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| | Due Diligence Documentation "Exhibit L-3"
Project Tenants-In-Common Fractional
Syndication Contract
The following notes
are provided pertaining to this exhibit:
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What: the
syndication of the equity interests in the proposed Project by the Sponsor
entity must be undertaken pursuant to two (2) real estate property purchase
agreements, to wit:
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A purchase
contract by and between Real Estate Plays Dot Com, LLC and the Sponsor
whereby Sponsor agrees to sell a defined interest to Real Estate Plays
Dot Com, LLC (or Assignees); and
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A purchase
contract by and between Real Estate Plays Dot Com, LLC and the
Syndication subscribers who are seeking to purchase one or more
fractional real estate ownership interests in the resulting Project.
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When: the
agreement is undertaken upon completion of all required due diligence
exhibits and subject to our legal counsel's review.
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Why: all
transfers of ownership interests to the public must be in the form of real
estate purchase agreements for fractional tenants-in-common ownership
interests.
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Where: these
documents are kept by the Developer as electronic files.
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How: The
Sponsor (or Developer/Sponsor, as the case may be) has their legal counsel
prepare the draft proposals for the review and approval by Real Estate Plays
Dot Com, LLC in its sole judgment.
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What's important: the
contracts are legally binding on the parties and the interests can be
transferred to the subscribers upon closing without any undue effort or
expense.
For more information, please contact us at 832.659.5009 or via email at info@realestateplays.com.
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