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FINANCIALS

Payment Schedule

Payments of Development Fees are scheduled to occur throughout the development phase in accordance with achievement of specific milestones in completion. Payment scheduling is as follows:

• US$ 15,000 Deposit upon the signing of a Reservation Agreement (First Payment)
• 30% of the Development Fees (less the First Payment) within 30 days of execution of this Agreement or upon the attendance of the purchaser or his appointed designee before a Notary for the execution of the Preliminary Agreement for Grant of Hak Pakai / Agreement Binding for Sale & Purchase (as the case may be), the Management Agreement and associated documents (whichever is earlier) (Second Payment)
• 30% of the Development Fees upon construction being certified as 30% complete by the Building Architect (Third Payment)
• 30% of the Development Fees upon construction being certified as 60% complete by the Building Architect (Fourth Payment)
• 10% of the Development Fees upon the Villa being certified as Practically Completed by the Building Architect and payable immediately prior to Closing (Final Payment)