Terms and Form of Bond
Terms and Form of Bond Sample Clauses
Related to Terms and Form of Bond
LOCATION AND DESCRIPTION The subject property is an office unit bearing postal address Xxxx Xx. 00-00, Xxxxxxxxxxx Xxxxxx Xxxxxx, Xxxxxxxxx Xxxxxxx, Xxxxx 0, 00000 Xxxxxxxxx, Xxxxxxxx Xxxxx Xxxxx. Accommodation:- Office area, toilet and air conditioner ledge. RESERVE PRICE The property will be sold on an “as is where is” basis, subject to a reserve price of RM414,000.00 (RINGGIT MALAYSIA FOUR HUNDRED AND FOURTEEN THOUSAND ONLY), subject to the Conditions of Sale and by way of an Assignment from the Assignee subject to consent being obtained by the successful bidder (“the Purchaser”) from the relevant authorities, if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the relevant authority. Apportionment on any arrears of quit rent, assessment rate and maintenance charges ONLY which is lawfully due i.e which is unpaid for up to maximum 6 years preceding the successful auction date in respect of the property up to the date of sale shall be paid by the Bank upon receipt of full auction proceeds and any such sums due and payable after the date of sale shall be borne by the Purchaser. Successful Bidder is urge to submit their claim to the Bank within sixty (60) days from the date of payment of balance purchase money (or any extended period allowed by the Bank); any subsequent claims made thereunder will not be entertained by the Bank and the same shall be borne by the Purchaser solely. The Assignee/Bank shall not be liable to make payment or to deduct from the proceeds of sale any outstanding utilities/bills relating to the property namely water, electricity, telephone, gas or sewerage charges, administration charges and other utilities. All other fees, costs and charges relating to the transfer and assignment of the property including any revival cost for abandoned project (if any) shall also be borne solely by the successful Purchaser. Intending Purchaser shall make his own inquiries in respect thereof and the Purchaser shall be deemed to have full knowledge of the same.
