Common use of Buyer’s Acknowledgements Clause in Contracts

Buyer’s Acknowledgements. The Seller advises the Buyer and the Buyer: (i) acknowledges; and (ii) undertakes to make any subsequent Buyer of the Property aware via appropriate notifications in any sale contract for the Property: 6.1 That retaining walls and/or fences may have been erected by the Seller within the boundaries of the Property. The Buyer acknowledges that it has satisfied itself as to the location and construction of the retaining walls and/or fences and any building restrictions which may result; 6.2 That the Buyer has satisfied itself with respect to the physical characteristics of the Property, including (but not limited to) soil types, levels, slopes and vegetation and any impacts including (but not limited to) building restrictions or costs which may result; 6.3 That, in the event that the land the subject of this offer is a proposed residential lot to be created by subdivision: (a) The Seller shall use its best endeavours to complete the subdivision of the land of which the Property forms part so as to create the Property and achieve the issuance of a separate Certificate of Title to the Property; (b) The time period referred to in Clause 13.3(a)(1) of the General Conditions shall be altered to twenty four (24) months and the time period referred to in Clause 13.3(a)(2) of the General Conditions shall be altered to six (6) months; (c) The Buyer shall not at any time prior to settlement of this Contract of Sale be entitled to caveat the Property or any other property of which the Property currently forms part; (d) Notwithstanding the Settlement Date nominated in this Contract of Sale, settlement of the purchase of the Property by the Buyer cannot proceed until the Certificate of Title to the Property has issued. The Buyer acknowledges that house construction may not commence until after settlement has taken place, and agrees that the Seller will not be responsible for any additional building costs or any other costs that may result from settlement being delayed until the Certificate of Title to the Property has issued. 6.4 That the Project Manager may from time to time release details of the Buyer’s name and address to buyers of the adjoining land.

Buyer’s Acknowledgements. The Seller advises the Buyer and the Buyer: (i) acknowledges; and (ii) undertakes to make any subsequent Buyer of the Property Lot aware via appropriate notifications in any sale contract for the Property: 6.1 8.1 That retaining walls and/or fences may have been erected by the Seller within the boundaries of the Property. The Buyer will not alter or remove and fencing erected by the Seller without the Seller’s prior written permission. The Buyer acknowledges that it the Buyer has satisfied itself as to the location and construction of the retaining walls and/or fences and any building restrictions which may result;. 6.2 8.2 That the Buyer has satisfied itself with respect to the physical characteristics of the Property, including (but not limited to) soil types, levels, slopes and vegetation and any impacts including (but not limited to) building restrictions or costs which may result; 6.3 8.3 That, in the event that the land the subject of this offer is a proposed residential lot to be created by subdivision: (a) The Seller shall use its best endeavours to complete the subdivision of the land of which the Property forms part past so as to create the Property and achieve the issuance of a separate Certificate of Title to the Property; (b) The time period referred to in Clause 13.3(a)(1) of the General Conditions shall be altered to twenty four (24) months and the time period referred to in Clause 13.3(a)(2) of the General Conditions shall be altered to six (6) months; (c) The Buyer shall not at any time prior to settlement Settlement of this Contract of Sale be entitled to caveat the Property or any other property of which the Property currently forms part;; and (dc) Notwithstanding the Settlement Date nominated in this the Contract of Sale, settlement of the purchase of the Property by the Buyer cannot proceed until the Certificate of Title to the Property has had issued. The Buyer acknowledges that house construction may not commence until after settlement Settlement has taken place, and agrees that the Seller will not be responsible for any additional building costs or any other costs that may result from settlement Settlement being delayed until the Certificate of Title to the Property has issued. 6.4 8.4 That the Project Manager may from time to time release details of the Buyer’s name and address to buyers of the adjoining land. 8.5 That the proposed development of the adjoining and surround land may vary in nature in the future. Such variations ma include grouped housing site(s), strata titled development, retirement village and alternative subdivision layouts.

Buyer’s Acknowledgements. The Seller advises the Buyer understands and the Buyer: (i) acknowledges; and (ii) undertakes to make any subsequent Buyer of the Property aware via appropriate notifications in any sale contract for the Property: 6.1 That retaining walls and/or fences may have been erected by the Seller within the boundaries of the Property. The Buyer acknowledges that it has satisfied itself as to the location and construction of the retaining walls and/or fences and any building restrictions which may result; 6.2 That the Buyer has satisfied itself with respect to the physical characteristics of the Property, including (but not limited to) soil types, levels, slopes and vegetation and any impacts including (but not limited to) building restrictions or costs which may result; 6.3 That, in the event that the land the subject of this offer is a proposed residential lot to be created by subdivisionthat: (a) The Seller shall use its best endeavours to complete the subdivision of the land of which may have acquired the Property forms part so as through foreclosure, deed in lieu thereof, trustee’s sale pursuant to create the Property and achieve the issuance a power of sale under a separate Certificate deed of Title to trust, power of sale under a mortgage, sheriff’s sale or similar action; (b) Seller has never occupied the Property; (bc) The time period referred to in Clause 13.3(a)(1) Seller has little or no direct knowledge about the condition of the General Conditions shall be altered to twenty four (24) months and the time period referred to in Clause 13.3(a)(2) of the General Conditions shall be altered to six (6) months; (c) The Buyer shall not at any time prior to settlement of this Contract of Sale be entitled to caveat the Property or any other property of which the Property currently forms partProperty; (d) Notwithstanding At the Settlement Date nominated in this Contract of Saletime the Property was listed for sale, settlement Seller believed that the Property was occupied, but Seller has not made, nor does Seller make now, any representations or warranties as to whether the Property is occupied as of the purchase Effective Date or will be occupied on the Closing Date; (e) The Property may be subject to leasehold or other interests of various tenants or other occupants; (f) Because the Property was acquired by Seller through foreclosure, deed in lieu thereof, trustee’s sale pursuant to a power of sale under a deed of trust, power of sale under a mortgage, sheriff’s sale or similar action, Seller may not have any security deposits or prepaid rent to surrender to Buyer and shall not be under any obligation to do so. (g) Buyer may be subject to the Protecting Tenant’s at Foreclosure Act of 2009 set forth as Division A, Title VII of the Helping Families Save Their Homes Act of 2009 [Pub.L. 111-22, 123 Stat. 1632, S.896, enacted May 20, 2009] (the “Act”) or state law, as applicable. (h) The Property’s occupancy status shall not provide grounds for Buyer’s failure to consummate the transaction or an excuse for Buyer’s required performance pursuant to this Addendum and the Agreement; (i) Buyer is purchasing the Property “as is, where is” regardless of occupancy status, and is responsible for obtaining possession of the Property; and (j) Buyer shall not be entitled to any extension of the Closing Date as a result of the occupancy status of the Property by the nor shall Buyer cannot proceed until the Certificate of Title be entitled to the Property has issued. The Buyer acknowledges that house construction may not commence until after settlement has taken placeany concessions, and agrees that the Seller will not be responsible for any additional building costs discounts, fees or any other costs that may expenses as a result from settlement being delayed until the Certificate of Title to the Property has issued. 6.4 That the Project Manager may from time to time release details of the Buyer’s name and address to buyers occupancy status of the adjoining landProperty.

Buyer’s Acknowledgements. The Buyer acknowledges and agrees that: 16.1 to the maximum extent permitted by law, all representations and warranties implied by law in this agreement are excluded; 16.2 except as expressly provided for in this agreement, the Seller advises does not give any representations or warranties about anything including the completeness of any information provided to the Buyer about the Company, the Sale Shares or the Assets; 16.3 as at the Agreement Date, the Buyer and the Buyer:its shareholders and officers did not have knowledge of any fact, matter or circumstance which they considered (acting reasonably) may result, or give rise, to an Agreement Claim; (i) acknowledges; and (ii) undertakes to make any subsequent Buyer 16.4 it has made and has relied on its own searches, investigations and enquiries in respect of the Property aware via appropriate notifications in Company, Sale Shares, Project and Assets, including as part of its due diligence investigations, and has satisfied itself of the results of those searches, investigations and enquiries; 16.5 subject to the Warranties, it has not relied on any sale contract for the Property: 6.1 That retaining walls and/or fences may have been erected information supplied by the Seller within the boundaries or any of the Property. The Seller’s officers, representatives and agents, except to the extent that such information is expressly included in this agreement; 16.6 as part of its due diligence investigations and enquiries in respect of the Company, the Sale Shares and the Assets, it and its representatives and advisers have had access to all documents and information they have requested from the Seller; 16.7 irrespective of whether or not the Buyer’s due diligence was as full or exhaustive as the Buyer acknowledges that would have wished, it has satisfied itself as nevertheless independently and without the benefit of any inducement, representations or warranty (other than the Warranties) from the Seller determined to the location and construction of the retaining walls and/or fences and any building restrictions which may resultenter into this agreement; 6.2 That the Buyer has satisfied itself with respect to the physical characteristics of the Property, including (but not limited to) soil types, levels, slopes and vegetation and any impacts including (but not limited to) building restrictions or costs which may result; 6.3 That, in the event that the land the subject of this offer is a proposed residential lot to be created by subdivision: (a) The Seller shall use its best endeavours to complete the subdivision of the land of which the Property forms part so as to create the Property and achieve the issuance of a separate Certificate of Title to the Property; (b) The time period referred to in Clause 13.3(a)(1) of the General Conditions shall be altered to twenty four (24) months and the time period referred to in Clause 13.3(a)(2) of the General Conditions shall be altered to six (6) months; (c) The Buyer shall not at any time prior to settlement of this Contract of Sale be entitled to caveat the Property or any other property of which the Property currently forms part; (d) Notwithstanding the Settlement Date nominated in this Contract of Sale, settlement of the purchase of the Property by the Buyer cannot proceed until the Certificate of Title to the Property has issued. The Buyer acknowledges that house construction may not commence until after settlement has taken place, and agrees that 16.8 the Seller will not be responsible liable for any additional building costs Loss of, or Claim by, the Buyer, arising from or relating to any statement, representation, warranty, promise, undertaking or agreement in connection with the sale of the Sale Shares made by or on behalf of the Seller or resulting from or implied by conduct made in the course of communications or negotiations in connection with the sale of the Sale Shares not expressly set out in this agreement; 16.9 the Seller gives no representations or warranties whatsoever about future matters, including the future financial position or performance of the Company; and 16.10 any forecast, forward looking statement or other costs that may result from settlement being delayed until the Certificate of Title statement as to the Property has issued. 6.4 That the Project Manager may from time to time release details future made by or on behalf of the Buyer’s name and address to buyers Seller or resulting from or implied by conduct made in the course of communications or negotiations in connection with the sale of the adjoining landSale Shares may involve significant elements of subjective judgment and assumption as to future events which may or may not be correct, and there are usually differences between forecasts and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material.