Common use of DAMAGE DEPOSIT Clause in Contracts

DAMAGE DEPOSIT. 5.1. The CONTRACTOR shall, before commencing any work of whatever nature on the PROPERTY, pay to the Trust Account of the SPOA for the account of the CONTRACTOR an amount of R10 000,00 (TEN THOUSAND RAND) which shall constitute a security deposit for damage of whatever nature which may be caused by the CONTRACTOR to any portion of the DEVELOPMENT. 5.2. Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s in terms hereof is not limited to the amount of the deposit and the SPOA shall be entitled to recover from the OWNER and/or the CONTRACTOR, in addition to the deposit, the amount by which the reasonable costs of reinstatement exceeds the said deposit. 5.3. The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") and the amount so determined, together with the charges of the Engineers, shall be final and binding on the OWNER and the CONTRACTOR. 5.4. If the SPOA alleges that the conduct of the CONTRACTOR, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT then the OWNER and the CONTRACTOR shall be presumed to be liable therefor unless they are able to prove to the contrary. 5.5. If the OWNER / CONTRACTOR fails to dispute any claim made in terms of the aforegoing within 10 (TEN) days of dispatch of written notice thereof, they shall be liable for payment of the cost arising therefrom as determined by the Engineers in terms of the aforegoing. 5.6. If the claim is disputed, the SPOA shall be entitled to forthwith institute proceedings against the OWNER and/or the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereof. 5.7. The SPOA is irrevocably authorised to pay the amount of any claim for which the OWNER / CONTRACTOR is liable in terms of the aforegoing, by way of a deduction against the said deposit whereafter the CONTRACTOR shall forthwith pay to the SPOA the amount so paid so that the deposit is maintained at the original amount. As appears from clause 5.2, the OWNER / CONTRACTOR shall remain liable to the SPOA for payment, upon demand, of the amount (if any) by which the claim exceeds the deposit. 5.8. Upon final completion (evidenced by the issuing of an Occupation Certificate by the LOCAL AUTHORITY) of all work by the CONTRACTOR on the PROPERTY and provided there is no claim pending against the CONTRACTOR in terms of the aforegoing, the CONTRACTOR shall be entitled to receive payment of a refund of the deposit or the balance of the deposit if any portion was appropriated for payment of a claim, less administration costs. 5.9. If legal proceedings are instituted against the CONTRACTOR and/or the OWNER pursuant to the provisions of this clause 5, the SPOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) who shall be liable to the SPOA for payment of all the SPOA's legal costs incurred on the scale as between attorney and own client.

DAMAGE DEPOSIT. 5.1. 6.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever nature on the PROPERTYErf, pay deliver to HOA a deposit acceptable to the Trust Account of the SPOA HOA, for the account of the CONTRACTOR an amount of R10 000,00 (TEN THOUSAND RAND) which Ten Thousand Rand). The said deposit shall constitute be a security deposit for damage of whatever nature which that may be caused by the CONTRACTOR Building Contractor to the Development or any portion of the DEVELOPMENTthereof. The deposit shall not be placed in an interest-bearing account. 5.2. 6.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 6.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER Owner and/or the CONTRACTORBuilding Contractor, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 6.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall Building Contractor shall, if so required at the election of the HOA, be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER Owner and the CONTRACTORBuilding Contractor. 5.4. 6.4 If the SPOA HOA alleges that the conduct of the CONTRACTORBuilding Contractor, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT Development then the OWNER Owner and the CONTRACTOR Building Contractor shall be presumed deemed to be liable therefor unless they are able to prove to the contrary. 5.5. 6.5 If the OWNER Owner / CONTRACTOR Building Contractor fails to dispute any claim made in terms of the aforegoing within 10 (TENTen) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom as determined by the Engineers civil engineer in terms of the aforegoing. 5.6. If 6.6 In the event that a claim is disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or Developer’s Architect for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 6.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER Owner / CONTRACTOR Building Contractor is liable in terms of the aforegoing, by way of a deduction against the said deposit whereafter the CONTRACTOR Building Contractor shall forthwith pay to the SPOA replace the amount so paid deducted so that as to reinstate the deposit is maintained at full amount of the original amountdeposit. As appears from clause 5.26.2, the OWNER Owner / CONTRACTOR Building Contractor shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 6.8 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYJBCC Principal Building Agreement) of all work by the CONTRACTOR Building Contractor on the PROPERTY Erf, and in the event that a dwelling has been constructed, upon the completion of such dwelling as envisaged pursuant to the provisions of the HOA Constitution, and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of from the deposit or HOA the balance of the deposit if any portion was appropriated for payment of a claim, less administration costsfull amount paid as deposit. 5.9. 6.9 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 56, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) Building Contractor who shall be liable to the SPOA HOA for payment of all costs of any nature whatsoever incurred by the SPOA's HOA, including but not being limited to fees paid to professionals and other service providers, as well as legal costs incurred on the scale as between attorney and own client.

DAMAGE DEPOSIT. 5.1. 5.1 The BUILDING CONTRACTOR shall, before commencing any work of whatever whatsoever nature on the PROPERTYERF, pay to the Trust Account of the SPOA for the account of the CONTRACTOR MANAGING AGENTS an amount of R10 R20 000,00 (TEN THOUSAND RAND) Twenty thousand Rand), which will be invested in an interest bearing trust account for the benefit of the depositor. The said deposit shall constitute a security deposit for to be used to defray expenses incurred in repairing damage of whatever nature which that may be caused by the BUILDING CONTRACTOR to the DEVELOPMENT or any portion of the DEVELOPMENTthereof. 5.2. 5.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 5.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER and/or the BUILDING CONTRACTOR, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 5.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the BUILDING CONTRACTOR shall be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER and the BUILDING CONTRACTOR. 5.4. 5.4 If the SPOA HOA alleges that the conduct of the BUILDING CONTRACTOR, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT then the OWNER and the BUILDING CONTRACTOR shall be presumed deemed to be liable therefor therefore unless they are able to prove to the contrary. 5.5. 5.5 If the OWNER / OWNER/BUILDING CONTRACTOR fails to dispute any claim made in terms of the aforegoing within 10 (TEN) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom as determined by the Engineers civil engineer in terms of the aforegoing. 5.6. If 5.6 In the event of a claim is being disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or DEVELOPER’S ARCHITECT for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 5.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER / OWNER/BUILDING CONTRACTOR is liable in terms of the aforegoing, by way of a deduction against the said deposit whereafter the BUILDING CONTRACTOR shall forthwith pay such an amount to the SPOA MANAGING AGENT as may cover the full amount so paid so that of the deposit is maintained at the original amountdeposit. As appears from clause 5.2, the OWNER / OWNER/BUILDING CONTRACTOR shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 5.8 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYJBCC Principal Building Agreement) of all work by the BUILDING CONTRACTOR on the PROPERTY ERF, the OWNER must, prior to occupation, apply for a final inspection, executed by a representative of the Baronetcy Building and Architectural Review Committee (BARC). Once a completion certificate is issued by the Committee and provided there is no claim pending against the BUILDING CONTRACTOR in terms of the aforegoing, the CONTRACTOR depositor shall be entitled to receive payment of a refund of the deposit or mentioned in 5.1 above less the balance scrutiny fee of the deposit if any portion was appropriated for payment of a claim, less administration costsDEVELOPER’S ARCHITECT. 5.9. 5.9 If legal proceedings are instituted a claim is made against the BUILDING CONTRACTOR and/or the OWNER pursuant to the provisions of this clause 5, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the BUILDING CONTRACTOR and/or the OWNER (as applicable) who shall be liable to the SPOA HOA for payment of all the SPOAHOA's legal costs incurred on the scale as between attorney and own client.

DAMAGE DEPOSIT. 5.1. 6.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever nature on the PROPERTYErf, pay deliver to HOA a deposit acceptable to the Trust Account HOA, as determined by the Board of the SPOA for the account of the CONTRACTOR an amount of R10 000,00 (TEN THOUSAND RAND) which Trustees. The said deposit shall constitute be a security deposit for damage of whatever nature which that may be caused by the CONTRACTOR Building Contractor to the Development or any portion of the DEVELOPMENTthereof. The deposit shall not be placed in an interest-bearing account. 5.2. 6.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 6.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER Owner and/or the CONTRACTORBuilding Contractor, in addition to the deposit, the amount by which the reasonable costs Costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 6.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall Building Contractor shall, if so required at the election of the HOA / Building Control Contractor, be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA / Building Control Contractor and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER Owner and the CONTRACTORBuilding Contractor. 5.4. 6.4 If the SPOA HOA / Building Control Contractor alleges that the conduct of the CONTRACTORBuilding Contractor, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT Development then the OWNER Owner and the CONTRACTOR Building Contractor shall be presumed deemed to be liable therefor therefore unless they are able to prove to the contrary. 5.5. 6.5 If the OWNER Owner / CONTRACTOR Building Contractor fails to dispute any claim made in terms of the aforegoing a foregoing within 10 (TENTen) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom there from as determined by the Engineers civil engineer in terms of the aforegoinga foregoing. 5.6. If 6.6 In the event that a claim is disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or Developer’s Architect for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 6.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER Owner / CONTRACTOR Building Contractor is liable in terms of the aforegoing, a foregoing by way of a deduction against the said deposit whereafter where after the CONTRACTOR Building Contractor shall forthwith pay to the SPOA replace the amount so paid deducted so that as to reinstate the deposit is maintained at full amount of the original amountdeposit. As appears from clause 5.26.2, the OWNER Owner / CONTRACTOR Building Contractor shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 6.8 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYJBCC Principal Building Agreement) of all work by the CONTRACTOR Building Contractor on the PROPERTY Erf and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoinga foregoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of from the deposit or HOA the balance of the deposit if any portion was appropriated for payment of a claim, less administration costsfull amount paid as deposit. 5.9. 6.9 The HOA reserves the right to deduct any outstanding levies/charges of penalties from the builder’s deposit. 6.10 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 56, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) Building Contractor who shall be liable to the SPOA HOA for payment of all costs of any nature whatsoever incurred by the SPOA's HOA, including but not being limited to fees paid to professionals and other service providers, as well as legal costs incurred on the scale as between attorney and own client. 6.11 If any claim is made against the HOA or where possible the contractor was at fault such action will be taken in terms of the agreement between the HOA and the contractor.

DAMAGE DEPOSIT. 5.1. 6.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever nature on the PROPERTYErf, pay deliver to HOA a deposit acceptable to the Trust Account HOA, as determined by the Board of the SPOA for the account of the CONTRACTOR an amount of R10 000,00 (TEN THOUSAND RAND) which Trustees. The said deposit shall constitute be a security deposit for damage of whatever nature which that may be caused by the CONTRACTOR Building Contractor to the Development or any portion of the DEVELOPMENTthereof. The deposit shall not be placed in an interest-bearing account. 5.2. 6.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 6.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER Owner and/or the CONTRACTORBuilding Contractor, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 6.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall Building Contractor shall, if so required at the election of the HOA / Building Control Contractor, be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA / Building Control Contractor and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER Owner and the CONTRACTORBuilding Contractor. 5.4. 6.4 If the SPOA HOA / Building Control Contractor alleges that the conduct of the CONTRACTORBuilding Contractor, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT Development then the OWNER Owner and the CONTRACTOR Building Contractor shall be presumed deemed to be liable therefor therefore unless they are able to prove to the contrary. 5.5. 6.5 If the OWNER Owner / CONTRACTOR Building Contractor fails to dispute any claim made in terms of the aforegoing a foregoing within 10 (TENTen) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom there from as determined by the Engineers civil engineer in terms of the aforegoinga foregoing. 5.6. If 6.6 In the event that a claim is disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or HOA Architect for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 6.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER Owner / CONTRACTOR Building Contractor is liable in terms of the aforegoinga foregoing, by way of a deduction against the said deposit whereafter where after the CONTRACTOR Building Contractor shall forthwith pay to the SPOA replace the amount so paid deducted so that as to reinstate the deposit is maintained at full amount of the original amountdeposit. As appears from clause 5.26.2, the OWNER Owner / CONTRACTOR Building Contractor shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 6.8 Upon final completion (evidenced by the issuing of an Occupation Certificate by the LOCAL AUTHORITY) of all work by the CONTRACTOR Building Contractor on the PROPERTY Erf and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoinga foregoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of from the deposit or HOA the balance of the deposit if any portion was appropriated for payment of a claim, less administration costsfull amount paid as deposit. 5.9. 6.9 The HOA reserves the right to deduct any outstanding levies/charges or penalties from the builder’s deposit. 6.10 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 56, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) Building Contractor who shall be liable to the SPOA HOA for payment of all costs of any nature whatsoever incurred by the SPOA's HOA, including but not being limited to fees paid to professionals and other service providers, as well as legal costs incurred on the scale as between attorney and own client. 6.11 If any claim is made against the HOA or where possible the contractor was at fault such action will be taken in terms of the agreement between the HOA and the contractor.

DAMAGE DEPOSIT. 5.1. 4.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever whatsoever nature on the PROPERTYportion, pay to the Trust Account managing agents of the SPOA for the account of the CONTRACTOR Association an amount of R10 R20 000,00 (TEN TWENTY THOUSAND RAND) ), which will be invested in an interest bearing trust account for the benefit of the Association. The said deposit shall constitute a security deposit for be used to defray expenses incurred in repairing damage of whatever whatsoever nature which that may be caused by the CONTRACTOR Building Contractor to the Development or any portion of the DEVELOPMENT. 5.2thereof. Any However any claim arising against the OWNER and/or the CONTRACTOR by virtue Building Contractor in respect of a breach of either or both of them of any obligation/s in terms hereof is damages shall not be limited to the amount of the deposit and said deposit, but the SPOA Association shall be entitled to recover from the OWNER Building Contractor and/or the CONTRACTOROwner, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. The Association shall quantify the cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") Building Contractor and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER and Building Contractor and/or the CONTRACTOROwner. 5.4. If the SPOA alleges that the conduct of the CONTRACTOR, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT then the OWNER and the CONTRACTOR shall be presumed to be liable therefor unless they are able to prove to the contrary. 5.5. If the OWNER / CONTRACTOR fails to dispute any claim made in terms of the aforegoing within 10 (TEN) days of dispatch of written notice thereof, they shall be liable for payment of the cost arising therefrom as determined by the Engineers in terms of the aforegoing. 5.6. If the claim is disputed, the SPOA shall be entitled to forthwith institute proceedings against the OWNER and/or the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereof. 5.7. 4.2 The SPOA Association is irrevocably authorised authorized and empowered to pay deduct the amount of any claim for which the OWNER / CONTRACTOR Building Contractor and/or Owner is liable in terms of the aforegoing, by way of a deduction against the said deposit whereafter deposit. The Building Contractor and/or the CONTRACTOR shall forthwith pay to the SPOA the amount so paid so that the deposit is maintained at the original amount. As appears from clause 5.2, the OWNER / CONTRACTOR Owner shall remain liable to the SPOA Association for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 4.3 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYConstitution) of all work by the CONTRACTOR Building Contractor on the PROPERTY portion, the Owner must, prior to occupation, apply for a final inspection, executed by the Association’s Architect. Once a completion certificate is issued by the Association’s Architect and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of the deposit or mentioned in 4.1 above less the balance scrutiny fee of the deposit if any portion was appropriated for payment of a claim, less administration costsAssociation’s Architect. 5.9. 4.4 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 54, the SPOA Association shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR Building Contractor and/or the OWNER (as applicable) Owner who shall be liable to the SPOA Association for payment of all the SPOA's Association’s legal costs incurred on the scale as between attorney and own client.

DAMAGE DEPOSIT. 5.1. 6.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever nature on the PROPERTYErf, pay to the Trust Account of the SPOA HOA a deposit, for the account of the CONTRACTOR an amount of R10 000,00 to be determined by the HOA from time to time (TEN THOUSAND RAND) which See Penalties and Tariffs Document). The said deposit shall constitute be a security deposit for damage of whatever nature which that may be caused by the CONTRACTOR Building Contractor to the Estate or any portion of the DEVELOPMENTthereof. The deposit shall not be placed in an interest-bearing account. 5.2. 6.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 6.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER Owner and/or the CONTRACTORBuilding Contractor, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 6.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall Building Contractor shall, if so required at the election of the HOA, be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER Owner and the CONTRACTORBuilding Contractor. 5.4. 6.4 If the SPOA HOA alleges that the conduct of the CONTRACTORBuilding Contractor, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT Estate then the OWNER Owner and the CONTRACTOR Building Contractor shall be presumed deemed to be liable therefor therefore unless they are able to prove to the contrary. 5.5. 6.5 If the OWNER Owner / CONTRACTOR Building Contractor fails to dispute any claim made in terms of the aforegoing within 10 (TENTen) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom there from as determined by the Engineers civil engineer in terms of the aforegoing. 5.6. If 6.6 In the event that a claim is disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or Developer’s Architect for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 6.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER Owner / CONTRACTOR Building Contractor is liable in terms of the aforegoing, by way of a deduction against the said deposit whereafter where after the CONTRACTOR Building Contractor shall forthwith pay to the SPOA replace the amount so paid deducted so that as to reinstate the deposit is maintained at full amount of the original amountdeposit. As appears from per clause 5.26.2, the OWNER Owner / CONTRACTOR Building Contractor shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 6.8 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYJBCC Principal Building Agreement) of all work by the CONTRACTOR Building Contractor on the PROPERTY Erf and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoinga foregoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of from the deposit or HOA the balance of the deposit if any portion was appropriated for payment of a claim, less administration costsfull amount paid as deposit. 5.9. 6.9 The HOA reserves the right to deduct any outstanding levies/charges or penalties from the Building Contractor’s deposit. 6.10 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 56, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) Building Contractor who shall be liable to the SPOA HOA for payment of all costs of any nature whatsoever incurred by the SPOA's HOA, including but not being limited to fees paid to professionals and other service providers, as well as legal costs incurred on the scale as between attorney and own client.

DAMAGE DEPOSIT. 5.1. 6.1 The CONTRACTOR Building Contractor shall, before commencing any work of whatever nature on the PROPERTYErf, pay deliver to HOA a deposit acceptable to the Trust Account of the SPOA HOA, for the account of the CONTRACTOR an amount of R10 000,00 (TEN THOUSAND RAND) which Ten Thousand Rand). The said deposit shall constitute be a security deposit for damage of whatever nature which that may be caused by the CONTRACTOR Building Contractor to the Development or any portion of the DEVELOPMENTthereof. The deposit shall not be placed in an interest-bearing account. 5.2. 6.2 Any claim against the OWNER and/or the CONTRACTOR by virtue of a breach of either or both of them of any obligation/s arising as contemplated in terms hereof is clause 6.1 shall not be limited to the amount of the said deposit and the SPOA HOA shall be entitled to recover from the OWNER Owner and/or the CONTRACTORBuilding Contractor, in addition to the deposit, the amount by which the reasonable costs of reinstatement resulting from such damage exceeds the said deposit. 5.3. 6.3 The cost of any damage of whatsoever nature on the DEVELOPMENT attributable to the CONTRACTOR shall Building Contractor shall, if so required at the election of the HOA, be quantified by civil engineers or other competent party appointed by the SPOA (the "Engineers") HOA and the amount so determined, together with the charges of the Engineers, determined shall be final and binding on the OWNER Owner and the CONTRACTORBuilding Contractor. 5.4. 6.4 If the SPOA HOA alleges that the conduct of the CONTRACTORBuilding Contractor, whether by way of commission or omission, is the cause of any damage to any portion of the DEVELOPMENT Development then the OWNER Owner and the CONTRACTOR Building Contractor shall be presumed deemed to be liable therefor therefore unless they are able to prove to the contrary. 5.5. 6.5 If the OWNER Owner / CONTRACTOR Building Contractor fails to dispute any claim made in terms of the aforegoing a foregoing within 10 (TENTen) days of dispatch of written receiving notice thereof, they shall be liable for payment of the cost arising therefrom there from as determined by the Engineers civil engineer in terms of the aforegoinga foregoing. 5.6. If 6.6 In the event that a claim is disputed, the SPOA said dispute shall be entitled referred to forthwith institute proceedings against the OWNER and/or Developer’s Architect for resolution, which Architect shall act as an Expert and not an Arbitrator, and whose decision shall be final and binding upon the CONTRACTOR for recovery of the claim with costs, as recorded in clause 5.9 hereofparties. 5.7. 6.7 The SPOA HOA is irrevocably authorised authorized and empowered to pay appropriate, the amount of any claim for which the OWNER Owner / CONTRACTOR Building Contractor is liable in terms of the aforegoinga foregoing, by way of a deduction against the said deposit whereafter where after the CONTRACTOR Building Contractor shall forthwith pay to the SPOA replace the amount so paid deducted so that as to reinstate the deposit is maintained at full amount of the original amountdeposit. As appears from clause 5.26.2, the OWNER Owner / CONTRACTOR Building Contractor shall remain liable to the SPOA HOA for payment, upon demand, payment of the amount (if any) by which the claim exceeds the deposit. 5.8. 6.8 Upon final completion (evidenced by as defined in the issuing of an Occupation Certificate by the LOCAL AUTHORITYJBCC Principal Building Agreement) of all work by the CONTRACTOR Building Contractor on the PROPERTY Erf and provided there is no claim pending against the CONTRACTOR Building Contractor in terms of the aforegoinga foregoing, the CONTRACTOR Building Contractor shall be entitled to receive payment of a refund of from the deposit or HOA the balance of the deposit if any portion was appropriated for payment of a claim, less administration costsfull amount paid as deposit. 5.9. 6.9 The HOA reserves the right to deduct any outstanding levies/charges or penalties from the builder’s deposit. 6.10 If legal proceedings are instituted a claim is made against the CONTRACTOR and/or the OWNER Building Contractor pursuant to the provisions of this clause 56, the SPOA HOA shall, in addition to the rights aforementioned, be entitled to recover from the CONTRACTOR and/or the OWNER (as applicable) Building Contractor who shall be liable to the SPOA HOA for payment of all costs of any nature whatsoever incurred by the SPOA's HOA, including but not being limited to fees paid to professionals and other service providers, as well as legal costs incurred on the scale as between attorney and own client.