THIS RESERVATION AGREEMENT ("RA") is made this day of ,

  2008, at a.m./p.m., by and between Urban Loft Development, LLC, (which will be called "Seller"), and  
  the prospective buyer identified below (who will be called the "Prospective Buyer"). 

  1.       Expression of Interest. The Prospective Buyer hereby expresses an interest in purchasing a Residential   
            Apartment in the Loft@Waikiki condominium building. The following are my preferences: 

             a.          Price Range:         $  to  $

             b.          Specific apartment number (list one or more that apply): 
                         

             c.          Other:

  In the event that my above preferences are not available and I do not execute a Sales Contract when it is offered,  
  then I will be placed on a Back-Up Reservation List and offered in my order number when the available inventory
  matches my above preferences.

  2.       Deposit Receipt. In consideration of the foregoing, the Prospective Buyer hereby deposits the sum of
  $5,000.00, in the form of a check made payable to Title Guaranty Escrow (the "Escrow Company"), as an initial
  deposit. The initial deposit check will remain un-cashed and retained by Buyer's agent (Prudential Locations LLC)
  until such time a Sales Contract is executed by the Prospective Buyer.  Prior to submitting the executed offer to the
  seller, an additional 5% of the purchase  price (less the  $5,000 initial deposit) is due and made payable to Title
  Guaranty Escrow (the "Escrow Company"). See below for additional terms and conditions:

             For all sales Buyer must pay into escrow an initial deposit equal to five percent (5%)of the Total Purchase Price 
             by way of a check made payable to Title Guaranty Escrow Services, Inc. (the “Escrow Company ”). This
             deposit, which must be delivered with the signed Sales Contract, will constitute “Payment A ” under the Sales
             Contract. An additional deposit equal to ten percent (10%)of the Total Purchase Price, by way of a check made
             payable to the Escrow Company, must be paid not later than 30 calendar days after the later of:
                     i) the date of delivery to Buyer of either a Contingent Final Report or a Final Public Report, or
                    ii) the date of Seller’s acceptance of the Sales contract.
             This additional deposit will constitute “Payment B ” under the Sales Contract. A third deposit equal to five
             percent (5%)of the Total Purchase Price, payable by check to the Escrow Company, must be paid not later than
             5 months prior to Seller ’s estimated date of completion of the Project. This deposit will constitute “Payment C ”
             under the Sales Contract. Buyers should note that the deposit checks will be cashed by the Escrow Company
             immediately upon receipt of the deposit checks.

  Closing will be scheduled in 2008 therefore "Payment B and Payment C" will be due at the same time
  and the balance is due at closing.

  Prospective Buyer: 

     Name: ___________
                           First                                           Middle                                               Last 
  
     Address:

     City, State, Zip Code:

     Telephone No.:               
                                                 Day                                                    Evenings 
   
     Email Address:

  
      Signature: ___________________________                     Date:

     Acknowledged By: James S. More 

     Prudential Locations LLC (Buyer's Agent)
      James S. More (R) CRS
     Loft @ Waikiki Specialist
   

        Please submit your reservation agreement and fax a copy of deposit check to fax: (808) 732-8500 or email to Jim@MoreHawaii.com 
              It may also be delivered to Prudential Locations LLC, 614 Kapahulu Avenue 3rd fl-Attn: Projects Dept. Honolulu, HI 96815              

 -Reserve your Loft@Waikiki apartment today-
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