Terms:

1. In order to facilitate the sale of apartments in different projects, Gashem LeMishkan Ltd., along with its group companies, partner companies, sister companies, or subsidiaries (each project being owned by a specific company), conducted the sales process. This regulation governs the entire process, subject to its provisions. For further information about the promotion, please contact the company's offices at Masada 7, Bnei Brak, or call *9195.

2. Definitions:

• The bank: Either Bank Leumi Israel Ltd., Bank Hapoalim Ltd., or any other bank chosen at the sole discretion of the company, as specified in the sales agreement.
• Apartment: A residential unit within the project, selected from a limited stock of apartments available for marketing, at the sole discretion of the company at that given time.
• The sale: A transaction conducted by the company to promote the marketing of apartments.
• The sales agreement: An agreement, along with its appendices, for the purchase of an apartment in the project. The agreement will be in the most recent version provided by the company from time to time.
• Participant: An individual who is at least 18 years old at the time of application, or a corporation that has applied to the company to take advantage of the promotional benefits within the specified period, all subject to and in accordance with the provisions outlined in these regulations.
• Purchaser: An individual who is at least 18 years old at the time of application, or a corporation that signed the sales agreement during the promotional period, as defined below.
• The sales agreement: A contract for purchasing an apartment within the project, including its appendices, in the most updated version held by the company at various times.

• Participant: An individual who is at least 18 years old at the time of application, or a corporation that has submitted an application to the company to avail themselves of the promotional benefits during the specified period. All participants must comply with and adhere to the regulations outlined.

• Purchaser: An individual who is at least 18 years old at the time of application, or a corporation that signed the sales agreement within the defined promotion period, as specified below.

3. Interpretation:

• In the event of any conflict or discrepancy between the regulations and any other promotional materials, regardless of the means of publication, the provisions stated in the regulations will take precedence.

• The section headings are provided for convenience and reference purposes only, and they do not carry any significance in terms of interpreting the regulations.

• The regulations are written in masculine language for convenience, but any references made in the masculine form also include the feminine form.

4. Promotion period:

• The promotion period will commence on March 28, 2023, and will conclude on June 30, 2023, or upon the completion of the sale of 10 apartments within the project, unless otherwise determined.

• The company reserves the right to extend the promotion period at its discretion to increase the availability of apartments for sale beyond the aforementioned period.

• The company holds the sole discretion to halt the promotion at any time.

• The company may, at its sole discretion, extend the promotion period.

• The company may, at its sole discretion, cease the benefits outlined in section 5 below in one or both routes, and/or make modifications to all or a portion of it.

5. Terms of the benefit:

• The promotion is designed for all participants, as defined earlier, who meet the eligibility criteria outlined in section 6 below.

• Any participant who signs the sales agreement during the promotion period, subject to the provisions stated above and below, will have the opportunity to purchase an apartment within the project under the following conditions:

• Upon signing the sales agreement, the buyer must make an equity payment of no less than 20% of the specified consideration, as outlined in the sales agreement and in accordance with the payment schedule provided.

• Subject to approval from the bank, the participant will be eligible for a mortgage loan of up to 60% of the specified consideration in the sales agreement or up to a maximum of NIS 2,000,000. This loan will be utilized to finance the purchase of the apartment.

• The loan term will be either 15 years or 20 years, as determined by the company's prior decision.

• The participant will be subject to a fixed interest rate of 2.5% throughout the loan term, unless otherwise agreed upon between the parties, and this rate will be linked to the consumer price index.

• The company will be responsible for covering the remaining interest costs to the bank, as per the agreement established between them.

• All other loan payments, as agreed upon between the participant and the bank, will be the participant's responsibility.

• The monthly payments for the loan will be solely the participant's obligation for the entire loan term.

• The participant can only repay the loan in accordance with the conditions specified by the bank.

• The remaining portion of the consideration outlined in the sales agreement, regardless of its amount, will be paid by the buyer based on the payment schedule provided in the sales agreement.

• The benefit is specifically applicable to the acquisition of apartments within the project, chosen from the inventory of apartments available for marketing, which are accessible to the company solely at its discretion during that specific timeframe.

• In order to qualify for the benefit in either route, participants must sign the sales agreement within the designated promotion period.

• It's important to note that the promotion does not extend to the purchase of apartments within the project from third parties unrelated to the company.

6. Eligibility conditions:

• During the promotion period, participants will be required to sign a sales agreement with the company to purchase an apartment within the project. The sales agreement must be in the approved form as determined by the company.

• To qualify for the benefit, participants must obtain loan approval from the bank before signing the sales agreement. The coordinator will guide participants to the bank to facilitate the loan approval process.

• Only loan applications submitted through the coordinator will be considered valid for eligibility for the benefit.

• It is important to note that, without a preliminary loan approval from the bank, participants will not be able to receive the benefit as part of the sales agreement.

• Participants will receive loan approval from the bank once they have been contacted by the coordinator.

7. Clarifications:

• The aforementioned benefit applies to the purchase of a single apartment within the project. If a participant intends to acquire multiple apartments within the project, they may utilize the benefit for each apartment they purchase, provided they meet the conditions specified in these regulations. It is important to note that promotions, discounts, and benefits, including those for company employees entitled to special discounts as per the employee discount regulations, cannot be duplicated.

• For each individual apartment purchase, only one benefit entitlement can be utilized, even if the apartment is jointly purchased by multiple buyers, including spouses, family members, and others. The benefit is strictly personal and non-transferable.

• The participant has the option to decline the benefit. However, if the participant chooses not to utilize or fails to utilize the benefit according to the specified dates and conditions, they will not be entitled to any other rights or benefits.

• The provisions of this regulation do not in any way diminish the terms outlined in the sales agreement.

• A buyer or participant who fails to comply with the terms stated in these regulations, violates the sales agreement, or has their sales agreement canceled for any reason or invalidated for any other cause, will not be eligible to participate in the promotion.

• The company, at its sole and complete discretion, reserves the right to refuse the exercise of the benefit, either in whole or in part, by a purchaser or participant who has violated the sales agreement or had their sales agreement canceled for any reason. Additionally, the company may deny the benefit to individuals who have acted contrary to the provisions outlined in these regulations, including any attempts to unlawfully transfer their rights to a third party.

• Any tax obligations arising from the receipt and/or utilization of the benefit provided within the promotion, or any portion thereof, will solely be the responsibility of the participant. It is the participant's full responsibility to address any taxation matters with the relevant tax authorities.

• In the event of any discrepancies or disagreements between the parties, the company's representative will be appointed at their sole discretion. The decision made by the representative will be final and binding on all parties involved.

• The provisions stated in these regulations encompass and cover all the conditions of the promotion in their entirety.

• No other document, including publications, can modify or supplement these regulations. If any contradiction arises between any publication and the provisions stated in these regulations, the regulations themselves will prevail.

8. By signing the sales agreement, the participant affirms the following:

• They are aware that the company maintains a database in accordance with the Privacy Protection Law of 1981, and they confirm that all the details, data, information, and documents provided or to be provided to the company regarding the operation and/or the purchase agreement (referred to as "the information" below) are given voluntarily and with their full consent, without any legal obligation to do so.
• They acknowledge that the company and/or its authorized representatives, including entities providing various services such as data processing, collection, and management, will use the information, and they express their consent to this.
• As the participant agrees, the company is authorized to disclose any necessary information to the government of Israel, its representatives, or any authorized authority, in connection with the operation, purchase request, or purchase agreement. The company will also allow them to review relevant accounts and files pertaining to the operation, purchase request, or sales agreement, if the company deems it necessary to fulfill its obligations under any applicable law or administrative notice.

• The participant acknowledges that the disclosed information may be subject to discovery and presentation in accordance with a court order. It is important to note that this section, both above and below, serves as the company's notice to the participant/purchaser as outlined in section 11 of the Privacy Protection Law of 1981.

• Because the participant is aware that the information provided by them, as mentioned above, will also be included in an additional database owned by the company, used for direct mail services either by the company or on its behalf.

• The participant acknowledges that the company or its representatives may contact them in the future via direct mail, as specified in the aforementioned database, even regarding matters unrelated to the operation or sales agreement.

• The participant understands that they have the right to request their removal from this database or to restrict the disclosure of their information to specific individuals, types of individuals, or certain groups, for a limited or predetermined period. To exercise this right, the participant must provide explicit written notice to the company.

9. Various:

• Copies of the promotion regulations can be obtained at the company's offices.
• These regulations are governed by the laws of the State of Israel, and any disputes or matters related to the provisions of these regulations or the benefit will be exclusively under the jurisdiction of the courts in Haifa.

1. General:

• In order to facilitate the sale of apartments in different projects, the promotion was carried out by Gashem LeMishkan Ltd. and/or its affiliated group companies, partner companies, sister companies, or subsidiaries (each project being under the ownership of the respective company). Hereinafter, referred to as "the company." All activities are conducted in accordance with the provisions outlined in these regulations.

• For further information about the promotion, please feel free to contact the company's offices at Masada 7, Bnei Brak, via phone at *9195.

2. Definitions:

• The bank – Bank Leumi Israel Ltd. or Bank Hapoalim Ltd. or any other bank, as determined solely by the company in accordance with the specifications outlined in the sales agreement.

• Apartment – a residential unit within the project, sourced from a limited inventory of apartments available for marketing, at the sole discretion of the company.

• The promotion – a marketing campaign initiated by the company to promote the sale of apartments in the project.

• The coordinator – the designated contact person responsible for coordinating with the bank, whose information will be provided to the participant by the company prior to contacting the bank for loan approval.

• The project – any project selected by the company.

• The regulations – these specified regulations.

• The benefit – the advantage offered in this promotion, as outlined in section 5 below.

• The sales agreement – a contractual agreement for purchasing an apartment within the project, including its associated appendices. The agreement will be the most recent version in the company's possession.

• Participant – an individual who is at least 18 years old at the time of application, or a corporation that has applied within the promotion period to avail themselves of the benefit. All participants are subject to and must comply with the provisions stated in these regulations.

• Purchaser – an individual who is at least 18 years old at the time of application, or a corporation that has signed the sales agreement within the specified promotion period, as defined below.

3. Interpretation

• In the event of any conflict or discrepancy between the provisions of these regulations and any other promotional materials, the regulations shall take precedence.

• The section headings are provided for convenience and organizational purposes only, and they do not carry any significance in the interpretation of the regulations.

• The regulations are written in masculine language for convenience purposes, but it is understood that all references in the masculine form also include the feminine form.

4. Promotion Period

• The designated promotion period is scheduled to commence on March 28, 2023, and conclude on June 30, 2023, or upon the completion of the sale of 10 apartments in the project, whichever comes first, unless otherwise determined.

• The company retains the right to extend the duration of the promotion period at its discretion, should there be a need to increase the availability of apartments for sale beyond the aforementioned timeframe.

• At its sole discretion, the company reserves the right to terminate the promotion at any given time.

• The company also holds the authority to exercise its sole discretion in extending the promotion period.

• Furthermore, the company may, at its sole discretion, discontinue the benefit outlined in section 5 below, in any of the channels or both, and/or make alterations to all or part of it.

5. Terms of the Benefit:

• The promotion is open to all participants, as previously defined, who fulfill the eligibility criteria outlined in section 6 below.

• Any participant who signs the sales agreement during the promotion period, in compliance with the prevailing provisions of these regulations, will have the opportunity to acquire an apartment in the project, subject to the following conditions:

• Upon signing the sales agreement, the buyer is required to provide a minimum equity payment equivalent to 5% of the specified consideration as stipulated in the sales agreement. This payment should align with the payment schedule detailed in the agreement.

• Upon receiving approval from the bank, the participant will be eligible for a "balloon" loan to finance the purchase of the apartment, up to 60% of the consideration specified in the sales agreement or a maximum of NIS 2,000,000.

• The loan periods will be determined by the company in advance, taking into account the project's status.

• The company will cover the interest costs for the agreed-upon period.

• The loan balance will be linked to the consumer price index, unless otherwise agreed upon by both parties.

• All other loan payments, as mutually agreed between the participant and the bank, will be the responsibility of the participant.

• Repayment of the loan at the end of the term will be the participant's responsibility.

• The participant can only repay the loan subject to the conditions set by the bank.

• The remaining consideration stated in the sales agreement will be paid by the buyer according to the specified payment schedule in the agreement.

• The benefit is applicable to the acquisition of an apartment in the project, chosen from the inventory of apartments available for marketing, at the sole discretion of the company.

• To be eligible for the benefit, participants must sign the sales agreement within the promotion period, as a condition for each route.

• The promotion does not extend to the purchase of apartments in the project from third parties not affiliated with the company.

6. Eligibility Requirements:

To be eligible for the benefit, participants must meet the following conditions during the promotion period:

• Sign a sales agreement for the purchase of an apartment from the company in the project using the approved form provided by the company.
• Obtain loan approval from the bank before signing the sales agreement. Participants will be directed to the bank by the coordinator for this purpose.
• Submit the loan application through the coordinator to the bank. Only applications submitted through the coordinator will be considered valid for eligibility.
• It is important to note that without a preliminary loan approval from the bank, participants will not be able to receive the benefit when signing the sales agreement.
• Participants will receive loan approval from the bank after being contacted by the coordinator.

Please ensure that you fulfill these eligibility requirements to qualify for the benefit.

7. Clarifications on the Benefit:

• The benefit, as described previously, is applicable to the purchase of a single apartment in the project. If a participant intends to buy multiple apartments in the project, they may utilize the benefit for each apartment they purchase, provided they adhere to the conditions outlined in these regulations. It is important to note that there will be no duplication of promotions, discounts, or benefits, including those offered to company employees as per the employee discount regulations.

• For each apartment purchased, the entitlement to the benefit can only be utilized once, regardless of whether the apartment is jointly purchased by multiple buyers, such as spouses or family members. The benefit is strictly personal and non-transferable.

• While the participant is not obliged to receive the benefit, it should be understood that if they choose not to utilize the entitlement or fail to do so within the specified dates and conditions, they will forfeit any other rights or benefits associated with it.

• The participant alone bears full responsibility for any applicable taxation liability arising from receiving and/or realizing the benefit provided as part of the promotion. It is their duty to address such matters directly with the tax authorities.

• In the event of any discrepancies or disagreements between the parties, the company's representative will be designated at their sole discretion, and their decision will be final and binding for all parties involved.

• The regulations presented here encompass all the conditions of the promotion in their entirety, leaving no room for additional or contradictory provisions in any other document, including publications. Should any contradiction arise between a publication and the regulations, the provisions stated within these regulations shall prevail without exception.

 

8. Participant Statements:

By signing the sales agreement, the participant affirms the following statements:

• The participant is aware that the company operates a database in accordance with the Privacy Protection Law 1981-1981. The participant confirms that all the details, data, information, and documents provided or to be provided to the company regarding the operation and/or the purchase agreement ("the information") will be voluntarily and freely given without any legal obligation.

• The participant acknowledges that the company and/or its authorized representatives, including entities rendering various services such as data processing, collection, and management, will utilize the information. The participant expresses their consent to such utilization.

• By accepting these terms, the participant acknowledges and agrees that the company may disclose any necessary information, related to the operation, purchase request, or sales agreement, to the government of Israel, its representatives, or any authorized authority. Additionally, the participant understands that the company may allow them to review its accounts and files associated with the operation, purchase request, or sales agreement, if the company believes it is required to fulfill its legal obligations under applicable laws and administrative notices.

• The participant is aware that the disclosed information may be subject to discovery and presentation in accordance with a court order. It is important to note that the content of this section, both above and below, serves as the company's official notice to the participant/purchaser in compliance with Section 11 of the Privacy Protection Law 1981-1981.

• The participant acknowledges that the information provided by them, as mentioned earlier, will also be stored in an additional database owned by the company. This database is utilized for direct mail services, either by the company itself or on its behalf.

• The participant is aware that they may receive future direct mail communications from the company or its representatives, as outlined in the mentioned database. These communications may cover topics unrelated to the operation or sales agreement.

• Furthermore, the participant understands their right to request removal from this database or to specify restrictions on the disclosure of their information to certain individuals or categories, for a specified duration. These requests can be made by providing a written notice to the company.

9. Various:

• Copies of the promotional regulations can be obtained at the company's offices.

These regulations are governed by the laws of the State of Israel, and any disputes or matters relating to the provisions of these regulations or the benefits provided will be exclusively under the jurisdiction of the courts in Haifa.