The aim of the Project is to fine-tune and foster the currently undergoing works in the development stage of the land plot so that an actual building permit is issued by the municipality.
Real estate development project for the land plot located at Tomsona iela 6, Riga, Latvia, land plot cadastral # 0100 024 0153, enrolled in subsection # 7832 of the Riga City Land Book Registry Division. With the marketability of the final outcome in mind, the aim is to commission and arrange for improvements of the currently prepared land plot Development Sketches (commissioned by the owner, and providing for a construction of a residential building).
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.
Target: EUR 60 000,00.
Loan term: 9 months.
Interest rate: 12% 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
Land plot located at Tomsona iela 6, Riga, Latvia, land plot cadastral # 0100 024 0153, enrolled in subsection # 7832 of the Riga City Land Book Registry Division (www.kadastrs.lv).
The size of the plot: 705 m2
Purchase value according to the Land Register: 134’500 EUR
Current pledges: none
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