F U L L T I T L E P R I V A T E C O R P O R A T E L O D G E P R O S P E C T I V E O W N E R S M A N U A L

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PRIVATE CORPORATE LODGE Ownership – The Smarter Way To Own.

Development’s name

Development type Full Title Corporate lodge within Zwahili Game Reserve

Concept Private residence full title ownership of a luxury property with managed hospitality and support services.

Location Off the N1 onto the R33, 2nd Boekenhout Rd, Modimolle / Nylstroom,

Limpopo Province, South Africa 24 47’ 28,6” S / 28 43’ 58,3” E Distances OR Tambo / Zwahili 200km Johannesburg / Zwahili 200km Pretoria / Zwahili 150km Polokwane / Zwahili 150km Sun City / Zwahili 260km

Kruger National Park / Zwahili 525km Main Arterial Route N1 North

Climate

Hot in summer mild in winter

Summer months: October to April - ± 15°C to 34°C Winter months: May to September - ± 8°C to 28°C

Rainfall Mean annual precipitation (MAP) is 552mm with 80% of rainfall occurring between November and March. Mean annual S-pan evaporation (MAE) is approximately 1800 mm for the area.

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Current Status

A well-established five star Game Lodge. Zwahili Private Game Lodge has always prided itself in offering an exceptional private safari experience complimented by exquisite food and exemplary service. To this end Zwahili recently expanded its Reserve by almost 140%, which also added another 14 species of wildlife to the Reserve. Zwahili is now one of the largest privately owned malaria free reserves in the region. Accolades

 Voted by Automobile Association Travel Guide of South Africa as one of South Africa’s top 4 game lodges for the 3 years & overall winner in 2006.

 5* Grading by the Tourism Grading Council of South Africa  TripAdvisor certificate of excellence 2014 & 2015.

Corporate lodge size 327 m2 excluding decking, pool & outside showers.

Erf portion views Various, dependent on choice Activities

 Archaeological sites with Bushmen & Khoisan paintings  Bird watching

 Bush dinners  Bushveld picnics  Conference facility

 Game viewing by an experienced ranger in an open Safari Landrover  Guides walks and hikes

 Spa treatments  Silhouette shooting  Stargazing

Building style Contemporary African design subtly infused with Colonial flavours, completed with luxurious finishes.

The combination of indigenous stone, wood and glass invites nature onto your doorstep.

Estate Water The water quality is classified as class 1 – Good quality water suitable for bottling.

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Indigenous vegetation

The vegetation can be classified as mixed Bushveld. The broad leaf woodlands and combretum bushveld of predominantly mixed grass types (sweet and sour veldt as it is commonly called) extend throughout the region and are interspersed with densely vegetated ridged, kopjes and plateaus.

Wildlife and birdlife Over 300 species of African birdlife with rare sightings such as lizard buzzard and brown snake eagle. Game viewing by an experienced ranger in an open Safari Landrover offering sightings of lion, giraffe, leopard, civet cat, zebra blue wildebeest, eland, impala, kudu, red hartebeest, blesbuck, waterbuck, gemsbok, ostrich, bush pig, warthog and numerous smaller antelope

Regional Geology Based on the 1:250 000-scale geological sheet, the site is underlain by fine-grained red to cream sandstone of the Clarens Formation of the Karoo Sequence except for Witkop which consists of medium to coarse-grained sandstone, pebble-sandstone, siltstone, shale and conglomerate of the Swaershoek formation of the Waterberg group.

Local attractions  Zwahili is situated in close proximity to the Nylsvly Nature Reserve. This is a 4 000-hectare wetland and home to the largest variety of water birds in the Southern Hemisphere. 104 of the 365 bird species recorded are water birds and 87 species are breeding. Nylsvley’s list includes 37 red-data listed species – including the critically endangered Bittern. This is a Provincial Reserve run by the Limpopo Tourism and Parks Board

 Thaba Kwena Crocodile farm 15km’s north of Bela Bela – the largest commercial crocodile farm in the Southern Hemisphere

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Features Unique to this Development

 Disease and Malaria free

 Two hours from Africa’s economic and financial capital Johannesburg

 One hour fifty minutes from Africa’s leading International Airport by road and 40 minutes by helicopter.

 Same time zone as Europe – ideal as short and medium stay venue

 Moderate all year round climate making venue activities and facilities accessible and usable all year round.

 Untouched pristine African Bush is a rare commodity. The ever increasing interest in eco tourism to these areas creates an increasing demand for qualified personnel with professional knowledge, as well as a deep affinity and understanding of Nature and its conservation

 Various historical and archeological sites in the area including Anglo Boer confrontations.  Zwahili Game Reserve will not just offer you the holiday of a lifetime forever, but also the

chance to make a significant contribution to the preservation and conservation of this pristine area. A unique lifestyle and an investment opportunity.

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Project Status

ROD (Record of Decision) Approval: Yes Development Facilitation Act (DFA): Approved ROD date and reference number: Approved Final proclamation certificates: Obtained

Municipality being used: Mookgopong (Naboomspruit) Local Municipality Development Company: Smartspec Property Investments (Pty) Ltd

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Description – Chelele Corporate Lodge

4 Ultra Luxury Master Suites – fully furnished

Bedroom with lounge area, mini bar and TV

 Executive wireless workstation

 En-suite bathroom with bath, his & hers basins, shower & WC  Outside shower for two

 Private viewing / sun deck

Living & Entertainment Area

 Lounge area

 Dining area and bar  Kitchen

 Entertainment deck with multi-braai  Splash pool

 Entrance pathway & central water feature Building: 327 m2

Decking: 141 m2

Outside showers: 38 m2

Total area: 506 m2

ZAR 223,000.00 (Incl Vat) PER SHARE Monthly levy ZAR 1250.00 includes:

 Building & short-term insurance

 General maintenance and provision for future maintenance  Bank Charges

 Housekeeping / Cleaning Service  Pool and garden maintenance  Cleaning Consumables

 Secretarial services  Water, Lights

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Ownership Calendar

Week 2016 2017 2018 2019

1 1 January 30 December 2016 29 December 2017 28 December 2018

2 8 January 6 January 5 January 4 January

3 15 January 13 January 12 January 11 January

4 22 January 20 January 19 January 18 January

5 29 January 27 January 26 January 25 January

6 5 February 3 February 2 February 1 February

7 12 February 10 February 9 February 8 February

8 19 February 17 February 16 February 15 February

9 26 February 24 February 23 February 22 February

10 4 March 3 March 2 March 1 March

11 11 March 10 March 9 March 8 March

12 18 March 17 March 16 March 15 March

13 25 March 24 March 23 March 22 March

14 1 April 31 March 30 March 29 March

15 8 April 7 April 6 April 5 April

16 15 April 14 April 13 April 12 April

17 22 April 21 April 20 April 19 April

18 29 April 28 April 27 April 26 April

19 6 May 5 May 4 May 3 May

20 13 May 12 May 11 May 10 May

21 20 May 19 May 18 May 17 May

22 27 May 26 May 25 May 24 May

23 3 June 2 June 1 June 31 May

24 10 June 9 June 8 June 7 June

25 17 June 16 June 15 June 14 June

26 24 June 23 June 22 June 21 June

27 1 July 30 June 29 June 28 June

28 8 July 7 July 6 July 5 July

29 15 July 14 July 13 July 12 July

30 22 July 21 July 20 July 19 July

31 29 July 28 July 27 July 26 July

32 5 August 4 August 3 August 2 August

33 12 August 11 August 10 August 9 August

34 19 August 18 August 17 August 16 August

35 26 August 25 August 24 August 23 August

36 2 September 1 September 31 August 30 August

37 9 September 8 September 7 September 6 September

38 16 September 15 Spetember 14 September 13 September

39 23 September 22 September 21 September 20 September

40 30 September 29 September 28 September 27 September

41 7 October 6 October 5 October 4 October

42 14 October 13 October 12 October 11 October

43 21 October 20 October 19 October 18 October

44 28 October 27 October 26 October 25 October

45 4 November 3 November 2 November 1 November

46 11 November 10 November 9 November 8 November

47 18 November 17 November 16 November 15 November

48 25 November 24 November 23 November 22 November

49 2 December 1 December 30 November 29 November

50 9 December 8 December 7 December 6 December

51 16 December 15 December 14 December 13 December

52 23 December 22 December 21 December 20 December

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Purchase Process

An amount of 10% (Ten percent of the purchase price) (VAT inclusive and non refundable) shall be paid to the Conveyancers on the Date of Signature of this agreement to be kept in a section 78(2A) interest bearing Trust account by the Conveyancers, and the PURCHASER authorises the Conveyancers to pay over the amount (minus the interest) to the SELLER on issuance of the Architects progress and completion certificates. The PURCHASER must provide the balance of payment or guarantees therefore to Conveyancers within 21 days of signature hereof. The interest will be held for the benefit of the PURCHASER and paid over to the PURCHASER on demand after the Occupation Date.

The balance of the Purchase Price (VAT inclusive) shall be paid by the CONVEYANCER to the SELLER as follows:

 50% of the purchase price paid to the seller on issuance of the certificate by the Land Surveyor confirming peg co-ordinates and final measurements.

 30% 0f the purchase price when the structure reaches roof height.

 10% of the purchase price upon issue of the Architects beneficial occupation certificate.

 Upon receipt of full payment the CONVEYANCER or his auditor will transfer the purchased share/s to the BUYER

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Professional Team

The development team, are inspired by their strong beliefs in preservation and conservation of wildlife and the environment. The main priority is preservation and conservation through low-density development sustaining a fast diminishing heritage. Through proactive and careful management, the development team will strive for Zwahili Private Game Reserve to maintain its place in posterity. New Development on Existing 5* Resort

Agricultural Consultants Index Inc : Dr. J A Gouws

Conveyancers MacRobert Inc Attorneys

Auditors Ashton Chartered Accountants Inc

Civil Engineers Moedi Consulting Inc

Conservation Planner Dr. Kevin Gast

Construction Company Gast International SA (Pty) Ltd

Developers SmartSpec Property Investments (Pty) Ltd Environmental Impact Analyst A B Enviro Consultants :

Prof. A B de Villiers Geotechnical Engineers WSM Leshika Historical and cultural

Consultants

African Heritage Consultants : Dr. Udo Kusel

Hydrological Engineers WSM Leshika

Marketing Company Smartspec Property Investments Town and Regional Planners F de Lange Inc

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Local Area Information

Closest Hospital

Modimolle / Nylstroom ±35 km

St Vincent – Bela Bela/Warmbaths ± 55 km

Closest Shopping Centre

Modimolle (Nylstroom) 36km Bela Bela (Warmbaths) 45km

Closest Town

Modimolle (Nylstroom) 36km

Nearest Airports & Distances

Modimolle Airstrip: 30km Wonderboom Airport: 180 km Lanseria Airport: 180km

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South Africa - Tax & Legal Information

Under South African law, non-residents can own their own homes partially or wholly in their own name or under the name of a company, a close corporation or a trust. The maximum capital gains tax payable in South Africa is 20%.

Any foreigner is allowed to open a non-residential bank account with any commercial bank in South Africa. Rental income is usually taxed at a rate of 40%. Tax deductions can be claimed for operating expenses including monthly levies and interest costs.

Owners of units purchased throughout the Zwahili Private Game Reserve will have their Title Deeds held in their name at the Deeds Office.

If you would like to gain further insight into the legal and tax considerations we believe are initially relevant and of importance to you as our client, please contact us.

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Non-Residents Purchasing Property in South Africa

Under the rules outlined by the South African Reserve Bank, all foreigners are to be treated as non-resident. All natural persons or legal entities, whose normal place of residence, domicile or registration is outside the common monetary area of South Africa, are to be regarded as non-resident.

In cases where non-residents will not require any form of funding other than paying cash for property purchases, their transactions can be processed without intervention from the South Africa Reserve Bank.

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FAQ’s

Is this Time-share?

No, this is a full title development; this means that you own the actual land, bricks and mortar of the fractional ownership development. You are purchasing directly from our development company, Smartspec Property Investments (Pty) Ltd.

What is fractional ownership?

By definition, Fractional Ownership is the collective ownership of an asset, usually one with a high monetary value such as luxury property, whereby each owner literally owns a fraction of the property.

Fractional Ownership is a real right, Timeshare is a usage right.

Chelele Corporate Lodge is the registered company that owns the land, buildings and improvements thereon situated within Zwahili Private Game Reserve. The Company has 52 un-divided shares, which can be bought at the advertised price. When you purchase your share you become a shareholder and acquire specific rights and interests, one of these is the right to occupy your property for a specific time.

For example if you purchase 1 share you will occupy for 1 week per year.If you purchase 2 shares you will occupy for 2 weeks per year etc. These shares do not expire and remain yours forever or until you choose to sell them.

If you fall into one of the following categories, Fractional Ownership could well be for you:  You are willing to part own a property under a carefully managed system.

 You are looking for a second home but don’t want to or cannot use it for much of the year.  You would like to invest in a holiday home but cannot afford 100% of the cost.

 You wish to avoid the expense of a full mortgage, upkeep, insurance and taxes for a property you don't use more than a number of weeks a year.

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Who manages the Chelele Corporate Lodge?

Zwahili Game lodge is responsible for the day-to-day management in all respects. This means that you can have a full bush experience free of everyday decisions and complications.

Who manages the Zwahili Reserve?

Zwahili Game Reserve (Pty) Ltd is fully responsible for the reserve and operates within the ecological parameters as defined by the trustees and local legislation. This includes all wild life, roads, storm water and fences.

Can I re-sell or rent out my interests?

Yes, you may and many owners opt to rent out the weekdays while keeping the weekends for personal enjoyment. This is done through Zwahili who manage the entire process from start to finish. The income derived from this will not only pay your levy but will also generate an income stream from your investment; this obviously is influenced by occupancy.

You may re-sell your shares after a period of 2 years from date of purchase. Return on investment?

The property will increase in value, more specifically brought about by diminishing habitats all over the world. Should the owner prefer to make the hotel availble commercially, Zwahili will manage this process.

What about Capital Gains Tax?

Experience has shown that the value of your share in a fractional-ownership company will probably increase significantly. As the purchase of this share is an investment, any increase in the value of this investment will constitute a taxable capital gain if you sell your share.

Are the units fully serviced?

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