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CHAPTER I - THE REAL ESTATE AND THE LAND

1.1 SELLER is title holder of the useful ownership with regrd to the notionl fr!tions referred to

in ite" III of the foregoing Su""r# nd the !o""on res$ s well s dditionl !onstru!tions nd

i"pro%e"ents to &e "de$ whi!h when red# nd finished$ longside the '!ertifi!te of o!!uption'

when dul# registered with the Rel Estte Registr# (ffi!e$ shll !o"prise the Rel Estte referred

to in the s"e ite" III of the Su""r#$ the !o""on nd pri%te res of the de%elop"ent under

!onstru!tion$ indi!ted in ite" III of the Su""r#$ whose des!ription nd lo!tion re referred to in

ite" III of the foregoing Su""r#$ ll pursunt to the ppro%ed pro)e!t nd De%elop"ent

Spe!ifi!tions indi!ted in ite" III of the Su""r#.

CHAPTER * + (,NERSHIP

2.1. - The fore"entioned lnd ws pur!hsed SELLER pursunt to the pro%isions of ite" III of

the Su""r#.

2.2. The notionl fr!tions within the de%elop"ent s well s the lnd in its entiret# owned

SELLER re !o"pletel# free nd unen!u"&ered of persons nd !httels$ free of rel or personl&urdens or pending legl pro!eedings nd ll tes nd fees h%e &een pid up to dte.

CHAPTER / DE0EL(PENT$ ,(R2S 3INANCIN4 AND ALL(CATED E56IT7/

3.1. As "entioned &o%e$ SELLER is de%eloping nd &uilding the DE0EL(PENT on the

fore"entioned lnd$ s des!ri&ed in ite" III the Su""r#$ pursunt to the ppro%ed pro)e!t

indi!ted in the s"e ite" III of the Su""r#.

3.1.1.SELLER$ owner of the lnd in its entiret#$ hs undert8en the registrtions$ nnottion nd

filing of the De%elop"ent Spe!ifi!tions s spe!ified in ite" III of the Su""r#. The Rel Estte

de%elop"ent des!ription is !ontined in the fore"entioned De%elop"ent Spe!ifi!tions9

3.2. :67ER here de!lres tht it is wre tht SELLER "# !ontr!t finn!ing in!luding

"ortgge gurntee nd other !o%ennts with finn!il gents$ in order to produ!e nd;or "r8et

the de%elop"ent$ est&lishing o&ligtions for the owner$ the SELLER herein$ regrding the %lues$dedlines$ "onetr# restte"ent$ re"unertion nd other issues relted to the prin!iple of

!ontr!tul utono"#$ &sed on !riteri est&lished the finn!il gent.

3.3. 6pon entering into the fore"entioned gree"ent$ the lnd nd its tt!h"ents shll &e

"ortgged$ n"ing the finn!il gent s "ortgge !reditor$ with whi!h :67ER irre%o!&l# nd

irre%ersi&l# grees$ here de!lring SELLER$ the owner$ ttorne# in f!t of :67ER pursunt to

!luse .?< of the Ci%il Code$ on &ehlf of

:67ER$ to sign$ nd "end$ re-rtif# nd lter the pri%te lon gree"ent with the ortgge

Creditor for !onstru!tion with "ortgge gurntee nd other !o%ennts$ in order to produ!e theDE0EL(PENT$ here entitling SELLER to enter into !luses nd !onditions$ gree dedlines$

finn!ing rtes nd other issues$ offering rel gurntees$ "ortgging the notionl fr!tions of the

lnd where the DE0EL(PENT is to &e !onstru!ted longside n# i"pro%e"ents nd dditionl

!onstru!tions tt!hed thereto$ further"ore representing :67ER to register the "ortgge nd

!onditionl sle with the Rel Estte Registr# (ffi!e$ nd shll SELLER shll further"ore &e

entitled to !rr# out n# !ts$ sign ppers$ do!u"ents$ howe%er spe!il the# "# &e nd s re=uired

to full# nd fithfull# dis!hrge this "ndte$ in!luding delegtion of powers.

3.5.:67ER here de!lres tht/ @ prior to signing this gree"ent$ it hs red nd e"ined the

drft thereof9 &@ the pro%isions in this gree"ent h%e &een full# nd finll# understood :67ER

nd it here de!lres it is &le to !o"pl# with su!h pro%isions$ nd shll not &e entitled to llege

tht it ws not infor"ed of su!h pro%isions9 !@ finn!il o&ligtions undert8en re

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!o"pti&le with :u#ers e!ono"i! nd finn!il !p!it# to honor the"9 d@ :u#er here su&"its

to the Condo"iniu" Regultions nd Asso!ition :#lws !ited in ite" B of the Su""r#$ pursunt

to !luse '1*.1.'$ here de!lring tht it is full# wre of su!h do!u"ents nd undert8es to

&ide the"9