RULES, REGULATIONS AND CONDUCT OF THE PUBLIC AUCTION

To fficiently and effectively implement the public sale of delinquent properties, the following Rules, Regulations and Conditions of the Public Auction is adopted.

I.

WHO MAY PARTICIPATE

real property disqualified by law to acquire a) All Filipino citizenswho arenot otherwise in thePhilippines; and other legal entities duly registeredwith the Securities b) Partnerships, Corporations 60% of the capital of whioh is ownedby Filipino citizens and ExchangeCommission, disqualifiedby law to acquirereal properfyin the Philippines; and not othErwise persoilswith special power of of the above-named c) Duly authorizedrepr.esentatives attorney.

TIIE EMPLOYEES OF PHILIPPINE AND OFFICIALS NOTE: GOWRNMENT, ITS AGENCIES, INSTRUMENTALITIES AND LOCAL SUBDIWSIONS ARE NOT ALLOWED TO PARTICIPATE EITHER DIRECTLY OR INDIRECTLY IN THE PUBLIC AUCTION. il"

CONDITIOW
a) The City Treasurerdoes not warrant the authenticity or validity of the title of the or accuraoy the correctness ofthe description or ownernor doeshe guarantee doclared no that regist:-',.; acquire better title than of the bidders the property.Successful on the title and they will acquirethe propertytogetherwith declaredowner appearing like mortgage,lease and the like, existing at the time of the all its encumbrances purchasein auction. For their own protection,the prospectiveparticipantsmay first and the title of the propertythey may wish to bid the existence for themselves ascertain beforemakingany bid. pay the bid price.Payments shallbe biddersshall,uponaward,immediately b) Successful checkor personal to the City or cashier's checkpayable madein cashor in manageros of Marikina for the exactamountof the bid. Treasurer reserves the right to revokeany or all awards/ saleon the following c) The City Treasurer grounds: o Upon presentation of evidencethat all taxes and penaltiesdue the property paid whenthe salewasmade;or hadbeen o It is found later that the propertyis tax exemptby virtue of its being already governmentowned or dr:votedexclusively for religious, educationalor purposes; charitable o It is not liableunderRA 7160andotherrelatedlaws; o Non-payment of the bid price; . Upon Certification of the Assessor'sOffice that a discrepancyin the description,location and I or issuanceof the Tux Declarationhas lreen reotification of which will affectthe validity of the sale. discovered,

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d) At any time beforethe datefixed for the auctionsale,the owner of the real propertyor by paying the delinquent personhaving legal interesttherein may stay the proceeding ofsale; andthe expenses tax, the interest duethereon e) Within one (l) year from date of sale, the delinquenttaxpayeror his representative shall take effect upon payment the property.Redemption shall havethe right to redeem to the City Treasurerof the total amountof taxes,fees, interest,or penalties,cost of sale, and other related charges,from date of delinquencyto the date of sale, plus priceto dateof redemption. Such per monthon the purchase interest of two (2) percent and shallentitle payment of Saleissued to the purchaser the Certificate shallinvalidate from the City Treasurer; the ownerto a Certificateof Redemption of the certificateof salepreviously The City Treasurer or his deputy,upon surrender price to the winning bidder,shall forthwith retum to the latterthe entirepurchase issued per monthcomputed from the dateof sale paid by him plus interest of fwo (2) percent to the dateof redemption; s) From the date of saleuntil the expirationof the period of redemption,the delinquent of the owner or personhaving legal real propertyshall remainin the actualpossession interestthereinwho shall be entitledto the rentals,incomeand other fruits thereof; h) In casethe taxpayerfails to redeemthe propertyas hereinprovided,the City Treasurer said property,free from the liens shall executea final deedconveyingto the purchaser of sale.The deedshall briefly of the delinquenttar, interestdue thereonand expenses uponwhich the validity of the salerests.However,in the matterof statethe proceeding property regishation,the Registry of Deedsis governedby the Properly Registration Authority, whereinthe period of redemptionbeginsto Decreeof the Land Registration run from the dateof inscriptionof the Certificateof Sale; i) In casethere is no bidder for the real property,or the highestbid is for an amount or penalties, cost of saleand otherrelated insufficientto pay the taxes,fees,interests, purchase the sale shall the propertyin behalfof Treasurer conducting the Cify charges, (2) shallmake daysthereafter to satisff the claim andwithin two the City Government uponthe records of his office. which shallbe reflected a reportof his proceedings i) Within one (l) year from the date of such forfeiture,the taxpayeror any of his may redeem the property by paying to the City Treasurerthe full representative, If the cost of saleand other relatedcharges. amountof taxes,fees,interestor penalties, herein, the ownership propertyis not redeemed as provided thereofshallbe fully vested in the City Government; his Certificate of Saleshall incurred by the winningbidderin annotating k) Any expenses part redemption not form of the cost; will and be for his acoount r) Withdrawal of bid price by the winning bidder for propertiesredeemedby the owner from the City Governmentshall be releasedwithin one (l) month from redemption without additionalinterest.

III.

PROCEDURE
L REGISTRATION OF BIDDERS interested to participat"in ilrc PublicAuction shall registerwith the City Ll All persons present giving address, status, citizenship and otherpersonal Treasurer by their names, circumstances. or other may requirethe presentation of additionalcredentials 1.2 The City Treasurer documents as he may deemnecessary. partiqipants willbe givena copy of the Rules,R.egulations and 1.3 Eachof the prospective Slip. of the PublicSaleandAcceptance Conditions slip. to abideby the rulesshallsignthe acceptance 1.4 Thosewho agree
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l.5 The name of those who manifestedtheir willingness to accedeby the rules will be enteredin the Roster of Bidders and each will be assigneda number which shall representhim and by which he shall be called or referred to during the entire proceedings. 1.6 Only thosewith assigned number may participate in the Sale, 2, CONDUCT OF SALE 2.1 The sales shallbe oralbidding. 2,2 The City Treasuner, representatives or his duly authorized conducting the sale,shall property oneafterthe other. auctiontheentiredelinquent 2.3 Where the land and improvementare coveredby two (2) separate declarationsand in the nameof one (l) personor are declared both are delinquent and are declared in joint ownership,said propertywould be auctionedtogetherto avoid their sale to differentpersons. 2.4 Where an improvementor improvements that could be separated is or are erectedon (2) separate lots that are covered by two declarationsand all are delinquent,said delinquentpropertywill be auctioned togetherfor the samepurpose. 2,5 The bidder who offer to pay the highestprice from which the total amountof taxes, penalties and costof saleare satisfiedshall be declared the winning bidderand shall be entitledto an award. 2.6 Upon paymentof the bid price, the City Treasurershall issuea Certificateof Saleto the sucoessful bidder. by the bidder with the Registryof Deeds. 2.7 The Certificate of Sale shall be registered The period of redemptionshall begin to run within one (l) year from the date of sale, pursuant to RA 7160, 2.8 The personin whosenamethe properfyis listedand assessed shall be furnisheda copy of the Certificate of Sale. 2,9 Proceeds of the sale in excessof the delinquent tax, the interestthereonand the expenses of saleshall be remittedto the ownerof the real propertyor personhaving legalinterest therein,

2007 fnis y'hof November in Marikina

ATTY. N
City A Member

s.
chi

VADOR
GSO ber

ZENAIDA M. SANTOS Budget Officer

Member

r. mrffnz

Treasurer