Each buyer can own their home outright and sign an individual 30 year land leases which include the right to use the common areas in the project together with the other Lessee’s. Each buyer also gets two options to renew for a further 30 years on each renewal at no cost. All leases are with Luna Phase One Company Ltd. a Thai company which is the owner of the Luna Project lands.

The buyers also receive shares in Top East Co. Ltd. a Hong Kong corporation which owns the controlling interest in Luna Phase One Company Ltd.
At the completion of the project all shares of Luna Phase One Owners Corporation will be owned by the lessees in the project effectively giving them total control for renewals and collectively controlling the freehold of the development.

The first step is to select the Leased plot and Villa.

To secure your choice you will be asked to sign a Reservation Agreement and to pay a reservation fee of 2% of the purchase price

In order to proceed you will then sign the following contracts within one month:

1. A 30 year lease of the land with options to renew for a further two terms of 30 years each giving a total of 90 years.

   Contained within this lease will be the right to use all common areas and an undertaking to maintain both the leased land and your own Villa and to pay your share of the maintenance of the common areas and services.

   The signed Lease Contract is then registered with the Land Department in your own name giving you total security over the land upon which your Villa is constructed .

2. An agreement to subscribe to the shares in the offshore company, the shares being transferred when the project is complete which effectively gives control to the Lessees over the land ownership and any and all renewals of the lease and all common areas.

3. A Villa Purchase Agreement whereby the developer agrees to deliver the Villa as contracted .

4. A Maintenance Agreement with respect to the common areas and
   services to be provided.

5. The Estate Rules

The ‘Purchaser’ agrees to make Progress Payments to the ‘Vendor’ as follows:

First Mobilization Payment: To be paid upon the signing the contracts and no later than 30 days from the date of execution of the Reservation Agreement, said 30 day time period can be extended by mutual consent of the parties hereto but it is mutually agreed and understood that any aforementioned agreement to extend shall not exceed 90 days from the date of execution of the Reservation Agreement. This Payment shall be twenty five per cent (25%) of the purchase price plus any variations agreed to by the parties.

Second Payment: To be paid when the Project Manager certifies that the foundations and beam works are complete. This Payment shall be twenty five per cent (25 %) of the purchase price plus any variations agreed to by the parties.

Third Payment: To be paid when the Project Manager certifies that the roof structure is complete. This Payment shall be twenty per cent (20 %) of the purchase price plus any variations agreed to by the parties.

Fourth Payment: To be paid when the Project Manager certifies that roof tiles work and purlins are complete. This Payment shall be ten per cent (10 %) of the purchase price plus any variations agreed to by the parties.

Fifth Payment: To be paid when the Project Manager certifies the completion of the door and window installation work. This Payment shall be ten per cent (10 %) of the purchase price plus any variations agreed to by the parties.

Sixth Payment: To be paid when the Project Manager certifies the completion of the electrical and plumbing work, floor finishes, sanitary fixtures, landscape and final clean up ready for occupation. This Payment shall be ten per cent (10 %) of the purchase price plus any variations agreed to by the parties.