Time of Completion of Subdivision or Condominium Plans

Time of Completion. Every owner or developer shall construct and provide the facilities, improvements, infrastructures and other forms of development, including water supply and lighting facilities, which are offered and indicated in the approved subdivision or condominium plans, brochures, prospectus, printed matters, letters or in any form of advertisement, within one year from the date of the issuance of the license for the subdivision or condominium project or such other period of time as may be fixed by the Authority.

CONSEQUENCE OF DELAY

> Petitioner may be held liable for damages

EXTENSION OF TIME FOR COMPLETION

> A request for extension of time to complete development of condominium or subdivision project may be granted only in cases where non-completion of the project is caused by fortuitous events, legal orders or force majeure and with the written notice to lot or unit buyers without prejudice to the exercise of their
rights pursuant to Section 23 of this Decree

> The request for extension of time for completion shall be accompanied by a revised and financing scheme thereof