Фонд «РЖС»

Principal auction terms and conditions

Address

Tyumen Region, Tyumenski District,

Moskovskoye Municipal Entity

(72:17:1313003:2638)

Leasehold value (starting price)

26,786,000 (twenty-six million seven hundred eighty-six thousand) rubles, 18% VAT inclusive

Price increment1,000,000 (one million) rubles

Lease paymentThe first 4 (four) quarters (grace period)

61,808,358 (sixty-one million eight hundred and eight thousand three hundred fifty-eight) rubles 11 kopecks

per year, 18% VAT inclusive

Commencing from the 5th (fifth) quarter (main period):

132,446,481 (one hundred thirty-two million four hundred forty-eight thousand four hundred eighty-one) rubles 66

kopecks per year, 18% VAT inclusive

Redemption of land upon expiration of the lease contract*

2,692,154 (two million six hundred ninety-two thousand one hundred fifty-two) rubles 60 kopecks, VAT exempt.

Land plots area 585,251 sq. m

Land plots lease period 8 (eight) years

Maximum time frame for development of the area planning design and parcel plan

1 (one) year

Maximum time frame for construction of the utility infrastructure facilities

8 (eight) years

Maximum time frame for housing construction and other construction

8 (eight) years* Redemption can occur at any stage of land development after approval of the area planning design and parcel plan and the formation of new land plots. Common areas and land plots under residential buildings with apartments registered under the civilian ownership are irredeemable.

Фонд «РЖС»- 2 -

Comfortable payment plan

Comfortable payment plan assumes an optimal ratio of the three components of the land fee:

1. On the basis of the appraisal carried out in accordance with the Russian legislation on appraisal activity, the

starting fee value for the right to conclude the Russian Housing Development Foundation land plot lease contract has

been determined, and its final value shall be determined during the auction;

2. Lease payments are distributed over the entire construction period so that from the date of signing of the land

plots acceptance certificate the first four quarters have the halved size of the lease payments for the land plots, the right

to conclude a lease contract for which has been purchased at auction (hereinafter referred to as the land plots ) or the

land plots in the event of their formation as a result of land plot surveying in accordance with the planning design

(hereinafter referred to as the formed land plots) . Part of the lease payments on which reduced grace period payment is

applied is evenly distributed over all the following years of land plots or formed land plots lease after the grace period

and before the end of the area development.

3. The formed land plots repurchase price has been determined in accordance with the rates for land plots from

land owned by the central or local government approved by the state authorities of the constituent entity of the Russian

Federation. Formed land plots lease agreements will be terminated after commissioning of the facilities built on them

during the implementation of measures for the land plots integrated development for purposes of housing construction.

Thus, while maintaining an annual lease rate, the volume of lease payments will be subject to change progressively with

respect to area development.