Common use of HOME OWNERS ASSOCIATION Clause in Contracts

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that the Estate is managed and controlled by the Homeowners’ Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreement. 11.7 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that the Estate is managed and controlled by the Homeowners’ Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be is R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 10,5% (One Zero comma Five Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreement. 11.7 The Seller Purchaser acknowledges, in developing particular, the Estate will install certain security systems, facilities and proceduresprovision in the Conduct Rules which deals with occupation of the Property, and will assign which dictates that certain villages may not be occupied, on a permanent basis (as defined in the Conduct Rules), by any persons under the age of 55 (Fifty Five) years. The within Property falls within the Village and IS / IS NOT therefore subject to the Homeowners’ Association the responsibility for maintaining and operating such systemsthis rule.

HOME OWNERS ASSOCIATION. 11.1 It is recorded that the Association will be established for the benefit of all owners of xxxxx within Voliere Estate, the main function and purpose of which is the promotion, advancement and protection of the communal interests of all owners of properties within the Voliere Estate and the acquisition and maintenance of all common areas including private roads, private open spaces and other like areas and facilities within the Development. In order to enable the Association to fulfil the function for which it has been created, the Purchaser by his signature to this Agreement hereby agrees that membership of the Association shall automatically be granted to him on registration of transfer and hereby acknowledges being bound by the provisions of the Constitution, Memorandum of Incorporation, Rules and by- laws of the Association. Accordingly, the Purchaser shall become a member of the association against transfer of the property and agrees to remain a member for as long as the Purchaser is the registered owner thereof. The Purchaser acknowledges that he shall be liable for the Estate is managed payment of levies to the Association, the estimated levy being as referred to in G of the information schedule. The Purchaser acknowledges and controlled agrees that he may not alienate or pass transfer of the property unless he obtains a Clearance Certificate from the Association (against payment of such fee as the Association may charge) that all amounts owing by the Homeowners’ Purchaser to the Association have been paid or satisfactorily secured and that the Purchaser has complied with all his obligations in terms of the Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 . The Purchaser acknowledges, by his signature on this agreement, acknowledges and agrees that he shall not be obliged entitled to becomethe consent and such Clearance Certificate as may be required for purposes of transfer unless he has complied with all such obligations as aforementioned. The Purchaser acknowledges that, and prior to remainsubmitting building plans that may be required to the relevant authorities, for the duration erection of a dwelling and/or any other structures (or for any alterations, modifications or renovations in the future) to the property, such plans shall be submitted to the Association for approval and the Purchaser shall be liable for costs incurred and fees imposed by the Association in respect of such approval. It is an express and material term of this Agreement that the Purchaser shall not be entitled in any manner to alienate his ownership property unless; the provisions as provided for in this clause 27 have been complied with; the proposed alienee has bound himself to the satisfaction of the Property, Association to become a member of the Homeowners’ Association (upon transfer of the Homeowners’ Association within property to him and that upon registration of the meaning transfer of and subject to the conditions set out property into the name of the alienee, the alienee shall automatically become a member of the Association; the alienee has acknowledged in the Homeowners’ Association’s Memorandum of Incorporation)writing being aware of, and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation agreeing to pay a monthly levy to the Homeowners’ Associationbe bound by, the amount provisions of which is to be determined, from time to time, by the directors of the Homeowners’ Association this clause 17. The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 Developer shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once register a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure title deed condition against the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, which the levy stabilisation fee property shall not be payable in respect of each individual unit allocated to transferred without the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management written consent of the Estate and the Conduct property owners’ association in terms of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreementconstitution. 11.7 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges 4.1 It is recorded that the Estate is managed The Glades Home Owners Association NPC , has been incorporated to promote the communal interest of owners and controlled by residents in the Homeowners’ AssociationEstate, which will include but not be limited to maintenance of security facilities and amenities, gate houses and security gates, access bridge, private roads and sidewalks, fencing, private open spaces, lakes, water features, landscaping, private servitudes, sewerage and pump stations, sanitary services, refuse removal, electrical facilities, water supply, purification and storm water drainage as well as all else required for the proper maintenance and functioning of the estate for communal living. 4.2 The seller shall be responsible for the costs of installation of internal engineering services to the Estate in accordance with the requirements stipulated by the local authority and shall then transfer the services to the Association who shall be responsible for the upkeep and maintenance thereof. 4.3 It is also be recorded that the registered owner Association will incorporate the Estate Rules with the intention of certain communal land protecting the lifestyle and facilities within good neighbourliness of owners and residents in the Estate. 11.2 . The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, may change these rules from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 4.4 The levy referred purchaser undertakes to in clause 11.2 shall not cover any rates and taxes, acquaint himself /herself /itself with the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies contents of the Memorandum of Incorporation and Articles of the Homeowners’ Association 4.5 The purchaser agrees, acknowledges and binds himself that: 4.5.1 He shall immediately on becoming the Conduct Rules, registered owner of the Architectural Guidelines property he will automatically become a member of the Association and Landscaping Guidelines were will be bound by the Memorandum and Articles of Association of the Association; 4.5.2 for as long as he is the registered owner of the property he will remain a member of the association and be bound by its Memorandum and Articles Association; 4.5.3 should he sell the property he will ensure that his purchaser is made available to him fully aware of the Association; 4.5.4 prior to his signing transfer he will not be entitled to sell, donate, grant an option or pre-emptive right in respect of, alienate or transfer, or in any way deal with the property without the prior written consent of the Association which shall not be unreasonably withheld; 4.5.5 the following provisions are to be inserted in the title deed of the property in this agreementform or in such form as may be determined by the Registrar of Deeds, and are imposed as conditions in favour of the Association: 4.5.5.1 the owner of the erf, or of any subdivision thereof, or of any sectional title unit erected thereon or of any interest therein shall not be entitled to transfer the erf, or any subdivision thereof, or any unit, or any interest therein, without the prior written confirmation of the association that all amounts due to the Association by the owner have been paid. 11.7 The Seller in developing 4.5.5.2 every owner of the Estate will install certain security systemserf, facilities or of any subdivision thereof, or of any sectional title unit erected thereon, or of any interest therein, shall automatically become and proceduresshall remain a member of the Association and be subject to its Memorandum and Articles of Association until he ceases to be an owner as aforesaid. Neither the erf nor any subdivision thereof, and will assign nor any unit erected thereon, nor any interest therein, shall be transferred to any person who has not bound himself to the Homeowners’ satisfaction of such Association to become a member thereof; 4.5.5.3 no improvement of any nature may be effected to the responsibility for maintaining erf without the prior written approval of the Association and operating such systemsany building plans in respect of any improvements to be erected on the erf shall be subject to the prior written approval of the Association; 4.5.5.4 the owner of the erf shall not alter the access to the erf without the prior written consent of the Association.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges 4.1 It is recorded that the Estate is managed The Glades Home Owners Association NPC , has been incorporated to promote the communal interest of owners and controlled by residents in the Homeowners’ AssociationEstate, which will include but not be limited to maintenance of security facilities and amenities, gate houses and security gates, access bridge, private roads and sidewalks, fencing, private open spaces, lakes, water features, landscaping, private servitudes, sewerage and pump stations, sanitary services, refuse removal, electrical facilities, water supply, purification and storm water drainage as well as all else required for the proper maintenance and functioning of the estate for communal living. 4.2 The Seller shall be responsible for the costs of installation of internal engineering services to the Estate in accordance with the requirements stipulated by the local authority and shall then transfer the services to the Association who shall be responsible for the upkeep and maintenance thereof. 4.3 It is also be recorded that the registered owner Association will incorporate the Estate Rules with the intention of certain communal land protecting the lifestyle and facilities within good neighbourliness of owners and residents in the Estate. 11.2 . The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, may change these rules from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 4.4 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent undertakes to 1% (One Percent) of acquaint himself /herself /itself with the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies contents of the Memorandum of Incorporation and Articles of the Homeowners’ Association 4.5 The Purchaser agrees, acknowledges and binds himself that: 4.5.1 He shall immediately on becoming the Conduct Rules, registered owner of the Architectural Guidelines property he will automatically become a member of the Association and Landscaping Guidelines were will be bound by the Memorandum and Articles of Association of the Association; 4.5.2 for as long as he is the registered owner of the property he will remain a member of the association and be bound by its Memorandum and Articles Association; 4.5.3 should he sell the property he will ensure that his purchaser is made available to him fully aware of the Association; 4.5.4 prior to his signing transfer he will not be entitled to sell, donate, grant an option or pre-emptive right in respect of, alienate or transfer, or in any way deal with the property without the prior written consent of the Association which shall not be unreasonably withheld; 4.5.5 the following provisions are to be inserted in the title deed of the property in this agreementform or in such form as may be determined by the Registrar of Deeds, and are imposed as conditions in favour of the Association: 4.5.5.1 the owner of the erf, or of any subdivision thereof, or of any sectional title unit erected thereon or of any interest therein shall not be entitled to transfer the erf, or any subdivision thereof, or any unit, or any interest therein, without the prior written confirmation of the association that all amounts due to the Association by the owner have been paid. 11.7 The Seller in developing 4.5.5.2 every owner of the Estate will install certain security systemserf, facilities or of any subdivision thereof, or of any sectional title unit erected thereon, or of any interest therein, shall automatically become and proceduresshall remain a member of the Association and be subject to its Memorandum and Articles of Association until he ceases to be an owner as aforesaid. Neither the erf nor any subdivision thereof, and will assign nor any unit erected thereon, nor any interest therein, shall be transferred to any person who has not bound himself to the Homeowners’ satisfaction of such Association to become a member thereof; 4.5.5.3 no improvement of any nature may be effected to the responsibility for maintaining erf without the prior written approval of the Association and operating such systemsany building plans in respect of any improvements to be erected on the erf shall be subject to the prior written approval of the Association; 4.5.5.4 the owner of the erf shall not alter the access to the erf without the prior written consent of the Association.

HOME OWNERS ASSOCIATION. 11.1 27.1 It is recorded that the Association will be established for the benefit of all owners of xxxxx within Voliere Estate, the main function and purpose of which is the promotion, advancement and protection of the communal interests of all owners of properties within the Voliere Estate and the acquisition and maintenance of all common areas including private roads, private open spaces and other like areas and facilities within the Development. 27.2 In order to enable the Association to fulfil the function for which it has been created, the Purchaser by his signature to this Agreement hereby agrees that membership of the Association shall automatically be granted to him on registration of transfer and hereby acknowledges being bound by the provisions of the Constitution, Memorandum of Incorporation, Rules and by- laws of the Association. 27.3 Accordingly, the Purchaser shall become a member of the association against transfer of the property and agrees to remain a member for as long as the Purchaser is the registered owner thereof. 27.4 The Purchaser acknowledges that he shall be liable for the Estate is managed payment of levies to the Association, the estimated levy being as referred to in G of the information schedule. 27.5 The Purchaser acknowledges and controlled agrees that he may not alienate or pass transfer of the property unless he obtains a Clearance Certificate from the Association (against payment of such fee as the Association may charge) that all amounts owing by the Homeowners’ Purchaser to the Association have been paid or satisfactorily secured and that the Purchaser has complied with all his obligations in terms of the Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 . The Purchaser acknowledges, by his signature on this agreement, acknowledges and agrees that he shall not be obliged entitled to becomethe consent and such Clearance Certificate as may be required for purposes of transfer unless he has complied with all such obligations as aforementioned. 27.6 The Purchaser acknowledges that, and prior to remainsubmitting building plans that may be required to the relevant authorities, for the duration erection of a dwelling and/or any other structures (or for any alterations, modifications or renovations in the future) to the property, such plans shall be submitted to the Association for approval and the Purchaser shall be liable for costs incurred and fees imposed by the Association in respect of such approval. 27.7 It is an express and material term of this Agreement that the Purchaser shall not be entitled in any manner to alienate his ownership property unless; 27.7.1 the provisions as provided for in this clause 27 have been complied with; 27.7.2 the proposed alienee has bound himself to the satisfaction of the Property, Association to become a member of the Homeowners’ Association (upon transfer of the Homeowners’ Association within property to him and that upon registration of the meaning transfer of and subject to the conditions set out property into the name of the alienee, the alienee shall automatically become a member of the Association; 27.7.3 the alienee has acknowledged in the Homeowners’ Association’s Memorandum of Incorporation)writing being aware of, and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation agreeing to pay a monthly levy to the Homeowners’ Associationbe bound by, the amount provisions of which is to be determined, from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R this clause 17. 11.3 27.8 The levy referred to in clause 11.2 Developer shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once register a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure title deed condition against the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, which the levy stabilisation fee property shall not be payable in respect of each individual unit allocated to transferred without the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management written consent of the Estate and the Conduct property owners’ association in terms of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreementconstitution. 11.7 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that all owners of properties situate within the Estate is managed and controlled by will be obliged to become members of the Homeowners’ Association, which . 11.2 The Association will also be the registered owner of certain communal land the common property (including internal roads and facilities within the Estate. 11.2 The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporationpaths), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will shall be entitled, entitled at all times, times to impose rules regarding with regard to: 11.3.1 the management admission of all persons to the Estate; 11.3.2 the preservation of the natural environment; 11.3.3 vegetation and flora and fauna in the Estate; 11.3.4 the use and allocation of private parking areas for owners of immovable property in the estate; 11.3.5 the conduct of any persons within the Estate and the Conduct prevention of its members. In this regardnuisance of any nature to any owner of immovable property in the Estate; 11.3.6 the use of land within the Estate; 11.3.7 the use of residential houses and accompanying garages, parking bays, etc, erected upon the Purchaser acknowledges that copies Estate; 11.3.8 the imposition of fines and other penalties to be paid by members of the Memorandum Association; 11.3.9 the use and control of Incorporation of business premises within the Homeowners’ Association, Estate; and 11.3.10 generally in regard to any other matter which the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available Association from time to him prior to his signing this agreementtime considers appropriate. 11.7 11.4 The Seller Developer in developing the Estate will install certain security systems, facilities and procedures, procedures and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems. 11.5 The Purchaser acknowledges that as a member of the Association he must abide by the Memorandum of Articles of the Phezulu Homeowners’ Association and the Conduct Rules which Articles and Conduct Rules form an annexure to this Agreement. 11.6 The Purchaser acknowledges that from the date of occupation or date of registration whichever occurs first he will be liable for the payment of a monthly levy to the Association in respect of those items and amounts payable in terms of the Association’s Memorandum, Articles of Association and Rules. The amount of the levy will be determined solely by the Association and will be calculated in accordance with the formula set out in the Rules. . The Purchaser acknowledges that the Association will require a stop/debit order from the Purchaser in respect of the payment of the aforesaid levy unless the Purchaser elects to pay such levies annually in advance. 11.7 The Purchaser acknowledges that he shall be liable for payment of the amount of R5 000, 00 towards the Levy Stabilisation Fund established in terms of the Association’s Articles of Association. This amount is payable to the Conveyancers on signature hereof or upon the fulfilment of any suspensive conditions contained in the agreement, whichever occurs first. Such payment shall be placed by the Conveyancers in an interest bearing account, all interest to accrue for the benefit of the Purchaser until the date of transfer, whereupon the Conveyancers shall release the Capital Sum to the Association and all accrued interest less their usual commission to the Purchaser. 11.8 The Purchaser acknowledges that in the event of the property being sold, alienated or otherwise disposed of by him the new owner shall be obliged to pay the levy stabilisation fund contribution applicable at that time and that the new owner shall not be accepted as a member of the Association until such amount has been paid or secured to the satisfaction of the Association. 11.9 The Purchaser acknowledges that he shall be liable for payment of an amount of R1 500, 00 per annum escalating at 10% per annum, effective 28 April 2004 to the Trust for the environmental management of the conservation reserve within Phezulu Game Estate. 11.10 The Purchaser acknowledges that he shall have no right to claim a refund from the Association in respect of any monies paid to it by way of a monthly levy, special levy or contribution to the Levy Stabilisation Fund save as provided for herein.

HOME OWNERS ASSOCIATION. 11.1 7.1 The Purchaser acknowledges that the Estate is managed and controlled by the Homeowners’ Association, which Lot will also be the registered owner of certain communal land and facilities comprised within the EstateDevelopment and they are sold subject to the provisions of the Restrictive Agreement as set out Schedule C, the By-laws of the Home Owners Association which may be registered subsequent to the Completion Date and to any other restrictive agreements or overriding interests that may affect the Lot or the Association Property of the Home Owners Association. 11.2 7.2 The Purchaser acknowledges, by his signature on this agreement, acknowledges and agrees that upon closing he shall be obliged required to become, become a Member of the Home Owners Association and to remain, for the duration of his ownership at all times while being a registered proprietor of the Property, he shall remain a member Member of the Homeowners’ Home Owners Association (the Homeowners’ Association within the meaning and abide, conform with and perform all required obligations, requirements and provisions of and subject to the conditions membership as set out in the Homeowners’ By-laws and Articles of Association’s Memorandum of Incorporation). 7.3 Prior to the Completion Date, and undertakes that he and all persons deriving use the Vendor shall deliver to the Purchaser a copy of the Estate or any part thereof through him will, from Home Owners Association By-Laws. 7.4 The Purchaser further acknowledges that the date Home Owners Association may not be created and the Bylaws not registered until such time as three Lots of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy Development have been sold and title to the Homeowners’ Association, said first three lots (or such further requisite number of Lots as may be required herein) has transferred to the amount new proprietors. The Purchaser acknowledges and agrees that should he be the purchaser of which is to be determined, from time to time, by the directors one of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance first three lots of the improvements on Development, he shall in concert with the properties. The said expenses shall be for the account two other purchasers of the purchaser. 11.4 The parties record that no Homeowners’ Association leviesfirst three lots, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the become first Directors of the Homeowners’ Home Owners Association may determine from time and file Articles of Association with the Registrar of Companies and thereafter cause registration the Home Owners Association By-laws against the title of the Development Lots. Should the Purchaser be obliged by this paragraph to time. In become a First Director of the event that Home Owners Association yet be legally or otherwise incapable of fulfilling this position, the property being developed to accommodate multiple units, either in terms obligation set out shall fall on the next subsequent purchaser of a sectional title development or Lot in any other matterthe Development and such subsequent Purchaser, as the levy stabilisation fee case may be, acknowledges and agrees the he shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third partybecome a First Director accordingly. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreement. 11.7 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that the Estate is managed and controlled by the Homeowners’ Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, from time to time, by the directors of the Homeowners’ Association Association. The estimated monthly levy is/will be is R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreement. 11.7 The Purchaser acknowledges, in particular, the provision in the Conduct Rules which deals with occupation of the Property, and which dictates that certain villages may not be occupied, on a permanent basis (as defined in the Conduct Rules), by any persons under the age of 55 (Fifty Five) years. The within Property falls within the Village and IS / IS NOT therefore subject to this rule. 11.8 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.

HOME OWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that the Estate is managed and controlled by the Homeowners’ Association, which will also be the registered owner of certain communal land and facilities within the Estate. 11.2 The Purchaser acknowledges, by his signature on this agreement, that he shall be obliged to become, and to remain, for the duration of his ownership of the Property, a member of the Homeowners’ Association (the Homeowners’ Association within the meaning of and subject to the conditions set out in the Homeowners’ Association’s Memorandum of Incorporation), and undertakes that he and all persons deriving use of the Estate or any part thereof through him will, from the date of occupation/transfer (whichever occurs sooner), duly comply with all the obligations imposed upon members under the Homeowners’ Association’s Memorandum of Incorporation including the obligation to pay a monthly levy to the Homeowners’ Association, the amount of which is to be determined, from time to time, by the directors of the Homeowners’ Association . The estimated monthly levy is/will be R . 11.3 The levy referred to in clause 11.2 shall not cover any rates and taxes, the consumption of water and electricity, sewerage, or the maintenance of the improvements on the properties. The said expenses shall be for the account of the purchaser. 11.4 The parties record that no Homeowners’ Association levies, as referred to in 11.2 above, will be raised on the Property prior to 31 December 2015. The Purchaser, however, acknowledges that he will still be liable for the homeowners’ insurance premium on the Property, once a dwelling has been constructed on the Property, and acknowledges further that he will endeavour to insure the property with an insurance company nominated by the Seller. 11.5 The Purchaser shall pay a once-off, non-refundable levy stabilisation fee, in an amount equivalent to 1% (One Percent) of the purchase price of the Property, to a levy stabilisation fund, which amount shall be payable by the Purchaser, to the Conveyancers, within 7 (Seven) days of written request therefore, who in turn will pay same over to the Homeowners’ Association on registration of transfer into the Purchasers name. All subsequent purchasers of any property shall be obliged to pay this amount to the fund or such amount as the Directors of the Homeowners’ Association may determine from time to time. In the event that the property being developed to accommodate multiple units, either in terms of a sectional title development or in any other matter, the levy stabilisation fee shall be payable in respect of each individual unit allocated to the Property on date of transfer thereof by the Purchaser to any third party. 11.6 The Purchaser acknowledges that the Homeowners’ Association will be entitled, at all times, to impose rules regarding the management of the Estate and the Conduct of its members. In this regard, the Purchaser acknowledges that copies of the Memorandum of Incorporation of the Homeowners’ Association, the Conduct Rules, the Architectural Guidelines and Landscaping Guidelines were made available to him prior to his signing this agreement. 11.7 The Purchaser acknowledges in particular, the provision in the Conduct Rules which deals with occupation of the Property, and which dictates that no dwelling in this village (The Arboretum) may be occupied, on a permanent basis (as defined in the Conduct Rules), by any persons under the age of 55 (Fifty Five) years. 11.8 The Seller in developing the Estate will install certain security systems, facilities and procedures, and will assign to the Homeowners’ Association the responsibility for maintaining and operating such systems.