Click here to download a PDF version of the document
|
THIS PRIVATE CONTRACT OF PROMISE OF TRUST CONSTITUTION IS ENTERED INTO ON THIS DATE BY AND BETWEEN “INMOBILIARIA LAPARMEX”, CORPORATION OF VARIABLE CAPITAL, REPRESENTED BY MR. MANUEL DE JESUS GARCIA JURADO ACOSTA, AS “PROMISOR TRUSTOR” AND _________________________________________ OF HIS/HER OWN PERSONAL RIGHT, HEREAFTER REFERRED TO AS “PROMISEE BENEFICIARY”, IN REGARD TO THE “PUERTA DEL MAR” CONDOMINIUM UNITS LOCATED AT THE CONTINENTAL ZONE OF ISLA MUJERES, STATE OF QUINTANA ROO HEREAFTER REFERRED TO JOINTLY AS “THE PROPERTY”; THE PARTIES AGREEING TO AND BEING BOUND BY THE FOLLOWING RECITALS AND CLAUSES.
RECITALS
- - I. - “PROMISOR TRUSTOR", states through Mr. MANUEL DE JESUS GARCIA JURADO ACOSTA, and under oath to tell the truth, as follows:
FIRST.- That his principal is a Mexican entity, duly incorporated according to the laws of the Republic of Mexico, as he proves with a copy of Public Deed Number 25373 (twenty five thousand three hundred and seventy-three), volume one hundred and fourteenth letter “C”, dated December seventeen of two thousand four, granted by the Lawyer, Mr. Benjamin Salvador de la Pena Mora, Head of the Notary Public Office Number twenty of the State of Quintana Roo, which is recorded with business number 11991 2 (eleven thousand nine hundred and ninety-one) at the Public Hall of Records in the City of Cancun, State of Quintana Roo.
--That Mr. MANUEL DE JESUS GARCIA JURADO ACOSTA, proves his personality as attorney-in-fact for the business corporation “INMOBILIARIA LAPARMEX”, CORPORATION OF VARIABLE CAPITAL, with the copy of public deed number three thousand one hundred and forty-five, dated February twenty-two of the year two thousand five, granted by the Lawyer, Mr. Juan Abundio Martinez Martinez, Head of the Notary Public Office Number thirty-four of the State, the same which is recorded under the electronic business folio number 11991 2 (eleven thousand nine hundred and ninety-one two), at the Public Hall of Records of the State of Quintana Roo, Cancun Branch.
SECOND.- THE ORIGINAL PROPERTY.-
--To be the lawful owner of the ownership rights, in full command and possession, of the real properties described next:
--I.-LOT OF LAND LOCATED TO THE SOUTH OF THE TOWNSHIP OF ISLA MUJERES TO WHICH DELEGATION BELONGS THE TERRITORY OF QUINTANA ROO, WITH AN APPROXIMATE AREA OF 1990 M², LIMITED WITHIN THE PERIMETER DESCRIBED NEXT: STARTING FROM THE VERTEX OF THE SOUTH ANGLE OF THE LAND LOCATED FOLLOWING THE ASTRONOMICAL DIRECTION SOUTH, 48° 30 MINUTES EAST, AT A DISTANCE OF 450 M 55 CM FROM THE WESTERN BOUNDARY OF THE MAKAX UNDEVELOPED LAND FROM WHICH THE TRACT OF LAND DESCRIBED HEREIN WAS SEPARATED AND CONTINUING WITH ASTRONOMICAL DIRECTION NORTH 41° 30 MINUTES EAST AND BOUNDING TO THE SOUTHEAST WITH THE LOT SOLD TO CABALAN MACARI CASTILLA WITH A LENGTH OF 99 M; FROM THIS POINT TOWARD THE NORTHEAST, BOUNDING TO THE NORTHWEST WITH THE FEDERAL BEACH AREA AND THE MAKAX LAGOON, FOLLOWING AN ASTRONOMICAL DIRECTION NORTH 55° 30 MINUTES WEST WITH A LENGTH OF 20 M; FROM THIS POINT TO THE SOUTHWEST BOUNDING TO THE NORTHEAST WITH THE LOT SOLD TO MR. JORGE AND FOLLOWING AN ASTRONOMICAL DIRECTION SOUTH 41° AND 30 MINUTES WEST MEASURES 100 M; AND FROM THIS POINT TO THE SOUTHEAST, UNTIL REACHING THE STARTING POINT AND CLOSING THE PERIMETER BOUNDING TO THE SOUTHWEST WITH THE FEDERAL BEACH AREA AND THE CARIBBEAN SEA, FOLLOWING AN ASTRONOMICAL DIRECTION SOUTH, 58° 30 MINUTES EAST, MEASURES 20 M".
-- THAT JUST AS OBSERVED IN THE CADASTRE CERTIFICATE DATED MAY 24 OF THE YEAR 2004, ISSUED BY THE OFFICE OF THE CADASTRE OF THE CITY HALL OF ISLA MUJERES, QUINTANA ROO; THE PROPERTY DESCRIBED IN THE FOREGOING PARAGRAPH, IS IDENTIFIED AT THE CADASTRE CURRENTLY AS: LOT 008, BLOCK 072, CLUSTER 007, WITH AN AREA OF 1990 SQUARE METERS, WITH THE FOLLOWING DIMENSIONS AND BOUNDARIES: TO THE NORTH, 100 M WITH LOT 09; TO THE SOUTH, 99 M WITH LOT 07; TO THE EAST, 20 M WITH THE SAC-BAJO ROAD; TO THE WEST, 20 M WITH THE FEDERAL BEACH AREA OF THE CARIBBEAN SEA; WITH CADASTRE CODE 701100707200800000 (SEVEN ZERO ONE ONE ZERO ZERO SEVEN ZERO SEVEN TWO ZERO ZERO EIGHT ZERO ZERO ZERO ZERO ZERO).
- - II.- LOT OF LAND LOCATED TO THE SOUTH OF THE TOWNSHIP OF ISLA MUJERES TO WHICH DELEGATION BELONGS THE TERRITORY OF QUINTANA ROO, WITH AN APPROXIMATE AREA OF 1920 M², LIMITED WITHIN THE PERIMETER DESCRIBED NEXT: STARTING FROM THE VERTEX OF THE SOUTHWEST ANGLE OF THE LAND LOCATED AT A DISTANCE OF 430 M 55 CM FOLLOWING THE ASTRONOMICAL DIRECTION SOUTH, 48° 30 MINUTES EAST, AT A DISTANCE OF 430 M 55 CM WITH ASTRONOMICAL DIRECTION SOUTH, 48°, 30 MINUTES EAST AND IN THE NORTHWEST DIRECTION, BOUNDING TO THE SOUTHEAST WITH A LOT SOLD TO MR. ANICETO MACARI CANAN AND FOLLOWING AN ASTRONOMICAL DIRECTION NORTH, 41° 30 MINUTES EAST, A LENGTH OF 93 M; FROM THIS POINT TO THE NORTHWEST, BOUNDING TO THE NORTHEAST WITH THE FEDERAL BEACH AREA AND WITH THE MAKAX LAGOON, FOLLOWING AN ASTRONOMICAL DIRECTION OF 41° ZERO MINUTES WEST, MEASURES 20 M; FROM THIS POINT TO THE SOUTHEAST BONDING WITH THE LOT SOLD TO MRS. MARIA ELENA MACARI DE JORGE AND FOLLOWING AN ASTRONOMICAL DIRECTION SOUTH 41° AND 30 MINUTES WEST, MEASURES 99 M; AND FROM THIS POINT TO THE SOUTHEAST, BOUNDING WITH THE FEDERAL BEACH AREA IN THE CARIBBEAN SEA FOLLOWING A SOUTHERN DIRECTION 58° 15 MINUTES EAST UNTIL REACHING THE STARTING POINT AND CLOSING THE PERIMETER, MEASURES 20 M".
-- THAT JUST AS OBSERVED IN THE CADASTRE CERTIFICATE DATED APRIL 6 OF THE YEAR 2004, ISSUED BY THE OFFICE OF THE CADASTRE OF THE CITY HALL OF ISLA MUJERES, QUINTANA ROO; THE PROPERTY DESCRIBED IN THE FOREGOING PARAGRAPH, IS IDENTIFIED AT THE CADASTRE CURRENTLY AS: LOT SEVEN, BLOCK SEVENTY-TWO, CLUSTER SEVEN, WITH AN AREA OF 1920 SQUARE METERS, WITH THE FOLLOWING DIMENSIONS AND BOUNDARIES: TO THE NORTH, 99 M WITH A LOT 08; TO THE SOUTH, 93 M WITH LOT 06; TO THE EAST, 20 M WITH THE MAKAX LAGOON; TO THE WEST, 20 M WITH THE FEDERAL BEACH AREA OF THE CARIBBEAN SEA; WITH CADASTRE CODE 701100707200700000 (SEVEN ZERO ONE ONE ZERO ZERO SEVEN ZERO SEVEN TWO ZERO ZERO SEVEN ZERO ZERO ZERO ZERO ZERO).
That the Merger of the aforementioned tracts of land resulted in a single lot as proven with copy of Public Deed Number one thousand six hundred and sixty-one dated March six of two thousand six, granted by the Lawyer, Mr. Salim Garrido Hadad, Acting Notary Public at the Notary Public Office Number Twenty-eight, in he City of Cancun, State of Quintana Roo, the same which, due to is recent granting, is pending its recording at the Public Hall of Records.
THIRD.- THE SUBJECT OF THIS CONTRACT.- Which shall consist of the “Puerta del Mar” condominium units, which location, dimensions and boundaries are transcribed next:
DESCRIPCIÓN DEL INMUEBLE
That the said “PROPERTY” is subject to the Condominium Form of Ownership, before the Lawyer, Mr. Salim Garrido Hadad, acting Notary Public Number Twenty-right of the State, the same which, given its recent granting is still pending record at the Public hall of Records in the city of Cancun, State of Quintana Roo.
The same which will be referred to jointly hereafter as “THE PROPERTY”
2- “PROMISEE BENEFICIARY” states under oath to tell the truth, as follows:
a) “PROMISEE BENEFICIARY" states to be a national of __________________________________________________ to be _____ years-old and to have the juridical capacity to enter into contracts and that it is his/her wish to be bound in the terms hereunder.
b) To know the condominiums and the construction of same, as well as the drawings and the finishes of “THE PROPERTY”.
c) That he/she has requested “PROMISOR TRUSTOR” to execute this contract, with the purpose of promising to buy the rights of usage of, enjoyment and profit from the “PROPERTY”, through the Constitution of a Trust contract and that the Beneficiary designation be made in his/her favor, or following instructions from the latter, so the Trust may be executed in favor of a third party.
Both parties jointly agree to the above statements made by he parties, and they agree to subject themselves to the Following:
CLAUSES:
FIRST. SUBJECT OF THE CONTRACT.- "PROMISOR TRUSTOR" and “PROMISEE BENEFICIARY” hereby promise to constitute an irrevocable trust with transfer of ownership and management, wherein they will cover and convey "ad corpus", in favor of THE FIDUCIARY, the ownership of the “PROPERTY” described and with the dimensions indicated in Preliminary Third hereof.
SECOND.- PARTIES TO THE TRUST.- The following will be parties to the Trust.
TRUSTOR: “INMOBILIARIA LAPARMEX”, CORP. OF VARIABLE
CAPITAL. represented by Mr. MANUEL DE JESUS GARCIA JURADO ACOSTA.
FIDUCIARY: (THE BANK ELECTED FOR THE CASE).
BENEFICIARY: _______________________________________________________
THIRD.-PURPOSE OF THE TRUST.- The goal of this trust consists in that the “FIDUCIARY” keep ownership of the property subject of the trust and grant the use and temporary benefit of the same to the “BENEFICIARY” or to whoever the latter appoints, pursuant to the conditions established in the permit to be requested before the Secretariat of Foreign Affairs.
In order to comply with the goals of the trust:
- -1.- The “FIDUCIARY” will deliver the PROMISEE BENEFICIARY or the person the latter appoints, the possession of the property in trust, with its revenues and appurtenances allowing him to use it and profit from it temporarily, for residential purposes, without granting him any real right.
- - 2.- During the term of the trust, THE “PROMISEE BENEFICIARY” may request the “FIDUCIARY” to take any of the juridical actions mentioned next:
- - a) The execution of contracts and juridical actions required, so long as these do not contravene the provisions in the trust, being able even to lease the property for terms no longer than ten years.
- - b) Burdening of same to guarantee obligations acquired by “PROMISEE BENEFICIARY”.
- - In the deed were the guarantee is described, it must be proven that the “FIDUCIARY” acquires no payment obligation and that it is not obliged with its own property in any way and that it simply appears at the request of the “PROMISEE BENEFICIARY”.
FOURTH.-CONSIDERATION AND FORM OF PAYMENT.- “PROMISOR TRUSTOR” will be entitled to receive in consideration for the promised constitution of the Trust over “THE PROPERTY”, the amount of $ ________________________ an amount that "“PROMISEE BENEFICIARY”" agrees and is bound hereby to pay as follows:
a) A down payment upon execution of this instrument, in the amount of $ _____________________ , corresponding to the 5% down payment (five percent), of the total value of the consideration, in good currency, counted and checked to full satisfaction and with no right to later claims whatsoever; this instrument being the best possible receipt available under the law, in favor of “PROMISOR TRUSTOR”
b) A second payment forty-five (45) days after the date the down payment was made, in the amount of $ _______________ , corresponding to 20% (twenty percent) of the total value of the consideration, in good currency counted and checked to full satisfaction and with no right to later claims whatsoever in favor of “PROMISOR TRUSTOR”.
c) A third payment at the time of proving termination of building structure of the apartment, in the amount of $ ______________________, which corresponds to 40% (forty percent), of the total value of the consideration, in good currency counted and checked to full satisfaction and with no right to later claims whatsoever, in favor of “PROMISOR TRUSTOR”.
d) The balance, that is, the amount of $ __________________________, corresponding to 35% (thirty-five percent), of the total value of the consideration, in favor of “PROMISOR TRUSTOR” upon delivery of the apartment, subject of this contract.
Should the property fail to meet the necessary conditions to constitute the aforementioned Irrevocable Trust with Transfer of Ownership, payment of the amount stated in Clause Fourth of item a), shall be refunded to “PROMISEE BENEFICIARY”.
FIFTH.-"“PROMISEE BENEFICIARY”" may not assign wholly or partly, the rights and obligations corresponding him/her in the terms of this contract, without the previous written authorization from "“PROMISOR TRUSTOR”", lest the said promise be voided.
SIXTH.-CONVENTIONAL PENALTY.-Failure by any of the parties to perform in any of their obligations derived from this contract, shall give the other party the right to file for its early rescission with all its legal consequence. In such case, the guilty or negligent party will have to pay the other party, as a conventional penalty, the equivalent of 25% of the consideration agreed hereunder.
SEVENTH.-TERM.-The deadline to formalize the definitive public deed of the Trust subject of this contract, shall be ninety working days from the date of execution of this contract.
EIGHTH.- FORMALIZATION OF THIS TRUST’S CONSTITUTION.- Once “PROMISEE BENEFICIARY” has made total payment of the consideration stipulated in clause fourth hereunder, then “PROMISSOR TRUSTOR” agrees to subscribe the public deed whereby Constitution of the Trust is formalized. Constitution of the Irrevocable trust with Transfer of Ownership and the possession regarding the “PROPERTY”, appointing “PROMISEE BENEFICIARY” as the Beneficiary, or the person the latter designates, whether a person or an entity.
NINTH.-EXPENSES: All expenses, taxes, dues and fees arising from this contract, and those arising due to this contract and those due as a consequence of the formalization and execution of the definitive deed of trust constitution, as well as those derived from commissions, applications and fiducial fees shall be borne by the “PROMISEE BENEFICIARY”, with the exception of Income Tax, that shall always be borne by the future “PROMISOR TRUSTOR”
TENTH.- JURISDICTION.- For the interpretation, controversy solution, execution and performance of the clauses hereunder and of any controversies that might derive from same, the parties expressly agree to be bound to the jurisdiction and competence of the Judges and Courts of the city of Cancun, Quintana Roo, waiving any other venue which, by reason of their current or future address or place of residence, might correspond them.
If any of the parties changes address, it must notify so in writing and unmistakably to the other party, ten calendar days prior to the change, failure to do so means all notices services at the last indicated address shall have all its legal effects.
TWELFTH.- SCOPE OF THE CONTRACT.- This contract contains only the agreements stipulated by the parties and these expressly state that in this granting there is no deceit, lesion or vice of the will or the consent whatsoever, so that they hereby expressly waive the exercise of any action or exception derived from same. Likewise, and given that this contract contains their free and spontaneous will.
THIRTEENTH.- Messrs. ________________________________________________ and ________________________________, appear to the execution of this contract, in order to witness this operation, stating that it is the faithful reflection of the will of the Parties hereto.
PERSONALITY
Mr. MANUEL DE JESUS GARCIA JURADO ACOSTA, under oath to tell the truth, states that its principal has full capacity to be bound and enter into contracts and proves his representation power, which he states that has not been revoked or restricted in any way, with the copy of public deed number 3145 dated February 22 of the year 2005, granted by the Lawyer, Mr. Juan Abundio Martinez Martinez, Head of the Notary Public Office number 34 of the state, the same which is recorded under the electronic corporations page number 11991 2 (eleven thousand nine hundred and ninety-nine, two) at the Public Hall of Records of the State of Quintana Roo, Cancun Branch.
GENERAL
- - The parties hereto, under oath to tell the truth, state the following to be their vital data:
- - I.-Mr. MANUEL DE JESUS GARCIA JURADO ACOSTA, stated to be a Mexican national, born in Veracruz, Veracruz, on May 9 of 1952, married, a civil engineer and with address at 36 Toronja Street apartment 501, cluster 2 “A”, in The City of Cancun, Municipality of Benito Juarez, Quintana Roo.
- - II.- Mr. ________________________________, who stated to be a ____________________ national, born in__________________________ on___________ of _________________ of nineteen __________________ , with address at the city of ____________________________________, Quintana Roo.
- - THIS CONTRACT READ, AS IT WAS, IS RATIFIED AND SIGNED BY BOTH PARTIES JOINTLY WITH THE UNDERSIGNED WITNESSES IN THE CITY OF CANCUN, ON THE _______ DAY OF THE MONTH OF ______________ OF THE YEAR TWO THOUSAND AND SIX .
“THE “PROMISOR TRUSTOR””
“INMOBILIARIA LAPARMEX”, S.A. DE C.V.
“THE PROMISEE BENEFICIARY”
WITNESSES
|
