The Amenities Agreement For Home Loan is a crucial document in Philippine residential property transactions where the property includes shared facilities or common areas. This agreement is typically executed alongside a home loan agreement and details the terms of access, use, and maintenance of various amenities provided within the residential development. It becomes necessary when a property purchaser finances their home through a loan and the property is part of a development with shared facilities such as swimming pools, gymnasiums, function rooms, or other common areas. The agreement ensures compliance with Philippine property laws, particularly Presidential Decree No. 957 and local housing regulations, while protecting the interests of both the property developer and the resident. It establishes clear guidelines for amenities usage, maintenance responsibilities, and associated costs, helping prevent future disputes and ensuring proper facility management.
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1. Parties: Identifies the parties to the agreement - typically the property developer/management and the home loan borrower
2. Background: Establishes the context of the agreement, referencing the home loan and property purchase
3. Definitions: Defines key terms used throughout the agreement, including 'Amenities', 'Common Areas', 'Maintenance Fees', etc.
4. Amenities Description: Detailed description of all amenities covered under the agreement
5. Access Rights: Terms and conditions for accessing and using the amenities
6. Fees and Charges: Details of all fees related to amenities usage and maintenance
7. Maintenance and Upkeep: Responsibilities for maintaining the amenities and common areas
8. Rules and Regulations: Specific rules governing the use of amenities
9. Term and Termination: Duration of the agreement and conditions for termination
10. Default and Remedies: Consequences of default and available remedies
11. General Provisions: Standard contractual provisions including notices, amendments, and governing law
1. Insurance: Required when specific insurance coverage for amenities usage is necessary
2. Security Deposit: Include when a security deposit is required for amenities access
3. Special Access Provisions: Used when certain amenities have restricted access or special usage conditions
4. Guest Privileges: Include when the agreement allows for guest access to amenities
5. Transfer Rights: Required when amenities rights can be transferred to subsequent property owners
6. Renovation and Improvement: Include when there are provisions for future improvements or modifications to amenities
1. Schedule A - List of Amenities: Detailed inventory and description of all included amenities
2. Schedule B - Fee Schedule: Comprehensive list of all fees and charges related to amenities
3. Schedule C - Operating Hours: Schedule of operating hours for different amenities
4. Schedule D - Maintenance Schedule: Regular maintenance schedule for amenities
5. Schedule E - Rules and Regulations: Detailed rules for each specific amenity
6. Appendix 1 - Floor Plans: Layout plans showing location of amenities
7. Appendix 2 - Contact Information: List of important contacts for amenities management
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Banking and Finance
Property Management
Construction
Residential Housing
Facilities Management
Relevant Teams
Legal
Property Management
Mortgage Services
Real Estate Development
Facilities Management
Customer Relations
Sales
Compliance
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Loan Officer
Real Estate Developer
Facilities Manager
Contract Administrator
Legal Counsel
Mortgage Specialist
Property Development Director
Customer Service Manager
Sales Manager
Compliance Officer
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