Euro Estates, intending to support all those potentially interested in buying property in this auction system, created and developed the figure of the Ombudsman. This figure, independent professional, whose duties and obligations are described in this Regulation, is an increase in the high level of transparency and accuracy that we intend to ensure.

ARTICLE FIRST
(Requirements)

1. The appointee shall be, in the exercise of its function, independent from Euro Estates and could not therefore play such a role, exercising functions of Director or Administrator of Euro Estates, nor a shareholder, partner or employee.
2. The appointee must be licensed in law.

ARTICLE SECOND
(Appointment)

The Ombudsman is appointed by Euro Estates, exercising his office for the duration of the auction.

ARTICLE THIRD
(Customer)

It is understood by Customer for purposes of Regulation, any natural or legal person who participates directly or indirectly, in the auctions held by Euro Estates.

ARTICLE FOURTH
(Functions)

The role of the Ombudsman is to defend the interests and protection of the Customer rights, including:

a) Provide all information and explanations that may be requested by the Customer in respect of regulatory terms and conditions of the auction;
b) Assist the Customer in the preparation / exposure of any claims it deems to address to Euro Estates;
c) Receive complaints referred to in the preceding paragraph, and then forward them to the Boarding of Euro Estates;
d) Provide, develop and carry out, before the Board of Euro Estates, recommendations and proposals on all those aspects that fall within his competence and that in his opinion, imply an improvement of information, data transmission and, ultimately, greater clarity and transparency of operations previous to the auction.

ARTICLE FIFTH
(Obligations of Euro Estates)

1. Euro Estates, will take all necessary measures to ensure greater effectiveness in performance of its duties by the Ombudsman making sure that their actions be developed with complete independence.
2. In particular Euro Estates shall:
   a) Collaborate with the Ombudsman in everything that allows a more proper execution of his office, and especially to facilitate and provide him all the information requested in relation to services provided by Euro Estates;
   b) Inform the participants of the auction, as it sees fit, of the existence of the Ombudsman, as well as the content of this Regulation;
   c) Ensure that all officers and employees of Euro Estates cooperate with the Ombudsman when this is requested.

ARTIGO SIXTH
(Report)

The Ombudsman shall submit a written report before the Board of Euro Estates, within eight days after the auction, which will report on the nature of the information / clarifications as requested by Customers, without prejudice to b ) of the fourth article, supra.