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These terms and conditions apply to the offer made by the Offeree to the Vendor for the purchase of the Property by the Offeree
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The Deposit shall be payable by the Offeree on the date of signing of this EOI. The parties here to agree that the Deposit will be held by
the Vendor and shall be applied towards the first instalment of the Purchase Price amounting to ten percent (10%) of the Purchase Price
(the "First Instalment") pursuant to the terms of the offer to purchase/agreement of sale that will be entered into between the parties if
the offer of the Offeree is accepted by the Vendor and the purchase transaction is completed. The receipt of the Deposit by the Vendor
does not bind the Vendor to sell the Property to the Offeree. The sale of the Property is subject to the Vendor's absolute discretion, the
agreement by the Offeree on the Vendor's terms and conditions of sale and final approval of the sale of the Property by the Vendor.
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If the Offeree's offer is accepted by the Vendor, the Vendor shall invite the Offeree to sign the offer to
purchase of the Property and/or the agreement of sale of the Property. The Deposit shall then be applied
towards the First Instalment and the balance between the Deposit and the First Instalment will need to be paid by the Offeree on the date
of execution of the offer to purchase/agreement of sale of the Property. Offeree agrees to sign the terms and conditions of Unit
Reservation Form (URF) Purchase offer (PO) and the Sale and Purchase Agreement (SPA) when issued by Vendor upon allocation of the
unit with vendor. For avoidance of doubt, the URF, PO and SPA will be based on standard terms and conditions along with standard
payment plan applicable to the offeree's within the project
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In the event the offer of the Offeree to purchase the Property has not been accepted by the Vendor, and unless the parties here to
agree otherwise, this EOI shall terminate without the need for any legal proceedings or court judgment and the Deposit shall be refunded
by the Vendor to the Offeree without interests. No compensation of any kind shall be payable by the Vendor to the Offeree in respect or
in connection thereof. In the event the reservation form / offer to purchase / agreement to sell is not issued by the vendor to the offeree
within 60 days from the date of signing this EOI then the offeree deposit shall be refunded by the vendor to the offeree.
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The Vendor shall have the right, at any time, without any liability whatsoever and without the need for any notice, legal proceedings or
court judgment, to reject the offer made by the Offeree for the purchase of the Property pursuant to this EOI and the provisions of article
4 of this EOI shall apply.
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This EOI is binding on the Offeree. In the event the offer of the Offeree under this EOI is accepted by th Vendor but the Offeree does
not sign the offer to purchase of the Property/agreement of sale of the Property as the Vendor may require within ten (10) days from the
date the Vendor invites the Offeree to do so in accordance with article 3 above or the Offeree fails to timely pay the balance of the First
Instalment in accordance with article 3 above, then the Vendor may at its sole discretion immediately terminate this EOI without the need
for any legal proceedings or court judgment and the Deposit shall be absolutely forfeited and retained by the Vendor as compensation
due to the Vendor.
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This EOI is non-transferable and non-assignable by the Offeree and any offer to purchase/agreement of sale shall be issued in the name
of the Offeree only. The Vendor shall have all rights to assign at any time this EOI or any part thereof or any benefit, right, obligation or
interest thereunder to any of its affiliates or subsidiaries (Including to any joint venture company in which the Vendor, its parent company
or any of their affiliates or subsidiaries are a shareholder) without the need for the Offeree's consent.
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This EOI will immediately terminate on due and proper execution of the offer to purchase and/or the
agreement of sale of the Property by both parties.
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The Offeree shall keep this EOI confidential and shall not disclose its contents to any third party, other than to the Offeree's legal or
financial advisors, or as otherwise required by law.
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This EOI and the rights of the parties here to shall be governed by the laws of Dubai and the United Arab Emirates
applicable in Dubai. The parties hereto agree that any legal action or proceeding with respect to this EOI shall be subject to the
exclusive jurisdiction of the Dubai Courts. For the avoidance of doubt, the DIFC laws and courts are excluded.