DEED OF TRANSFER AND ASSIGNMENT OF LEASEHOLD RIGHT

Number:

-On this day,

--Appeared before me, MUHAMMAD SAIFUL FURQAN, Sarjana Hukum

(Bachelor of Law), Magister Kenotariatan (Master of Notarial Law), Notary

practicing in Buleleng, in the presence of witnesses known to me, Notary, and whose

names will be mentioned at the closing part hereof: ---------------------------------

1. Mrs. BARBARA ANNE BARKER, born in Norwa, on 03-09-1952 (the third of

September nineteen fifty two), a Pensioner, Australian Citizen, Holder of

Passport Number: N2847129 which will be expired on 25-05-2020 (the twenty

fifth of May two thousand and twenty), and Temporary Stay Permit Card

(KITAS) Number NIORA : E1U1JDR08549, residing at Villa Beijo 35 D, Jalan

Plawa Seminyak Kuta, Badung, Bali, of which Passport for this purpose has

been presented to me, Notary; ---------------------------------------

2. Mr. GARY WILLIAM EMERSON, born in Perth, on 16-12-1947 (the sixteenth of

December nineteen forty seven), Pensioner, Australian Citizen, Holder of

Passport Number: N8978237, which will be expired on 21-11-2023 (the twenty

first of November two thousand and twenty three), residing in Perth (at 7

Cooper Street Mullalo, Perth 6027, Western Australia), of which Passport for

this purpose has been presented to me, Notary;

- temporarily residing in Badung; hereinafter shall be referred to

--------------------------------- First Party - Lessor. ----------------------------

3. Mr. FRANCOIS ANDRE LEYRAVAUD, born in Paris 16E Arrondissement, on 18-

07-1955 (the eighteenth of July nineteen fifty five), a Pharmacist, French Citizen,
 residing at 1 Route De Pont Aux Dames 77860 Quincy-Voisins, France, Holder of

Passport Number: 16AV13165, issued by the French government, which expires

on 18-04-2026 (the eighteenth of April two thousand and twenty six), of which

Passport for this purpose has been presented to me, Notary; ------

-temporarily residing in Badung; ---------------------------------------------------------

4. Mr. DOMINIQUE JEAN DELOISON, born in Nemours, on 29-08-1957 (the twenty

ninth of August nineteen fifty seven), an Engineer, French Citizen, residing at 1

Route De Pont Aux Dames 77860 Quincy Voisins, France, Holder of Passport

Number: 11CV58406, issued by the French Government and expires on 05-10-

2021 (the fifth of October two thousand and twenty one), of which Passport for

this purpose has been presented to me, Notary; --------------

-temporarily residing in Badung; --------------------------------------------------------

------------------------------------------ Second Party - Lessee. -------------------------

-The appearers are known to me, Notary. ----------------------------------------------

-The First Party firstly explains: -----------------------------------------------------------

-Whereas the First Party is the legitimate holder of the Leasehold Right on a plot

of land which will be mentioned and described below, of which the Leasehold Right

history is contained in the following documents or deeds: ---

- based upon the Deed of Lease Agreement Number : 31, dated 04-11-1999 (the

fourth of November nineteen ninety nine) drawn up before I KETUT SENJAYA,

Sarjana Hukum, Notary practicing in Denpasar with Lease period expired on 01-

12-2012 (the first of December two thousand and twelve); -----

-whereas the lease period has been extended for 20 (twenty) years based upon

the Deed of Lease Agreement Extension, Number : 105, dated 24-03-2009 (the

twenty fourth of March two thousand and nine), drawn up before EDDY NYOMAN
WINARTA, Sarjana Hukum, Notary in Badung Regency, hence, the lease period

will be expired on 01-12-2032 (the first of December two thousand and thirty two);

-whereas the lease period has been extended once again for a 7 (seven)-year

period as contained in the Second Extension of the Lease Agreement dated 20-

04-2010 (the twentieth of April two thousand and ten), drawn up subrosa, over a

sufficient stamp duty and has also been certified by EDDY NYOMAN WINARTA’s

office, Sarjana Hukum, Notary practicing in Badung Regency, Number :

3799/Pendaftaran/2010, dated 29-04-2010 (the twenty ninth of April two thousand

and ten), hence, the aggregate lease period shall be expired on 01-12-2039 (the

first of December two thousand and thirty nine) :------------------------------

-Whereas the First Party obtains the Leasehold Right based upon the Deed of

Transfer and Assignment of Leasehold Right Number : 14, dated 02-06-2010 (the

second of June two thousand and ten) with the Lease Period will be expired on 01-

12-2039 (the first of December two thousand and thirty nine) :----------------------

-whereas the plot of land that becomes the Lease Object contained in the deeds or

documents is described as follows : ------------------------------------------

-Part of a plot of land with total area of 1,500 M2 (one thousand five hundred

square meters), under SPPT (Notification of Tax Due) Number:

51.03.010.006.011-0095.0/99-01. Class A23/A15 of a land area of 3,081 M2

(three thousand eighty one square meters) together with building thereon with

the following borders: ------

- Northern side : land belongs to I NYOMAN RENDI; ----------

- Eastern side : land belongs to WAYAN RESMIAN; ---------

- Southern side : Gang Plawa; ----------------------------------------

- Western side : part of land belongs to I MADE SUROMA,

 I WAYAN SUWENA and WAYAN RESMIAN; ---

Located in Bali Province, Badung Regency, Kecamatan Kuta, Kelurahan

Seminyak; --

-Locally known as Jalan Seminyak Gang Plawa ; ----------------------------

- Certificate for the foregoing land has been processed by the issuance of

the Freehold Title Number : 1491/Seminyak as described in the Survey

Certificate Number : 01329/Seminyak/2012, dated 26-03-2012 (the twenty

sixth of March two thousand and twelve), with total area of 2,230 m2 (two

thousand two hundred thirty square meters) located in Bali Province,

Badung Regency, Kecamatan Kuta, Kelurahan Seminyak, in the name of I

MADE SUROMA and I WAYAN SUWENA issued by Head of Land Office of

Badung Regency dated July 23, 2012; -------------

- whereas the First Party explains that the building upon the land is a Villa which is

also known as Villa Beijo 35 D; -------------------------------------------------

- whereas the First Party intends to transfer and assign Leasehold Right of the

foregoing object and anything appurtenant thereto or anything therein to the

Second Party; ----------------

- whereas the parties intend to contain the same into a Notarial Deed; -----------

- in regard to the foregoing matter, the First Party hereby transfers and assigns to

the Second Party and the Second Party hereby accepts the transfer and

assignment from the First Party, the leasehold right on: -----------

-part of the plot of land under the Freehold Title Number : 1491/Seminyak,

with total area of 1500 M2 (one thousand five hundred square meters), from

the plot of land with total area of 2,230 m2 (two thousand two hundred thirty

square meters) located in Kelurahan Seminyak, Kecamatan Kuta, Badung

 Regency, Bali Province, in the name of I MADE SUROMA and I WAYAN

SUWENA, as declared in the freehold title issued by Head of Land Office of

Badung Regency dated 23-07-2012 (the twenty third of July two thousand

and twelve), -------------------------------------------------------

-Along with any objects built and embedded upon the leased land which

according to the nature, purpose, designation or the applicable laws and

regulations are deemed as immoveable assets especially the house and

anything appurtenant thereto or anything therein; -------

Which subsequently known as the Villa Beijo Jalan Plawa Gang Melati, 35 D,

hereinafter referred to as the OBJECT; ---------------------------------------------

-The transfer and assignment of the leasehold right according to both parties have

been made and accepted under the terms and conditions as agreed upon by both

parties as follows: ------

--------------------------------------------------- Article 1. ------------------------------------

-The Leasehold Right transferred and assigned shall be in effect as of –------

.to 01-12-2039 (the first of December two thousand and thirty nine): -----------

---------------------------------------------------- Article 2. -----------------------------------

-The transfer and assignment of the leasehold right have been made and

accepted at price of Rp.1,500,000,000.- (one billion five hundred million rupiahs),

the amount of which has been fully received by the First Party from the Second

Party before the execution hereof and the receipt of which by the parties hereto

have been acknowledged as a lawful receipt. --------

--------------------------------------------------- Article 3. ------------------------------------

-Commencing from the foregoing date as referred to in article 1, anything

transferred and assigned shall be at the possession of the Second Party and
commencing from this day any profits obtained and any losses suffered from

anything transferred and assigned shall be the right and obligation of the Second

Party. -----------------------------------------------------------------------

---------------------------------------------------- Article 4. -----------------------------------

-All rights and obligations contained in the Deed of Lease Number 31 dated

November 4, 1999, the Deed of Lease Extension Number 105 dated March 24,

2009, the Second Extension of the Lease Agreement drawn up subrosa dated April

20, 2010, and the Deed of Transfer and Assignment of Leasehold Right dated 02-

06-2010 (the second of June two thousand and ten) Number 14 above, which shall

apply to the First Party, by the existence of this transfer and assignment of the

leasehold right shall fully apply to the Second Party. -----

--------------------------------------------------- Article 5. ------------------------------------

-The First Party warrants to the Second Party: ---------------------------------------

a. Whereas the leasehold right transferred and assigned truly exists and

persistently valid until 01-12-2039 (the first of December two thousand thirty

nine). ---------------------------------

b. Whereas presently or in the future the Second Party will not be claimed by

any other party stating that it has the first right or co-owns a right on the

transferred and assigned leasehold right, and therefore, the Second Party

hereby is indemnified by the First Party of any claims and lawsuits of any other

parties in relation thereto. ---------------------------------

--------------------------------------------------- Article 6. ------------------------------------

-The transfer of anything transferred and assigned has been made pursuant to the

laws. -------

-------------------------------------------------- Article 7. -------------------------------------

-Costs arising out of this deed shall be borne and paid by the Second Party, Tax on

Land and Building of 2017 shall be paid proportionally and at the responsibility of

the First Party and the Second Party, for subsequent years it shall be at the

responsibility of the Second Party only in regard to total area of the foregoing

leased object, while Income Tax (PPh) imposed to the Transfer and Assignment of

Leasehold Right shall be borne and paid by the First Party. -------

---------------------------------------------------- Article 8. -----------------------------------

-The parties hereby declare and warrant the trueness and validity of all residential

identity cards and any other certificates/documents provided/presented to me,

Notary and the parties shall fully be responsible for the matter and declare to hold

the Notary harmless from all lawsuits in regard to the trueness and validity of the

residential identity cards and any other certificates/documents and the parties

have also understood and comprehended the content hereof. --------------------------

- Should invalidities be subsequently found thereto, the parties shall expressly hold

me, Notary and the witnesses harmless from all claims and lawsuits in any form

whatsoever and form any other party. ------------------------

--------------------------------------------------- Article 9. ------------------------------------

-In the event of the lease period expires, the Second Party shall be given the first

priority to extend the lease period directly to the landlord for a 20 (twenty)-year

period under the terms and at the current market price.---------

--------------------------------------------------- Article 10. ----------------------------------

- In the event of this lease expires or is cancelled, the Second Party shall evacuate

the building from all occupants and goods/furniture within 14 (fourteen) days after

the expiration or cancelation date of the lease. -----------

-In the event of after expiration of the determined evacuation period the building is

not emptied, then the expiration of the evacuation period shall sufficiently be a

concrete evidence of the Second Party’s negligence, hence, neither warning from

a bailiff nor any other documents shall be required, then the First Party shall have

the right to empty the building by himself. If necessary, by assistance of law

enforcement officers and all costs incurred for such purpose shall fully be borne

and paid by the Second Party.------------

--------------------------------------------------- Article 11. ----------------------------------

-In the event of either party passes away prior to a full implementation hereof, this

agreement shall automatically be proceeded and in effect between the surviving

party and heir of the deceased party or among heirs of the parties in the event of

both parties pass away. ----------------------------------

--------------------------------------------------- Article 12. ----------------------------------

-In regard to this agreement and all consequences thereof, the parties select a

valid and fixed legal domicile at District Court Office of which jurisdiction covers

the location of the Land. ----

--------------------------------------------------- Article 13. ----------------------------------

-Any other provisions contained in the Deed of Lease Agreement, the Deed of

Lease Agreement Extension, and the Second Extension of Lease Agreement, as

mentioned above shall be persistently in full force and effect.

----------------------------------------- IN WITNESS WHEREOF. ------------------------

was drawn up and executed in Badung, on the day and date as mentioned at

preamble hereof, in the presence of Mr. GEDE OKVA WIGUNA, born in Celukbuluh,

on 03-10-1991 (the third of October nineteen ninety one) and Ms. KETUT PUSPA

DEWI ANDRIANI, born in Kalibukbuk, on 18-06-1995 (the eighteenth of June

nineteen ninety five), both are employees of the Notary, residing in Buleleng, acting

as witnesses. --------------------------------------

- This deed, having read out by me, Notary to the appearers and the witnesses,

then this deed was forthwith signed by the appearers, the witnesses and me,

Notary.

- Drawn up with two alterations without any addition and strike. --------------------

- The original deed was duly signed. ----------------------------------------------------

- Issued as a true copy. --------------------------------------------------------------------