MEMBERSHIP TERMS GOVERNING PROCESSES PRIVATE AND DIRECT SALES AUCTIONS PROPERTY OF STOCK-SUBASTAS.COM

The contract of participation in any auction and direct sales of properties managed by  the operator D. David Vila Jorge Ramirez, with ID No. 47049919-S under the tradename STOCK-SUBASTAS.COM (hereinafter MANAGER), implies acceptance of
these general conditions of accession processes governing auctions or direct sales to which being involved, which are composed of the following provisions:

FIRST. -Object. These general conditions of accession is to establish the rules governing participation, completion of tenders (bids), implementing and award auctions  of real estate offered for sale by private auction system carried out by the Manager,  award and direct sale declared void if the auction at the end of it or the auctions  managed simultaneously with the direct purchasing system by the bidder.

SECOND. -Definitions. For better understanding of the general conditions of accession shall apply:

a) Private Auction: system whereby MANAGER puts sale of real estate owned by its  customers and with sufficient authority by them, for a starting price of output for a  period of acceptance of bids, in which any applicant satisfying the requirements to  qualify as a bidder may make your offer for a particular security, getting the award the  bidder who makes the best financial offer.

b) Bidder: natural or legal person who bid in the auction by committing to a firm paying  a certain price for the property for sale.

c) Bid: The financial bid and concrete firm that performs the bidder for the purchase of  the property at auction, that should be the best among the proposals involve irrevocable purchase commitment by those who practice it.

d) Starting price: the initial price at which they may make bids for the properties offered  for sale by private auction system.

e) Period for acceptance of bids: period within which the bidder may make its financial  offer to participate in the auction. Concluded the same, there shall be no offer later. During this time the bidder may improve your bid even if you have made a preliminary offer pending acceptance period ends Bidding.

f) Award: the declaration of the private auction won the bidder who has made the best  financial offer in the auction process.

g) Auction deserted if admission ended Bidding period had not made a single bid at the  end of this auction will be declared void, from the building to the situation of direct sales  by the initial price of output.

h) Direct sales: system whereby MANAGER puts sale of real estate owned by its  customers and with sufficient authority by them, which can operate simultaneously with  the auction or privately, having the peculiarity of having a selling price fixed minimum  acceptable for the property, with which to purchase the tender was awarded the  property immediately to the bidder, being auctioned off immediately.

THIRD. -Participation in auctions. To participate as a bidder in auctions organized by the Manager, the bidder must sign the contract of participation for this purpose draw the Manager, which will be set in all specific conditions of participation.

FOURTH. -Signing of contract for participation in private auctions and direct sales.

1. The signing of the participation in auctions and direct sales promoted by the Manager, will involve an irrevocable commitment to purchase for the subscriber in the event that the bid you make, whether it represents the best economic proposals and enters so declare the end of the period for acceptance of bids and offers for direct purchase you make. That irrevocable commitment to purchase is effective against both the Manager and owner versus owner of the property offered for sale.
2. The contract of participation shall be in duplicate, with a copy to the Manager and another copy to the bidder. Any modification, alteration or ultimately any change regarding the terms of the partnership contract must always be in writing and by mutual agreement between the parties.
3. If participation in the auction is sought through the website www.stocksubastas.com, once the online registration process by the BIDDER, the management system automatically generate the participation agreement, the sheet debit and general conditions of accession in PDF version, which will be forwarded to the email you provide BIDDER, in order to return BIDDER applicant duly signed copies marked "Copy for MANAGER" along with a copy of your National Identity Card or NIE, by certified mail, keeping for himself those marked "Copy for the customer."
4. Received by the Manager duly signed documents concerning the participation agreement, general conditions of accession debit sheet generated services if awarded, the manager sent by email to the bidder to confirm receipt and activate your account user, in order to proceed with the bid or offer direct purchase choice. In the confirmation email you will be told how to change the password for a different custom.

5. If the applicant bidder chose to apply for participation in the auction and sign the participation agreement and other documentation related directly to the agent seized the area, you can do it in this way, receiving copies on hand for the customer, and the remitiéndosele confirmation of account activation via specified in paragraph 4 of this clause.

FIFTH. -Participation in the private auction. Making bids. Once activated the account of the bidder, it may participate in theauction or auction of
the property or properties of interest, making your bid or bids according to the following procedure:

1. The bidder should enter the web-subastas.com www.stock, and click onthe link for the reference of the property or properties of interest. Once inside the reference must click on the button marked with the words "DO MAKE BID or OFFER". The system prompts the user name and password to login, and then in the screen where you must indicate clearly the amount of its bid, which could change only to improve the bid or bids open until the date and time limit close of the bid acceptance period.
2. Bids and modifications may be made only in accordance with the following scale, based on the starting price of the property or properties, considered as the bid made by the lowest acceptable value within the scale, if the amount does not correspond to the values of scale. Thus, a property with starting price of 75,000 euros, you can only
pujarse for their asking price, or improved amounts of EUR 1,000 EUR 1,000, and if the bid does not correspond to multiples of $ 1,000, the offer is considered downwards, ie, bid for € 79,100 would be considered by € 79,000 to be the minimum acceptable under multiple scale. If the starting price of the property is part of a scaleand effect of the
bids pass to another higher scale, the scales will be maintained in accordance with the scale of the starting price, not according to the bids made improvements.
From 0 € Up to 100.000 € 1.000 €
From 100.001 € Up to 250.000 € 2.500 €
From 250.001 € Up to 500.000 € 5.000 €
From 500.001 € Up to 1.000.000 € 10.000 €
From 1.000.001 € Any amount . 25.000 €

3. Once the bid the system will indicate the amount secured by the bid, the date on which the place and time of receipt, which must print the bidder in support of their bid.
In any case, the proof will be emailed to the bidder immediately and registered in your user account, generating a backup in our database for monitoring and verification, if necessary or required.

4. Once the offer, the bidder can only improve during the bid acceptance period. Only be modified upward, as often as possible until the closing time and date for acceptance of bids.
5. The acceptance period will always end Bidding at 23:59:59 (GMT) on the last day of that period.
SIXTH. -Award of the property. After the period of acceptance of bids, the award shall be the property auctioned immediately, the first working day following the bidder who has performed the best among all the proposals. Best be understood as the maximum bid or higher economic
value. In the case of two or more equal bids maximum value will be the winning bid has been done before on the other or others of equal value.

The awarding of the property will be notified by email to the bidder who wins the auction, which also tells you the steps to follow for the final signing of the contract of deposit with the landlord, within thirty (30 ) days of notification. Also published in the Web www.stock -subastas.com reference number associated with the client winning bidder and the maximum value of the winning bid.

SEVENTH. -Auction deserted and direct sales. If you come to the end of the period of bid acceptance had not a single firm offer or bid, the auction will be declared void at the end of the period, from the house to the
situation of direct sales by the starting price posted. In this direct selling any bidder can participate, confirming the sale to the first firm offer is received and ensure the provision of the signal corresponding to the deposit.

In the case of auctions of properties in which simultaneously purchase offers direct support for a minimal, if during the period of acceptance of offers will realize a direct bid, the same shall be considered firm and irrevocable for the bidder bidder , declaring the end sealed bid acceptance period, by consolidating a direct bid firm.

EIGHTH. -Sales commission. MANAGER receive as commission for brokering the sale of the property duly awarded through the bidding process or direct sale, the amount equivalent to two and a half percent (2.50%) on the final sale price achieved by auction or direct sales, plus the corresponding VAT. Such fee shall be paid by the bidder or contractor direct purchaser.

NINTH. -Authorization to receive amounts for deposit. The Manager is duly authorized by the owners of each property awarded or sold directly, to receive on their behalf, as depositary, amounts of money on account of the
deposit, the landlord must ratify by signing the earnest money contract. The amount you can receive the Manager of the deposit account, range from five percent (5%) and ten percent (10%) of the sales price resulting from the auction or direct sale.

TENTH. -Breach of the obligations of the successful purchaser. MANAGER shall not be liable to the owner for breach of the obligations it assumes the contractor or direct purchaser of the property offered for auction or direct sale full term if the auction and awarded the same, or given any amount on account of the earnest in direct selling and not assume the obligation to buy. In the course of receiving MANAGER one way of earnest money of the successful tenderer or direct buyer, and ultimately if it does not fulfill its commitment to purchase, that amount will be for the
benefit of the seller and owner compensation from the contractor or direct buyer or, at the option of the owner, it may enforce the obligation under Article 1450 of the Civil Code, to be perfected by the purchase agreement.

Similarly the contractor or direct purchaser shall indemnify the Manager an amount equal to the sales commission established in the stipulation EIGHTH, calculated on the amount of the award of the property for sale, or on direct selling price agreed with the direct purchaser who signed the pledge.

ELEVENTH. -Breach of the obligations of the owner seller. If achieved the award of the sale of the property through the auction or direct sale, the
seller of the property owner refuses to sign the earnest money contract and final sale of the property, it is obligated to indemnify the Manager with such breach amount equal to the sales commission indicated in the provision EIGHTH, on the sale price achieved by auction or direct sale and all expenses incurred by it for the promotion of the auction and sale of the property.

Also in case of default, the contractor shall indemnify the owner orseller direct buyer an amount equal to twice the amount given as a deposit account, provided that such compensation is accepted by the bidder or purchaser as provided by Article 1454 Civil Code.

For the purposes of Article 1450 of the Civil Code, the award procedure conducted under auction or direct sale, if any, shall be construed as convenimiento between owner and contractor seller or buyer directly, once received on deposit the amounts account of the earnest, taking as improved sales, they can either enforce the purchase agreement before the competent court.

Also the owner seller shall indemnify the Manager an amount equal to the sales commission indicated in the provision EIGHTH, on the final sale price agreed between the seller and the bidder or direct bidder for sale of the property, if during the time term of this contract and during the time stated in the stipulation exclusion FIFTEENTH, jeopardize and / or make sure the sale of the property with a bidder or offeror directly
outside mediation by the Manager, or jeopardize and / or make sure the sale of the property to any third party during the term of the exclusive contract and its extensions.

The contractor or direct purchaser shall be jointly liable to the Manager of the allowance, if it is clear from the facts that he favored or sought to consolidate the purchase outside the intermediation of the Manager.

TWELFTH. -Authorization for household payments. Authorized bidder by signing sheet debit authorization to the Manager, to ask your bank to debit your account the corresponding amount as commission from the sale of
the property and / or equivalent compensation against the Manager and against the owner of the property auctioned or put in direct sales, in breach of its obligations. Of all Mandate is notified and billed to the bidder.

THIRTEENTH. -Sale free of liens and encumbrances. The owner of the property auction or direct sale since undertakes to sell the same free of liens and encumbrances, and to date in payments of the Community, as appropriate, and free of tenants and occupants.

FOURTEEN. -Expenses. All costs arising from the sale of the property will be paid by the buyer,except for goodwill, which corresponds to the owner seller.

FIFTEEN. -Exclusion Period. The bidder and the bidder in direct selling, will refrain from buying the property that had managed the funds and put up for auction, for the participation in the auction or direct sale, respectively, directly or indirectly the owner during the time duration of the auction and direct sale entrusted by the owner, and the following year counted from the date of termination of exclusive sales contract signed between the owner and the manager. In case of default, the bidder shall be bound to pay to the Manager as compensation, an amount equal to the sales commission provision contained in the eighth, on the final sale price agreed between the seller and the owner bidder or offeror.

SIXTEENTH. -Conclusion of visiting the property. Bidder or direct purchaser may enter the property visit the agent seized the area,
provided that the owner has authorized it to the Manager property sign. In any case, the Manager will seek to coordinate the visit with the owner at the time convenient for the parties involved, even if person was in the building occupied by the owner or tenant. To make the appointment, you must do so in the appropriate section in the web-subastas.com www.stock, or by direct request to the commercial agent.

SEVENTEEN. -Personal Data. Contracting bidder acknowledges the existence of a file of personal data located at the headquarters of the Manager and their consent to the inclusion of personal data contained in the auction participation agreement signed for treatment. These data will be collected in order to enter, develop and enhance the business relationship of the
parties to the contract and make a success of the implementation. The bidder may exercise their rights of access, rectification, cancellation and opposition under the provisions of Law 16/1999, of December 13, Protection of Personal Data and other applicable regulations, by sending a written request accompanied with copy of the DNI / NIE by regular mail to the following address:

STOCK-SUBASTAS.COM / JORGE D. VILA RAMIREZ
PO BOX No. 6104
48080 BILBAO


EIGHTEENTH. -Use of Cookies on the Web. The Web STOCK-SUBASTAS.COM uses elements known as cookies. Cookies are small text files that web site server located on the hard drive of the user's computer to
collect statistical data on its web browsing and allow viewing of advertising content. They do not contain personal data. You can set your browser to accept or reject the installation of cookies or delete them once you are finished browsing in the Web site.
However, the manager advised that activates gratefully accept cookies in order to obtain more accurate data to improve the content and adapt to user preferences. MANAGER not responsible for the deactivation of cookies may impede the smooth functioning of the web page STOCK-SUBASTAS.COM

NINETEENTH. -Jurisdiction and competence. For everything related to the interpretation, application and enforcement of the general
conditions of accession and the sharing contract signed between the auction bidder and the Manager, and the exclusive contract signed between the seller and owner MANAGER, in cases of conflict between the parties, and ultimately to any dispute, the parties submit to the jurisdiction of the Courts of Spain that the contract of participation in the auction or the exclusive contract indicated at all times .
Any change in the general conditions of accession to the bidder shall be notified in writing, it may accept or reject such changes within 30 days. After this period no representation to the contrary by the bidder the contract is deemed to have accepted the changes notified.

These Conditions are registered under No. ___, ___ AR_ID in Deposit Registry Book Conditions led by the Property Registry of Bilbao.