EVERMARK COMPANY LIMITED

CANCELLATION POLICY

1.Purpose

This Cancellation Policy governs the cancellation of plot applications, reservations, and sale transactions between Evermark Company Limited ("Evermark") and prospective purchasers ("Buyer")

and shall be read together with the Evermark Land Sale Terms & Conditions.

2.Legal Framework

This Policy is governed by and shall be interpreted in accordance with the laws of the United Republic of Tanzania, including but not limited to:

a.The Land Act, Cap. 113 [R.E.2023];

b.The Land Registration Act, Cap. 334 [R.E. 2023];

c.The Law of Contract Act, Cap. 345 [R.E. 2023];

d.Any applicable regulations, directives, and subsidiary legislation issued thereunder.

3.Cancellation Before Plot Selection

Payment of the application fee grants the Applicant the right to select a plot within twenty-four (24) hours from the date of payment.

Where no plot is selected within the prescribed period, the application shall automatically lapse and the plot shall remain available for allocation to other prospective buyers.

4.Cancellation After Plot Selection

An Applicant may elect not to proceed with the purchase after selecting a plot and before making the required initial payment.

In such event:

a.The reservation shall automatically terminate;

b.The selected plot shall be released and returned to the market;

c.Any refund entitlement shall be determined strictly in accordance with the Evermark Refund Policy.

5.Failure to Make Initial Payment

The Applicant shall make the required initial payment within fourteen (14) days from the date of plot selection.

Failure to make such payment shall constitute abandonment of the reservation and shall result in:

a.Automatic cancellation of the reservation;

b.Immediate release of the plot for resale;

c.Application of the Evermark Refund Policy where applicable.

6.Voluntary Cancellation by Buyer

A buyer who has made payment toward the purchase price may request cancellation by submitting a written notice to Evermark.

Upon acceptance of such request:

a.The transaction shall be deemed terminated;

b.Evermark shall be entitled to repossess and reallocate the plot;

c.Any refund entitlement shall be governed by the Evermark Refund Policy.

7.Failure to Complete Payment

The Buyer shall pay the full purchase price within ninety (90) days from the date of the initial payment unless otherwise agreed in writing.

Failure to complete payment within the prescribed period shall constitute a material breach of contract and shall entitle Evermark to:

a.Rescind the sale transaction;

b.Cancel the reservation and allocation of the plot;

c.Repossess the plot;

d.Reallocate, resell, or otherwise dispose of the plot;

e.Exercise any rights and remedies available under the Land Act, Cap. 113 and the Law of Contract Act, Cap. 345.

8.Cancellation by Evermark

Evermark reserves the right to cancel any application, reservation, or sale transaction where:

a. False, misleading, or fraudulent information has been provided;

b. Payments are made through unauthorized channels;

c. The Buyer breaches any provision of the Terms & Conditions or applicable agreements;

d. The transaction becomes unlawful or incapable of completion due to regulatory, governmental, judicial, or force majeure events;

e. The plot becomes unavailable due to circumstances beyond Evermark's reasonable control.

9.Effect of Cancellation

Upon cancellation:

a. The Buyer shall immediately cease to have any claim, right, or interest in the plot;

b. Evermark shall be entitled to deal with the plot as it deems fit;

c. Any refund shall be governed exclusively by the Evermark Refund Policy.

10.No Transfer of Ownership

For avoidance of doubt, no ownership rights, rights of occupancy, derivative rights, leasehold interests, or any other registrable interest in land shall pass to the Buyer until:

a. Full payment has been received by Evermark;

b. All contractual obligations have been fulfilled; and

c. All statutory transfer and registration requirements under Tanzanian law have been completed.

11.Dispute Resolution

Any dispute arising from this Policy shall first be resolved amicably through good-faith negotiations.

Where no settlement is reached within thirty (30) days, the dispute shall be referred to the courts of competent jurisdiction in the United Republic of Tanzania.

12.Acceptance

By submitting an application, reserving a plot, or making any payment to Evermark, the Applicant or Buyer acknowledges that they have read, understood, and accepted this Cancellation Policy.