Common use of PHASED DEVELOPMENT Clause in Contracts

PHASED DEVELOPMENT. 16.1 The Purchaser is made aware that the Scheme is a phased development and the Property forms part of a particular phase. The Purchaser agrees that initially, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) will be a stand-alone Housing Development Scheme (as referred to in the Retired Person’s Act), on the condition that adequate health care facilities are provided to the Nominated Occupant(s). 16.2 In accordance with the phased nature of the Scheme, the Purchaser acknowledges that the Seller will be reserving a real right of extension of the Scheme as envisaged in section 25(1) of the Sectional Titles Act by the erection and completion from time to time but within a period of 5 (FIVE) years from date of opening of the Sectional Title Register, for its own account further buildings on a part of the Common Property and to divide such buildings into sections and common property and to confer the right to exclusive use over parts of such common property upon the owner or owners of one or more of such sections. In the event that the Seller’s construction activities are delayed due to government lockdown regulations or the insolvency of contractors and/or any other unforeseen circumstance(s) which are out of the control of the Seller, the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension by no more than 2 (TWO) years. 16.3 The Purchaser acknowledges this clause to constitute proper notice as is required in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 In event of such right of extension being exercised by the Seller or its successors-in-title and due to changed circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications as is referred to in section 25(2) of the Sectional Titles Act impracticable, commercially unfeasible and/or financially inefficient, then the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-title. 16.5 The Seller's contractors shall be entitled to all such access to completed phases, and sections and Common Property therein, as it may require in respect of the development of later phases, which rights of access shall include the rights to construct and lay pipelines, sewers, drains and the like and the Purchaser shall have no claim against the Seller in respect thereof, provided that the Seller shall exercise such rights so as not to cause any undue inconvenience to the Purchaser. 16.6 The Purchaser acknowledges that, although it is the intention of the Seller to complete the Scheme as soon as reasonably possible, the Scheme may be incomplete on the Transfer Date, and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion of the Scheme. The Purchaser shall not be entitled by reason of any of the foregoing to cancel, rescind or otherwise withdraw from this Agreement, to claim a reduction in the Purchase Price, nor request a delay in the Transfer Date.

PHASED DEVELOPMENT. 16.1 31.1 The Purchaser is made aware Grantor discloses that the Scheme is a phased development and the Property forms part of a particular phase. The Purchaser agrees that initially, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) there will be a stand-alone Housing Development Scheme (as referred to in the Retired Person’s Act), on the condition that adequate health care facilities are provided to the Nominated Occupant(s). 16.2 In accordance with the phased nature of the Scheme, the Purchaser acknowledges that the Seller will be reserving a real right of extension of to extend the Scheme as envisaged in section 25(1) terms of Section 25 of the Sectional Titles Act by Act, reserved in favour of the erection Developer. The Life Right Holder or Nominated Occupant acknowledges and completion agrees to the development of the Scheme in phases as provided for in terms of Section 25 of the Sectional Titles Act, as amended from time to time but within a period time. 31.2 The Life Right Holder further acknowledges and agrees that the Developer may in its sole discretion increase or decrease the number of 5 (FIVE) years Units and/or vary the layout. 31.3 The Life Right Holder agrees to allow the Developer to exercise its right to proceed with the Scheme in the manner envisaged herein and shall not be entitled to interfere with or obstruct the Developer from date constructing the further Buildings on the Land. The Life Right Holder shall not have the right of opening use of or access to, such portions of the Sectional Title Register, for its own account further buildings on a part Land which is subject to the development right of the Common Property and Developer. 31.4 The Life Right Holder undertakes to divide sign upon request by the Grantor or its authorised agent any such buildings into sections and common property and documents as may be necessary to confer enable the right Developer to exclusive use over parts of proceed with the aforesaid phased development. Should the Life Right Holder fail to or refuse to sign any such common property upon document, then the owner or owners of Life Right Holder hereby appoints the Grantor as his agent in full authority to sign the same on their behalf. 31.5 The Grantor is entitled to utilise any one or more of such sections. In the event that the Seller’s construction activities are delayed due to government lockdown regulations or the insolvency of contractors and/or any other unforeseen circumstance(s) which are out of the control of the Seller, the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension by no more than 2 (TWO) years. 16.3 The Purchaser acknowledges this clause to constitute proper notice as is required its unsold Units in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 In event of such right of extension being exercised by the Seller or its successors-in-title and due to changed circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications as is referred to in section 25(2) of the Sectional Titles Act impracticable, commercially unfeasible and/or financially inefficient, then the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-title. 16.5 The Seller's contractors shall be entitled to all such access to completed phases, and sections and Common Property therein, as it may require in respect of the development of later phases, which rights of access shall include the rights to construct and lay pipelines, sewers, drains and the like and the Purchaser shall have no claim against the Seller in respect thereof, provided that the Seller shall exercise such rights so as not to cause any undue inconvenience to the Purchaser. 16.6 The Purchaser acknowledges that, although it is the intention of the Seller to complete the Scheme as soon a sales office and/or a show property. 31.6 The Grantor shall market the Scheme in phases (as reasonably possiblethe Grantor deems fit) and the Grantor shall enjoy unrestricted rights with regard to the marketing of the Life Rights and, in particular, the Scheme may be incomplete right to erect signage on the Transfer DateLand for the purpose of marketing and to perform all activities normally associated with development and building operations. 31.7 The Developer and/or Grantor shall not be bound to proceed with the uncompleted phases of the Scheme at once, but may do so in stages. The Developer and/or Grantor shall further not be obliged to act upon its right to further develop the Scheme which shall be at the Developer’s and/or Grantor’s sole discretion, irrespective of the success of the sales and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion commercial viability of the Scheme. The Purchaser shall not be entitled by reason SIGNED AT ………………..……… on this ………. day of any ……………………….. 20………. AS WITNESSES 1. GRANTOR 2. SIGNED AT ………………..……… on this ………. day of the foregoing to cancel, rescind or otherwise withdraw from ……………………….. 20………. AS WITNESSES 1. LIFE RIGHT HOLDER 1 2. ……………………………………… SIGNED AT ………………..……… on this Agreement, to claim a reduction in the Purchase Price, nor request a delay in the Transfer Date.………. day of ……………………….. 20………. AS WITNESSES 1. LIFE RIGHT HOLDER 2 2. ……………………………………… SIGNED AT ………………..……… on this ………. day of ……………………….. 20………. AS WITNESSES 1. PURCHASER 2. Initial Here

PHASED DEVELOPMENT. 16.1 The Purchaser is made aware that the Scheme is a phased development and the Property forms part of a particular phase. The Purchaser agrees that initially, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) will be a stand-alone Housing Development Scheme (as referred to in the Retired Person’s Act), on the condition that adequate health care facilities are provided to the Nominated Occupant(s). 16.2 9.1 In accordance with the phased nature of the Scheme, the Purchaser acknowledges that the Seller will be reserving a real right of extension of the Scheme as envisaged in section 25(1) of the Sectional Titles Act by the erection and completion from time to time but within a period of 5 10 (FIVETEN) years from date of opening of the Sectional Title Register, for its own account further buildings on a part of the Common Property and to divide such buildings into sections and common property and to confer the right to exclusive use over parts of such common property upon the owner or owners of one or more of such sections. In the event that the Seller’s construction activities are delayed due to government lockdown regulations or the insolvency of contractors and/or any other unforeseen circumstance(s) which are out of the control of the Seller, the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension by no more than 2 (TWO) years. 16.3 9.2 The Purchaser acknowledges this clause to constitute proper notice as is required in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 9.3 In event of such right of extension being exercised by the Seller or its successors-in-title and due to changed changes in circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications as is referred to in section 25(2) of the Sectional Titles Act impracticable, commercially unfeasible and/or financially inefficient, then the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-title. 16.5 9.4 The Seller's contractors shall be entitled to all such access to completed phases, and sections and Common Property therein, as it may require in respect of the development of later phases, which rights of access shall include the rights to construct and lay pipelines, sewers, drains and the like and the Purchaser shall have no claim against the Seller in respect thereof, provided that the Seller shall exercise such rights so as not to cause any undue inconvenience to the Purchaser. 16.6 The Purchaser acknowledges that, although it is the intention of the Seller to complete the Scheme as soon as reasonably possible, the Scheme may be incomplete on the Transfer Date, and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion of the Scheme. The Purchaser shall not be entitled by reason of any of the foregoing to cancel, rescind or otherwise withdraw from this Agreement, to claim a reduction in the Purchase Price, nor request a delay in the Transfer Date.

PHASED DEVELOPMENT. 16.1 The Purchaser This sale is made aware that subject to the Scheme is a phased development and the Property forms part of a particular phase. The Purchaser agrees that initiallyfollowing special conditions, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) will be a stand-alone Housing Development Scheme (as referred to imposed by the SELLER in the Retired Person’s Act), on the condition that adequate health care facilities are provided to the Nominated Occupant(s). 16.2 In accordance with the phased nature terms of the Scheme, the Purchaser acknowledges that the Seller will be reserving a real right of extension of the Scheme as envisaged in section 25(1Section 11(2) of the Sectional Titles Act ACT: 16.1 The SELLER in terms of Section 25 of the ACT hereby reserves for itself the real right to extend, for its personal account, the SCHEME by the erection and completion from time to time but within a period of 5 TWENTY (FIVE20) years from date years: 16.1.1 a further building or buildings, or 16.1.2 a horizontal extension of opening an existing building, or 16.1.3 a vertical extension of the Sectional Title Register, for its own account further buildings an existing building on a part of the Common Property and common property as outlined on the FUTURE DEVELOPMENT PLANS, Annexure "D" to this AGREEMENT, to divide such building or buildings into a section or sections and common property and to confer the right to of exclusive use over parts of such common property upon the owner or owners of one or more of such sections. In the event that the Seller’s construction activities are delayed due to government lockdown regulations sections or the insolvency of contractors and/or any other unforeseen circumstance(s) which are out of section in the control of SCHEME. 16.2 The SELLER further reserves the Seller, right to “separate” the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension to extend the SCHEME by no more than 2 (TWO) yearsalienating the right to erect the various individual sections to different third parties. 16.3 The Purchaser acknowledges this clause to constitute proper notice as is required in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 In event of such right of extension being exercised by the Seller or its successors-in-title and due to changed circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications as is referred to in section 25(2) of the Sectional Titles Act impracticable, commercially unfeasible and/or financially inefficient, then the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-title. 16.5 The Seller's contractors SELLER shall be entitled to all make minor amendments to the SITE PLAN and the layout of the SCHEME, prior to opening the sectional title register of the SCHEME. 16.4 The SCHEME shall initially consist of phase 1 on Portion 29 as more fully defined in clause 1.1.24 and 2.3 which phase may in turn be developed in phases in accordance with this clause 16. 16.5 While the SELLER has at the outset filed future development plans which incorporate phase 2 on Portion 42 there shall be no obligation on the SELLER to proceed with phase 2 in which event the SELLER shall retain Portion 42 for its own purposes. To the extent that the SELLER elects to incorporate phase 2 into the SCHEME and erect a further 200/250 units on Portion 42 for its own account and incorporate same into the SCHEME, The PURCHASER hereby irrevocably agrees and consents to the incorporation of phase 2 into the SCHEME and hereby appoints the SELLER as its Attorney and Agent in rem suam to attend any meeting of the BODY CORPORATE which may be required to be held and to vote and speak at such access meeting in favour of such incorporation to completed phases, the exclusion of the PURCHASER. Once so incorporated the BODY CORPORATE shall take out and sections and Common Property therein, as it may require cede to the SELLER a Certificate of Real Right of Future Development in respect of Portion 42 in accordance with the development of later phases, which rights of access shall include the rights to construct and lay pipelines, sewers, drains and the like and the Purchaser shall have no claim against the Seller in respect thereof, provided that the Seller shall exercise such rights so as not to cause any undue inconvenience to the PurchaserFUTURE DEVELOPMENT PLANS. 16.6 The Purchaser acknowledges that, although it is the intention Portions 29 and 42 shall be tied by means of a Notarial Deed of Restraint of Free Alienation to be registered in favour of the Seller to complete the Scheme Local Authority upon incorporation as soon as reasonably possible, the Scheme may be incomplete on the Transfer Date, and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion of the Scheme. The Purchaser shall not be entitled by reason of any of the foregoing to cancel, rescind or otherwise withdraw from this Agreement, to claim a reduction set out in the Purchase Price, nor request a delay in the Transfer Dateclause 16.5.

PHASED DEVELOPMENT. 16.1 20.1 The Purchaser is made aware that the Scheme is a phased development and the Property forms part of a particular phase. The Purchaser agrees that initiallySeller hereby discloses, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) will be a standas required by Sub-alone Housing Development Scheme (as referred to in the Retired Person’s Act), on the condition that adequate health care facilities are provided to the Nominated Occupant(s). 16.2 In accordance with the phased nature of the Scheme, the Purchaser acknowledges that the Seller will be reserving a real right of extension of the Scheme as envisaged in section 25(1) of the Sectional Titles Act by the erection and completion from time to time but within a period of 5 (FIVE) years from date of opening of the Sectional Title Register, for its own account further buildings on a part of the Common Property and to divide such buildings into sections and common property and to confer the right to exclusive use over parts of such common property upon the owner or owners of one or more of such sections. In the event that the Seller’s construction activities are delayed due to government lockdown regulations or the insolvency of contractors and/or any other unforeseen circumstance(s) which are out of the control of the Seller, the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension by no more than 2 (TWO) years. 16.3 The Purchaser acknowledges this clause to constitute proper notice as is required in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 In event that the Developer shall simultaneously with registration of such right of extension being exercised by the Seller or its successors-in-title and due to changed circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications reserve a real right to extend the scheme as is referred to contemplated in section 25(2) Section 25 of the Sectional Titles Act impracticableAct. It is recorded further that the nature of the extension, commercially unfeasible and/or financially inefficientthe specifications, then finishes and material used shall at all times be at the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-successors in title. 16.5 20.2 The Purchaser (and/or Nominated Occupant(s) as far as needs be) hereby consent: 20.2.1 where applicable, to the Seller preparing and submitting in terms of the Sectional Titles Act, No. 95 of 1986 a scheme or schemes to the Local Authority in terms of the said Section for approval and upon such approval, taking all necessary steps to erect additional buildings in the Fynbos Village and thereafter applying for the registration of a Sectional Plan or Plans; 20.2.2 to the imposition by the Seller's contractors , as conditions of title, all or any of the terms of this paragraph 20. 20.2.3 The Purchaser (and/or Nominated Occupant(s) as far as needs be) agree to allow the Seller to exercise its positive and real right to proceed with the development in the manner agreed upon and shall not be entitled to all such access to completed phases, and sections and interfere with or obstruct the Seller from erecting on the Common Property thereinor any portion thereof, as it may require in respect the agreed upon buildings contemplated above, nor shall the Purchaser or Nominated Occupant(s) have the right of use of, or access to, to which he would otherwise be entitled, any portion or portions of the development of later phases, Common Property upon which rights of access shall include as the rights to construct and lay pipelines, sewers, drains agreed upon buildings are being erected until such time as the aforesaid agreed upon buildings have been completed and the like and the Purchaser shall have no claim against the Seller in respect thereof, sectional plan or plans thereof registered; provided that the Seller shall exercise such rights so as not to cause any undue inconvenience pay all rates and taxes and imposts calculated pro rata to the Purchaserarea involved, due in respect of such portion whilst this condition remains applicable. 16.6 20.2.4 The Purchaser acknowledges thatshall have no right to, although it is or in, any such buildings, of which units the intention Seller shall be the sole owner and certificates of registered sectional title shall be issued to and in the name of the Seller, who will be entitled to dispose of or otherwise deal with such units for its own exclusive benefit and account. 20.2.5 The Purchaser consents to his Participation Quota being reviewed and adjusted, as provided for in the Sectional Title Act (upon registration of the sectional plan or plans of the aforesaid additional building or buildings). 20.2.6 Neither the Purchaser nor any successor in title to the Purchaser or any other person to whom the Purchaser or his successors in title to the unit has granted any real right, shall be entitled to withhold his consent to the opening of the Sectional Title Register or Registers or the phased development, as contemplated in this Agreement of Sale. 20.2.7 The Purchaser hereby irrevocably authorises and appoints the Seller to complete sign all documents as may be necessary to enable the Scheme as soon as reasonably possibleSeller to proceed with the aforesaid phased developments and registrations. 20.2.8 Should the Purchaser fail to or refuse to sign any such document, the Scheme may be incomplete Purchaser hereby appoints the Seller as his attorney and agent in rem suam to sign the same on the Transfer Date, and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion his behalf. 20.2.9 The proceeds of the Scheme. The Purchaser sale of all the units comprising the additional buildings shall not be entitled by reason of any of for the foregoing to cancel, rescind or otherwise withdraw from this Agreement, to claim a reduction in the Purchase Price, nor request a delay in the Transfer DateSeller’s sole account.

PHASED DEVELOPMENT. 16.1 (a) In order to provide some flexibility to the “Owner”, the lands herein described may be developed in phases in accordance with Schedule “B”, notwithstanding that there are no specific phases set out in Schedule “B”. The Purchaser is made aware Parties hereto agree that the Scheme is “Works” set out in Schedule “C” and as shown on Schedule “B” are intended to meet the development needs of the Schedule “A-1” lands. (b) The “Owner” acknowledges that any deviation from the Schedule “B” drawings may require amended drawings and/or a phased development Supplementary Site Plan Agreement at the direction of the “Township”. (c) The “Township” will not be obligated to issue any building permit for new construction until the appropriate supplementary site plan agreement has been executed and registered on title and the Property forms part of a particular phase. The Purchaser agrees that initially, prior to completion of the entire Scheme, the phase in which the Property is located (along with all other completed phases, if any) will be a stand-alone Housing Development Scheme (as referred to in the Retired Person’s Act), on the condition that adequate health care facilities are appropriate security has been provided to the Nominated Occupant(s)“Township”. Appropriate postponements registered on title of any mortgages and/or encumbrances will also be required. 16.2 In accordance (d) Further, if the total development exceeds 40,000 sq. ft of retail commercial space as defined in the Water Services Agreement and the Sewage Services Agreement between the “Township” and the City of Pembroke. The “Owner” acknowledges that a Technical Services and Support Agreement will be required to be signed and registered on title with the phased nature of the Scheme, the Purchaser appropriate security. The “Owner” acknowledges that the Seller “Township” will not be obligated to issue any building permit for any subsequent expansions or conversions until the “Owner” has executed to the satisfaction of the “Township” a Technical Services and Support Agreement which shall apply to such subsequent expansion or conversion. For further clarity, the “Owner” acknowledges that if existing space at any time is converted to retail commercial space and the total development exceeds 40,000 sq. ft. of retail commercial space, the provisions of the servicing agreements with the City of Pembroke apply and a Technical Services and Support Agreement will be reserving a real right of extension of the Scheme as envisaged in section 25(1required. (e) of the Sectional Titles Act by the erection and completion from time to time but within a period of 5 (FIVE) years from date of opening of the Sectional Title Register, for its own account further buildings on a part of the Common Property and to divide such buildings into sections and common property and to confer the right to exclusive use over parts of such common property upon the owner or owners of one or more of such sections. In the event The Parties agree that the Seller’s construction activities only “Works” presently authorized pursuant to this Agreement are delayed due to government lockdown regulations or the insolvency “Works” set out in Schedule “C” and as shown on Schedule “B” of contractors and/or any other unforeseen circumstance(s) which are out of the control of the Seller, the Purchaser hereby consents to an extension of the validity of Seller’s real right of extension by no more than 2 (TWO) years. 16.3 The Purchaser acknowledges this clause to constitute proper notice as is required in terms of section 25(14) of the Sectional Titles Act and hereby consents to such extensions aforesaid being carried out. 16.4 In event of such right of extension being exercised by the Seller or its successors-in-title and due to changed circumstances making strict compliance with the Sectional Plan, Building Plans and other documentation and specifications as is referred to in section 25(2) of the Sectional Titles Act impracticable, commercially unfeasible and/or financially inefficient, then the Purchaser consents to such changes/amendments as may be necessitated due to such circumstances within the sole discretion of the Seller or its successors-in-title. 16.5 The Seller's contractors shall be entitled to all such access to completed phases, and sections and Common Property therein, as it may require in respect of the development of later phases, which rights of access shall include the rights to construct and lay pipelines, sewers, drains and the like and the Purchaser shall have no claim against the Seller in respect thereof, provided that the Seller shall exercise such rights so as not to cause any undue inconvenience to the Purchaser. 16.6 The Purchaser acknowledges that, although it is the intention of the Seller to complete the Scheme as soon as reasonably possible, the Scheme may be incomplete on the Transfer Date, and that the Purchaser may suffer inconvenience from noise, dust and other nuisance factors due to or arising from the completion of the Scheme. The Purchaser shall not be entitled by reason of any of the foregoing to cancel, rescind or otherwise withdraw from this Agreement, to claim a reduction in the Purchase Price, nor request a delay in the Transfer Date.