BODY CORPORATE RULES Sample Clauses

BODY CORPORATE RULES. 11.1 It is recorded that the Seller intends, when submitting the application for the opening of the register in respect of the scheme, to register Management and Conduct Rules for the Body Corporate under section 35 of the Act in the form as is attached hereto m arked “H”, which rules inter alia provide that an amount of five percent (5%) of the contributions payable by the members to the Body Corporate in terms of section 37(1) of the Act in respect of every financial year, shall be paid to a Val de Vie Community Trust, which trust shall be an NPO Trust to be established by the developer with the sole aim of providing assistance to the disadvantaged communities in the Winelands area. 11.2 The Purchaser acknowledges that it is aware of the fact that the Body Corporate will be liable for the maintenance and upkeep of the services infrastructure, street lights and roads in the scheme.

BODY CORPORATE RULES. Initial 17.1 The Purchaser shall be bound by the Body Corporate Rules as amended by the Seller before the sectional title register has been opened and by the Body Corporate after the sectional title register was opened. The Purchaser irrevocably agrees to vote for and to support any subsequent amendments to the Body Corporate Rules requested by the Seller. Initial Initial 17.2 The Purchaser specifically agrees that the Seller may amend the Body Corporate Rules from time to time in order to allocate exclusive use rights over parking bays and garden areas. The Purchaser irrevocably undertakes to vote in favour of such amendments. 17.3 The Purchaser acknowledges having had sight of the Body Corporate Rules.

BODY CORPORATE RULES. 11 . 1 I t i s recorded that the body corporate shall be deemed to be established on the registr ation of the f i rst t ransfer in terms of section 2 of the Sectional Titles Schemes Management Act. 11 . 2 The Purchaser agrees that: 11 . 2 . 1 immediately on becoming a registered owner of the property, the Purchaser will automatically become a member of the body corporate and will be and remain bound by i ts rules for so long as the purchaser i s a registered owner; 11 . 2 . 2 should the Purchaser sell the pr operty, the Purchaser will ensure that i ts purchaser i s made fully aware of the existence of the body corporate and the fact that such successor purchaser will automatically become a member of the body corporate. 11 . 3 The Seller shall be entitled, when applying for the opening of the register, to add to and/ or amend the management rules and the conduct rules ( prescribed by regulation in t erms of the Sectional Titles Schemes Management Act) by inserting the provisions of paragraph 12 in the rules and such other r ules as the Seller in i ts sole discretion may consider appropriate provided that such rules do not materially affect the Purchaser ' s r ights in terms of this agreement of sale.

BODY CORPORATE RULES. 13.1 The Purchaser shall be bound by the Body Corporate Rules as amended by the Seller before the sectional title register has been opened and by the Body Corporate after the sectional title register was opened. The Purchaser irrevocably agrees to vote for and to support any subsequent amendments to the Body Corporate Rules requested by the Seller. 13.2 The Purchaser specifically agrees that the Seller may amend the Body Corporate Rules from time to time in order to allocate exclusive use rights over parking bays and garden areas. The Purchaser irrevocably undertakes to vote in favour of such amendments. 13.3 The Purchaser acknowledges having had sight of the Body Corporate Rules.

BODY CORPORATE RULES. 23.1 The Purchaser shall on the Transfer Date become a member of the Body Corporate and shall be bound by its Rules for so long as the purchaser is a registered owner; 23.2 The Seller intends, when applying for the opening of the scheme, to add to and/or amend the management and conduct rules prescribed by regulation in terms of the Sectional Titles Act as follows: (1) The liablility of the owner of any section to make contributions for the purpose of Section 37(1)(a) or 47(1) of the Sectional Titles Act in respect of any exclusive use area shall be allocated at a rate which shall be to no more than 1/3 of the rate per square metre per floor area payable by owners of sections in respect of their sections; (2) The Seller shall be entitled, when applying for the opening of the register, to add to and/or amend the management rules and the conduct rules (prescribed by regulation in terms of the Sectional Titles Act) as the Seller in its sole discretion may consider appropriate provided that such rules do not materially affect the Purchaser's rights in terms of this Agreement. The Purchaser acknowledges that there are Architectural Design and Landscaping Guidelines approved for the Century City Development and agrees to be bound by and adhere to the said guidelines which will be enforced by the Body Corporate and Century City POA.

BODY CORPORATE RULES. 11.1 It is recorded that the Seller intends, when submitting the application for the opening of the register in respect of the scheme, to register Management and Conduct Rules for the Body Corporate under section 35 of the Act in the form as is attached hereto m arked “H”, which rules inter alia provide that 5% of the monthly levies payable in respect of all units in the scheme to the Body Corporate in perpetuity shall be paid to a Val de Vie Community Trust Fund, which trust shall be an NPO Trust to be established by the developer with the sole aim of providing assistance to the disadvantaged communities in the Winelands area. 11.2 The Purchaser acknowledges that it is aware of the fact that the Body Corporate will be liable for the maintenance and upkeep of the services infrastructure, street lights and roads in the scheme.

BODY CORPORATE RULES. 9.1 The Body Corporate shall have as its rules the rules in a form determined in the Vendor's sole discretion having regard to the nature of the Development and if applicable desirable for the benefit of any development of land adjoining the Land by the Vendor or any associated person. 9.2 The Vendor must procure the Body Corporate to enter into an agreement for the provision of secretarial services with such party as the Vendor may nominate prior to Settlement Date.

BODY CORPORATE RULES. The draft body corporate rules are attached to the Agreement at schedule 4.

BODY CORPORATE RULES. 22.1 The Purchaser shall on the Transfer date become a member of the Body Corporate and shall be bound by its rules for so long as the purchaser is a registered owner; 22.2 The Seller intends, when applying for the opening of the scheme, to add to and/or amend the management and conduct rules prescribed by regulation in terms of the Sectional Titles Act as follows: (1) The liability of the owner of any section to make contributions for the purpose of Section 37(1)(a) or 47(1) of the Sectional Titles Act in respect of any exclusive use area shall be calculated at a rate which equates to no more than 1/3 of the rate per square metre per floor area payable by owners of sections in respect of their sections; (2) Notwithstanding the provisions of clause (1) above, the Seller shall be entitled, but not obliged, to provide in the rules for a fixed rate of levy per exclusive use area. (3) All signage in or on a section shall comply with design guidelines composed by the architect and shall be submitted to be approved by Century City Property Owners Association prior to the erection of such signage; (4) The toilet facilities at the security point at the main entrance of the Scheme may be used by the agents, contractors and employees or other parties acting on behalf of the Body Corporate of the Scheme and the Body Corporates of the Quayside and Quaynorth Sectional Titles Schemes. The upkeep, repair and maintenance of the toilet facilities shall be borne by the Body Corporate. (5) The number of trustees shall be determined from time to time by the members of the Body Corporate. (6) The owner of the restaurant is entitled to use a portion of the common property in the piazza area adjacent to the restaurant without being liable for the payment of levies in respect thereof. (7) The podium parking bays which have not been allocated / ceded to the owner of a unit as an exclusive use area (the non-exclusive podium parking bays) can be used by visitors of the restaurant and commercial units at no charge for a period of not exceeding 1.5 hours. The owners of the retail and commercial units shall be obliged to pay for the upkeep, repair and maintenance of the non-exclusive podium parking bays. (8) An air-conditioning system or geyser which is installed on a portion of the common property shall not be visible from the outside and the installation thereof shall be approved by the Developer or the Trustees.