ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges that: 7.1 The Property will fall under the governance of the relevant Sectional Title Acts and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to the Sectional Title Development and agrees to be bound thereby from date of occupation; 7.2 The Plans have not been finally prepared or approved, and that accordingly the exact and final boundaries and areas of the property will as shown on the Sectional Plan as finally approved and registered; 7.3 Transfer of the property is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Sectional Title Register or the amendment thereof. 7.4 Subject to other terms in this agreement, the Purchaser shall not be entitled to claim cancellation of this agreement or any reduction in the purchase price by reason of any alteration to the number, size, location of the property from that shown in the Information Schedule; 7.5 It undertakes to accept transfer of the property as may be redefined and re- numbered in the Sectional Plan Approved by the relevant local authority and the Surveyor- General; 7.6 He is aware that the sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts of the Sectional Title Development, subject to compliance to the regulations of the local authority with regards to land use. 7.7 The exclusive use areas shall be allocated to the Purchaser by the Developer in terms of this agreement and in accordance with the Acts; 7.8 On occupation date, some portions of the development may be incomplete. The Purchaser acknowledges that the Developer intends to construct the development and install all the necessary services in phases, which may take place after transfer, and that the Purchaser may suffer inconvenience from ongoing building operations, noise, dust and other nuisance factors in this regard; 7.9 The Purchaser shall have no claim whatsoever against the Developer nor be entitled to interdict, cancel this agreement or withhold any payments to the Developer, provided that the Developer shall use its best endeavours to complete all aspects of the construction and the completion of the development as expeditiously as is possible in the circumstances; 7.10 Transfer to the Purchaser of the property may, in the discretion of the Developer, be simultaneous with transfers to other Purchasers in the scheme. Accordingly, lodgement of the Purchaser’s transfer documents at the Deeds Office shall be entirely in the discretion of the Conveyancers and the Purchaser’s obligation to pay occupational rent shall remain and be unaffected by any delay occasioned by the above; 7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement; 7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only; 7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property; 7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation; 7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offered. 7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 3 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges thatand declares:
7.1 The Property will fall under 2.1 that the governance meanings and consequences of the relevant Sectional Title Acts provisions of this Agreement have been satisfactorily explained to him by the Agent;
2.2 that he is fully aware that the Seller has taken steps to establish a township on the property known as the Remaining Extent of Portion 706 (portion of Portion 75) of the farm Klipfontein 83, Registration Division I.R., Province of Gauteng, that the township has not been declared an approved township and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining that his signature on this document constitutes an offer to the Sectional Title Development Seller to purchase the Property, which offer shall be open for acceptance 30 (thirty) days after the Seller obtains the permission contemplated in section 70 of the Town- Planning and agrees to be bound thereby from date Townships Ordinance 15 of occupation1986;
7.2 The Plans have 2.3 that he is fully aware that the Sectional Plan has not been finally prepared or approvedapproved as yet, as it can only be prepared once the construction of the Building has reached such an advanced state which allows the surveyor to prepare the Sectional Plan, and that accordingly the exact and final boundaries and areas area of the property Section will be as shown indicated on the approved Sectional Plan as finally approved and registeredPlan;
7.3 Transfer of the property is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Sectional Title Register or the amendment thereof.
7.4 Subject to other terms in this agreement, the Purchaser 2.4 that he shall not be entitled to claim cancellation of cancel this agreement Agreement or to any reduction in the purchase price Purchase Price by reason of any alteration changes to the number, size, location number of the property from that shown in Section necessary to be effected by the Information Schedule;
7.5 It surveyor during the drafting of the Sectional Plan and the Purchaser undertakes to accept transfer of the property Property as may be redefined and re- re-numbered in on the approved Sectional Plan;
2.5 that he is fully aware that the Sectional Plan Approved by will be registered and the Register will be opened in the relevant local authority deeds registry as soon as it is reasonably possible after the Completion Date and that transfer of the Surveyor- GeneralProperty shall preferably take place simultaneously with or as soon as possible after the opening of the Register;
7.6 He 2.6 that he is fully aware that the sections Scheme will be developed in phases and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer Seller will reserve the right to do rentals on certain parts extend the Scheme as contemplated in section 25 of the Sectional Title Development, subject to compliance to STA in respect of which the regulations Seller will take out a Certificate of Real Rights as contemplated in section 12(1)(e) of the local authority with regards to land use.STA;
7.7 The exclusive use areas shall 2.7 that both the Seller and Rendev Property Group (RF) Proprietary Limited, Registration Number: 2017/204893/07, will be allocated to a registered home builder before the Purchaser commencement of the construction of the Building as contemplated in section 10 of the Housing Consumers Protection Measures Act 95 of 1998; and
2.8 that the investing of any funds by the Developer Transferring Attorney in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, some portions section 86(4) of the development may be incomplete. The Purchaser acknowledges that Legal Practice Act 28 of 2014 (“the Developer intends Legal Practice Act”) is subject to construct the development and install all the necessary services in phasesprovisions of section 86(5)(b) thereof, which may take place after transfer, and provides that 5% of the Purchaser may suffer inconvenience from ongoing building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser shall have no claim whatsoever against the Developer nor interest accrued on funds so invested must be entitled to interdict, cancel this agreement or withhold any payments paid to the Developer, provided that the Developer shall use its best endeavours to complete all aspects of the construction and the completion of the development as expeditiously as is possible in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the discretion of the Developer, be simultaneous with transfers to other Purchasers in the scheme. Accordingly, lodgement of the Purchaser’s transfer documents at the Deeds Office shall be entirely in the discretion of the Conveyancers and the Purchaser’s obligation to pay occupational rent shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offeredLegal Practitioners’ Fidelity Fund.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 2 contracts
Samples: Agreement of Sale, Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges thatand declares:
7.1 The Property will fall under 2.1 that the governance meanings and consequences of the relevant Sectional Title Acts provisions of this Agreement have been satisfactorily explained to him by the Agent;
2.2 that he is fully aware that the Seller is in the process of complying with the conditions imposed by the City of Cape Town in its approvals for the rezoning and phased development of Xxx 00000 Xxxxxxxx Xxxx, in the Body Corporate with regards to all rulesCity of Cape Town, regulationsDivision Stellenbosch, conditions, servitudes of whatever nature pertaining to Western Cape Province dated 3 October 2019 and 27 January 2020 respectively;
2.3 that he is fully aware that the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not been finally prepared or approvedapproved as yet, as it can only be prepared once the construction of the Building has reached such an advanced state which allows the surveyor to prepare the Sectional Plan, and that accordingly the exact and final boundaries and areas area of the property Section will be as shown indicated on the approved Sectional Plan as finally approved and registeredPlan;
7.3 Transfer of the property is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Sectional Title Register or the amendment thereof.
7.4 Subject to other terms in this agreement, the Purchaser 2.4 that he shall not be entitled to claim cancellation of cancel this agreement Agreement or to any reduction in the purchase price Purchase Price by reason of any alteration changes to the number, size, location number of the property from that shown in Section necessary to be effected by the Information Schedule;
7.5 It surveyor during the drafting of the Sectional Plan and the Purchaser undertakes to accept transfer of the property Property as may be redefined and re- re-numbered in on the approved Sectional Plan;
2.5 that he is fully aware that the Sectional Plan Approved by will be registered and the Register will be opened in the relevant local authority deeds registry as soon as it is reasonably possible after the Completion Date and that transfer of the Surveyor- GeneralProperty shall preferably take place simultaneously with or as soon as possible after the opening of the Register;
7.6 He 2.6 that he is fully aware that the sections Scheme will be developed in phases and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer Seller will reserve the right to do rentals on certain parts extend the Scheme as contemplated in section 25 of the Sectional Title Development, subject to compliance to STA in respect of which the regulations Seller will take out a Certificate of Real Rights as contemplated in section 12(1)(e) of the local authority with regards to land use.STA;
7.7 The exclusive use areas shall 2.7 that the Seller will be allocated to a registered home builder before the Purchaser commencement of the construction of the Building as contemplated in section 10 of the Housing Consumers Protection Measures Act 95 of 1998; and
2.8 that the investing of any funds by the Developer Transferring Attorney in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, some portions section 86(4) of the development may be incomplete. The Purchaser acknowledges that Legal Practice Act 28 of 2014 (“the Developer intends Legal Practice Act”) is subject to construct the development and install all the necessary services in phasesprovisions of section 86(5)(b) thereof, which may take place after transfer, and provides that 5% of the Purchaser may suffer inconvenience from ongoing building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser shall have no claim whatsoever against the Developer nor interest accrued on funds so invested must be entitled to interdict, cancel this agreement or withhold any payments paid to the Developer, provided that the Developer shall use its best endeavours to complete all aspects of the construction and the completion of the development as expeditiously as is possible in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the discretion of the Developer, be simultaneous with transfers to other Purchasers in the scheme. Accordingly, lodgement of the Purchaser’s transfer documents at the Deeds Office shall be entirely in the discretion of the Conveyancers and the Purchaser’s obligation to pay occupational rent shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offeredLegal Practitioners’ Fidelity Fund.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 2 contracts
Samples: Agreement of Sale, Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. (eighteen) month The Purchaser acknowledges that:
7.1 The Property will fall under the governance of the relevant Sectional Title Acts and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to 4.1 the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not yet been finally prepared or approved, approved and that accordingly the exact and final boundaries and areas of the property Section and the Exclusive Use Areas, will as be those shown on the Sectional Plan as finally approved Plan. The undivi ed share in the Common Property apportioned to the Section shall be in accordance with the Participation Quota, upon approval and registeredregistration of the Sectional Plan;
7.3 Transfer 4.2 the Building has not yet been erected or completed as the case may be;
4.3 the extent of the property Section on the Sectional Plan will be measured by the Land Surveyor in terms of the Act;
4.4 transfer of the Section and cession of the rights to the Exclusive Use Areas is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Register; or forthwith after
4.5 he has read and approved the Plans and the Specification and that he will be obliged to accept delivery of the Section and Areas: the Exclusive Use
4.5.1 completed substantially according to the Plans and the Specification;
4.5.2 as finally depicted and delineated on the Sectional Title Register Plan;
4.6 the Plans and the Specification, insofar as they relate to the structure of the Building, including but not limited to all m easurements and dimensions reflected in this Agreement, may be subject to variation (“the variations and specifications”),:
4.6.1 as a result of the requirements of:
4.6.1.1 all authorities having jurisdiction over the construction and finishing of the Building; and
4.6.1.2 the Architect, engineer or any other member of the professional team appointed in relation to the Scheme, arising on either aesthetic, technical or construction grounds, or
4.6.2 to such extent as may be reasonably necessary, to:
4.6.2.1 comply with any special impediments such as water, sewer or electrical lines either above or underground or any rock or other soil condition;
4.6.2.2 give effect to any changes in materials, finishes or fittings which the Seller considers to be appropriate or which may not be readily available at the time due to shortage in supply of such materials, finishes or fittings, without however detracting from the quality of the Building and/or Section, but that there will be no material change to the floor plan of the Section, nor to the Specification insofar as it relates to internal finishes in the Section other than with the prior written consent of the Purchaser, which consent shall not unreasonably be withheld or under the substitution provisions of clause 11.2;
4.7 any images reflected or displayed on the Seller’s website, in any marketing brochures, pamphlets and any other advertising material, or as reflected in Annexures “E” and “G”, are for illustrative purposes only and will not be binding on the Seller;
4.8 any model of the Section or the amendment thereof.
7.4 Subject to Building made by or on behalf of the any advertisement or other terms in this agreementadvertising material used for purposes of marketing the Scheme and/or the Section shall not constitute a representation by the Seller, and the Purchaser shall not be entitled to claim cancellation of this agreement or rely on any reduction in the purchase price by reason of any alteration to the number, size, location of the property from that shown in the Information Scheduleinformation therein;
7.5 It undertakes to accept transfer of the property as may be redefined and re- numbered in the Sectional Plan Approved by the relevant local authority and the Surveyor- General;
7.6 He 4.9 he is aware that at the sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts time of the Sectional Title Developmentopening of the Register or transfer of into his name, subject it may not be possible to compliance simultaneously cede the rights to the regulations Exclusive Use Areas to him. In such an event, the cession of the local authority with regards rights to land use.
7.7 The exclusive use areas the Exclusive Use Areas, shall take place as soon as possible after the opening of the Register “Transfer Date” shall be allocated to interpreted accordingly; and the Purchaser by definition
4.10 on the Developer in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, Com pletion Date some portions of the development Common Property and other sections in the Building may be incomplete. The Purchaser acknowledges that the Developer intends to construct the development incomplete and install all the necessary services in phases, which may take place after transfer, and that the Purchaser as a result:
4.10.1 he may suffer inconvenience from ongoing on-going building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser 4.10.2 his peaceful use and enjoyment of and access to the Section, the Exclusive Use Area and the Common temporarily interrupted; and Property may be
4.10.3 noise and dust pollution may be caused,
4.11 he shall have no claim whatsoever against the Developer Seller by reason of any such aforesaid inconvenience or interruptions, nor be entitled to interdict, cancel this agreement or withhold any an y payments to the DeveloperSeller, nor be entitled to a reduction of the purchase price or interest thereon, as calculated in terms of clause 6.7 below, provided that the Developer Seller shall use its best endeavours to complete all aspects of the construction of the Building and the completion Date;
4.12 he shall n without the withheld in
4.13 he is aware that he has bought a Section and Exclusive Use Areas in a Scheme and thus the registration of transfer of the development as expeditiously as is possible in said Section and Exclusive Use Areas into the circumstances;
7.10 Transfer to name of the Purchaser of the property may, in the discretion of the Developer, will be simultaneous with the transfers to other Purchasers in the scheme. Accordinglypurchasers, and he accordingly accepts and acknowledges that lodgement of the Purchaser’s transfer documents and mortgage bond docum ents at the Cape Town Deeds Office Registry, shall be entirely in the discretion of the Conveyancers Attorneys and the Purchaser’s obligation to pay occupational rent the occupation consideration as referred to in clause 9.4 below shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offered.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 1 contract
Samples: Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges that:
7.1 The Property will fall under the governance of the relevant Sectional Title Acts and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to 4.1 the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not yet been finally prepared or approved, approved and that accordingly the exact and final boundaries and areas of the property Section and the Exclusive Use Areas, will as be those shown on the Sectional Plan as finally approved Plan. The undivided share in the Common Property apportioned to the Section shall be in accordance with the Participation Quota, upon approval and registeredregistration of the Sectional Plan;
7.3 Transfer 4.2 the Building has not yet been erected or completed as the case may be;
4.3 the extent of the property Section on the Sectional Plan will be measured by the Land Surveyor in terms of the Act;
4.4 transfer of the Sectionand cession of the rights to the Exclusive Use Areas is able to take place only upon completion simultaneously with or
4.5 he has read and approved the Plans and the Specification and that he will be obliged to accept delivery of the unit Sectionand the Exclusive Use Areas:
4.5.1 completed substantially according to the Plans and exclusive use areas sold the Specification;
4.5.2 as finally depicted and delineated on the Sectional Plan;
4.6 the Plans and the Specification, insofar as they relate to the structure of the Building, including but not limited to all measurements and dimensions reflected in this agreementAgreement, simultaneously with or forthwith after may be subject to variation (“the opening variations and specifications”),:
4.6.1 as a result of the Sectional Title Register requirements of:
4.6.1.1 all authorities having jurisdiction over the construction and finishing of the Building; and
4.6.1.2 the Architect, engineer or any other member of the professional team appointed in relation to the Scheme, arising on either aesthetic, technical or construction grounds, or
4.6.2 to such extent as may be reasonably necessary, to:
4.6.2.1 comply with any special impediments such as water, sewer or electrical lines either above or underground or any rock or other soil condition;
4.6.2.2 give effect to any changes in materials, finishes or fittings which the Seller considers to be appropriate or which may not be readily available at the time due to shortage in supply of such materials, finishes or fittings, without however detracting from the quality of the Building and/or Section, but that there will be no material change to the floor plan of the Section, nor to the Specification insofar as it relates to internal finishes in the Section other than with the prior written consent of the Purchaser, which consent shall not unreasonably be withheld or under the substitution provisions of clause 11.2;
4.7 any images reflected or displayed on the Seller’s website,in any marketing brochures, pamphlets and any material, or as reflected in Annexures“E” other advertising and “G”, are for illustrative purposes only and will not be binding on the Seller;
4.8 any model of the Section or the amendment thereof.
7.4 Subject to Building made by or on behalf of the Seller and any advertisement or other terms in this agreementadvertising material used for purposes of marketing the Scheme and/or the Section not constitute a representation by the Seller, and the Purchaser shall not be entitled to claim cancellation of this agreement or rely on any reduction in information therein;
4.9 he is aware that at the purchase price by reason of any alteration to the number, size, location time of the property from that shown in opening of the Information Schedule;
7.5 It undertakes to accept Register or transfer of the property Sectioninto his name, it may not be possible to simultaneously cede the rights to the Exclusive Use Areas to him. In such an event, the cession of the rights to the Exclusive Use Areas, shall take place as may be redefined and re- numbered in soon as possible after the Sectional Plan Approved by opening of the relevant local authority Register and the Surveyor- Generaldefinition “Transfer Date” shall be interpreted accordingly;
7.6 He is aware that 4.10 on the sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts of the Sectional Title Development, subject to compliance to the regulations of the local authority with regards to land use.
7.7 The exclusive use areas shall be allocated to the Purchaser by the Developer in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, Completion Date some portions of the development Common Property and other sections in the Building may be incomplete. The Purchaser acknowledges that the Developer intends to construct the development incomplete and install all the necessary services in phases, which may take place after transfer, and that the Purchaser as a result:
4.10.1 he may suffer inconvenience from ongoing on-going building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser 4.10.2 his peaceful use and enjoyment of and access to the Section, the Exclusive Use Area and the Common temporarily interrupted; and Property may be
4.10.3 noise and dust pollution may be caused,
4.11 he shall have no claim whatsoever against the Developer Seller by reason of any such aforesaid inconvenience or interruptions, nor be entitled to interdict, cancel this agreement or withhold any payments to the DeveloperSeller, nor be entitled to a reduction of the purchase price or interest thereon, as calculated in terms of clause 6.8 below, provided that the Developer Seller shall use its best endeavours to complete all aspects of the construction of the Building and the completion of the development Scheme as expeditiously soon as is possible after the Completion Date;
4.12 he shall not dispose of the Section and/or Exclusive Use Area(s) without the prior written consent of the Seller, which consent be withheld in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the sole and unfettered discretion of the Developer, Seller until all the apartments in the Building the Seller; have been sold by
4.13 he is aware that he has bought a Section and Exclusive Use Areas in a Scheme and thus the registration of transfer of the Section and Exclusive Use Areas into the name of the Purchaser will be simultaneous with transfers the t ransfers to other Purchasers in the scheme. Accordinglypurchasers, and he accordingly accepts and acknowledges that lodgement of the Purchaser’s transfer and mortgage bond documents at the Cape Town Deeds Office Registry, shall be entirely in the discretion of the Conveyancers Attorneys and the Purchaser’s obligation to pay occupational rent the occupation consideration as referred to in clause 9.4 below shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offered.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 1 contract
Samples: Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges that:
7.1 The Property will fall under the governance of the relevant Sectional Title Acts and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to 4.1 the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not yet been finally prepared or approved, approved and that accordingly the exact and final boundaries and areas of the property Section and the Exclusive Use Areas, will as be those shown on the Sectional Plan as finally approved Plan. The undivided share in the Common Property apportioned to the Section shall be in accordance with the Participation Quota, upon approval and registeredregistration of the Sectional Plan;
7.3 Transfer 4.2 the Building has not yet been erected or completed as the case may be;
4.3 the extent of the property Section on the Sectional Plan will be measured by the Land Surveyor in terms of the Act;
4.4 transfer of the Section and cession of the rights to the Exclusive Use Areas is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Register;
4.5 he has read and approved the Plans and the Specification and that he will be obliged to accept delivery of the Section and the Exclusive Use Areas:
4.5.1 completed substantially according to the Plans and the Specification;
4.5.2 as finally depicted and delineated on the Sectional Title Register Plan;
4.6 the Plans and the Specification, insofar as they relate to the structure of the Building, including but not limited to all measurements and dimensions reflected in this Agreement, may be subject to variation (“the variations and specifications”),:
4.6.1 as a result of the requirements of:
4.6.1.1 all authorities having jurisdiction over the construction and finishing of the Building; and
4.6.1.2 the Architect, engineer or any other member of the professional team appointed in relation to the Scheme, arising on either aesthetic, technical or construction grounds, or
4.6.2 to such extent as may be reasonably necessary, to:
4.6.2.1 comply with any special impediments such as water, sewer or electrical lines either above or underground or any rock or other soil condition;
4.6.2.2 give effect to any changes in materials, finishes or fittings which the Seller considers to be appropriate or which may not be readily available at the time due to shortage in supply of such materials, finishes or fittings, without however detracting from the quality of the Building and/or Section, but that there will be no material change to the floor plan of the Section, nor to the Specification insofar as it relates to internal finishes in the Section other than with the prior written consent of the Purchaser, which consent shall not unreasonably be withheld or under the substitution provisions of clause 11.2;
4.7 any images reflected or displayed on the Seller’s website, in any marketing brochures, pamphlets and any other advertising material, or as reflected in Annexures “E” and “G”, are for illustrative purposes only and will not be binding on the Seller;
4.8 any model of the Section or the amendment thereof.
7.4 Subject to Building made by or on behalf of the Seller and any advertisement or other terms in this agreementadvertising material used for purposes of marketing the Scheme and/or the Section shall not constitute a representation by the Seller, and the Purchaser shall not be entitled to claim cancellation of this agreement or rely on any reduction in information therein;
4.9 he is aware that at the purchase price by reason of any alteration to the number, size, location time of the property from that shown in opening of the Information Schedule;
7.5 It undertakes to accept Register or transfer of the property Section into his name, it may not be possible to simultaneously cede the rights to the Exclusive Use Areas to him. In such an event, the cession of the rights to the Exclusive Use Areas, shall take place as may be redefined and re- numbered in soon as possible after the Sectional Plan Approved by opening of the relevant local authority Register and the Surveyor- Generaldefinition “Transfer Date” shall be interpreted accordingly;
7.6 He is aware that 4.10 on the sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts of the Sectional Title Development, subject to compliance to the regulations of the local authority with regards to land use.
7.7 The exclusive use areas shall be allocated to the Purchaser by the Developer in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, Completion Date some portions of the development Common Property and other sections in the Building may be incomplete. The Purchaser acknowledges that the Developer intends to construct the development incomplete and install all the necessary services in phases, which may take place after transfer, and that the Purchaser as a result:
4.10.1 he may suffer inconvenience from ongoing on-going building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser 4.10.2 his peaceful use and enjoyment of and access to the Section, the Exclusive Use Area and the Common Property may be temporarily interrupted; and
4.10.3 noise and dust pollution may be caused, from time to time, during such on-going building operations;
4.11 he shall have no claim whatsoever against the Developer Seller by reason of any such aforesaid inconvenience or interruptions, nor be entitled to interdict, cancel this agreement or withhold any payments to the DeveloperSeller, nor be entitled to a reduction of the purchase price or interest thereon, as calculated in terms of clause 6.7 below, provided that the Developer Seller shall use its best endeavours to complete all aspects of the construction of the Building and the completion of the development Scheme as expeditiously soon as is possible after the Completion Date;
4.12 he shall not dispose of the Section and/or Exclusive Use Area(s) without the prior written consent of the Seller, which consent may be withheld in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the sole and unfettered discretion of the Developer, Seller until all the apartments in the Building have been sold by the Seller;
4.13 he is aware that he has bought a Section and Exclusive Use Areas in a Scheme and thus the registration of transfer of the said Section and Exclusive Use Areas into the name of the Purchaser will be simultaneous with the transfers to other Purchasers in the scheme. Accordinglypurchasers, and he accordingly accepts and acknowledges that lodgement of the Purchaser’s transfer and mortgage bond documents at the Cape Town Deeds Office Registry, shall be entirely in the discretion of the Conveyancers Attorneys and the Purchaser’s obligation to pay occupational rent the occupation consideration as referred to in clause 9.4 below shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offered.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 1 contract
Samples: Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges that:
7.1 The Property will fall under 2.1 the governance of the relevant proposed Sectional Title Acts Scheme will not be a scheme for residential purposes only in that there will be commercial components inter alia comprising a Lifestyle Centre and the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to other retail (including café and restaurant) facilities;
2.2 the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not been finally prepared or approved, approved (save for Block A) and that accordingly the exact and final boundaries and areas of the property Section, Exclusive Use Area/s and Lifestyle Centre will as be those shown on the Sectional Plan as finally approved approved. In the event of the Exclusive Use Area/s not having been finally determined and/or defined at the date of signature hereof, it shall be determined and/or defined by the Architect whose decision shall be final and registeredbinding on the Purchaser;
7.3 Transfer 2.3 transfer of the property is able Unit and cession of the rights to the Exclusive Use Area/s shall take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Sectional Title Register or the amendment thereof.
7.4 Subject to other terms in this agreementor, the Purchaser shall not be entitled to claim cancellation approval of this agreement or any reduction in the purchase price by reason of any alteration extension to the numberSectional Plans, size, location of the property from that shown in the Information Schedulewhichever is applicable;
7.5 It undertakes to accept transfer of the property as may be redefined and re- numbered in the Sectional Plan Approved by the relevant local authority and the Surveyor- General;
7.6 He 2.4 he is aware that the Seller will allow purchasers of sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts of the Sectional Title Development, subject Scheme to compliance enjoy exclusive rights in respect of Exclusive Use Area/s relating to their units;
2.5 he has read and approved the Drawings and that he will be obliged to accept delivery of the Unit and the Exclusive Use Area/s -
2.5.1 completed substantially according to the regulations of Drawings; and
2.5.2 as finally depicted and delineated on the Sectional Plan;
2.6 the Seller intends constructing and handing over the various blocks comprising the Sectional Title Scheme in phases; and
2.7 that the private road reserve which the Seller leases from the local authority with regards (as reflected on the Context Plan) may become a public through road linking Wilderness and Claremont Relief Road, should the local authority deem it necessary to land usedo so.
7.7 The exclusive use areas shall be allocated to the Purchaser by the Developer in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, some portions of the development may be incomplete. The Purchaser acknowledges that the Developer intends to construct the development and install all the necessary services in phases, which may take place after transfer, and that the Purchaser may suffer inconvenience from ongoing building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser shall have no claim whatsoever against the Developer nor be entitled to interdict, cancel this agreement or withhold any payments to the Developer, provided that the Developer shall use its best endeavours to complete all aspects of the construction and the completion of the development as expeditiously as is possible in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the discretion of the Developer, be simultaneous with transfers to other Purchasers in the scheme. Accordingly, lodgement of the Purchaser’s transfer documents at the Deeds Office shall be entirely in the discretion of the Conveyancers and the Purchaser’s obligation to pay occupational rent shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not be in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offered.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 1 contract
Samples: Agreement of Sale
ACKNOWLEDGEMENTS BY PURCHASER. The Purchaser acknowledges thatand declares:
7.1 The Property will fall under 2.1 that the governance meanings and consequences of the relevant Sectional Title Acts and provisions of this Agreement have been satisfactorily explained to him by the Body Corporate with regards to all rules, regulations, conditions, servitudes of whatever nature pertaining to Agent;
2.2 that he is fully aware that the Sectional Title Development and agrees to be bound thereby from date of occupation;
7.2 The Plans have Plan has not been finally prepared or approvedapproved as yet, as it can only be prepared once the construction of the Building has reached such an advanced state which allows the surveyor to prepare the Sectional Plan, and that accordingly the exact and final boundaries and areas area of the property Section will be as shown indicated on the approved Sectional Plan as finally approved and registeredPlan;
7.3 Transfer of the property is able to take place only upon completion of the unit and exclusive use areas sold in this agreement, simultaneously with or forthwith after the opening of the Sectional Title Register or the amendment thereof.
7.4 Subject to other terms in this agreement, the Purchaser 2.3 that he shall not be entitled to claim cancellation of cancel this agreement Agreement or to any reduction in the purchase price Purchase Price by reason of any alteration changes to the number, size, location number of the property from that shown in Section necessary to be effected by the Information Schedule;
7.5 It surveyor during the drafting of the Sectional Plan and the Purchaser undertakes to accept transfer of the property Property as may be redefined and re- re-numbered in on the approved Sectional Plan;
2.4 that he is fully aware that the Sectional Plan Approved will be registered and the Register will be opened in the relevant deeds registry as soon as it is reasonably possible after the Completion Date and that transfer of the Property shall preferably take place simultaneously with or as soon as possible after the opening of the Register;
2.5 that the Seller is a registered home builder for the construction of the Building as contemplated in section 10 of the Housing Consumers Protection Measures Act 95 of 1998;
2.6 that the investing of any funds by the relevant local authority and the Surveyor- General;
7.6 He is aware that the sections and exclusive use areas in the scheme may be utilised for residential purposes only, unless approved by the Body Corporate and local authority for other uses. It is clearly stipulated in this agreement that the Developer reserve the right to do rentals on certain parts of the Sectional Title Development, subject to compliance to the regulations of the local authority with regards to land use.
7.7 The exclusive use areas shall be allocated to the Purchaser by the Developer Transferring Attorney in terms of this agreement and in accordance with the Acts;
7.8 On occupation date, some portions section 86(4) of the development may be incomplete. The Purchaser acknowledges that Legal Practice Act 28 of 2014 (“the Developer intends Legal Practice Act”) is subject to construct the development and install all the necessary services in phasesprovisions of section 86(5)(b) thereof, which may take place after transfer, and provides that 5% of the Purchaser may suffer inconvenience from ongoing building operations, noise, dust and other nuisance factors in this regard;
7.9 The Purchaser shall have no claim whatsoever against the Developer nor interest accrued on funds so invested must be entitled to interdict, cancel this agreement or withhold any payments paid to the Developer, provided Legal Practitioners’ Fidelity Fund; and
2.7 that he is fully aware that home owners’ and property owners’ associations (collectively hereinafter referred to as “the Developer shall use its best endeavours to complete all aspects of the construction Associations”) have properly and the completion of the development as expeditiously as is possible in the circumstances;
7.10 Transfer to the Purchaser of the property may, in the discretion of the Developer, be simultaneous with transfers to other Purchasers in the scheme. Accordingly, lodgement of the Purchaser’s transfer documents at the Deeds Office shall be entirely in the discretion of the Conveyancers and the Purchaser’s obligation to pay occupational rent shall remain and be unaffected by any delay occasioned by the above;
7.11 In the event that minor work and/or rectification still has to be done to the property, the Purchaser agrees to take transfer of the property and comply with all his obligations in terms of this agreement;
7.12 All artistic, architectural, photographic and other visual presentation material including brochures, and pamphlets, used by the Developer or its agents in marketing and selling the property have legally been prepared, distributed and shown as advertising material only, that the Developer shall not be bound thereby and the Purchaser shall have no claim constituted in respect of any information stated therein or impression conveyed thereby, that no representation is thereby made by the Developer, and that Township known as Xxxx Xxxxxxx Xxxxxxxxx 00 (“the parties shall be bound by the terms contained in this agreement only;
7.13 The Developer has at his own cost installed bulk sewerage, water and electrical reticulation required to service the property;
7.14 The Seller may be required to subdivide and/or rezone and/or consolidate any of the land Estate”) in which case the Purchaser agrees and undertakes not to object against any such subdivision and/or rezoning and/or consolidation;
7.15 Warrant that the Purchaser is not currently (and will, at least until after Transfer not Scheme will be developed as more fully set out in default of any income or other tax law obligations to SARS which will serve to delay the obtaining of transfer duty receipt or exemption certificate from SARS or cause any financial institution granting any loan finance (if applicable) to the Purchaser, to withdraw the aforesaid finance offeredclause 28 below.
7.16 The purchase price is inclusive of VAT. Should the VAT rate change at any time, the purchase price will automatically be increased accordingly.
Appears in 1 contract
Samples: Agreement of Sale
