Common use of BODY CORPORATE Clause in Contracts

BODY CORPORATE. 14.1 The Seller must ensure that prior to Settlement the Community Management Statement recorded for the Scheme is generally substantially similar to the Community Management Statement contained in the Disclosure Statement, subject to changes allowed under this Contract. 14.2 The Seller has estimated the costs to the owner of each lot in the Scheme in respect of the administration fund levy and sinking fund levy for the first year of the operation of the Body Corporate. That estimate is set out in the proposed budget contained in the Disclosure Statement. The Seller does not warrant that the proposed budget is accurate and is not liable to the Buyer if the Body Corporate adopts a budget different from that proposed by the Seller.