Common use of OWNERS’ ASSOCIATION Clause in Contracts

OWNERS’ ASSOCIATION. 12.1 The FINKENSTEIN VILLAGE OWNERS ASSOCIATION shall inter alia regulate, control and manage the common interest of the owners of property within the development. 12.2 The PURCHASER hereby records and acknowledges that the PROPERTY will be subject to the authority of the Finkenstein Village Owners Association. Against transfer of the PROPERTY into his name the PURCHASER shall ipso facto become a member of the said Finkenstein Village Owners Association. By adding his signature to this agreement the PURCHASER accepts the terms and conditions of the constitution and rules of the Finkenstein Village Owners Association annexed hereto as annexure “B” the contents, force and effect of which he hereby declares himself to be fully acquainted with. 12.3 The PURCHASER irrevocably and unconditionally undertakes to enter into a notarial deed of imposition of conditions essentially in the form of and with the terms and conditions contained in Annexure “C” hereto.

OWNERS’ ASSOCIATION. 12.1 The FINKENSTEIN VILLAGE MANOR OWNERS ASSOCIATION shall inter alia regulate, control and manage the common interest of the owners of property within the development. 12.2 The PURCHASER hereby records and acknowledges that the PROPERTY will be subject to the authority of the Finkenstein Village Manor Owners Association. Against transfer of the PROPERTY into his name the PURCHASER shall ipso facto become a member of the said Finkenstein Village Manor Owners Association. By adding his signature to this agreement the PURCHASER accepts the terms and conditions of the constitution and rules of the Finkenstein Village Manor Owners Association annexed hereto as annexure “B” the contents, force and effect of which he hereby declares himself to be fully acquainted with. 12.3 The PURCHASER irrevocably and unconditionally undertakes to enter into a notarial deed of imposition of conditions essentially in the form of and with the terms and conditions contained in Annexure “C” hereto.