IMMOVABLE PROPERTY LAND SALES CONTRACT PERTAINING TO THE IMMOVABLE PROPERTY by batmanishere

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									IMMOVABLE PROPERTY (LAND) SALES CONTRACT PERTAINING
  TO THE IMMOVABLE PROPERTY IN ISTANBUL/BAKIRKÖY/
     ZEYTINLIK 59/2 BLOCK NUMBER, PARCEL NUMBER

Turkey Housing Development Administration Presidency (Address: Bilkent Plaza, B1
Blok, 06800-Bilkent/Ankara) (Hereinafter referred to the “Authority”) and
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residing at the above-mentioned address (it is compulsory to show a notification
address within the boundaries of Turkey)
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(Hereinafter referred to the “Buyer”).
The below-stated immovable property sales contract is made under the following
conditions by and between the above-stated parties. The lands which are under the
possession of the Authority and which are presented to sale by the Authority will be
hereinafter referred to the “Immovable Property”.
1-SUBJECT OF THE CONTRACT
The sale of the lands which are under the possession of the Authority is carried out in
accordance with the provisions of this contract.
The subject of the contract is the sale of the immovable property with the below-
stated characteristics to the Buyer under the conditions which are stipulated in this
contract.
PROVINCE/DISTRICT: ISTANBUL/BAKIRKÖY/ZEYTINLIK
SECTION NUMBER: 50
BLOCK NUMBER: 59
PARCEL NUMBER: 2
SURFACE AREA (Square meter): 124.980,00 m²
The buyer agrees and undertakes that the immovable property 124.980 m² surface
area 59 block number and 2 parcel number which is situated in Istanbul province,
Ataköy coastline will be presented to the usage of the public in accordance with the
public benefit with the construction m2 usage opportunity, approximately 52.000 m²
part as shown on the map (42% part) and approximately 16.000 m² filling area and
total 68.000 m² area landscape arrangement, and no construction will be made on
this area of 68.000 m² and will register such matters in the title registry and the
immovable property is purchased with this condition.
2-PAYMENT METHOD AND SALES PRICE
2.1. PAYMENT METHOD: In advance term
2.1.1. IN CASE THE PAYMENT METHOD WILL BE IN ADVANCE:
ADVANCE SALES PRICE (VAT EXCLUDED):...................................................TRY.
2.1.2. IN CASE THE PAYMENT METHOD WILL BE IN TERM (IN INSTALLMENTS):
TERM SALES PRICE (VAT EXCLUDED): .................................................TRY.
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PREPAYMENT AMOUNT (20% of the Sales Price):
.................................................TRY.
INSTALLED DEBT REMAINDER: ................................................. TRY.
(it is found by means of deducting the total prepayment amount from the term sales
price of the immovable property.)
TERM: 24 months.
The buyer agrees and undertakes to pay the part which is determined by means of
the below-written procedure of the amount of .....................................................TRY
which is the installed debt remainder in monthly installments which will also include
terminal addition as stated also below and during the above-stated term maximum.
INSTALLMENT AMOUNT AND DEBT REMAINDER DETERMINATION PRINCIPLES:
The amount of ................................. TRY which is the starting installment is found by
means of dividing the remainder debt amount which is the amount of
................................. TRY which is found by means of deducting the total prepayment
amount from the term sales price into 24 equal installments.
The installment payments will be made every month. The first installment payment
will be paid to the accounts of the Authority beginning from the date of signing the
Sales Contract which will be signed between the Authority and the Buyer until the
19th day of the following month, and then the remaining installments will be paid to
the accounts of the Authority not later than the 19th day of every month. The 3-month
interest amount will be calculated and notified to the bidder by means of taking basis
the interest rate which is applied to the current monthly time deposits by the Republic
of Turkey Ziraat Bankası A. . in which the Authority accumulates interests (the
interest rate of Republic of Turkey Ziraat Bankası A. . of that day will be taken as
basis, on the condition it will not be less than the interest rate which is valid as of the
date of this Contract) on the remainder debt in the beginning of the related 3-month
period in the ends of the 3-month periods. The interest payments will be also made to
the accounts of the Authority together with the installment amount in the ends of each
3-month period. The buyer agrees and undertakes to pay the monthly default interest
which will be calculated by means of applying separately for every month the default
interest rate which is determined by the Ministers Council depending on the power
granted to the Ministers Council with the fourth clause of the 51st article modified with
the Law dated 25.12.2003 and numbered 5035 of the Law about the Collection
Procedures of the Public Receivables numbered 6183 in the delays which may take
place in the installment payments which should be deposited in term and takes part
in the first clause of the same article.
2.2. The Authority makes/sends all kinds of notifications to be made to the Buyer
relating to the subject of this Contract by means of ordinary postage to its address as
specified in the contract. The Buyer could not refrain from performing its obligations
which are subject of the notification by claiming that it failed to take the notification.
2.3. The Buyer agrees and undertakes in advance that the Authority will not be
responsible for the delay of the setoff transaction of its debt because of the late
transfer of the installment prices which are sent to be deducted from its debt through
the Bank branches to the accounts of the Authority with delays.
2.4. All kinds of expenditures, dues and outlays, stamp tax and dues pertaining to the
registration, approval and other transactions as required by all kinds of transactions
relating to indebting and all kinds of expenditures to be made from the administrative
local proceedings arising from the debts and the expenses arising from the power of
attorney transactions belong to the Buyer.
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2.5. The Buyer agrees unconditionally that the records and books of the Authority will
be unique evidence in all kinds of accounts and disagreements concerning the
indebting and payment which are subject of this contract.
2.6. The Buyer can close the remainder debt on the installment amounts which are
not due in single payment on the condition of obtaining the prior approval of the
Authority.
2.7. In the event the Buyer fails to pay at least two consecutive installments from the
installments which it is obliged to pay or in the event the total amount of the unpaid
installments is more than one tenth of the sales price; then the Authority is entitled
not only to decide to collect the overdue installments in payment with the default
interests which will be calculated according to the default interest rate which is stated
in the last paragraph of the article 2.1.2 of this contract until the last payment date by
means of notifying to the Buyer and to continue the contract accordingly but also to
terminate this contract without need of taking any other decision for this. In case the
contract is terminated by the Authority, then the provisions of the 7th article of this
contract are applied.
In case the Buyer falls in default in paying at least two consecutive installment from
the installments which it is obliged to pay after making the mortgaged title transfer of
the mentioned immovable property which is subject of the contract on behalf of the
Buyer or in case the total amount of the unpaid installments is more than one tenth of
the sales price, then the entire debt becomes immediately payable. The 7.2nd article
of the contract is applied.
When the conditions of becoming immediately payable are formed, the Authority
gives at least one week period of time and makes warning notice of being
immediately payable to the address of the Buyer.
When the debt becomes immediately payable, the Buyer agrees and undertakes to
pay the debt which is made immediately payable as a consequence of adding the
default interest amount to be calculated to be applied separately for each month and
on 30% more of the default interest rate in force which is determined by the Ministers
Council depending on the power granted to the Ministers Council with the fourth
clause of the 51st article modified with the Law dated 25.12.2003 and numbered 5035
of the Law about the Collection Procedures of the Public Receivables numbered
6183 in the delays which may take place in the installment payments which should be
deposited in term and takes part in the first clause of the same article for the period in
which the debt became immediately payable.
3. DELIVERY AND USAGE OF THE IMMOVABLE PROPERTY:
The immovable property will be delivered within thirty (30) days beginning from the
date of arrangement of this Immovable property Sales Contract together with a
delivery report to the Buyer. In case the Buyer does not take delivery of the
immovable property within the period which is stated in the delivery notification, then
it is considered delivered as of the date of the notified delivery notification date.
The buyer is considered saw and accepted the immovable property in its present
condition in the frame of the matters which are stated in the Immovable property
Determination and Delivery Report and could not make any request of change or
right and receivable concerning this situation.
The buyer uses the immovable property delivered with the rights and powers of
owner. The buyer does not make any payment to the Authority (except for the taxes
and other expenditures) against this usage.




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4. TRANSFERRING THE PROPERTY TO THE BUYER:
4.1. The Authority will deliver the possession of the immovable property which is sold
in advance to the Buyer in accordance with the related provisions of the Turkish Civil
Code following the payment of all of the debts payable to the Authority by the Buyer
in the frame of the related regulations. (It will be transferred in 30 days beginning
from the payment.)
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4.2. The mortgaged title deed will be given within thirty (30) days period of time with
interest by means of taking as basis the interest rate which is applied to the current
monthly time deposits by the Republic of Turkey Ziraat Bankası A. . in which the
Authority accumulates interests (the interest rate of Republic of Turkey Ziraat
Bankası A. . of that day will be taken as basis, on the condition it will not be less
than the interest rate which is valid as of the date of this Contract) and for 24 months
term on the mentioned immovable property for the remainder debt upon the written
application of the Buyer after the payment of 20% prepayment which is stated in the
2.1.2. article of the Immovable property (Land) Sale Contract pertaining to the
immovable property which is sold in term. In case the mentioned debt is paid in full by
the Buyer, the mortgage which is established in favor of the Authority will be
removed.
The title deed, circulating capital outlay and mortgage outlay and the special
transaction taxes etc. expenditures which should be paid in accordance with the laws
relating to the transfer will be paid by the parties in proportion with their legal
obligations.
5. TRANSFER POWER OF THE BUYER:
5.1. The Buyer that the mortgaged title transfer is not made could transfer its rights
arising from this contract to the third persons in case it is considered appropriate by
the Authority. It is obliged to pay completely all of the debts such as the real estate
taxes and the unpaid installments if any as of the date of transfer belonging to the
transferor during the transfer transaction. The transferee third person also takes
transfer of the rights and obligations which take part in this contract as owned by the
transferor.
The transfer protocol will be signed before the notary public by the parties in the
transfer transactions. The original copy of the contract with the Buyer will be returned
to the Authority by the Buyer in the transfer transactions.
All kinds of obligations arising in the name of the owner because of the regulatory
changes which will be realized after the delivery of the immovable property will
belong to the Buyer.
5.2. The buyer for which the mortgaged title deed transfer is made does not have any
return and debt transfer power for the immovable property.
6. TAXES, OUTLAYS AND OTHER EXPENDITURES OF THE IMMOVABLE
PROPERTY:
All kinds of contractual expenditures, outlays and dues relating to the sale of the
immovable properties will be paid by the Buyer.
The real estate declaration will be given by the Authority until the property is
transferred to the Buyer, and the taxes accrued including the year in which the title
deed registration is realized in the name of the Buyer and the year in which the
contract is signed will be paid to the Administration by the Buyer. In case there will be
any delay in the payments, the Buyer agrees and undertakes to pay the default
interest which will be calculated by means of using the default interest rate which is
stated in the article 2.1.2 of this contract.


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In addition to this, all of the obligations arising in the name of the owner because of
any regulatory change will belong to the Buyer until the realization of the mortgaged
title deed registration or until the title deed transfer is made for the mentioned
immovable property.
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7. TERMINATION OF THE CONTRACT:
7.1. If the Buyer fails to perform its obligations arising from the contract or from the
laws and even if it performs within twenty (20) days beginning from the date of the
warning notice, in spite of the written notification of the Authority, if this situation is
repeated for twice in a calendar year, then the Authority is entitled to terminate this
contract. In this event, the Authority reserves the right to request compensation /
interest without need of any official warning beginning from the date of occurrence of
the violation of the contract.
In case of termination of the contract by the Authority, the Buyer will return the
immovable property as purchased and without any manufacturing work for the
purpose of settlement on it, and it is obliged to give the approved plan copy
concerning whether any change is made in the development plan or not relating to
the immovable property and the plan notes to the Administration. The Authority
returns to the Buyer except for the deposited participation prices, 4% performance
bond amounts, stamp tax, contract decision stamp tax, taxes and similar other
expenses arising from all of the obligations from the payments which are incurred by
the Buyer until the date of termination. No interest accrues for the payments which
are made until the date of termination of the contract by the Buyer. All of the
expenses arising during the return of the immovable property will be covered by the
Buyer.
7.2. In case the Buyer who is given the mortgaged titled deed certificate fails to pay
the debt in case the debt becomes immediately payable as a result of formation of
the matters which are stated in the article 2.7. of the contract, the mentioned
immovable property for which the mortgage is established will be sold and after the
debt which becomes immediately payable is deposited into the account of the
Authority the remainder land price will be returned to the Buyer.
7.3. In case of termination of the contract, the Buyer is obliged to deliver the
mentioned immovable property to the Authority within thirty (30) days period of time.
(Except for one for which the mortgaged title deed transfer is made.)
8. CONTRACT CHANGE
Whenever it is considered necessary to make change in the provisions of the
contract or to add a new provision because of absence of provision in the contract,
then the necessary change could be made by means of arranging the agreement text
with the mutual agreement of the parties.
9. FINAL PROVISIONS
9.1. The Buyer declares, agrees and undertakes in advance that it examined the
sales conditions which are stipulated in this contract, carefully read the provisions of
the contract and understood them all completely.
9.2. The Authority considers its address in this contract as the legal residence of the
Buyer.
The notifications to be made to this address will be considered made to the Buyer
and binds the Buyer unless the address change is notified in written to the Authority
by means of return-registered postage on the condition of being within the
boundaries of Turkey.



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9.3.The expenditures of this contract belong to the Buyer.
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9.4. Ankara Courts and Execution Offices are authorized in case of disagreements
and disputes between the Authority and the Buyer.
9.5. The activity address of the Authority is Bilkent Plaza B1 Blok 06800
Bilkent/ANKARA.
9.6. This contract is composed of one (1) copy and six (6) pages between the parties,
and it is signed and comes into force on the date ...../...../2008.
TURKEY HOUSING DEVELOPMENT ADMINISTRATION PRESIDENCY BUYER
On its behalf
.....................................................
(*) All of the information belonging to the buyer will be completed fully and completely.
(*) NAME SURNAME/TITLE:
......................................................................................
STREET ADDRESS:
......................................................................................
TURKISH REPUBLIC IDENTIFICATION NUMBER:
......................................................................................
(*) TAX OFFICE / TAX NUMBER:
................................./....................................................
TELEPHONE NUMBER BUSINESS/ HOUSE:
................................./....................................................
FAX NUMBER:
......................................................................................
CELL NUMBER:
......................................................................................
E-MAIL ADDRESS:-
......................................................................................
Papers which are appendixes of the contract:
-If it is a company then power of attorney and trade registry gazette. (notary public
approved)
-Pertaining to the amount which is paid by the buyer; (Bank Receipt concerning 20%
in the term sales, full amount of the immovable property price in the in-advance sale)
-In the multi-shareholder (share) purchases, the Undertaking stating the share rate
(Notary public approved).
-Land Delivery Report. (Original copy)
-Map




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