I/We the below named do hereby acknowledge and agree to the following that:

1) I/We have the full power and authority to make this Offer To Purchase the Property as stated in the Offer To Purchase [“Offer Form”] and that the same is only accepted by you upon receipt of the down payment paid by me/us where payment is made by cheque, upon clearance of the same and when the said Offer Form attached hereto is executed by your authorized signatory.

2) SALES PACKAGES
Incentive Scheme

The incentive scheme (“the Scheme”) is offered to me/us strictly upon the following terms and conditions: –
i) The scheme shall be valid within 45 days from the date hereof (hereinafter referred to as the validity date). I/We must complete all relevant documentation required by developer and the appointed end financier within 21 days from the date hereof, any documents submitted after this validity date shall not be entitled to the scheme;
ii) That I/we shall execute the Sale and Purchase Agreement and or any other relevant documents as may be prescribed by the solicitor within 14 days from the date of Letter of Notification to you;
iii) That I/we shall fully settled the 1st 10% and/or any differential sum of the Purchase Price within 14 days from the date of Letter of Notification to you;
iv) That I/we shall engage the developer’s panel of solicitors only for the preparation of the above;
v) that I/we shall accept the Letter Of Offer from the appointed end financier for the purchase of the above-mentioned property within 45 days from the date hereof; and
vi) That I/we shall agree to enter into and has/have executed the relevant end financing including but not limited to documentation as may be prescribed by the bank/end financier (“Security Documents”).

3) In the event that:
a) I/We shall terminate or are in default under the Sale and Purchase Agreement; or
b) I/We shall terminate or are in default under the Security Document; or
c) I/We refinance the Loan with another financier; or
d) I/We fail to comply with any of the terms and conditions of the Scheme; or
e) Transfer the property to another purchaser.

Then the developer shall be entitled to terminate the Scheme by giving me/us seven (7) days written notice whereupon immediately upon the expiry of the said period I/we shall remit to the developer all the interest, legal fees and disbursement paid pursuant to Item 2 above. Thereafter the developer shall be entitled to sell the Property to any third party and shall not be obligated to sell the same to me/us and we shall have no rights and claims whatsoever against the developer.

4) No indulgence of whatsoever kind shown by the developer on the implementation of any of the terms and conditions under the Scheme shall be considered to be a waiver of any of our rights and privileges set herein.

5) The developer reserves the right to amend the terms and conditions herein at any time with or without prior notice to me/us.

6) The developer shall be entitled to set-off any reimbursement of interest to me/us against any sum payable by myself/ourselves to the developer.

7) The contents of this letter may not be assigned and/or transferred to any other party or otherwise deal with without the developer’s prior written consent.

8) If any of the terms and conditions of this letter or application thereof to any party or circumstances, shall be or become invalid or unenforceable, the remaining terms covenants or conditions shall not be affected thereby and each term covenant or condition shall be valid and enforceable to the fullest extent permitted by law.

9) I/We understand that the loan approval is subject to the banks’ loan eligibility criteria which are beyond the developer’s control.

10) I/We hereby agree that should there be any excess between the discounted SPA price and loan amount plus any earlier payment, the excess amount to be transferred to my account after offset against sinking fund, disbursement for electricity and water deposit and all other monies due under the Sale & Purchase Agreement upon vacant possession (where applicable).

11) In the event that I/we fail to execute the SPA, DMC and/or Security Document (if any) and settle the balance amount of the Purchase Price and any other sum requested by us, within fourteen(14) working days from the date hereof/booking date or the date of notification by us or the Solicitors (whichever is earlier) or such other date as may be determined by us, or if I/we terminate or cancel the purchase of the Property, I/we shall not be entitled to this entitlement and such other offer as stipulated herein, and the developer shall in its absolute discretion be entitled not to sell the Property to me/us and thereafter to deal with the Property as deem fit including but not limited to open the Property for sale to any third party without further notification and reference to me/us and I/we shall NOT be entitled to make any demand, claims, compensation or whatsoever against the developer.

12) I/We hereby agree that terms and conditions of this Scheme hereof constitute the entire agreement between me/us with the developer with respect to the Scheme and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the Scheme hereof. For greater clarity, no oral communication or representation from the developer or its agents/staff/employees shall form part of the Scheme and/or sale of the Property(ies) to me/us.