Hak Sewa — signable template
Two instruments per Plot form one transaction. The notary executes hak sewa simple, the eight-clause akta sewa; the same parties sign this agreement alongside it. The two state their shared terms identically, and this agreement governs every other term. Both are executed in Bahasa Indonesia and English, the Indonesian text prevailing; the Director signs under Articles of Association Pasal 12(2)(c). Schedule 3 maps this text to the notary's long format, perjanjian sewa menyewa template.
Recitals
| field | value |
|---|---|
| Landowner | PT CYBER VALLEY ESTATE, PT PMA, Gesing, Banjar, Buleleng, Bali, established by Akta Pendirian No. 01 of 04.01.2022, NIB 2504220016017, NPWP 53.898.326.3-902.000 |
| Holder | [___], [Foreign Holder / Indonesian Holder] |
| Title | HGB No. 00048/Gesing, Annex A (Estate Registry), 40,000 m², parcel NIB 22040417.00276, Surat Ukur No. 00086/2002, right granted 08.02.2023 under KEPMEN ATR/KBPN No. 1339/SK-HK.02/X/2022, expiring 02.02.2053, registered to PT CYBER VALLEY ESTATE by AJB No. 81/2023 at the Kantor Pertanahan of Kabupaten Buleleng |
| PKKPR | No. 10082310215108014, issued through OSS on 09.08.2023, KBLI 68111, 40,000 m² |
| Plot | sinwood-[] on the estate map, Annex B (Plot Boundary), area ±[] m² |
| Term | from [___] for 25 years; the Title allows up to 02.02.2052, its expiry less 12 months, so the 25 years bind (Part 2) |
| Form and price | Plot price Rp [] · Premium []% = Rp [] at signing · year-0 rent R₀ Rp [] with its quantities in Annex E (Century Index) (Part 3) |
| Offer of record | Annex D (Offer of Record): the product page and price as shown to the Holder, version of [___] |
| Design Code | Design Code as published on [___]; the approved design is protected under 10.6 |
| Title check | pengecekan sertifikat of [] clear; Annex C (Due Diligence Pack) delivered [] |
| Notice addresses | Landowner: [email] · Holder: [email] (18.3) |
The Landowner and the Holder record that hak sewa is a contractual right under Indonesian civil law, unregistered at BPN, and that Part 2.3 states what stands in its place. Each party has read Annexes A–G and the graph pages this deed links.
Part 1. Definitions
| term | meaning |
|---|---|
| Estate | the land of the Landowner in Desa Gesing, including the Title in Annex A (Estate Registry) |
| Plot | the area described in Annex B (Plot Boundary) |
| Improvements | every building and structure the Holder erects on the Plot |
| Design Code | the Design Code page, as amended under 10.5 |
| Community Rules | the Community Rules page |
| Century Index | the unit of account of Annex E (Century Index): fixed quantities of eight world assets, set at signing for the Term |
| Register | the register of leases under 4.8 |
| Estate Certificate | the statement under 4.6 |
| Guarantee Fund | the reserve under 3.5 |
| Community Council | the body under Part 11 |
| Licence Event | as defined in 14.2 |
| Permitted Use | the Permitted Use page |
| Plot price | the price of the Plot recorded in the recitals, L₀ for Annex E (Century Index) |
| Premium | the share of the Plot price paid at signing, recited as a percentage and a sum. At 100% the Plot is paid in full; below 100% the rest is paid by instalments under the century index (3.2) |
| Unamortised premium | the Premium × (whole months of the Term remaining ÷ whole months of the Term), carried in the Annex E (Century Index) quantities from signing and valued at the date it is paid. Rent already paid is never part of it: rent buys time already held |
| Approved design | the design approved under 8.1 and protected under 10.6 |
| working day | a day banks in Denpasar are open |
Singular includes plural. Headings guide reading and bind nothing.
1.2 Indonesian terms and abbreviations. Each term below carries this meaning wherever it appears:
| term | meaning |
|---|---|
| AJB | deed of sale of a land right, executed before a PPAT |
| akta sewa | notarial lease deed |
| akta pengalihan hak sewa · akta cessie | notarial deed assigning a lease · notarial deed assigning a claim |
| awig-awig | written customary law of a desa adat |
| banjar | neighbourhood community of a Balinese village |
| BANI | Indonesian National Arbitration Board |
| BAST | record of handover signed by both sides: Lahan, of the land; Operasional, of operation; Pengembalian, of return |
| Berita Acara Mulai | record of commencement of the build clock |
| Berita Acara Persetujuan Batas | record of boundary agreement signed by adjoining owners |
| BPHTB | duty on acquisition of a land right |
| BPN | National Land Agency; its district office is the Kantor Pertanahan |
| desa · desa adat | administrative village · customary village |
| FHO · PHO | final handover · provisional handover of the works by the contractor |
| HGB | right to build: the Landowner's registered title |
| Hak Milik | freehold, open to Indonesian citizens only |
| Hak Pakai | registered right of use, open to a foreign resident |
| hak sewa | lease right: a contract with the Landowner, unregistered at BPN |
| hak tanggungan | mortgage over a land right |
| jalan desa | village road |
| JISDOR | Bank Indonesia's daily USD/IDR reference rate, see jisdor |
| KBLI | Indonesian business activity code |
| keterangan | certificate issued by the village head |
| KKPR · PKKPR | approval that a use conforms to the spatial plan |
| KUHPerdata | Indonesian Civil Code |
| LP2B | protected farmland designation |
| NIB | business identification number |
| patok | boundary marker set in the ground |
| PBB | annual land and building tax |
| PBG | building approval |
| pelepasan hak | surrender of a land right to the State |
| pembaruan | new grant of a title once its extension is used up |
| pemecahan sertifikat | split of a certificate into separate parcels |
| pengawas · MK | independent construction supervisor |
| pengecekan sertifikat | title check at BPN on the day of signing |
| per aversionem | demise of a parcel by its boundaries, the area figure indicative |
| perkumpulan | association with legal personality |
| perpanjangan | extension of a title's term |
| peta bidang | parcel map |
| PPAT | official who executes deeds on land rights |
| PPh · PPN | income tax · value added tax |
| PPJB | preliminary agreement to sell |
| rumah tinggal | dwelling house |
| SBU | contractor's business certificate |
| sempadan | statutory setback from a river, spring, road or slope |
| sita | court attachment |
| satoshi | one hundred-millionth of a bitcoin: 1 satoshi = 0.00000001 BTC |
| SLF | certificate that a building is fit for occupation |
| subak | Balinese irrigation cooperative |
| Surat Ukur | official survey of a parcel |
| WITA | Central Indonesian Time |
Part 2. Grant and term
2.1 The Landowner grants the Holder the right to use and occupy the Plot for [residential / mixed] purposes for the Term, and covenants that the Holder holds and enjoys the Plot without interruption by the Landowner or anyone claiming through it.
2.2 Term. The Term is the lesser of 25 years and the remaining term of the Title at signing less 12 months, stated in the recitals as dates.
2.3 In place of registration the Holder receives: this notarial deed and an entry in the Register; the negative pledge and non-disturbance covenants of Part 15; the covenant that every transferee of the Estate takes subject to this deed; the Estate Certificate on demand; and the Hak Pakai option of Part 12.
2.4 Renewal by right. The Holder may renew by written notice served between 24 and 12 months before the Term ends, provided sums due are paid and material defaults cured. The renewal Term is the lesser of 20 years and the remaining term of the Title at renewal less 12 months. The renewal price is
L(T) = L₀ · (T₂ ÷ T₁) · I(T) ÷ I(t₀), never below L₀ · T₂ ÷ T₁
| symbol | meaning |
|---|---|
| L(T) | the renewal price |
| L₀ | the Plot price in the recitals |
| T₂ | the renewal Term, in years |
| T₁ | the first Term, in years |
| I(T) | the dollar value of the Annex E (Century Index) quantities on the renewal date |
| I(t₀) | the dollar value of the same quantities on the signing date |
The quantities are the ones fixed at signing; only their prices move. The Landowner accepts a valid notice while the Title subsists. A second renewal needs a new grant of the Title by the State (pembaruan) and is agreed afresh at that time.
2.5 Title continuity. The Landowner keeps a title calendar in the Register, files each extension application within the window of PP 18/2021 Pasal 41 and at the latest 12 months before expiry, pursues it at its own cost, and reports annually in the Register. A late filing is the Landowner's default under 15.5. The outcome of a pembaruan rests with the State and is stated in those words.
Part 3. Consideration
3.0 Offer of record. The product page and price schedule the Holder relied on are frozen in Annex D (Offer of Record). Commitments stated there bind through this deed; statements of current state bind nothing.
3.1 Form. The Holder takes the Plot under one of two forms, elected in the recitals:
| form | at signing | thereafter |
|---|---|---|
| full payment | Premium 100% of the Plot price | area revenue charge, service charge, taxes |
| century index | the Premium recited, below 100% | rent for each lease year, set at signing as fixed quantities of Annex E (Century Index); each year's rent is those quantities at the published fixes, within the collar and floor; paid in 12 equal monthly instalments |
3.2 Rent under the century index form. The rent is a set of quantities of eight assets, fixed at signing for the whole Term. The quantities never change; the prices of the assets move, and with them each asset's share of the basket and the rupiah amount of each invoice. No interest, no fee and no review against market value sit on top. R₀, the first year's rent, follows from the Premium through the pricer at cyberia.my/cx, frozen for this deal in Annex D (Offer of Record). The Holder may at any time raise the Premium to 100% by paying the quantities of every remaining lease year, valued at the fixes of the payment date and discounted at the base rate stated in Annex D (Offer of Record), and stands thereafter on the upfront form.
3.3 Arrears. An instalment is in arrears 30 days after its due date. Arrears open a period of 6 months from the first missed due date during which the Holder may clear them, or assign under Part 4 with the assignee assuming the rent. On the day that period ends with arrears outstanding, the Landowner may terminate by written notice; sums paid stay with the Landowner as the price of the time held, and the Plot returns free of the Holder's interest. Improvements follow 16.2.
3.4 Denomination. Indexed sums are denominated in the century index under Annex E (Century Index): the quantities qᵢ, the collar and the floor are fixed at signing, the invoice moves with the basket within the collar of +35% / −15% per year measured in bitcoin, and the annex prevails over prose. The Holder may recompute any invoice from public sources within 30 days; the recomputation prevails. Settlement is in IDR at JISDOR on the invoice date under UU 7/2011. The floor keeps each year's rent at or above its year-0 value in bitcoin and in dollars.
3.5 Guarantee Fund. Every sum this deed promises to pay a Holder is backed by money set aside, held apart from the Company's operations. 5% of every sum the Landowner receives under this Part, under 4.5 and under 12.1.14 enters the Guarantee Fund before any other application. The Fund sits on a separate Company account, is denominated under Annex E (Century Index), and its balance is published in the Register and stated in every Estate Certificate. It secures the payments listed in 16.4 and the cover under 8.9, and is kept under guarantee fund policy, which sets the order of payment. Money leaves the Fund to pay a Holder a sum due, within 30 days of a supported claim or 10 days of an arbitral award, on the signatures of the Director and one Commissioner; any other outflow needs commissioner approval and is limited to a return of surplus. The Fund is a Company asset held for Holders; on insolvency a Holder ranks as an unsecured creditor. A Holder who is also a shareholder takes no part in a decision on its own claim.
Part 4. Assignment of the lease
4.1 The Holder may assign its hak sewa, the right to use the Plot for the Term, as a whole to any person without consent, subject to 4.2 to 4.11. The land and the Title stay with the Landowner.
4.2 One bundle passes: the hak sewa, the Improvements, Council membership, Annex E (Century Index) with unchanged qᵢ, and every accrued right and obligation.
4.3 Form: notarial akta pengalihan hak sewa or akta cessie; written notice with a copy to the Landowner within 7 days.
4.4 The assignee accedes in writing to the Design Code, the Community Rules and the Council, and represents absence of nominee arrangement and lawful source of funds. Residency is irrelevant to the assignee.
4.5 Assignment fee. 2.0% of the price the assignee pays, payable on notice. The conditions the assigning Holder meets reduce it to a minimum of 1.0%: every sale on the Estate funds the city. Succession under 4.10 carries no fee.
| condition | fee reduction |
|---|---|
| built within time, SLF issued | 0.5 percentage points |
| Design Code kept for the whole term | 0.25 percentage points |
| soil and water results published to the ledger without gaps | 0.25 percentage points |
| referred Holders at or above the threshold on the referral system page | fee at 1.0% |
4.5.1 Right of first refusal. Exists in Wave 1 only and lapses permanently on SLF. The Holder serves an offer notice stating price and terms 30 days before the intended sale; the Landowner may take up the whole offer within 7 working days of the notice; absent take-up the Holder may sell within 60 days at a price and on terms at least as favourable to it.
4.6 Estate Certificate. Within 10 working days of written request and free of charge: remaining term; payments and arrears; qᵢ and the latest invoice; PBG and SLF status; unremedied Design Code breaches or confirmation of none; status of the Title and any encumbrance; Guarantee Fund balance. Valid 30 days; a prospective assignee may rely on it.
4.7 Every act of the Landowner under this Part is due within 10 working days; silence is consent and confirmation.
4.8 Register. The Landowner keeps the register of leases; the entry is evidence of the Holder's rights. Each lease and each assignment is recorded as a particle in cybergraph, and a cyberlink joins every assignment to the lease it transfers. The state of a lease is public; the identity of the Holder stays in the Company's file. On divergence the notarial deed and the register prevail.
4.9 Partial assignment and subdivision need written consent and Design Code compliance.
4.10 Succession. On the Holder's death the interest passes to the heirs by operation of law, free of transfer fee. The heirs accede to the Community Rules within 12 months; meanwhile the interest subsists and the death is no default.
4.11 No security. By design of the Estate, the hak sewa, the Improvements and every right under this deed stay outside any pledge, security assignment, fiduciary transfer or other security for any debt. An instrument that purports to create one binds nobody under this deed and is a material default.
Part 5. Subletting
5.1 The Holder may sublet the Plot and elects the channel for each letting. Revenue means the gross amount the Holder or the operator actually receives for the letting.
| channel | what it is | licence | the Landowner receives |
|---|---|---|---|
| land-time | bare land, an hour to a season, no accommodation service | the Holder | area revenue charge of 10% of revenue, or 5% on a Plot that is a net exporter under 5.3; plus a settlement fee of [2]% of revenue for the booking and payment rails |
| stay | occupation with an accommodation service | the Landowner under KBLI 55199 and 55192 | management fee of [30]% of revenue, the operator's share under property management |
Land-time totals 12% of revenue, or 7% on a net-exporter Plot. Stay totals [30]%, from which the operator runs guests, requests, upkeep and listing on marketplaces.
5.2 Both channels settle in IDR at JISDOR on the invoice date. Letting periods and uses follow the Permitted Use page and the Design Code.
5.3 Net-exporter Plot. A Holder who wants the 5% rate meters the energy and water its Plot produces and consumes, keeps a harvest log of the food it produces, and publishes both monthly in the register. A Plot whose published production over the last 12 months exceeds its consumption of all three pays 5% from the next invoice. Revenue and reporting follow the Permitted Use page.
5.4 Conduct discount. The area revenue charge falls by 1 percentage point for each condition the Holder met over the last 12 months: Design Code kept; ledger results published without gaps; charges paid to date; build obligation met in time.
Part 6. The Plot as one unit
6.1 The Plot is demised per aversionem within the boundaries of Annex B (Plot Boundary); the area figure is indicative. The parties set aside the one-twentieth threshold of KUHPerdata Pasal 1486 and Pasal 1588, and exclude Pasal 1589 to 1592. A later BPN survey adjusts neither price nor term, and any claim is barred one year after delivery under Pasal 1489.
6.2 Annex B (Plot Boundary), completed and initialled, defines the boundaries this Part refers to.
6.3 The clause binds the parties only. Surat Ukur carries what BPN measures; overlap with a neighbour, sempadan, subak or jalan desa stays outside it; if the ground is smaller, the Holder receives what is there.
Part 7. Building rights and permits
7.1 The Holder builds at its own cost and risk. The Landowner constructs no Improvements.
7.2 PBG is applied for by the Landowner as title holder; the Holder prepares and funds the application, the Landowner files and cooperates within 10 working days of each request, and the Holder indemnifies the Landowner for the works.
7.3 Works start after PBG issues. Works before PBG are a material default with immediate stop rights.
7.4 Improvements are owned by the Holder for the Term under horizontal separation. Their fate at the end is in Part 16.
Part 8. Construction control
8.1 Approval. Works start after the Landowner approves the design package for Design Code compliance, the main contractor and the programme. Approval covers those matters alone and warrants nothing else. Decision within 10 working days; silence is approval. The 10 working days run from receipt of the complete package under 18.3; the Landowner may within 5 working days request missing items once, and the period restarts on their receipt.
8.2 Contractor. The works are performed by a contractor from the panel the Landowner approves and publishes in the Register. Admission to the panel requires a valid SBU and the matching KBLI. SBU, licences and the construction contract are delivered before commencement.
8.3 Supervision. The Landowner appoints an independent Indonesian supervisor (pengawas / MK), unaffiliated with either party and qualified for the works, at the Holder's cost, with power to inspect, require rectification and stop works on material non-compliance. Stage inspections: foundation, structure, roof, MEP, completion.
8.4 Insurance. The Holder procures Contractors' All Risks, third-party liability and BPJS Ketenagakerjaan for the construction period, naming the Landowner co-insured; certificates before commencement; lapse stops the works. From SLF the Holder keeps property and public liability cover.
8.5 Completion security. [5]% of the budgeted construction cost, paid in cash before commencement into a segregated Company account, held apart from operating money and from the Guarantee Fund. The balance per Plot is published monthly in the Register with the bank statement and stated in every Estate Certificate. Money leaves the account for a release under this clause, or for completion, rectification or reinstatement of abandoned works certified by the supervisor under 8.3. Released 50% at SLF and 50% at FHO, once the supervisor confirms the works match the approved design, each within 15 working days.
8.6 Handover chain. Risk moves only by a dated BAST with photographic and inventory annexes:
| # | document | between | what moves |
|---|---|---|---|
| 1 | BAST Lahan | Landowner → Holder | possession; site safety; Annex G (Handover Condition) baseline recorded |
| 2 | PHO | Contractor → Holder | practical completion; 12-month defects period, 5% retention |
| 3 | SLF | authority → applicant | permission to occupy |
| 4 | FHO | Contractor → Holder | end of defects; retention released |
| 5 | BAST Operasional | Holder ↔ operator | operation under the stay channel |
| 6 | BAST Pengembalian | Holder → Landowner | return, measured against Annex G (Handover Condition) |
8.7 SLF. Applied for by the PBG applicant, funded by the Holder, who delivers as-builts and test certificates and procures the contractor's cooperation. Occupation starts at SLF. Periodic SLF renewal follows the same route.
8.8 The Holder indemnifies the Landowner against claims, penalties, orders and costs arising from its works, occupation and use. Its mirror is 15.4. Public-law liability as PBG and SLF applicant stays with the Landowner and is covered by this indemnity between the parties.
8.9 Guarantee Fund cover. On receipt of an official penalty, order or assessment arising from the works, occupation or use of any Holder, the Guarantee Fund pays it directly, whether before or after that Holder's lease ends. The Fund then takes over the Landowner's rights under 8.8 against that Holder, and recoveries return to the Fund.
Part 9. Build obligation
9.1 The clock starts on a Berita Acara Mulai signed by both parties recording that: BAST Lahan is signed; Annex B (Plot Boundary) is initialled, patok set and the Berita Acara Persetujuan Batas signed by adjoining owners and any subak, desa or sempadan interest; legal access subsists by the estate road set out in Annex B (Plot Boundary) §3; PKKPR and zoning confirm the use; a PBG application for the approved design can be filed; access under Annex F (Utilities, Access and Mobility) is open to the Plot; and Annex C (Due Diligence Pack) is delivered with the 15.1.1 search clear.
9.2 If a condition lapses the clock stops, time-based rights extend day for day, the protection of the approved design extends by the same period, and no holding charge accrues. The party that learns of it notifies within 14 days.
9.3 Long stop. Where the conditions stay unsatisfied 12 months after signing the Holder may terminate and recover every sum paid, secured under 3.5.
9.4 Commence within 12 months of the Berita Acara Mulai; complete to SLF within 36 months of it.
9.5 Remedy ladder, in order:
- Holding charge: [0.5]% of the Plot price per month of overrun, rising by [0.25] percentage points every 6 months, paid to the biosphere and desa reserves under the biosphere and desa reserves page.
- Buy-back offer: after [12] months of overrun the Landowner offers to acquire the interest at the Unamortised premium plus an independent valuation of works completed.
- Reversion: available once the Holder declines the offer or leaves it unanswered for 60 days.
9.6 Purpose, recited: idle plots and permanent building sites harm a small community; every Holder keeps either the land or the money.
Part 10. Design Code
10.1 The Design Code binds every Holder, track and zone. It is a graph page that the city and its residents amend by proposal and vote under 10.5.
10.2 Provincial and Buleleng overlays bind regardless: height, architecture, slope and ravine setbacks, water catchment, sempadan.
10.3 Footprint and canopy ratios are measured per Plot: ground footprint up to 10%, ×2 with two floors.
10.4 Density transfer. From Wave 2 unused footprint entitlement may pass to another Plot in the same district through the Register, district balance maintained, against a settlement fee of [2]% of the price paid for the entitlement. Untransferred entitlement stays with the Plot.
10.5 Amendment. The Community Council amends the Design Code and the Community Rules by a proposal under 11.3 carried by two thirds of district weight under 11.1.1. An amendment reaches completed Improvements where it keeps or improves their position; otherwise they keep the rule they were built under.
10.6 Approved design. A design approved under 8.1 stays approved from signing to SLF plus 12 months, whatever amendment is adopted meanwhile, and passes with the lease on assignment.
10.6.1 Change required by law. Where a law, an act of authority or adat requires a change to an approved design, the Landowner notifies the Holder within 10 working days of learning of it. The change is material where it cuts the permitted footprint or floor area by more than 10%, removes a use on the Permitted Use page, or raises the compliance cost of the approved design by more than 10% of the budgeted construction cost, as certified by the supervisor or an independent valuer.
10.6.2 Within 30 days of its notice under 10.6.1 the Landowner may obtain from the authority an exemption for the Plot, grant a variance or offer an equivalent Plot.
10.6.3 Where a material change stands after 10.6.2, the Holder may within 90 days of the notice exit with the Unamortised premium and the value of works at independent valuation, secured by the Guarantee Fund, or remain and be paid the certified increased cost. A Holder silent past 90 days remains and accepts the change.
Part 11. Community Council
11.1 Membership is compulsory for every Holder and survives assignment and title upgrade. Every member votes in the Council. Company shares add weight under 11.1.1; they may be bought at any time at the price per share the Company page publishes from the Company's current valuation. A perkumpulan is constituted in Phase 3 to hold shared infrastructure.
11.1.1 Weight. Each participant carries a weight fixed on entry and moved only when a stake moves:
base = √(A ÷ D) + √(S ÷ N)
| symbol | meaning |
|---|---|
| base | the participant's entry weight |
| A | the area of the participant's Plots in the district |
| D | the area of the district |
| S | the Company shares the participant has bought |
| N | all Company shares bought by participants |
Company shares are bought separately from land; neither is consideration for the other. The base is the participant's voting weight.
Weights are normalised per district each moon cycle, capped at 10% per participant, and published in the Register with their inputs. A Holder may challenge an input within 30 days; the correction applies from the next cycle.
11.2 Protection of what is built. Completed Improvements keep every right they were built with; an amendment of the Design Code or the Community Rules reaches them where it keeps or improves their position.
11.3 Initiative. A proposal carrying [10]% of district weight is answered by the Board of Directors in writing in the Register within 30 days; silence is acceptance, subject to 10.2 and 11.2. Proposals carried under 10.5 amend the Design Code and the Community Rules.
11.4 Service charge. The actual cost of operating and maintaining Z4 and Z8 infrastructure serving the district, apportioned by Plot area, capped at [1]% of the Plot price per year indexed under Annex E (Century Index). The Landowner publishes the budget before each year and the audited account within 90 days after it; a Holder may inspect the records on 30 days' notice. Trails and commons are open to residents under the service charge.
11.5 Each Plot is self-sufficient in energy, water and waste under the Design Code and Annex F (Utilities, Access and Mobility). The Landowner provides legal access to the Plot by the estate roads from the mobility hub. Where the Landowner opens a connection to an estate system, it does so for the period, capacity and tariff the Register publishes, and the connection ends on the date stated. Cars and combustion vehicles stop at the mobility hub; small electric vehicles move freely inside: e-bikes, e-scooters and electric carts. Annex F (Utilities, Access and Mobility) states access, parking, construction logistics and waste removal.
Part 12. Upgrade tracks
12.1 Track F, Hak Pakai for a Foreign Holder. The Holder holds an option, part of what it buys, passing with the bundle and binding the Landowner through every change of ownership or control, to require the Hak Pakai procedure over the Plot to be started and carried to registration. The hak sewa stays a hak sewa until the land office grants the new right; the Landowner's undertaking is to perform every act within its power, in time.
12.1.1 Route: (1) the Holder pays the conversion price under 12.1.9A and the costs under 12.1.9; (2) pemecahan sertifikat at BPN; (3) pelepasan hak over the split parcel, executed once the Holder's eligibility is confirmed in writing and the grant application is lodged; (4) grant of Hak Pakai to the Holder on the deed before the PPAT. Where the Office Practice page records a different order of the same steps, the office's order governs.
12.1.2 Conditions of law on the Holder, warranted by nobody: eligibility under PP 18/2021 Pasal 49(2)(e) and 69(1); a valid residence permit; the Bali minimum value of Rp 5,000,000,000 for land and house together, one parcel per person or family, up to 2,000 m², under Kepmen ATR/BPN 1241/SK-HK.02/IX/2022. The recitals state this figure against this Plot.
12.1.3 The Hak Pakai runs 30 years, extendable by 20 and renewable by 30 under PP 18/2021 Pasal 52(1), each cycle granted by the office.
12.1.4 Trigger. A Hak Pakai Notice may be served once SLF has issued, an independent valuation annexed to the Notice meets the threshold, a residence permit is in force, and sums due are paid with no uncured material default. Where the Office Practice page confirms acceptance at PBG stage, the Notice may be served then.
12.1.5 On a valid Notice the Landowner performs every act within its power: pemecahan with survey and boundary process; the pelepasan and grant application; every deed, consent, power and declaration the PPAT or the office requires; its own corporate authorisations; delivery of certificate, Surat Ukur, PBB receipts, NIB and tax documents; appearance at every stage; and abstention from any act that delays the application.
12.1.6 Time limits. The Landowner:
(a) acknowledges the Notice, naming the responsible officer, within 10 working days of receiving it;
(b) files the pemecahan application complete within 60 days of the Notice;
(c) files the grant application within 30 days of registration of the pemecahan;
(d) executes any deed required by the PPAT or the office within 14 days of the request;
(e) delivers any document or signature required by the PPAT, the office or the Holder within 10 working days of the request;
(f) notifies the Holder of any step added under the Office Practice page within 5 working days of learning of it, and completes that step within 30 days of learning of it.
12.1.7 Standstill. From signing until registration or final failure the Landowner refrains, absent the Holder's written consent, from disposing of the Plot or its parcel otherwise than subject to this deed, granting any right over the Plot, creating any security or notation over the Plot or the certificate it is split from, and surrendering or altering the Title otherwise than as this Part requires. The stricter of this clause and 15.2 applies.
12.1.8 Power of attorney. To the extent the law permits, the Landowner grants the Holder an irrevocable power, in the notary's form executed with this deed, to sign in its name the instruments of 12.1.5 left unsigned past the periods of 12.1.6. The obligation of 12.1.5 stands on its own.
12.1.9 Costs. Holder: survey and pemecahan, the grant procedure, PPAT and notarial fees, registration fees, BPHTB on the grant, the PPh due on the pelepasan (paid by the Landowner and reimbursed by the Holder within 10 working days of evidence of payment), the valuation, its own advisers, and a processing fee of [2.0]% of the valuation under 12.1.4. Landowner: its own authorisations and advisers, the Office Practice verification, cure of any defect in its Title or licences, and every step repeated through its own act or omission.
12.1.9A Conversion price. The hak sewa is a lease and its consideration buys the Term only. The Plot under Hak Pakai is acquired for a conversion price equal to the valuation under 12.1.4 of the Plot held under Hak Pakai, fixed as at the date of the Notice, less the Unamortised premium at that date. The conversion price is paid before the pelepasan is executed and is refunded in full on any failure under 12.1.10.
12.1.10 Failure. The cause decides the consequence:
| cause | test | consequence |
|---|---|---|
| the Landowner's act, omission, delay or corporate state | a 12.1.6 period exceeded or a 12.1.5 act unperformed | 12.1.11 |
| refusal by the office, change of law, act of authority | the written decision produced | 12.1.12 |
| the Holder's own condition of law unsatisfied | the condition shown unsatisfied at application | hak sewa continues; a further Notice may follow once satisfied |
A 12.1.6 period is exceeded for the first row only if the act remains unperformed 10 working days after the Holder's written demand and is not performed under 12.1.8. A refusal grounded on a defect in the Landowner's Title, licences, taxes or documents falls in the first row. Absent a decision 12 months after a complete grant application, the application counts as refused under the second row. The third row covers a condition unsatisfied at application or lapsing before registration. Mixed causes follow the cause without which registration would have succeeded; where no single cause meets that test, the first row applies. The Landowner carries the burden of showing the second row.
12.1.11 Remedies for the Landowner's cause, cumulative at the Holder's election, save that exit ends the other remedies from the exit date: specific performance, damages being recorded as inadequate; delay compensation of [0.5]% of the sums paid under this deed per month from the exceeded period until performance or exit; exit with the Unamortised premium, the value of Improvements at independent valuation and direct loss, secured by the Guarantee Fund; suspension of the area revenue charge and of instalments until cure or exit, without default. The cap of 15.4 leaves specific performance and the exit sum untouched.
12.1.12 Refusal by the office or change of law. The hak sewa continues for its Term with every right. The conversion price returns to the Holder under 12.1.9A. At the Holder's request and cost, the Landowner re-applies whenever the law or the office's practice changes to permit the application.
12.1.13 Before the first Notice the Landowner obtains in writing, at its cost, from the Kantor Pertanahan of Buleleng and from counsel, the answers to the eight questions of the Office Practice page: the order of pemecahan, pelepasan hak and grant; the construction stage at which an application is accepted; the documents required; the spatial-plan treatment of the Estate; the current value, area and parcel limits for a foreign holder; the power of attorney under 12.1.8; the rumah tinggal test; and the covenant mechanism of 12.1.14. This Part is conformed to the answers.
12.1.14 On registration the hak sewa over the Plot ends; the parties execute the notary's deed of termination and the Register entry is closed; the conversion price having been paid, no further consideration is due for the Plot; the Design Code, the Community Rules, Council membership and the area revenue charge continue to bind the Hak Pakai holder through covenants recorded in the acquisition deed and easements over access and utilities, drafted with the notary before the first Notice. Company shares the Holder has bought stay with the Holder.
12.1.15 Disclosed before election: a Hak Pakai is registered and residency-dependent, its resale pool is narrower, and it replaces the assignment freedom of Part 4. The base lease serves many Holders better.
12.2 Track I, title for an Indonesian Holder. On request the Landowner procures pemecahan and transfers the split HGB by AJB before the PPAT at a price equal to the valuation under 12.1.4 of the Plot held under HGB, fixed as at the date of the request, less the Unamortised premium at that date, paid before the AJB. Conversion to Hak Milik is the Holder's own application: Indonesian citizen, natural person, rumah tinggal evidenced by PBG or a village head's keterangan, the simplified route up to 600 m², a declaration within 5 parcels or 5,000 m². An Indonesian citizen married to a foreign national produces the notarial separation-of-assets agreement PP 18/2021 Pasal 70 requires before the upgrade starts.
12.3 After any title change the Design Code, the Community Rules and Council membership continue through covenants in the AJB, easements over access and utilities, and Council membership as a condition of sale. Company shares the Holder has bought stay with the Holder.
Part 13. Representations
13.1 Landowner: valid title; encumbrances as disclosed in Annex C (Due Diligence Pack) and none other; zoning and KKPR permit the use; licences and their locational scope as in Annex A (Estate Registry) §3; the warranties of 15.1.
13.2 Holder: identity and status; lawful source of funds; absence of nominee arrangement; ability to fund construction.
13.3 Disclosed at signing and initialled: the term of the Title and its renewal risk; zoning status; the unregistered nature of hak sewa; the footprint of this Plot in square metres: 10% of its area; the Rp 5,000,000,000 threshold of 12.1.2; the core closed to cars and combustion vehicles and open to small electric vehicles and electrical equipment under Annex F (Utilities, Access and Mobility).
Part 14. Licences
14.1 The Landowner warrants a valid NIB at its registered address in Gesing, with every KBLI of Articles of Association Pasal 3 issued and in force, as the company licences page records.
14.2 Licence Event: suspension, revocation, non-renewal or material restriction of a Landowner licence needed for the activity.
14.3 A Licence Event is no breach and no ground for termination while the Holder's occupation and use continue undisturbed; the right to grant this lease derives from the Title.
14.4 The Landowner notifies within 14 days with cause and cure plan. Remedies by impact:
| impact on the Holder | remedy |
|---|---|
| none | cure within 180 days, extended while diligently pursued |
| the Landowner is unable to process PBG or perform an agreed act | the matching Holder obligation and construction deadlines are suspended; time-based rights extend day for day |
| the Holder is deprived of use for more than 90 consecutive days | pro-rata abatement; thereafter termination with the Unamortised premium, secured by the Guarantee Fund |
14.5 During a Licence Event the Landowner reports quarterly to the Council and makes no grant that aggravates the position. 14.3 and 14.4 fall away where the event results from the Landowner's fraud, wilful misconduct or failure to remedy after repeated written warnings from the authorities.
14.6 The Holder's own licences are the Holder's responsibility under Part 5.
Part 15. Title warranties, negative pledge, indemnity
15.1 Warranties, given at signing, repeated on each anniversary and to each assignee on assignment, without knowledge qualification: the Company is duly incorporated with paid capital and a valid NIB; the Title is a valid HGB certificate with number, dates and remaining term as in Annex A (Estate Registry); a PKKPR covering the use subsists and is annexed; the Plot sits on certificated land, free of hak tanggungan, sita, lease, PPJB, option and third-party possession; no proceedings and no adat, subak or desa claim affect it; zoning and KKPR permit the use; the Plot carries no LP2B designation and falls outside sempadan; PBB is paid; the chain of title is disclosed.
15.1.1 Annex C (Due Diligence Pack) is delivered before signing with a BPN search dated within 30 days; the PPAT performs pengecekan sertifikat on the day of signing and the result is recited; the Landowner warrants nothing was created over the Plot between search and signing.
15.2 Negative pledge. The Landowner refrains from encumbering the Plot, granting competing rights over it, or disposing of it otherwise than subject to this deed with the transferee bound. articles of association Article 12(3) independently prohibits encumbrance; this clause stands on its own if the Articles change.
15.3 Non-disturbance. Any transferee of the Title or of the Estate, by any route, takes subject to this deed. By design of the Estate the land stays outside any pledge or security for debt.
15.4 The Landowner indemnifies the Holder against loss, cost, penalty and reasonable legal expense from breach of 15.1, third-party rights subsisting at signing, loss or non-renewal of the Title otherwise than through the Holder's act, and inability to obtain PBG or SLF for reasons attributable to the Landowner's title or licences. Cap: sums paid by the Holder plus the valuation of Improvements. Claims may be brought within [3] years after termination.
15.5 Title defect remedies:
| situation | remedy |
|---|---|
| curable within 90 days, use unaffected | cure at the Landowner's cost; deadlines suspended, time-based rights extended day for day |
| deprivation of use beyond 90 consecutive days | pro-rata abatement |
| deprivation beyond 180 days, or incurable | termination for the Landowner's default: the Unamortised premium, the Improvements at independent valuation, and the Holder's direct loss |
Part 16. Default, termination, end of term
16.1 Default and cure, equal for both sides. A party in breach receives written notice naming the breach. Cure periods: payment, 30 days; other breaches, 60 days; breaches whose cure needs a permit or works, 180 days while diligently pursued. A breach uncured past its period is a material default. The Holder may assign under Part 4 during any cure period, the assignee taking the cure period as it stands. Repeated breach of one Community Rules standard, remediated once and recurring within 12 months, is a material default on the second notice.
16.2 Improvements. At expiry without renewal, Improvements pass to the Landowner against compensation at independent valuation, unless the Holder elects within [6] months before expiry to remove them by the end of the Term. On termination for the Landowner's default 15.5 applies. On termination for the Holder's default compensation is reduced by the Landowner's documented loss. Valuation: one valuer agreed within 15 working days, failing which each party appoints one and the two appoint a third whose figure binds.
16.3 Title failure. Where the Title lapses through no act of the Holder: compensation under 16.2 plus the Unamortised premium, secured by the Guarantee Fund.
16.4 The Guarantee Fund secures the payments under 9.3, 9.5(2), 10.6.3, 12.1.11, 14.4, 15.4, 15.5 and this Part.
16.5 Return. The Holder delivers the Plot under BAST Pengembalian measured against Annex G (Handover Condition) within 60 days of the end date, with charges and taxes settled.
Part 17. Force majeure, adat, disputes
17.1 Force majeure: volcanic activity, earthquake, landslide, extreme weather, flood, epidemic, act of authority. Affected obligations are suspended, time-based rights extend day for day, the affected party notifies within 14 days and mitigates, and either party may terminate without fault where the event subsists beyond [12] months, Improvements following 16.2 at valuation net of insurance proceeds under 8.4. Each party bears its own loss save as insured.
17.2 Adat. The Holder complies with the awig-awig of the desa adat, the banjar and subak arrangements affecting the Estate, ceremonial access and processional routes, and the customary contributions of residents, as the adat section of the Community Rules page records them. The Landowner discloses them before signing.
17.3 Disputes. Indonesian law. Negotiation for 30 days, then mediation for 30 days, then arbitration under BANI rules, seat Denpasar, three arbitrators, language Indonesian with an English translation of the award, as the sole forum on the merits. Pengadilan Negeri Denpasar is chosen as domicile for interim relief and enforcement.
Part 18. Taxes, currency, general
18.1 Taxes. PPh on the lease, borne by the Landowner as recipient and withheld by the Holder where the Holder is a withholding agent; PPN on the lease and on services, added to stated prices; PBB on the Plot, borne by the Holder from BAST Lahan; BPHTB and PPh on any title transfer, by the acquirer and the transferor respectively under law; taxes on assignment, by the assignor; regional accommodation tax on the stay channel, by the operator; notarial and PPAT fees of this deed, shared equally; splitting and conversion costs under 12.1.9; service charge under 11.4. Prices are stated net of tax.
18.2 Obligations may be denominated in the century index; invoices and settlement are in IDR at JISDOR on the invoice date.
18.3 Notices. Every notice, request, approval package and answer under this deed is made in writing, in Indonesian or English, by email to the addresses in the recitals, with a copy entered in the Register. An email is received on the working day it is sent where sent before 15:00 WITA, otherwise on the next working day; the sender keeps the delivery record. Post and courier carry signed originals only and start no period. A party changes its address by notice, effective 5 working days after receipt.
18.4 General. Personal data: the Register and the ledger publish Plot state and results and keep the Holder's identity private. KYC and source-of-funds documents are delivered before signing. This deed with its Annexes is the entire agreement; a void clause is severed and the rest stands; counterparts and electronic signature are permitted where the notarial form allows.
Annexes and linked pages
| annex | content |
|---|---|
| A | Estate Registry: the Title |
| B | Plot Boundary: the Plot, its neighbours, its access, its drawing |
| C | Due Diligence Pack: the documents handed over before signing, with the record of handover |
| D | Offer of Record: the product page and price as shown |
| E | Century Index: terms, formulas, rules, quantities at signing |
| F | Utilities, Access and Mobility: self-sufficiency norms per Plot |
| G | Handover Condition: the record of handover of the Plot |
| linked page | what it governs |
|---|---|
| Design Code | what is built and how |
| Community Rules | how the Plot is lived on |
| Permitted Use | instruments, zones, land-time reporting |
| Guarantee fund policy | inflows, ledger, order of payment |
| Biosphere and desa reserves | where holding charges and tithes go |
| Company licences | NIB, KBLI, PKKPR |
| Office Practice | land office and counsel answers on Hak Pakai and Hak Milik |
| Referral system | leasehold and event referrals |
Signature
| PT CYBER VALLEY ESTATE, by its Director | the Holder |
|---|---|
| __________________ | __________________ |
| witnesses: [], [] | notary: [___] |
Schedule 1. Values
Figures in brackets in the text:
| clause | figure | proposal |
|---|---|---|
| 3.1 | century index form | premium elected per deal, the rest as indexed rent paid monthly, per annual leasehold and the pricer at cyberia.my/cx |
| 3.2 | early redemption | remaining rent at current R(t), discounted at the base rate of the offer of record |
| 3.3 | arrears window | 6 months, per annual leasehold |
| 5.1 | settlement fee | 2% within the 1 to 3% of D10 |
| 8.5 | completion security | 5% of budget, 50% at SLF, 50% at FHO |
| 9.5 | holding charge, buy-back trigger | 0.5% per month +0.25 pp per 6 months; 12 months |
| 10.4 | density settlement fee | 2% |
| 11.1.1 | weight cap | 10% of district weight |
| 5.4 | conduct discount | 1 percentage point per condition, 4 conditions |
| 11.3 | initiative threshold | 10% of district weight |
| 11.4 | service charge cap | 1% of Plot price per year |
| 12.1.9 | processing fee | 2.0% of the valuation |
| 12.1.9A | conversion price | valuation at the Notice less the Unamortised premium |
| 4.5 | assignment fee minimum | 1.0% |
| 5.1 | stay management fee | 30% of revenue, per property management |
| 12.1.11 | delay compensation | 0.5% of sums paid per month |
| 15.4 | limitation | 3 years after termination |
| 16.2 | removal election | 6 months before expiry |
| 17.1 | force majeure termination | 12 months |
| 2.4 | renewal price | L₀ · (T₂ ÷ T₁) · I(T) ÷ I(t₀), floored at L₀ · T₂ ÷ T₁ |
| 4.5 | referral threshold | 3 referred Holders in good standing, fee at 1.0% |
Schedule 3. Map to the notary's format
| this template | perjanjian sewa menyewa template |
|---|---|
| Recitals, Part 1 | Pembukaan, Pasal 1 |
| Part 2 | Pasal 2, Pasal 8 (Opsi Perpanjangan) |
| Part 3 | Pasal 3 |
| Part 4, Part 5 | Pasal 4 |
| Part 15, 2.1 | Pasal 5 |
| Parts 7, 8, 9, 10 | Pasal 6, Pasal 7 |
| Part 18 | Pasal 9 |
| Part 16 | Pasal 10, Pasal 12 |
| 12.1.8 | Pasal 11 |
| 17.1 | Pasal 13 |
| 17.3 | Pasal 14, Pasal 15 |
| Part 13 | Pasal 16 |