S.L. 573.16 Art. 14General conditions. 6 [S.L.

(1) The property shall be granted with the tale quale exclusion of all warranties and, in all cases, it shall be transferred as subject to any latent defects, in its present state and condition.

(2) The submission of any application in accordance with these regulations shall automatically render null any other pending application and, or request for repairs.

(3) The authority reserves the right to conduct random site inspections as it deems necessary.

(4) Any existing encroachment concessions shall remain unaffected subject to the authority’s discretion and shall be precluded from forming part of the new emphyteutical concession. CONCESSION TO THE EMPHYTEUTA, TENANT OR OPERATOR OF GOVERNMENT-OWNED COMMERCIAL 573.16 PROPERTY

(5) The new emphyteutical concession shall be subject to, and shall not prejudice any existing servitudes.

(6) Where the emphyteuta is a company, at least one (1) of the directors or any person who is not a juridical entity, subject to approval by Government, shall constitute himself as a guarantor in favour of the Government, in relation to all the obligations being undertaken by the emphyteuta in the deed. These obligations inter alia include the payment of ground rent, damages, expenses, payments and obligations that may be suffered by the Government directly or indirectly from this grant.

(7) Any emphyteutical concession granted in accordance with these regulations, shall not be subject to redemption and conversion to perpetual emphyteusis.

(8) Following the grant of the emphyteutical concession in accordance with these regulations, the current title shall cease ipso jure.