Head of Terms by garrybarnett


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									                                                                           Contract Agreement

                                      Head Of Terms
This agreement is made between XXXX Istanbul, Turkey and XXXXX Europe and XXXX
Investments (the Joint Venture Company).

    1. Purpose of the Agreement.
       The joint venture company has agreed to buy the land known as AB       Land Resort
    2. Detail.
           i)        The Joint Venture Company will be carrying out Due diligence on AB
                     Land Resort.
           ii)       XXXX Istanbul, Turkey will ensure that all the legal documentation will
                     be supplied to the J.V. Company in order that they may raise funding for
                     the purchase of the AB Land Resort.
           iii)      XXXX Istanbul, Turkey will enter into talks with the Joint Venture
                     Company to work with and under the instruction of the J.V. Company for
                     successful completion of the project.
    3. Terms
       a. XXXX Istanbul, Turkey fee shall be a Euros 22 million paid by 30% on completion
       (6.6million euros) with Euros 5,133,333.33 being paid on the anniversary of
       completion, followed by equal payment on the next two consecutive anniversaries by
       the Joint Venture Company
       b. In recognition of this arrangement and to ensure financial insurance for XXXX
       Istanbul, Turkey the Joint venture Company will provide A Bank Guarantee for all
       outstanding payments over the three year period.
       c. XXXX Istanbul, Turkey has not provided exclusivity on the AB Land Resort to the
       Joint Venture Company. The Joint Venture Company will in return for Exclusivity
       agree to the terms in d.
       d. The joint venture company would in return for exclusivity provide XXXX Istanbul,
       Turkey with 10% of the net Profits at the end of the project .Furthermore they would
       also take on XXXX Istanbul, Turkey as a consultant to the project for a fee to be
       agreed in the final agreement.
       e. XXXX Istanbul, Turkey undertakes and Guarantees to cover all the Joint Venture
       Companies due diligence costs should the company sell to a third party.
       f. These costs will include.
                 Site surveys
                 Fees payable to Bank /Funder         for their Due diligence which is non
                 Travel expenses incurred in the due diligence process.
                 Any changes to the scheme undertaken by Architects, Surveyors etc as
                  imposed by the potential funder.
                 Searches on Title
                 All Legal fees incurred.

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