Auction Item special conditions
SPECIAL AUCTION CONDITIONS
Mary’s Boon Hotel
1. This auction concerns a foreclosure which implies that Seller’s liability will not extend 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 delivery. 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 (if applicable) ground rent.
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, for a total amount of the bid increased with the taxes and costs mentioned before.
7. About half of all the units in Mary’s Boon Hotel are subject to time‑share rights. About one hundred fourteen weeks are sold according to the Managing Director of the hotel.
The aforementioned deed of mortgage stipulates that renting out the property requires written permission of the Creditor.
Creditor leaves it to Buyer to invoke the annulment of any rental agreements concerning the property, if necessary and if possible.
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 buildings of Mary’s Boon Hotel encroach on three places on the public beach. For that reason the central facilities building was not included in the division into apartment rights since it encroaches for about fifty percent of its footprint on the beach, a situation the government of Sint Maarten does not permit. The other two encroachments are much smaller.
9. The Buyer (highest bidder) is under the obligation to comply with the conditions, stated in preceding title deeds which in as far as they still may have any effect, are deemed together with the penalties mentioned thereby 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 aforementioned deed of issuance in long lease and transfer of ownership in which Mortgagor acquired said immovable property SXM SB 61/1989, in which is stated:
I. a. the right of long lease is granted until April eight, two thousand and thirty, commencing at the transcription of the deed of issuance on long lease in the appropriate public registers;
b. aforementioned groundrent is fixed at Two Guilders, Netherlands Antillean Currency (NAFls. 2.00) per square meter per year and can be revised by decree of the Executive Council after expiration of a period of ten years after the execution of the deed of issuance on longlease;
c. the Leaseholder has the obligation to pay the fixed annual groundrent in advance at the office of the Receiver of the Island
Territory, for the first time before or on the day on which this instrument is executed and each year thereafter after a notice for payment has been sent by same Receiver;
d. the land issued on long lease may not be used prior to the transcription of the deed of issuance of longlease in the appropriate public registers;
j. without prior written approval of the Executive Council the leaseholder is not allowed to transfer the right of longlease to a third party;
k. regardless of the stipulation under j, in order to avoid speculation with the land at the selling and transferring of the long lease right granted herewith, in no event a charge for the value of the land may be made; in case of violation the Executive Council has the right to claim the amount involved of the Leaseholder;
1. the condition sub k. shall not be applicable in the event of a sale of the long lease right and structures in the event of foreclosuring arising from a mortgage right or bankruptcy;
m. the right of long lease may not be sub-leased, neither in whole nor in part;
o. the granting of the right of longlease is furthermore effected subject to the general conditions for the issuance on longlease of land, belonging to the Island Territory of the Windward Islands, stipulated in the "Eilandsverordening op de uitgifte in erfpacht van gronden toebehorende aan het Eilandgebied de Bovenwindse Eilanden", as specified in Island Ordinance A.B. 1954, No. 1.
The appearers furthermore declared to make reference to the aforementioned decree of the Executive Council, of July twenty-third, nineteenhundred and ninety-eight, number 1103, in which dispensation is given from the obligation to subdivide as meant in article 22 of the Island Zoning Ordinance (A.B. 1993, number 13), under a through j.”
“The appearers furthermore also declared to refer to section III of aforementioned decree, in which the conditions of section II are also made applicable to the parcel of land described in Certificate of Admeasurement 264 of nineteenhundred and sixty-nine (264/1969), which was issued on long lease to leaseholder by deed of March eighteenth, nineteenhundred and seventy, passed before J.G.M. Speetjens, aforementioned civil law notary, transcribed in Register C, volume 30, number 33.”
Reference is also made to the aforementioned deed of issuance in long lease in which Mortgagor acquired said immovable property SXM SB 264/1969, in which is stated:
A. a. The long lease is granted for the period of sixty (60) years as from the moment this leasehold deed will be transcribed in the Public Registers destined for said purpose;
b. The lessee is obliged to pay an annual ground-rent of EIGHTY GUILDERS AND TEN CENTS (NAfls.80,10) to be paid in advance at the office of the Treasurer in Sint Maarten, for the first time before or on the day on which the notarial deed will be executed and thereafter each year upon presentation of the notice from said treasurer to pay;
c. Without prior consent of the Executive Council the land on long lease may not be used for any other purpose than for constructing a concrete dwelling house.
d. Should the lessee decide not to use the land on long lease herself for the abovementioned purpose, no transfer
of the land to a third party is allowed without previous consent of the Executive Council;
B. On the general conditions relating to the issue of land on long lease belonging to the Island Territory of the Windward Islands, as specified in the Island Ordinance AB-1-1954, which conditions are duly transcribed in the abovementioned Public Registers in Register C, Volume 24 number 34.
And reference is made to the regulations, restrictions or requirements as described and laid down in said Deed of Division into rights of apartment, including the conditions about the Association of Owners Mary’s Boon Simpson Bay, which regulations are deemed to be an integral part of this deed.
