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[G.R. No. 128567.August 5, 2002]

HUERTA ALBA RESORT, INC. vs. CA, et al.

THIRD DIVISION

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated 05 AUG 2002.

G.R. No. 128567(Huerta Alba Resort, Inc. vs. Court of Appeals, and Syndicated Management Group, Inc.)

On March 13, 2002, petitioner filed a Motion for Extension of Redemption Period "in view of delays caused by certain supervening incidents that took place while petitioner was making preparations to exercise its right to redeem the subject property." Said motion was granted in this Court's Resolution dated June 3, 2002 thus giving petitioner at least three (3) months from March 15, 2002 within which to redeem the subject property.

In the instant Manifestation and Motion dated June 13, 2002 filed by petitioner, it was alleged that petitioner sent a letter to private respondent requesting that it be allowed to visit the Canumay, Valenzuela property for the purpose of showing the same to prospective buyers and to enable the latter to make an appraisal or evaluation of the property. Petitioner manifests that Mr. Cesar Goco of Asean Pacific and/or APP Construction & Development Corporation has expressed an interest to invest in the said property either as a vendee in a Deed of Conditional Sale or as a strategic investor in a joint venture with petitioner. Petitioner alleges that the only remaining condition for the finalization of the contract and the release of tender of redemption money is the survey and appraisal of the property after an ocular inspection. However, Mr. Goco was allegedly denied entry to the subject property. In the same Manifestation and Motion, petitioner likewise commits itself to pay private respondent directly the corresponding redemption money within a period of ten (10) banking days after the said ocular inspection.

WHEREFORE , as prayed for by petitioner, private respondent is hereby directed to allow Asean Pacific Planners and/or APP Construction & Development Corporation, its officers and/or its representatives to enter the subject premises for the purpose of inspection and appraisal. Petitioner shall pay private respondent directly the corresponding redemption money within a period of ten (10) banking days after the said ocular inspection, which must be conducted within two (2) months from petitioner's receipt of this Resolution. Should petitioner fail to cause the ocular inspection or to make the necessary payment within the said periods, the Court shall automatically consider such failure as a waiver by petitioner of its right to redeem the subject property. Case remanded to the Regional Trial Court for execution.

SO ORDERED.

Very truly yours,

(Sgd.) JULIETA Y. CARREON

Clerk of Court

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