General Auction Conditions

NOTARY OFFICE SXM
Faride Tjon Ajong
Civil Law Notary

Head Office Philipsburg
(+1-721) 542-2339

email: general@notarysxm.com

St.Maarten
Dutch Caribbean

Auction Item special conditions

Special conditions of auction Land at Oysterpond            
The auction will also take place under the following special ­             
conditions:        
1.       This auction will take place at the Holland House Beach Hotel at Frontstreet, Philipsburg, Sint Maarten, in one session, and concerns a foreclosure which implies that Seller’s liability will not­extend beyond liability resulting from article 7:19 paragraph 1 of the Civil Code, which article reads as follows:    
          "On an execution sale, the buyer may not claim that the property is subject to a charge or encumbrance, which should not have encumbered it, or that the property does not conform to the contract, unless the seller was aware of this."   
2.       Said immovable property shall be for Buyer's risk as of the adjudication.  
3.       Said immovable property shall be delivered in the actual condition­ it is in at the moment of the adjudication. If said immovable property is destroyed or damaged in whole or in part,­ or devaluates in any other way after the adjudication, this cannot­ be
invoked against Seller, irrespective of the cause.
4.       Within two (2) business days after the adjudication buyer shall deposit with the civil law notary:
a.    an amount equaling the transfer tax due upon transfer;         
b.    the fee of the civil law notary;              
c.    the Land Registry fee and the cost of Land Registry investigation;              
d.    the cost of cancellation of the registrations of mortgages and attachments;    
e.    the costs of advertising, process server, posters, appraisal, auctioneer's fee, and rent of the auction room;             
f.    the cost of revenue stamps and disbursements;
g.    the outstanding property charges, including property tax, if any, and the outstanding ground rent for the last five years, if any;
h.    ten percent (10%) of the purchase price.           
5.       Within six (6) weeks after the adjudication buyer shall deposit the purchase price with the civil law notary.
6.       A bidder and Buyer are obligated to immediately and at first request of the civil law notary submit proof of their solvency by means of a letter of guarantee (as defined in the General Conditions of Auction), for a total amount of the bid increased with the taxes and costs mentioned before.    
7.       The property will be delivered in its rented condition. The Buyer shall, at Buyer’s own risk and expense, procure the free possession­ and enjoyment of the purchased property. Seller does not vouch for Buyer's power to vacate.  
8.       The Buyer (highest bidder) is under the obligation to comply with the leasehold conditions, stated in preceding title deed, which in as­ far as they still may have any effect, are deemed to be imposed by the Seller (Creditor) to the Buyer (highest bidder) and to be       accepted by the latter, to be stipulated and accepted on behalf of    those beneficiaries as and in the manner as mentioned in these conditions. Said conditions and penalties are, in so far as required,­ deemed to be incorporated literally in this deed and to form an integral part thereof.         
In connection to known easements and other specific obligations, reference is made to the deed of transfer of ownership in which the Mortgagor acquired said immovable properties, in which reference has been made to the following:
"8. The subject premises shall be subject to the Declaration or Reservations and Restrictive Covenants as recorded at the office of the Land Registry on July seventeenth, nineteenhundred and eighty-seven in Register C, volume 80, number 38, a copy of which Declaration the appearer sub 2 declared the Buyer to have received, to know and accept the contents thereof and to completely submit himself thereto.
9. The parties undertake to cause the above covenants and restrictions to appear in the deeds of (″further transfer″) and to be binding upon all their assigns, successors and personal representatives."
″Whereby it is understood that the parcel of land transferred by these presents shall be used as an extension of the parcel of land, described in Certificate of Admeasurement number 186 of nineteen hundred and eighty-seven (186/1987)″;
″With regards to existing easements burdening the herewith transferred property and for the benefit of the parcel of land of Certificate of Admeasurement number 92 of nineteen hundred and sixty-eight, reference is herewith made to a title deed, executed on May twentieth nineteen hundred and seventy, a true copy of which deed was transcribed at the office of the Registrar of Mortgages on Sint Maarten on June thirtieth, nineteen hundred and seventy in Register C, Volume 39, number 109, the relevant part of which deed reads as follows: ″an easement (erfdienstbaarheid)is herewith established for the benefit of the plot of land sold under this agreement as dominant property and against the land now owner by seller and situated at Oysterpond, known as the division plan ″Dawn Beach Club″ but only with respect to that part thereof situated between the dominant property and the inland water of Oyster Pond as servient property containing this easement the prohibition to erect any building or other obstructions of a permanent nature on the servient property.
Furthermore an easement is established for the benefit of the plot of land sold under this agreement as dominant property and against the land as described herein before now owned by seller and sitated at Oyster Pond, as servient property, containing a right of way (recht van weg) for purposes of egress and ingress to and from the dominant property to the beach of said inland water of Oyster Pond in a way which is least burdening for the servient property as well as the right to use the servient property for the normal purpose for which a beach would be used.″

 

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