Common use of Purchaser’s Acknowledgment Clause in Contracts

Purchaser’s Acknowledgment. 9.1 The purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 the unit is sold in accordance with the sectional plan and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, and subject to any conditions of the applicable zoning, conditions of consolidation, and any conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit to the purchaser after approval and registration of the sectional plan and the opening of a sectional title register in respect of the building; 9.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Act shall apply subject to any changes and modifications allowed by the Act and as envisaged in this agreement and which the seller may deem necessary for the proper management and control of the building taking into account the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening of the sectional title register shall make rules in terms of Section 35 of the Act attaching a value of 50% to the vote of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes of managing any rental pooling arrangements as may be established in respect of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deeds. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the seller. 9.2 By his signature hereto the purchaser irrevocably and in rem suam appoints the seller as his agent and attorney to attend any meetings of the body corporate at which the purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser for the amendment of the rules.

Purchaser’s Acknowledgment. 9.1 The purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 the unit is sold seller shall, after completion of its marketing campaign in accordance respect of the scheme, commence with the development and shall, as soon as possible after construction of the building procure the approval of the sectional plan and make application to the Registrar of Deeds for the registration of the sectional plan in order to effect transfer; 9.1.2 the unit will be as reflected on the approved sectional plan and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, authority and subject to any conditions of the applicable zoning, conditions of consolidation, zoning and any all applicable conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit to the purchaser after approval and registration of the sectional plan and the opening of a sectional title register in respect of the building; 9.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register sectional title register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Management Act shall apply subject to any changes and modifications allowed under the said Act and as may be approved by the Act and Chief Ombud in accordance therewith as envisaged in this agreement and which the seller may deem necessary for the proper management and control of the building taking into account and the mixed use nature thereofscheme. It is recorded that the developer, when submitting the application for the opening of the sectional title register The conduct rules shall make rules in terms of Section 35 of the Act attaching a value of 50% to the vote of the owners of the residential section permit short term letting and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall providewill, inter alia, that an regulate access to the common property, whether by owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent occupiers and/or by third party tenants, taking practical considerations, such as security and design of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes of managing any rental pooling arrangements as may be established in respect of the scheme from time to time or, if such serviced suites / hotel management company has been formed buildings into account.; 9.2 The purchaser hereby gives and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit grants to the purchaser, in seller a format acceptable to the Registrar power of Deeds. 9.1.6 It is recorded that attorney authorising the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the seller. 9.2 By his signature hereto the purchaser irrevocably and in rem suam appoints the seller as his agent and attorney purchaser’s behalf, to attend any meetings the Inaugural General Meeting of the body corporate at which the purchaser is entitled to be present but does not attend and then and there to vote, on behalf vote for the adoption or amendment of any further management or conduct rules as the developer may deem necessary for the property management and control of the purchaser for building and the amendment of the rulesscheme.

Purchaser’s Acknowledgment. 9.1 The purchaser Purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 the unit is sold Seller shall, after completion of its marketing campaign in accordance respect of the second phase of the scheme, commence with the development and shall, as soon as possible after construction of the relevant building in that phase of the scheme, procure the approval of the sectional plan of extension and make application to the Registrar of Deeds for the registration of the sectional plan of extension in order to effect transfer; 9.1.2 the Unit shall be as reflected on the approved sectional plan of extension and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, authority and subject to any conditions of the applicable zoning, conditions of consolidation, zoning and any all applicable conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit to the purchaser after approval and registration of the sectional plan and the opening of a sectional title register in respect of the building; 9.1.3 if the areas of the common property are found not to correspond to those set out in this agreementAgreement, the seller Seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Management Act shall apply subject to any those changes and modifications allowed as have been approved by the Act and as envisaged in this agreement and Chief Ombud which the seller may deem Seller deemed necessary for the proper management and control of the building taking into account and the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening of the sectional title register shall make rules in terms of Section 35 of the Act attaching a value of 50% to the vote of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes of managing any rental pooling arrangements as may be established in respect of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deeds. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the sellerscheme. 9.2 By his signature hereto the purchaser Purchaser irrevocably and in rem suam appoints the seller Seller as his his/her agent and attorney to attend any meetings of the body corporate Body Corporate at which the purchaser Purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser for Purchaser on any matter as may be necessary pertaining to the amendment of the rulesrules or the adoption of any rules provided that the developer shall only exercise this right in circumstances where the Purchaser is not physically present or represented by a duly authorised proxy at such meetings.

Purchaser’s Acknowledgment. 9.1 The purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 the unit is sold seller shall, after completion of its marketing campaign in accordance respect of the scheme, commence with the development and shall, as soon as possible after construction of the building procure the approval of the sectional plan and make application to the Registrar of Deeds for the registration of the sectional plan in order to effect transfer; 9.1.2 the unit shall be as reflected on the approved sectional plan and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, authority and subject to any conditions of the applicable zoning, conditions of consolidation, zoning and any all applicable conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit to the purchaser after approval and registration of the sectional plan and the opening of a sectional title register in respect of the building; 9.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register sectional title register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Management Act shall apply subject to any changes and modifications allowed under the said Act and as may be approved by the Act and Chief Ombud in accordance therewith as envisaged in this agreement and which the seller may deem necessary for the proper management and control of the building taking into account and the mixed use nature thereof. It is recorded that scheme, including but not limited to rules limiting the developer, when submitting number of persons who shall be entitled to occupy a section and limiting nuisance; 9.1.5 a pre-paid electricity metering system may be installed by the application for the opening of the sectional title register shall make rules in terms of Section 35 of the Act attaching a value of 50% seller to the vote section; 9.1.6 subject to demand being exhibited by purchasers of units in the owners of the residential section and a rule in terms of which the liability of owners of residential section shallscheme, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, shall be entitled to either increase or decrease the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes size of managing any rental pooling arrangements as may be established in respect of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deeds. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing parking basement areas in the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the sellerbuilding. 9.2 By his signature hereto the purchaser irrevocably and in rem suam appoints the seller as his agent and attorney to attend any meetings of the body corporate at which the purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser for the amendment of the rules.

Purchaser’s Acknowledgment. 9.1 The purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 the unit is sold seller shall, after completion of its marketing campaign in accordance respect of the second phase of the scheme, commence with the development and shall, as soon as possible after construction of the relevant building in that phase of the scheme, procure the approval of the sectional plan of extension and make application to the Registrar of Deeds for the registration of the sectional plan of extension in order to effect transfer; 9.1.2 the unit shall be as reflected on the approved sectional plan of extension and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, authority and subject to any conditions of the applicable zoning, conditions of consolidation, zoning and any all applicable conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit to the purchaser after approval and registration of the sectional plan and the opening of a sectional title register in respect of the building; 9.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Management Act shall apply subject to any those changes and modifications allowed as have been approved by the Act and as envisaged in this agreement and Chief Ombud which the seller may deem deemed necessary for the proper management and control of the building taking into account and the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening of the sectional title register shall make rules in terms of Section 35 of the Act attaching a value of 50% to the vote of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes of managing any rental pooling arrangements as may be established in respect of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deeds. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the sellerscheme. 9.2 By his signature hereto the purchaser irrevocably and in rem suam appoints the seller as his his/her agent and attorney to attend any meetings of the body corporate at which the purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser for on any matter as may be necessary pertaining to the amendment of the rulesrules or the adoption of any rules provided that the developer shall only exercise this right in circumstances where the purchaser is not physically present or represented by a duly authorised proxy at such meetings.

Purchaser’s Acknowledgment. 9.1 8.1 The purchaser PURCHASER acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that: 9.1.1 8.1.1 for reasons of security on the unit is sold SCHEME and due to the nature of the proposed development of the SCHEME and the various matters about which any purchaser should become aware when buying into the SCHEME, if the PURCHASER wishes to dispose of the PROPERTY, or any share therein he shall, to the extent that he requires the services of an estate agent in regard to such disposal, do so in accordance with this clause; 8.1.2 this clause is inserted for the sectional plan benefit of the SELLER, who shall be entitled to enforce its terms by law; 8.1.3 any owner who acquires the PROPERTY and who thereafter wishes to dispose of the PROPERTY, shall only be able to do so after taking transfer of the PROPERTY into the PURCHASER’s name, and shall – a) to extent that he requires the services of a estate agent, do so exclusively through an estate agent accredited by the SELLER. In consideration for its rights herein, the SELLER shall procure that the commission payable to the accredited estate agent shall not exceed 5% (plus Value Added Tax thereon) of the purchase price of the PROPERTY; b) whether or not he utilises the services of a estate agent, include a clause in any document pursuant by which he disposes of the PROPERTY on the same terms precisely as this clause so that any future owner of the PROPERTY shall, to the extent that such owner requires the services of an estate agent in regard to the disposal of the PROPERTY, be required to appoint only an estate agent accredited by the SELLER. 8.2 The PURCHASER further acknowledges that in the event of the PURCHASER being an artificial person, such as a close corporation, company or trust, and in the event of the member, director, shareholder, trustee or beneficiary of the PURCHASER (as the case may be) wishing to dispose of the member’s interest, shares or beneficial interest in the PURCHASER (as the case may be) he shall to the extent that such party requires the services of an estate agent in regard to such disposal, the provisions of paragraph 8.3 of the CONDITIONS OF SALE shall apply mutatis mutandis. 8.3 All the SELLER’S rights and obligations in terms of paragraph 8.1 and 8.2 hereof shall be ceded and assigned to the BODY CORPORATE by the SELLER by no later than the date that the SELLER no longer owns any section in the SCHEME or the right to extend the SCHEME by the erection of at least one section (as contemplated in Section 25 of the ACT). 8.4 The PURCHASER acknowledges that in the event of the PURCHASER disposing of the PROPERTY or in the event of the PURCHASER being an artificial person, such as a close corporation, company or trust and the participation quota endorsed thereon member’s interest, shares or beneficial interest (as and when approved and subject the case may be), being disposed, of privately, (i.e. without the assistance of an estate agent), then in that event, the PURCHASER acknowledges that it shall be responsible for payment of an administration fee charged by the BODY CORPORATE in consideration for attending to any modification or alterations which its formalities in this regard. The aforesaid administration fee charged by the BODY CORPORATE shall be in the sole discretion of the BODY CORPORATE, who may be made thereto increase same from time to time (it being recorded that the current fee, as at the DATE OF SIGNATURE, charged by the BODY CORPORATE in accordance with this regard, is the amount referred to in 1.14 of the CONTRACT OF SALE. 8.5 When selling the PROPERTY, the PURCHASER shall utilise such documentation (including the standard Sale Agreement), as is prescribed by the BODY CORPORATE (as the case may be). 8.6 Notwithstanding the provisions of clause 10, in the Act or event of any authoritya breach of this clause 8, the SELLER shall be entitled in its absolute discretion to refuse its written approval as required to the sale and subject to any conditions of the applicable zoning, conditions of consolidation, and any conditions of title; 9.1.2 it will only be possible for the seller to give transfer of the unit PROPERTY until the provisions of this clause 8 are complied with and no party to this CONTRACT OF SALE shall have any claim for damages arising out of SELLER’S refusal to give such written approval. 8.7 In order to protect the SELLER’S rights in this regard, the PROPERTY shall be transferred to the purchaser after approval and registration of PURCHASER, subject to a condition in the sectional plan and Title Deeds to the opening of a sectional title register in respect of PROPERTY to the building; 9.1.3 if effect that the areas of the common property are found not to correspond to those set out in this agreementPROPERTY, the seller or any portion thereof or interest therein shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 the seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Act shall apply subject to any changes and modifications allowed by the Act and as envisaged in this agreement and which the seller may deem necessary for the proper management and control of the building taking into account the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening of the sectional title register shall make rules in terms of Section 35 of the Act attaching a value of 50% to the vote of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) alienated or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months otherwise transferred without the prior written consent of SELLER first being had and obtained, which consent the seller and, after its establishment, the body corporate, who SELLER shall grant provided the provisions of this CONTRACT have been complied with. 8.8 The PURCHASER authorises the SELLER to make such consent alterations or amendments to the RULES as well as to file and lodge such altered and amended Rules in the event that an apartment/hotel management company has not been established for purposes of managing any rental pooling arrangements Deeds Registry at Pietermaritzburg, as may be established in respect of the scheme from time SELLER believes is necessary to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit give effect to the purchaserprovisions of this CONTRACT, in a format acceptable and so as to provide for the Registrar harmonious operation of Deeds. 9.1.6 It is recorded this SCHEME, and for that purpose the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the seller. 9.2 By his signature hereto the purchaser PURCHASER irrevocably and in rem suam appoints the seller SELLER as his the PURCHASER’S duly authorized attorney, agent and attorney proxy on the PURCHASER’S behalf, and to the PURCHASER’S exclusion, to attend any all such meetings and do all such things as are necessary to give effect to the provisions of this clause. 8.9 For so long as the SELLER owns a section (or the right to extend the SCHEME by the erection of at least one SECTION, as anticipated in Section 25 of the body corporate at which ACT): 8.9.1 the purchaser is PURCHASER irrevocably and in rem suam appoints the SELLER to exercise the PURCHASER’S voting rights with regard to the appointment of the Trustees of the BODY CORPORATE and the appointment of the Managing Agents of the SCHEME, the PURCHASER acknowledging that the SELLER or its nominee may apply to be appointed as Managing Agents of the SCHEME, and 8.9.2 the PURCHASER shall not be entitled to be present but does not attend and then and there to vote, on behalf vote in favour of the purchaser for the amendment of any of the rulesRULES without the SELLER’s prior written consent. 8.10 All the SELLER’S rights and obligations in terms of paragraphs 8.8 and 8.9 hereof above shall be ceded and assigned to the BODY CORPORATE by the SELLER by no later than the date the SELLER no longer owns any section in the SCHEME or the right to extend the SCHEME by the erection of at least one section (as contemplated in Section 25 of the ACT). 8.11 It is recorded that the SELLER shall be entitled to subdivide any section in the SCHEME owned by it and/or consolidate any two adjacent sections in the SCHEME owned by it, as the SELLER in its sole and absolute discretion requires. The PURCHASER hereby consents to the aforesaid subdivisions and consolidations, insofar as its consent may be required, and hereby irrevocably and in rem suam, nominates, constitutes and appoints any director of the SELLER, with power of substitution, to call and attend any meeting of the BODY CORPORATE or of the trustees of the BODY CORPORATE, on the PURCHASER’S behalf, and to vote in favour of any such resolution that may be required to give effect to any consolidation or subdivision of the sections in the SCHEME that the SELLER may require, as aforesaid. 8.12 It is recorded that the PURCHASER is agreeable to the SELLER, in the SELLER’s sole and absolute discretion, allowing time share activities (as contemplated in the Property Time Share Control Act 1983 (as amended)) to be conducted from certain units in the SCHEME. Should the SELLER, in its sole and absolute discretion, agree to allow any time share activity to be conducted from any unit in the SCHEME, to the extent that the RULES require amendment in this regard to allow such activities, the PURCHASER irrevocably and unconditionally agrees to the RULES being amended and further hereby irrevocably and in rem suam, nominates, constitutes and appoints any director of the SELLER, with the power of substitution, to call and attend any meeting of the BODY CORPORATE or of the trustees of the BODY CORPORATE, on the PURCHASER’s behalf (and to the PURCHASER’s exclusion), and to vote in favour of any such resolution that may be required to amend the RULES to allow time share activity to be conducted from such units in the SCHEME as the SELLER may agree to. (It is recorded that the PURCHASER’s consent in terms of this paragraph shall constitute the required consent to the SELLER conducting time share activities in respect of the units of the SCHEME designated by the SELLER, as contemplated in Regulation 5(b) of the Property Timeshare Control Act 1983 (as amended)). 8.13 The PURCHASER acknowledges that it understands the English language and considers itself fluent therein. 8.14 The PURCHASER acknowledges that it has had an opportunity to carefully read and consider the provisions of this CONTRACT and that it has been free to secure independent legal advice in respect of the provisions of same. In addition, the PURCHASER acknowledges that the SELLER undertook that the SELLER or the CONVEYANCERS, would explain any provisions of the CONTRACT which the PURCHASER may not have understood fully and, to the extent that the PURCHASER made the SELLER aware of any provisions of this CONTRACT it did not understand, such provisions were fully explained to the PURCHASER.

Purchaser’s Acknowledgment. 9.1 7.1 The purchaser Purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that:following:- 9.1.1 7.1.1 the unit section is sold in accordance with the sectional plan and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, and subject to any applicable conditions of the applicable zoning, conditions of consolidation, and any conditions of titletitle which may be incorporated therein; 9.1.2 7.1.2 it will only be possible for the seller Seller to give transfer of the unit section to the purchaser Purchaser after approval and the registration of the sectional plan and the opening of a sectional title register Sectional Title Register in respect of the building; 9.1.3 7.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller Seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 7.1.4 the seller Seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Act shall apply subject to any changes and modifications allowed by the Act and as envisaged in this agreement and which the seller Seller may deem necessary for provided that:- 7.1.4.1 such rules be amended, modified or replaced to accord with the proper management and control reasonable requirements of any bank approved by the building taking into account the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening Seller which may grant mortgage bonds to any Purchaser of the sectional title register shall make a unit; 7.1.4.2 such rules in terms of Section 35 of the Act attaching a value of 50% may grant to the vote members of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes sole and exclusive use of managing any rental pooling arrangements as may be established in respect areas of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deedscommon property. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the seller. 9.2 7.2 By his signature hereto the purchaser Purchaser irrevocably and in rem suam appoints the seller Seller as his agent and attorney to attend any meetings meeting of the body corporate at which the purchaser Purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser Purchaser for the amendment of the rules as referred to in clause 7.1.4 above or the adoption of any house rules. 7.3 The Purchaser hereby acknowledges that construction may still be taking place on completion of the development subsequent to them having taken occupation. As a result thereof, the Purchaser indemnifies the Seller against any potential noise / nuisance caused by the aforementioned construction, building operations as well as loitering workers. 7.4 Purchasers who have purchased sections in Phase 1 of the development hereby acknowledge and understand that they will not be allowed access to, use or enjoyment of the Club House until such time as Phase 6 of the development has been completed.

Purchaser’s Acknowledgment. 9.1 8.1 The purchaser Purchaser acknowledges that he is aware of and fully acquainted with the matters hereinafter set forth, namely that:following:- 9.1.1 8.1.1 the unit section is sold in accordance with the sectional plan and the participation quota endorsed thereon as and when approved and subject to any modification or alterations which may be made thereto from time to time in accordance with the provisions of the Act or of any authority, and subject to any applicable conditions of the applicable zoning, conditions of consolidation, and any conditions of titletitle which may be incorporated therein; 9.1.2 8.1.2 it will only be possible for the seller Seller to give transfer of the unit section to the purchaser Purchaser after approval and the registration of the sectional plan and the opening of a sectional title register Sectional Title Register in respect of the building; 9.1.3 8.1.3 if the areas of the common property are found not to correspond to those set out in this agreement, the seller Seller shall not be liable for any shortfall nor shall it be entitled to claim compensation for any surplus; 9.1.4 8.1.4 the seller Seller intends to procure that upon the opening of the Sectional Title Register and the establishment of the body corporate, the management and conduct rules contained in the regulations to the Act shall apply subject to any changes and modifications allowed by the Act and as envisaged in this agreement and which the seller Seller may deem necessary for provided that:- 8.1.4.1 such rules be amended, modified or replaced to accord with the proper management and control reasonable requirements of any bank approved by the building taking into account the mixed use nature thereof. It is recorded that the developer, when submitting the application for the opening Seller which may grant mortgage bonds to any Purchaser of the sectional title register shall make a unit; 8.1.4.2 such rules in terms of Section 35 of the Act attaching a value of 50% may grant to the vote members of the owners of the residential section and a rule in terms of which the liability of owners of residential section shall, for the purposes of Section 37(1)(a) or Section 47(1) of the Act be modified so that the owners of the residential section are liable to contribute a total of 60% to the levy fund in terms of Section 37(1) of the Act. 9.1.5 The rules in 9.1.4 shall provide, inter alia, that an owner of a residential unit may not enter into a lease in respect of that unit for any period or periods less than 3 months without the prior written consent of the seller and, after its establishment, the body corporate, who shall grant such consent in the event that an apartment/hotel management company has not been established for purposes sole and exclusive use of managing any rental pooling arrangements as may be established in respect areas of the scheme from time to time or, if such serviced suites / hotel management company has been formed and has entered into an agreement with the purchaser pursuant to which the section will be managed as part of any rental pool arrangement or not. The seller may procure that the aforesaid be incorporated into the title deeds of the unit on transfer of the unit to the purchaser, in a format acceptable to the Registrar of Deedscommon property. 9.1.6 It is recorded that the seller, that as a condition of its purchase of the land, is obliged to erect a sign on the common property containing the as following wording: The seller shall erect the said sign at such position on the common property as the seller deems appropriate and such sign shall not be altered or removed save with the prior written consent of the seller. 9.2 8.2 By his signature hereto the purchaser Purchaser irrevocably and in rem suam appoints the seller Seller as his agent and attorney to attend any meetings meeting of the body corporate at which the purchaser Purchaser is entitled to be present but does not attend and then and there to vote, on behalf of the purchaser Purchaser for the amendment of the rules as referred to in clause 8.1.4 above or the adoption of any house rules.