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Basic Terms and Conditions of the Auction

Basic Terms and Conditions of the Auction.

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Basic Terms and Conditions of the Auction

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  1. Basic Terms and Conditions of the Auction * Redemption may occur at any stage of the development of the plot after the approval of the project for planning and surveying of the territory and the formation of new plots. Common areas and plots for residential buildings with apartments owned by the citizens are not redeemable. RHD Foundation

  2. Convenient Payment Schedule The convenient payment schedule implies optimal ratio of three components of payment for the land plot: 1. Based on the assessment performed in accordance with the legislation of the Russian Federation on assessment activity the startup value of payment for the right to conclude the RHD Foundation’s land plot lease agreement was determined but its final value shall be determined during the action; 2. The lease payments shall be distributed for the whole construction period so that the lease payment reduced by two times is established for the land plot, the right of conclusion of the lease agreement of which is acquired at the action (hereinafter referred to as the “land plot”) or the land plots which are formed as a result of land surveying in accordance with the land surveying project (hereinafter referred to as the “formed land plots”) for the first six quarters from the date of signing the land plot acceptance and transfer certificate. The part by which the lease payment for the grace period is reduced shall be evenly distributed for all years of lease of the land plot or formed land plots following after the expiration of the grace period till the end of development of the territory. 3. The redemption price of the formed land plots shall be determined in accordance with the rates for the plots of land in state or municipal ownership approved by state authorities of the constituent entity of the Russian Federation. During implementation of the measures on complex development of land plots for the purpose of housing construction the lease agreements for the formed land plots shall be terminated after the facilities built thereon are commissioned. Thus, while the annual lease rate remains the same, the lease payment amount will be changed depending on the land development. RHD Foundation - 2 -

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