Pavara Khiri Collection Project (“PavaraProject”) is the villa development project[-A brief details of project should be described-]
A plot of land where Pavara Project is situated is legally owned by our groupof companies, Temple Assts Co., Ltd. The Pavara Project’s land is representedby a Chanote title (Title Deed) no. 23142, Land No. 15, Survey Page No. 3800having the total land area of 8 Rias 1 Ngan 51.3 Square Wah.
The villas in Pavara Project will be available on afreehold basis but the plots of land on which the villas are constructed willbe available on both freehold and leasehold basis depending on a buyer’s purchasingstructure. The villas can be purchased either in a name of juristic person(entity) or an individual.
Since Pavara Project is not subject to environmentalimpact survey requirement under applicable law, no environment impact survey isconducted.
As of now, we are under the process of applying for thebuilding construction permits which is expected to be obtained by [•] andthe villa construction will be commenced no later than [•].Electricityand water meters will be installed upon completion of villa construction.
Currently, we are on the process of applying forsubdivision of the lands in accordance with project plan and it is expectedthat the subdivision would be complete no later than [•]. Upon subdivision is completeand the building construction permits are granted, the villa construction willbe immediately commenced.Household books for villas will be applied and issuedafter the villa construction is completed.
All villas will be situated on Chanotetitle deeds.
[-please provide a briefdetail regarding source of fund for project development, i.e. applying for acredit facilities from a commercial bank, etc.-]
As required by applicable law, all villas will do havethe building construction permits duly issued by the competent authority.
According to our project plan, the construction will be commencedno later than [•] andit is expected to complete within [•] except in case where a force majeure event occurs.
[-Please describe on how to guarantee the master plan-]
A maintenance fee for the common facilities and relevantservices provided within the Pavara Project will be charged on [a quarterly/yearly basis]and will be calculated on based on the size of villa. A maintenance fee will beutilized for management, maintenance, repair and replacement of commonfacilities.Amaintenance fee may be additionally charged in proportion to the buyer’s ratioof common interest in case the balance of maintenance fee collected in any yearis not sufficient to cover the management, repair and maintenance expensesincurred in such year.
TempleAssets Co., Ltd as the owner of the Pavara Project’s land will perform themanagement of the common facilities. The common facilities mean any part of thePavara Project which is not the villas and the individual land plots where thevillas are constructed thereon.
Thereservation fee is non-refundable and is a part of the purchase price as setforth in the relating agreements. However, the reservation feemay be refunded if theregistration of the ownership transfer does not occur due to the Seller’sbreach of any terms and conditions hereunder.
Thebuyer may transfer or assign all of his/her rights and obligations underrelating agreements to a third party, provided that the administrative expensesin relation to such assignment will be additionally charged.
If the late handover of villa occurs as a result ofseller’s fault, the seller will be subject to a penalty at the daily rate of [0.01] percent of thepurchase price but the total penalty in any case shall not exceed 10 percent ofthe purchase price.
Subjectto the seller’s entitlements available under the relating agreements, Latepayment of any amounts required to be paid to the seller will be subject to alate payment charge calculated on the outstanding payment from the due dateuntil the date payment is fully made.
Any dispute arisen out of or in connection with PavaraProject’s relating agreements will preliminarily be resolved by a good faithdiscussion and negotiation between the parties. However, if such dispute cannotbe resolve in an amicable way, it will be referred to the competent court ofThailand.
Thereis no restriction on selling the villa by the buyer after handover. However, relevantadministrative fees will be charged and the buyer will have a duty to arrangefor the assignee to be bound by and continue complying with the terms ofrelating agreements.
[-We understand this question refers to the renting outthe villas. Please describe if any rental guarantee is provided. If noguarantee is provided, then the standard minimum rental rate will be appliedand the villas will not be rent out at the rate below than such standard rentalrate-]
[-The market conditions affecting the selling price maybe described-]
Roofing and structural forming part of the villa will bewarrantied for a period of [•] yearafter the Registration Date. Other parts of the villa, the furniture, fixturesor appliances will be warrantied for a period of [•] year after the RegistrationDate.TheRegistration Date means the date of which the transfer of the villa has beenregistered with the competent Land Office.