Round seal of the Entering Registration Office

Lawyer Tzvetomir Stoyanchev Todorov, member of Sofia Association of Lawyers, holder of personal identity card No 137098612, issued on 02.03.2000 by the Ministry of Interior, city of Pleven, PIN 7406194127,
attended my office according to the prescriptions of his Power of Attorney with notary registered signature No. 2436/01.12.2003 of Public Notary Slava Piliakova, registered by No 344 at the Register Book of the Notary Chamber,
being in the position of an attorney of Michael Hunsburger, citizen of the United States, of Foreign Citizen Identification Number (FcIN) 1000686517, Manager of BULGARIAN-AMERICAN PROPERTY MANAGEMENT Co.Ltd., of headoffice address of management: Sofia city, Oborishte district, 3 Shipka Str., registered at Sofia City Court by firm file No. 14941/1995 and entered into the Trade Register Book at Sofia City Court by No. 26 820, volume 313, page 48, BULSTAT (Trade Statistical Classification) No. 831827511, NDR (Tax Registration Classification) No 1223060060,
on the one side,

and on the other side,
Plamen Dimitrov Hinchovski from Sofia city, holder of Identity Card No 16053002 dated 26.06.2000, issued by Ministry of Interior, Bulgaria, Sofia city, PIN 6405102000, in the position of Executive Director of IBUILD Jsc, with headoffice and address of management: Sofia city, 155 G.S.Rakovski Str., registered at Sofia City Court by firm file No. 2311:/2003 and entered into Trade Register Book at this Court by No. 80 660, Volume 863, page 188, BULSTAT No. 131178016, Tax Registration No. 1220179296;

And upon my certifying their personal identity, ability and power of attorney,
they declared to me that they are concluding the following Contract:

1. The BULGARIAN-AMERICAN PROPERTY MANAGEMENT Co.Ltd., represented by Michael Hunsburger, Manager, through his Attorney, lawyer Tzvetomir Stoyanchev Todorov, is selling to IBUILD Jsc, represented by its Executive Manager, Plamen Dimitrov Hinchovski, its real estate property, as follows: a PLOT, situated in the city of Sofia, covering surface area of 6,239 (six thousand two hundred thirty nine) m sq., representing a REGULATED LAND PROPERTY (plot) I-522, 900 /first for land properties of plan-surveyor’s numbers five hundred twenty two and nine hundred/ of residential district I /first/ on the Sofia city plan, locality ‘Water Power Station – WPS- Simeonovo, Vitosha’, and bordering on the following: ‘Simeonovsko Shose’ street, ‘G.M. Dimitrov’ boulevard, UPI II-523, 524, along with all the improvements made on the plot for the sum value of EUR 1,200,000 (one million two hundred thousand EUR-s) which sum is completely paid to the seller following the conditions for opening a special bank account according to Contract, concluded on 25.11.2003 between BULGARIAN-AMERICAN CREDIT BANK Ltd., FESTA HOLDING Ltd., Seller, whereas all the rights of FESTA HOLDING Ltd. were transferred to the Buyer.
   The Tax Estimation of this Property amounts to BGN 168, 453 (one hundred sixty eight thousand four hundred fifty three Bulgarian Leva) as it can be seen from Certificate No 16-00-19-1579/ 04.11.2003 of Territorial Tax Department – Sofia city, ‘Studentski’ tax office branch.
2. In signing up this Notary Deed Contract, the SELLER transfers to the BUYER all his rights on any contracts concluded between SELLER and any third persons related to designing, construction and use of infrastructure facilities to the property sold. By signing up this Contract, the BUYER agrees to acquire these rights.
3. The SELLER is bound to pay the BUYER until the date of 29.01.200- the sum of USD 13,600 (thirteen thousand six hundred US Dollars) liability of contract payment for property designing, plus annual interest on this sum to the amount of 6 % (six percent), considered as from the date of signing up of this Notary Deed on 29.01.2004.
4. Plamen Dimitrov Hinchovski in the position of Executive Manager of IBUILD Jsc. declared that he accepts and buys on behalf and on the account of the Company the real estate property as sold by this Contract under the conditions of this Contract.

After I was ascertained that the SELLER is owner of the real estate property undergoing selling, and that the specific requirements of law are observed, I approved the present Notary Deed the way it was submitted to me by the participants of the notary procedure, which was read to them and signed upon their approval by them and by myself, the Public Notary.

At the formal notary procedure on the deed, the following written evidences were submitted to me, verifying the property right and the implementation of the specific requirements of Law: 1. Notary Deed No. 185, Volume XXIII, Notary Deed No. 5226/2001; 2. Design plan No. SK-9-376/17.11.2003 – Sofia City Municipality, ‘Studentski’ region; 3. Sofia City Court Certificate dated 24.09.2003 on firm file No. 14941; 4. Notary registered signatures of Power of Attorney No. 2436 dated 01.12.2003 by Public Notary Slava Piliakova, entered into the Notary Chamber Register Book by No. 344; 5. Certificate No. 16-00-19-1579/04.11.2003 of Territorial Tax Department – Sofia city, ‘Studentski’ Tax Office Branch; 6, Decision of one-man capital owner of BULGARIAN-AMERICAN PROPERTY MANAGEMENT Co.Ltd., from 17.11.2003; 7. Decision of Sofia City Court No. 18.12.2003, on firm file No. 1117.2003; 8. Minutes Record from 19.12.2003-session of IBUILD Jsc. Management Board; 9. Notary Deed of Ascertaining No. 131 Volume IX, Notary Deed No. 1471/2003 of Notary Public Ivailo Nikolov of operation area Sofia City Court, entered by No. 040 into the Notary Chamber Registration Book ; 10.Pay bill for charged local fee paid.

FOR THE SELLER: signed /illegible/
/Tzv. Todorov, Lawyer/

FOR THE BUYER: signed /illegible/
/ I.Hinchovski/

PUBLIC NOTARY: signed /illegible/