HOMEOWNERS ASSOCIATION. 11.1 The HOA has been established for the benefit of, inter alia, all of owners of xxxxx in the La Vue II Precinct and to control and maintain roads, services and amenities within the La Vue II Precinct. 11.2 The Purchaser shall become a member of the HOA on Transfer. 11.3 The Purchaser shall be entitled to download copies of the Constitution from the HOA’s website or, prior to Transfer, request the Seller to furnish him with copies of the Constitution, and the Purchaser agrees to be bound thereby. 11.4 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time. 11.5 The Purchaser shall be and remain a member of the HOA for as long as he is the registered owner of the Property and– 11.5.1 undertakes to familiarise himself with the contents of the Constitution and acknowledges that he is aware of the impact it will have on him and other owners of property within the La Vue II Precinct and in particular, the Purchaser hereby confirms that he understands that the engineering services provided on the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; 11.5.2 shall comply with (and ensure that all occupants of the Property and his employees, agents, contractors and guests comply with) the provisions of the Constitution; 11.5.3 confirms that he understands that the engineering services provided in the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and 11.5.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA in accordance with its Constitution.
Appears in 2 contracts
Samples: Sale of Immovable Property Agreement, Sale of Immovable Property Agreement
HOMEOWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that it is anticipated that the Property will fall under the jurisdiction of the HOA, which shall be a new home owners association, established on the transfer of the first erf by the Seller to a third party purchaser.
11.2 The HOA has been will be established for the benefit of, inter alia, all of owners of xxxxx in the La Vue II Acres Precinct and to control and maintain roads, services and amenities within the La Vue II Acres Precinct.
11.2 11.3 The Purchaser shall become a member of the HOA on Transfer.
11.3 11.4 The Purchaser shall be entitled to download copies of the Constitution from the HOA’s website or, prior to Transfer, request the Seller to furnish him it with copies of the Constitution, and the Purchaser agrees to be bound thereby.
11.4 11.5 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time. It is specifically recorded that the Anticipated Monthly Levy will be payable from the Transfer Date, which levy may be amended from time to time by the HOA in its discretion.
11.5 11.6 The Seller records that 5% (five percent) of the levies that the Purchaser shall pay to the HOA from time to time shall be paid by the HOA to the Val de Vie Foundation, a foundation established with the sole aim of providing assistance to the disadvantaged communities in the Winelands area surrounding the Acres Precinct, and the Purchaser consents to such contribution being made to the aforesaid foundation.
11.7 The Purchaser shall be and remain a member of the HOA for as long as he it is the registered owner of the Property and–
11.5.1 11.7.1 undertakes to familiarise himself itself with the contents of the Constitution and acknowledges that he it is aware of the impact it will have on him it and other owners of property within the La Vue II Acres Precinct and in particular, the Purchaser hereby confirms that he it understands that the engineering services provided on the La Vue II Acres Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services;
11.5.2 11.7.2 shall comply with (and ensure that all occupants of the Property and his its employees, agents, contractors contractors, shareholders, directors and guests comply with) the provisions of the Constitution;
11.5.3 11.7.3 confirms that he it understands that the engineering services provided in the La Vue II Acres Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and
11.5.4 11.7.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA in accordance with its Constitution, subject to the provisions of the management agreement referred to in clause 5.1.2.
Appears in 1 contract
Samples: Sale of Immovable Property Agreement
HOMEOWNERS ASSOCIATION. 11.1 The Purchaser acknowledges that it is anticipated that the Property will fall under the jurisdiction of the HOA, which shall be a new home owners association, established on the transfer of the first erf by the Seller to a third party purchaser.
11.2 The HOA has been will be established for the benefit of, inter alia, all of owners of xxxxx in the La Vue II Acres Precinct and to control and maintain roads, services and amenities within the La Vue II Acres Precinct.
11.2 11.3 The Purchaser shall become a member of the HOA on Transfer.
11.3 11.4 The Purchaser shall be entitled to download copies of the Constitution from the HOA’s website or, prior to Transfer, request the Seller to furnish him it with copies of the Constitution, and the Purchaser agrees to be bound thereby.
11.4 11.5 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time. It is specifically recorded that the Anticipated Monthly Levy will be payable from the Transfer Date, which xxxx may be amended from time to time by the HOA in its discretion.
11.5 11.6 The Seller records that 5% (five percent) of the levies that the Purchaser shall be and remain a member of the HOA for as long as he is the registered owner of the Property and–
11.5.1 undertakes to familiarise himself with the contents of the Constitution and acknowledges that he is aware of the impact it will have on him and other owners of property within the La Vue II Precinct and in particular, the Purchaser hereby confirms that he understands that the engineering services provided on the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services;
11.5.2 shall comply with (and ensure that all occupants of the Property and his employees, agents, contractors and guests comply with) the provisions of the Constitution;
11.5.3 confirms that he understands that the engineering services provided in the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and
11.5.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA from time to time shall be paid by the HOA to the Val de Vie Foundation, a foundation established with the sole aim of providing assistance to the disadvantaged communities in accordance with its Constitutionthe Winelands area surrounding the Acres Precinct, and the Purchaser consents to such contribution being made to the aforesaid foundation.
Appears in 1 contract
Samples: Sale of Immovable Property Agreement
HOMEOWNERS ASSOCIATION. 11.1 The HOA has been established for the benefit of, inter alia, all of owners of xxxxx in the La Vue II Precinct and to control and maintain roads, services and amenities within the La Vue II Precinct.
11.2 The Purchaser shall become a member of the HOA on Transfer.
11.3 The Purchaser shall be entitled to download copies of the Constitution from the HOA’s website or, prior to Transfer, request the Seller PVI to furnish him with copies of the Constitution, and the Purchaser agrees to be bound thereby.
11.4 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time.
11.5 The Purchaser shall be and remain a member of the HOA for as long as he is the registered owner of the Property and–
11.5.1 undertakes to familiarise himself with the contents of the Constitution and acknowledges that he is aware of the impact it will have on him and other owners of property within the La Vue II Precinct and in particular, the Purchaser hereby confirms that he understands that the engineering services provided on the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services;
11.5.2 shall comply with (and ensure that all occupants of the Property and his employees, agents, contractors and guests comply with) the provisions of the Constitution;
11.5.3 confirms that he understands that the engineering services provided in the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and
11.5.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA in accordance with its Constitution.
Appears in 1 contract
Samples: Sale of Immovable Property Agreement
HOMEOWNERS ASSOCIATION. 11.1 12.1 The Purchaser acknowledges that the Property will fall under the jurisdiction of the HOA, which HOA has been established for the benefit of, inter alia, all of owners of xxxxx in the La Vue II Precinct Development and the rest of the Val de Vie 1 Estate and to control and maintain roads, services and amenities within the La Vue II Precinct.
11.2 The Purchaser shall become a member Development and the rest of the HOA on Transfer.
11.3 Val de Vie 1 Estate. The Seller has accordingly furnished the Purchaser shall be entitled to download copies with a copy of the Constitution from the HOA’s website or, prior to Transfer, request the Seller to furnish him with copies of the Constitution, and the constitution. INITIAL _
12.2 The Purchaser agrees to be bound therebyby the constitution of the HOA.
11.4 12.3 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time.
11.5 12.4 The Purchaser shall be and remain a member of the HOA for as long as he is the registered owner of the Property andand –
11.5.1 12.4.1 undertakes to familiarise himself with the contents of the Constitution and acknowledges that he is aware of the impact it will have on him and other owners of property within the La Vue II Precinct and in particular, the Purchaser hereby confirms that he understands that the engineering services provided on the La Vue II Precinct are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such servicesDevelopment;
11.5.2 12.4.2 shall comply with (and ensure that all occupants of the Property and his employees, agents, contractors and guests comply with) the provisions of the Constitution;
11.5.3 12.4.3 confirms that he understands that the engineering services provided in the La Vue II Precinct Development are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and
11.5.4 12.4.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA in accordance with its Constitution.
12.5 The Purchaser acknowledges and agrees that no Improvements may be effected by the Purchaser other than by the Contractor.
12.6 The Purchaser further acknowledges that it will have no claim for damages or loss against the Developer or the HOA, arising from whatever cause as a result of any acts or omissions of the Contractor and hereby indemnifies the Developer and the HOA against any claim from any third party arising from the construction of such Improvements.
12.7 The Seller records that 5% (five percent) of the levies that the Purchaser shall pay to the HOA from time to time shall be paid by the HOA to the Val de Vie Foundation, a foundation established with the sole aim of providing assistance to the disadvantaged communities in the Winelands area surrounding the Development, and the Purchaser consents to such contribution being made to the aforesaid foundation.
12.8 The Purchaser agrees that 1% (one percent) of the purchase price of the Property (or if there is no purchase price paid or payable, then 1% (one percent) of the fair market value of the Property) when it is on sold by the Purchaser to a third party up to a maximum of R116,480 (one hundred sixteen thousand four hundred eighty Rand) per sale transaction will be paid by the Purchaser (as seller of the Property) to the HOA as an exit levy. The aforesaid amount payable to the HOA will form part of the clearance to be obtained from the HOA in respect of registration of transfer of the Property in the name of such third party purchaser and it shall be allocated by the HOA towards its reserve levy fund and shall only be utilised by the HOA for the benefit of the home owners in the Greater Val de Vie Development. The provisions of this clause 12.8 in relation to the payment of the said amount payable to the HOA by the Purchaser shall not apply in the event of a Distressed Sale. INITIAL _
12.9 The amount payable to the HOA in terms of clause 12.8 can be adjusted annually by the HOA in accordance with the provisions of the Constitution, provided such increase shall not be more than prevailing rate of inflation in South Africa at the time of such increase. INITIAL _
12.10 The Purchaser agrees that the HOA shall be entitled to make rules with regard to the use and enjoyment of facilities forming part of the Development, including in particular and without limiting the generality of the aforegoing, with regard to –
12.10.1 the preservation of the natural environment including vegetation and flora and fauna on the land comprising the Development;
12.10.2 the maintenance and upkeep of any agricultural areas in the Development;
12.10.3 the use and allocation of private parking areas on the private open spaces for owners of property forming part of the Development, including their guests;
12.10.4 the use of recreation and entertainment areas and amenities and facilities;
12.10.5 the storage of flammable and other harmful substances;
12.10.6 the conduct of any person and the prevention of nuisance of any nature of the owner of any property forming part of the Development;
12.10.7 the introduction of traffic calming measures;
12.10.8 the introduction and maintenance of security facilities;
12.10.9 the imposition of fines and other penalties that may be payable by and enforced against members of the HOA; and
12.10.10 generally, such other matters as may be necessary for the harmonious and beneficial use and enjoyment of the Development.
12.11 The Purchaser acknowledges that it is aware that the HOA will be liable for the maintenance and upkeep of the services infrastructure, street lights and roads in the Development.
Appears in 1 contract
Samples: Sale of Immovable Property Agreement
