CONTRACT FOR SALE OF LAND OR STRATA TITLE BY OFFER AND ACCEPTANCE

Transcription

1 TO: CONTRACT FOR SALE OF LAND OR STRATA TITLE BY OFFER AND ACCEPTANCE NOTICE: Contracts must be lodged with the Office of State Revenue for duty assessment within two (2) months of the date the last person executes the Contract. 02/ APPROVED BY THE REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA (INC.) COPYRIGHT REIWA 2011 FOR USE BY REIWA MEMBERS Buy-Sell-Rent Pty Ltd Trading as Scoop Property 5 Norfolk Street, Fremantle WA 6160 Phone: Facsimile: Licensee: Buy-Sell-Rent Pty Ltd admin@scoopproperty.com.au Conjunction Agent Sales Person Contact No Conjunction Rate As Agent for the Seller / Buyer THE BUYER (FULL NAME AND ADDRESS) OFFERS TO PURCHASE (as joint tenants/tenants in common specifying the undivided shares) the Land and Property Chattels set out in the Schedule ( the Property ) with vacant possession unless stated otherwise in the Special Conditions at the Purchase Price on the terms set out in the Schedule, the Conditions and the Special Conditions. The Property at:... Proposed Lot Ocean Hill Estate, LAKELANDS WA 6180 Lot... Deposited/Survey/Strata/Diagram/Plan...Whole/Part Vol...Folio... A deposit of $...of which $....is paid now and $... to be paid within...days of acceptance to be held by... Scoop Property REBA Trust A/C TC ("the Deposit Holder"). The balance of the Purchase Price to be paid on the Settlement Date. FINANCE CLAUSE IS APPLICABLE SCHEDULE Purchase Price... Settlement Date... On or before 21 days from finance approval or issue of title, whichever is the latter Property Chattels including... Vacant Land... LENDER... LATEST TIME: 4pm on:... AMOUNT OF LOAN:... SIGNATURE OF BUYER SPECIAL CONDITIONS FINANCE CLAUSE IS NOT APPLICABLE Signature of the Buyer if Finance Clause IS NOT applicable ) Annexure A Forms Part of this contract... 2) Annexure B Forms Part of this contract... 3) Annexure C Forms Part of this contract... 4) Annexure D Forms Part of this contract... 5) Annexure E Forms Part of this contract... 6) Annexure F Forms Part of this contract NOTE: IF THIS DOCUMENT IS ON SEPARATE PAGES OR IS TO BE FAXED THEN ALL PARTIES SHOULD SIGN ALL PAGES.

2 CONTRACT FOR SALE OF LAND OR STRATA TITLE BY OFFER AND ACCEPTANCE 02/ CONDITIONS 1. SUBJECT TO FINANCE If the Buyer signs the "Finance Clause is not Applicable" box in the Schedule then this clause 1 does not apply to the Contract. If any information is completed in or the Buyer signs the "Finance Clause is Applicable" box in the Schedule then this clause 1 applies to the Contract. 1.1 Buyer's Obligation to Apply for Finance and Give Notice to the Seller The Buyer must: (1) immediately after the Contract Date make an application for Finance Approval to the Lender using, if required by the Lender, the Property as security; and (2) use all best endeavours in good faith to obtain Finance Approval. If the Buyer does not comply with clause 1.1 or 1.1(1) then the Contract will not come to an end under clause 1.2 and the Buyer may not terminate the Contract under clause 1.3. The rights of the Seller under this Clause 1.1 will not be affected if the Buyer does not comply with Clause 1.1. The Buyer must immediately give to the Seller or Seller Agent: (1) an Approval Notice if the Buyer obtains Finance Approval; or (2) a Non Approval Notice if Finance Approval is rejected at any time while the Contract is in force and effect. 1.2 No Finance Approval by the Latest Time: Non Approval Notice Given This Contract will come to an end without further action by either Party if on or before the Latest Time: written Finance Approval has not been obtained; and the Buyer gives a Non Approval Notice to the Seller or Seller Agent. 1.3 No Finance Approval by the Latest Time: No Notice Given If by the Latest Time: the Buyer has not given an Approval Notice to the Seller or Seller Agent; and the Buyer has not given a Non Approval Notice to the Seller or Seller Agent; then this Contract will be in full force and effect unless and until either the Seller gives written Notice of termination to the Buyer or the Buyer terminates this Contract by giving a Non- Approval Notice to the Seller or Seller Agent. 1.4 Finance Approval: Approval Notice Given If by the Latest Time, or if clause 1.5 applies, before the Contract is terminated: written Finance Approval has been obtained; and the Buyer has given an Approval Notice to the Seller or Seller Agent; then this Clause 1 is satisfied and this Contract is in full force and effect. 1.5 Notice Not Given by Latest Time: Seller's Right to Terminate If by the Latest Time the Buyer has not given an Approval Notice or a Non Approval Notice to the Seller or Seller Agent then at any time until an Approval Notice is given, the Seller may terminate this Contract by written Notice to the Buyer. 1.6 Buyer Must Keep Seller Informed: Evidence If requested in writing by the Seller or Seller Agent the Buyer must advise the Seller or Seller Agent of: (1) the progress of the Finance Application; and (2) provide evidence in writing of the making of a Finance Application, in accordance with clause 1.1 and of any loan offer made, or any rejection; and (3) if applicable the reasons for the Buyer not accepting any loan offer. If the Buyer does not comply with the request within 2 Business Days then the Buyer authorises the Seller or Seller Agent to obtain from the Lender the information referred to in Acceptance of this offer will be sufficiently communicated to the Buyer if verbal or written notification is given by the Seller or Seller s Agent to the Buyer that the acceptance has been signed by the Seller. 3. The 2011 General Conditions are incorporated into this Contract so far as they are not varied by or inconsistent with the Conditions or Special Conditions of this Contract. 4. If GST is applicable to this transaction then the relevant GST provision should be outlined in the Special Conditions or in an attached GST Annexure, which forms part of this Contract. BUYER [If a corporation, then the Buyer executes this Contract pursuant to s.127 of the Corporations Act.] Witness /.../ /.../... THE SELLER (FULL NAME AND ADDRESS) ACCEPTS the Buyer's offer CP Land Pty Ltd C/- Urban Capital Group... PO Box 477 Applecross WA 6959 [If a corporation, then the Seller executes this Contract pursuant to s.127 of the Corporations Act.] Witness Date /.../ /.../... JOINT FORM A true copy of this document has been received by each of the Parties - together with a copy of the 2011 General Conditions STRATA DISCLOSURES If the Property is a Strata Lot, then the Buyer acknowledges having received the Form 28 Disclosure Statement before signing this Contract CONVEYANCER The Parties nominate their Representative below to act on their behalf and consent to Notices being served to that Representative's facsimile number. BUYER'S REPRESENTATIVE 1.7 Right To Terminate If a Party has the right to terminate under this Clause 1, then: termination must be effected by written Notice to the other Party; Clauses 23 and 24 of the 2011 General Conditions do not apply to the right to terminate; upon termination the Deposit and any other monies paid by the Buyer must be repaid to the Buyer; (d) upon termination neither Party will have any action or claim against the other for breach of this Contract, except for a breach of clause 1.1 by the Buyer. 1.8 Waiver The Buyer may waive this Clause 1 by giving written Notice to the Seller or Seller Agent at any time before the Latest Time, or if clause 1.5 applies, before the Contract is terminated. If waived this clause is deemed satisfied. 1.9 Definitions In this Clause: Amount of Loan means either the amount referred to in the Schedule or any lesser amount of finance referred to in the Finance Application. If the amount referred to in the Schedule is blank, then the amount will be an amount equivalent to the Purchase Price. Approval Notice means a Notice in writing given by the Buyer or the Lender to the Seller, or Seller Agent to the effect that Finance Approval has been obtained. Finance Application means an application made by or on behalf of the Buyer to the Lender to lend any monies payable under the Contract. Finance Approval means: a written approval by the Lender of the Finance Application or a written offer to lend or a written notification of an intention to offer to lend made by the Lender; and SELLER'S REPRESENTATIVE Wescott Conveyancing Name Signature COPYRIGHT The copyright of this Contract by Offer and Acceptance is the property of the Real Estate Institute of Western Australia (Inc.) ("REIWA") and neither the form nor any part of it may be used or reproduced by any method whatsoever or incorporated by reference or in any manner whatsoever in any other document without the consent of the REIWA. 02/11 for the Amount of Loan; and which is unconditional or subject to terms and conditions: (1) which are the Lender's usual terms and conditions for finance of a nature similar to that applied for by the Buyer; or (2) which the Buyer has accepted by written communication to the Lender, but a condition which is in the sole control of the Buyer to satisfy will be treated as having been accepted for the purposes of this definition; or (3) which, if the condition is other than as referred to in paragraphs (1) and (2) above includes: an acceptable valuation of any property; (ii) attaining a particular loan to value ratio; (iii) the sale of another property; or (iv) the obtaining of mortgage insurance; and has in fact been satisfied. Latest Time means: the time and date referred to in the Schedule; or if no date is nominated in the Schedule, then Business Days after the Contract Date. Lender means: the lender or mortgage broker nominated in the Schedule; or if the Buyer makes a finance application to, or if no lender is nominated in the Schedule then, any bank, building society, credit union or other institution which makes loans and in each case is carrying on business in Western Australia or a mortgage broker carrying on business in Western Australia. Non Approval Notice means a Notice in writing given by the Buyer or the Lender to the Seller, or Seller Agent to the effect that Finance Approval has been rejected or has not been obtained. Date

3

4 STAGE 1 ANNEXURE A PLAN

5 10 LAND USE / STATISTICS STAGE 1 WAPC Ref:- NOT ISSUED PARCEL TYPE MAP SYMBOL NUMBER OF PARCELS AREA (ha) Traditional Lots Cottage Lots * Quality Management AS/NZS Occupational Health and Safety Management ISO 4801:2001 ROAD Public Open Space P.O.S Roads (inc. truncations) STAGE TOTAL LAND USE / STATISTICS EDUCATION PRECINCT WAPC Ref:- NOT ISSUED PARCEL TYPE MAP SYMBOL NUMBER OF PARCELS AREA (ha) Education Facility EDUCATION ALVERSTONE Public Open Space P.O.S STAGE TOTAL (18m) 10 BOULEVARD ALVERSTONE (18m) BOULEVARD ALVERSTONE BOULEVARD EDUCATION (m) STREET (13m) (6m) (13m) SEYMOUR ROAD (m) NIRVANA ROAD (m) BALDWIN STREET (m) (18m) ha P.O.S. AND DRAINAGE (14.135m) ha EDUCATION (m) ROAD (13m) * * * * * * * MANDURAH P.O.S. AND DRAINAGE PICTON ROAD BADGERUP AVENUE LANGLEY PICTON TATE CASCADE LANE ROAD (18m) ROAD CASCADE m² 2m² 2m² 2m² 2m² 2m² 247m² EDUCATION PRECINCT ha m² m² m² m² m² 313m² m² 3 313m² m² m² 4 313m² m² m² 5 313m² m² 6 313m² m² m² 7 313m² m² m² m² m² m² m² m² m² STAGE m² m² m² m² 42 7m² m² m² m² m² m² m² AVENUE BADGERUP 20 SCALE 1 : A1-1 : A ALL DISTANCES ARE IN METRES For a true to scale reproduction of this plan, plot it to A1 with the Paging Scaling set to None. PLANNER'S DESIGN SOURCE for Rev C Planner :- Creative Received date:- 13/09/2016 File name: UCGNL-1-026C Display Village Plan.pdf ENGINEER'S DESIGN SOURCE for Rev B Engineer :- JDSI Received date:- 05/05/2016 Data purpose:- XCADASTRE_JDS dwg All areas and dimensions depicted on this plan are subject to survey and Landgate registration. All cadastral information external to the stage/s which form the subject of this plan are not guaranteed and are supplied as a guide only. OCEAN HILLS PRIVATE ESTATE STAGE 1 & EDUCATION PRECINCT Lakelands North C Amend cad for lots 2-10 LNL /09/2016 TAV The contents of this plan are current FILES PRECAL LEGEND MC MULLEN NOLAN GROUP Tel: (08) CLIENT: Project Mngr. Trevor Veen Datum PCG94 Add the approved road names and add street light widening in lot 42 ER 06/05/2016 TAV and correct as of the date stated within See below Lot Stats table for further information Level 1, 2 Sabre Crescent Fax: (08) the revision panel. All consultants and mapcogo:- Plan006 and padmount sites in lots 8001 & Primary School lot 600 Stage Boundary Jandakot, W.A info@ mngsurvey.com.au persons wishing to utilise this data should Control Register: PO Box 3526, Success A Initial Issue ER 10/06/20 TAV satisfy themselves of this plans currency Vehicle Access Restriction W.A. 6964, Australia ABN C File Name: pr-006c.dgn by contacting the McMullen Nolan Group. Offices in: Broome, Bunbury, Kununurra, Newman, Onslow, Port Hedland Job Plan Version Ver. Description Drawn Date Checked Number Number B

6

7 STAGE 1 ANNEXURE B SPECIAL CONDITIONS 1. DEFINITIONS 1.1 Definitions In this Contract, unless the context otherwise requires: (d) (e) (f) (g) Contract means the REIWA offer and acceptance form to which this annexure is attached, all annexures attached thereto and the 2011 General Conditions; Estate means the development being carried out by the Seller and known as Ocean Hill Private Estate of which the Property forms part; Objection means any objection, requisition, claim for compensation, withholding all or part of the Purchase Price, refusing to complete Settlement or delaying Settlement; Plan means the draft plan detailing the Property contained in annexure A of this Contract; Special Conditions means the special conditions contained in this annexure B and Special Condition shall have a corresponding meaning; terms that are defined in the 2011 General Conditions shall have the same meaning when used as defined terms; and terms that are defined in the REIWA offer and acceptance form to which this annexure is attached shall have the same meaning when used as defined terms. 2. THE 2011 GENERAL CONDITIONS 2.1 Amendments to the 2011 General Conditions The 2011 General Conditions form part of this Contract except that: (d) (e) for the purpose of clause 3.2 of the 2011 General Conditions, the reasonable time before the Settlement Date referred to shall be at least five (5) Business Days (excluding the day on which the Seller receives the Transfer and the day of Settlement); clauses 9, 10, 11 and 12 of the 2011 General Conditions do not form part of this Contract; if clause 13.2(2) of the 2011 General Conditions has not been satisfied prior to the Contract Date then the time period referred to in clause 13.2(2) of the 2011 General Conditions shall be altered to twelve (12) months; if clause 13.3(1) of the 2011 General Conditions has not been satisfied prior to the Contract Date then the time period referred to in clause 13.3(1) of the 2011 General Conditions shall be altered to twenty four (24) months; if clause 13.3(2) of the 2011 General Conditions has not been satisfied prior to the Contract Date then the time period referred to in clause 13.3(2) of the 2011 General Conditions shall be altered to six (6) months;

8 (f) (g) clauses 13.4 and 13.4(d) of the 2011 General Conditions do not form part of this Contract; clause 13.5 of the 2011 General Conditions is deleted and replaced with the following: If the Planning Commission grants approval for the subdivision of the Lot from the Original Land subject to a condition or requirement with which the Seller is unwilling to comply or which the Seller considers to be prejudicial, the Seller may elect by Notice to the Buyer to terminate the Contract. (h) (j) clauses 13.5(d) and 13.5(e) of the 2011 General Conditions do not form part of this Contract; clause of the 2011 General Conditions does not form part of this Contract; and clause of the 2011 General Conditions does not form part of this Contract. 2.2 Inconsistency 2.3 GST These Special Conditions shall override the 2011 General Conditions to the extent of any inconsistency. For the purposes of clause 4 of this Contract (as set out on the REIWA offer and acceptance form that is part of this Contract) and clause 18.2 of the 2011 General Conditions, the Parties acknowledge that the Purchase Price was negotiated on the basis that it includes GST with that GST being calculated on the basis that the Seller has elected to apply the Margin Scheme. 2.4 Land Tax - Notice Pursuant to clause 7.4 of the 2011 General Conditions, the Seller hereby notifies the Buyer that: the Seller is the registered proprietor of land other than the Land the subject of this Contract; and both the Land the subject of this Contract and the other land owned by the Seller are liable for Land Tax. 2.5 Land Tax Bulk Assessment The Buyer acknowledges that it is aware that the Seller owns land other than the Land the subject of this Contract and, as a consequence, receives a bulk assessment for Land Tax from the Office of State Revenue in respect of all the land owned by the Seller. On this basis, the Buyer agrees that, irrespective of any provision of the 2011 General Conditions (including but not limited to clause 7.2) the Seller is not required to pay an entire bulk assessment for Land Tax prior to Settlement irrespective of whether or not that bulk assessment relates in part to the Property and the Buyer may not make any Objection in relation to the subject matter of this Special Condition 2.5. The Seller undertakes to the Buyer to pay to the Office of State Revenue all amounts owing by the Seller pursuant to any bulk assessment for Land Tax it receives that relates in part to the Property in accordance with the terms of that bulk assessment or otherwise in accordance with an agreement in place between the Seller and the Office of State Revenue and further indemnifies the Buyer from any liability in that regard. Nothing in this Special Condition 2.5, effects the Buyer s obligation to pay to the Seller at Settlement the Buyer s portion of Land Tax that the Seller is liable for pursuant to the 2011 General Conditions. 3. ENCUMBRANCES 3.1 Section 136D Restrictive Covenant The Buyer is hereby notified and the Buyer acknowledges that: the Property will be subject to the deed of restrictive covenant contained in annexure C of this Contract. The deed of restrictive covenant will be registered on the Property s Certificate of Title prior to Settlement pursuant to section 136D of the Transfer of Land Act 1893 (WA) and accordingly the deed of restrictive covenant is a Specified Encumbrance for the purpose of the 2011 General Conditions;

9 whilst the deed of restrictive covenant which shall be registered on the Certificate of Title for the Property shall generally be in accordance with the restrictive covenant contained in annexure C, the deed of restrictive covenant contained in annexure C is a draft version only and as such it may be necessary or the Seller may consider it preferable to change or vary the deed of restrictive covenant and the Buyer is not entitled to make any Objection in relation to any such change or variation provided the change does not materially prejudice the Buyer; and it has made its own enquiries about the effect the deed of restrictive covenant detailed in Special Condition 3.1 will have on the Buyer s use and enjoyment of the Property and is satisfied with the same. 3.2 Local Development Plan The Buyer acknowledges that: it has received the local development plan contained in annexure F; (d) the Certificate of Title for the Property may be encumbered by a notification registered pursuant to section 70A of the Transfer of Land Act 1893 (WA) which notifies the registered proprietor of the local development plan; whilst the local development plan shall be generally in accordance with the local development plan contained in annexure F the Buyer acknowledges that the local development plan included in annexure F is a draft version only and as such it may be necessary or the Seller may consider it preferable to change or vary the local development plan and the Buyer is not entitled to make any Objection in relation to any such change or variation provided it does not materially prejudice the Buyer; and it has made its own enquiries about the effect the local development plan the subject of this clause 3.2 will have on the Buyer s use and enjoyment of the Property and is satisfied with the same. 3.3 Mosquito Breeding Area The Buyer acknowledges that: the Certificate of Title for the Property will be encumbered by a notification registered pursuant to section 165 of the Planning and Development Act 2005 (WA) which will state as follows: This lot is in close proximity to known mosquito breeding areas. The predominant mosquito species is known to carry viruses and other diseases whilst the wording of the notification shall be generally in accordance with the clause 3.3 above the Buyer acknowledges that the wording above is a draft version only and as such it may be necessary to change or vary the wording and the Buyer is not entitled to make any Objection in relation to any such change or variation provided it does not materially prejudice the Buyer; and it has made its own enquiries about the effect the notification the subject of this clause 3.3 will have on the Buyer s use and enjoyment of the Property and is satisfied with the same. 3.4 Further Encumbrances In addition to the encumbrances noted above, the Buyer acknowledges that, provided they do not materially prejudice the Buyer, the Property is sold subject to the following Encumbrances which are Specified Encumbrances for the purposes of the 2011 General Conditions: all Encumbrances including but not limited to all easements, notifications, memorials and restrictive covenants noted on the Subdivision Plan prior to Settlement; and any other Encumbrance including but not limited to any easements, positive covenants, restrictive covenants, notifications and memorials which are not specified in this Contract but which may be required by an Authority as a condition of subdivision or otherwise including but not limited to the following: any notification registered against the Certificate of Title for the Property pursuant to section 70A of the Transfer of Land Act 1893 (WA);

10 (ii) (iii) (iv) any restrictive covenant registered against the Certificate of Title for the Property pursuant to sections 129BA and 136D of the Transfer of Land Act 1893 (WA); any covenant registered against the Certificate of Title for the Property pursuant to section 0 of the Planning and Development Act 2005 (WA); and any notification registered against the Certificate of Title for the Property pursuant to section 165 of the Planning and Development Act 2005 (WA). 3.5 No Objections The Buyer may not make any Objection in relation to any of the matters the Buyer acknowledges in this Special Condition RETAINING WALLS AND FENCING 4.1 Positioning of Retaining Walls and Boundary Fencing The Buyer acknowledges that it is aware that: if the finished level of the Property is different than the level of a neighbouring lot such that lateral support is required, the Seller will construct a limestone retaining wall along any such boundary or at least part thereof as is necessary; the Seller will construct any retaining wall required in accordance with Special Condition 4.1 wholly within the higher of the two adjacent lots; and boundary fencing, when constructed on a boundary that has been retained, will be constructed on the centreline of the retaining wall (such line to be projected for the length of the boundary, even if the retaining wall does not run the entire length of the boundary) and consequently, the owner of the higher lot will not have access to a portion of their lot. 4.2 Release re: Separated Land If the Buyer cannot access a part of the Property as a result of the issues the subject of Special Condition 4.1, the Buyer acknowledges that it was aware of those issues prior to entering into this Contract and hereby waives any and all claims that it may have against the Seller in relation to any land that is part of the Property but separated from the Property due to the positioning of any retaining walls and/or boundary fences constructed or to be constructed on the Property by the Seller. 4.3 Buyer s Acknowledgements The Buyer acknowledges that any boundary fencing and/or retaining walls either erected by the Seller as at the Contract Date or to be erected by the Seller prior to Settlement that relate to the Property are not or will not necessarily be located precisely on the boundaries of the Property. Subject to the Seller s express obligations under this Contract, the Buyer acknowledges that the Seller has no liability to the Buyer or any other person claiming through the Buyer including its successors in title to contribute to the cost of erecting or repairing any dividing fence, retaining wall or other wall whether under the Dividing Fences Act 1961 (WA) or otherwise and the Buyer shall indemnify the Seller against any such claim. The Buyer acknowledges that further site works and/or retaining walls may be required depending on the design of the specific residence and associated improvements that the Buyer elects to construct on the Property and the Buyer further acknowledges that the Buyer shall be responsible for all costs and expenses associated with any such additional site works and/or retaining walls and that the Seller has no liability or responsibility in that regard. 4.4 Uniform Fencing The Buyer acknowledges that the Seller, as part of the development of the Estate, is required to construct uniform fencing along the boundary between lot and the public open space, and in satisfaction of this requirement, the Seller intends to construct fencing consisting of brick piers at approximately five (5) metre spacing with Grey Ridge coloured Colorbond Neetascreen infill and black posts.

11 While at this stage the Seller intends to construct the uniform fencing as described in clause 4.4, the Buyer acknowledges it may become necessary or the Seller may consider it preferable to change or vary the materials from which the uniform fencing is constructed and as such the Seller reserves the right to do so. 4.5 Front Fencing This Special Condition 4.5 only applies if this Contract relates to one of lots 43 to 49 on the Plan. The Seller shall as part of the development of the Estate, and at the Seller s expense, construct fencing on the front boundaries of the Property and the side boundaries of the Property forward of the front building line. The fencing shall consist of limestone piers with permeable infill to be determined by the Seller in due course. 4.6 No Objections The Buyer may not make any Objections in relation to any of the matters it is acknowledging in this Special Condition CHANGES AND VARIATIONS 5.1 Reservation of Right to Change The Buyer acknowledges that the Estate of which the Property forms part is still in the process of being developed/constructed and that it may become necessary or the Seller may consider it preferable to change or vary the Estate during its development/construction. For the avoidance of doubt, as the Estate is subject to variation, the Plan is a draft version only and is also subject to variation. The Seller, in light of Special Condition 5.1, reserves the right to vary the Estate, which for the avoidance of doubt, includes but is not limited to the right to vary the Plan and/or the Property. The Parties agree that: (ii) if the Estate is varied in a way that, in the Seller s reasonable opinion, will not have a material prejudice on the Buyer, then the Buyer shall not be entitled to make any Objection with respect to any such variation; and if the Estate is varied in a way that, in the Seller s reasonable opinion, will have a material prejudice on the Buyer, then the Seller must notify the Buyer of any such change as soon as reasonably possible and the Buyer, upon being so notified, shall have the rights set out in Special Condition Buyer s Right to Terminate After being notified of a variation pursuant to Special Condition 5.1(ii), the Buyer shall have ten (10) Business Days from the date it was notified to decide whether or not it wants to terminate this Contract as a result of the variation stipulated in the notice. If the Buyer elects to exercise its right to terminate this Contract then it must provide written notice of its intention to terminate this Contract to the Seller within the ten (10) Business Day time frame. In the event that the Buyer properly notifies the Seller then this Contract shall immediately come to an end and the Deposit shall be refunded to the Buyer. If the Buyer does not provide notice of its intention to terminate this Contract to the Seller within the ten (10) Business Day time frame then the Buyer shall be deemed to have accepted the variation and the Buyer shall not be entitled to make any Objection in relation to the variation of which it was notified. 5.3 Decrease in Area The Parties agree that, in the event that the area of the Property, upon the issue of a separate Certificate of Title for the Property, decreases by five percent (5%) or less compared to the area of the Property as shown on the Plan then the Buyer is not materially prejudiced for the purposes of Special Condition 5.1.

12 5.4 Increase in Area The Parties agree that, in the event that the area of the Property, upon the issue of a separate Certificate of Title for the Property, increases by five percent (5%) or more compared to the area of the Property as shown on the Plan then the Seller may terminate the Contract by providing written notice of its intention to terminate this Contract to the Buyer at any time prior to Settlement. In the event that the Seller notifies the Buyer accordingly then this Contract shall immediately come to an end, the Deposit shall be refunded to the Buyer and the Parties will not have any further obligations to each other under this Contract. 6. BUYER S ACKNOWLEDGEMENTS 6.1 Review of Contract The Buyer acknowledges that it has reviewed this Contract in its entirety and it both understands and is satisfied with all of the terms and conditions of this Contract. Without limiting Special Condition 6.1 in any way, the Buyer acknowledges that it has reviewed and is satisfied with the Plan and all of the details shown thereon as they relate to the Property. 6.2 Physical Characteristics The Buyer acknowledges that: (d) it has made its own enquiries and has satisfied itself with respect to the physical characteristics that the Property will possess once completed, including but not limited to site conditions, site structures, soil types, levels, slopes, infrastructure, utility services and vegetation; it is responsible for ensuring that all buildings, structures, footings and other improvements that it erects on the Property are suitable in relation to the site conditions, site structures, soil types, levels, slopes, infrastructure, utility services and vegetation; whilst the Seller has made reasonable efforts to ensure that there is no condition on or below the Property that will affect the Buyer s use of the Property, the Buyer has made its own enquiries and has satisfied itself with respect to whether any condition on or below the Property will affect the Buyer s intended use of the Property and the Buyer agrees to purchase the Property subject to any sub-surface conditions that may exist; and it shall be solely liable for all site clearance and building preparation costs on the Property and is responsible for managing the associated impacts including but not limited to appropriateness for intended use and building restrictions and the costs which may result. 6.3 NBN The Buyer acknowledges that: (d) the Property is or will be serviced by NBN Co Limited, however the Seller has no control over, and makes no representation or warranty, as to when the NBN network infrastructure will be installed or be available at the Land, or as to when the Buyer will be able to connect to the NBN network infrastructure, accordingly as at Settlement and for a period thereafter, the Buyer may not have land-line access to internet or telephone services; the Seller is not responsible for, and the Buyer has no claim whatsoever against the Seller in relation to, the NBN network infrastructure not being installed on or available at the Land on the date of Settlement, or if there is any delay in the Buyer being able to connect to the NBN network infrastructure; the Buyer will comply with NBN Co Limited s building ready specifications when constructing a residence on the Property, to enable the Buyer s residence to be connected to the NBN network infrastructure; and if the Buyer fails to comply with NBN Co Limited s building ready specifications when constructing a residence on the Land, the Buyer will be unable to connect the Buyer s residence to the NBN network infrastructure, or will incur additional costs in order to connect the residence to the NBN network infrastructure.

13 6.4 No Warranty/Representation The Buyer acknowledges that: (d) other than any warranties or representations contained in this Contract, no warranty or representation has been given or made by the Seller or the Seller Agent or by any other person with the authority of the Seller or Seller Agent in relation to the Estate, the Property, the services to be supplied to the Property and/or the suitability of the Property for any particular use; the Buyer is deemed to have purchased the Property in reliance solely on the terms and conditions of this Contract, the Buyer s enquiries in relation to the Property and, if possible as at the date of this Contract, the Buyer s examination and inspection of the land that, upon the issuance of a separate Certificate of Title for the Property, will form the Property and any improvements thereto that exist as at the date of this Contract and the Buyer s examination and inspection of the Estate generally; Special Conditions 6.4 and 6.4 apply despite the contents of any brochure, document, letter or publication made, prepared or published by the Seller or the Seller Agent or by any other person with the authority of the Seller or the Seller Agent in relation to the Property; and any representation or warranty implied by virtue of any statute or otherwise will not apply to, or be implied in, this Contract and any such representation or warranty is excluded to the extent permitted by law. 6.5 Issue of Titles The Buyer acknowledges that: no warranty or representation has been given or made by the Seller or the Seller Agent or by any other person with the authority of the Seller or Seller Agent in relation to the timing for the issuance of a separate Certificate of Title for the Property; and except in the case of fraud or misrepresentation by the Seller or the Seller Agent, the Seller is not liable for any loss, damage, cost or expense (including, but not limited to, the increase in the money payable in any other agreement entered into by the Buyer concerning the Property), loss of profits or economic loss sustained by the Buyer, in any way arising out of the timing for the issue of a separate Certificate of Title for the Property or the timing of Settlement. 6.6 Settlement The Buyer acknowledges that it will proceed with Settlement in accordance with this Contract and receive the Property at Settlement in whatever condition the Property is in and with whatever services are supplied to the Property upon the Settlement Date without Objection. 6.7 Staged Development The Buyer acknowledges that: (ii) (iii) (iv) the Seller intends to subdivide the Original Land in stages, and accordingly, the Seller may undertake works in the vicinity of the Property, which may generate noise, vibration rubbish and dust; the Seller will endeavour to minimize the noise, vibration, rubbish and dust to the extent reasonably practicable; the Buyer will have no right to terminate this Contract, defer or delay Settlement or claim compensation against the Seller or the Seller s agents/contractors in relation to the carrying out of such works or for any nuisance resulting from the emission of dust, sand or noise; and the Seller makes no representation or warranty as to the subdivision of the future stages of the Original Land and will not be liable to the Buyer, and the Buyer will have no claim whatsoever (for compensation or otherwise) against the Seller if the Seller fails to complete the subdivision of those future stages. The Buyer must not make any objection to any future subdivision applications which may be lodged by the Seller or its agent for approval with any Authority.

14 6.8 No Objection The Buyer may not make any Objection in relation to any of the matters the Buyer acknowledges in this Special Condition CONSTRUCTION 7.1 Compliance with Restrictive Covenants The Buyer must not construct any building or structure on the Property, carry out any work in relation to the Property or use the Property in any way unless the building, structure, work and/or use of the Property complies with the section 136D deed of restrictive covenant that encumbers the Property. 7.2 Approval of the Plans The Buyer must not construct a house or any associated improvement on the Property unless the building plans in respect thereof have the prior written approval of the Seller (or a party nominated by the Seller). The Seller or the Seller s nominee (as applicable) must approve any building plans submitted to it by the Buyer in accordance with Special Condition 7.2 if the building plans are in accordance with the section 136D deed of restrictive covenant that encumbers the Property. In approving any building plans pursuant to this Special Condition, neither the Seller nor the Seller s nominee are providing any warranty to the Buyer as to whether the proposed building or structure can be built, complies with applicable Encumbrances effecting the Property or complies with the requirements of any relevant Authority. 8. MISCELLANEOUS PROVISIONS 8.1 Finance Approval If clause 1 (entitled Subject to Finance ) of the REIWA offer and acceptance form that is part of this Contract (for the purposes of this Special Condition 8.1 the Finance Condition ) applies to this Contract, the Finance Condition shall be deemed to be satisfied upon Finance Approval being obtained even if that Finance Approval ceases, lapses or expires prior to Settlement. For the avoidance of doubt, the Seller is under no obligation to agree to an extension of the Latest Time referred to in the Finance Condition or the Settlement Date in the event that Finance Approval ceases, lapses or otherwise expires. 8.2 Survey Pegs The Seller is not under any obligation to ensure that the Property is marked out with survey pegs or, if there are survey pegs marking out the Property, to ensure that they are in the correct position at or after Settlement. 8.3 Assignment The Buyer must not assign its rights and obligations under this Contract without the prior written consent of the Seller which consent may not be unreasonably withheld. 8.4 Display Home The Buyer must not use a building constructed on the Property as a display home or for any other display purposes without the prior written consent of the Seller. 8.5 No Caveat The Buyer must not, before the issue of a separate Certificate of Title for the Subdivision Lot, lodge any caveat against the title to the Original Land or any part of the Original Land to protect the Buyer s interest under this Contract. 8.6 Buyer s Authority The Buyer covenants and warrants with the Seller (which warranty the Buyer acknowledges has induced the Seller to enter into this Contract) that the Buyer has full power and capacity to enter into this Contract and the Buyer has obtained all relevant approvals necessary to enter into and complete this Contract.

15 8.7 Severance If any Special Condition in this Contract becomes invalid, illegal or unenforceable in any respect under any law, then the validity, legality and enforceability of the remaining conditions of this Contract shall not in any way be affected or impaired. 8.8 Entire Agreement The terms of this Contract represent the entire agreement between the Parties and no other terms or conditions shall be implied into this Contract by way of collateral or other agreement. Neither Party can rely on an earlier document, or anything said or done by another party, or by a director, officer, agent or employee of that party, before this Contract was executed. 8.9 Waiver and Variation A provision of or a right created under this Contract shall not be waived or varied except in writing signed by the Party or Parties to be bound Independent Legal Advice The Parties acknowledge that they have had ample opportunity prior to the execution of this Contract to obtain independent legal advice as to the extent and implications of this Contract and the Parties execute this Contract accordingly having either obtained such advice or having elected not to on the basis that they understand and accept all of their rights and obligations under this Contract. Buyer(s) initial here The copyright in this annexure is the property of Hale Legal Pty Ltd trading as Hale Legal. Any unauthorised use of this annexure will be prosecuted.

16

17 STAGE 1 ANNEXURE C RESTRICTIVE COVENANTS DEED OF RESTRICTIVE COVENANT THIS DEED IS MADE THE DAY OF 20 BY *** (ACN ***) of ***, Western Australia *** ( the Developer ) RECITALS A. The Developer is the registered proprietor of the Land. B. The Developer intends to register the Deposited Plan in relation to the Land. C. Pursuant to section 136D of the Transfer of Land Act 1893 (WA), the Developer wishes to create restrictive covenants which burden the Lots in accordance with the terms and conditions of this deed for the benefit of the Lots. D. Those parts of the Land burdened by the restrictive covenants contained in this deed are subject to the encumbrances noted in the schedule to this deed and where necessary, the Developer has obtained the encumbrancers consent to this deed. OPERATIVE PART 1. Construction Definitions In this deed, unless the context otherwise requires: (ii) (iii) (iv) (v) Construct means to construct, erect or install or permit to be constructed, erected or installed; Deposited Plan means deposited plan TBA; Floor Area means the total internal floor area of a residence which, for the avoidance of doubt, excludes the area of all garages, verandas, alfrescos and other unenclosed areas; Granny Flat means a self-contained residential dwelling that is ancillary to a Primary Residence; Land means lot TBA on deposited plan TBA being the whole of the land contained in certificate of title volume TBA folio TBA;

18 (vi) (vii) (viii) (ix) (x) Lots means lots TBA (inclusive) on the Deposited Plan; Main Building Line means the forward most wall of a habitable room of the residence excluding any wall attachments. For the avoidance of doubt, porticos and other minor attachments do not form part of the Main Building Line however full width verandas do form part of the Main Building Line ; Outbuilding means an enclosed non-habitable structure; Primary Residence means a primary, permanent and non-transportable residential building; and Public View means the view from all public streets, public thoroughfares and public open spaces. Interpretation In this deed, unless the context otherwise requires: (ii) (iii) the single includes the plural and vice versa; an agreement, representation or warranty on the part of two (2) or more persons shall bind them jointly and severally; and headings are for reference purposes only and do not affect the interpretation of this deed. 2. Restrictive Covenants - Construction Permitted Buildings The registered proprietor shall not Construct on the Lot any building unless it is a Primary Residence, a Granny Flat or an Outbuilding. Home Size The registered proprietor shall not, Construct on the Lot, a Primary Residence unless it has a minimum Floor Area of 120 square metres however this clause does not apply to Lots 43 to 49 (inclusive). Materials The registered proprietor shall not Construct on the Lot a Primary Residence or any alteration or addition to a Primary Residence unless the predominant building materials are a combination of brick, external brick veneer, limestone, stone, finished or rendered masonry or rammed earth. Roof (d) The registered proprietor shall not Construct on the Lot a Primary Residence, unless the Primary Residence has a roof that is: (ii) (iii) (iv) constructed from concrete tiles, clay tiles or Colorbond; painted or otherwise coated, sealed or treated in one colour; not highly reflective (zincalume is not permitted); and pitched at an angle of more than degrees and less than 45 degrees (excluding any part of the roof that covers verandah areas). Garage (e) The registered proprietor shall not Construct on the Lot a Primary Residence, unless the Primary Residence has a garage that is:

19 (ii) (iii) a double car garage capable of housing two (2) cars, parked side by side; a lock-up garage in that it has a garage door at least the width of two (2) cars (carports are not permitted); and constructed from materials similar and complimentary to the Primary Residence. (f) (g) The registered proprietor shall not Construct on the Lot a Primary Residence, unless the Primary Residence has a garage that is located under the main roof of the Primary Residence. The registered proprietor shall not Construct on the Lot a carport. Crossover/Driveway (h) The registered proprietor shall not Construct on the Lot a Primary Residence, unless the Primary Residence has a six (6) metre wide driveway however this clause does not apply to Lots 43 to 49 (inclusive). Solar Water Heaters and Solar PV Panels The registered proprietor shall not Construct on the Lot a solar water heater or any solar PV panels unless they: (ii) are located on the roof of the Residence or a Granny Flat; and are installed in keeping with the roof profile. Air Conditioner (j) The registered proprietor shall not Construct on the Lot an air conditioner on the exterior of the Primary Residence or a Granny Flat, unless it: (ii) (iii) is installed below the ridge line of the roof; and matches the colour of the roof; and is screened from Public View. Antenna (k) The registered proprietor shall not Construct on the Lot a television or radio antenna unless it is wholly contained within the roof space of the Primary Residence and/or Granny Flat between the ceiling and the underside of the roof or, if that is not possible and the antenna has to be mounted on the roof of the Primary Residence and/or Granny Flat, then unless the antenna is mounted on a rear facing section of the roof of the Primary Residence and/or Granny Flat such that the antenna is completely screened from Public View. Satellite Dish (l) The registered proprietor shall not Construct on the Lot a satellite dish unless it is screened from Public View. Clothes Line (m) The registered proprietor shall not Construct on the Lot a clothes line, hoist, drying or airing facility unless it is screened from Public View. Granny Flat (n) (o) The registered proprietor shall not Construct on the Lot more than one (1) Granny Flat. The registered proprietor shall not Construct on the Lot a Granny Flat unless: (ii) a Primary Residence has already been constructed on the Lot; the Granny Flat is constructed behind the Primary Residence and is screened from Public View; and

20 (iii) the Granny Flat is constructed from materials similar and complimentary to the Primary Residence. Outbuildings (p) The registered proprietor shall not Construct on the Lot a freestanding Outbuilding unless: (ii) it has a floor area of 10m² or less; and it is screened from Public View. Fencing (q) (r) The registered proprietor shall not Construct on the Lot any boundary fence forward of the Main Building Line of the Primary Residence however this clause does not apply to Lots 43 to 49 (inclusive). The registered proprietor shall not Construct on the Lot any boundary fence behind the Main Building Line of the Primary Residence which is: (ii) constructed from materials other than Grey Ridge coloured Neetascreen Colorbond (or such other colour which is substantially similar to Grey Ridge in the event that Grey Ridge is discontinued); and less than 1800 millimetres high. (s) The registered proprietor shall not in relation to a fence on the boundary of the Lot constructed by the Developer or a party on the Developer s behalf (if any): (ii) alter or remove the fence except as required to repair or replace the fence because of damage or wear and tear; and repair or renew the fence with any materials which are not of the same nature, quality and standard as those originally used. Local Development Plan (t) The registered proprietor shall not Construct a Primary Residence, Granny Flat, Outbuilding or any other improvement to the Lot unless they comply with the local development plan which applies to the Lot (if any). 3. Use of the Lot The registered proprietor shall not: Domestic Pets raise, breed, keep or permit to be raised, bred or kept more than four (4) domestic pets on the Lot; Signage erect or permit to be erected any signage or advertisements on the Lot unless it is a builder s sign required during construction and is no more than 600mm x 600mm or a real estate sign associated with the sale of an established Primary Residence (for the purposes of clarity signs for the sale of vacant land are not permissible however this restriction in no way prevents the registered proprietor from selling the Lot in the event an established Primary Residence has not yet been constructed on the Lot); Vehicles repair or maintain or permit to be repaired or maintained on the Lot any motor vehicle, boat, trailer or any other vehicle or machinery unless such repair or maintenance occurs behind the Main Building Line of the Primary Residence and is screened from Public View;

21 (d) park or permit to be parked commercial vehicles including trucks, buses and tractors (excluding panel vans and utilities) unless screened from Public View; Rubbish (e) permit any rubbish disposal containers on the Lot to be in Public View except on days allocated by the local authority for rubbish collection; Gardens (f) permit areas on the Lot forward of the Main Building Line and within Public View (excluding driveway and footpath areas) to remain unlandscaped for more than four (4) months from the date of completion of construction of the Primary Residence; Fencing (g) (h) (j) do or permit any act or thing which may cause the removal, alteration, marking or defacement of any existing fence or retaining wall on the Lot; permit any existing fence or retaining wall on the Lot to fall into a state of disrepair or to become unsafe; permit any tree, plant, building or any other thing to cause an existing fence or retaining wall on the Lot to become structurally unsound; permit any existing fence or retaining wall on the Lot to be repaired or replaced unless the repair or replacement is in the same material, style and colour as the existing fence or retaining wall; and Display Home (k) use or allow a building constructed on the Lot to be used as a display home or for any other display purposes. 4. Miscellaneous Provisions (d) (e) The registered proprietor acknowledges that the burden of the restrictive covenants contained in this deed runs with the Lot for the benefit of the registered proprietors of all other Lots and shall be enforceable against the registered proprietor of the Lot and every subsequent registered proprietor of the Lot. The registered proprietor acknowledges that each restrictive covenant contained in this deed is separate from the other and therefore if any restrictive covenant becomes invalid or unenforceable then the remaining restrictive covenants will not be affected and each remaining restrictive covenant will be valid and enforceable to the fullest extent permitted by law. The registered proprietor acknowledges that it must comply with and observe the restrictive covenants contained in this deed and furthermore acknowledges that the Developer shall have no responsibility for enforcing the restrictive covenants contained in this deed but reserves the right to do so. If a local development plan applies to any Lot that is subject to the restrictive covenants contained in this deed, then if there is any inconsistency between the local development plan and the restrictive covenants contained in this deed, the local development plan shall prevail to the extent of any inconsistency. The restrictive covenants contained in this deed shall expire and cease to have effect from and including 31 December Buyer(s) initial here The copyright in this annexure is the property of Hale Legal Pty Ltd trading as Hale Legal. Any unauthorised use of this annexure will be prosecuted.

22

23 STAGE 1 ANNEXURE D LANDSCAPING & FENCING BONUSES 1. LANDSCAPING BONUS 1.1 Landscaping Works Subject to clause 1.2 below, the Seller hereby agrees to provide, at the Seller s expense, verge and front garden landscaping designed, supplied and installed by a reputable landscape contractor (nominated by the Seller) which shall consist of the following (which, for the purposes of this annexure, shall be referred to as the Landscaping Works ): instant roll-on turf of a variety determined by the Seller, to the verge area in front of the Property (if applicable) and to the front garden area of the Property forward of the front building line, up to a maximum total area of 1 square metres (if the Property is not corner lot) or 235 square metres (if the Property is a corner lot); garden beds filled with organic mulch and plants selected by the Seller; and a water wise irrigation system consisting of: (ii) (iii) fixed below ground mm Class 9 / 20 mm Class 12 rigid PVC pipe work; an automatic 6 station water wise controller installed adjacent to the Western Power meter box; and pop up sprinklers for the turfed area and a combination of fixed head and dripper sprinklers (in poly) to the garden beds. 1.2 Conditions of Landscaping Bonus The provision of the Landscaping Works is subject to and conditional upon: (ii) (iii) (iv) the Buyer submitting and receiving approval for their building plans by the Covenant Administrator prior to the building plans being submitted to the City of Mandurah; the Buyer commencing construction of the primary, permanent and non-transportable building on the Property (which, for the purposes of this annexure, shall be referred to as the Primary Residence )within 6 months of the Settlement Date and completing construction of the Primary Residence within 18 months of the Settlement Date; the Buyer, within 2 months of completion of the Primary Residence, providing the Seller with written notice advising that the Primary Residence has been completed and requesting that the Seller carry out the Landscaping Works; the Buyer removing all rubbish and rubble and levelling the area to be landscaped in preparation for the Landscaping Works to commence. Where the proposed turfed area meets a kerb, driveway or path, the Buyer must ensure that the final level of the soil is approximately 40 millimetres below the top of that hard area of kerb, driveway or path;

24 (v) (vi) the Buyer installing a 90 millimetre PVC stormwater pipe beneath the driveway, offset 4 metres from the front of the garage. The storm water pipe will assist in minimising disruption to paving which may otherwise occur during installation of the irrigation system; and the Buyer not breaching any of the terms and conditions of this Contract including the restrictive covenants as set out in annexure C of this Contract. In the event that the Buyer does not comply with the conditions set out at clause 1.22 above then the Seller is under no obligation to provide the Landscaping Works to the Buyer. 1.3 Completion of Landscaping Works Subject to the Buyer s compliance with the terms and conditions of this annexure, the Landscaping Works shall be completed by the Seller as soon as reasonably possible after the date that the Buyer provides the Seller with notice pursuant to clause 1.2(iii) above. 1.4 Buyer s Acknowledgments The Buyer acknowledges: (d) (e) that it must grant the Seller (and any contractor/s nominated by the Seller to carry out the Landscaping Works) the right to enter upon the Property for the purpose of carrying out the Landscaping Works; that while the Seller will use its best endeavours to take into account the requirements of the Buyer, all decisions with respect to the extent of the Landscaping Works are to be determined by the Seller in the Seller s absolute discretion; the Landscaping Works do not include rockeries, retaining walls or any other type of landscaping treatments other than selected plants included as part of the Landscaping Works at the Seller s absolute discretion; a 12-month warranty period covers faulty workmanship of the manufactured goods only including valves, sprinklers, controllers and pipework; and that the Landscaping Works are not transferable to a third party and the Buyer s right to receive the Landscaping Works will become null and void should the Property be on-sold to a third party prior to the provision of the Landscaping Works. 2. FENCING BONUS 2.1 Fencing Works Subject to clause 2.2 below, the Seller hereby agrees to provide, at the Seller s expense, side and rear boundary fencing (using Grey Ridge Neetascreen Colorbond fencing or such other colour which is substantially similar to Grey Ridge in the event that Grey Ridge is discontinued) to be installed on the side boundaries of the Property up to the front building line and the rear boundary of the Property ( the Fencing Works ). 2.2 Conditions of Fencing Bonus The provision of the Fencing Works is subject to and conditional upon: the Buyer submitting and receiving approval for its building plans by the Covenant Administrator prior to the building plans being submitted to the City of Mandurah; (ii) the Buyer commencing construction of a Primary Residence on the Property within 6 months of the Settlement Date and completing construction of the Primary Residence within 18 months of the Settlement Date; (iii) (iv) the Buyer within 2 months of completion of the Primary Residence providing the Seller with written notice advising that the Primary Residence has been completed and requesting that the Seller carry out the Fencing Works; and the Buyer not breaching any of the terms and conditions of this Contract including the restrictive covenants as set out in annexure C of this Contract.

25 In the event that the Buyer does not comply with the conditions set out at clause 2.2 above then the Seller is under no obligation to provide the Fencing Works to the Buyer. 2.3 Completion of Fencing Works Subject to the Buyer s compliance with the terms and conditions of this annexure, the Fencing Works shall be completed by the Seller as soon as reasonably possible after the date that the Buyer provides the Seller with notice pursuant to clause 2.2(iii) above. 2.4 Buyer s Acknowledgments The Buyer acknowledges: (d) (e) (f) (g) (h) that it must grant the Seller (and any contractor/s engaged by the Seller to provide the Fencing Works) the right to enter upon the Property for the purpose of carrying out the Fencing Works; that it shall not be entitled and agrees not to claim any amounts back from any adjoining lot owners for fencing supplied by the Seller; that, where the fencing is set directly into soil, the bottom of the fencing shall be set as close as reasonably possible to the paving height shown on the Buyer s building plans. For the avoidance of doubt, this may result in a gap at the base of the fencing if the Property has a slope however the Buyer shall not make any Objection in relation to any such issues and furthermore the Buyer shall be solely responsible for any site works and/or retaining that the Buyer considers necessary as a result of any such issues; if the Seller has constructed a fence on any boundary of the Property prior to the Seller providing the Fencing Works then the Seller s obligations shall be limited to constructing a boundary fence only on any unfenced boundary of the Property and, for the avoidance of doubt, the Seller shall not be required to adjust the height of any existing fencing relative to the paving height shown on the Buyer s building plans or otherwise; this fencing bonus does not apply to and the Seller is under no obligation to provide fencing in relation to any section of a boundary that has a nil setback or any section of a boundary that an applicable local development plan indicates is not to be fenced; in the event that the Buyer does not comply with the conditions set out at clause 2.2 and the Seller does not provide the Fencing Works or the Seller does not supply the Fencing Works for any other reason, the Buyer agrees to erect fencing to the quality and standard as the fencing that would have been provided by the Seller as part of the Fencing Works; that the Fencing Works are not transferable to a third party and the Buyer s right to receive the Fencing Works will become null and void should the Property be on-sold to a third party prior to the provision of the Fencing Works; and that the Seller does not guarantee that any fencing provided by the Seller pursuant to this annexure will be located on the exact boundaries of the Property and the Buyer shall not make any Objection in that regard. Buyer(s) initial here The copyright in this annexure is the property of Hale Legal Pty Ltd trading as Hale Legal. Any unauthorised use of this annexure will be prosecuted.

26

27 STAGE 1 ANNEXURE E ADVICE TO PURCHASERS 1. OFF THE PLAN CONTRACT You are signing a contract for the purchase of what is described in this contract as the Property. Currently, the Property is not yet a separate lot with its own certificate of title. Also, the physical construction of the Property as a separate lot may not yet be complete and may not be complete at settlement. For example, all retaining walls and roads may not be complete and drainage, water supply and sewerage may not yet be reticulated to the Property. You need to be aware that: (ii) the separate certificate of title for the Property may not be issued for quite some time; and the separate certificate of title may issue and you may be required to settle the purchase of the Property before the physical construction of the Property as a separate lot is complete. 2. TIMING OF ISSUE OF A SEPARATE CERTIFICATE OF TITLE When you have been talking to the Seller or the Seller s real estate agent about the Property, you may have been given an estimate of the likely or possible time it will take for the separate certificate of title to issue. You need to be aware that any date which you have been advised as being the date by which the separate certificate of title will have been issued is an estimate only. In making your plans for the Property (for example: raising finance or entering into a building contract to build your home), you need to take into account the fact that the actual timeframe for the issue of the separate certificate of title may be significantly shorter or longer than the estimated date given to you (perhaps by a period of several months). The reason for this is that there are a number of things which need to happen in order for a separate certificate of title for the Property to issue and a lot of these things are beyond the Seller s direct control. You should ask the Seller or the Seller s real estate agent to keep you up to date regarding the issue of the separate certificate of title. Once again, any estimate by or on behalf of the Seller of the likely date for the issue of a separate certificate of title is an estimate only. The Seller or the Seller s real estate agent will not be responsible for any loss you may incur if the separate certificate of title is not issued by the estimated date. 3. PHYSICAL CONSTRUCTION OF THE PROPERTY AS A SEPARATE LOT You need to be aware that one of things which is not a requirement for the issue of the separate certificate of title is the completion of the physical construction of the Property as a separate lot. You need to bear this in mind that if you are planning to start building a residence on the Property shortly after settlement. The fact that, at settlement, physical construction of the Property may not be complete may cause delays in construction of your residence. As some building contracts contain provisions for price increases over time, the delays in construction

28 resulting from the fact that the physical construction of the Lot has not been completed may cause the cost of constructing your residence to increase. You should consider this carefully before entering into the building contract as the Seller will not be responsible for any building price increases as a result of any delays in completing the physical construction of the Property. Please note that this annexure is advisory in nature only and is provided as a courtesy to you, the Buyer. It is merely a guide intended to help you to understand some of the important issues concerning your purchase of the Property and, in particular, the timing for settlement. This annexure does not modify, negate or alter in any way any of the conditions of this contract including, without limitation, the Special Conditions contained in annexure A or the 2011 General Conditions. You should not rely on this annexure as a substitute for reading this contract or obtaining independent legal advice in respect of any matters you are unsure of. In fact, if there are matters you are unsure of, you should not sign this contract until you have obtained your own independent legal advice and, as a result, are satisfied that you now understand the matter in question. Buyer(s) initial here

29 STAGE 1 ANNEXURE F LOCAL DEVELOPMENT PLAN

30 MALATA RIDGE MALATA RIDGE HAW DON ROAD LANGLEY STREET CARDINAL LOOP CASCADE ROAD TATE LANE PICTON ROAD BADGERUP AVENUE BALTORO ROAD HAW DON ROAD SEYMOUR ROAD NIRVANA ROAD BALDWIN STREET ALBERTA ROAD VELLUDA LANE ALVERSTONE BOULEVARD VELLUDA LANE 335 LEGEND LOCAL DEVELOPMENT PLAN BOUNDARY RESIDENTIAL RMD- RESIDENTIAL RMD-40 PUBLIC OPEN SPACE CORNER LOT DESIGN DUAL USE PATH FOOTPATH NO VEHICLE ACCESS UNIFORM ESTATE FENCING DESIGNATED GARAGE LOCATION 100m WIDE BUSHFIRE ATTACK LEVEL (BAL) ASSESSMENT AREA 20m ASSET PROTECTION ZONE BUSHFIRE ATTACK LEVEL (BAL) 12.5 BUSHFIRE ATTACK LEVEL (BAL) 19 BUSHFIRE ATTACK LEVEL (BAL) 29 NOISE MITIGATION - PACKAGE A: DEEMED TO SATISFY CONSTRUCTION STANDARDS REQUIRED NOISE MITIGATION - PACKAGE B: DEEMED TO SATISFY CONSTRUCTION STANDARDS REQUIRED RECOMMENDED GARAGE LOCATION FUTURE SUBDIVISION PUBLIC OPEN SPACE & DRAINAGE PUBLIC OPEN SPACE & DRAINAGE LOCAL DEVELOPMENT PLAN No.1 NORTH Scale A m A 28 Brown St, East Perth WA 6004 Lot 101 Mandurah Road, LAKELANDS DATE: 16/05/2016 DRAFTEE: JP P (08) Page 1 of 2 REVISED: PLANNER: TV E info@creativedp.com.au PROJECTION: PCG 94 CHECK: JH W creativedp.com.au DATUM: AHD PLAN NUMBER: UCGNL Copyright Creative Design & Planning. No part of this plan may be reproduced in any form without prior consent from CDP. All care has been taken in preparation of this plan but no responsibility is taken for any errors or omissions and is subject to change. Areas and dimensions shown on plan are subject to final survey. Carriageways depicted on plan are diagrammatic only.

31 LOCAL DEVELOPMENT PLAN No.1 Lot 101 Mandurah Road, LAKELANDS Page 2 of 2 NORTH 0 DATE: REVISED: PROJECTION: DATUM: ENDORSEMENT OF MANAGER PLANNING & LAND SERVICES SIGNATURE: DATE: LOCATION PLAN Scale A m A 28 Brown St, East Perth WA /05/2016 DRAFTEE: JP P (08) PLANNER: TV E info@creativedp.com.au PCG 94 CHECK: JH AHD PLAN NUMBER: UCGNL W creativedp.com.au Copyright Creative Design & Planning. No part of this plan may be reproduced in any form without prior consent from CDP. All care has been taken in preparation of this plan but no responsibility is taken for any errors or omissions and is subject to change. Areas and dimensions shown on plan are subject to final survey. Carriageways depicted on plan are diagrammatic only. PERTH - MANDURAH RAILW AY MANDURAH ROAD