Forbes Park 380K/sqm vacant lot for bidding

Nos. 8 and 10, Cambridge Circle, Forbes Park, North, Makati City

Lot area (sqm) : 3,650 (aggregate area)
Bid price :P 1,387,000,000.00 (P380K/sq.m)

TCT nos. 006-2010000185 and 006-2010000186

Deadline of Submission of Bid: 10:00 am of April 13, 2023
Opening of Bid : 2 PM of April 13, 2023
Announcement of Winner: April 14,2023

Conditions:
10% Option Money (OM)of bid amount via Manager’s Check / Cashier’s Check

Note:

• OM of Winning Bidder shall be deposited and applied as down payment to the
Property

• OM of non-winning bidder shall not be deposited and returned without interest.

• If for whatever reason, the Winning Bidder fails to comply with the terms and
condition stated herein or backs out from the transaction, OM of Winning Bidder shall be forfeited in favor of the Bank.

• Buyer is aware and accepts the following:

➢ Traverse does not close for Lot 4, Block 9 (No. 8)
➢ Property is subject to limitations / restrictions set forth by Forbes Park
Association

• Cash (only Manager’s Check acceptable)
• Bid offer shall be for both lots.
• Sale is on an “as is where is and no recourse” basis
• Winning bidder is still subject to background investigation, court case checking
and credit investigation. Should there be any adverse findings, the Bank has the option not to award the Property to the Winning Bidder. The Bank will refund option money paid without interest or cost of money.

• The Bank reserves the right to accept or reject any bid, annul the bidding process, or reject all bids at any time prior to award, without incurring any liability to the affected bidder or bidders

• Should the Bank discover that several offers were submitted by the same company or group, the Bank shall only honor the highest bid of the said company or group and shall disqualify the other bids received.

• Note: For DOSRI transactions, consummation of sale shall be made upon approval of Bank’s Related Party Transaction Committee and Board of Directors.


Acceptable Payment Terms:

• Cash (only Manager’s Check acceptable)
Note: All payments made shall be considered as option money and applied as payment on the Property as and when the Deed of Sale is executed.

Subject to restrictions set forth by Forbes Park Association