The purpose of this project is to start the preparation process of the development project, including re-designing construction design, geotechnical research works and topographic survey.
On September 2017 private person Janis Timma from JSC Latectus, a subsidiary company of JSC SEB Bank, bought land plot in Riga, Dzohara Dudajeva gatve. After consultancies with Riga City Construction Council and architect Aivars Kagainis, a decision was made to re-design project intended for this land plot since previous project edition was not sufficiently effective from cost and usable aspect.
Before the funds collected under the Crowdestor platform will be released to the Borrower and as a condition for such release, the Borrower will procure that the Object (Land Plot located on Dzohara Dudajeva gatve, Riga (cadastral # 0100 071 2102)) will be registered in the name of the Borrower, and Janis Timma will be the sole shareholder of the Borrower after such ownership acquisition. Also, the Land Book registry will contain an entry of note of prohibition for the benefit of Crowdestor Security Agent OÜ (prohibition to transfer, encumber, as well as hamper the unity of the Land Plot without permission of the Collateral Agent).
The loan will be repaid from the sale of the property or refinancing by a long-term bank loan.
Construction design: 9’000 EUR
Geotechnical research works: 3’300 EUR
Topographic survey: 2’000 EUR
Others: 700 EUR
New construction design will be done by architect Mr. Kagainis who is one of the best residential building architect in Riga. One of his last projects are Gailezera nami (http://merks.lv/en/projekt/gailezera-nami/). Gailezera nami are in the same district where Dz. Dudajeva project is planned.
Land plot located at Džohara Dudajeva gatve, Riga, Latvia, land plot cadastral #0100 071 2102, enrolled in subsection #8602 of the Riga City Land Book Registry Division (www.kadastrs.lv).
The size of the plot: 1655 m2
Cadastral value according to the Land Register: 79’946 EUR
Target: EUR 15 000,00.
Loan term: 3 months.
Interest rate: 15% per annum.
Interest payments: paid monthly
Loan repayment: In full at the end of the Loan Term.
Prohibition (in part or as a whole) to alienate, assign, transfer; charge, mortgage, lien; divide or join to another land plot, without written permission of the Collateral Agent. This prohibition is being corroborated (enrolled) in the Land Book as a special prohibitory note legally binding to all third parties (“aizlieguma atzīme” – in Latvian).
Collateral Agent: Crowdestor Security Agent OÜ
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