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Special conditions - town land |
This is the annexure of special conditions to the Contract for sale between: WILLIAM JOHN VENDOR and MARY JANE VENDOR (as Vendor) and: PETER ROBERT PURCHASER and PAULINE RHONDA PURCHASER (as Purchaser) DATED this day of , 1996 1. Subject to Finance This Contract is subject to the Purchaser obtaining approval of suitable finance to enable completion of this purchase such approval to be obtained within 14 days from the date of this Contract. If approval is not obtained then either party may rescind this Contract within 7 days thereafter and the provisions of Clause 19 shall apply except for the sum of 0.25 % of the price which shall be accounted by the depositholder to the Vendor and retained by the Vendor for legal costs and disbursements. 2. Mental Illness or Death of Parties Should the Vendor or the Purchaser (or in either case if more than one, any of them) die or be declared mentally ill prior to completion of this Contract then the other party may rescind this Contract and the provisions of Clause 19 shall apply. 3. Adjustment of Water Charges In relation to the adjustment for water charges for the purpose of Clause 14 an adjustment shall also be made for water charges as follows:- (a) The amounts and figures for water consumption furnished by the rating authority, whether estimated or provisional, shall be conclusive for the purposes of apportionment and adjustment. (b) the adjustment shall take into account an estimate of the water consumption to the date of completion. (c) the adjustment shall apportion the amount of the annual water usage allowed by the rating authority. (d) the adjustment shall take into account the increased charges that will be borne by the Purchaser should the amount of the annual water usage allowed by the rating authority have been exceeded by the Vendor. 4. Time Period for Notice to Complete It is agreed between the parties that in circumstances justifying the issue of a Notice to Complete or Notice to Perform 14 days shall be deemed to be reasonable and sufficient notice for that purpose. 5. Building Certificate - Clause 13 If the Vendor is unable or unwilling to comply with any requisition made by the Purchaser pursuant to Clause 13 requiring the Vendor to comply with a notice from council, remedy any reason given for not issuing a building certificate or do the work to be done before a building certificate will issue the Purchaser may rescind this Contract within the provisions of Clause 19 and shall not be entitled to claim any damages, compensation, costs or expenses. 6. Mediation If a dispute arises out of or relates to this contract, or the breach, termination, validity or subject matter of this contract, and if the dispute cannot be settled by direct discussions between the parties within seven (7) days of the dispute first arising, the parties must attempt to settle the dispute by mediation before resorting to arbitration, litigation or some other dispute resolution procedure. The mediator shall be agreed upon by the parties, but if the parties are unable to agree, then the President for the time being of the Law Society of New South Wales shall appoint a mediator.
