Juristic Person. Viewtalay Jomtien Condominium (1999)

Transcription

1 ViewTalay 2 A Regulations.doc Juristic Person of Viewtalay Jomtien Condominium (1999) 1 of 18

2 Regulations of Viewtalay Jomtien Condominium (1999) Juristic Person Chapter 1 General Provisions Article 1. This Regulation called: The Regulation of Viewtalay Jomtien Condominium (1999) Juristic Person and this Condominium Juristic Person called Viewtalay Jomtien Condominium (1999) Juristic Person which has been written in English as VIEWTALAY JOMTIEN CONDOMINIUM (1999) JURISTIC PERSON Article 2. In this Regulations:..... Condominium means Viewtalay Jomtien Condominium (1999) registered pursuant to the provisions of the Condominium Act B.E Condominium Juristic Person means Viewtalay Jomtien Condominium (1999) Juristic Person. Committee means Committee who control the management of Condominium Juristic Person. Manager means Manager of Condominium Juristic Person. Co-Owners means an individual person or juristic person having the ownership in the unit of Condominium. Common Property means a part of Condominium which is not a unit, the land in which the Condominium is situated and the land or other property available for the common use or benefit of the Co-Owners. Article 3. The Office of the Condominium Juristic Person located at 433 Moo 12, Tappraya Road, Nongprue Sub-district, Banglamung District, Chonburi Province. Article 4. Regulations These Regulations shall be enforceable since the date of registration of the Condominium Juristic Person. Any amendment in these Regulations can be made by the conclusion of the Co- Owners in a General Meeting under the provisions of the law of Condominium and these Regulations shall be effected when it has already been registered in the presence of officer. Article 5. Meaning of Regulations of Condominium Juristic Person These Regulations of Viewtalay Jomtien Condominium (1999) Juristic Person including the Regulations of this Condominium Juristic Person which has been subsequent amendment and also the notification, order and practice which shall be enforced by the declaration of the Manager of the Condominium Juristic Person. Article 6. Enforcement of the Regulations of Condominium Juristic Person The Regulations of the Condominium Juristic Person shall be enforceable upon all Common Property and Private Property in the Condominium presently existing and which may exist in the future. Article 7. Effect of the enforcement The Regulations of the Condominium Juristic Person shall be enforceable upon all Co- Owners, mortgagees, lessees, agent, occupants, servants, visitors or any person which the Condominium is available for benefit of them with whatever forms. Acquisition of unit by any 2 of 18

3 person with whatever ways or with the lease of the unit in the Condominium or only take possession any part of Condominium is held that such person accepts to give the ratification and agrees to comply with the Regulations of Condominium Juristic Person. Owner of unit has the right to use or take benefit on the common Property in accordance with the law and may assign to other person such right for use or take benefit on the Common Property for him and the right to use or take benefit on the Common Property of such owner of the unit is terminated as long as the right has been assigned to other person. Article 8. In case of the terms has not been defined in the Regulations In case of the terms has not been defined in the Regulations, the provisions of the law of Condominium and other relevant law shall be applied mutatis mutandis. Article 9. Authority and Responsibility of Co-Owners Co-Owners and/or person who are allowed to use the unit by Co-Owners shall use the benefit of unit with the following details: 9.1 Office, i.e. the unit no. 433, shall be used as an office only st floor no 433/l-55, residential and commercial units without any activities against the tranquility and good morality of the people. 9.3 For the residence, i.e. the unit no. 433/ shall be used for residence only. Chapter 2 Objective Article 10. Objective of the Condominium Juristic Person Subject to the Regulations of Viewtalay Jomtien Condominium (1999) Juristic Person and the provisions of the law of Condominium, this Condominium Juristic Person has the objectives of acting as an agent and on behalf of all Co-Owners in the Viewtalay Jomtien Condominium (1999) for the following activities concerning to the Condominium Juristic Person: 1). To manage in any manner for the safety of the Condominium and other services. 2) To keep, maintain, repair, alter, add, modify the common property presently existing and which may exist in the future in the condition that the Co-Owners may regularly make use of or be in accordance with the resolution of the Co-Owners meeting. 3) To enter into any legal acts in order to be in accordance with the objectives of the Condominium Juristic Person as well as the benefit of all Co-Owners pursuant to the resolution of the Co-Owners meeting. 4) To sue or prosecute a suite concerning to the activities of the Condominium Juristic Person, compromise and also exercise the right in any claim. 5) To contact any government agencies, municipalities or other organizations, any relevant individual or juristic person in order to be in accordance with the objectives of the Condominium Juristic Person. 6) To collect the expenses, fund and any other money which may be paid by all Co-Owners and to manage about the deposit and allocation of money. 7) To do any acts for the purpose of the objectives of Condominium Juristic Person and the provisions of the Law of Condominium. Chapter 3 Private Property and Common Property. Article 11. Private Property Private Property means a unit and any construction or land allocated as the property of each owner of that unit. 3 of 18

4 Article 12. Common Property Common Property means parts of the Condominium excluding the units or parts of private property. Article 13. All Co-Owners of unit have the ownership in the Common Property including: 1) The land on which the Condominium is situated. 2) Any land provided for the common use or benefit of the Co-Owners. 3) Any structure of and any construction for the strengthening of and prevention of damage to the condominium. 4) Any building or part thereof and equipment allotted for the common use or benefit of the Co- Owners. 5) Tools and facilities provided for the common use or benefit of the Co-Owners. 6) Any places that have been made available as common facility in the Condominium. 7) Any other property made available for the common use or benefit of the Co-Owners which presently existing or may exist in the future. Details of Common Property of the Viewtalay Jomtien Condominium (1999) Juristic Person must be in accordance with the attachment, attached hereto, and this is held to be one part of this Regulations. Chapter 4 Ownership Proportion in Common Property of each Co-Owner Articles 14. The ownership Proportion in Common Property of each Co-Owner The ownership Proportion in Common Property of each Co-Owner Owner shall be in accordance with the ratio that Co-Owner of each unit has the ownership in Common Property which is detailed at the time of the registration of the Condominium. Chapter 5 Manager of the Condominium Juristic Person Article 15. Appointment of the Manager of Condominium Juristic Person The Condominium Juristic Person shall have only one Manager who is an individual or a Juristic person. In case of the Manager is a juristic person, an individual shall be appointed as a substitution of the juristic person acting as the Manager. The Manager of Condominium Juristic Person shall be appointed by the resolution in the general meeting with more than a half of the vote of all Co-Owners. The appointment of the Manager referred to previous paragraph shall not be enforced in case of the first appointment of Manager of the Condominium Juristic Person according to the provisions of the law of Condominium. The person who has authority to appoint the first Manager of Condominium Juristic Person is the Board of the Viewtalay Jomtien Condominium (1999) Company Limited. Article 16. Powers and duties of the Manager of Condominium Juristic Person The Manager has the authority and duty of conducting all business affairs and activities of the Condominium Juristic Person in accordance with the law and these regulation and resolutions of General Meetings for the benefit of the Condominium Juristic Person and the Co- Owners, including the following matters: 1) Being the representative of the Condominium Juristic Person. 2) To perform and carry out any acts so as to be in accordance with the objectives of the Condominium Juristic Person, resolutions of the Co-Owners meeting or resolutions of the Management Controlling Committee of the Condominium Juristic Person without any opposition to the law and Regulations of the Condominium Juristic Person. 4 of 18

5 3) In case of necessity and urgency the Manager shall have the authority on his own initiative to manage affairs and activities for the safety of Condominium, in the same manner as a normal person would care for and manage his own property. 4) To ensure that all Co-Owners comply with the rules and Regulations of the Condominium Juristic Person and the resolutions of the General Meeting. 5) To convene the Co-Owners Meeting in order to consider and present balance sheets and annual reports showing the result of the operation and activities of the Condominium Juristic Person as well as to convene the Extraordinary Meeting of Co-Owners as specified in this Regulations. 6) To convene the Management Controlling Committee Meeting of the Condominium Juristic Person with presenting the report of interrogation explanations and/or giving the information and document concerning to the management of the Condominium Juristic Person as required by the Committee. 7) To provide documents which have been stipulated by the law to the related department and also to pay for taxes and duties. 8) To provide and keep the documents of the Condominium Juristic Person, operating equipment of the Juristic Person, income, and outcome account and also annual budget allocation presenting to the Committee as stipulated time. 9) To maintain, repair the place and building and also all parts of Common Property of the Condominium. 10) To sue, defend, or prosecute cases concerning to the business affairs of the Condominium Juristic Person or to make compromises or refer dispute to arbitration and also to appoint attorney and/or representative to carrying with such matters according to the resolutions of General Meeting. 11) To consider appoint and dismiss any staff or employees of the Condominium Juristic Person and to fix their remuneration with the agreement from the Management Controlling Committee of the Condominium Juristic Person. 12) The Manager of the Condominium Juristic Person has the authority to appoint the advisors of the Manager and to fix their remuneration with the agreement or setting of the Board. 13) To hire, purchase and provide the service of properties which are necessary to the management or of the Common Property or serve the Co-Owners with the agreement or setting of the Board. 14) To prescribe various procedure and regulations of the Condominium Juristic Person in accordance with the objectives of the Condominium Juristic Person and to supervise the make of use in unit with the agreement of the Board and without the opposition to the Regulations and resolutions of the General Meeting. 15) To facilitate the Board for convening the meetings and to make and to keep a record of Co- Owners. 16) To facilitate the delegate from the General Meeting of the Co-Owners or the Board Meeting. 17) To do other duties in accordance with provisions of the Law of the Condominium. The Manager shall perform his duties by himself except the business which shall be delegated to other person pursuant to the Regulations or resolutions of the General Meeting of Co-Owners. Article 17. Term of office of the Manager. The Manager shall hold his position for a term of 2 years. After the expiration of the said term of office, the Manager shall remain in office until the new Manager is appointed by the General Meeting of Co-Owners. The term of office of the Manager in the previous paragraph shall not be enforced to the first Manager who has been appointed by the board of director of the Viewtalay Jomtien Condominium (1999) Co., Ltd. And being in the position until the new Manager shall be appointed by the first General Meeting of Co-Owners. The Manager who completes his term or leaves his office is eligible for re-appointment. 5 of 18

6 Article 18. Ceasing to hold the position of Manager The Manager shall cease to hold office by virtue of the following circumstances: 1) Death 2) Being adjudged bankrupt. 3) Being insane juristic person or being adjudicated by a Court to be an incompetent person or a quasi incompetent person. 4) Being adjudicated by a Court with imprison sentence except for the petty offences. 5) Resignation byway of written letter to a General Meeting. 6) The General Meeting unanimously resolves to remove the Manager. 7) Being disappearance person pursuant to the Civil and Commercial Code. 8) The registration of juristic person has been cancelled or revoked pursuant to the Civil and Commercial Code. Article 19. The vacancy of the position of the Manager of the Condominium Juristic Person before the expiration of the term If the position of the Manager of the Condominium is vacant before the expiration of the term of office, the temporary Manager shall be appointed by the General Meeting until a new appointment shall be made. The temporary Manager shall convene the General Meeting to complete the appointment of a new Manager of the Condominium within 30 days since the date of the position is vacancy. The new appointed Manager shall be in the position with the remaining period of the former Manager of the Condominium. Article 20. Manager s remunerations The Remuneration of the Manager shall be in accordance with the resolutions of the General Meeting of Co-Owners. Article 21. Responsibility The Manager of Condominium is not responsible for any damages occurred from the Management of the Condominium Juristic Person pursuant to the resolutions of General Meeting of Co-Owners or the resolutions of the Management Controlling Board, subject to the Regulations of the Condominium Juristic Person except it is appeared that being dishonest action or having intention to cause damage or being careless. The Manager of the Condominium shall not be in the private responsibility pursuant to any contracts which have been made on behalf of the Condominium Juristic Person and with the limit of the authority specified in these regulations. Chapter 6 Management controlling Committee of Condominium Juristic Person Article 22. Appointment In the first General Meeting, after the Juristic Person has been registered, a group peoples for not less than 5 and not more than 9 shall be appointed by the majority of the votes of attended Co-Owners with the purpose of controlling the management of Condominium Juristic Person. The following person is entitle to be appointed as a member of Management Controlling Committee of Condominium Juristic Person: 1) Co-Owners or spouse of Co-Owners. 2) Just substitution, guardian or protector in case of the Co-Owner is a minor, incompetent person or quasi-incompetent person as the case may be. 3) Manager or other substitution of the Juristic Person incase of the Juristic Person is one of the Co-Owners. 6 of 18

7 Article 23. Power and duties The Management Controlling Committee of Condominium Juristic Person has the authority to control the management of Condominium Juristic Person of the Manager of Condominium in accordance with Regulations of the Management Controlling Committee of Condominium Juristic Person and resolutions of the General Meeting of Co-Owners and with the following powers: 1) To offer an individual or a juristic person to be appointed as the Manager of the Condominium Juristic Person. 2) To appoint the temporary Manager. 3) To consider, appoint, hire and fix the remuneration of the advisory, staff and employees of Condominium Juristic Person and also other person who has been appointed by the General Meeting. 4) To set the policy and regulations of Condominium Juristic Person without the opposition to the law and Regulations of Condominium Juristic Person. 5) To consider the allocation of money. 6) To check the management of the Manager of the Condominium Juristic Person. 7) To fix the remunerations of Manager of Condominium Juristic Person with the approval of the General Meeting. 8) To ensure that the Manager performs or carries out any activities and also making any legal acts which effected the responsibility to the Condominium Juristic Person without the opposition to the Regulations or resolutions of the General Meeting or related law. 9) To call for the General Meeting as specified in the Regulations or when the resolutions of the General Meeting is necessary. 10) To consider the matters, applications, problem and dispute of the Co-Owners via the Manager and presenting to the General Meeting for consideration if necessary. 11) To arbitrate that any acts to the private property effected damage to the construction, strength of Condominium, external condition of the Condo or the fire and damage protection system of the Condominium or any acts effected or damaged to the Common Property or the make of use of the Common Property or damaged to the Condominium or may change, add, alter the Common Property or any acts of such change, addition or alteration of Common Property or any acts of the Co-Owners and/or a person who make use of Unit and the followers which oppose or against to the rules and Regulations of the Condominium and to issue the order of prohibition or cancellation to do such acts in any cases. 12) To control, supervise or perform in accordance with the resolutions of the General Meeting or as specified in the Regulations. 13) To consider the make use of Fund of Condominium Juristic Person as in Article ) To consider and fix the additional amount of money which will be collected for the fund of the Condominium Juristic Person as in the third paragraph of Article 41. The Board of Director of the Viewtalay Jomtien Condominium (1999) Co., Ltd. shall use the temporary powers and duties until the Board as in Article 22. shall be appointed. Article 24. Term of Office Management Controlling Committee of Condominium Juristic Person shall resign from the position for every Annual General Meeting and the new Committee shall be appointed by the Meeting. The member of the Committee who completes his term or leaves his office is eligible for re- appointment. Article 25. Ceasing to hold the position of the Management Controlling Committee of Condominium Juristic Person The Member of the Committee shall cease to hold office by virtue of the following circumstances: 1) Death 7 of 18

8 2) Lack of qualification as specified in Article 22 (1)-(3) 3) Being adjudged bankrupt 4) Being insane juristic person or being adjudicated by a Court to be an incompetent person or a quasi incompetent person. 5) Resignation byway of written letter to a General Meeting. 6) The General Meeting unanimously resolves to remove the Manager. 7) Being adjudicated by a Court with imprison sentence except for the petty offences. 8) Being disappearance person pursuant to the Civil and Commercial Code. Article 26. The vacancy of the position of the Management Controlling Committee of the Condominium Juristic Person before the expiration of the term If the position of the Management Controlling Committee of the Condominium is vacant before the expiration of the term of office, the Extraordinary Meeting shall be held to appoint the new board within 15 days since the date of the vacancy of the position. The new appointed Management Controlling Committee shall be in the position with the remaining period of the former Management Controlling Committee of the Condominium. Article 27. Responsibility The Management Controlling Committee of Condominium is not responsible for any damages occurred from the Management of the Condominium Juristic Person pursuant to the resolutions of General Meeting of Co-Owners or the resolutions of the Management Controlling Committee, subject to the Regulations of the Condominium Juristic Person except it is appeared that being dishonest action or having intention to cause damage or being careless. Article 28. Meeting The Committee shall provide the time and place of the meeting with the notification to all Committee before the meeting date for not less than 7 days and must be prescribed in the agenda of such meeting. Article 29. Meeting Methods The Meeting shall be provided for at least once per three months with more than half of the member of Committee attended in every meeting to complete the quorum. The resolution of the meeting shall be arbitrated by the majority of the votes at the meeting. If the quorum shall not be completed, the new meeting shall be summoned within 15 days and the afterward meeting regardless to the completion of quorum. Any of Committee shall summon the meeting at any time, the notice of meeting shall be sent to all Committee with not less than 7 days and must be specified the date, time, place and agenda of the meeting. At the meeting the Management Controlling Committee appoints one of the Committees acting as the chairman of the meeting and any member Committee acting as a secretary of the first meeting. In case of such position is vacancy, the remaining of the member shall appoint any member of Committee replace the vacant position for the next meeting. If it is more than 15 minutes late for presenting at the meeting of the chairman of the Committee or could not act as chairman of the meeting, one of the members shall be appointed to be the chairman of the meeting. Article 30. Resolutions of the Meeting Resolutions of the meeting must be received the majority of the votes of the attended Committee, except in case of provided in these Regulations or resolutions of the General Meeting of Co-Owners. 8 of 18

9 Chapter 7 Insurance Article 31. Insurance Providing The Condominium Juristic Person shall provide and maintain the following insurance: (A) Third Party Liability Insurance, the insurance shall be liable for the damage to the body, life and property which cause from the acts of the Condominium Juristic Person, Committee or member of Management Controlling of Condominium Juristic Person, the Manger of Condominium or the owners of the units and also the officers or substitutes of such people who making business concerning to the Common Property or Condominium. (B) Fire insurance and other insurance (For other insurances can be made when the approval from Management Controlling Committee has been given) to the construction which is the Common Property, Private Property and Unit, equipments, machines, tools which are the Common Property, such insurance shall not be liable for the Private property of the Owners of unit such as furniture and decorations in the unit. The limit of the money of the insurance must be enough or similar to the expenses which using for turning such properties into the good condition without any deduction of depreciate in value. Such insurance is made for the benefit of the Condominium Juristic Person, unit owners or mortgagees pursuant to the proportion of each person as specified in the policy which stated that the Condominium Juristic Person is sole insurer in order to use the compensation for the benefit of the insurer as specified in these Regulations. Article 32. Waiving the right of claim to the Condominium Juristic Person In case of the right of claim has been occurred by the insurance which such damage has been liable, the Condominium Juristic Person and Co-Owners agree to waive the right of any claim to each other or to the Management Controlling Committee of Condominium Juristic Person or to the Manager of the Condominium as long as the existing of policy or insurances for the benefit of the Condominium Juristic Person, or Owners of unit even the cause of the damage occurred from the careless, remiss or breaking contract of the said people. Article 33. Right and Duties of the Unit Owners for making the Insurance The insurance for Private Property or part of the property which has been improved inside any units becomes the right of such owner of Private Property or units. For the providing of the additional insurance, the owners of unit may insure their responsibility for the damage of individual or property which occurred in the unit but the owners of unit shall specify in the policy with the exception statement of the undertaking the right of claiming to the Condominium Juristic Person, officers of the Condominium or other Co-Owners and such insurance shall not effect or decrease the responsibility of the insurer pursuant to the insurance contract which has been made by the Condominium Juristic Person. Incase of the damage occurred to the property which has been insured by the Condominium Juristic Person, but the Condominium Juristic Person receives the compensation less than the possible amount causing from the making of private insurance, such owners of unit shall give the compensation which received from the insurance to the Condominium Juristic Person as per the less amount. This compensation shall be allocated according to the objectives by the Manger of the Condominium and with the approval from the Management Controlling Committee. Article 34. Notice of Policy Settlement All the insurance which have been made by the Condominium Juristic Person shall have the statement specified that such policy shall not be cancelled until the prior written notice shall be sent for not less than 15 days to the Manager of the Condominium, the Management Controlling Committee and Co-Owners or mortgagees or any other people related to the sending of such notice from the insurer. 9 of 18

10 Article 35. Premium The premium for the insurance which has been. made by the Condominium Juristic Peron and other insurances which is necessary as approved by the Management Controlling Committee is held to be the co-expenses and separated from the expenses of the Common Property as in Article 40. and 41. which the Co-Owners shall be average paid pursuant to the ratio of the ownership of each owner in the Common Property, details as in Article 4. Article 36. Compensation The received compensation shall be spent by the Manager of the Condominium with the approval of the Management Controlling Committee for the construction, repair the damaged property and any payment pursuant to the condition specified in these Regulations. Article 37. Substitute Pursuant to the Policy The Manager of the Condominium with the approval of the Management Controlling Committee acts as the substitute who has been named for the insurer as specified in the policy which has been made by Condominium Juristic Person. All compensations occurred from such insurance as said in Article 31 shall be negotiated by the Manager of the Condominium. The Manager of the Condominium with the approval of the Management Controlling Committee shall spent the compensation for repairing or turning the damaged property into the good condition or payback to the Co-Owners as the case may be. The Manager of the Condominium has the right to negotiate about the damage with the insurer. Article 38. Powers and Duties of Substitute Except has been otherwise provided in this Chapter, the Manager, of the Condominium with the approval of the Management Controlling Committee acting as the Condominium Juristic Person and all Co-Owners has the absolutely right to obligate such people for all matters about the insurance which has been made by the Condominium Juristic Person including the negotiation of compensation, right waiving pursuant to the termination or all changing of insurance for the benefit of the Co-Owners. The duplicate of the policy shall be kept by the Manager of the Condominium Juristic Person. Article 39. Consideration of Annual Insurance The Management Controlling Committee shall consider the insurance which has been made by the Condominium Juristic Person for once a year (12 months). Chapter 8 Expenses and Fund of the Condominium Juristic Person Article 40. Expenses of the Condominium Juristic Person The Co-Owners shall proportionately share all costs and expenses incurred for their common benefit in the Condominium or service providing of the project and also the tools and equipments which provided for the common use and share all taxes and duties and other expenses for the maintenance and proceed of the Common Property in accordance with the Regulations or the resolutions of the General Meeting of Co-Owners. Each Co-owner shall pay for the expenses, as specified in the first paragraph, of each month, regardless the Co-Owners make use of their own unit or not and with the following payments: 1) The Co-Owners who has the ownership in unit for Residence shall pay for the expenses with the rate of 300 Baht per month (Three Hundred Baht Only), 3,600 Baht per year (Three Thousand Six Hundred Baht Only). 2) The Co-Owners who has the ownership in unit for Commercial shall pay for the expenses with the rate of 300 Baht per month (Three Hundred Baht Only), 3,600 Baht per year (Three Thousand Six Hundred Baht Only). 10 of 18

11 Each Co-owner shall pay for the above expenses to the Manager of Condominium Juristic Person with the yearly payment basis and 12 months in advance in the name of Condominium Juristic Person every years, this shall be strictly complied by the Co-Owners. The Management Controlling Committee or the Manager with the approval of the Management Controlling Committee has the authority to prescribe and/or change the ways of keeping, payment and collection as well as the prescribe the increasing or decreasing of such maintenance fee as appropriate situation of economic. Article 41. Fund of the Condominium Juristic Person The Co-Owner, together, shall establish and put up capital of the Condominium Juristic Person for being the revolving capital of expenses on the businesses, further from the Article 40. and also being the beginning expenses for doing any acts pursuant to the Regulations or resolutions of the Co-Owners Meeting. Each Co-Owner shall pay for the fund of the Condominium Juristic Person, regardless the Co-Owners make use of their own unit or not and with the following payments: 1) The Co-Owners who has the ownership in unit for Residence shall pay for the fund of the Condominium Juristic Person with the rate of 200 Baht per square meter (Two Hundred Baht Only), calculated from the size of unit which has been owned. 2) The Co-Owners who has the ownership in unit on the first floor shall pay for the fund of the Condominium Juristic Person with the rate of 200 Baht per square meter (Two Hundred Baht Only), calculated from the size of unit which has been owned. In case of after the fund has been paid by the Co-Owners pursuant to (1) - (2) and has already been used by the Condominium Juristic Person, if the fund has been spent and left less than 30% of the above collecting fund, the Condominium Juristic Person by the Manager of the Condominium or the Management Controlling Committee has the authority to collect the new fund for the benefit as specified in the first paragraph. The new collection amount shall be in accordance with resolutions of the Meeting of Committee. The Co-Owners shall pay for such fund on the date of registration of the ownership transfer of each unit and deposit into the bank account of Viewtalay Jomtien Condominium (1999) Juristic Person with the bank which the deposit and withdrawal have been set by the Committee. The spending of the fund and methods shall be in accordance with regulations which have been provided by the Committee. The expenses and fund of the Condominium Juristic Person shall not be paid by the Co- Owners in case of the transfer of ownership in unit shall not be made with the Viewtalay Jomtien Condominium (1999) Co., Ltd. Article 42. [Translation note: It appears that although there is an Article 42 in the original Thai manuscript, this article was inadvertently missed out in the English translation process. Steps to redress this omission are being pursued (February, 2008)] Article 43. Default If the Co-Owners of unit fail to make the payment as stated in Article 40. and 41., the Co- Owners shall pay for interest with the rate of 15% per year of the outstanding money since the due date until the date of the payment of such money has been made. The expenses for carrying with the collection of the outstanding money and if it is in the arrear with payment for more than 3 months, the Committee by the Manager of the Condominium has the authority to suspend the service of public utility in the unit such as water supply and etc. Further more, the Manager of the Condominium with the approval from the Management Controlling Committee shall have the authority to do anything as appropriate procedure. 11 of 18

12 Chapter 9 Management of Common Property Article 44. Management of Common Property The Manager shall be a representative of the Condominium Juristic Person with the power and duty to carry out the administration and management of the Common Property. Such duty and power shall include instituting and implementing rules and regulations to be observed by the Co-Owners in accordance with Regulations or the resolutions of the meeting or law. Chapter 10 Use of Private and Common Property Article 45. Use of Private and Common Property The management and make use of the unit is the right of Co-Owners or a person who is allowed to use the unit under the responsibility of the Co-Owners. The Co-Owners and/or the person who is allowed to use the unit and also the followers shall be strictly complying with the following rules: 1) The Co-Owners or occupants shall use the unit with the following details: For the 1st floor 433/1 shall be specific used of unit for being a business place only. For the office shall be used shall be specific used of unit for being an office or business place only. For the residence shall be specific used of unit for being a residence only. 2) The Co-Owners or occupants shall be responsible for maintaining his private property in a good condition and shall not do anything which may cause damage nuisance or disturbance to other Co-Owners or occupants in the Condominium and to the security system of the Condominium. 3) All kinds of pet are prohibited to be in the unit and/or in the area of the Condominium and Common Property. 4) Use the unit without noisy and/or disturbance, both in the unit and common area. 5) No change or remove of the alert system, fire alarm system and/or other system without the necessary circumstance or prior approval from the Manager. 6) Private Property is prohibited to keep at the common area. 7) No Co-Owner is allowed to chisel, pierce or alter the floor, ceiling and wall of the unit which is adjacent to the common corridor/balcony and/or the side wall being common use of other unit. 8) No Co-Owner is allowed to keep the heavy tools or equipment or explosive or inflammable item such as gas in the unit. 9) No Co-Owner is allowed to place a signboard or advertising poster at the wall or external balcony of the unit. 10) The Co-Owners or occupants of the unit wish to make any change, alteration, addition or decoration shall provide the plan and specifications to the Manager for checking and approve and when it is appeared that such actions shall not affect to the structure of the fire protection system and other public utility or shall not change the external condition of the Condominium and/or shall not break the rules and Regulation of the Condominium Juristic Person. During the procedure as said in the previous paragraph, the Co-Owners or occupants shall put the damage deposit to the Condominium Juristic Person with the amount of not less than 50,000 Baht (Fifty Thousand Baht Only) or with the required amount which has been set by the Condominium Juristic Person. The Co-Owners or occupants shall comply with the other rules and regulations of the Condominium which has been notified and/or announced. 11) No Co-Owner or occupant is allowed to put the construction materials at common area. 12) No disposing of the leaving of construction material and decorations into the garbage hole or throwing from the balcony of the unit. 12 of 18

13 13) The Co-Owner or occupant shall allow the officer of the Condominium or craftsman to inspect, repair and alter in case of the damage of Common Property or nearby unit or material breaking in the unit. 14) The Co-Owner or occupant is responsible for the damage to the Common Property and the property of nearby unit or the unit on the upper and lower floor causing from the addition, alteration, repair, change or remove the public utility and security system or the damage which originate from such unit. 15) No Co-Owner or occupant is allowed to cook in the unit, except at the provided place for such action. 16) No Co-Owner or occupant is allowed to take the offending property or illegal acquisition into the area of the unit or Common Property. 17) Any Co-Owner or occupant is in breach the above rules and regulations shall be suspended the service of public utility and the Committee or the General Meeting has the authority to forfeit the deposit or call for the damage and/or stop, cancel the proceed or command of removal any parts and also to change and alteration with the costs of the owner of such unit. 18) The Co-Owners wish to transfer the ownership in unit to other person shall notify the Manager for not less than 7 days in advance for requesting the free of debt certificate. Further more, the name and address or contact place of the assignee shall be notified to the Manager. The new occupant shall be strictly complying with the rules and regulations of the Condominium. 19) The said rules and Regulations, the Manger with the approval of the Committee or General Meeting has the authority to additional prescribe for sometime as appropriate by an announcement. 20) The Co-Owners shall use the Common Property without dirty, disturb, obstruct to the performance or use of the Condominium Juristic Person or other Co-Owners to the Private Property and Common Property. 21) The installation, connection or joint the water meter, electric meter, water and drainage pipes electric wire and telephone cable and/or other Private Property from each unit to such Common Property is absolutely sole responsibility of the Condominium Juristic Person with the expenses of Co-Owners, violent installation or connect by the Co-Owners is prohibited. 22) The Condominium Juristic Person reserves the right for the installation, connection or for cancel of the public utility service and/or other service of the Common Property to the Co- Owners. 23) The Co-Owners Of the unit shall not make any pierce, pound, change, alteration or any addition to the Common Property. Article 46. Addition and Decoration The following addition and decoration or alteration is held to be the change of the external condition of the building which the Co-Owners or occupants are not allowed doing, except the prior approval from the General Meeting of the Co-Owners: 1) The alteration of material or color of the door and window of the unit. 2) The alteration of the material or color of the external wall adjoined to the common corridor or the wall and balcony of the unit. 3) The installations of external bar of door, window adjoined to the common corridor. 4) The installation of antenna, post, cable or satellite dish outside the unit. 5) The addition and alteration of the balcony of the unit. Article 47. Responsibility To use of the Common Property and Private Property of Owners of unit, the Co-Owners shall comply with the Regulations of the Condominium and the provisions of the law of Condominium. If the use of such property causes damage to other person, the owners of the unit shall rectify into the original condition within the stipulated period of the Manager of the 13 of 18

14 Condominium and/or pay for damage. If he owners of the unit shall not do such procedure within the stipulated time, the manager of the Condominium has the authority to repair with the costs of the owner of such unit and/or the damage shall be paid to the victim by the owner of the unit. Article 48. The Management of the Common Property in the following matters shall be subject to a resolution of the General Meeting of the Co-Owners: 1) To permit any Co-Owners to make any construction or addition which effects to the Common Property. 2) Purchase immoveable property or accept any encumbered immoveable as the Common Property. 3) To amend the Regulations concerning the use and management of Common Property. 4) To carryout any construction, addition, or improvement of the Common Property other than that which is specified in these Regulations or as resolved by the General Meeting of Co- Owners. 5) To dispose any of the immoveable property of the Common Property. Chapter 11 Damage to all or some part of the Condominium Article 49. When the damage occurred to the Condominium the following matters shall be apply as the case may be: 1) If the Condominium is entirely destroyed or more than one of half of all units is damaged, and the Co-Owners resolve byway of majority vote to reconstruct or repair such damaged part, the Condominium Juristic Person shall take action to reconstruct or repair the damaged property and restore it into good condition. 2) If some part of the Condominium is damaged but less than one half of all units and majority of Co-Owners of such unit resolve in a meeting to reconstruct or repair such damaged part of Condominium Juristic Person shall take action to reconstruct or repair the damaged property and restore it into the good condition. 3) The compensation receiving from the insurance shall be spent for the construction or repair of damaged building and such expense is held that it is the expenses of the Construction or repair. If the said money is not enough all Co-Owners shall pay for the additional expenses of the damaged property according to their proportion of ownership rights in the Common Property. The expense for the construction or repair of the Private Property is sole responsibility by the owner of the damaged unit. 4) All new property shall be deemed to be replacements of this original property and all original documents of ownership related to the old property shall be deemed to be that of the new property. If any details in such documents of ownership do not correspond to that of the new property, the Condominium Juristic Person by the relevant officer shall attend to the requisite amendment. 5) If the relevant Co-Owners resolve not to reconstruct or repair the damaged property, the right in the Common Property of the owner of the damaged property is bereaved, in this case the compensation from the insurance shall be paid to such Co-Owner of damaged property and if it is not enough all Co-Owners shall pay for the remaining of the money according to their proportion of ownership rights in the Common Property. Co-Owner of the damaged unit shall surrender the title deed of their to the officer if they resolve in a meeting not to reconstruct or repair their property within 30 days, since the date of receiving the compensation. 6) For the benefit of the possession and make of use of the unit and the Condominium, all Co- Owners agree to waive the right to run down of each other and Condominium Juristic Person for the damaged which may causes to the building. Such agreement shall be made in writing before or on the date of the transfer of ownership in unit. 14 of 18

15 Chapter 12 Expropriation of Condominium Article 50. Expropriation of Condominium In the event that any part of the Condominium is expropriated under the relevant laws on expropriation of immovable property, a bereaved Co-Owners shall cease to have ownership in the Common Property remaining after expropriation. Upon such appropriation, the Condominium Juristic Person shall arrange for each Co-Owner whose unit has not been expropriated to pay the bereaved Co-Owner, a proportion of compensation, according to their proportion of ownership rights in the Common Property and this shall not waive the right of Co-Owners to have a unanimity resolution to dissolve the Condominium. In case of the Condominium is entire expropriated, the relevant laws on expropriation of immovable property, the Condominium is dissolved. Chapter 13 General Meeting of Co-Owners Article 51. General Meeting The Manager or the Management Controlling Committee of Condominium Juristic Person shall convene the General Meetings of all Co-Owners with the following details: 1) The first General Meeting shall be called within 6 months after the date of registration of the Condominium Juristic Person. Subsequent General Meetings shall be called by the Manager at least once a year. All other General Meetings shall be called Extraordinary Meetings. At least 7 days notice prior to every meeting shall be given to all Co-Owners. The notice shall specify the day, time and place of the meetings as well as the agenda. 2) An Extraordinary Meeting shall be convened by the Manger or the Management Controlling Committee of Condominium Juristic Person with the following cases: (A) When the requisition to that effect is made in writing to the Manager by a number of owners who have the right to vote and hold at least one-fifth of the Co-Owners ownership in the Common Property. Such requisition must specify the object which the meeting is required to be summoned. (B) When the position of the Manager of the Condominium Juristic Person is vacancy before the expiration of the term and the temporary Manager of the Condominium shall convene the meeting. (C) When it is appeared to be appropriate by the Manager or the Management Controlling Committee of Condominium Juristic Person. In case of the Co-Owners make a requisition as in (A), the Manager or the Management Controlling Committee of Condominium Juristic Person shall summon the meeting immediately and if it is failed to summon immediately by the Manager or the Management Controlling Committee of Condominium Juristic Person, the Extraordinary shall be summoned by such Co-Owners. Article 52. Procedures for General Meeting In General Meeting there must be persons attending the meetings holding altogether at least one third of the total number of votes of the Co-Owners, in order to constitute a valid quorum. Article 53. Chairman of the General Meeting The Chairman of the Management Controlling Committee of Condominium Juristic Person shall be the Chairman in the General Meeting. 15 of 18

16 If such Chairman shall not attend the meeting for and it is the 15 minutes late, the Co- Owners shall appoint one of them as a Chairman of that meeting. Article 54. Postponement of Meeting In any of General Meeting if the Co-Owners or their proxies shall not attend the meeting causing the quorum shall not be valid constituted, the Chairman shall postpone the Meeting and the next meeting shall be summoned within 15 days. And even the Co-Owners or their proxies constitute the valid quorum in the new meeting which has been postpone, only the matters of the previous meeting which has been postpone shall be considered in the meeting. Article 55. Resolution of General Meeting 1) A Resolution of a General Meeting requires a simple majority vote of the Co-Owners present at the meeting. 2) Resolution on any of the following matters requires more than one half of the votes of all Co-Owners: (A) To permit any Co-Owners to do any construction or modification which shall be effect to the Common Property or to the exterior of the Condominium building at the expenses of such Co-Owners. (B) To appoint or demote the Manager and the Management Controlling Committee of Condominium Juristic Person as well as the change of authorize of the Manager and the Management Controlling Committee of Condominium Juristic Person. (C) To stipulate the activities which the Manager may authorize and assign to other person to carry out on behalf his behalf. (D) To reconstruct or repair the Condominium which is entirety or more than half damaged. If the votes of Co-Owners presenting at the meeting is not enough to be held as the majority vote, the new meeting shall be summoned within 15 days since the date of the previous meeting. In this new meeting, the resolution shall be made according to the majority vote of the attendances. 3) Resolution concerning the following matters requires affirmative votes of not less than three fourths of the votes of all Co-Owners: (A) To amend or change the rate of expenses, fund as well as the insurance of the Condominium Juristic Person pursuant to the Regulations. (B) To buy and purchase immovable property or to accept encumbered immovable property as the Common Property. (C) To amend the Regulations concerning the use or management of the Common Property. (D) To approve construct which is a modification, addition or improvement to the Common Property, otherwise than provided in these Regulations. (E) To sell or dispose of any of the Common Property which is an immovable property. Article 56. Voting of the Co-Owners Each Co-Owner shall be entitled to cast his vote in any General Meeting according to the ratio in the ownership in the Common Property. If the vote which a Co-Owner is entitled to exceeds one half of the total votes of all the other owners, his vote shall be reduced to that equivalent to the aggregate vote of all the later. Article 57. Proxies A Co-Owner may appoint proxies in writing, to attend and vote in place of the Co-Owners and present to the Chairmen before or when the commencement of the meeting. Any Co- Owners is in arrear of any payment pursuant to these Regulations, such Co-Owners have no right to vote. 16 of 18