PLANTATION ACRES PHASE 3
THE VILLAGE
RESERVATION AND SALES AGREEMENT

By entering in to this agreement, Buyer is under no obligation to purchase the reserved property until he/she/they/ has/have had the opportunity to inspect the reserved property and approve the purchase of said property. Buyer is entitled to a full refund until such time, up to 15 days from date of this agreement or until a fully executed contract has been signed by all parties.

_______________________________ (collectively “Buyer”) Plantation Acres (“Seller”) agree as follows:

PLEASE INITIAL EVERY PLACE WHERE INDICATED:

1. Buyer agrees to reserve for purchase, and Seller agrees to reserve for sale to Buyer, the following real property (“the Property”): a corporation duly incorporated and existing under the Laws of the Republic of Costa Rica, corporate identification card number  , domiciled in Costa Rica,Title registered in the Costa Rican Mercantile Registry under book  ___-, page  ________, entry  ___, represented hereby Glenn Robert Schecher, of legal age,  (developer), respectively who acts with sufficient power of attorney; and   _________ Developer, Capital Investor resident of the United States, bearer of the passport number  ______________________,

The Village at Plantation Acres Lot# _______________   

LOT(S) _________________SUBDIVISION, The Village at Plantation Acres; constituting  __________square meters situated in Costa Rica, the project currently identified as Plantation Acres Teak agrees to sell above mentioned lot as follows:

Buyer agrees to make the following payments:

Date        _______________ 

__________  _______________  _______________  Due Date                                                 Amount

Purchase Price                                                     _______________                                  _______________                 
                                       
Reservation Deposit                                             _______________                                   _______________                              

Second Deposit @ formal contract                      _______________                                  ________________

Cash at closing   20%                                           ______________                                   ________________

Total Purchase Price                                             _______________                                  ________________

Mortgage Amount                                                  _______________                                  ________________

 
Additional Terms And Conditions

2. In order for Buyer to reserve the above-referenced lot, Buyer shall sign and return this agreement to Seller along with initial deposit (“the Deposit”). Any deposit made here under shall be made payable to Plantation Acres Teak S.A. Upon receipt of this signed Agreement and the Deposit, Seller will return an executed copy of this agreement to Buyer, and the Escrow Deposit Holder will retain said funds until such time as the Buyer has approved the purchase of same or upon expiration of the fifteen 15 days inspection period (i.e. 15 days from the date of this agreement), whichever date is sooner during which time a formal contract shall be provided for buyers review and acceptance.

3. Buyer may terminate this Agreement at any time prior to the conclusion of the 15 day inspection period by delivering to Seller a written request for refund. Upon receipt of the written request, Seller shall return hundred (100%) percent of the Deposit funds back to Buyer.

4. Seller represents that the Property is contained within a subdivision which is physically accessible by a public or private road and usable by Buyer for constructing or installing a single-family residential building.

5. Buyer acknowledges that the property is subject to zoning regulations, easements and/or reservations in favor of public utilities.

6. Buyer acknowledges that no representations, guarantees, promises of any kind, whether oral, implied, or otherwise, including, but not limited to, assurances regarding future land values or returns that a Buyer will receive from the sale of land, have been made to Buyer, or to any of Buyer representatives, or have influenced or induced Buyer to enter in to this Agreement.

7. Buyer has read and accepts the terms and covenants of the H.O.A. agreement which is attached and will be made part of the formal agreement by their respective signatures.

8. Buyer represents that he/she/they had ample opportunity to read the terms of this Agreement.

9. Buyer acknowledges that he/she/they has/have neither received, nor relied, on any legal advice from the   Seller or any representatives agents of Seller.

10. The property is registered into a sole corporation and this corporation is represented by 34 preferred shares that identify each property individually. Each preference share is the owner of each lot identified by a cadastral map locating the property. Each share of the corporation is the owner of one property. The company and its shares are duly registered in the public records of property in the commercial section of National Registry and the seller will issue a certificate of ownership to each buyer. Every owner will be responsible for his taxes, and maintenance fees with the City Hall and his dues with the Home Owner Association.

11. Buyer agrees to allow Developer to seek individual titles to each share or lot and will comply with any reasonable request by developer or governmental authorities granting permission to do so.