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ING Real Estate Development has completed the exclusive Hanspaulka residential complex

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10. April 2007
Dear Madam/Sir
 
 
From 10 May 2007m Arena Real Estate will be able to address your requests to implement or change the standard equipment of your housing unit, or requests to change its layout.
 
This process will be launched upon submission of a written application available at the sales centers and payment of the fee for the assessment of client-requested changes.
 
Samples of standard and other available equipment of housing units can be seen at our sales centers or showrooms. Their addresses, opening hours and contact details are attached. The showrooms can be visited without a prior appointment, but if you want to get more detailed information and an interim price for your selected non-standard product range, an appointment has to be made with an assigned person, as such a person does not necessarily have to be present at the sales center all the time.
 
Before submitting your application and paying the Fee, you can send your questions regarding client-required modifications of the 2nd and 3rd category to Mr. Milos Lustig (Remin), at milos.lustig@remin.cz. Please specify your name and surname, apartment number and your contact info in the message.
 
Client-required modifications and the Fee:
 
  1. 1st category – free of charge – selected standard equipment (see Schedule 8 to the Letter of Intent, the current version of the standards is also available at http://www.holesovickypivovar.cz/cz/standardy.html),
  2. 2nd category – a fee of CZK 10,000 + 19% VAT, ie. CZK 11,900 – replacement of the standard equipment with other products with no effect on the project (if other than standard fixtures and fittings are chosen, the fact that any change to the connection points of e.g. sanitary installations requires an amendment to the project and constitutes a change of the 3rd category has to be taken into account),
  3. 3rd category – a fee of CZK 25,000 + 19% VAT, ie. CZK 29,750 – any other client-required modifications.
 
The applicable Fee for the assessment of client-required modifications has to be paid within 7 days after the signing of the application. No client-required modification can be processed before the Fee is duly paid.
 
The Fee is non-refundable.
 
If the client-required modifications in the application include modifications of the 3rd category, only the fee applicable to the 3rd category is payable.
 
If it is determined in the course of assessment of a client-required modification that the required change falls into a higher category, the difference between the Fee payable for the 2nd and the 3rd category of client-required modifications has to be covered by the client.
 
If you request additional modifications after the application is submitted, the applicable Fee has to be paid again.
 
Deadlines:
 
Early submission of the application and the completion of the process is a precondition for the due exercise of the right to have the client-required modifications implemented. The application has to be submitted within one month from the execution of the letter of intent and, at the same time, within the deadlines specified below:
 
1st category of client-required modifications: application by 31 August 2007, completion of arrangements for client-required modifications by 30 September 2007
2nd category of client-required modifications: application by 31 June 2007, completion of arrangements for client-required modifications 30 September 2007
3rd category of client-required modifications: application by 31 May 2007, completion of arrangements for client-required modifications 31 August 2007
 
Processing of a client-required modification of the 1st category
 
After the submission of your application, the sales center staff will complete a Client-required Modification Form with you, where your selected standard equipment will be recorded. The client-required modification of the 1st category is completed by the signing of the form.
 
Processing of a client-required modification of the 2nd category
 
After the submission of your application and payment of the Fee, the sales center will get you in touch with Remin, spol. s r.o., the manager of client-required modifications, who will discuss the required changes with you to the full extent, including any standard selected, if applicable (client-required modifications of the 1st category). If the required change has any impact on the project, the manager of client-required modifications will inform you about the Preliminary Work Price (Project Work Price in the Client-required Modification Rules). After this price is paid (within 7 days after being notified), new project documentation will be drafted. When the final Client-required Modification Price is determined and agreed with you, you will execute an Amendment to the contract at the sales center. The Client-required Modification Price has to be paid within 7 days from the signing of the Amendment for the change to be implemented.
 
Other details, the classification of client-required modifications into the categories and a specimen Amendment to the contract, are also included as an attachment to the Letter of Intent (Client-required Modification Rules).
 
If you have any questions or need any additional information, please contact the appropriate staff member of the sales center, who has been assigned to you as your personal broker.
 
In Prague, 10 March 2007