This Reservation Agreement is made between The Vendor: Deejay Investments Ltd c /o Flagship Homes Ltd The Tradewinds Golf Villas Windward Road, Cap Estate P.O. Box RB2554 St. Lucia, West Indies And the Purchaser: ____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ For the Property: Lot ________ Tradewinds Golf Villas, Windward Road, Cap Estate St. Lucia, West Indies Together with a Villa to be built on the lot by Flagship Homes Ltd. Villa Model Name ______________________________________
The Parties Hereby Agree as Follows; 1. The Vendor shall reserve the Property for the Purchaser for a period of 21 days at which time the Purchaser must either; a) Enter into a mutually agreed upon Agreement for Sale for the Property in a form substantially in conformance with the “Standard Form of Agreement for Sale – Tradewinds Golf Villas” (attached hereto as Exhibit A) and all deposits paid hereunder shall be applied toward the deposit under the Agreement for Sale, or
b) Notify the Vender of their intent to terminate this Reservation Agreement without entering into the Agreement for Sale. All notices shall be in writing and delivered to the Vendor’s Attorney by hand delivery or by FedEx overnight delivery, return receipt requested. If this reservation agreement is so terminated, then all deposits paid hereunder shall be returned to the Purchaser and all obligations of the Parties under this Reservation Agreement shall cease. Time is of the essence for all notices. c) In the event that no Agreement for Sale is entered into and no notice terminating this Agreement is given, then all deposits paid hereunder shall be forfeited by the Purchaser and kept by the Vendor and all obligations of the Parties under this Reservation Agreement shall cease. 2. The Vendor hereby acknowledges receipt of a deposit in the amount of US$5,000.00 as consideration for entering into this Reservation Agreement 3. The purchase price of the Property is US$ ___________________________ 4. The Purchaser shall make a deposit equal to 10% of the purchase price upon entering into the Agreement for Sale. 5. The Purchaser acknowledges receipt of a) Exhibit A “Standard Form of Agreement for Sale – Tradewinds Golf Villas.” b) Exhibit B “Standard Form of Agreement for the Construction of a Villa by Flagship Homes Ltd. c) Exhibit C “Survey plan for the Tradewinds Golf Villas.” 6. Notices: a) All notices to the Purchaser shall be sent to the address on page one of this Agreement. b) All notices to the Vendor shall be sent to Vendor’s Attorney: Brenda Floissac Fleming Floissac Fleming & Associates Cnr. Brazil & Mongiraud Streets Castries, St. Lucia, West Indies 7. The parties agree that any amendment to this Agreement shall be in writing and signed by the parties.
8. This Agreement shall be interpreted in accordance with the Laws of Saint Lucia, which the parties hereby declare to be the proper law of this Agreement. 9. The parties hereby agree that this Agreement can be signed by fax or email and in counterparts, each of which, when executed, shall be deemed to be an original, but all of which when taken together, shall constitute one and the same agreement.
__________________________ VENDOR Deejay Investments Ltd
Flagship Homes' Standard Contract for the Reservation of a Villa to be Built