The following conditions apply in respect of the exemption pursuant to paragraph 2 —
(a) The exemption granted pursuant to paragraph 2 applies solely in respect of the purchase by Lazy Lagoon Limited of the properties listed in the Schedule including the buildings and appurtenances existing thereon;
(b) The Hotel existing on the properties listed in the Schedule will be owned by Lazy Lagoon Limited and managed by Almond Resorts Inc., a Barbadian Company;
(c) Lazy Lagoon Limited shall add 100 rooms to the Hotel referred to in subparagraph (b) and shall commence to do so immediately after acquisition of the properties; and
(d) Lazy Lagoon Limited shall explore the possibility of subsequently adding additional rooms to the Hotel referred to in subparagraph (b) in the near future.