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AGREEMENT FOR SALE

THIS AGREEMENT FOR SALE is made on the


day of
, Two Thousand and Eleven BETWEEN the Vendors and
Purchasers as defined in the Schedule hereto WHEREBY it is agreed that the Vendors will sell and the Purchasers will purchase ALL
THAT parcel of land more particularly described in the Schedule hereto for the consideration and upon the terms, conditions and
stipulations set out therein.
SCHEDULE

VENDORS:

ADRIAN BEVINGTON CHARLES SMIKLE Property Developer of 4c Sky Castles,


Ocho Rios, in the parish of Saint Ann TRN: 116-816-481
AND MARLENE ODELE POWELL, Secretary of 21 Saint Faiths Road, West Dulwich,
London SE21 8JD, United Kingdom.

PURCHASERS:

ERROL THORNE, Self Employed (Fire Protection Consulting) of 31 Twickenham


Drive, Spanish Town, in the parish of Saint Catherine
TRN:

DESCRIPTION OF

ALL THAT parcel of land part of

PROPERTY:

LANDOVERY ESTATE called FLAT POINT in the parish of SAINT ANN being Lot 7
comprising 1224.22 (M) of the shape and dimensions and butting as appears by the
plan thereof No. PE:351068 attached hereto and being part of the land comprised
in Certificate of Title registered at Volume 1243 Folio 718 of the Register Book of
Titles. The said land is residential land zoned for family dwelling which should
comprise of no more than a family dwelling house together with helpers quarters. No
commercial property or business should be erected on the said land.

SALE PRICE:

ONE HUNDRED & FIFTY THOUSAND U.S DOLLARS (US$150,000.00).

HOW PAYABLE:

(a) A 50% deposit of Seventy Five Thousand US Dollars (US$75,000.00) to be


released and payable to the Vendor on the signing of Sales Agreement (Less Stamp
Duty and Transfer Tax which will be held by Purchasers attorney-at-law).
(b) The 50% balance of Seventy Five Thousand US Dollars (US$75,000.00) on
completion.

COMPLETION:

Ninety (90) days of the date hereof on payment of the balance of the purchase
monies in exchange for the Registrable Transfer, Original Duplicate Certificate of
Title for the subject premises and other documents (if any) to effect registration of
the purchasers on the said Certificate of Title, Certificate of Payment of Taxes
evidencing land taxes paid up to date of completion and provided that the
infrastructure for electricity, water are in place.

ENCUMBRANCES:

Free from encumbrances other than the

RESERVATIONS

restrictive covenants and easements (if

RESTRICTIONS

any) endorsed on the Certificate of Title

& EASEMENTS

and such easements as are obvious and

apparent.

POSSESSION:

Upon completion.

TITLE:

Under the Registration of Titles Act duly


endorsed in the name of the Purchasers in exchange for all monies payable by the
purchasers hereunder.

CARRIAGE OF SALE:

The Vendors herein.

PURCHASERS ATTORNEY

Mr Winston O. Young, LLM Attorney-at-Law of

Main Street, May Pen, Clarendon

Purchasers Local Contact:

TAX, WATER,

Mr Kelvin Knight, Tel: 842-4769

To be apportioned as of the date of

RATE & RENT:

possession.

COST OF TRANSFER:

Stamp Duty and Registration fee to be borne by the Vendors and Purchasers in
equal shares respectively. Each party to bear his own Attorneys cost.

TRANSFER TAX

To be borne by the Vendor solely.

COMMISSION:

3% plus G.C.T. thereon payable to Supreme Real Estate by the Vendor upon
completion.

SPECIAL CONDITIONS

(1)

It is a special condition precedent to the coming into effect of this Agreement that same first be signed by both Vendor
and the Purchaser and the deposit paid. In the event of the deposit and further payment being paid by cheque or
other negotiable instrument, which is dishonoured on first presentation, this Agreement shall be automatically
rescinded.

(2)

It is understood and agreed that the Purchasers Attorneys-at-Law shall be entitled to Stamp this Agreement for Sale
with Stamp Duty and Transfer Tax from the deposit and that if for any reason whatsoever the deposit has to be
refunded to the Purchaser, the Purchaser shall to the extent of such duty and/or Tax so impressed be deemed to have
refunded same by delivery up to him of the original tax receipt and stamped Agreement duly noted as cancelled.
Otherwise, the deposit shall be refunded to the Purchaser without interest and the further payment shall be refunded
to the Purchaser subject to special condition 3.

(3)

In the event of the Agreement being rescinded, all money paid hereunder by the Purchaser to which he shall be
entitled to be refunded shall be refunded with interest at the rate of 10% per annum calculated from the date of
rescission to the date of actual payment.

(4)

It is understood and agreed that if the amount of Transfer Tax or Stamp Duty on this sale is assessed by the Stamp
Office to be more than the normal amount, the Purchaser may pay the full excess in the assessed fee within fourteen
(14) days of being notified.

(5)

In the construction of this Agreement, where the context so admits, the word Purchaser shall be deemed to refer to
one or more persons purchasing from the Vendor, and the words he, him, or his, indicating the masculine gender
and singular numbers shall be deemed to refer to and include the feminine and neuter genders and the plural number,
and where there is more than one Purchaser, their Agreements shall be joint and several.

(6)

The purchasers hereby agree to pay interest at the rate of ten per cent (10%) per annum on all moneys payable
hereunder which are not paid on the date or dates on which such payments were due, computed from the date on
which payment should have been made to the date of actual payment. Any payments received by the Vendor from the
Purchasers shall be applied first to any interest then due and thereafter to the balance purchase price.

(7)

The Purchasers hereby agrees to pay a maintenance fee of US$60.00 per month on completion of the development by
Smikle Investment Limited to the entity responsible for the upkeep and maintenance of the development.

(8)

Forfeiture will take place for non performance under the terms of the contract whereby forfeiture is limited to 10% of
the purchase price and damages.

(9)

No Assignment of this contract or sub-sale of the land to a third-party nominee is permitted until practical completion
has taken place.

(10)

No Boundary Wall to be erected at the front of the property, facing the road. All grounds to be kept tidy & cut on a
monthly basis.

INSURANCE:
(11)

It is understood and agreed that the liability of the property shall become on exchange the risk of the Purchaser until
completion. Vendors interest to be noted on the Insurance Policy of the Purchaser.

SIGNED by the Vendor


In the presence of:

__________________________)
Witness

SIGNED by the Vendor


In the presence of:

__________________________)
Witness

)
)
)
_____________________________
ADRIAN SMIKLE (Vendor)

)
)
)
)
_____________________________
MARLENE ODELE POWELL (Vendor)

SIGNED by the Purchaser


In the presence of:
)
)
)

________________________ )
ATTORNEY-AT-LAW

)
)
__________________________________
ERROL THORNE

(Purchaser)