THIS AGREEMENT is made the 2015 BETWEEN

Transcription

1 THIS AGREEMENT is made the 2015 BETWEEN (1) the Seller whose name and address is set out in the Schedule hereto ("the Seller") and (2) the person or persons whose name or names and address or addresses are set out in the Schedule hereto ("the Buyer") WHEREBY IT IS AGREED as follows:- 1. INTERPRETATION 1.1 In this Agreement the following words expressions and descriptions shall have the meanings hereby assigned to them unless the context otherwise requires "the Apartment" means the apartment on the Estate and shall where the context so admits or requires include such fixtures thereto and fittings therein as are included in the sale and purchase hereunder "the Assurance" means the form of specimen lease of the Apartment supplied by the Seller's Solicitors to the Buyer's Solicitors and already approved by the Buyer (a copy of which is annexed hereto) and which shall be deemed to be incorporated herein "the Buyer's means the firm of solicitors acting for the Buyer Solicitors" specified in the Schedule hereto or such other firm of solicitors as shall from time to time be acting for the Buyer as shall be notified by the Buyer to the Seller "the Completion Date" the date specified in the Schedule hereto or earlier by agreement "the Estate" means the property registered at the Land Registry with title number MS the Engrossment Fee plus VAT "the General Conditions" means the Standard Conditions of Sale (Fifth Edition) 1

2 1.1.8 the Occupational Lease means the assured Shorthold tenancy agreement referred to in the Schedule, if any "the Purchase Price" means the price specified in the Schedule hereto the Search Cost means a contribution of towards the Seller s costs in procuring and providing local searches "the Seller's means the firm of solicitors acting for the Seller Solicitors" specified in the Schedule hereto or such other firm of solicitors as shall from time to time be acting for the Seller as shall be notified by the Seller to the Buyer "the Tenure" means the tenure specified in the Schedule hereto 1.2 References to a clause are (unless the context otherwise requires) to a clause of this Agreement and references to a paragraph are (unless the context otherwise requires) to a paragraph of a Schedule to this Agreement 1.3 Words importing the singular meaning (where the context so admits) include the plural meaning and vice versa and words of the masculine gender include the feminine and neuter genders and words denoting natural persons include corporations and firms and all such words shall be construed interchangeably in that manner 1.4 The clause and paragraph headings in this Agreement and the Schedules hereto are for convenience only and do not affect its interpretation 1.5 If the Buyer shall be more than one person then all the obligations of the Buyer to the Seller hereunder shall be deemed to be joint and several and the Assurance shall be amended so that the covenants on the part of the Buyer therein contained shall be expressed to be given jointly and severally 2. SALE AND PURCHASE OF THE PROPERTY 2.1 The Seller will sell and the Buyer will purchase the Apartment for the Tenure at the Purchase Price in accordance with the terms and conditions hereinafter contained 3. PAYMENT OF PURCHASE PRICE AND TAXES 3.1 The Buyer shall pay to the Seller's Solicitors as agents for the Seller on or before the execution of this Agreement ten per centum of the Purchase Price or such other sum as shall be agreed by the Seller by way of deposit 2

3 3.2 The balance of the Purchase Price the Engrossment Fee and the Search Cost (together with all other monies due to the Seller as herein provided) shall be paid by the Buyer to the Seller upon the Completion Date 3.3 If the deposit actually paid on the exchange of contracts shall be less than ten per centum of the Purchase Price then notwithstanding the payment of a lesser amount by way of deposit the balance of the ten per cent deposit shall at all times remain due to the Seller and in the event of the rescission of this Agreement or failure to complete due to any act neglect or default of the Buyer the payment of such balance shall be a legal liability of the Buyer to the Seller 3.4 The Buyer shall pay the monies due on completion to the Seller's Solicitors' Bank or (upon the written direction of the Seller's Solicitors) to the Seller's Bank by CHAPS or telegraphic transfer unless otherwise agreed with the Seller's Solicitors 4. COMPLETION OF THE SALE AND PURCHASE OF THE PROPERTY 4.1 The sale and purchase of the Apartment and the Assurance shall be completed on the Completion Date at the offices of the Seller's Solicitors or if the Seller shall require at the offices of the Solicitors of its mortgagee 4.2 Vacant possession of the Apartment shall be given by the Seller to the Buyer upon completion of the sale and purchase of the Apartment except in relation to the Apartment which are subject to the Occupational Lease 5. TITLE 5.1 The title to the Apartment having been deduced by the Seller to the Buyer prior to the date hereof the same shall be accepted by the Buyer without requisition enquiry or objection except that this shall not preclude the Buyer from raising any requisitions enquiries or objections arising out of its pre-completion searches in the Land Registry 5.2 The Seller will transfer the Apartment with full title guarantee 5.3 The Seller will procure that the Apartment shall be released from any mortgage or charge created by the Seller that affects the Apartment 5.4 The covenant implied by Section 2(1)(b) of the Law of Property (Miscellaneous Provisions) Act 1994 ("the Act") shall be amended by substituting the words "at the disponee's cost" for the words "at his own cost" 3

4 5.4 The covenant implied by Section 3(1) of the Act shall not apply to rights granted by the Seller to other buyers on the Estate which affect the Apartment and in similar form to those set out in the Assurance and shall apply only to charges incumbrances or other rights exercisable by third parties created by or in the actual knowledge of the Transferring Party 5.5 For the purposes of Section 6(2)(a) of the Act all matters now recorded in Registers open to public inspection (including the Registers at the Land Registry) and all information ascertainable from the documents provided to the Buyer's Solicitors are deemed to be within the actual knowledge of the Buyer notwithstanding the provisions of Section 6(3) of the Act 5.6 The Apartment are sold subject to (a) all rights of light air drainage way water and other like easements privileges liberties and quasi-easements exercisable over or in respect of the Apartment (b) all matters disclosed in the replies by the Seller's Solicitors to preliminary enquiries raised by the Buyer's Solicitors or in any general information sheet furnished by the Seller's Solicitors to the Buyer's Solicitors and (c) all matters which would be revealed in replies to the usual enquiries of a Local Authority and all the matters referred to in this sub-clause shall be deemed to be within the actual knowledge of the Buyer 5.7 The Seller knows of no overriding interests other than those apparent from an inspection of the Apartment or from the usual searches and enquiries or from any documents supplied by the Seller or on its behalf and those specified or referred to in this Agreement but (subject as aforesaid) the Apartment are sold subject to all overriding interests. This condition shall take effect without prejudice to the provisions of the General Conditions 6. MATTERS SUBJECT TO WHICH THE PROPERTY IS SOLD The Apartment is sold subject to:- 6.1 The exceptions reservations agreements declarations rights covenants and other matters (other than charges to secure money) referred to in the Property and Charges Registers of the title under which the Apartment are registered and the assurance of the Estate to the Seller or (if unregistered) as disclosed in the abstract of title supplied to the Buyer (other than charges to secure money) 6.2 All easements rights privileges covenants conditions provisions agreements and declarations contained mentioned or referred to in the Assurance but with the benefit of the rights thereby granted 6.3 The Occupational Lease 4

5 7. THE ASSURANCE 7.1 The sale and purchase of the Apartment shall be effected by the Assurance 8. INSURANCE 8.1 The Seller shall keep the Apartment insured to the full value thereof against loss or damage by all normally insurable risks 9. GENERAL CLAUSES 9.1 Copies of or extracts from the documents referred to in this Agreement having been made available to the Buyer or the Buyer's Solicitors before the signing hereof the Buyer shall be deemed to purchase with full knowledge and notice of the contents of such copies or extracts and shall not raise any objection requisition or enquiry in respect thereof 9.2 All the terms of the agreement between the parties are fully set out in this Agreement and may only be varied (whether by way of collateral contract or otherwise) in writing under the hands of the parties or their Solicitors with authority 9.3 The Buyer acknowledges that he has entered into this Agreement as a result of searches enquiries and inspections made by him or on his behalf and that with the exception of: the replies by the Seller's Solicitors to preliminary enquiries raised by the Buyer's Solicitors or in any general information sheet furnished by the Seller's Solicitors to the Buyer's Solicitors to the extent that they are not capable of independent verification from any competent authority or statutory body any statement or representation upon which prior to entering into this Agreement the Seller has acknowledged in writing that the Buyer can rely he has placed no reliance on any statement representation or warranty whether made orally or contained in any advertisement or other matter issued by the Seller or on its behalf 9.4 No such statement representation or warranty shall be deemed to be a term or condition of this Agreement or of any separate agreement nor except as set out in Clause and will it amount to a warranty or representation inducing the Buyer to enter into this Agreement 10. GENERAL CONDITIONS 10.1 The Apartment are sold subject to the General Conditions so far as the same are applicable to a sale by private treaty and are not varied by or inconsistent with the conditions herein contained except that:- 5

6 in condition 1.1.1(e) the contract rate shall be 4 per centum over the base rate (or its successor) of The Royal Bank of Scotland PLC from time to time in force in condition 1.1.1(m) working days shall not include such days of which written notice has been given by the Seller's Solicitors to the Buyer's Solicitors that the Seller's Solicitors office shall be closed on such days in condition 1.1.1(l) there shall be added the words "and lease" conditions 4.1 and 4.2 shall not apply conditions and 5.1 shall not apply in condition there shall be added the following sub clause "(i) accepts the risk of the Apartment until completion" in condition the words "Completion date is twenty working days after the date of the contract but" shall be deleted conditions 6.2 and 6.7 shall not apply in condition 7.2 and the word "without" shall be substituted for the words "with accrued" conditions and 8.3 shall not apply 11. NON-ASSIGNMENT 11.1 The Buyer will not assign or part with its interest under this Agreement 11.2 Save as expressly provided none of the provisions of this Agreement are intended to or will operate to confer any benefit (pursuant to the Contracts (Rights of Third Parties) Act 1999) on a person who is not named as a party to this Agreement 12. NON-MERGER 12.1 Notwithstanding the completion of the Assurance this Agreement will remain in full force and effect with regard to anything remaining to be done performed or observed hereunder and not provided for in the Assurance AS WITNESS the hand of a duly authorised representative on behalf of the Seller and the hand of the Buyer the day and year first before written 6

7 THE SCHEDULE The Seller Equity Track Limited of James House, 40 Lagland Street Poole Dorset BH15 1QG The Buyer The Apartment Apartment [ ] Summerdale Court, 13 St Agnes Road, Huyton, Liverpool L36 5AH shown edged red on the plan annexed hereto The Purchase Price The Occupational Lease None Tenure Leasehold for a term of 125 years from1 January 2015 at an annual ground rent of per Apartment The Seller's Solicitors Abacus Solicitors, Reedham House King Street West Manchester M3 2PN The Buyer's Solicitors Lockings Solicitors St Mary's Court Lowgate Hull HU1 1YG The Completion Date 7

8 Signed on behalf of the Seller Signed by the Buyer 8