1. Attachment D.
Details for Tropical D’Santo Cristo Beach Resort Phase I
Licensing
Financial
www.7resorts.com.br

2. Content...........................................................................................................................Page
Registro de Incorporacao document............................................................................................. 3
Reference: ................................................................................................................................. 3
Public notary office and address ........................................................................................... 3
Contact person: ..................................................................................................................... 3
INCORPORATION CERTIFICATE .............................................................................................. 3
Financial details Phase I ................................................................................................................ 4
Sales revenue ............................................................................................................................ 4
Details sales revenue units .................................................................................................... 4
Details Park Tropical .............................................................................................................. 4
Details Lake Tropical.............................................................................................................. 4
Details Duplex Bungalow....................................................................................................... 4
Details Beach Bungalow ........................................................................................................ 4
Details Vila Martin (commercial area) .................................................................................. 4
Construction cost ...................................................................................................................... 5
Administration cost during construction .................................................................................. 6
Estimated result / ROI ............................................................................................................... 6
NOTICE TO RECIPIENTS
This Information is provided to inform professional real estate investors about a specific investment, its structure and the details
surrounding the investment. This information is not produced or intended for members of the public or general circulation. This
document details an investment through the purchase of the complete project named Tropical D´Santo Cristo Beach Resort,
developed by Tropical D´Santo Cristo Resort Ltda. Prospective investors must rely on their own examination of the legal, taxation,
financial and other consequences of any investment in this development. Prospective investors should not treat the contents of
this information as advice relating to legal, taxation or other matters and, if in any doubt about the proposal discussed in this
information, its suitability, or what action should be taken, should consult a person qualified to advice on real estate investments
of this nature.

3. Registro de Incorporacao document
This document is the public document that every development project needs to have to be
able to legally operate and start the sales. The “Registro de Incorporation” process takes up to
many years to complete depending on the size of the project, and location. Normally beach
front projects needs much longer time to be approved than residential projects, due to the
very strict environmental regulations in Brazil for beach front properties.
When all public instances has approved a development, all the legal approval documents and
licenses are filed at the Notary Office in the municipality the development is located.
The original documents for Tropical D’Santo Cristo Resort Ltda are stored at the public office of
the Notary in Touros and register date was the 9th of August 2009.
Reference:
Public notary office and address
TOUROS PROPERTY REGISTRY
TOUROS COUNTY – RIO GRANDE DO NORTE
Rua Vereador Miguel Nery, 13,
ZIP CODE 59584-000
TOUROS/RN
BRAZIL
Phone: +55 84 3263-2354
Fax +55 85 3263-2256
Contact person:
CARLOS ROGÉRIO MACHADO DO NASCIMENTO
Email: snroficiounico@yahoo.com.br
INCORPORATION CERTIFICATE
OWNER: TROPICAL D’SANTO CRISTO RESORT LTDA
Registered in Book “2-T” (General Registry), under page 21, no R-3, in connection with
registration number 3.153.

4. Financial details Phase I
Sales revenue
The prices are distributed to sales agents. These prices are initial prices. Normally during
construction and the sales process the prices increases. It is expected that total sales revenue
will become higher than the numbers shown below.
Total sales revenue R$ 46,892,284,-
Sales revenue units R$ 44,107,283,-
Sales revenue Vila Martin R$ 2,785,000,-
Details sales revenue units
Park Tropical 23 apartments R$ 5,876,741,-
Lake Tropical 24 apartments R$ 7,060,617,-
Duplex Bungalows 36 units (detached bungalows) R$ 12,659,987,-
Beach Bungalows 29 units R$ 14,335,655,-
Bungalow no 12 (special version, 260m2) R$ 557,142,-
Details Park Tropical
2
Unit number m Unit price
PT 101 - 104 37 R$112,986.90
PT 105, 201, 301, 306 89 R$273,245.08
PT 202, 302 66 R$201,147.22
PT 203-206, 303-305 75 R$228,386.22
PT 401, 406 182 R$411,196.50
PT 402 126 R$332,063.55
PT 403 135 R$355,545.45
PT 404, 405 166 R$410,406.75
Details Lake Tropical
2
Unit number m Unit price
LT 101 - 112 82 R$250,098.03
LT 301 - 306 87 R$262,913.04
LT 401 - 406 140 R$413,660.52
Details Duplex Bungalow
2
Unit number m Unit price
1 - 11, 13 - 37 211 R$452,142.41
Details Beach Bungalow
2
Unit number m Unit Price
38 - 60 228 R$494,332.96
Details Vila Martin (commercial area)
This area is possible to sell individually as a commercial area. The 11 buildings of a total of
780m2 will be rented out for restaurants, shops and bars. The commercial area has a total of
2000m2

5. Construction cost
Total R$ 24.087.200,-
No
units m2 interno Price per m2 Tot cost
Beach Bungalow 29 120 1,400 4,872,000
Duplex Bungalow 36 140 1,400 7,056,000
Commercial area 11 buildings 1 712 900 640,800
Park Tropical apartments 23 70 1,400 2,254,000
Lake Tropical 24 90 1,400 3,024,000
1,132 17,846,800
No
units m2 externo Price per sqm Tot cost terrasse
Commercial area 11 buildings 1 3,000 500 1,500,000
3,000 1,500,000
preco por
Descripcao Unidades unidad Total
Preinstalacao tubos AC casa T1 e casa T2 (29 + 36 unidades x 3 quartos= 195 0 Incl
Preinstalacao tubos AC apto LT + PT (24 + 23 unidades) 92 0 Incl
Servicos preliminares/instalacão do canteiro de obras 70000
Muro de fechamento geral, 800m + 70m + 800m + 70m = 1740m x 3m altura 5220 80 417,600
Ponte para carros, reformada 320 425 136,000
Pontes de pedestres 1 35000 35,000
Passeios para pedestres(metros) 1100 70 77,000
Estacionamento e rua de veículos 3000 120 360,000
Palmeras 300 130 39,000
Paisagismo, plantas etc 850 40 34,000
Grama 25000 3 75,000
Movimento de terra 1 120000 120,000
Equipamentos elétricos e eletrônicos, móveis, luminárias, decoracões, etc 520 150 78,000
Piscina praia, 126m length 800 400 320,000
Piscina centro, 87m length 800 400 320,000
"Lagoa/Picina" a lado de Plaza Martin 1000 400 400,000
Piscina do Park Tropical 350 400 140,000
Quadras de padel 1 35800 35,800
Quadras de tennis 1 53000 53,000
Sistemas de seguranca 1 65000 65,000
Illumanicao externa e jardins 1 100000 100,000
Elevador Park Tropical 1 145000 145,000
Rede de distribuicão de água 1 100000 100,000
Estacoes de tratamento de esgoto, todos chalets, apartementos, e centro comercial 0 200000 200,000
Rede de distribuicão elétrica e telemática 135 2600 351,000
Rede de distribuicão de esgotos e águas pluviais 1 180000 180,000
Placas e caldeiras para instalacão de aquecimento solar 1 180000 180,000
Rede de combate a incêndio 1 140000 140,000
Grupo gerador 1 80000 80,000
Edificacões de apoio (casa de lixo e gás, casa do gerador, bombas e reservatório,
casa para medidores 1 21000 21,000
Antena Coletiva 1 8000 8,000
Guarita/Entrada 60,000
Torre de aque / mirante 1 400000 400,000
4,740,400.00

6. Administration cost during construction
Total R$ 590.330,-
Management per month months Total
Operational Manager R$ 6,800 26 R$ 176,800
Administrativa executivo R$ 2,300 26 R$ 59,800
Civil Engineer R$ 6,000 26 R$ 156,000
Legal service R$ 3,100 26 R$ 80,600
Accounting service R$ 1,260 26 R$ 32,760
Office rent R$ 1,845 26 R$ 47,970
Water, energy, internet, phones R$ 650 26 R$ 16,900
Other R$ 750 26 R$ 19,500
Total R$ 590,330
Estimated result / ROI
Sales Revenue R$ 46,892,284
construction cost R$ 24,087,200.0
1
Commissions to pay sales network R$ 3,047,998
Pre paid sales tax "Receita Federal" Brazil R$ 2,813,537
Operational cost adm & Management R$ 590,330
Total cost R$ 30,539,065
Net profit after tax in Brazil, Phase I R$ 16,353,218
1
We have not considered the tax on commissions for sales agents paid abroad. According to
the tax regulations in Brazil, the developer will pay 25% tax of the total commission value
transferred from Brazil to agents abroad.