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The Recipient hereby represents and warrants that:

He/She/It is an 'Investor' as defined in section 15A(b)(1)

of the Israeli Securities Law 5728-19681 and is aware of

the meaning of the fact that he/she/it is such an

investor and consents thereto.


To view the full definition of 'Investor' please follow

the link (Page 161, paragraph 12): http://www.isa.gov.il

Investment in Tel Aviv Residential Market 84 Rothschild Boulevard, Tel Aviv

+972 3 5446308 info@milifund.com

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