deed of sale: danso business trustspitskopliving.co.za/wp...of-sale-1707-duett.pdf · deed of sale:...

1

DEED OF SALE: DANSO BUSINESS TRUST

ERF 1707 DUETTES SCHEDULE A REFERRED TO IN THE ATTACHED DEED OF SALE

PURCHASER Full Names/CC/Trust : ________________________________________________________________

ID No/Reg No (CC of Trust) : ____________________________________________________________

Income Tax Ref No : __________________________________________________________________

Full names of Spouse/Trustee/Member: ____________________________________________________

Identity Number of spouse : _____________________________________________________________

Marital Status : Unmarried Antenuptial Contract In community of property

Current physical address (domicilium citandi et executandi) (not postal address): __________________

____________________________________________________________________________________

Postal Address: _______________________________________________________________________

Fax No : ____________________ Email: __________________________________________________

Telephone (Home): _____________ Telephone (Business): _____________ Cell Phone _____________

PARTICULARS REFERRED TO IN CLAUSES 2.2.3, 4.1.1, 4.1.2, 4.2, 5.1, 6.2, 8.11, 17.1 AND 21.1 OF THE ATTACHED AGREEMENT : Unit Number and extent referred to in Clause 2.2.3.1: No ____________________________________

Extent: ____________________ square metres

Section number as indicated on Sectional plan referred to in clause 8.11:No ______________________

Purchase price referred to in Clause 4.1.1 : R ____________________ (_________________________

___________________________________________) (purchase price must be in figures and words)

Deposit referred to in Clause 4.2 : R _______________________ (______________________________

_________________________________________________) (deposit must be in figures and words)

Date of possession referred to in Clause 5.1: _________________________________________ 20____

Occupational Interest referred to in Clause 6.2 : R ________________________ per month

Agent referred to in clause 17 : ___________________________________________________________

Agents Commission as referred to in clause 17.1: R_____________________ (____________________

______________________________________________) (this amount must be in figures and words)

Loan amount referred to in Clause 21.1: R______________________ (__________________________

______________________________________________) (this amount must be in figures and words)

Bank: _______________________________________________________________________________

AS WITNESSES:

1. ________________________ _________________________

2. ________________________ _________________________

SELLER (sign in full) AS WITNESSES:

1. _________________________ _________________________

2. _________________________ _________________________

PURCHASER (sign in full)

1


AGREEMENT OF SALE

PARTIES 1. The PARTIES to this AGREEMENT are: 1.1 DANSO BUSINESS TRUST

Registration Number: IT 2063/2002

- and – 1.2 The PARTY referred to in Schedule “A” hereto. INTRODUCTION 2.1 The SELLER hereby discloses and confirms that: 2.1.1 it is the process of building Townhouses on Erf 1707, Langenhovenpark (Extension

34), District Bloemfontein, Province Free State; 2.1.2 the buildings will be erected in accordance with the building plans to be approved by

the Mangaung Metro Municipality, which building plans are available at the SELLER; 2.1.3 as and when the buildings are completed, the SELLER will apply for the opening of

a sectional title register for the SCHEME in the Deeds Office in Bloemfontein in terms of the provisions of the Act.

GENERAL Interpretation 2.2 In this AGREEMENT the following terms and expressions shall have the meanings ascribed

to them hereunder unless the context specifically requires otherwise - 2.2.1 the SELLER The PARTY referred to in Clause 1.1; 2.2.2 the PURCHASER The PARTY referred to in Schedule A; 2.2.3 the PROPERTY A unit consisting of 2.2.3.1 The Unit Number as indicated on Schedule A

and further ascribed on the sketch plans (copies attached hereto) prepared by the ARCHITECT in the buildings known as ERF 1707 DUETTES situated on Erf 1707, Langenhovenpark (Extension 34), District Bloemfontein, Province Free State;

2.2.3.2 An undivided share in the common property in the SCHEME apportioned to the said section in accordance with the participation quota that will be endorsed on the sectional plan to be prepared by the surveyor appointed by the SELLER;

2.2.4 the SCHEME The sectional title development scheme in terms of the provisions of the Sectional Titles Schemes Management Act, no 8/2011, which will be registered by the SELLER in the Deeds Office in Bloemfontein and which will be known as ERF 1707 DUETTES ;

2.2.5 the PARTIES A collective reference to the SELLER and the PURCHASER and “PARTY” means one of them;

2.2.6 a DAY Any DAY of the week, including Sundays and South African Public Holidays;

2.2.7 the CONVEYANCERS Messrs Symington & de Kok Symington & de Kok Building 169b Nelson Mandela Drive Bloemfontein (Ref GJ Rehbock [email protected]);

2


2.2.8 the AGREEMENT the Deed of Alienation as defined in Section 1 of the Alienation of Land Act No. 68/1981, as amended in respect of the PROPERTY and as set out in this document between the SELLER and the PURCHASER;

2.2.9 the BODY CORPORATE The BODY CORPORATE established for the SCHEME known as ERF 1707 DUETTES in terms of the Sectional Titles Schemes Management Act, no 8/2011;

2.2.10 the RULES The RULES of the SCHEME to be registered in terms of the Sectional Titles Schemes Management Act, no 8/2011 and which RULES are available at the offices of CONVEYANCERS;

2.2.11 the ACT The Sectional Titles Act No. 95/1986, as amended;

2.2.12 the SIGNATURE DATE the date of signature of the AGREEMENT by the PARTY last signing;

2.2.13 the ARCHITECT Sergio Nunes Strathearn Farm 2154 Bloemfontein 9301

Po Box 29008 Danhof 9310

e-mail: [email protected] Tel 072 148 0330 Where necessary the masculine gender shall include the feminine and the singular shall

include the plural and the plural shall include the singular and the following words in the AGREEMENT will have the same meaning as defined in the ACT, namely section, participation quota, draft sectional plan, sectional title deed, unit, owner, building, common property, exclusive use area, sectional title development scheme.

Indulgence 2.3 Any indulgence in respect of time or anything else granted by the SELLER to the

PURCHASER will not be considered to impair any of the rights of the SELLER in terms of the AGREEMENT, or affect any right whatsoever of the SELLER.

Exclusion of other agreements 2.4 This AGREEMENT cancels and supersedes all other contracts entered into by the PARTIES

before the date of this AGREEMENT and any amendment, addition hereto or consensual cancellation thereof will be of no force or effect unless it appears in writing and is signed by the PARTIES hereto.

Clause Headings 2.5 The head notes in this AGREEMENT are used only for the purpose of reference and shall in

no way effect or govern the construction or interpretation of this AGREEMENT. PURCHASE 3. The SELLER hereby sells to the PURCHASER who hereby purchases the PROPERTY on the

following terms and conditions. PURCHASE PRICE 4.1 The purchase price of the PROPERTY is indicated in Schedule A which amount includes

Value Added Tax (VAT). 4.2 The purchase price is payable as follows (*delete which is not applicable): 4.2.1 *Cash sale

In the event that the PURCHASER does not wish to obtain any loan financing, the PURCHASER shall, on acceptance of this AGREEMENT by the SELLER, pay into the trust account of the CONVEYANCERS an initial deposit of R20 000,00 (TWENTY THOUSAND RAND) to be held by the CONVEYANCERS in a special

3


interest bearing trust account in terms of the provisions of Section 86(4) of the Legal Practice Act, No 28/2014 at a financial institution of their choice. The interest will accrue to the PURCHASER. The balance of the purchase price, being the purchase price referred to in clause 4.1 minus the initial deposit, shall be paid to the CONVEYANCERS within 21 (Twenty One) days of the date of signature hereof, alternatively the PURCHASER shall have a suitable guarantee issued in terms of the provisions of clauses 4.3, 4.4 and 4.5 and deliver such guarantee within 21 (Twenty One) days after the date of signature hereof; or

4.2.2 *100% mortgage bond

In the event that the PURCHASER wishes to finance the full purchase price, the PURCHASER shall, on acceptance of this AGREEMENT by the SELLER, pay an initial deposit of R5 000,00 (FIVE THOUSAND RAND) which will be paid into the trust account of the CONVEYANCERS to be held by the CONVEYANCERS in a special interest bearing trust account in terms of the provisions of Section 86(4) of the Legal Practice Act, No 28/2014 at a financial institution of their choice. The interest will accrue to the PURCHASER. If the PURCHASER’s loan referred to in clause 21 is approved within the period referred to in clause 21, the PURCHASER shall have the guarantees referred to in clauses 4.3, 4.4 and 4.5 issued and will the initial deposit, plus interest, be refunded to the PURCHASER on date of registration of transfer and against receipt of payment of the purchase price from the proceeds of the loan; or

4.2.3 *Partial mortgage bond with cash deposit

In the event that the PURCHASER wishes to obtain financing for only a portion of the purchase price, an initial deposit of R5 000,00 (FIVE THOUSAND RAND) will be paid on date of acceptance of this offer by the SELLER which amount will be paid into the trust account of the CONVEYANCERS to be held by the CONVEYANCERS in a special interest bearing trust account in terms of the provisions of Section 86(4) of the Legal Practice Act, No 28/2014 at a financial institution of their choice. The interest will accrue to the PURCHASER. If the PURCHASER’s loan referred to in clause 21 is approved within the period referred to in clause 21, the balance of the purchase price, being the purchase price referred to in clause 4.1 minus the initial deposit less the proceeds of the PURCHASER’s loan referred to in clause 21, shall be paid to the CONVEYANCERS within 14 (Fourteen) days of approval of the said loan, alternatively the PURCHASER shall have a suitable guarantee issued in terms of the provisions of clauses 4.3, 4.4 and 4.5 and deliver such guarantee within 14 (Fourteen) days of approval of the said loan.

4.3 The PURCHASER hereby undertakes and binds himself to cause a guarantee for the purchase price (or the balance thereof referred to in clause 4.2) to be issued by a bank in favour of the SELLER or his nominee which guarantee shall be to the satisfaction of the SELLER and/or the CONVEYANCERS.

4.4 The PURCHASER will be liable for the costs of the issuing of the guarantee. 4.5 The said guarantee shall be payable on registration of the PROPERTY in the name of the

PURCHASER and shall be delivered to the CONVEYANCERS within the periods referred to in clause 4.2.

4.6 All payments in terms of this AGREEMENT shall be payable in cash, free of exchange, or any deductions whatsoever, at such an address as the CONVEYANCERS may indicate.

POSSESSION 5.1 The PURCHASER shall be placed in possession and occupation of the PROPERTY on

date as indicated in Schedule A: 5.1.1 free of any lease agreement; 5.1.2 subject to the RULES. The SELLER specifically discloses to the PURCHASER

that in terms of the RULES, the exclusive use of certain portions of the common property have been reserved in accordance with the provisions of Section 10(7) of the Sectional Titles Schemes Management Act, no 8/2011;

5.1.3 subject further to the provisions mentioned in Clauses 8 and 21, from which date it will be at the sole risk, profit or loss of the PURCHASER. 5.2 If the PROPERTY or any portion thereof is damaged or destroyed partly or in whole as a

4


result of fire or any other cause whatsoever, prior to the passing of the risk, the PURCHASER shall have no claim against the SELLER as a result of any temporary or permanent depravation of use of the PROPERTY, but shall the SELLER be entitled to either repair such damage at its cost or to cancel the AGREEMENT ab initio with reinstatement of the status quo ante.

5.3 If the SELLER is not able to give possession and occupation of the PROPERTY to the PURCHASER on the date referred to in clause 5.1, then the PURCHASER shall be placed in possession and occupation as soon as possible after the SELLER is able to give possession and occupation to the PURCHASER and do the PARTIES hereby agree that such date will then be the date of possession and occupation for purposes of this AGREEMENT.

5.4 The SELLER hereby undertakes to notify the PURCHASER 1 (ONE) month prior to the date mentioned in clause 5.1 of any possible delays in building operations and of what the expected date of possession and occupation for purposes of this AGREEMENT will be, or alternatively to confirm that possession and occupation will be granted on the date referred to in clause 5.1.

5.5 If it appears that the PROPERTY is not capable of being occupied on the date of possession as notified by the SELLER in terms of the provisions of clause 5.4, the PURCHASER shall, within 24 (TWENTY FOUR) hours after such date of possession notify the SELLER thereof in order for the SELLER to repair the outstanding items, if any. If the PURCHASER fails to give such notice, the PURCHASER shall remain liable for payment of occupational rent from the date referred to in clause 5.4.

OCCUPATIONAL RENTAL 6.1 If the date of occupation and possession does not co-inside with the date of transfer, the

PURCHASER shall in consideration thereof and for the period of such occupation, pay to the SELLER the amount occupational rental indicated in Schedule A, and if no such amount is included in Schedule A, occupational rental will be calculated at rate of 12% (TWELVE PERCENT) per year on the purchase price.

6.2 The occupational rental will be payable monthly in advance on or before the 5th DAY of every month until date of registration of the PROPERTY in the Deeds Office. The occupational rental will be calculated pro rata i.e. from the first DAY of each and every month until date of registration.

LEVIES, RATES AND TAXES 7.1 Pending the establishment of the BODY CORPORATE in terms of the Sectional Titles

Schemes Management Act, no 8/ 2011, a governing body will be established with regards to the SCHEME which will have the same rights and duties as the BODY CORPORATE.

7.2 At the establishment of the BODY CORPORATE in terms of the Sectional Titles Schemes Management Act, no 8/ 2011, the BODY CORPORATE will take over all the rights and duties of the governing body.

7.3 Membership of the governing body will be awarded to and is compulsory for all purchasers of sections in the SCHEME.

7.4 The ACT, the Sectional Titles Schemes Management Act, no 8/ 2011 and the RULES shall mutatis mutandis apply to the governing body and its members.

7.5 The PURCHASER binds himself to the SELLER as a stipulatio alteri on behalf of all other purchasers of sections in the SCHEME to the conditions and provisions of the RULES.

7.6 The PURCHASER shall be liable for all rates and taxes whatsoever levied upon the PROPERTY by the Mangaung Metropolitan Municipality or other authority as well as all levies payable to the Body Corporate. The PURCHASER shall further, from date of possession, be responsible for payment of all charges that may be payable to either the governing body, the Body Corporate or the Municipality for electricity-, water and/or sanitation connection deposits (if applicable) and for the payment for the provision of such services to the PROPERTY.

COMPLETION AND UNDERTAKING BY SELLER 8.1 The SELLER hereby undertakes to complete the PROPERTY in accordance with the

approved building plans and specifications thereto as indicated on the attached specification list marked Annexure B, before the date of possession referred to in clause 5.1 attached hereto or such extended date referred to in clause 5.3, on the condition that the SELLER will be entitled in his discretion to deviate from the building plans and

5


specifications thereto if, during the building and construction of the PROPERTY and units it appears that such deviation will result in the most significant, practical and economical completion of the PROPERTY and/or other units in the SCHEME, without essentially deviating from the building plans or having a negative effect on the quality and finishing of the PROPERTY;

8.2 If the PURCHASER requires any additional specifications, in other words specifications which are not included in the building plans and specifications thereto, such additional specifications will be an additional cost to the purchase price payable by the PURCHASER and does the PURCHASER hereby undertake to pay the additional amount for the additional costs to the SELLER against acceptance of the quotation. The PARTIES hereby agree that in the event that the PURCHASER requires additional specifications, the following conditions shall be applicable:

8.2.1 All additional specifications required by the PURCHASER must be requested in writing from the SELLER;

8.2.2 No additional specifications will be allowed in the event that such specifications constitute a deviation of the elevation of the PROPERTY, or if it results in a deviation from the approved building plans of the SCHEME, or the Sectional Title Plans and/or the participation quota of the SCHEME, and/or if it affects the floor area of the PROPERTY as indicated on the building plans and/or will result in a delay of the SELLER’S building program;

8.2.3 In the event that the SELLER is prepared to complete the additional specifications (other than the inadmissible additional specifications listed in 8.2.2), a quotation will be given to the PURCHASER for acceptance by the PURCHASER and the PURCHASER will, within 7 (SEVEN) days of acceptance of the quotation, effect payment of the additional specifications directly to the SELLER;

8.2.4 The PARTIES further agree that no additional specifications to the PROPERTY will be effected by the SELLER in the event where the request is received later than 2 (TWO) months prior to the proposed date of occupation referred to in clause 5.3, or any other postponed date referred to in clause 5.4 of this AGREEMENT;

8.2.5 Should registration of transfer not take place due to any breach by the PURCHASER, the monies paid for the additional specifications to the SELLER, will be forfeited.

If any delay is caused as a result of the additional specifications in registration of transfer of the PROPERTY into the name of the PURCHASER, the SELLER will be entitled to charge interest on the purchase price as from date on which registration of transfer would have been effected had it not been for the additional specifications, until date of registration of transfer, at the prime bank lending rate applicable from time to time at commercial banks in South Africa. The interest shall be payable in addition to the purchase price on or before date of registration of transfer on demand.

8.3 The PURCHASER shall be entitled, within a period of 14 (FOURTEEN) DAYS after the date of possession referred to in Clause 5, to provide the SELLER with a list of rectifications and/or defects, if any, to the PROPERTY for rectification. The SELLER shall attend to such rectification as soon as reasonably possible after receipt of the aforementioned list.

8.4 The PARTIES agree that the provisions of the Consumer Protection Act, No 68 of 2008, as amended (hereafter the CPA) will be applicable on this transaction. The PARTIES hereby agree that the PROPERTY is sold with the implied warrantee of quality as envisaged in Section 56 of the CPA being a guarantee that the PROPERTY will adhere to the requirements and standards as set out in Section 55 of the CPA which makes provision therefore that the PURCHASER shall have the right to receive the PROPERTY on the basis that:

8.4.1 it is reasonably suitable for the purposes for which it is generally intended; 8.4.2 are of good quality, in good working order and free of defects; 8.4.3 will be usable and durable for a reasonable period of time, having regard to

the use to which it would normally be put and to all the surrounding circumstances of supply.

After having had sufficient time to consider the matter I/we hereby confirm that I/we have understood and accepted this risk and/or liability.

______________________ PURCHASER to sign here

8.5 It is further specifically recorded that, in terms of Section 55(6) of the CPA:

6


8.5.1 the PURCHASER has been expressly informed that the PROPERTY is being offered in the condition it is in with certain patent defects and possible further latent defects and;

8.5.2 the SELLER has afforded the PURCHASER the reasonable opportunity to inspect the PROPERTY, that the PURCHASER has inspected the PROPERTY carefully and the PURCHASER hereby specifically consents to accept the PROPERTY in the condition it is in, subject to the guarantees provided by the SELLER in terms hereof.

8.6 The PURCHASER shall: 8.6.1 until the PROPERTY is registered in the name of the PURCHASER, not be entitled

without the prior written consent of the SELLER, to make any alterations or improvements to the PROPERTY;

8.6.2 be obliged to keep the PROPERTY in the same state of good repair in which he received it, until date of registration of transfer or re-delivery to the SELLER after cancellation of the AGREEMENT as a result of whatsoever reason.

8.7 If the PROPERTY is not kept in the same state of good repair, the SELLER shall at his own discretion have the right to repair same without notice to the PURCHASER and recover the cost from the PURCHASER.

8.8 Notwithstanding the provisions of clauses 8, the SELLER will only be obliged to repair latent defects to the PROPERTY for a period of 3 (THREE) months calculated from the date of possession referred to in clause 5.

8.9 The PARTIES hereby agree that any other defects to the PROPERTY will be dealt with in accordance with the Housing Consumers Protection Measures Act 95/1998 and the regulations promulgated in terms of the said act.

After having had sufficient time to consider the matter I/we hereby confirm that I/we have understood and accepted this risk and/or liability.

________________________ PURCHASER to sign here

8.10 The PURCHASER acknowledges that he is aware of the fact that on the date of possession, the infrastructure, the buildings and the improvements with regards to the other units in the SCHEME might not be completed and that the PURCHASER may be inconvenienced as a result of the building activities, noise, dust or any other causes in connection with the completion of the SCHEME. The PURCHASER shall not be entitled to cancel or to withdraw from this AGREEMENT or to claim damages from any person as a result of any inconvenience that may be suffered.

8.11 The PARTIES hereby confirm that they are aware that the extent of the PROPERTY referred to in schedule A is surveyed for the purposes of drawing the building plan, which surveyance is calculated form the exterior line of the boundary walls, while the extent of the PROPERTY for purposes of the ACT will be surveyed form the median line of the boundary walls of the PROPERTY. There may be a difference in the extent as a result of the different methods of surveyance. The PURCHASER shall not be entitled to withdraw from the AGREEMENT or to claim damages from any person as a result of any possible difference in the extent of the PROPERTY.

8.12 It is recorded that the unit number of the PROPERTY as completed in Schedule A, refers to the unit number as indicated on the sketch plans prepared by the ARCHITECT and attached hereto. The SELLER hereby discloses that the Surveyor-General and/or other authority having jurisdiction, may require the PROPERTY to be numbered differently on the sectional plans to be approved in terms of the ACT when the PROPERTY is sufficiently completed for lodgement of the sectional plans. In such event, the PARTIES agree that the section number of the PROPERTY shall be completed on schedule A as listed on the sectional plan and the PURCHASER shall not be entitled to withdraw from the AGREEMENT as a result of the possible different number that may be awarded to the PROPERTY on the sectional plan.

REGISTRATION OF TRANSFER 9. The PARTIES hereby appoint the CONVEYANCERS to cause registration of transfer of the

PROPERTY in the name of the PURCHASER. COSTS 10.1 The SELLER accepts responsibility for his account and will pay on demand to the

CONVEYANCERS all transfer fees plus VAT calculated thereon; 10.2 The PURCHASER accepts responsibility for his account and will pay on demand all bond fees

7


and disbursements plus VAT calculated thereon. DATE OF TRANSFER 11.1 Transfer will be passed as soon as: 11.1.1 a sectional title register for the SCHEME is opened in the Deeds Office in

Bloemfontein; 11.1.2 the purchase price or balance thereof have either been guaranteed or paid; 11.1.3 the costs mentioned in Clause 10 have been paid. 11.2 The PARTIES hereby undertake to immediately upon written request by the

CONVEYANCERS, sign all documents and do all that is necessary, which in the opinion of the CONVEYANCERS may be necessary to effect registration of transfer of the PROPERTY in the name of the PURCHASER and to give effect to the provisions of the AGREEMENT.

CONDITIONS OF TITLE 12.1 The PROPERTY is sold as described in the existing or any title deed thereof, and is subject

to: 12.1.1 all the conditions, restrictions and servitudes (if any) attaching thereto or mentioned,

or referred to in the title deed of the PROPERTY; 12.1.2 the RULES; 12.1.3 the rights of extension to be registered in the Deeds Office, Bloemfontein; 12.2 The PURCHASER shall not be entitled without the SELLER'S prior written consent to sell,

alienate or otherwise dispose of the PROPERTY or to cede, assign, lease or make over any of the PURCHASER'S rights under this AGREEMENT before registration of transfer of the PROPERTY into the PURCHASER’s name.

JURISDICTION 13.1 The SELLER and the PURCHASER hereby consent to the jurisdiction or the Magistrate's

Court for any action that might arise from this AGREEMENT. 13.2 The PARTIES, however, reserve the right at his sole discretion to institute action in the High

Court and to claim costs on the High Court scale. DOMICILIA AND NOTICES 14.1 For all purposes of this AGREEMENT including the giving of notice and service of legal

process, the PARTIES respectively choose dimicilium citandi et executandi as follows – 14.1.1 the SELLER c/o Symington & de Kok

Symington & de Kok Building 169b Nelson Mandela Drive Bloemfontein (Ref GJ Rehbock) E-mail: [email protected] 14.1.2 the PURCHASER the address indicated in Schedule “A”. 14.2 Either PARTY shall be entitled to change their domicilia citandi et executandi from time to

time by giving written notice of an alternative address in the Republic (which address shall not be a postal address) to the other party, which notice shall take effect upon receipt thereof by the addressee.

14.3 All notices required to be given in terms of this AGREEMENT, shall be in writing and shall either be delivered by hand or be forwarded by pre-paid registered post or be sent by e-mail. In the event of notice by pre-paid registered post, it shall be deemed, until the contrary has been proved, to have been received by the addressee on the 7th DAY after posting. If notice is sent by e-mail it shall be deemed, until the contrary has been proved, to have been received by the addressee on the 1st DAY after sending thereof.

BREACH 15.1 In the event of the PURCHASER failing to fulfil on due date any of the terms and conditions

of this AGREEMENT, the SELLER or his agent shall have the right, immediately and without prior notice, either:

15.1.1 to cancel the sale by giving written notice to the PURCHASER, in which event the PURCHASER shall forfeit all monies paid to the SELLER or his Agent in terms hereof, subject to applicable legal limitations, without prejudice to the SELLER'S other legal

8


rights and remedies and the right to claim damages; OR 15.1.2 to claim immediate payment of the whole of the purchase price and the fulfilment

of all the terms and conditions thereof. 15.2 In the event of the cancellation of this AGREEMENT the SELLER shall further be immediately

entitled to retake occupation of the PROPERTY and to eject any occupier of the PROPERTY who has obtained the right of occupation from the PURCHASER and the PURCHASER will have no right of recourse against the SELLER in respect of any improvements effected by him to the PROPERTY, and the PURCHASER will have no right of retention.

15.3 The PURCHASER further undertakes to pay all attorney and client costs, collection commission and tracing costs which the SELLER might incur in collecting any amount owing in terms of this AGREEMENT by the PURCHASER and which is not paid on the due date thereof including interest on such an amount at the rate mentioned in Clause 16.

INTEREST ON DUE PAYMENTS 16.1 Should any sum of which the PURCHASER is liable in terms of this AGREEMENT

(whether for capital or interest) not be paid timeously as provided in this AGREEMENT, or should registration of transfer be delayed by the PURCHASER for any reason whatsoever, the PURCHASER shall pay interest on such amount or the purchase price, as the case may be, for the period of delay at the maximum interest rate in terms of the Prescribed Rate of Interest Act, Nr 55 of 1975, as amended, applicable from time to time.

16.2 The said interest calculated on a daily basis and capitalised monthly and shall be payable on demand.

AGENT'S COMMISSION 17.1 The SELLER is responsible for payment of the Agent's commission as referred to in Schedule

A. 17.2 The PURCHASER hereby declares that the Estate Agent mentioned in clause 17.1 was the

effective cause of this transaction and should any other Estate Agent or Agents after payment of the commission hereinmentioned lodge a claim against the SELLER, and can prove that they were the effective cause of the sale, then the PURCHASER hereby indemnifies the SELLER against such claim(s) plus all costs in connection therewith.

17.3 Should the AGREEMENT be cancelled as a result of a breach by the PURCHASER, the PURCHASER shall be liable for payment of the commission to the agent.

LIABILITY OF SELLER AND PURCHASER 18.1 If the PURCHASER is more than 1 (ONE) person, then all the persons signing the

AGREEMENT shall jointly, severally and in solidum be liable for the due performance of its obligations in terms of this AGREEMENT and does the PURCHASER hereby renounce all benefits arising from the legal exceptions de duobus vel pluribus reis debendi.

18.2 If this AGREEMENT is made by the PURCHASER in a representative capacity, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance of his principal in terms of this AGREEMENT and does the PURCHASER renounce all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus reis debendi.

18.3 If this AGREEMENT is entered into by the signatory as Trustee for a Company or Close Corporation to be formed or already formed, or on behalf of himself or his nominee, then in that instance the signatory shall in his personal capacity be liable for the due fulfilment of all the obligations of such party in terms of this AGREEMENT; if

18.3.1 the Close Corporation or Company to be formed is not formed before or on the date on which guarantees in terms of this AGREEMENT is to be furnished; or

18.3.2 the Close Corporation or Company is formed, but does not ratify, adopt and accept this AGREEMENT; or

18.3.3 the Close Corporation or Company ratifies, adopts and accepts this AGREEMENT, but does not perform timeously in terms thereof; or

18.3.4 if a Company or Close Corporation which has already been formed and such Company and Close Corporation fail to perform timeously in terms of this AGREEMENT; or

18.3.5 such party nominates another person and the person thus nominated does not accept or does accept the nomination, but fails to perform timeously in terms of this

9


AGREEMENT. ELECTRICAL INSTALLATIONS 19.1 The SELLER shall at his cost obtain the Certificate of Compliance as stipulated in in terms of

the Occupational Health and Safety Act, 1993, read together with the Electrical Installations Regulations, 2009 and will the Certificate of Compliance be handed over to the CONVEYANCERS before or on date of registration of transfer.

19.2 If the electrical installation on the PROPERTY is defective, the SELLER shall at his cost repair the electrical installation in order to deliver the certificate to the CONVEYANCERS.

PHASE DEVELOPMENT 20. The SELLER hereby discloses that the SCHEME will be developed by way of phases as contemplated

in Section 25 of the Act. SUSPENSIVE CONDITIONS 21.1 This sale is subject to the suspensive condition that the PURCHASER obtains a loan for the

amount indicated on Schedule "A" against security of a first mortgage bond over the PROPERTY within 30 (THIRTY) days calculated from the SIGNATURE DATE.

21.2 In terms of the provisions of section 13 of the CPA, the SELLER hereby discloses unto the PURCHASER that the PROPERTY forms part of a sectional title scheme and that:

21.2.1 the SCHEME must be pre-approved with financial institutions in order to expedite the process of approval of finance;

21.2.2 registration of transfer of units must be lodged and registered in phases in the Deeds’ Office.

As the SELLER’s nominated bond originators will apply for pre-approval of the SCHEME with the financial institutions and the CONVEYANCERS will attend to simultaneous registration of transfer of all units within a phase, it will be to the convenience of all purchasers of units within a phase to make use of the services of the SELLER’s nominated bond originators to apply for finance and to make use of the CONVEYANCERS for registration of mortgage bonds on behalf of financial institutions. The PARTIES therefor agree that should the PURCHASER require finance, the PURCHASER shall utilise the SELLER’s nominated Mortgage Originator to apply for such loan and will the PURCHASER provide all financial information that the originator may require in order to lodge the application within 3 (three) days after written request. The PURCHASER undertakes that in the event of the loan being granted to him to accept the loan, notwithstanding the fact that the terms and conditions of such loans may have changed between date of application and date of granting thereof and to ensure that its financial institution provides instructions for registration of the mortgage bond to the SELLER’s nominated conveyancers. After having had sufficient time to consider the matter I/we hereby confirm that I/we have understood and accepted this risk and/or liability.

______________________ PURCHASER to sign here

21.3 The PURCHASER hereby irrevocably and in rem suam authorises the SELLER, in the event of the PURCHASER failing to make the necessary application with the said institution, on his behalf to apply for the loan and to sign the application.

21.4 This AGREEMENT is further subject to the suspensive condition that it shall not come into being until such time as the Municipal Planning Tribunal shall have satisfied itself that the services and amenities that have to be provided in connection with the erf where the PROPERTY is developed in terms of the conditions subject to which the establishment of the township was approved, are available and shall have issued a certificate to that effect and has issued the necessary certificate in terms of the provisions of Section 21(5) and 29(1) of the Mangaung Metropolitan Municipality Municipal Land Use Planning By-law as promulgated in the applicable Provincial Gazette within a period of 12 (Twelve) months after the SIGNATURE DATE. If this suspensive condition is not fulfilled within the aforementioned period, the SELLER shall in its discretion be entitled to extend the period with a further 6 (Six) months by written notice to the PURCHASER (“the extended period”) which notice it will not be necessary to be sent to the PURCHASER prior to expiry of the initial period. If the suspensive condition is not fulfilled within the initial period or the extended period, or such later date as may be agreed to by the PARTIES in writing prior to lapse of the initial period or extended period, this AGREEMENT shall be of no force or effect.

10


21.5 In the event of non-compliance with the aforementioned suspensive condition by the said date then the SELLER or the PURCHASER will have the right to cancel this AGREEMENT giving written notice to the other party at his domicilium citandi et executandi in which event the PARTIES shall be reinstated in the status quo ante hereto, subject, however, to the liability of the PURCHASER for the payment of occupation interest and expenses as provided in clauses 6 and 7 of this AGREEMENT (if any).

72 HOUR CLAUSE 22. Whereas the sale is subject to the suspensive conditions as set out in clause 21 of this AGREEMENT,

the SELLER and PURCHASER agree that, pending fulfillment, the SELLER shall be entitled to continue to market the PROPERTY, and should prior to the fulfillment conditions, a bona fide contract be concluded (herein referred to as "the competing contract") for the PROPERTY be received which is acceptable to the SELLER in his sole discretion, the following shall apply:

22.1 A notice of the competing contract shall be delivered to the PURCHASER, who shall be given 72 (SEVENTY TWO) hours excluding Saturdays, Sundays and public holidays from delivery, to waive the conditions mentioned in clause 21 above, by written notice delivered timeously to the Agent or the SELLER. For such notice to be valid, it shall contain proof that the full purchase price is secured by means of a bank guarantee.

22.2 Should the PURCHASER not timeously waive the condition aforesaid, the SELLER shall be entitled to accept the competing offer and on acceptance thereof, this AGREEMENT between SELLER and PURCHASER shall thereupon immediately and automatically be of no further force or effect.

SPECIAL CONDITIONS 23. _______________________________________________________________________________

_______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ IRREVOCABLE AGREEMENT 24. If this AGREEMENT is signed by one PARTY only, this document will be construed as an OFFER to

the other PARTY which will not be withdrawn but must be accepted before 12:00 on the 5th DAY calculated from the date of signature of this document by the PURCHASER by signing this document and handing same to the CONVEYANCERS on or before the said time and date.

SIGNED at _________________________ on this _____ day of __________________________ 201____ AS WITNESSES: 1. ________________________ _________________________ 2. ________________________ _________________________ SELLER SIGNED at _________________________ on this _____ day of __________________________ 201____ AS WITNESSES: 1. ______________________ _________________________ 2. ______________________ _________________________ PURCHASER

9

ANNEXURE 1A

PURCHASERS INFORMATION FOR TRANSFER / LOAN APPLICATION PURPOSES

PURCHASER JOINT PURCHASER

SURNAME

FIRST NAMES

MAIDEN NAMES

SPOUSE’S NAME

MARITAL STATUS

(MICP / ANC)

IDENTITY NUMBERS

PLACE OF BIRTH

CELLULAR PHONE

RES PHONE

BUS. PHONE

EMAIL ADDRESS

OCCUPATION

EMPLOYED BY

PRESENT POSTAL ADDRESS

TAX NUMBER/S

PURCHASER’S GROSS MONTHLY INCOME R

JOINT PURCHASER’S GROSS MONTHLY INCOME R

TOTAL COMBINED INCOME R

F.I.C.A. PROOF OF IDENTIFICATION AND PROOF OF RESIDENCE ATTACHED HERETO – PLEASE TICK APPLICABLE BOX

ID DOCUMENT PROOF OF RESIDENCE ID DOCUMENT PROOF OF RESIDENCE

PURCHASER

JOINT PURCHASER

Huizemark Sales Representative / Verification Officer: ______________________________ Compliance Officer: ____________________________

Fidelity Fund Certificate No:______________________________ Income Tax No: ____________________________________

Date: __________________________________________

THE ABOVE INFORMATION IS HEREBY CERTIFIED TO BE CORRECT

deed of sale: danso business trustspitskopliving.co.za/wp...of-sale-1707-duett.pdf · deed of sale:...

Documents