For the purposes of creating a Punchlist, the final inspection of your Unit will take place once the Unit is substantially complete and before you formally close on your Unit. This will ensure that we have an impreoved way of handling any minor deficiencies before you occupy your Unit.

You will be given two weeks notice of the Inspection Date, stating that the Unit is substantially complete. You will then have another two weeks from the Inspection Date to carry out the inspection of the Unit and provide a written list of any items that may need final adjustment or attention. It will be critical that the inspection is done within the two weeks, so if you cannot personally attend you can easily use one of the many qualified professionals on-island to carry out an independent completion and inspection report.

The contractor will them be able to immediately begin to address any items noted before the closing and occupancy of your Unit takes place. Your possession of the Unit will take place four weeks after the Inspection Date. The intent is to use the four weeks to address as many items as possible before you arrive and also allow for the orderly installation of your furniture package.

An attempt to install your furniture during the final segments of construction creates a potential risk of damage to your furniture; therefore, the installation will not commence until after the Inspection Date, and the purchase of your furniture will be separate from your condominium agreement. In order to accommodate the delivery and installation of your furniture, a Furniture Installation Period of up to four weeks will be allocated after the Inspection Date, thus resulting in better quality control during the installation process and minimizing the vast majority of construction workers and activity. There will be no Possession of the Unit during the Furniture Installation Period. Due to the critical factor in ensuring high quality levels, the Developer will incur all utility, insurance and operating costs associated with the Unit during this period up to your possession.

The Closing of the Unit and the Transfer of the Title will take place at the end of the Furniture Installation Period (i.e. four weeks after the Inspection Date) providing, of course, that there is a certificate of occupancy issued for the Unit. If this is not the case, then the Closing Date will be handled by the Possession Date clause. It is at this point that final payments and closing adjustments will take place and you can look forward with excitement to your very first day in your new retreat.

Due to the time required to formally receive the titles back from Land Registry for the various Units, a situation could arise where your Unit is fully ready for occupancy and closing, but the lawyers simply don't have a title physically available at that time. In order to avoid the frustration that this could cause by not having the ability to occupancy your unit, the Agreement for Sale contains a provision where you will take possession of the Unit as a licensee and pay the balance or interest of the purchase price until the title is delivered and the formal closing take place.

The transition from a luxury personal-use property to a fully functional resort is very important and should not be overlapped with your immediate possession of the property. As the Developer of the property, we want to ensure that we have fully addressed all operating items within your Unit and that you have had an opportunity to verify that the Unit is operating to your 100 percent satisfaction before opening ourselves to resort clientele. In this way, it is guaranteed that the operation and preventative maintenance control systems are fully functional and established before focusing on the demands and requirements of our resort clientele. It will allow management company time to an adequate amount of post and pre-opening training, as well as give the travel industry the confidence to book the property in advance, knowing there will not be any construction delays or operational issues to potentially disrupt their clients' vacation. Thus, for a period of four to six months there will not be a full rental program underway' however, the Unit will be yours to use as you wish.

Yes it is. As the Developer, we feel the allocation of the mentioned timeframe is so critical to the resort's smooth transition that we will pay all regular monthly strata operating fees, including insurance, for the first six months. During this time you will only be responsible for your personal consumption within your Unit, such as utilities cable, etc.