Cozumel Frente A La Playa De Propiedad

PREPARTORY REAL ESTATE SALES CONTRACT 1.

PARTIES:

This contract (“Contract”) is made between

Troy Becerra Palma

(“Seller”),

and Randall Wayne Smith

(“Buyer”).

2.

Effective Date: This Contract is effective as of the date of acceptance on the signature page of Contract.

3.

PROPERTY: The Seller agrees to convey the property (“Property”) known as

commonly

Playa Tormentos, with 150 meters of water frontage, on the island of Cozumel, Mexico. Seller agrees that Property is and will be current in all its fiscal obligations and free of any leans or encumbrances. 4.

TITLE: Seller will deliver the possession and legal ownership of the Property to Buyer at time of closing, formalizing such transfer before a notary public. Notary public will hold title until payment in full is made.

5.

PURCHASE PRICE: $4,000,000.00 USD (Four-Million United States Dollars), a sum that both parties have agreed to be fair and legitimate.

6.

FORM OF PAYMENT: The agreed purchase price will be paid to Seller as following: Conditional deposit of $100,000.00 USD (One-Hundred- Thousand United States Dollars) escrowed with Stewart Title within 20 (twenty) working days of signing of Contract by both Seller and Buyer. Balance to be paid in full by Buyer at Closing.

7.

CLOSING:

Closing will be on or before: June 30, 2009

_______________________________________________________________________ Buyer (or agent) Date

_______________________________________________________________________ Seller (or agent) Date

CONTRATO PREPARATORIO DE COMPRA VENTA DE BIENES RAICES 1.

PARTES:

Este contrato (en lo subsecuente “Contrato”) se celebra entre

Troy Becerra Palma

(“Vendedor”)

y Randall Wayne Smith

(“Comprador”)

2.

Fecha:

Este Contrato es válido a partir de la fecha de la firma de este Contrato.

3.

INMUEBLE: El Vendedor se compromete a transmitir la propiedad conocida como Playa Tormentos con 150 metros de frente de playa en la isla de Cozumel, México El Vendedor se compromete que la propiedad estará con el pago de impuestos al corriente y libre de deudas y gravámenes.

4.

TITULO: El vendedor se compromete a entregar la legal posesión de la propiedad al comprador en el momento del cierre de la venta, formalizando dicha transferencia ante un notario público. El notario no entregará el título correspondiente hasta que la cantidad acordado haya sido totalmente liquidada.

5.

PRECIO: $4,000,000.00 USD (Quatro millones USD), cantidad que ha sido pactada entre las partes y que ambos consideran justa y legítima.

6.

FORMA DE PAGO: El precio de compra acordado será entregado al Vendedor de la siguiente forma: Un depósito sujeto a condiciones de $100,000.00 USD (Cien mil USD) depositado en custodia con Stewart Title dentro de 20 (veinte) días hábiles después de la firma del presente Contrato por ambas partes. El saldo pendiente será liquidado en su totalidad por el Comprador en el cierre de la venta.

7.

Cierre: El cierre será antes de o en la fecha: 30 de junio del 2009.

________________________________________________________________ Comprador (o representante) Fecha

________________________________________________________________ Vendedor (o representante) Fecha

Exhibit A: Disbursement Instructions (Anexo A: Instrucciones de Desembolso)

i)

Seller to provide to Purchaser (or Purchaser’s agent and verified by Stewart Title) the following documents relating to subject property: 1)

Title (Titulos de la propiedas)

2)

Cedula Castral

3)

Property Tax receipt 2008 (Pagos de Impusto Predial al Corriente 2008)

4)

Federal Zone Receipt 2008 or Concession (Pagos de Derechos de Concesion de Zona Federal Maritima al Corriente 2008)

5)

Certification of Measures (Certificacion de Medias y Colindacias)

6)

Plat Plan of property issued by Castastro (Plano Castastral Emitido por la Oficina del Catastro)

Escrowed funds to be disbursed within 10 business days of satisfactory delivery and verification of above 6 documents. ii)

One disbursement of $100,000.00usd.

iii)

Payable to: Troy Becerra Palma

iv)

Non-refundable deposit to Seller, applied to purchase of property in Cozumel.

v)

Wiring information: JP Morgan Chase Manhattan Bank, New York 1 Chase Manhattan Plaza New York, New York 10005 ABA: 021000021 Payable to: Scotiabank and Trust Cayman LTD 6 Cardinal Ave, 3rd Floor Scotiabank Building Georgetown, Grand Cayman CTA. No. 544711476 To the name of Troy Becerra Palma, Acct: 92099837