The buyers also subscribe to shares in East Coast Ocean Villas Owners Corporation, an offshore company, which owns the controlling interest in East Coast Ocean Villas Company Limited.

At the completion of the project all shares of East Coast Ocean Villas Owners Corporation will be owned by the lessors in the project giving effective control for renewals and collective controlling the freehold of the entire project.

PURCHASING THE LEASEHOLD INTEREST IN AN APARTMENT

The first step is to select an apartment. To secure apartment you will be requested to sign a "Reservation Agreement" This document defines the relationship you will have with the developer. You will provided with all relevant document for review. If you decide to proceed then you will be provided with the following documents:

1. A 30-year lease of the apartment with options to renew for a further two terms of 30 years each giving a total of 90 year. Contained in this lease will be the right to use all common areas and an undertaking to maintain the apartment and your share of the maintenance of the common areas.

2. An Agreement to subscribe to shares in the offshore company, the shares being actually transferred when the project is complete effectively giving control to the Lessors in the Project over the land ownership and any renewals of the lease and further control over the maintenance of the Common Areas in the Project.

3. The Estate Rules.

PAYMENT INSTALLMENTS

A deposit of fifty thousand Thai Baht at the Reservation Agreement. This deposit is non refundable should you decide that you will not proceed with the Agreement.

East Coast Villas Company Limited recommends that professional legal and financial advice is obtained before purchasing a property.