GBS Capital Partners March 22, 2013 Mr. Oscar Brito URBAN PROPERTIES, LLC 888 Brickell Key Dr., #1102 Miami, FL 33131 Dear Mr. Brito:Cesión De Derechos Y Acciones Contrato De Fideicomiso • April 24th, 2013 • Metrospaces, Inc. • In vitro & in vivo diagnostic substances
On April 13, 2012, you and we entered into a Cesión de Derechos y Acciones Contrato de Fideicomiso (the “Cesion”), whereby we assigned to you our rights to receive 9 specified condominium units being constructed at Chacabuco 1353, San Telmo, Buenos Aires, Argentina, and you agreed to pay us $750,000 in consideration of said assignment. Such consideration was to be paid in a first installment of $350,000 due on April 15, 2013, and a second installment of $400,000 due one year later. We had agreed on these due dates because the project promoter had advised us, and we in turn represented to you, that these units would be delivered during the fourth quarter of 2012 and because it was important to you to have sufficient time to sell these units so as to provide funds for the above payments. The units were not delivered at that time because of normal delays in the execution of the construction by part of the developer and project promoter, Estudio Peru, which has caused our representation to
