BASES for PARTICIPATION IN THE PROMOTION

PLAYA, SOL & SEAVIEWS group, with office in Avenida Mediterráneo 24 2C, 46910 Sedaví (Valencia), and made up of the following companies:

  • Inversiones Mar Azul Playa Estepona, S.L. B-87.158.515
  • Inversiones Sotoserena Playa Estepona, S.L. B-87.158.838
  • Inversiones Flamingos Playa Benahavis, S.L. B-87.158.820
  • Inversiones Monte Halcones Sol, S.L. B-87.292.769
  • Inversiones Casares del Mar, S.L. B-87.292.785
  • Inversiones Alcaidesa Sol, S.L. B-87.292.777
  • Inversiones Alcaidesa Seaviews, S.L. B-87.402.293

(hereinafter referred jointly as “LIFESTYLE HOMES”), organizes the promotion “Ready to Enjoy” or package of provision of furniture and equipment, which shall be governed by the provisions of these rules.

The party to this Promotion expressly and with no reservation accepts these rules of participation. Any default hereof shall result in the non-admission or cancellation as a party to the Promotion.

Purpose of the Promotion

The purpose of the Promotion is to promote the sale of real estate property of LIFESTYLE HOMES in Spain.

Free Nature of the Promotion

This promotion is free of charges, so that the participation in it does not involve the payment of any premium nor disburse any amount for participating, in addition to the value of the purchase so made.

Territorial Scope and Duration of Promotion

This Promotion shall apply to the acquisition of each of the first 50 real estate properties of LIFESTYLE HOMES in Spain during the period between 1 August 2017 to 30 September 2017 inclusive.

Requirements and Conditions of Promotion

The requirements for earning the award are:

  1. to be of legal age or, in the case of several purchasers (hereinafter exclusively referred to in the singular), that one of them shall be of legal age;
  2. to comply with the criteria of suitability established by LIFESTYLE HOMES for the purchase of the relevant property;
  3. to purchase, within the term of duration of the promotion, one real estate property from LIFESTYLE HOMES in an amount higher tan €150,000 at the price of the existing sales rate upon the purchase;
  4. to agree to these bases of participation.

Only for the purposes of the term of implementation of the promotion, it shall be deemed that the purchase is made upon the signing of the earnest money contract and the deposit of the relevant security amount, but there shall not be any right to promotion award until full payment and final formalization of the purchase of the property which should be made not later than 60 days from receipt of the deposit. If after this period no formal arrangement is made, it shall be deemed that there is no right to the promotion award.

The value referred to in subparagraph “c” is the net value of the property excluding taxes, fees and costs of formalization of the purchase including notary public and registry costs.

This promotion is not cumulative to any other type of promotion or discount of any kind.

The promotion is limited to a maximum of 50 properties and it shall be applied to any purchasers of the first 50 properties of PLAYA-SOL-SEAVIEWS GROUP within the period specified above.

If upon the end of the promotion period the number of purchases has been less than 50, the promotion shall be automatically adjusted to the number of transactions actually carried out without any obligation of extension of the promotion by LIFESTYLE HOMES.

LIFESTYLE HOMES reserves the unilateral right not to apply the Promotion to any purchasers who shall fail, in the opinion of LIFESTYLE HOMES, to comply with these bases.

Award

The award consists of a complete package of furnishing and household equipment, valued in an average amount of €11,000. Both the equipment and the value thereof are variable depending on the type of housing and the real estate project in which it is included, so that the commercial team in each of them shall inform the client of the exact details.

The award includes the furniture, equipment and transportation and installation costs in the property.

The term of delivery shall be the period of time offered by the supplier for delivery of the furniture, and LIFESTYLE HOMES shall not be liable for it. The order of furniture to the supplier by LIFESTYLE HOMES shall be issued only after the purchase transaction had been made by the execution of the deed of sale.

LIFESTYLE HOMES reserves the right to modify the award specified above, provided that the value and features of the modified award are similar to those specified in these bases.

Communication Media of the Promotion

The public media of this Promotion shall be the web site of LIFESTYLE HOMES and any specific campaigns that LIFESTYLE HOMES may promote by any media or support including both traditional and electronic media.

Acceptance of Award

The acceptance of the award shall be upon the implementation of the purchase of the real estate property which is the origin of such award.

The award is personal and non-transferable and shall be given exclusively to the person who appears as the owner of the property so acquired.

At the discretion of the recipient of the award, he or she may elect to receive a discount on the purchase price of the property in an amount equivalent to the value of the award specified in these bases. The option to receive the discount on the price shall not be possible after LIFESTYLE HOMES had made the order for the furniture to the supplier. This discount shall be made directly on the property price after previous waiver to the award by the client.

In case of non-acceptance of the award, LIFESTYLE HOMES must be notified in writing.

Tax Consequences of the Award

The award shall be subject to tax withholding (IRPF (Income Tax) Act, article 101.7 and IRPF Regulations, articles 75.2 and 75.3 f), and for that reason the relevant company of those listed above shall make at the Tax Agency the required payment on account of the Income Tax in favour of the winner.

The amount to be paid shall result from applying 19% to the market value of the award increased by 20%, equivalent to €2,508.

The payment of the Income Tax for the earned award is an exclusive obligation of the recipient of the award, so he or she should include in the taxable basis of his or her Income Tax return the valuation of the award (€11,000) plus the payment on account (€2,508).

In the event that the award winner elects to receive the award in cash (equivalent to Euro 11,000), the withholding tax of 19% shall be applied directly over the monetary amount mentioned above. The award in cash shall be paid by deducting an amount of Euro 11,000 from the payments for the price of the property; the 19% withholding shall be paid to the Tax Agency in favour of the winner.

The company that owns the property shall issue the mandatory certification where these items shall be set out.

In the event that the buyers of the property are more than one person, the withholding and certification mentioned above shall be distributed in equal amounts to each one of them.

Image Rights of the Winner.

The recipients of the award assign freely to LIFESTYLE HOMES the use of their image and/or voice (both by fixed photograph and by an audio and/or audiovisual recording thereof), which LIFESTYLE HOMES may publicly reproduce, distribute, transform and display, as well as use and disseminate their names and surnames as winners, in any advertising and/or promotional activity related to this promotion, all of the above in any medium without such activities entitling the winners to any remuneration, compensation or economic benefit with the exception of the delivery of the earned award in accordance with these rules. The present assignment has no limitation of time or territory.

Governing Law and Jurisdiction

These bases are governed by Spanish law, and all parties, expressly waiving any other jurisdiction that may have available, for any litigation or conflict regarding the legal bases, shall be subject to the jurisdiction and competence of the Courts and Tribunals of Valencia.

In case of any discrepancy between any information published by LIFESTYLE HOMES in any media and these bases, the provisions of these bases shall prevail.

These legal bases have been originally written in Spanish, and in case of any conflict between these bases and the translation thereof into English or any other language, the original text in Spanish shall prevail.

Legitimation of the Bases of the Promotion

These bases are legalized, notarized and deposited before the Notary Public of the Association of Notaries of Valencia, Mr Javier Máximo Juarez. Additionally, the full text hereof is available on the web site www.lifestylehomes.es, and in the Electronic Notarial Archive of Contest Bases (ABACO), accessible on the web site www.notariado.org/liferay/web/notariado/e-notario/abaco/concursos-en-vigor .