أفاق القانون

contract for a Residential UnitٍSale

On   / 1 / 2007 an agreement has taken place between the following:

First : Mr. Andrew Harris, British citizen, carrying passport No.029698661 - issued by United Kingdom authority, dated  24/ 12 / 1997, In his capacity as general manager of First leisure company located at                                                – ….– Algona - Hurghada – Red See – Egypt. 

{hereinafter referred to as " First party "}

Second:

Mr.                        ,          citizen, carrying passport No.                    - issued by       

     authority, dated    /    /             located at                                                – …….–                          .     

{ hereinafter referred to as "Second Party" {

Preamble

Whereas the first party owns an area of land,     (4000 square meters)     located at Hurghada, new tourist center, Whereas, the first party extracted the constriction building no. 5 /2002  to build  Ground floor and four floors  .Whereas he has the full legal authority to sell this land and whereas the second party desire to buy one of the units mentioned above which owned by the first party, this unit is an apartment in the                  floor no.       , which its area is            square meters, and specified according to the area determination list during the registration process. Whereas the two parties declare that they are legally entitled to conclude this contract and they have the full legal capacity, they concluded the contract according to the following provisions:- 

Article One : Preamble:

The above preamble is considered an integral part of this contract and is complementary thereof.

Article Two: object of the contract:

According to this contract, the first party sells, disclaims and drops with all legal rights to the second party who accepted the following:

An apartment in the            floor, its area is                

       square meters with its equal area in the land in a percentage of     carats and  its area is 4000                                

 Square meters, located at Hurghada ( New tourist sinter  ) with all its common parts mentioned and determinate  in the area determination list.

Article Three : Price :

1-                  The two parties agreed that the price of the sell is               L.E (only                Egyptian Pounds), it was paid        , and the first party's signature in this contract considered as final acquittal and receipt for receiving the sell price.

2-                  The two parties agreed that the second party should pay            an amount of                                         L.E to the first party, as a deposit in order to pay the expenses of maintenance, electricity and cleanness of the building.

Article Four: Examination:

 The second party declares that he examined the apartment legally, completely and he accepted to buy it in its actual case, it was build in tiles, the second party could not change the surface of the building or use the apartment in a purpose other than living.

The soled apartment is not finished (tiles, cement, and divided from inside) it connected with the main external water network, sewer, and electricity.   

Article Five: Real Estate right:

The first party declares that the apartment is free from all real and personal legal rights as mortgaging, easement, specialization right and he did not take any legal action on it before and there is no third party has any legal right over it. The first party declares that he has a complete and quiet possession over the said apartment; he declares that he transfers this possession to the second party and he guarantees that from the date of delivering the apartment.

The first party declares that he owns the roof of the building, and the second party has no legal right over it; and it does not make a part of the common parts for the apartment, the first party has the full legal right to build other floors without any interference from the second party; in case the second party breaches this condition; the contract is considered under the Revocation condition mentioned  in this contract.

Article Six: Ownership:

The first party declares that the ownership of the sold apartment transferred to him through purchase from the Red Sea governorate pursuant to the sale contract dated 12 /  7 / 1993.   

Article Seven: Ownership documents:

The first party declares that he shall show all ownership documents of the apartment to the second party to enable the second party to take the necessary procedures within the Real Estate Office.

Article Eight: Expenses:

The two parties agreed that the second party should pay all costs and expenses for a contract that is $1000 US. The second party declares that all maintenance expenses for the building and the guardian fees shall paid jointly by the owner and the leased.

Article Nine: Preemption Right:

The two parties agreed that they resign finally their rights of preemption right; the first party has the full legal right to buy any part of the building without noticing the second party, in case the second party breaches this Article, it will be as a breaching for whole the contract.

Article Ten :Revocation of contract:

The two parties agreed explicitly that in case of breaching of any Article of this contract, the contract will be revoked automatically without any notification, announcement, or legal judgment; the injured party has the right to be compensated without any prejudice to the penalty convention condition.

Article Eleven : Legal Competence:

Both parties agreed that all disputes arise in relation to the execution or interpretation of the contract shall be subject to the legal competence of Hurghada Court. In case of contradiction between the Arabic and the English version, the Arabic version shall prevail.

Article Twelve :Correspondences:

Both parties agreed that all exchanging notices between them shall be obligatory and productive to all its legal effects, in case it were sent to the addresses mentioned in the beginning of the contract. In case of any party changes his addresses; it shall be obliged to notify the other party of such change within one week of the change by a registered reception letter otherwise all notices sent on his old to him will be legally effective.

Article Thirteen :Copies of Contract:

This contract was written in two originals, both of them are written in both Arabic and English languages. Therefore, each version has the same force and effect. In case of contradiction between the Arabic and the English version, the Arabic version shall prevail.

First Party                                    Second Party