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RHD Foundation

General conditions of the auction.

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RHD Foundation

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  1. General conditions of the auction * Repurchase may take place at any stage of the land plot development after approval of the land planning and survey project and formation of new land plots. Common areas and land plots built up with residential construction with apartments registered as the citizens property are not subject to repurchase. RHD Foundation

  2. Convenient schedule of payment Convenient schedule of payment means the optimal ratio of three components of land charges: 1. Based on the appraisal performed in compliance with the legislation of the Russian Federation concerning the appraisal activity, the initial value of the payment for the right to conclude a lease agreement for the RHD Foundation land plot is determined, in this case the final value shall be determined during the auction; 2. Lease payments are distributed for the whole construction period so that for the first eight quarters after signing the Act of transfer and acceptance for the land plot, there is determined twice less amount of lease payments for the land plot, the right to conclude a lease agreement for which was acquired in the auction (hereinafter – the land plot), or the land plots in case of their formation after division of the land plots according to the land planning project (hereinafter – the formed land plots). The part of lease payments by which the payment during the first seven quarters of lease was reduced, will be uniformly distributed between all subsequent years of lease of the formed land plots from the eighth quarter after conclusion of the lease agreement for the land plot until the end of term for the land development. 3. The repurchase price for the formed land plots is determined on the basis of rates for land plots of federal or municipal ownership as approved by the public authorities of the region of the Russian Federation. In the process of implementation of measures for integrated development of the land plots for housing construction, lease agreements for the formed land plots will expire upon commissioning of the constructed facilities into operation. Therefore, while maintaining the annual rental rate, the amount of lease payments will change according to development of the land. RHD Foundation - 2 -

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