PARTICULARS OF PROPERTY Subject Property : Developer’s Unit No. C-46, Level Concourse, Waterfront Mall held under Parent Title Town Lease 017553187, District of Kota Kinabalu, Sabah. Address : Xxxx Xx. X-00, Xxxxxxxxx Xxxxx, Xxxxxxx Xxxxxxxxxx Xxxx, Xxxxx Xxx of Property Xxxx Xxxxxxx, 88000 Kota Kinabalu, Sabah. Type of Property : A retail unit. Approximate : 1,460 square feet (135.64 square metres) Floor Area Tenure : Assumed to be 99 years leasehold interest. of Subject Property Developer : SUNSEA DEVELOPMENT SDN BHD (210948-D). Landowner : THE MAYOR OF THE CITY OF KOTA KINABALU. Encumbrance : Assigned to MALAYAN BANKING BERHAD (3813-K). Reserve Price : Subject Property will be sold on an “AS IS WHERE IS” basis subject to a reserve price of RM690,900.00 (RINGGIT MALAYSIA SIX HUNDRED NINETY THOUSAND AND NINE HUNDRED ONLY) and subject to the express terms and conditions of the CONDITIONS OF SALE and by way of an Assignment from the above Assignee/Bank and also subject to the consent being obtained by the successful bidder (hereafter the Purchaser) from the Developer and/or Liquidator and/or the Landowner, relevant authorities (if applicable) including all terms, conditions, stipulations and covenants which are and may be imposed by the Developer and/or Liquidator and/or the Landowner and/or relevant authorities in regard to the Subject Property. Deposit : All intending bidders are required to pay a deposit which is equivalent to 10% of the fixed Reserve Price for the Subject Property by way of Bank Draft or Cashier’s Order only drawn in favour of MALAYAN BANKING BERHAD, the Assignee/Bank prior to the auction sale with the undermentioned Auctioneer and the balance of the purchase price (90%) shall be settled within ninety (90) days to the Assignee/Bank from the date of the auction sale by Bank Draft or Cashier’s Order only drawn in favour of MALAYAN BANKING BERHAD, failing which the Purchaser shall forfeit the 10% deposit and pay the same absolutely to the Assignee/Bank.
