDC is the absoiut:: and registered owner of two (2) cuntiguous pnfccls of land located within Fort Bonifacio Giobal City. iaguig.. Metrc) tvlanilil, \.vhicb parceis of i:lI1d arc covered b~ TrallSfe; Ccn.iflcal~s oiTiti:: )'-ios. :;: 27~) ami 3121W of tilt: Registry 0;- Deeds for till.: Province:: of Rizal; and thai ?13DC is constructing, developing, anel establishing;) condominiul1": project on th~ whole or pOilions of the abovementioned parcels of land, tbe exaCl areas of \vilicb are subject to
th~ final detailed plans, in accordanc:: with Repubijc ACl No. 4726. as amended. otilcrwis:: I:nown as Lhe:: "Condominium Act";
WIIEHEAS, on I:; .llll~· ~O(ll, FlJDC n::collii~tlr~d til:: 5uixijvision 01 th·,' 1(11
pl;JJ1s ()r til:: :lhnvc.:mcJlli(lII(·d p:lr~·..:i:; or 1;111(\: (;;lllc;t:d the' :;;1I1~:::II;!II()r) u!' Tlli:' i~u:,. :; ~::'~/li ,me.! :; i~SCI; allei \'iii:; i:;~;uL!d ill rCpiilCL!nlClll til tile -':i1llct:lIt:(! 'lr:llIsft:r C·.;nii·lcat:.::, or Tllic~ .
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ANNEXB
Transfer Cenifieates of Title Nos. 37539 and 37540 by the Registry of Deeds [or the Province of Rizal.
'WHEREAS, under Section 1.11, FDDC reserved the right to amend ill any lime the developmcnt plans for the Project, and the right to amend, revise or revoke tbe Master Deed by registration with the Registry of Deeds for the Province of Riz.al of an instrument duly execuled by FBDC.
VlIlEREAS, FBDC intcnds to amend tbe development plans for the Project and LO amend, modify and revise certain provisions of the Masler Deed for tbe purpose of making the sanie conform to the development plans for the Project;
NO\V THEREFORE, for and in consideration of the foregoing slipulations, FBDC hereby makes manifest the Second Amendment to the Master Deed, as follows:
A. Amended Provisions
1) Amendment to the Hecitals of the ]Vlasicr Deed 10 Revise' the Transicr Cc)-tificatcs of Tille Nos. of the Property
The first and second clauses in the recitals 0; loe h1aste, Deed wili: D:!claration of Restrictions of Bonifacio Ridge Project arc amenciecllo read as \ollol'·:s:
"WHEREAS, FBDC is the. absolllle and registered owner of Q..)Jarcel or 1<lT10 located within Fort Bonifacio Giooal City, Taguig, ]v\etrc: )\'\aniia, coverec D': Transfer Certificate of Title No. 375J9 oftb:: Registry ofDf!eQ~ fur tbeProvin::e of Rizal; cODies of the titk and ,Or tile Verified Su~.'e'.' Retun~ 0':' :,11:: SJid io: ar~ herebv attached as .,ulnne:-: ".t.~': and ~-4..nne:,: ':.~-1~: resD~':llvejy:
WHEREAS, FBDC is constructing, developing, eme; estabiishing a condominium project on tbe abovementioneci narcel of land, the exa::t are~ of Wi1icl1 is' -:;.6~:'; s()uare meters, in accordance witb Republic A:[ Nc. ~726, as am:.:noeG, othen\'lS~ known as tile "Condominium Act".
2i Amendment to th~' T>csc)-iptiol1 of Buildings
Sections 1.3(a) and 1.J(b) of t\1-:: Muster D~ed art: hereby amend:;c; 10 reae a, follows:
"(0) Tilt PIZOJECT shall huve \W(, (21 LOwers Wi1i::i; shall '0:.: kllClI..vn ror Iii,::
rurpose of tbis jl-!.aSlef Deed as ('vnr~ss Pnine Towe, and Spanish Fla'! lowe. anci indic:ned in the iocation map attached herCI(, and m~(k arl illlt:~r"i p:.:rt hereof <.1:-.
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