Payment Application No. 5

XXX PROPERTY INVESTMENT                                         

P.O Box xxx Dubai, UAE

Tel: xxx

Fax: xxx

Attention    :   Mr. xxx – Project  Coordinator

                      Mr. xxx – Project Coordinator                                          

Project      :  xxx Tower Apartment Project

Client         :  Mr. xxx

Subject            :           Payment Application No. 5

References:      

1. xxx dated 16^th August xxx
2. Payment Release on 13^th September xxx for AED xxx
3. Payment Release on 11^th August xxx for AED xxx through cheque.
4. xxx dated 16^th July xxx
5. xxx dated 6^th July xxx

Dear Sir,

We refer to the above references in relation to the Payment Certificate No. 4 (item 5 above), the subsequent Interim Payment Application No. 5 (item 4 above), and the subsequent payments received (items 3 & 2 above) and our reminder letter on our Interim Payment Application No. 5 (item 1 above).

Please be informed that while we appreciate receiving the payments (item 2 & 3 above), we would like to inform you that our Payment Application No. 5 represents only the Penultimate Payment Application and not the Final Payment Application, thus, the outstanding balance receivable for the project is not only the recently received amount of AED 413,359.75. Current outstanding receivable to date for the project is AED 496,987.69 which represents the final 5% retention plus the corresponding payment on additional work that was carried out after the Payment Certificate No. 4 has been issued by API, and this was supported by documentation on our Payment Application No. 5. (Please refer to the attached draft Final Payment Application which will be issued on completion of DLP).

This is for your information and necessary action.

Kind Regards,

For xxx Interiors LLC

xxx

Project Manager