For and in consideration of the receipt of a deposit in the amount of One Thousand and 00/100 Dollars ($1,000.00) Declarant hereby agrees to reserve for Purchaser an unidentified Unit in that residential condominium project known as Bonney’s Quay, a condominium, located in Virginia Beach , Virginia. The Unit will be subject to the provisions of the Declaration, Bylaws, Plats, and Plans, which will be recorded in the Clerk's Office of the Circuit Court of the City of Virginia Beach, Virginia (“the Condominium Documents’).

The Purchaser understands and agrees that no final plans for the Units are currently available. The Purchaser will be provided the proposed plans and price schedule when completed and approved by all necessary parties. A unit selection process will be announced after the plans are completed and prices are established. Upon receipt of your reservation the Declarant will assign a number to your reservation. An opportunity to purchase particular units will be given to you based on your assigned number, beginning with the first reservation received and ending with the last reservation received. The Purchaser further understands that the condominium documents must be approved by the Virginia Real Estate Board (VREB). The Declarant cannot, at this time, commit to a date for providing final plans or an anticipated closing date. On or before fifteen (15) days of completion of the Condominium Documents and submission of same to VREB, the Declarant will provide a Non-Binding Reservation to Become a Contract of Purchase to Purchaser which will fix the price and terms of the purchase of the unit expressly subject to the issuance of the registration letter by the VREB, review of an approved Public Offering Statement and noting that it remains non-binding. Immediately after the registration letter is issued by the Virginia Real Estate Board, the Declarant will deliver to Purchaser the Public Offering Statement approved by the VREB and the purchaser shall acknowledge receipt of same.

The Purchaser understands that upon entering into a Non-Binding Reservation to Become a Contract of Purchase, which will fix the price and terms of purchasing a specific unit, the Purchaser must be pre-qualified through the Declarant’s preferred lender. The Purchaser understands that, after pre-qualification, the Purchaser is under no obligation to use Declarant's preferred lender.

WITNESS the following signatures:

PURCHASER:

Name:

Email Address:

Phone:

Date:

Address:

City, State, Zip

DECLARANT:

BQI Group Inc.

By:


Date:


Authorized Representative

Listing Agents

Jenny Lovell
Rose and Womble Realty

Linda Anderson
Rose and Womble Realty

Selling Agent:

Name

Company: