Common use of Body Corporate Agreements Clause in Contracts

Body Corporate Agreements. (a) The Seller may procure the Body Corporate (either before or after Settlement) to enter into an agreement or deed with the Seller or another party including the following: (i) the Administration Agreement; (ii) the Caretaking Agreement and Letting Agreement; (iii) an agreement to provide services in relation to the on-supply or administration of a Utility Service; (iv) any lease, licence or other occupancy agreement relating to part of the Common Property or any body corporate asset or any lease or licence over any rooftop area of the Building; (v) an agreement with an artist or craftsperson relating to any artworks (such as a painting, sculpture, ceramic work, mosaic, light display, facade pattern, print or drawing) forming part of the Scheme including the maintenance of any such artworks; (vi) any other agreement that may be disclosed in the Disclosure Statement (including any agreement or deed referred to in any by-law of the CMS); (vii) any agreement with a Government Body required under an Approval under which the Body Corporate agrees to indemnify the Government Body in relation to any damage that may be caused to the pavement or other driving surfaces of the Scheme; (viii) any deed (including a deed under section 116 of the BCCM Act), agreement or arrangement that is desirable and necessary for the purpose of the proper functioning, operation and management of the Scheme or for the purpose of ensuring the proper functioning of the duties and powers of the Body Corporate and of the Committee; or (ix) an agreement or deed in relation to the sharing of facilities with the body corporate for an adjacent or nearby community titles scheme or with the owner of an adjacent or nearby building. (b) The Seller may procure the Body Corporate to grant leases, licences or easements over the Common Property for the benefit of the Seller or for the benefit of a lot owner or any other person, and the Seller may procure the Body Corporate to enter into leases, licences or easements for the benefit of the Scheme or any owner of a lot in the Scheme or any other person. (c) The Seller is entitled to any money paid or other benefits, entitlements or rights if the Body Corporate enters into any agreement referred to in clause 9.1(a)(ii) and the Buyer expressly consents to the Seller receiving any such money, benefits, entitlements or rights. (d) The Buyer agrees that the terms of the Body Corporate Agreements: (i) achieve a fair and reasonable balance between the interests of the parties; and (ii) are appropriate for the Scheme; and the powers to be exercised and functions to be performed by the resident caretaker, if any, are appropriate for the Scheme and do not adversely affect the Body Corporate’s ability to carry out its functions.