By completing and submitting this Property Reservation Form (hereinafter, "Reservation"), you imply acceptance of the following terms and conditions:
(i) Tempat Sala Aparthotel, SRL (hereinafter, the "Owner"), reserves the exclusive rights of the goods, so this document does not constitute a formal sale, nor promise of sale and can be canceled by any of the parties, in the terms and conditions of this reservation.
(ii) The payment of the sum of US$5,000 dollars (hereinafter referred to as the "Reservation Deposit") that was made at the time of signing this document, is made as the reservation of the apartment and will only be returned in full if the reservation is canceled within ten (10) days following the signing of this document. If the client abandons the operation after this period, a retention penalty of 50% of the amount will be applied for administrative and legal expenses, but not if the cancellation is made by the owner within ten (10) days following the signing of this document. In this situation your “Reservation Deposit” is 100% refunded.
(iii) The Reservation Deposit will be paid in the first payment referred to in the Promise to Purchase Agreement that will be signed by the parties.
(iv) This Reservation of Ownership will not be transferred or sold to third parties without prior notice and written consent of the owner. If the transfer or sale of the Reserve right included in this document is executed, the owner will keep 50% of the Reservation Deposit, for legal assistance expenses, and the difference to complete the total amount of the deposits. If the assignment is denied, only 50% will be refunded.
(v) This document is signed under the laws of the Dominican Republic.
