A Promise To Buy

A promise to buy This Document, dated 22 April 2008, constitutes Agreement between

•

REHAB REAL ESTATE DEVELOPMENT, a legal company registered in Cairo with commercial registration number 569882 of address PO BOX 182738, Cairo, Egypt, hereinafter referred to as “Rehab,” And

•

Mr. Shawkat Bustani, hereinafter referred to as the “Owner”

Rehab will purchase the following property for an amount of $831,000 USD from the owner on May 1st, 2009, and payment must be made within 30 days of May 1st, 2009. Units (1304, 1305, and 1306), a total of 1666.32 sq ft of residential space in the Rehab Residence located in the Nasr City, Cairo, Egypt. In view of the above, an understanding has been reached between both parties as follows to govern the time period from now until April 30th, 2009.

1. Rehab becomes the exclusive agent of Units (1304, 1305, and 1306), residential space for the 2. 3. 4. 5.

Owners. No other party, including the Owners, has the right to sell these during this time period. Rehab has explicit permission from the Owners to sell Units (1304, 1305, and 1306) for an amount greater than or equal to $831,000 USD. If Rehab sells Units (1304, 1305, and 1306) for an amount greater than $831,000 USD, the difference between the sale price and $831,000 USD will belong to Rehab as commission for the sale. Upon sale of Units (1304, 1305, and 1306), Rehab must pay $831,000 within 30 days after the sale to Mr. Shawkat Bustani. Rehab has the right to transfer the Owners’ ownership of Units (1304, 1305, and 1306) to other units in the Rehab residence of equal value. Value is determined by floor level and total square feet per unit. Note that there is a $2 USD per square foot increase for each floor level and each view is priced differently. “Pre launch” prices will be used to assess value for consistency. If ownership is transferred to a new unit(s), the above four rules will apply to the new unit(s) and Rehab will notify the Owners within thirty days. Also, if ownership is transferred to a new unit(s), Rehab will purchase the unit(s) owned by the Owners for an amount of $831,000 USD on May1st, 2009

Signed for: Rehab Real Estate Development: _________________________________

Owner: ____________________________

Date: ____________________________ Name: ___________________________

Date: ____________________________

Sale Contract Rehab Residence At Nasr City Cairo, Egypt

A.

INSTRUCTIONS

1. Fill in the sale contract using block letters. All details must be clearly legible. 2. Please read the terms & conditions carefully before filling in the sale contract. 3.

Please attach:

For individuals – Passport Photocopy For Corporations – Trade license photocopy & authorized signatory's passport photocopy.

2

B.

DETAILS OF THE PARTIES

Seller: Purchaser:

C.

Rehab Real Estate Development Mr. Shawkat Bustani

PROPERTY

Unit Number/s: 1304, 1305, and 1306 Type: Residential Floor Number: 13 Approximately Floor Area: 1304: 552.22; 1305: 561.88; 1306: 552.22 Permitted Use: Residential

D.

PURCHASE PRICE:

Purchase Price of Unit/s:

1304: $178,000 USD; 1305: $180,000

USD; 1306: $190,000 USD Total Purchase Price: $548,000 USD

E. Purchase Price Payment Plan The purchaser will pay the total purchase price as shown above upon signing the contract. The purchaser will transfer the money to the seller bank account. Seller Bank Details Bank Name: Account Number: Account Name: Rehab Real Estate

Branch: Swift Code: Reference: Rehab Residence

3

TERMS AND CONDITIONS a) The Seller is the owner of the units situated therein, and has rightfully reserved ownership from the developer. b) If the developer cancels the project, the Seller will refund the original purchase price to the Purchaser within 30 days after cancellation. c) Force Majeure: The Seller shall not be liable for any failure or delay to perform its obligations due to causes beyond its reasonable control including but not limited to: (a) war and other hostilities and (b) earthquake, flood, tempest, and other natural disasters. This is provided the Seller gives to the Purchaser a written notice within thirty days indicating the beginning of such circumstances. The anticipated completion date shall be extended for a period equal to that during which such circumstances exist. c) The square footage of each unit may change up during construction. The purchase price of the building will be readjusted if the square footage is changed

Signed on this: Purchaser:

Seller:

Name: Date:

Name: Date:

4