Specific Obligations of the Owner. 5
2.1 Restriction on future use of the Subject Land 5
2.2 Restriction on future use of the Subject Land 7
2.3 Restriction on future use of the Subject Land 8
2.4 Restriction on future use of the Subject Land 9
2.5 Section 3AA(2) Notices 10 2.6 Costs 10 2.7 Indemnity 11
Specific Obligations of the Owner. The Owner acknowledges and agrees that:
3.1.1 the ground floor of any building on the Subject Land must incorporate a supermarket comprising a minimum leasable floor area of at least 1300 square metres; and
3.1.2 that part of the ground floor of any building on the Subject Land comprising an area of at least 1300 square metres of leasable floor area set aside for a supermarket must not be used for any other purpose.
Specific Obligations of the Owner. 3
2.1 Restriction on subdivision and the future use and development of the Subject Land 3
2.2 Development of the Subject Land 3 2.3 Approval of draft plans and specifications 4 2.4 Extension of Milestone Dates 4 2.5 Bank Guarantee 5
3.1 Notice and Registration 5 3.2 Further actions 5 3.3 Breach of the Owner’s obligations 6
Specific Obligations of the Owner. 2.1 Restriction on subdivision, use, development and sale of the Subject Land
(a) The Owner covenants that, during the Moratorium Period, unless with the prior written consent of Development Victoria (which may be given or withheld in its absolute discretion, and if given, may be granted subject to compliance with certain conditions including the conditions set out in clause 2.1(b)), the Owner:
(i) will not subdivide the Subject Land into two or more Lots and/or Reserves;
(ii) may only use or develop the Subject Land for the purposes of the Project, to the exclusion of all other purposes; and
(iii) will not sell or otherwise dispose of the Subject Land to a third party unless it is a Related Body Corporate and the transaction occurs to implement a genuine corporate restructure within a group of Related Bodies Corporate.
(b) As a condition of Development Victoria's consent under clause 2.1(a) and subject to clause 2.1(c), where the Owner proposes to:
(i) sell the whole of the Subject Land during the Moratorium Period, the Owner must pay to Development Victoria any Valuer-General Victoria determined increase in the market value of the fee simple estate in the Subject Land that occurs between the day of sale under the First Contract of Sale and the date that the Owner exchanges the On-sale Contract with the third party purchaser upon settlement of the On-sale Contract; or
(ii) subdivide the Subject Land and sell-down lots created from the Subject Land to third party purchasers during the Moratorium Period, the Owner must pay to Development Victoria the Valuer- General Victoria determined market value of the fee simple estate in each lot, calculated on the day that a binding contract of sale is exchanged with each end-purchaser upon the settlement of each sale.
(c) The Owner:
(i) must reimburse Development Victoria in full for any valuation expenses that Development Victoria incurs by operation of clause 2.1(b) above, within 21 days of demand OR upon settlement of each relevant sale; and
(ii) agrees that Development Xxxxxxxx xxx, at any time, lodge a caveat on the certificate of title for the Subject Land (or child titles created from the Subject Land) noting Development Victoria's partial equitable estate under clause 2.1(b).
(d) If the Owner wishes to lease the Subject Land to another during the Moratorium Period, the Owner must:
(i) obtain Development Victoria's prior written consent, which may be granted or withheld in Development Victoria's absolute discr...
Specific Obligations of the Owner. The Owner acknowledges, covenants and agrees with the Responsible Authority that:
3.1. The development of the Land will at a minimum deliver one of the four options provided under this Clause 3; Affordable Housing Delivery Plan
3.2. Prior to any application for a planning permit for the subdivision and/or development of the Land for residential purposes, the Owner must submit an Affordable Housing Delivery Plan to the Responsible Authority for approval;
3.3. The Affordable Housing Delivery Plan must detail how the Owner will at a minimum implement and deliver one of the four options provided under this Clause 3 pursuant to the following timeframes:
3.3.1. 50% of the minimum Affordable Housing outcomes provided for in this Agreement to be delivered no later than the practical completion of 60% of anticipated Total Residential Yield for the Land; and
3.3.2. 100% of the minimum Affordable Housing outcomes provided for in this Agreement to be delivered no later than the practical completion of 85% of the anticipated Total Residential Yield for the Land. in accordance with this Agreement and to the satisfaction of the Responsible Authority;
3.4. Once the Affordable Housing Delivery Plan is approved, the Owner must:
3.4.1. implement the Affordable Housing Delivery Plan; and
3.4.2. submit a progress report to the Responsible Authority prior to the issue of a Statement of Compliance for each stage of the subdivision and/or development of the Land pursuant to the relevant planning permit, detailing the status of the implementation of the Affordable Housing Delivery Plan, to the satisfaction of the Responsible Authority;
Specific Obligations of the Owner. The Owner covenants and agrees that:
3.1 The Owner will sell not less than 10 per cent of all Dwellings to be constructed on the Subject Land to a Registered housing association or Registered housing provider for a sum which does not exceed more than 80 per cent of the market price of each Dwelling to be sold pursuant to this clause.
3.2 The Dwellings which the Owner will construct for sale in accordance with clause 3.1 of this Agreement:
3.2.1 must be integrated with the balance of the Dwellings to be constructed on the Subject Land; and
3.2.2 must not be constructed differently from all the other Dwellings to be constructed on the Subject Land including in terms of size, type, materials and finishes except that the Owner does not have to provide a car park to each of these Dwellings.
3.3 Following the transfer of ownership from the Owner to a Registered housing association or Registered housing provider of the Dwellings referred to in clause 3.1 of this Agreement (Social housing),
3.3.1 except with the prior written consent of Council, the Social housing must continue to be owned by a Registered housing association or Registered housing provider; and
3.3.2 except with the prior written consent of Council, the ongoing management of the Social housing must be undertaken by a Registered housing association or Registered housing provider.
Specific Obligations of the Owner. The owner assumes and acknowledges the following obligations: Respect and honor the rentals on the dates specified according to the reservation calendar, allowing the use of the home in favor of the client during the agreed period. This is considered the essential obligation of the agreement. The violation of this obligation will entail the reimbursement of all travel expenses of THE CLIENT, expenses incurred and any additional compensation that is necessary to satisfy the client in the event of non-compliance. HOMEBELIKE will always make its best efforts without guaranteeing positive results, to try to change the CLIENT to another property so that these penalties, if finally applicable, are not necessary. It agrees not to access the PROPERTY, while it is rented, unless authorized in writing by HOMEBELIKE. THE OWNER will hold HOMEBELIKE and THE CLIENT exempt from all liability for any damage suffered by any person in THE PROPERTY, for which the OWNER is recommended to hire and maintain the necessary insurance for this purpose, on his own account, as well as Insurance policies that may be necessary, which include civil liability against any visitor to THE PROPERTY, for an amount that may not be less than ONE HUNDRED THOUSAND AMERICAN DOLLARS (US$100,000.00). The HOMEBELIKE platform may offer insurance options to THE OWNER to guarantee compliance with this obligation. THE OWNER must notify HOMEBELIKE if he decides to sell THE PROPERTY, so that this decision does not affect current rentals or confirmed reservations; or that they look for any pertinent solution for the confirmed CLIENT.
Specific Obligations of the Owner. [Option 1]
