Outgoings and Insurance. The Tenant must:
4.2.1 pay direct to the relevant authority (as and when they fall due for payment) or reimburse the Landlord (within 7 days of demand) the Tenant's Proportion of all Outgoings; and
4.2.2 if required by the Landlord, pay or reimburse the Landlord upon demand for all insurance premiums and other charges and excesses in connection with public risk insurance policies taken out by the Landlord for the amounts which the Landlord reasonably thinks are appropriate in connection with the Premises and this lease; and
4.2.3 if required by the Landlord, pay or reimburse the Landlord upon demand for all insurance premiums and other charges and excesses in connection with building insurance policies (if any) taken out by the Landlord for the amounts which the Landlord reasonably thinks are appropriate in connection with the Premises.
Outgoings and Insurance. 13.1 All rates and taxes and other outgoings (periodical or otherwise) including but not limited to land tax (on an actual amount payable, not single ownership, basis and calculated proportionately between the Strata Lots based on Unit Entitlement not land area where the assessment relates to the Land rather than a separate assessment for the Property) charged against or payable for the Property shall be adjusted at Settlement on the basis that they shall be paid by the Seller up to and including the day prior to the Adjustment Date from which date they shall be paid by the Buyer.
13.2 If the Settlement Date is before or on 30 June in a particular year and Settlement does not occur before 5pm on 30 June in that particular year for a reason attributable to the Buyer, the Buyer will pay to the Seller, as an adjustment to the Purchase Price:
(a) the full amount of any Land Tax assessed in respect of the Property as at midnight on 30 June for that particular year (i.e. for the following financial year); and
(b) its share of Land Tax for the previous financial year (calculated as if Settlement had occurred on the Settlement Date).
13.3 If the Seller pays any premiums in respect of any insurance required to be effected by the Strata Company, to the extent that such amount has not been reimbursed by the Strata Company to the Seller, there shall be an adjustment between the Seller and the Buyer at Settlement of that part of such premium which bears the same proportion of the total premium as the Unit Entitlement of the Property bears to the total entitlement of all Strata Lots on the basis that they shall be paid by the Seller up to and including the day prior to the Adjustment Date from which date they shall be paid by the Buyer.
13.4 The Buyer acknowledges that the Property forms part of a lot on a Strata Plan and that Strata Levies will be payable on the Property independent of whether any dwelling or other improvement may have been constructed on it. The estimated strata levies that will be payable for the Property for the first year following registration of the Strata Plan are set out in Attachment 5 of the Disclosure Statement.
