The Ridge, Grand Turk, Turks & Caicos Islands, Autres pays / Other countries

The warranty is as per the reservation agreement.

1) The Developers are proposing an Ownership Structure that consists of two separate transactions, once a reservation Agreement has been signed and a refundable USD 25,000 deposit in escrow has been received.

The first transaction is the sale and purchase agreement for the land parcel, with the purchaser obtaining immediate and unencumbered title to the land. The land sale is conditional on signing a separate construction agreement for the villa.

Upon selection of a parcel and Villa Model with a Reservation Agreement, purchasers will be provided within 60 days with a Sale and Purchase Agreement for the land, a Construction Agreement for the custom-designed Villa and ancillary agreements for review and execution.

Process:

*At signing of the Sale and Purchase Agreement and Construction Agreement, a deposit on the land price is held in escrow by the BUYER's attorney until completion of the agreements.

*At completion of the agreements, the balance of the land price as well as a 15% deposit of the construction value is held in escrow by the attorneys for a period of 15 days. Payment of Stamp Duty tax on the land price is also due to TCIG at this stage.Payment Structure:

LAND:$25,000 - Deposit at Reservation, To be placed in escrow and credited to purchase. 100% Selected parcel purchase price less deposit credit. Due in full at contract purchase execution.

VILLA CONSTRUCTION: 15% Advance payment at lot closing.25% On construction start.25% On completion of slab & panels on site.25% On roof completion & finishes.10% On closing and/or certified completion.

Note: *15% Villa Construction advance payment is due in escrow at Land Purchase Contract signing and it will be released when the land title certificate is released.

*Payment of Stamp Duty tax on the land price is also due to TCIG at this stage.

*See attached example for estimated payments & construction timing only*The remaining construction payments are due upon reaching specific construction milestones, specifically construction start, ground-floor belt beam, roof, and watertight. The final payment of the construction contract value is made only upon completion and obtaining the Certificate of Occupancy. The Developer set up this appealing payment structure to provide security to the purchaser, by providing immediate title to the land and ensuring a significant payment is made only upon completion.

The Ancillaries Agreements include a:* Home Owners Association (HOA) Restrictive Agreement, for all villa owners;* HOA Articles of Incorporation;* Rental & Property Management Agreement, if purchaser intends to rent rather than occupy full time;* Any other Agreement for any Option if and when selected.