TERMS CONTRACT. 30.1 If this is a ‘terms contract’ as defined in the Sale of Land Act 1962:
(a) any mortgage affecting the land sold must be discharged as to that land before the purchaser becomes entitled to possession or to the receipt of rents and profits unless the vendor satisfies section 29M of the Sale of Land Act 1962; and
(b) the deposit and all other money payable under the contract (other than any money payable in excess of the amount required to so discharge the mortgage) must be paid to a legal practitioner or conveyancer or a licensed estate agent to be applied in or towards discharging the mortgage.
30.2 While any money remains owing each of the following applies:
(a) the purchaser must maintain full damage and destruction insurance of the property and public risk insurance noting all parties having an insurable interest with an insurer approved in writing by the vendor;
(b) the purchaser must deliver copies of the signed insurance application forms, the policies and the insurance receipts to the vendor not less than 10 days before taking possession of the property or becoming entitled to receipt of the rents and profits;
(c) the purchaser must deliver copies of any amendments to the policies and the insurance receipts on each amendment or renewal as evidence of the status of the policies from time to time;
(d) the vendor may pay any renewal premiums or take out the insurance if the purchaser fails to meet these obligations;
(e) insurance costs paid by the vendor under paragraph (d) must be refunded by the purchaser on demand without affecting the vendor’s other rights under this contract;
(f) the purchaser must maintain and operate the property in good repair (fair wear and tear excepted) and keep the property safe, lawful, structurally sound, weatherproof and free from contaminations and dangerous substances;
(g) the property must not be altered in any way without the written consent of the vendor which must not be unreasonably refused or delayed;
(h) the purchaser must observe all obligations that affect owners or occupiers of land;
(i) the vendor and/or other person authorised by the vendor may enter the property at any reasonable time to inspect it on giving 7 days written notice, but not more than twice in a year.
TERMS CONTRACT. This section 1.3 only applies if this vendor statement is in respect of a terms contract where the purchaser is obliged to make 2 or more payments (other than a deposit or final payment) to the vendor after the execution of the contract and before the purchaser is entitled to a conveyance or transfer of the land. Not Applicable.
TERMS CONTRACT. If this contract is intended to be a terms contract within the meaning of the Sale of Land Act 1962 then add the words 'terms contract’ in this box, and refer to general condition 23 and add any further provisions by way of special conditions: The following details apply if this contract is subject to a loan being approved: Lender: Loan amount: Approval date: SPECIAL CONDITIONS
TERMS CONTRACT. (general condition 30) If this contract is intended to be a terms contract within the meaning of the Sale of Land Act 1962 then add the words ‘terms contract’ in this box and refer to general condition 30 and add any further provisions by way of special conditions. LOAN (general condition 20) This contract is subject to a loan being approved and the following details apply if the box is checked ☐ Lender: Loan Amount: Approval date: BUILDING REPORT General Condition 21 applies only if the box is checked ☐ PEST REPORT General Condition 22 applies only if the box is checked ☐ SPECIAL CONDITIONS This contract does not include any special conditions unless the words ‘special conditions’ appear in this box. Special Conditions GST WITHHOLDING (general condition 25) For the Purposes of section 14-255 of Schedule 1 to the Taxation Administration Act 1953 (Cth): We confirm our client is not registered or required to be registered for GST purposes. The Purchaser is not required to make a payment under 14-250 of Schedule 1 to the Taxation Administration Act 1953 (Cth) in relation to the supply. ✓ This box is ticked if the Purchaser is required to make a GST Withholding Payment as the Vendor is making a taxable supply that is a supply of potential residential land and the Purchaser is not registered for GST or does not acquire the Property for a creditable purpose. If the box is ticked, the Vendor provides the GST Withholding Notice set out below. Where there are multiple Purchasers, the GST Withholding Payment Notice is taken to have been provided to each Purchaser separately. ☐ GST WITHHOLDING NOTICE Name: Australian Business Number (ABN): GST Withholding Amount: (The price multiplied by the GST Withholding Rate) $ If there are multiple Purchasers who are purchasing the Property as tenants-in-common, each is deemed to be the recipient of a separate proportional supply and is required to pay a proportional amount of $ based on their interest set out in the Particulars. The GST Withholding Amount must be paid on: The Settlement Date as required under General Condition 25. Any other matters as specified in the regulations: Not Applicable
TERMS CONTRACT. 30.1 If this is a ‘terms contract’ as defined in the Sale of Land Act 1962:
(a) any mortgage affecting the land sold must be discharged as to that land before the purchaser becomes entitled to possession or to the receipt of rents and profits unless the vendor satisfies section 29M of the Sale of Land Act 1962; and
TERMS CONTRACT. (General Condition 23) If this contract is intended to be a terms contract within the meaning of the Sale of Land Act 1962 (Vic) then insert the words 'terms contract' in this box and refer to General Condition 23 and add any further provisions by way of special conditions. SPECIAL CONDITIONS This contract does not include any Special Conditions unless the words 'Special Conditions' appear in this box. Special Conditions Special Conditions
TERMS CONTRACT. Add special conditions. General condition 14(a)-(e) General condition 14(f)-(j)
