MANAGEMENT PLAN

PART I

GENERAL PROVISIONS

ARTICLE 1 – SUBJECT

56 independent sections (18 residences and 563 workplaces) and 555 independent sections (8 residences and 4 workplaces) will be built according to the certified project and site plan and converted into condominiums on the immovable property registered in 563 island 555 parcels in Feneryolu, Kadıköy District, Istanbul Province, and 8. The Collective Certified Project called “AFOURWINDS-PARK RESIDENCES”, which consists of the main immovable property shown in the article and the independent sections to be built on it, and the 4 independent sections (<> residences and <> workplaces) to be built according to the site plan and converted into condominiums, and the <>. The determination of the rules for the management of the Collective Building called “FOURWINDS-PARK RESIDENCES”, which consists of the main immovable property shown in the article and all the independent sections to be built on it, constitutes the subject of this Management Plan.

The joint owners have agreed that this Management Plan, together with the request for the condominium facility, which is the first stage of the condominium relationship, will be submitted to the Kadıköy Land Registry Office in accordance with Article 14 of the Condominium Law.

ARTICLE 2 – PURPOSE

The purpose of this Management Plan is to comply with Article 1. To regulate the condominium relations to be established on the buildings, commercial areas and social facilities in the “FOURWINDS-PARK RESIDENCES” Collective Structure mentioned in the article, to determine the management principles and to set the rules for the solution of the problems that may arise from this management, to determine the legal status of the owners regarding the management starting from the establishment of the condominium altitude, to determine the legal status of the condominium owners in this capacity or for any reason to be the party or involved in the condominium relations To determine the powers, duties and responsibilities and to ensure that a safe, peaceful and healthy social life order is established and maintained in the whole of the main property.

This Management Plan is also a contract concluded in accordance with the provisions of the Condominium Law and is binding on all condominium owners and their successors.

ARTICLE 3 – SCOPE

The scope of this Management Plan is shown in the following paragraphs.

A. Scope in terms of Location:

The provisions of this Management Plan shall include the land within the boundaries of the main immovable mentioned in the first article above, the buildings and facilities constructed above and below it, all objects of the nature of additions, additions or elaborations according to the whole of the main immovable or independent sections, and other goods and properties located or held in the main immovable even if they are not of this nature.

B. Scope in terms of Person:

The provisions of this Management Plan shall apply to persons who are independent section owners (owners or landlords) in the main immovable, persons who are dependent on them in the main property, independent sections, annexes and common places and who benefit from them in any way, persons who dispose of and own the main property on the basis of beneficial ownership, lease right or a legal reason and who exercise these rights subject thereto; persons who are temporarily or permanently present in the above-mentioned places due to a relationship such as service, exception, power of attorney and their employees, employees and other officers; It binds all or any part of the main immovable property or any other person who has any other kind of real or personal right over the independent sections.

C.      Karşılıklı İlişkiler Bakımından Kapsamı:

İşbu Yönetim Planı, kat mülkiyeti esasına göre tasarruf edilecek ana taşınmaz üzerinde, bu tasarruf biçiminden doğan bütün ilişkileri, bu meydanda ana taşınmazın tamamından, bağımsız bölümler ve eklentilerden ve ortak yerlerden yararlanılmasından, bunların kullanılmasından, korunmasından, bakım ve onarımından doğacak her türlü ilişkiyi; ana taşınmaz, bağımsız bölümler ve eklentileri ile ortak yerler üzerindeki hukuki ve maddi tasarruflar dolayısıyla kat malikleri, kat irtifakı ve diğer ayni hak sahipleri ve bunlara bağlı olarak ana taşınmazda kiracı ve diğer her ne nam altında olursa olsun oturan veya bu yerlerde bulunan kişilerin aralarında meydana gelecek her çeşit ilişkiyi kapsar.

MADDE 4 – TANIMLAR

Bu Yönetim Planının uygulanması ve yorumunda Kat Mülkiyeti Kanununda yer alan terim ve tanımlara başvurulmak gerektiğinde, aşağıdaki bentlerde yazılı tamamlayıcı kurallar göz önünde tutulur:

a)      ANA TAŞINMAZ terimi, kat mülkiyetine konu olan, İstanbul İli, Kadıköy ilçesi, Feneryolu’da kâin ve tapuda 56 ada 18 parseli oluşturan taşınmazın tamamını ifade eder.

b)     ANA YAPI terimi, ana taşınmazda bulunan bütün bağımsız bölümler ile bağımsız bölümlerde, eklentilerinde ve ortak yerlerde yer üstü ve yeraltında yapılmış bütün yapı, blok ve tesisleri içerecek biçimde bir bütünü ifade eder.

c)      BLOK YAPI terimi, ana taşınmazda bulunan ve aynı temel üzerine inşa edilmiş, birden çok bağımsız bölümden oluşan çarşı bloğu ve konut bloklarından her birini ifade eder.

d)     BAĞIMSIZ BÖLÜM terimi, ana taşınmazın sınırları içinde, Kat Mülkiyeti Kanunu’nun 12. maddesi uyarınca Tapu Müdürlüğü’ne verilecek projesine göre, inşa edilmekte olan ve aşağıda nitelikleri belirlenmiş olan her biri, ayrı ayrı ve başlı başına bir bütün olarak kullanılmaya elverişli bulunan ve Kat Mülkiyeti Kanununa göre bağımsız mülkiyete konu olan bölümlerin her birini ifade eder.

Bir ayrım yapılmaksızın, sadece ‘’Bağımsız Bölüm’’ ifadesinin kullanıldığı yerlerde, bu terimin, yukarıda tanımlanan bağımsız bölümle birlikte, Kat Mülkiyeti Kanununun 16. Maddesi gereğince, bu yönetim planının ilgili maddesi ile bağımsız bölümün müstakil ve münhasır kullanımına tahsis edilen alanlar ile yine bağımsız bölüme bağlı eklentilerini de kapsamak üzere kullanıldığı kabul edilir.

e)      EKLENTİ terimi, vaziyet planı ve projeye göre, bağımsız bölümlere bitişik veya ayrı, tahsisli, açık veya kapalı yer, alan, yapı ve benzeri mekân ve şeyleri ifade eder.

f)       TAHSİSLİ ALAN terimi, Kat Mülkiyeti Kanununun 16. Maddesi gereğince, bu yönetim planının ilgili maddesi ve Yönetim Planı eki projeleri ile bir bağımsız bölümün müstakil ve münhasır kullanımına tahsis edilen kapalı ve/veya açık alanları ifade eder.

g)      ORTAK YERLER terimi, vaziyet planı, proje ve bu yönetim planında ana taşınmaz ve bütün Toplu Yapıda ortak yer olarak belirlenmiş alan, yapı ve tesisler ile bu surette belirlenmiş olmasa bile, niteliği gereği yahut koruma, yararlanma veya birlikte kullanma yönlerinden ortak yer ve şey sayılacak, mekân, tesis, yapı ile Toplu Yapı projesinde sosyal tesis olarak belirlenen bina, eklenti, bahçe ve sair şeyleri ifade eder.

Ortak yerlerden bazılarının kullanımı, bu yönetim planında belirtilen bazı bağımsız bölümlere tahsis edilmiş olup, tahsis edilen bu alanlarda, diğer kat maliklerinin hakları tahsis edilen bağımsız bölüm maliki lehine kısıtlanmıştır. Bu kısıtlamanın, tüm kat maliklerinin onayı olmaksızın değiştirilmeyeceğini her kat maliki, bu yönetim planı ile kabul ve taahhüt eder.

h)     TOPLU YAPI terimi, bu yönetim planı ile birlikte yönetimi amaçlanan ve birinci maddede tapu kaydı yazılı bulunan ana taşınmazda bulunan İstanbul İli, Kadıköy İlçesi, Feneryolu’da kâin ve aşağıda tapu kayıtları yazılı, 37 adet konut bloğu, 1 adet sosyal tesis yapısı, 1 adet güvenlik ve giriş kapısı ve 1 adet çarşı bloğu olmak üzere toplam 40 yapı ve ara bağlantı yapılarından ve bunların ortak yerleri ile sosyal donatı alanları, spor alanlarından oluşan ve ‘’FOURWINDS-PARK RESIDENCES’’ adı verilen Toplu Yapı’yı ifade eder. Bu yönetim planı sadece TOPLU YAPI deyiminin kullanılması ile ‘’FOURWINDS-PARK RESIDENCES’’ ifade edilmiş olacaktır.

MADDE 5 – UYGULAMA ÖNCELİĞİ

İşbu Yönetim Planının hükümleri, ana taşınmazda ve Toplu Yapı’da, kat mülkiyeti ilişkilerinden ve bu ilişkilerin yönetiminden dolayı ortaya çıkacak bütün sorunlarda ve uyuşmazlıklarda, mevzuatta yer alan ve aynı konuyu düzenleyen tamamlayıcı ve yorumlayıcı nitelikteki kurallardan önce gelir ve birinci derecede öncelikli olarak uygulanır.

Yukarıdaki fıkrada öngörülen öncelik, emredici nitelikte bir hükmün uygulanmasını gerektiren haller dışında, Kat Mülkiyeti Kanunu’nun 33. Maddesi 2. Fıkrası ile aynı Kanunun 9. Maddesinin uygulanmasında da geçerlidir.

BÖLÜM II

ORTAK YERLER VE BAĞIMSIZ BÖLÜMLER

MADDE 6 – ANA TAŞINMAZDAKİ VE BLOK YAPILARDAKİ ORTAK YERLER

a)      BLOK YAPILARDAKİ ORTAK YERLER

The independent sections in each Block Structure use together; Without limiting to those listed herein, the places that are considered and defined in the Condominium Law and all kinds of installations installed or to be installed for common use such as stairs, roofs, common walls, elevators, water, sewerage, electricity, natural gas, communication installations for paid or free common use and other places and things that are obliged to be used together by the independent sections in each block structure constitute the common places of Blok Yapı.

b) COMMON PLACES IN THE MAIN IMMOVABLE (COLLECTIVE STRUCTURE)

The main and side roads outside the Block Buildings in the Main Immovable, all the parking lots and the green area left to the benefit of the public, social reinforcement areas, water tanks, fire hydrates, pools, ponds, social facilities, sports fields, general lighting, generators and the like, such as all independent sections in the Collective Structure are obliged to be used together.

The transformers and generators created by the producer company FOURWINDS-PARK RESIDENCES for the purpose of energy distribution within the Collective Structure without any profit and the deep wells, warehouses, pumping centers and water tanks created and to be created to meet the water needs of the Collective Structure are also common places and things of the “FOURWINDS-PARK RESIDENCES” Collective Structure.

ARTICLE 7 – LANDSCAPING OF COMMON PLACES

The final landscaping project, which will be used for the landscaping of the gardens and other Collective Building common places allocated by this management plan to some independent sections in the Collective Building, shall be carried out by the producer company FOURWINDS-PARK RESIDENCES until the building use permit is obtained for the whole of the Collective Structure and shall be stored in the title deed register page of the Main Property and shall be an annex to this Management Plan, shall be submitted to the Land Registry Office to which it is affiliated. All flat owners who purchase an independent section by accepting this Management Plan before the Land Registry Office are deemed to have accepted this landscape project unconditionally. The method for the changes that can be made to the landscape project is described in the relevant part of this management plan.

PART III

RIGHTS AND OBLIGATIONS

I. KISIM

RIGHTS

ARTICLE 8 – BENEFICIARY

The owners of the condominium to be established on the Main Immovable are the persons whose names are registered as condominium owners on the page in the independent section land registry. Until the condominium is established, the owners of the condominium are considered to be the owners of the condominiums. The legal provisions regarding the floor altitude are reserved in any case.

If the owner of an independent department is a legal person, the rights and powers arising from the condominium relationship are exercised by the authorized management body of the legal entity.

If there is a right of beneficial ownership or tranquility over an independent section covering the whole of the independent section, the rights and powers related to the condominium property shall be exercised by the owner of the right of ownership or tranquility during the continuation of this right. However, the provisions of the Civil Code on the protection of the naked owner of property are also reserved.

ARTICLE 9 – GENERAL CONTENT OF RIGHTS

Independent section owners have all the rights and powers granted to the owners by the Civil Code and other legislation in the independent sections belonging to them and in the gardens, terraces or annexes allocated exclusively for their benefit, without prejudice to the limitations required by the condominium relationship. The independent section owners are the owners of the whole block, the Main Immovable and the common places and things in the Collective Structure in proportion to their share of the land, in accordance with the provisions of the Civil Code. In terms of the use and enjoyment of common places, the owners have equal rights regardless of their share of the land. However, in the decisions to be taken regarding these areas, the general rules stipulated by the Condominium Law and the rules determined by this Management Plan will be applied. This rule has been adopted to be the contract mentioned in the second paragraph of Article 16 of the Condominium Law.

If the owners of the independent sections in the bazaar block are real persons and the owner is a legal person, the real persons constituting the authorized management body of the legal entity may benefit from the social facility and other common areas of the Collective Structure.

However, it is not possible for employees and customers in the independent sections in the bazaar block to benefit from the social facility and the common areas of the Collective Structure.

ARTICLE 10 – USE OF THE INDEPENDENT SECTION

The owner of the independent section is authorized to use the independent section as he wishes, to give the right to use and benefit from it to others while remaining within this framework, to rent, to transfer with or without charge, to keep the maintenance and expense shares empty, provided that he complies with the special provisions of the Condominium Law, the rules contained in this management plan and other restrictions and prohibitions required by the condominium relationship. However, the gardens allocated to the independent section from the common places cannot be allocated to third parties separately from the independent section and in contradiction with the purpose of use of the independent section, leased or transferred under any name.

ARTICLE 11 – USE OF COMMON PLACES

The independent section owner and other right holders of the right of use have the authority to use and benefit from the common places within the framework of the regulations on them. In benefiting from and using common places, rights holders must take care to pay attention to each other’s rights, to comply with the rules of good faith while exercising these rights and to avoid behaviors that prevent the common benefit.

The Collective Building Management is authorized to make arrangements for the use of common places, except for those places specified in this Management Plan to be allocated to some independent departments, to set the necessary rules, to amend these rules according to the needs of the day, provided that they are not contrary to public order and social life.

ARTICLE 12 – LEGAL SAVINGS

The owner of the independent section may take any legal action that would enable the transfer or establishment of rights in kind in favor of third parties over the independent section. In the dispositions resulting in the transfer of ownership over the independent part, and in the dispositions to be made for the establishment of the right of beneficial ownership and tranquility, no conditions shall be laid down that the rights and powers relating to the common places shall remain with the transferor or the person establishing the right.

ARTICLE 13 – FAILURE TO REQUEST THE DISSOLUTION OF THE PARTNERSHIP

Even in the event that the ownership of the Main Immovable becomes a joint property due to the termination of the floor elevation established on the Main Immovable for any reason, it cannot be requested to dissolve the partnership even if the situation of using it in independent sections intended by this contract continues even partially.

ARTICLE 14 – PARTICIPATION IN MANAGEMENT

The independent section owner has the right to participate in the management of the Block and the Collective Structure in which he is located. If the right of usufruct or beneficial ownership has been established over the independent part, the right to participate in the administration passes to the person who has this right as long as the right of tranquility or beneficial ownership continues. However, if significant installations and changes are to be made to the main property that will remain permanently or permanently, the owner of the naked property shall participate in the management procedures related to them.

In order for tenants to participate in management on behalf of the independent section, the independent section owner must expressly authorize. If no such authority is given, the tenant is not admitted to the meeting of the board of landlords. This provision does not prevent tenants from directly notifying the Administrator or Collective Building Manager of their wishes and complaints about the use and utilization of the independent sections and common places and requesting information about the result.

2. KISIM

DEBTS AND OBLIGATIONS

ARTICLE 15 – GENERAL RULE

The independent section owner has a property right limited to the rules, obligations and liabilities set forth in the general provisions, the Condominium Law and this Management Plan.

Independent section owners, when using both independent sections and annexes and exclusively allocated areas or common places, are obliged to strictly comply with these limitations and obligations and to strictly observe the principle of accuracy and confidence in all their dispositions in the main property and in the Collective Structure.

ARTICLE 16 – OBLIGATED AND RESPONSIBLE PERSONS

The main liable and responsible for the debts and obligations arising from the Law and the Management Plan are the independent department owners. However, persons who permanently reside and benefit from the independent section as tenants, easers or beneficial owners in independent sections or for a similar reason are also jointly liable for debts and obligations together with the condominium.

Those who are in possession or ancillary possession of the Main Property, in independent sections or in the Collective Structure and common places due to any relationship of the type of service, exception, power of attorney are also obliged to comply with the orders and prohibitions established by law or the provisions of this management plan.

ARTICLE 17 – GENERAL PROVISIONS REGARDING THE MAIN IMMOVABLE AND COLLECTIVE STRUCTURE

Independent section owners and permanent beneficiaries of the independent section are obliged to preserve and maintain the architectural and natural characters of the Main Immovable and Collective Structure created according to contemporary construction and arrangement techniques. In this regard, in addition to the legislation and zoning legislation on the protection of intellectual and artistic works, the rights of each Flat Owner (or Floor Altitude Owner) to request the protection of the architectural features of the Collective Building are protected by this convention. The independent section owners are responsible to each other to ensure that the Main Immovable and the Collective Structure as a whole are in a state of conformity with the conditions of coexistence, that this situation is maintained and that the conservation and maintenance works for them are carried out without interruption.

The main obligations that fall under this debt and responsibility are:

a) Independent section owners, while exercising their own independent sections and their rights to the Main Immovable and Collective Structure and the common places therein, must fully comply with the rules of good faith, the orders and prohibitions of the Law and the Management Plan and the decisions taken by the boards and officers of the management.

b) The independent section owners are obliged to ensure the compliance of the persons residing or occupying the immovable property subject to them to the debts imposed on them for the protection and maintenance of the Main Immovable and the Collective Structure and are jointly and severally responsible for the actions of these persons.

c) The owners of the independent departments are obliged to comply with the requirements of the rules of neighborly law laid down in the Civil Code towards each other and to behave in the manner and behavior required by good neighborly relations.

ARTICLE 18 – DEBTS AND OBLIGATIONS RELATED TO THE INDEPENDENT SECTION

The independent section owner, while using and benefiting from his independent section, is obliged and responsible for complying with all limitations arising from the legislation on the right to property, the Law on Condominium Ownership, this Management Plan and the decisions made by the Block Condominium Board and the Collective Building Condominium Board and to fully fulfill the debts and obligations arising from them.

Independent section owners, in relation to their independent department:

a) They may not make any changes to the external elements of the building constituting the independent section, whether or not they affect the architectural appearance of the building. From this sentence, opening new windows, expanding or shrinking existing ones, merging, changing the appearance or material of the existing ones, demolishing the external walls, relocating them, building new walls, making changes to the roof that will affect the external appearance, performing operations to change the height of the roof, moving, raising or lowering the location of the chimneys, expanding, closing, narrowing, relocating the external doors of the structure, demolishing, expanding, closing or closing the balconies and overhangs, or All similar operations and operations, such as narrowing, which may or may not be counted herein, are prohibited. Permission can be obtained from the Collective Building management for the construction of window and balcony irons, blinds and similar additions for the purpose of protection, and in order to grant this permission, a project including the qualifications of the work to be done must be given to this board. It may allow provided that the aesthetic uniform project is applied in accordance with the architectural features of the collective structure.

b) Independent section owners may not carry out paint, whitewash, plaster type operations that will change or affect the color, character and appearance of the independent section.

c) The owners of the independent sections shall also comply with the prohibitions in subparagraphs (a) and (b) above in the annexes and allocated areas whose right of use is exclusively allocated to their independent section. It is forbidden to expand, narrow, change, fence or similar places in these areas, to enclose, raise and lower the existing facilities, gardens, terraces and similar places as areas. The types of trees and other plants to be planted in the gardens are determined by the decision of the Collective Flat Owners Board, provided that the landscape project of the Collective Building is taken as a basis. Trees and plants shall not be planted contrary to this decision and which will grow in such a way and height as to affect and impede the general appearance of the Collective Structure and the view of other independent departments. In addition, it cannot carry out and change construction activities in the allocated area (such as garden, terrace and the like), including barbecue. Independent section owners who have allocated gardens to the independent section cannot damage the allocated gardens on the grounds that they are allocated for their own use. Since the allocated gardens are also taken into account in the calculation of the independent section values and the land shares proportional to these values, no additional fee is charged for their maintenance by the Management from the common expenses.

d) In the event that the independent section owner damages the common areas due to the landscaping work carried out in the allocated garden, the Collective Building Manager shall immediately carry out the repair works without any warning and collect the cost separately from the relevant independent section owner.

e) In the event that the technical installation of the Collective Building is insufficient, the television, radio and radio antennas to be kept in independent sections in compulsory cases must be of a size that will not disrupt the architectural and natural appearance of the structure and the whole Collective Building and must have aesthetically favorable qualities. In special cases that require the use of antennas of a size exceeding the standard dimensions determined by the Collective Building Management or to be determined, permission must be obtained from the Collective Building Owners Board.

(f) If the owner of an independent division is more than one person, they shall all act together for the exercise of rights; If unity cannot be achieved, they are obliged to appoint or have a representative appointed to them in terms of condominium relations.

ARTICLE 19 – PERSONS SUBJECT TO THE RIGHT HOLDER

The rights arising from the condominium and authorizing the owner to use and benefit from the material in his own independent section and in the common places of the Main Immovable and Collective Structure are also exercised by the persons in the independent section, depending on the independent section owner. This authorization to use is subject to the following rules, provided that it is probably not more than the powers of the landlord.

(a) The blood and blood relatives who live with the owner in the independent part shall be entitled to use and make use of the independent part and common places and things to the extent that they are expressly or implicitly approved by the owner.

(b) Residents of the independent section as tenants shall be entitled to use and enjoy the independent section and common places and things to the extent that the right of rent is provided.

c) Persons who are parties to other legal relations that authorize temporary or permanent use of the independent section shall have the authority to use and benefit from it to the extent of the quality and quantity of this relationship.

d) The owners of the independent section, the beneficial owners or the owners of the right of succession or the right of succession or the tenants such as servants, assistants, drivers may be present in the independent section at the extent and time provided by the employment relationship and with the approval of the original right holder and may use the common places to the extent required by the employment relationship. Independent section owners, beneficial owners, easements, and guests and visitors of tenants are also entitled to use and benefit from such relations to the extent required. However, the second paragraph of Article 9 of this Management Plan and the limitation imposed on the independent sections in the market block are reserved.

This obligation is a contractual obligation that binds all independent section owners and their successors and is accepted by law and by this Management Plan, and the independent section owners expressly accept and undertake to bear all the consequences of this contractual obligation.

e) The matters relating to the use and utilization of the above articles and the rights, obligations and obligations stipulated in this management plan and the law shall be fulfilled by the residents or beneficiaries of any rights in the independent sections and the owners of the independent departments shall be jointly and severally liable for their contraventions.

ARTICLE 20 – DUTIES AND OBLIGATIONS ARISING FROM ADMINISTRATIVE AFFAIRS

The independent section owners are liable for all debts arising out of the management of the main immovable property and the whole Collective Structure in proportion to their share of the land in accordance with the laws and other regulations, the provisions of this management plan, the decisions of the Block Flat Owners Board and the Collective Building Flat Owners Board, so long as they have the right to the relevant independent section in the land registry.

The existing responsibilities of independent section owners towards other independent section owners, the Block Flat Owners Board and the Collective Building Owners Board and the Collective Building Representatives Board due to the condominium relationship and management affairs do not eliminate or change their other responsibilities arising and to be incurred in accordance with the general provisions due to their own actions and behaviors.

Within the scope of the debts and duties specified in the above paragraphs, the main responsibilities of the independent department owners due to their management work, including but not limited to the following, are as follows:

a) The flat owners are obliged to participate in the general expenses of the Block and Collective Building determined by the operating projects, to pay the advances determined for these expenses, to make the additional payments determined by the Collective Building Manager, provided that they are exceptional in urgent and compulsory cases and submitted to the approval of the first subsequent Collective Building Floor Representatives Board.

b) If there is a decision duly taken by the Collective Building Flat Owners Board or the Collective Building Flat Owners or the Collective Building Representatives Board, the flat owners are obliged to participate in the expenses to be made for the repair, modification and renovation of the common places in the Block and the collective Building and to make the advance payments required by these works in a timely manner. In the event of sudden occurrence of damages and defects in the common places in the Block or Collective Structure that must be eliminated as a matter of fact, a repair advance may be collected by the Collective Building Manager for the purpose of eliminating them, provided that they are exceptional and submitted to the approval of the first subsequent Collective Building Representative Board.

c) In sharing the maintenance, repair, lighting, cleaning and similar expenses of all places, facilities and social reinforcement areas that are written above to be abandoned to the common use of the Collective Structure and their operating expenses, the principles stipulated for the Collective Building Operation Project of this Management Plan shall be taken into consideration.

In order to cover the usual maintenance, repair, cleaning and similar expenses of the collective building common places, it may be foreseen to collect advance advances as a precautionary measure in a chapter to be shown in the operation project.

ARTICLE 21 – MEASURES AND SANCTIONS

Application to the authorized persons and authorities in accordance with the Law on Condominium Property against the independent section owners and other obligors and responsible persons who act contrary to the law, other legislation and the decisions taken by the Block Flat Owners Board, the Collective Building Owners Board and the Collective Building Representatives Board in the use and utilization of all Collective Buildings, independent sections, common places, things and facilities, Upon requests and lawsuits, the measures and sanctions determined by the Condominium Law, this Management Plan and the relevant legislation shall be applied. The main measures and sanctions are as follows, including but not limited to the following:

a) In accordance with Article 20 of the Condominium Law, delay compensation is applied to unpaid advance and overhead shares with a monthly account of five percent. In the event of a statutory amendment amending such rate, the rate of delay compensation set forth herein shall be deemed to have changed automatically without the need for amendment to this Management Plan.

b) Article 20, Section 2 of the Condominium Law against the defaulting independent section owner. And 3. A lawsuit is filed by requesting the sanctions in the clause, and enforcement proceedings can be carried out.

c) A statutory mortgage may be established on the independent part of the owner who has not paid his debts in accordance with Article 22, paragraph 2 of the Condominium Law.

d) Failure to fulfill the obligations and obligations set forth in the Condominium Law and this Management Plan, and in particular against the independent section owner enumerated in subparagraphs a.b.c of paragraph 25 of Article 3 of the Condominium Law and whose other acts render the rights of other independent section owners intolerable under Article 25, Section 2 of the Condominium Law. An action may be instituted pursuant to paragraph 1 of this Article and the application of the provisions of paragraph <> of this Article may be requested.

ARTICLE 22 – ASSURANCES

In the event that the independent section owner fails to pay the share or advance to participate in the common expenses, the tenant, the beneficiary of the right of occupancy or the persons residing in the independent section for any other reason shall be jointly and severally liable for such debt and delay compensation. The statutory limitation of liability adopted for tenants in relation to this liability is reserved.

In the proceedings to be carried out against the independent section owner due to the payments mentioned above, determined by the decision of the Block Flat Owners Board or the Collective Building Flat Owners Board or other monetary obligations arising from the condominium relationship, these debts shall be deemed to be promissory notes signed in accordance with the Enforcement and Bankruptcy Law. Likewise, in these proceedings, it is accepted as a presumption that the movable property in the independent section is the property of the independent section owner.

The registered claim of the independent section owner for the statutory mortgage in favour of the other independent section owners in view of the debts mentioned in the first paragraph above is one of the guarantees of these receivables.

The guarantees foreseen for the collection of common expenses are not limited to those listed herein, but also other guarantees stipulated and to be foreseen in the legislation.

CHAPTER IV

MANAGEMENT

MANAGEMENT IN GENERAL

ARTICLE 23 – GOVERNING BODIES

The main immovable property and the independent sections located on it and the whole Collective Structure shall be managed in accordance with the procedures and principles stipulated in this management plan and the Condominium Law, the following bodies shall be managed:

1. Block Structure Management

A- Block Flat Owners Board

B- Administrator

C- Auditor

2. Collective Structure Management

A- Collective Building Flat Owners Board

B- Collective Building Representative Board

C- Batch Build Manager

D- Collective Build Inspector

KISIM 1

BLOCK STRUCTURE MANAGEMENT

BLOCK FLOOR OWNERS BOARD

ARTICLE 24 – FORMATION OF THE BLOCK LANDLORDS BOARD

The Block Flat Owners Board consists of all independent section owners in the Block Structure. In order for the decisions to be taken by this board to be valid, the board must meet in accordance with the principles set forth in this Management Plan and the decisions must be taken in accordance with these principles. The decisions to be taken by all or part of the independent department owners in the units and meetings to be formed outside this body shall not be valid unless they are transformed into a decision of the Board of Landlords convened in accordance with the procedures and principles specified in the Law and this Management Plan.

ARTICLE 25 – RIGHT TO PARTICIPATE IN THE BOARD AND REPRESENTATION

The right to participate in the Block Flat Owners Board belongs to the owners of independent sections. If more than one person is co-owner of the independent section, someone they choose from among them shall join the board. If there is a beneficial ownership right over the entire independent section, the right to participate in the board belongs to the owner. In the case of partial beneficial ownership over the independent section, the only person who has both the naked property and the partial beneficial ownership shall participate in the board. If the independent section belongs to a legal person, the real person to participate in the board is determined by the authorized body of the legal entity.

Independent department owners and those who have the right to participate in the board can have themselves represented on the board by authorized proxy. The deputy need not be an independent department owner. A person can act as a proxy for a maximum of two people. While granting the power of representation, no limitation can be made that the proxy does not have the right to vote, and if such a limitation is made, the proxy is not taken to the meeting. Provisions on legal representation are reserved.

ARTICLE 26 – TIME OF MEETING

The Block Flat Owners Board meets as usual in January of each year. For the first meeting, January is not expected. However, the decisions taken at the first meeting shall be valid for the year in which the meeting is held and the ordinary meeting shall be held in January of the following year.

In the event that an important issue arises, the board may always hold an extraordinary meeting upon the call of the manager. This call is made by the auditor if it is not made by the Administrator.

If requested by one-third of the independent section owners in the block, the Manager must call an extraordinary meeting of the board.

ARTICLE 27 – CALL PROCEDURE

Meetings shall be called by the Director at least fifteen days before the day of the meeting. The call specifies the location, day, and start time of the meeting. The call shall be made by registered letter to the independent section owners residing in the Block with a call letter to be signed and to the owners who do not live in the Block, to the addresses they have given to the management, and if an address has not been given, to the addresses in the deed. Notifications made to these addresses are valid.

The agenda of the meeting is announced to the owners together with the call letter. In the case of extraordinary meeting calls, apart from the agenda, the names of the requesters of the meeting and the reasons for the meeting shall also be stated.

In ordinary and extraordinary meetings, if the quorum cannot be achieved at the first meeting when the first call is made, the day of the second meeting shall be determined not less than seven days and not more than fifteen days, and the place and time of the second meeting shall be notified.

ARTICLE 28 – QUORUM FOR THE MEETING

The Block Flat Owners Board convenes with the participation of more than half of the independent section owners in terms of number and land share. If this majority cannot be achieved, the meeting shall not be opened and the situation shall be determined by a minute and a second meeting shall be held on the specified day, not less than seven days and not more than fifteen days. In the second meeting, a quorum is not required and the meeting is held with the arrivals.

ARTICLE 29 – MEETING PLACE

The Block Flat Owners Board shall meet in a suitable place in the block structure or in the Social Facility to be allocated by the Collective Building Management for this work. The meeting location is indicated in the call letter.

ARTICLE 30 – MEETING

The meeting begins with the presence of a quorum of independent department owners at the meeting place (without calling this number at the second meeting) and the signing of the issued owners’ list. The meeting shall be opened by the Manager or, in his absence, by the owner of the oldest floor.

A chairman of the council, a vice-president and a clerk are elected to conduct the meeting. The minutes to be kept at the meeting shall be signed by the president, vice president, clerk and the participating landlords. The President ensures that the agenda is discussed, the agenda items are decided and the meeting is organized.

ARTICLE 31 – AGENDA AND NEGOTIATIONS

The Block Flat Owners Board discusses the items available on its agenda. The agenda is determined by the Administrator. If requested by 1/3 of those present at the meeting, the issues subject to the request shall be added to the agenda.

ARTICLE 32 – DECISIONS

A) The decisions of the Block House Owners Board shall be taken by majority vote to the meeting, unless otherwise stipulated in the Law or this management plan. In terms of calculating the majority of votes, the following rules shall be observed. 

a. The majority of votes is calculated according to the number of participants in the meeting, and the majority of the land share is not required.

b. In calculating the majority of votes, those who abstain or who attend the meeting but do not vote at all or who leave the meeting without voting are also considered to have attended the meeting.

c. Proposals that fail to secure a sufficient majority vote for adoption shall be deemed to have been rejected.

d. Blank votes cannot be cast in the elections of Directors and Auditors. If the required majority of votes cannot be achieved in the first round, the candidate who collects the most votes in the second round is deemed to have been elected, and in case of equality in the votes in the second round, a lot is drawn between the candidates. The winner of the draw is deemed to have been selected.

e. The independent department, whose subject matter is directly related to itself, may participate in the deliberations, but may not vote and shall not be taken into account in calculating the majority. Decisions on the discharge of the Director and the Auditor are exempt from this provision.

The quorum for the decision in the second meeting held due to the failure to provide a quorum for the meeting is the absolute majority of the participants. The above principles shall be taken into account in determining the absolute majority.

B) Each landlord has the right to one vote, regardless of the share of the land. The landlord who has more than one independent section in the block structure has a separate voting right for each independent section; provided, however, that whatever number of independent divisions it owns, the number of votes it shall have shall not be more than one-third of all votes, and fractions shall not be taken into account when calculating votes.

ARTICLE 33 – DUTIES OF THE BLOCK LANDLORDS BOARD

The Block Flat Owners Board is authorized only to solve the problems in its own blocks in accordance with the Law and this Management Plan. However, the Board of Block Flat Owners cannot take decisions that will disrupt or affect the architectural structure, appearance, landscape, Collective Structure integrity and common life of other blocks and therefore of FOURWINDS-PARK RESIDENCES Collective Structure, even if they are related to their own blocks.

The Block Flat Owners Board cannot take decisions binding on the entire Collective Building or the owners of flats in other Blocks. The Board cannot take any decision about the common areas of other blocks or the common areas of the Collective Structure other than the common areas of the blocks.

The Block Flat Owners Board shall not take a decision that would contradict or eliminate the decisions previously made by the Collective Building Owners Board or the Collective Building Representatives Board. More generally, when there is a conflict between the decisions of the Collective Building Floor Owners Board or the Collective Building Representatives Board and the decisions of the Block Floor Owners Board, the decision of the Collective Building Flat Owners Board is applied.

The Block Flat Owners Board also resolves and adjudicates disputes that arise between independent section owners in their blocks or between the landlords and the manager or auditor, or between the manager and the auditor.

ARTICLE 34 – RECORDS AND DOCUMENTS

The decisions of the Block Flat Owners Board, starting from (1), are written in the notarized notebook bearing the page numbers that go sequentially. The bottom of each resolution is signed by the independent section owners present at the meeting, and those who voted against the resolution sign the book by writing their reasons.

The decision book of the Board, the minutes and the file of the documents are kept by the Block Manager.

ARTICLE 35 – BINDING DECISIONS

The decisions taken by the Block Flat Owners Board on the matters in which it is authorized shall be binding on all independent section owners in that block and their complete and juz successors, the Manager, the Auditor and all other relevant persons. In independent sections, those who are in possession or as a beneficial owner or tenant and those who are in possession on the basis of another legal reason and who are subject to them are also obliged to comply with the decisions of the board and to fulfill their requirements and are jointly responsible with the owner.

ARTICLE 36 – FINALIZATION OF THE DECISION OF THE BOARD

The decisions of the Block Flat Owners Board become final when the decision is taken and written in the notarized book and signed. The fact that a judicial remedy has been filed against a final decision does not prevent or delay the implementation and enforcement of the decision of the board of block floor owners, unless there is an injunction for the suspension of execution taken in the judicial places.

Not attending the meeting, voting against it or opposing it in any other way does not constitute a reason for not complying with the decisions duly taken by the Board of Block Landlords.

The independent section owners and their kulli and juz successors and all other relevant persons cannot avoid their debts and obligations determined by these decisions by claiming that they are not aware of the decisions taken by the Block Flat Owners Board and cannot escape their responsibilities on the basis of this ignorance.

The Manager announces all decisions taken by the Block Condominium Board in accordance with the notification and Block as determined by the Condominium Law and keeps the decision book open to the examination of the owners.

KISIM 2

BLOCK MANAGER

ARTICLE 37 – APPOINTMENT OF BLOCK MANAGER AND CONDITIONS OF APPOINTMENT

The manager is appointed by the Block Flat Owners Board. The Manager can be appointed from among the landlords or an outsider can be appointed as the Manager. However, the independent section maliki:

a) If it is a legal person, its representative participating in the board,

(b) if it is more than one, one to designate among them;

c) If restricted, the legal representative,

d) If a trustee has been appointed for the administration of the independent department or its owner, the trustee,

e) If there is a beneficial or beneficial ownership right over the independent section, the owner of this right,

Can be a candidate for Administrator and can be appointed as an Administrator.

The manager’s name, surname and work and home address must be hung in the manner specified in the Condominium Law.

ARTICLE 38 – PERIOD OF MANAGEMENT

The term of office is one year. In the event that the directorship becomes vacant before the expiry of this period due to resignation, death, illness or disability to the extent that he cannot be a manager, etc., an extraordinary meeting of the installation shall be held and a new manager shall be appointed to complete the remaining term of the director.

In the event that no candidate for the position of director can be found and therefore no election can be held, the manager shall be appointed by the Magistrate’s Court of the place where the real estate is located upon the request of one of the owners of the block floor.

ARTICLE 39 – DUTIES OF THE BLOCK MANAGER

The Administrator, in accordance with the law, other regulations and the rules in this management plan, carries out all the management affairs of the Block in accordance with the decisions of the Collective Building Flat Owners Board and the Block Flat Owners Board.

The main duties of the Director, provided that he complies with the limitations set forth in this Management Plan, are as follows:

a) To carry out the necessary works for the use and protection of the common places of the block in accordance with its purpose,

b) To ensure that the independent section owners and other relevant persons fulfill their debts and obligations, to apply for the necessary sanctions about the contrary behaviors, to take initiatives against third parties and official authorities when necessary in matters concerning the common places of the block, to make notifications, to accept the notification,

c) To call the Block Flat Owners Board to an ordinary and extraordinary meeting,

d) To collect from the owners of the flats in their own block only the shares of participation in the general expenses related to their own block and the advances, and to request additional payments when necessary, in urgent cases,

e) To keep records of income and expenses, to keep documents or, if a joint accountant is determined by the Collective Building Owners Board, to have the expenditure documents kept by the said accountant,

f) To carry out the block operation project, to notify the independent section owners, to implement the operation project accepted by the Block Flat Owners Board,

g) To deposit the money belonging to the administration other than daily expenses in a national bank,

h) To keep the decision book and income and expense books of the Block Flat Owners Board in accordance with the procedure, to have them notarized, to keep their documents,

i) At the end of the term of office, to prepare a balance sheet and activity report showing the accounts related to the revenues and expenses related to the period and to submit it to the Block Flat Owners Board together with the business project proposal prepared by taking into account the revenues and expenses likely to occur in the following period.

j) To attend the meetings of the Collective Building Representative Board and to represent the bloc.

ARTICLE 40 – BLOCK OPERATION PROJECT

The operating project is the document that is estimated to be realized in the one-year management of the Block, showing the income and expenses and the share of expenses that will fall to each independent section owner in accordance with the Collective Construction operation project and the advance amounts they will pay for this share.

The operation project is prepared by the manager and finalized by the Block Flat Owners Board by being approved as it is or as amended.

At the end of the term, the manager shall notify the business project proposal to be submitted to the Block Flat Owners Board fifteen days before the meeting of the board to all independent section owners or to the permanent beneficiaries of the independent section by signature or registered letter. The operating project may be challenged within seven days of such notification. Objections are decided at the Block Flat Owners Board.

If the Manager has not submitted an operating project to the Block Flat Owners Board at the end of the period or if the submitted project has been rejected upon objections or by the decision of the board, the operation project shall be carried out by the newly appointed Manager. Following the appointment of the newly appointed Administrator, he shall immediately carry out a management project and notify the relevant persons in accordance with the previous paragraph. If there is an objection to this project within the seven-day period, the Block Flat Owners Board is called to an extraordinary meeting and the objections are decided and the operation project is finalized.

ARTICLE 41 – NOTIFICATION

Unless otherwise provided for in the Condominium Law or in this Management Plan, the provisions of the Notification Law shall apply to notifications to be made by the Manager.

ARTICLE 42 – RESPONSIBILITY OF THE BLOCK MANAGER

The manager is responsible to the independent section owners and the board formed by them in accordance with the provisions of the power of attorney contract of the Code of Obligations.

ARTICLE 43 – RIGHTS OF THE BLOCK MANAGER

The rights of the manager vis-à-vis the owners of the independent department, as a rule, are the same as the rights of the deputy. The manager does not receive remuneration primarily for this duty and is not exempted from administrative expenses. However, if no free candidate can be found, the independent department owners board may fix a fee to the extent that a candidate can be found, and this fee cannot be more than half of the general expenses.

KISIM 3

BLOCK CONTROL

ARTICLE 44 – BLOCK CONTROLLER

In order to audit the business, operations and accounts of the Block Manager, an Auditor is elected by the Board of Block Flat Owners at the ordinary meeting with a majority of the number and land share. On the election of auditors, the provisions on the election of managers shall apply. The term of office of the auditor is one year. The Auditor whose duty has expired may be re-elected. The provisions of the manager on the remuneration and responsibilities of the auditor shall apply.

ARTICLE 45 – DUTIES OF THE AUDITOR

The auditor prepares an interim report every three months by examining the records, books and documents of the manager. If the Auditor deems it necessary, these reports shall be communicated by the Administrator to the independent department owners.

If more than 1/3 of the number of independent section owners deems it necessary, the Auditor is obliged to carry out the audit procedures without waiting for the three-month period and the end of the year and to send the report containing the result of the examination to the independent section owners.

At the end of the period, the Auditor shall send the report, including his own views on the business and transactions and the account status examined, to the independent department owners ten days before the board meeting against signature or by registered letter.

The auditor shall keep a notarized book to record audit reports and other matters.

CHAPTER V

COLLECTIVE BUILDING MANAGEMENT

SECTION 1 – GOVERNING BODIES

ARTICLE 46 – IN GENERAL

Section 2 of this Management Plan It is intended that all the blocks in the main immovable property whose title deed is written in the article are managed together as a Collective Structure and the owners of the 563 independent sections built on this main immovable have agreed to manage them in a Collective Structure in accordance with this Management Plan. Governing bodies of the Collective Structure; He is the Collective Building Owners Board, the Collective Building Representatives Board, the Collective Building Manager and the Collective Building Auditor.

SECTION 2 – COLLECTIVE BUILDING LANDLORDS BOARD

ARTICLE 47 – FORMATION OF THE COLLECTIVE BUILDING AND LANDLORDS BOARD

The Collective Building Owners Board consists of the owners of all independent sections in the FOURWINDS-PARK RESIDENCES Collective Building. In order for the decisions to be taken by this board to be valid, the board must meet in accordance with the principles set forth in this management plan and the decisions must be taken in accordance with these principles. The decisions to be taken by all or part of the independent section owners in the units and meetings to be formed outside this body shall not be valid unless they are transformed into a decision of the Board of Landlords convened in accordance with the procedures and principles specified in the Law and this management plan.

ARTICLE 48 – RIGHT TO PARTICIPATE IN THE BOARD AND REPRESENTATION

The right to participate in the Collective Building Flat Owners Board belongs to the owners of all independent sections in the Collective Building. If more than one person is co-owner of the independent section, someone they choose from among them shall join the board. If there is a beneficial ownership over the entire independent section, the right to participate in the board belongs to the beneficial owner. In the case of partial beneficial ownership over the independent section, the only person who has both the naked property and the partial beneficial ownership shall participate in the board. If the independent section belongs to a legal person, the real person to participate in the board is determined by the authorized body of the legal entity.

Independent department owners and those who have the right to participate in the board can have themselves represented on the board by authorized proxy. The deputy need not be an independent department owner. A person may not participate as a representative of more than 5% of the independent section owners. Provisions on legal representation are reserved.

ARTICLE 49 – TIME OF MEETING

The Collective Building Owners Board meets every two years as usual in January. For the first meeting, January is not expected. However, the decisions taken at the first meeting shall be valid for the year in which the meeting is held and the ordinary meeting shall be held in January of the following year.

In the event that an important issue arises, upon the call of the Collective Building Manager, the Board of Collective Building Owners may at any time hold an extraordinary meeting. This call shall be made by the Collective Building Inspector if not made by the Administrator.

If requested by one third of the independent section owners in Tolu Yapı, the Collective Building Manager must call an extraordinary meeting of the Collective Building Flat Owners Board.

ARTICLE 50 – CALL PROCEDURE

Meetings shall be called by the Collective Build Manager at least fifteen days before the day of the meeting. The call specifies the location, day, and start time of the meeting. The call shall be made to the owners of the flats against their signatures or by registered letter to the addresses given to the management by the owners of the flats or, if an address is not given, to the addresses in the deed. Notifications made to these addresses are valid.

The agenda of the meeting is announced to the owners together with the call letter. In the case of extraordinary meeting calls, apart from the agenda, the names of the requesters of the meeting and the reasons for the meeting shall also be stated.

In ordinary and extraordinary meetings, when the first call is made, if the quorum cannot be achieved in the first meeting, the day of the second meeting shall be determined not less than seven days and not more than fifteen days and the place and time of the second meeting shall be announced.

ARTICLE 51 – QUORUM FOR THE MEETING

The Collective Building Flat Owners Board convenes with the participation of more than half of the independent section owners in terms of number and land share. If this majority cannot be achieved, the meeting shall not be opened and the situation shall be determined by a minute and a second meeting shall be held on the specified day, not less than seven days and not more than fifteen days. In the second meeting, a quorum is not required and the meeting is held with the arrivals.

ARTICLE 52 – MEETING PLACE

The Collective Building Owners Board shall meet at an appropriate place to be determined by the Collective Building Manager for this work. The meeting location is indicated in the call letter.

ARTICLE 53 – MEETING

The meeting begins with the presence of a quorum of independent department owners at the meeting place (without calling this number at the second meeting) and the signing of the issued owners’ list. The meeting shall be opened by the Collective Building Manager or, in their absence, by the eldest landlord.

A chairman of the council, a vice-president and a clerk are elected to conduct the meeting. The minutes to be kept at the meeting shall be signed by the president, vice president, clerk and the participating landlords. The President ensures that the agenda is discussed, the agenda items are decided and the meeting is organized.

ARTICLE 54 – AGENDA AND NEGOTIATIONS

The Collective Building Flat Owners Board discusses the items on its agenda. The agenda is determined by the Board of Directors. If requested by 1/3 of those present at the meeting, the issues subject to the request shall be added to the agenda.

ARTICLE 55 – DECISIONS

A) The decisions of the Collective Building Owners Board shall be taken by the majority of the votes of the participants in the meeting, unless otherwise stipulated in the Law or in this Management Plan. In terms of calculating the majority of votes, the following rules shall be observed:

a. The majority of votes is calculated according to the number of participants in the meeting, in addition, the land share is not required by the majority.

b. In calculating the majority of votes, those who abstain or who attend the meeting but do not vote at all or who leave the meeting without voting are also considered to have attended the meeting.

c. Proposals that fail to secure a sufficient majority vote for adoption shall be deemed to have been rejected.

d. The independent department, whose subject matter is directly related to itself, may participate in the deliberations, but may not vote and shall not be taken into account in calculating the majority.

B) Those who attend the meetings on behalf of the independent section owner shall vote on behalf of the independent section owner. However, the same person shall not be appointed as a proxy to exercise more than five percent of the number of votes. When granting the power of representation, no limitation shall be made on the fact that there is no right to vote, and if such a limitation is made, the proxy shall not be taken to the meeting.

ARTICLE 56 – RECORDS AND DOCUMENTS

The decisions of the Collective Building Owners Board starting from (1) shall be written in the notarized notebook bearing the page numbers that go sequentially. The bottom of each resolution is signed by the independent section owners present at the meeting, and those who voted against the resolution sign the book by writing their reasons.

The deliberations of the board shall be recorded in a minutes and filed with the signatures of the six of them, the chairman of the council, the vice-president, the clerk and the participating landlords. All documents related to the board meeting are placed in this file.

The decision book of the Board, the minutes and the file of the documents are kept by the Collective Building Manager.

ARTICLE 57 – BINDING DECISIONS

 The decisions taken by the Collective Building Flat Owners Board on the matters in which it is authorized shall be binding on all independent section owners in the Collective Building and their complete and juz successors, the Collective Building Representatives Board, the Block Flat Owners Board, the Manager, the Auditor and all other relevant persons. In independent sections, those who are in possession or as a beneficial owner or tenant and those who are in possession on the basis of another legal reason and who are subject to them are also obliged to comply with the decisions of the board and to fulfill their requirements and are jointly responsible with the owner.

ARTICLE 58 – PROVISIONS OF THE LAW

If the decisions made by the Collective Building Condominium Owners Board on the issues covered by Articles 42, 43, 44 and 45 of the Condominium Law require the owners to carry out disposition transactions, the independent section owners are obliged to comply with these decisions and to participate in the official promissory note issuance procedures required by the decision, to request for registration, to approve the disposition transaction and to bear all the consequences.

COLLECTIVE BUILDING REPRESENTATIVE BOARD

ARTICLE 59 – FORMATION OF THE COLLECTIVE BUILDING REPRESENTATIVE BOARD

The Collective Building Representative Board consists of the managers of all residential Blocks and Bazaar Blocks in the FOURWINDS-PARK RESIDENCES Collective Building. In order for the decisions to be taken by this board to be valid, the board must meet in accordance with the principles set forth in this management plan and the decisions must be taken in accordance with these principles. The decisions to be taken by all or part of the block managers in these principles and in the units and meetings to be formed outside this body shall not be valid unless they turn into a decision of the Collective Structure Representative Board convened in accordance with the procedures and principles specified in the Law and this management plan.

ARTICLE 60 – RIGHT TO PARTICIPATE IN THE BOARD AND REPRESENTATION

The right to participate in the Collective Building Representative Board belongs to all Block Managers in the Collective Structure. Each Block Manager has the right to vote as many times as the number of independent departments they manage and represent on the Board.

Block Managers can represent themselves in the board with a proxy from the landlords in their Block. Members of the Collective Building Representative Board cannot act as proxies for each other.

ARTICLE 61 – TIME OF MEETING

The Collective Building Owners Board meets at least twice a year, in January and July each year. For the first meeting, the months in question are not expected. However, the decisions taken at the first meeting shall be valid for the period in which the meeting is held.

In the event that an important issue arises, upon the call of the Collective Building Manager, the Collective Building Representative Board may at any time hold an extraordinary meeting. If this call is not made by the Collective Building Manager, it is made by the Collective Building Inspector.

If requested by one third of the Block Managers in the Collective Structure, the Collective Building Manager must call an extraordinary meeting of the Collective Building Representative Board.

ARTICLE 62 – CALL PROCEDURE

Meetings shall be called by the Collective Build Manager at least fifteen days before the day of the meeting. The call specifies the location, day, and start time of the meeting. The call is made to the Block Administrators in exchange for a signature or by registered letter.

The agenda of the meeting is announced to the Block Administrators together with the call letter. In the case of extraordinary meeting calls, apart from the agenda, the names of the requesters of the meeting and the reasons for the meeting shall also be stated.

In ordinary and extraordinary meetings, if the quorum cannot be achieved at the first meeting when the first call is made, the day of the second meeting shall be determined not less than seven days and not more than fifteen days, and the place and time of the second meeting shall be notified.

ARTICLE 63 – QUORUM FOR THE MEETING

The Collective Structure Representative Board convenes with the participation of Block Managers representing more than half of the number of independent departments in the Collective Structure. If this majority cannot be achieved, the meeting shall not be opened and the situation shall be determined by a minute and a second meeting shall be held on the specified day, not less than seven days and not more than fifteen days. In the second meeting, a quorum is not required and the meeting is held with the arrivals.

ARTICLE 64 – MEETING PLACE

The Collective Building Representative Board shall meet at an appropriate place to be determined by the Collective Building Manager for this purpose. The meeting location is indicated in the call letter.

ARTICLE 65 – MEETING

The meeting starts with the presence of a quorum of Block Administrators at the meeting place (without calling this number in the second meeting) and the signing of the organized member list by the incoming members. The meeting is opened by the Batch Build Manager or, in their absence, by the oldest Block Manager.

A president, a vice-president and a clerk are elected to conduct the meeting. The minutes to be kept at the meeting shall be signed by the president, vice president, clerk and participating Block Managers to be elected. The President ensures that the agenda is discussed, the agenda items are decided and the meeting is organized.

ARTICLE 66 – AGENDA AND NEGOTIATIONS

The Collective Building Representative Board discusses the items available on its agenda. The agenda is determined by the Collective Build Manager. If requested by 1/3 of those present at the meeting, the issues subject to the request shall be added to the agenda.

ARTICLE 67 – DECISIONS

The decisions of the Board of Representatives of the Collective Structure shall be taken by the vote of the Block Managers representing the absolute majority of the number of independent departments in the Collective Structure, unless otherwise provided in the Law or in this Management Plan. The following rules shall be observed for the calculation of the quorum for the decision.

a. In calculating the quorum for the decision, those who abstain or those who attend the meeting but do not vote at all or who leave the meeting without voting are also considered to have attended the meeting.

b. Proposals that fail to secure a sufficient majority vote for adoption shall be deemed to have been rejected.

c. Blank votes cannot be cast in the elections of Directors and Auditors. If the required majority of votes cannot be achieved in the first round, the candidate who collects the most votes in the second round is considered to be elected, and in case of equality in the votes in the second round, a lot is drawn between the candidates. The winner of the draw is deemed to have been selected.

ARTICLE 68 – RECORDS AND DOCUMENTS

The decisions of the Board of Representatives of the Collective Structure shall be written in the notarized ledger bearing the page numbers starting from (1) and going sequentially. The bottom of each resolution is signed by the representatives present at the meeting, and those who vote against the resolution sign the book by writing their reasons.

The deliberations of the committee shall be recorded in a minutes and filed with the signatures of the six of them, the chairman of the council, the vice-president, the clerk and the participating representatives. All documents related to the board meeting are placed in this file.

The decision book of the Board, the minutes and the file of the documents are kept by the Collective Building Manager.

ARTICLE 69 – BINDING DECISIONS

The decisions taken by the Collective Building Representatives Board on the matters in which it is authorized shall be binding on all independent section owners in the collective structure and their kulli and juz successors, the Block Flat Owners Board, the Block Managers and Auditors, the Collective Building Manager, the Collective Building Inspector and all other relevant persons. In independent sections, those who are in the capacity of beneficial owner or lessee and those who are in possession on the basis of another legal reason and those who are subject to them are also obliged to comply with the decisions of the board and to fulfill their requirements and are jointly responsible with the owner.

ARTICLE 70 – PROVISIONS OF THE LAW

If the decisions made by the Collective Building Representatives Board on the issues covered by Articles 42, 43, 44 and 45 of the Condominium Property Law require the owners to carry out disposition transactions, the independent section owners are obliged to comply with these decisions and to participate in the official promissory note arrangement procedures required by the decision, to request for registration, to approve the disposition transaction and to bear all the consequences.

ARTICLE 71 – DUTIES OF THE COLLECTIVE BUILDING REPRESENTATIVE BOARD

The task of carrying out the maintenance, repair and services of the common places and common things belonging to the Collective Structure and taking the necessary measures for the protection of the architectural structure, appearance, landscape, integrity of the Collective Structure and the maintenance of the common life in the Collective Structure belongs to the Collective Building Representative Board. For the performance of this duty, the Collective Building Representative Board shall perform the following duties, including but not limited to the following:

a) The Collective Building Representative Board shall elect the Collective Building Manager from among the flat owners or from outside and the Collective Building Inspector from among the Collective Building floor owners.

b) Approves, amends or ensures that the Collective Building operation project prepared by the Collective Building Manager is carried out.

c) To seek the opportunities to benefit from the areas within the Collective Structure such as general lighting, afforestation, main and intermediate roads, parks, gardens, sports fields, social facilities such as parks, gardens, sports fields, social facilities or left to the use of the owners of the Collective Buildings, to determine the necessary principles for their maintenance, repair and use, and to establish relations with the municipality and official authorities for this purpose and to take decisions on these issues,

d) Instructs the Collective Building Manager for the implementation of the decisions taken and monitors the execution of the decisions,

e) Decides on the matters written in the provisions of this Management Plan regarding the rights, obligations, obligations, responsibilities of the owners of the independent departments and the provisions regarding the restriction of their rights, imposes sanctions and adjudicates the applications.

f) The Collective Building Representative Board may take decisions binding on the Block Flat Owners Boards and all the flat owners living in the Collective Building on issues related to the architectural structure, appearance, landscape and maintenance of the common life in the Collective Building. In the event that a decision taken by a Block House Owners Board or an activity of a Block Manager has a result that is harmful to the independent sections and their owners in one or several other blocks and their peaceful lives, the Collective Building Representatives Board has the authority to take and enforce the decision to prohibit it.

In the Block Flat Owners Boards, no decision can be taken that will contradict or eliminate the decisions previously made by the Collective Building Owners Board or the Collective Building Representatives Board. In more general terms, if there is a conflict between the decisions of the Collective Building Flat Owners Board or the Collective Building Representatives Board and the decisions of the Block Floor Owners Board, the decisions of the Collective Building Flat Owners Board or the Collective Building Representatives Board shall be applied.

g) The Board shall also resolve and adjudicate disputes arising between the independent section owners in the Collective Building or between the owners of the flats and the Collective Building Manager or the Collective Building Inspector or between the Collective Building Manager and the Collective Building Inspector.

h) To take decisions regarding the use, operation and maintenance of the common places of the Collective Building or the social facilities to be built, to make contracts for the operation or lease by third parties, etc. (The unanimity requirement required by Article 45 of the Condominium Law is provided by this Management Plan and the said powers are given to the Collective Building Representatives Board, and the unanimity of all the owners of the flats is sought in the withdrawal or restriction of this authority.)

i) To audit and discharge the business, transactions and accounts of the Collective Building Manager and Auditor.

KISIM 3

BATCH BUILD MANAGER

ARTICLE 72 – ELECTION OF A COLLECTIVE BUILDING MANAGER

The Collective Building Manager is the person to be appointed by the Collective Building Representatives Board from among the members of this board or from outside. The Collective Building Manager is appointed by the Board of Collective Building Representatives at the ordinary meeting held in January of each year.

The term of office of the Collective Build Manager is one year. In the event that the Collective Building Manager becomes vacant before the expiry of this period due to reasons such as resignation, death, illness and disability to the extent that he is unable to perform his duties, etc., the Collective Building Representative Board shall convene an extraordinary meeting and appoint a new Collective Building Manager to complete the remaining term of the Collective Building Manager.

In the event that a candidate for the position of Collective Building Manager cannot be found and therefore no election can be held, the Collective Building Manager shall be appointed by the Court upon the request of the Collective Building Representative Board. If the person authorized by the Board to do this work does not make a request, this request can also be made by any of the Block Administrators.

Contracts concluded by the Collective Building Manager with third parties bind all the Collective Building Manager and all the landlords to be elected later, due to continuity in management.

The identity of the Collective Building Manager is defined in Article 34 of the Condominium Property Law. It is hung with a plaque in the place where the administration is carried out in accordance with its article.

ARTICLE 73 – DUTIES OF THE COLLECTIVE BUILDING MANAGER

The Collective Building Manager is the body that will carry out all the management works of the Collective Structure and carry out the applications in accordance with the requirements of this Management Plan, in accordance with the rules in the Law and other regulations.

The tasks and duties that fall within the scope of the Collective Build Manager’s duties are as follows, without limitation:

a) To carry out the necessary works for the use, protection and maintenance of the Collective Building and the common places in accordance with its purpose, to report the results of these to the Collective Building Representatives Board, to take urgent measures, to provide supervision and supervision, to implement the decisions taken by the Collective Building Representatives Board and / or the Collective Building Flat Owners Board,

b) To prevent the independent section owners and other relevant persons from acting contrary to their debts and obligations arising from the use of the common places and things of the Collective Structure or the restrictions on the use of their independent sections, and to take all measures determined by law or this management plan in this regard,

c) To ensure the implementation of the sanctions stipulated by the Law and this Management Plan on those who violate their debts and obligations arising from the Condominium Law and this Management Plan and the decisions of the Collective Building Condominium Owners Board and / or the Collective Building Representatives Board, and to file lawsuits against those who do not fulfill their debts and obligations in this regard, to carry out enforcement proceedings and to register the legal mortgage in the deed,

d) To call the collective Building Representatives Board to a meeting when necessary and urgent,

e) To establish relations with third parties and official authorities and authorities in matters concerning the whole of the Collective Structure, to sign contracts, to take legal initiatives, to file lawsuits on the issues in which it is authorized, to follow up, to represent the Collective Structure in lawsuits and proceedings filed about the Collective Structure, to accept the notification in matters concerning the Collective Structure,

f) To collect participation shares and advances from independent department owners for general expenses and other expenses determined by the Collective Building Owners Board and/or the Collective Building Representatives Board, to determine the expenses to be made in urgent cases, to prepare additional payment lists and to request and collect advances accordingly,

g) To keep accounting records covering all income and expenditure in accordance with the technical principles, to maintain the regions on which the records are based,

h) If there is an operating project that has been accepted at the meeting of the Collective Building Representative Board, where the election of the Collective Building Manager is also held, to implement this project, if there is no such project, to immediately prepare the operating project that will determine the annual income and expenses and participation shares of the whole Collective Building and to submit it to the approval of the Collective Building Representatives Board,

i) To determine the officials and servants required for the protection, maintenance and operation of the Collective Structure, to conclude contracts with them, to renew these contracts, to determine the principles of duties and services, to prepare instructions for them, to observe and supervise them, to establish relations with official institutions in accordance with these contracts, to make legal payments such as social insurance premiums and taxes on the day, to allocate employees to the severance fund required to be allocated in accordance with the legislation and to make them in a different account follow.

j) To use the powers granted to it by this management plan regarding the use, operation and maintenance of the common places of the Collective Building or the social facilities to be built, to prepare, plan and take initiatives to ensure the implementation of changes and renewal proposals for the development of these places and facilities,

k) In line with the decisions of the Collective Building Representatives Board, to make operation and leasing etc. contracts with third parties regarding the use, operation and maintenance of the common places of the Collective Building or the social facilities to be built,

l) To examine, evaluate and respond to complaints and suggestions from independent department owners, to take the measures it deems appropriate, and to present the results of these to the first meeting of the collective Building Representatives Board,

m) To open an account with one of the national banks for the preservation of the money collected for the performance of administrative affairs, stating that it is a management account, to deposit the cash other than the money required to be kept for daily expenses into the bank account, and to withdraw sufficient amount of money from these accounts to the need,

n) At the end of the term of office, to prepare a balance sheet and an activity report showing the account status of the revenues and expenses related to the period and to submit them to the Collective Building Representatives Board together with the business project proposal covering the expenses and revenues likely to be realized in the following period,

• o) To have the decision book of the Collective Building Flat Owners Board and the Collective Building Representatives Board approved and to file all documents in an orderly manner and to keep the books and files,

The collection of revenues belonging to the Collective Structure, the work and transactions related to the expenditure of expenses are carried out by the Collective Building Manager and all the duties related to financial affairs such as the collection, preservation and keeping of the documents related to them and the approval of the books are the duty of the Collective Building Manager and are his responsibility. Withdrawal of money from the bank accounts belonging to the administration is made with the signature of the Collective Building Manager.

ARTICLE 74 – RIGHTS OF THE COLLECTIVE BUILDING MANAGER

The rights of the Collective Building Manager vis-à-vis the independent section owners, as a rule, the rights of the trustee.

The fee to be paid for the service rendered by the Collective Building Manager shall be determined by the Collective Building Representatives Board and shall be paid net. Any financial liability arising from the fees shall be covered by the common expenses of the Collective Structure.

ARTICLE 75 – COLLECTIVE CONSTRUCTION OPERATION PROJECT

The Collective Building operation project is a document showing the estimated expenses and revenues of the whole Collective Structure for one year and the share to be paid to each independent department owner for them and the advance amounts to be paid. The operation project is carried out by the Collective Building Manager in accordance with the above articles and approved by the Collective Building Representatives Board. In the preparation of the Collective Building operation project, the provisions of the Block Building operation project are applied comparatively.

In the preparation of the business project, independent department owners; equal to expenses such as janitors, heaters, gardeners, caretakers, security, cleaning services, personnel and the like, and the advance to be collected for them; arrangements and calculations shall be made in such a way as to ensure that the main property is included in the insurance premiums and other expenses such as the maintenance, protection and repair expenses of all common places and the administrator’s pension, and in the operating expenses of the common facilities and the advance to be collected for the expenses in proportion to their share of the land. The heating expenses of the independent sections in the Collective Building will not be taken into account in the calculation of common area expenses since the “share meter (calorimeter)” will be determined according to the technique for each independent section and will be collected separately from the independent sections by the Collective Building Management. However, in case of non-payment of heating expenses, the Collective Building Management will not provide heating services to the debtor independent department until the debt is paid, and in case of non-payment, it will be able to make forced collection transactions by resorting to legal remedies.

KISIM 4

COLLECTIVE BUILDING INSPECTOR

ARTICLE 76 – COLLECTIVE BUILDING INSPECTOR

The Collective Building Inspector shall be elected by the Board of Collective Building Representatives from among the landlords at the ordinary meeting held in January of each year to audit the business, operations and accounts of the Collective Building Manager. Regarding the election of the Collective Building Inspector, the procedures for the election of the Collective Building Manager shall be applied. The term of office of the Collective Building Inspector is one year. The Collective Build Inspector whose duty has expired may be re-elected. The provisions relating to the responsibilities of the Collective Building Inspector and the responsibility of the Collective Building Manager shall apply comparatively.

ARTICLE 77 – DUTIES OF THE COLLECTIVE BUILDING INSPECTOR

The Collective Building Inspector prepares an interim report by examining the records, books and documents of the Collective Building Manager every three months. If the Collective Building Inspector deems it necessary, these reports shall be notified to the independent department owners by the Collective Building Manager. If no notification is given, the Auditor may also notify himself.

If the Block Managers, who represent more than 1/3 of the independent section owners in terms of number, deem it necessary, the Collective Building Auditor is obliged to carry out the audit procedures without waiting for the three-month period and the end of the year and to send the report containing the result of the examination to the independent section owners.

At the end of the period, the Collective Building Auditor shall send the report, including his own opinions on the business and transactions examined and the account status, to the members of the Collective Building Representative Board ten days before the meeting of the Collective Building Representative Board against signature or by registered letter.

The Collective Building Inspector shall keep a notarized book to record reports and other matters relating to the audit.

CHAPTER 6

FINAL PROVISIONS

KISIM 1

INTERIM MANAGEMENT

ARTICLE 78 – INTERIM ADMINISTRATION

In this Management Plan, all the rights, duties and powers foreseen for the Collective Building Flat Owners Board, the Collective Building Representatives Board and the Collective Building Manager are given by the first floor owners to the board consisting of three persons to be appointed by FOURWINDS-PARK RESIDENCES, the producer of the project, until all block structures, common ground structures and facilities within the scope of the Main Immovable are completed and the settlement licenses of all Collective Buildings are obtained. A three-member board (hereinafter referred to as the “Provisional Board of Directors”) to be elected by FOURWINDS-PARK RESIDENCES shall exercise all the rights and powers of management. However, the term of office of the Provisional Board of Directors shall expire at the end of one year following the date on which the settlement permits (building use permit) of all independent sections in the Collective Building are completed; However, this period shall in no case exceed ten years from the date of receipt of the first building permit.

The members of the Temporary Board of Directors shall be paid four times the minimum wage for the duration of their service and the Chairman of the Board of Directors shall be paid six times the minimum wage. The remuneration of the chairman and members of the Board of Directors and any financial obligations related to these remunerations shall be covered from the common expenses of the Collective Structure.

The right and authority of the Provisional Board of Directors to manage in accordance with this Management Plan have been accepted in advance by all landlords.

The Provisional Board of Directors is authorized to determine and employ the number of personnel (including but not limited to the managing director, secretary, accountant, collector, document officer, gardener, technical personnel, cleaning personnel and the like) that will be required for the healthy performance of the services in relation to the management of the FOURWINDS-PARK RESIDENCES Collective Structure. The wages, taxes, SSI premiums, funds and compensations of the said personnel and the operating expenses of the Provisional Administration such as telephone, stationery, electricity, water, heating and cooling and all other general administrative expenses shall be counted from the common expenses of the FOURWINDS-PARK RESIDENCES Collective Structure.

The Interim Board of Directors shall be responsible for the size of the FOURWINDS-PARK RESIDENCES Collective Structure, the multiplicity of independent sections and the full use of the facilities to be constructed, the modern performance of services, the full staff and organization of the administration, and the provision of some or all of the life and service work in the FOURWINDS-PARK RESIDENCES Collective Structure, professional services companies or companies (including service companies established or to be established by the producer company) is also authorized to fulfill it.

During the period when the Provisional Board of Directors is in office, the operating projects required to be carried out in accordance with this management plan will not be carried out and will not be submitted to the approval of the owners. Flat Owners are obliged to pay the monthly expenses, expenses and advance shares determined by the Temporary Board of Directors on time. The Provisional Board of Directors is fully authorized to take legal action against the owners of the flats who do not comply with the requirements of common life in the Collective Building and who do not fulfill their obligations arising from both the Condominium Law and this Management Plan and the persons who have the right to benefit from independent sections and to make agreements with one or more lawyers for legal remedies.

The Provisional Board of Directors must have the signatures of at least one member and the chairman in all kinds of works, transactions and contracts to be carried out on behalf of the Collective Building Management.

ARTICLE 79 – TRANSFER OF SITE MANAGEMENT BY THE TEMPORARY BOARD OF DIRECTORS

At the latest at the end of the first year following the date on which the settlement permits (building use permit) of all independent sections in the collective structure are completed; The Provisional Board of Directors requests the establishment of the Collective Building Representative Board by electing the Block Managers from the landlords. The Provisional Board of Directors shall call the Collective Building Representative Board to a meeting by determining the agenda of the meeting, and at this meeting, it shall delegate its duties and powers to the Collective Building Manager to be elected by the FOURWINDS-PARK RESIDENCES Collective Building Representatives Board to be formed in accordance with this management plan. The Temporary Board of Directors may transfer the Collective Building Management at the appropriate time without waiting for the above-mentioned period.

KISIM 2

MISCELLANEOUS PROVISIONS

ARTICLE 80 – ANNEXES TO THE MANAGEMENT PLAN

The following documents are an annex, integral and integral part of this Management Plan.

1. The landscaping project specified in Article 7 of the Management Plan and to be used in practice by the producer company FOURWINDS-PARK RESIDENCES until the permission to use the building is obtained and to be submitted to the land registry directorate,

1. Shows allocated areas for projects,

• Indoor parking lot allocation project (Annex: 1 is one sheet.)
• Garden allocation project (Annex: 2 is one sheet.)
• Indoor parking allocation and garden allocation lists (Annex: 3 is eleven pages.)
• Projects that show the add-ons (Annex: 4 is three sheets.)

ARTICLE 81 – OTHER PROVISIONS

If any provision of this Management Plan is held to be invalid for any reason, the validity of the other provisions shall not be affected thereby and shall remain valid.

ARTICLE 82 – PROVISIONS RELATING TO THE BAZAAR BLOCK

The area located at the garden level above the heat center in the Bazaar Block project and shown in the garden allocation project and list in the annex to this Management Plan has been allocated for fresh air and cooling installation by the independent departments in this block. The installation, use and operation of the installation to be established in this area in a way that will not create environmental, noise and visual pollution and ensure safety, all kinds of costs, risks and responsibilities belong to the independent sections in the Bazaar Block that actually use the said area in proportion to their land shares.

The permits and consents required to be granted by the owners of the flats in accordance with the relevant legislation for the commercial enterprises to be established in independent sections in the Bazaar Block and which are not contrary to morality, manners and public order shall be deemed to have been granted by this Management Plan for the establishments in the Bazaar Block.

ARTICLE 83 – PROVISIONAL ARTICLE

Until the completion of the sale of all independent sections of the Collective Structure, the Social Facility within the FOURWINDS-PARK RESIDENCES Collective Structure shall be completed, in whole or in part, and without any compensation, by the FOURWINDS-PARK RESIDENCES. or by its representatives, the forms and principles related to this use will be determined by FOURWINDS-PARK RESIDENCES and this provision cannot be changed without the unanimity of all the owners.

ARTICLE 84 – ENFORCEMENT

This Management Plan consists of 84 articles and is valid from the date of its issuance and signed by all owners and submitted to the relevant Land Registry Office for the establishment of a floor altitude, and has been read by all owners and signed by determining its accuracy and compliance with their statements. 28.12.2007