BUILDING MATTERS. 8.1 The Seller shall procure construction of the Lot substantially in accordance with the Disclosure Plan and Specifications and otherwise in accordance with all relevant laws. Sealing of the Plan by the Local Authority and registration by DNRM shall be deemed due compliance with this clause. 8.2 The Seller may make variations in its discretion as a result of requirements of the Local Authority, contractors, consultants and the Builder and standard building practises, including but not limited to: (a) Minor Variations in the Disclosure Plan and the Specifications. (b) the size, location or appearance of the Building or Common Property. (c) the configuration, position or layout of the Lot, and any other lots in the Scheme. (d) substitution of any of the materials, fittings, fixtures or chattels described in the Specifications provided that such other materials are of a generally similar quality. (e) any other variations, alterations or substitutions that do not materially prejudice the Buyer. (f) the size, layout, design of all other lots and Common Property on the Land. (g) changing the position and size of car parks, whether as part of the Lot or exclusive use. 8.3 The Buyer acknowledges that: (a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract with a builder will contain similar terms; (b) it is common for on site building conditions to vary from those anticipated during the design phase; (c) changes to the initial design are often required to comply with the requirements of Local Authorities and/or standard building practices; and (d) the Seller is not the builder of the Building or Scheme and such alterations are legitimate given the difficulties experienced in the construction phase. 8.4 The Buyer acknowledges that all measurements and areas on the Disclosure Plan and Specifications are estimates only and are subject to final construction and survey. 8.5 The Buyer has no right to terminate this Contract or claim compensation as a result of any Minor Defects or Minor Variation in measurements provided that the area of the Lot does not materially change, save for car parks which may be reduced in area by more than 5% provided the number of car parks is not reduced. The Buyer acknowledges that this clause is reasonably required by the Seller and has been inserted as: (a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract will contain provisions which will allow the builder make Minor Variations; (b) surveyor’s requirements may make it necessary to make such variations; (c) the survey of the Building or Scheme as it has been constructed may vary based on the different measurement fundamentals used; (d) the Seller is not the builder of the Building or the Scheme and such alterations are beyond its control; (e) the Seller’s financier will reasonably expect a certain number of unconditional contracts in order to provide funding for the construction of the Scheme; (f) the Seller does not expect to receive any compensation under any contract entered into with a builder; and (g) a variation of 5% is widely accepted as an industry standard. 8.6 The Buyer may claim compensation from the Seller if there is a variation to the Lot which results in the Buyer being materially prejudiced. 8.7 To claim compensation from the Seller under this clause, the Buyer must notify the Seller in writing of its intention to seek compensation. The Seller will have the option to terminate the contract if the Buyer notifies that it will claim compensation. 8.8 The Seller may agree to pay compensation at an amount agreed between the parties. Where an amount of compensation cannot be agreed between the parties under this clause, the amount shall be determined by a licensed quantity surveyor appointed by the Architect. 8.9 The Buyer may not withhold any part of the Balance Purchase Price on account of any matters relating to the Lot or the Building but must rely on its rights under the following Clause. The Buyer acknowledges that: (a) it is reasonably necessary to protect the legitimate interests of the Seller; (b) the Seller will be obtaining construction finance on the basis that the full Balance Purchase Price is obtained at Settlement; (c) any dispute relating to the Lot or Building is most appropriately dealt with after Settlement has occurred; and (d) it will receive the full benefit of the defects liability provisions of the Seller’s contract with the builder. 8.10 The Seller gives notice to the Buyer that at Settlement: (a) An Approved Safety Switch for General Purpose Socket Outlets will be installed in the Lot; and (b) A Compliant Smoke Alarm(s) will be installed in the Lot. 8.11 The Seller gives notice to the Buyer in accordance with section 83 of the Neighbourhood Disputes Resolution Act 2011 (QLD) that the Land is not affected by any application to, or any order made by, the Queensland Civil and Administrative Tribunal (QCAT) in relation to a tree on the Land. 8.12 The Seller may develop the Land in accordance with the Approval or at the Seller’s absolute discretion vary the development of the Land subject to obtaining the necessary variations to the Approval (if and as required) by; (a) Constructing the Scheme in accordance with the Approval consisting of 82 lots in two stages, or (b) reducing the number of lots in the scheme to 78, or any other number as approved by the Local Authority; or (c) vary the order in which the stages are to be developed; or (d) constructing flat land lots for the construction of stand-alone dwellings, townhouses or multi- unit high rise dwellings; or (e) not constructing any of the further Stages contemplated by the Approval other than Stage 1; or any combination of the above or otherwise at the Seller’s absolute discretion. 8.12 The Buyer acknowledges: (a) the number of lots in the Scheme, the number of Stages in the Scheme, the number of lots in each Stage, the Contribution and Interest Schedule Entitlements of the Lots and the Community Management Statement may be varied at the Seller’s absolute discretion as outlined in this clause 8. (b) it is considered just and equitable that the contribution schedule lot entitlements for lots be allocated and reallocated to take into account the matters referred to in clause 8.11 and the extent to which the lots have a differential impact on the costs, benefits and expenses of the Scheme. (c) The number of lots within the Scheme, any Stage and/or any Additional Scheme may vary; (d) The contribution schedule lot entitlements may be allocated and reallocated as between the lots to reflect a just and equitable balance with respect to the matters referred to in clause 8. (e) The Buyer will raise no Objection with respect to the matters raised in this clause 8 including, but not limited to, the contribution schedule lot entitlements changing providing it is just and equitable for the changes to be made.
Appears in 2 contracts
Samples: Sale Contract, Sale Contract
BUILDING MATTERS. 8.1 The Seller shall procure construction of the Lot substantially in accordance with the Disclosure Plan and Specifications and otherwise in accordance with all relevant laws. Sealing of the Plan by the Local Authority and registration by DNRM shall be deemed due compliance with this clause.
8.2 The Seller may make variations in its discretion as a result of requirements of the Local Authority, contractors, consultants and the Builder and standard building practises, including but not limited to:
(a) Minor Variations in the Disclosure Plan and the Specifications.
(b) the size, location or appearance of the Building or Common Property.
(c) the configuration, position or layout of the Lot, and any other lots in the Scheme.
(d) substitution of any of the materials, fittings, fixtures or chattels described in the Specifications provided that such other materials are of a generally similar quality.
(e) any other variations, alterations or substitutions that do not materially prejudice the Buyer.
(f) the size, layout, design of all other lots and Common Property on the Land.
(g) changing the position and size of car parks, whether as part of the Lot or exclusive use.
8.3 The Buyer acknowledges that:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract with a builder will contain similar terms;
(b) it is common for on site building conditions to vary from those anticipated during the design phase;
(c) changes to the initial design are often required to comply with the requirements of Local Authorities and/or standard building practices; and
(d) the Seller is not the builder of the Building or Scheme and such alterations are legitimate given the difficulties experienced in the construction phase.
8.4 The Buyer acknowledges that all measurements and areas on the Disclosure Plan and Specifications are estimates only and are subject to final construction and survey.
8.5 The Buyer has no right to terminate this Contract or claim compensation as a result of any Minor Defects or Minor Variation in measurements provided that the area of the Lot does not materially change, save for car parks which may be reduced in area by more than 5% provided the number of car parks is not reduced. The Buyer acknowledges that this clause is reasonably required by the Seller and has been inserted as:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract will contain provisions which will allow the builder make Minor Variations;
(b) surveyor’s requirements may make it necessary to make such variations;
(c) the survey of the Building or Scheme as it has been constructed may vary based on the different measurement fundamentals used;
(d) the Seller is not the builder of the Building or the Scheme and such alterations are beyond its control;
(e) the Seller’s financier will reasonably expect a certain number of unconditional contracts in order to provide funding for the construction of the Scheme;
(f) the Seller does not expect to receive any compensation under any contract entered into with a builder; and
(g) a variation of 5% is widely accepted as an industry standard.
8.6 The Buyer may claim compensation from the Seller if there is a variation to the Lot which results in the Buyer being materially prejudiced.
8.7 To claim compensation from the Seller under this clause, the Buyer must notify the Seller in writing of its intention to seek compensation. The Seller will have the option to terminate the contract if the Buyer notifies that it will claim compensation.
8.8 The Seller may agree to pay compensation at an amount agreed between the parties. Where an amount of compensation cannot be agreed between the parties under this clause, the amount shall be determined by a licensed quantity surveyor appointed by the ArchitectSeller.
8.9 The Buyer may not withhold any part of the Balance Purchase Price on account of any matters relating to the Lot or the Building but must rely on its rights under the following Clause. The Buyer acknowledges that:
(a) it is reasonably necessary to protect the legitimate interests of the Seller;
(b) the Seller will be obtaining construction finance on the basis that the full Balance Purchase Price is obtained at Settlement;
(c) any dispute relating to the Lot or Building is most appropriately dealt with after Settlement has occurred; and
(d) it will receive the full benefit of the defects liability provisions of the Seller’s contract with the builder.
8.10 The Seller gives notice to the Buyer that at Settlement:
(a) An Approved Safety Switch for General Purpose Socket Outlets will be installed in the Lot; and
(b) A Compliant Smoke Alarm(s) will be installed in the Lot.
8.11 The Seller gives notice to the Buyer in accordance with section 83 of the Neighbourhood Disputes Resolution Act 2011 (QLD) that the Land is not affected by any application to, or any order made by, the Queensland Civil and Administrative Tribunal (QCAT) in relation to a tree on the Land.
8.12 The Seller may develop the Land in accordance with the Approval or at the Seller’s absolute discretion vary the development of the Land subject to obtaining the necessary variations to the Approval (if and as required) by;
(a) Constructing the Scheme in accordance with the Approval consisting of 82 lots in two stages, or
(b) reducing the number of lots in the scheme to 78, or any other number as approved by the Local Authority; or
(c) vary the order in which the stages are to be developed; or
(d) constructing flat land lots for the construction of stand-alone dwellings, townhouses or multi- unit high rise dwellings; or
(e) not constructing any of the further Stages contemplated by the Approval other than Stage 1; or any combination of the above or otherwise at the Seller’s absolute discretion.
8.12 The Buyer acknowledges:
(a) the number of lots in the Scheme, the number of Stages in the Scheme, the number of lots in each Stage, the Contribution and Interest Schedule Entitlements of the Lots and the Community Management Statement may be varied at the Seller’s absolute discretion as outlined in this clause 8.
(b) it is considered just and equitable that the contribution schedule lot entitlements for lots be allocated and reallocated to take into account the matters referred to in clause 8.11 and the extent to which the lots have a differential impact on the costs, benefits and expenses of the Scheme.
(c) The number of lots within the Scheme, any Stage and/or any Additional Scheme may vary;
(d) The contribution schedule lot entitlements may be allocated and reallocated as between the lots to reflect a just and equitable balance with respect to the matters referred to in clause 8.
(e) The Buyer will raise no Objection with respect to the matters raised in this clause 8 including, but not limited to, the contribution schedule lot entitlements changing providing it is just and equitable for the changes to be made.
Appears in 1 contract
Samples: Sale Contract
BUILDING MATTERS. 8.1 The Seller shall procure construction of the Lot substantially in accordance with the Disclosure Plan and Specifications and otherwise in accordance with all relevant laws. Sealing of the Plan by the Local Authority and registration by DNRM shall be deemed due compliance with this clause.
8.2 The Buyer acknowledges and agrees that as the Lot and exclusive use area(s) (if any) are sold “off the plan”, there are likely to be discrepancies between the Lot and exclusive use area(s) (if any) as described in the Disclosure Statement and as built.
8.3 The Buyer acknowledges and agrees that the Seller has made no promises or representation that the Lot and exclusive use area(s) as built will be exactly the same as described in the Disclosure Statement.
8.4 The Seller may make variations in its discretion as a result of requirements of the Local Authority, contractors, consultants and the Builder and standard building practises, including but not limited to:
(a) Minor Variations in the Disclosure Plan and the Specifications.Plan;
(b) the size, location or appearance of the Building or Common Property.Lot;
(c) the configuration, position or layout of the Lot, and any other lots in the Scheme.;
(d) substitution of any of the materials, fittings, fixtures or chattels described in the Specifications Contract or Disclosure Statement provided that such other materials are of a generally similar quality.;
(e) any other variations, alterations or substitutions that do not materially prejudice the Buyer.;
(f) the size, layout, design of all other lots and Common Property on the Land.;
(g) changing the position and size location, position, layout, size, dimensions or numbering of car parks, whether as part of the Lot any exclusive use courtyards or exclusive useother area.
8.3 8.5 Each change or variation is to be considered separately in determining whether the change or variation is a Minor Variation. Nothing in this clause in any way limits the Seller’s rights to make changes or variations to the Scheme or the Lot.
8.6 The Buyer acknowledges that:
(a) the Seller expects to engage a builder to complete the Building reconfirmation of the Land and the Scheme and the Seller’s contract with a builder will contain similar terms;
(b) it is common for on site building conditions to vary from those anticipated during the design phase;; and
(c) changes to the initial design are often required to comply with the requirements of Local Authorities and/or standard building practices; and;
(d) the Seller is not the builder of the Building or Scheme and such alterations are legitimate given the difficulties experienced in the construction phase.
8.4 8.7 The Buyer acknowledges that all measurements and areas on the Disclosure Plan and Specifications are estimates only and are subject to final construction and survey.
8.5 8.8 The Buyer has no right to terminate this Contract or claim compensation as a result of any Minor Defects or Minor Variation in measurements provided that the area of the Lot does not materially change, save for car parks which may be reduced in area by more than 5% provided the number of car parks is not reduced. The Buyer acknowledges that this clause is reasonably required by the Seller and has been inserted as:
(a) the Seller expects to engage a builder to complete the Building construction of the Lot and the Scheme and the Seller’s contract will contain provisions which will allow the builder make Minor Variations;
(b) surveyor’s requirements may make it necessary to make such variations;
(c) the survey of the Building or Scheme as it has been constructed may vary based on the different measurement fundamentals used;
(d) the Seller is not the builder of the Building or the Scheme and such alterations are beyond its the Seller’s control;
(e) the Seller’s financier will reasonably expect a certain number of unconditional contracts in order to provide funding for the construction of the Scheme;
(f) the Seller does not expect to receive any compensation under any contract entered into with a builder; and
(g) a variation of 5% is widely accepted as an industry standard.
8.6 8.9 The Buyer may claim compensation from the Seller if there is a variation to the Lot which results in the Buyer being materially prejudicedprejudiced subject to the following.
8.7 8.10 To claim compensation from the Seller under this clause, the Buyer must notify the Seller in writing of its intention to seek compensationcompensation at least 14 days before settlement. The Seller will have the option to terminate the contract if the Buyer notifies that it will claim compensation. In this case the only remedy of the Buyer is to receive a return of any Deposit paid an interest earned.
8.8 8.11 The Seller may agree to pay compensation at an amount agreed between the parties. Where an amount of compensation cannot be agreed between the parties under this clause, the amount shall be determined by a licensed quantity surveyor appointed by the ArchitectArchitect whose decision shall be as an expert and shall be final and binding on the parties.
8.9 8.12 The Buyer may not withhold any part of the Balance Purchase Price on account of any matters relating to the Lot or the Building but must rely on its rights under the following Clauseclause. The Buyer acknowledges that:
(a) it is reasonably necessary to protect the legitimate interests of the Seller;
(b) the Seller will be obtaining construction finance on the basis that the full Balance Purchase Price is obtained at Settlement;; and
(c) any dispute relating to the Lot or Building is most appropriately dealt with after Settlement has occurred; and;
(d) it will receive the full benefit of the defects liability provisions of the Seller’s contract with the builder.
8.10 The Seller gives notice to the Buyer that at Settlement:
(a) An Approved Safety Switch for General Purpose Socket Outlets will be installed in the Lot; and
(b) A Compliant Smoke Alarm(s) will be installed in the Lot.
8.11 8.13 The Seller gives notice to the Buyer in accordance with section 83 of the Neighbourhood Disputes Resolution Act 2011 (QLD) that the Land is not affected by any application to, or any order made by, the Queensland Civil and Administrative Tribunal (QCAT) in relation to a tree on the Land.
8.12 8.14 The Seller may develop the Land in accordance with the any existing Approval or at the Seller’s absolute discretion vary the development of the Land subject to obtaining the necessary any new approvals or variations to the any existing Approval (if and as required) by;
(a) Constructing the Scheme in accordance with the Approval consisting of 82 lots in two stages, or
(b) reducing the number of lots in the scheme to 78, or any other number as approved by the Local Authority; or
(c) vary the order in which the stages are to be developed; or
(d) constructing flat land lots for the construction of stand-alone dwellings, townhouses or multi- unit high rise dwellings; or
(e) not constructing any of the further Stages contemplated by the Approval other than Stage 1; or any combination of the above or otherwise at the Seller’s absolute discretion).
8.12 The Buyer acknowledges:
(a) the number of lots in the Scheme, the number of Stages in the Scheme, the number of lots in each Stage, the Contribution and Interest Schedule Entitlements of the Lots and the Community Management Statement may be varied at the Seller’s absolute discretion as outlined in this clause 8.
(b) it is considered just and equitable that the contribution schedule lot entitlements for lots be allocated and reallocated to take into account the matters referred to in clause 8.11 and the extent to which the lots have a differential impact on the costs, benefits and expenses of the Scheme.
(c) The number of lots within the Scheme, any Stage and/or any Additional Scheme may vary;
(d) The contribution schedule lot entitlements may be allocated and reallocated as between the lots to reflect a just and equitable balance with respect to the matters referred to in clause 8.
(e) The Buyer will raise no Objection with respect to the matters raised in this clause 8 including, but not limited to, the contribution schedule lot entitlements changing providing it is just and equitable for the changes to be made.
Appears in 1 contract
Samples: Sale Contract
BUILDING MATTERS. 8.1 The Seller shall procure construction of the Lot substantially in accordance with the Disclosure Plan and Specifications and otherwise in accordance with all relevant laws. Sealing of the Plan by the Local Authority and registration by DNRM shall be deemed due compliance with this clause.
8.2 The Seller may make variations in its discretion as a result of requirements of the Local Authority, contractors, consultants and the Builder and standard building practises, including but not limited to:
(a) Minor Variations in the Disclosure Plan and the Specifications.
(b) the size, location or appearance of the Building or Common Property.
(c) the configuration, position or layout of the Lot, and any other lots in the Scheme.
(d) substitution of any of the materials, fittings, fixtures or chattels described in the Specifications provided that such other materials are of a generally similar quality.
(e) any other variations, alterations or substitutions that do not materially prejudice the Buyer.
(f) the size, layout, design of all other lots and Common Property on the Land.
(g) changing the position and size of car parks, whether as part of the Lot or exclusive use.
8.3 The Buyer acknowledges that:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract with a builder will contain similar terms;
(b) it is common for on site building conditions to vary from those anticipated during the design phase;
(c) changes to the initial design are often required to comply with the requirements of Local Authorities and/or standard building practices; and
(d) the Seller is not the builder of the Building or Scheme and such alterations are legitimate given the difficulties experienced in the construction phase.
8.4 The Buyer acknowledges that all measurements and areas on the Disclosure Plan and Specifications are estimates only and are subject to final construction and survey.
8.5 The Buyer has no right to terminate this Contract or claim compensation as a result of any Minor Defects or Minor Variation in measurements provided that the area of the Lot does not materially change, save for car parks which may be reduced in area by more than 5% provided the number of car parks is not reduced. The Buyer acknowledges that this clause is reasonably required by the Seller and has been inserted as:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract will contain provisions which will allow the builder make Minor Variations;
(b) surveyor’s requirements may make it necessary to make such variations;
(c) the survey of the Building or Scheme as it has been constructed may vary based on the different measurement fundamentals used;
(d) the Seller is not the builder of the Building or the Scheme and such alterations are beyond its control;
(e) the Seller’s financier will reasonably expect a certain number of unconditional contracts in order to provide funding for the construction of the Scheme;
(f) the Seller does not expect to receive any compensation under any contract entered into with a builder; and
(g) a variation of 5% is widely accepted as an industry standard.
8.6 The Buyer may claim compensation from the Seller if there is a variation to the Lot which results in the Buyer being materially prejudiced.
8.7 To claim compensation from the Seller under this clause, the Buyer must notify the Seller in writing of its intention to seek compensation. The Seller will have the option to terminate the contract if the Buyer notifies that it will claim compensation.
8.8 The Seller may agree to pay compensation at an amount agreed between the parties. Where an amount of compensation cannot be agreed between the parties under this clause, the amount shall be determined by a licensed quantity surveyor appointed by the Architect.
8.9 The Buyer may not withhold any part of the Balance Purchase Price on account of any matters relating to the Lot or the Building but must rely on its rights under the following Clause. The Buyer acknowledges that:
(a) it is reasonably necessary to protect the legitimate interests of the Seller;
(b) the Seller will be obtaining construction finance on the basis that the full Balance Purchase Price is obtained at Settlement;
(c) any dispute relating to the Lot or Building is most appropriately dealt with after Settlement has occurred; and
(d) it will receive the full benefit of the defects liability provisions of the Seller’s contract with the builder.
8.10 The Seller gives notice to the Buyer that at Settlement:
(a) An Approved Safety Switch for General Purpose Socket Outlets will be installed in the Lot; and
(b) A Compliant Smoke Alarm(s) will be installed in the Lot.
8.11 The Seller gives notice to the Buyer in accordance with section 83 of the Neighbourhood Disputes Resolution Act 2011 (QLD) that the Land is not affected by any application to, or any order made by, the Queensland Civil and Administrative Tribunal (QCAT) in relation to a tree on the Land.
8.12 The Seller may develop the Land in accordance with the Approval or at the Seller’s absolute discretion vary the development of the Land subject to obtaining the necessary variations to the Approval (if and as required) by;
(a) Constructing the Scheme in accordance with the Approval consisting of 82 50 lots in two stages, or
(b) reducing Adding a further stage to the number Scheme with a minimum of 9 and a maximum of 24 additional lots in for the scheme to 78stage, or any other number as approved by the Local Authority; or
(c) vary the order in which the stages are to be developed; or
(d) constructing flat land lots for the construction of stand-alone dwellings, townhouses or multi- unit high rise dwellings; or
(e) not constructing any of the further Stages contemplated by the Approval other than Stage 1; or any combination of the above or otherwise at the Seller’s absolute discretion.
8.12 The Buyer acknowledges:
(a) the number of lots in the Scheme, the number of Stages in the Scheme, the number of lots in each Stage, the Contribution and Interest Schedule Entitlements of the Lots and the Community Management Statement may be varied at the Seller’s absolute discretion as outlined in this clause 8.
(b) it is considered just and equitable that the contribution schedule lot entitlements for lots be allocated and reallocated to take into account the matters referred to in clause 8.11 and the extent to which the lots have a differential impact on the costs, benefits and expenses of the Scheme.
(c) The number of lots within the Scheme, any Stage and/or any Additional Scheme may vary;
(d) The contribution schedule lot entitlements may be allocated and reallocated as between the lots to reflect a just and equitable balance with respect to the matters referred to in clause 8.
(e) The Buyer will raise no Objection with respect to the matters raised in this clause 8 including, but not limited to, the contribution schedule lot entitlements changing providing it is just and equitable for the changes to be made.
(f) The Body Corporate will own and maintain any private internal fire main and fire hydrant(s) servicing the Scheme and be responsible for the water charges payable to the local water authority in respect of the private main and hydrant(s) and the on-going maintenance thereof in accordance with the terms of the development approval for the Scheme.
Appears in 1 contract
Samples: Sale Contract
BUILDING MATTERS. 8.1 The Seller shall procure construction of the Lot substantially in accordance with the Disclosure Plan and Specifications and otherwise in accordance with all relevant laws. Sealing of the Plan by the Local Authority and registration by DNRM shall be deemed due compliance with this clause.
8.2 The Seller may make variations in its discretion as a result of requirements of the Local Authority, contractors, consultants and the Builder and standard building practises, including but not limited to:
(a) Minor Variations in the Disclosure Plan and the Specifications.
(b) the size, location or appearance of the Building or Common Property.
(c) the configuration, position or layout of the Lot, and any other lots in the Scheme.
(d) substitution of any of the materials, fittings, fixtures or chattels described in the Specifications provided that such other materials are of a generally similar quality.
(e) any other variations, alterations or substitutions that do not materially prejudice the Buyer.
(f) the size, layout, design of all other lots and Common Property on the Land.
(g) changing the position and size of car parks, whether as part of the Lot or exclusive use.
8.3 The Buyer acknowledges that:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract with a builder will contain similar terms;
(b) it is common for on site building conditions to vary from those anticipated during the design phase;
(c) changes to the initial design are often required to comply with the requirements of Local Authorities and/or standard building practices; and
(d) the Seller is not the builder of the Building or Scheme and such alterations are legitimate given the difficulties experienced in the construction phase.
8.4 The Buyer acknowledges that all measurements and areas on the Disclosure Plan and Specifications are estimates only and are subject to final construction and survey.
8.5 The Buyer has no right to terminate this Contract or claim compensation as a result of any Minor Defects or Minor Variation in measurements provided that the area of the Lot does not materially change, save for car parks which may be reduced in area by more than 5% provided the number of car parks is not reduced. The Buyer acknowledges that this clause is reasonably required by the Seller and has been inserted as:
(a) the Seller expects to engage a builder to complete the Building and the Scheme and the Seller’s contract will contain provisions which will allow the builder make Minor Variations;
(b) surveyor’s requirements may make it necessary to make such variations;
(c) the survey of the Building or Scheme as it has been constructed may vary based on the different measurement fundamentals used;
(d) the Seller is not the builder of the Building or the Scheme and such alterations are beyond its control;
(e) the Seller’s financier will reasonably expect a certain number of unconditional contracts in order to provide funding for the construction of the Scheme;
(f) the Seller does not expect to receive any compensation under any contract entered into with a builder; and
(g) a variation of 5% is widely accepted as an industry standard.
8.6 The Buyer may claim compensation from the Seller if there is a variation to the Lot which results in the Buyer being materially prejudiced.
8.7 To claim compensation from the Seller under this clause, the Buyer must notify the Seller in writing of its intention to seek compensation. The Seller will have the option to terminate the contract if the Buyer notifies that it will claim compensation.
8.8 The Seller may agree to pay compensation at an amount agreed between the parties. Where an amount of compensation cannot be agreed between the parties under this clause, the amount shall be determined by a licensed quantity surveyor appointed by the Architect.
8.9 The Buyer may not withhold any part of the Balance Purchase Price on account of any matters relating to the Lot or the Building but must rely on its rights under the following Clause. The Buyer acknowledges that:
(a) it is reasonably necessary to protect the legitimate interests of the Seller;
(b) the Seller will be obtaining construction finance on the basis that the full Balance Purchase Price is obtained at Settlement;
(c) any dispute relating to the Lot or Building is most appropriately dealt with after Settlement has occurred; and
(d) it will receive the full benefit of the defects liability provisions of the Seller’s contract with the builder.
8.10 The Seller gives notice to the Buyer that at Settlement:
(a) An Approved Safety Switch for General Purpose Socket Outlets will be installed in the Lot; and
(b) A Compliant Smoke Alarm(s) will be installed in the Lot.
8.11 The Seller gives notice to the Buyer in accordance with section 83 of the Neighbourhood Disputes Resolution Act 2011 (QLD) that the Land is not affected by any application to, or any order made by, the Queensland Civil and Administrative Tribunal (QCAT) in relation to a tree on the Land.
8.12 The Seller may develop the Land in accordance with the Approval or at the Seller’s absolute discretion vary the development of the Land subject to obtaining the necessary variations to the Approval (if and as required) by;
(a) Constructing the Scheme in accordance with the Approval consisting of 82 lots in two stages, or
(b) reducing the number of lots in the scheme to 78, or any other number as approved by the Local Authority; or
(c) vary the order in which the stages are to be developed; or
(d) constructing flat land lots for the construction of stand-alone dwellings, townhouses or multi- unit high rise dwellings; or
(e) not constructing any of the further Stages contemplated by the Approval other than Stage 1; or any combination of the above or otherwise at the Seller’s absolute discretion.
8.12 The Buyer acknowledges:
(a) the number of lots in the Scheme, the number of Stages in the Scheme, the number of lots in each Stage, the Contribution and Interest Schedule Entitlements of the Lots and the Community Management Statement may be varied at the Seller’s absolute discretion as outlined in this clause 8.
(b) it is considered just and equitable that the contribution schedule lot entitlements for lots be allocated and reallocated to take into account the matters referred to in clause 8.11 and the extent to which the lots have a differential impact on the costs, benefits and expenses of the Scheme.
(c) The number of lots within the Scheme, any Stage and/or any Additional Scheme may vary;
(d) The contribution schedule lot entitlements may be allocated and reallocated as between the lots to reflect a just and equitable balance with respect to the matters referred to in clause 8.
(e) The Buyer will raise no Objection with respect to the matters raised in this clause 8 including, but not limited to, the contribution schedule lot entitlements changing providing it is just and equitable for the changes to be made.
Appears in 1 contract
Samples: Sale Contract
