Descripton

To ensure the interests of investors, a plot of land with foundations will be pledged, on which 2 multi-apartment houses will be built. New houses under construction/planned to be built on the plots will also be pledged to investors.

Investors at all stages will be pledged the property with a primary mortgage. During this financing stage, the property pledged to investors will be used to secure the obligations of the project owner for other (additional) financing stages, provided that the project owner raises the value of the pledged property to such a level as to meet the maximum LTV of 70%.

Following this funding phase, a new valuation of the mortgaged property will be performed. Further stages of the Project financing will be announced and collected only if the set maximum LTV of 70% is not exceeded.

When investing in this project, during the second and subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does not affect the seniority of the investor’s right to the collateral, the overall ratio of the collateral to the amount of the investment. This provision will also not apply in the event of termination of the loan agreement.