HENTIES BAY GOLF & LIFESTYLE APARTMENTS SECTIONAL TITLE DEVELOPMENT AGREEMENT OF SALE

Transcription

1 HENTIES BAY GOLF & LIFESTYLE APARTMENTS SECTIONAL TITLE DEVELOPMENT AGREEMENT OF SALE ENTERED INTO BY AND BETWEEN HENTIES BAY GOLF RESORT (PTY) LTD (Registration Number: 2010/0150) herein represented by PAUL VAN BILJON warranting to be duly authorized thereto (Hereinafter referred to as the Seller ) In respect of UNIT/SECTION NO. in the sectional title development to be known as THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS and situate in Henties Bay Extension 13, as more fully depicted on section C of the Schedule hereto and the Purchaser, as more fully described in Paragraph B on the Schedule hereto. ELLIS SHILENGUDWA INCORPORATED First Floor, Altes Amtsgericht Building, c/o Theo Ben Gurirab and Tobias Hainyeko Streets, P O Box 2148, Swakopmund, Namibia Telephone No: Facsimile No:

2 CONTENTS The Schedule Pages 2 7 Interpretation Pages 8 36 A. THE SELLER Full Name Address THE SCHEDULE HENTIES BAY GOLF RESORT (PTY) LTD (Registration Number: 2010/0150) PO Box 983, SWAKOPMUND Phone Fax And includes the Seller s successors-in-title. B.1 THE PURCHASER (NATURAL PERSON) (ONE PURCHASER) Full Name Identity No. Registration No. Date of Birth Income Tax Ref No. Passport No. & Country Marital Status (Please tick) NOT MARRIED IN COMMUNITY OF PROPERTY OUT OF COMMUNITY OF PROPERTY (by ANC) REDLINE MARRIAGE (PROCL 15 OF 1928) FOREIGN MARRIAGE SWAPO MARRIAGE **Names of spouse Identity No. Registration No. Date of Birth Income Tax Ref No. Passport No. & Country Address Phone (H) Fax No. Phone (B) Mobile No. Physical Address Postal Address Business Address 2

3 B.2 THE PURCHASER (IF MORE THAN ONE PURCHASER, FILL IN HERE) Full Name Identity No. Income Tax Ref Registration No. No: Passport No. & Date of Birth Country: Marital Status (Please tick) NOT MARRIED IN COMMUNITY OF PROPERTY OUT OF COMMUNITY OF PROPERTY (by ANC) REDLINE MARRIAGE (PROCL 15 OF 1928) FOREIGN MARRIAGE SWAPO MARRIAGE **Names of spouse Identity No. Registration No. Date of Birth Income Tax Ref No. Passport No. & Country Address Phone (H) Fax No. Phone (B) Mobile No. Physical Address Postal Address Business Address B.3 PURCHASER S PARTICULARS (for purpose of transfer) If not a natural person but a Company, Close Corporation or Trust Name of corporate body: Registration No.: VAT/Income Tax Registration No.: Name of contact person Contact No. Fax No. (B) DETAILS OF ALL DIRECTORS/MEMBERS/TRUSTEES ATTACH RESOLUTION FOR PTY, CC OR TRUST Full Names Identity No. Income Tax Ref No. Residential Address 3

4 C. THE PROPERTY SOLD Section / Unit number, as reflected and indicated on the annexed floor plan marked F hereto and in joint extent approximately square meters in the building to be known as THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, to be erected in accordance with the Architect Drawings and Specifications and Schedule of Finishes, as set out in the Annexures to this Agreement, which building shall be erected on the property, and An undivided share in the common property in the land and building, as shown and more fully described on the said drawings, apportioned to the said section in accordance with the participation quota of the said section to be specified in a schedule to be endorsed on the aforesaid sectional plan, and which shall substantially comply and conform with the Architect Drawings, subject to the modification or variation thereof, in terms of clause 9 hereof (hereinafter referred to as the Unit ). Unit/Section No/s Garage No/s Other No/s Size/s Approximate (Construction Area) m² D. PURCHASE PRICE N$ E. PAYMENT OF PURCHASE PRICE Purchase Price N$ Less deposit N$ Balance of purchase price on transfer N$ The Purchaser shall pay a deposit of N$30,000 on signature of this Agreement into the trust Account of the Seller's Conveyancers, Ellis Shilengudwa Incorporated, Swakopmund, Namibia, The particulars are as follows: Account name: Ellis Shilengudwa Incorporated - Trust Account STANDARD BANK BANK WINDHOEK FNB NAMIBIA Branch name: Swakopmund Swakopmund Swakopmund Branch Code: Account Number: Deposit Reference: Unit Number and Surname 4

5 Proof of deposit to be faxed to: Or to: F. ESTIMATED LEVY (As per Annexure E) It is recorded that the final levy will be determined and adopted at the first annual general meeting of the body corporate, which meeting will be held within 6 (six) months from the opening of the Sectional Title Register in the Deeds Office. G. ESTIMATED OCCUPATION DATE 16 Months, excluding builders holiday, from commencement of construction. H. ESTIMATED TRANSFER DATE Same as G above. I. MORTGAGE BOND REQUIRED (TICK APPROPRIATE BOX) YES NO Amount required N$ 30 (Thirty) business days from date of signature by Date by which bond must be approved: the Seller Financial Institution where bond will be applied for: J. SELLING AGENT Amount of Commission payable as per mandate agreement (excl. VAT) Name of Agency Contact Person Contact Number VAT Number of Agency CONVEYANCERS: Name of firm: Ellis Shilengudwa Incorporated Business address: First Floor, Altes Amtsgericht Building, c/o Theo Ben Gurirab and Tobias Hainyeko Streets, Swakopmund, Namibia Postal address: P.O. BOX 2148, Swakopmund, Namibia Telephone No.: Facsimile No.: Contact Person: Marina Loubser Address: marina@esinamibia.com Vat Registration No:

6 KINDLY FORWARD A COPY OF THE BELOW MENTIONED DOCUMENTS TO: Ellis Shilengudwa Inc Attorneys; Attention Pieter Hamman or Marina Loubser, Tel: (064) or Fax: (064) , PO Box 2148, Swakopmund, Physical Address: Office Number 2, Court Yard Building, Daniel Tjongerero Street, Swakopmund, pieter@esinamibia.com / marina@esinamibia.com 1. If unmarried: Certified copy of first page of your Identity Document; 2. If married: Certified copy of both husband and wife s Identity Document, marriage certificate and, if applicable, Ante nuptial Contract; 3. If Company: Certified copy of the Memorandum and Articles of Association, Certificate of Incorporation and Certificate to Commence Business; 4. If CC: Certified copy of the Founding Settlement; 5. If a Trust: Certified copy of the Trust Deed and letters of Authority; The Purchaser hereby warrants to the Seller that the aforegoing information is true and correct and that he/she knows of no other information which is relevant to his/her creditworthiness and/or contractual capacity and/or status, which he/she have not disclosed to the Seller. 6

7 ANNEXURES A FIA Declaration Page B Alienation and Sectional Title Register Conditions Page C Special Power of Attorney Page D Site plan Page E Participation Quota Page F Floor Plan Lay-out: THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS Page G Floor Plan Lay-out: Unit Page H Specifications List Page I Acknowledgement of Receipt of Rules Page J Instruction to Invest Trust Monies Page SIGNED by the Purchaser at on 20. Witness Purchaser Witness Purchaser (if applicable) SIGNED by the Seller at on 20. Witness Seller Witness 7

8 STANDARD TERMS AND CONDITIONS TO AGREEMENT OF SALE 1. INTERPRETATION In this agreement, unless inconsistent with or otherwise indicated by the context, the following words and expressions shall have the meanings assigned to them hereunder: 1.1 act means the Sectional Title Act 2 of 2009 as amended and the regulations thereto and the following definitions shall bear the meaning ascribed thereto in the Act Common Property; Scheme; Participation Quota; Section; Sectional Plan; Sectional Title Register; Unit; Body Corporate; and Developer; 1.2 approved marketing agent means any agent that has signed a referral mandate agreement with the Seller. 1.3 agreement means this agreement signed by the parties hereto, together with the Schedule, terms and conditions of sale and all annexures attached hereto or referred to herein, which Schedule and annexures are deemed incorporated herein; 1.4 architect means or any other architect appointed by the Seller to act from time to time in respect of the development scheme; 1.5 bond approval date means 30 (thirty) business days from the date of Signature of this Agreement by the Seller or such extended date stipulated in writing by the Seller; 1.6 business days means any day other than a Saturday, Sunday or public holiday in the Republic of Namibia and "Business Days" has a corresponding meaning; 1.7 commencement date means the date when construction of the Scheme, comprising the Unit hereby sold will be commenced, which date shall be not more than 60 (sixty) days after the effective date; 1.8 common property means the portion of the scheme not forming part of any Section and/or Unit in the Scheme, in terms of the Act and excludes any exclusive use area, if any; 8

9 1.9 completion certificate means a certificate signed by the Henties Bay Municipal Council, certifying that the Scheme comprising the Units have been constructed in accordance with the Drawings and Specifications and that the internal Specifications and lay out have been duly completed and that the Unit hereby sold is fit for beneficial occupation completion date means a date not later than 16 (sixteen) months after the Commencement Date, excluding builder s holiday, and against the issue by the Henties Bay Municipal Council of a Completion Certificate, as more fully described in Clause 14 hereof, which certificate will serve as evidence that the Scheme have been constructed in accordance with the Drawings and Specifications; 1.11 conditions means the notarial conditions to be registered against the sectional title register, which are listed in Annexure B hereto and more fully dealt with in clause 24 below; 1.12 date of transfer means the date upon which the Unit is transferred and registered into the name of the Purchaser; 1.13 deposit means the deposit referred to in clause below and which is payable, within 7 (seven) days from date of Signature Date hereof; 1.14 developer means Henties Bay Golf Resort (Pty) Ltd, Registration number: 2010/0150; 1.15 development means THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, which apartments shall form part of the Henties Bay Golf and Lifestyle Estate, a lifestyle and housing development, as more fully depicted on the development layout marked Annexure D. THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, which is the subject matter of this agreement, shall take on the format of a sectional title residential development comprising a total of 30 (thirty) Units, which will be developed on the property and which will be known as THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS; 1.16 drawings means the drawings according to which the Scheme, compromising the Unit, will be constructed, the details whereof the Purchaser hereby acknowledges himself/herself to be fully acquainted with and the sheets of which drawings are on display at the offices of the Developer and which Drawings the Purchaser hereby acknowledges to have perused and duly satisfied himself/herself as to the contents and details thereof, being the architectural drawings drawn by the Architect, which said drawings shall be available for inspection by the Purchaser at the offices of the Developer; 1.17 effective date means, notwithstanding the Signature Date, the date upon which all the suspensive conditions have been fulfilled or waived (as the case may be) and the date of final completion of the Scheme, comprising the Unit as confirmed by a Completion Certificate by the Architect and registration thereof in the name of the Purchaser, registration of any Mortgage Bond referred to in clause 17 and compliance by the Seller and the Purchaser of all their respective obligations; 9

10 1.18 effective interest rate means the current prime interest rate of Bank Windhoek, as published from time to time; 1.19 estimated monthly levies means the contribution normally payable by the Purchaser to the body corporate in terms of the participation quota as prescribed by the Act and the further levies detailed in the schedule of the levies in Annexure E hereto; 1.20 exclusive use area means those areas of the Common Property, if any, indicated as such on the Drawings, in respect of which the Purchaser will have the exclusive right and use with the exclusion of any other owner, as more fully provided for in item B.1, B.2 and B.3 of the Schedule above; 1.21 fixtures and fittings shall include, but not be limited to, wall plaster, tiles, plumbing, windows and doors, cupboards and electrical wiring and fittings; 1.22 floor plan means the lay-out of the sections attached hereto and marked Annexure F and which forms part of the Architectural Drawings; 1.23 loan amount means the loan amount referred to in item I of the Schedule above, or any loan in a lesser amount accepted by the Purchaser prior to expiry of the date of fulfillment of the suspensive conditions; material adverse event means: any event, circumstance or matter or combination of events, circumstances of matters which have or are reasonably likely to have, in the sole discretion of the Seller, a material adverse change and effect on: the business, operations, property, condition (financial or otherwise) and/or the financial prospects of the Seller to make the anticipated development successful or to proceed with such development at all; and/or the ability of the Seller financially or otherwise to comply with his obligations arising out of this Agreement; and without in any manner whatsoever limiting the generality of the aforementioned, the following events will, in the sole discretion of the Seller constitute such material adverse event, namely: Any increase in the cost of material or labour with more than 20% reckoned as from the Date of Signature hereof, and/or Any failure by the Seller to obtain all necessary or required governmental or other applicable approvals; and/or The Seller encountering soil or rock formations that will make construction costs of the development financially not viable Henties Bay Golf & Lifestyle Estate means the free title township development also developed on extension 13 Henties Bay. 10

11 1.25 occupation date means the date of issuing of the completion certificate, upon which the Unit is fit for occupation by the Purchaser and the Purchaser shall take occupation of the Unit before transfer, otherwise occupation date will be the date of transfer; 1.26 occupational rental means the monthly occupational rental as stipulated under clause 5.2.3, excluding the estimated monthly levy, water and electricity, which amount shall be payable monthly in advance; 1.27 participation quota means in relation to a section, the quota allocated to that unit/ section in the registered sectional plans upon opening of the sectional title register, and is calculated by dividing the total of the quotas allocated by the developer to the units/ sections in proportion to the quotas made in terms of section 34 of the Act. The Schedule of the participation quotas for THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS is annexed hereto marked E ; 1.28 property means certain Erf No.., Henties Bay, Extension 16, situated in the Municipality of Henties Bay, Registration Division G, Erongo Region, Measuring (..) Square Meters, as more fully depicted on Annexure D hereto; 1.29 purchaser means the Purchaser referred to in item B.1, B.2 and B.3 in the Schedule above, and including the Purchaser s successors in title; 1.30 purchase price means the Purchase Price referred to in item D of the Schedule above; 1.31 rules means the proposed management rules and conduct rules of THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, copies of which were handed to the Purchaser and receipt of which the Purchaser acknowledged on Annexure I. These rules are deemed to be part and parcel of this agreement. These rules are, due to the voluminous nature thereof, not attached to this agreement. These rules will ultimately be registered in terms of the Act; 1.32 scheme means the Sectional Title Development THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS as discussed in clause 1.15 hereof; 1.33 section means the Unit referred to in item C of the Schedule above; 1.34 sectional plan(s) means the draft sectional plans as prepared by the land surveyor, a copy of which is available for inspection at the offices of the Developer; 1.35 seller means the party referred to in item A of the Schedule above; 1.36 seller s conveyancers means Ellis Shilengudwa Incorporated, currently situated at First Floor, Altes Amtsgericht Building, c/o Theo Ben Gurirab and Tobias Hainyeko Streets, Swakopmund, telephone number: (064) , fax number: (064) , for attention Pieter Hamman, pieter@esinamibia.com or Marina Loubser, marina@esinamibia.com; 1.37 site plan means the site or scheme layout plan attached marked Annexure D ; 1.38 specifications means the list of specifications and finishing schedule of the building and furbishing of the apartments which will lie open for inspection at the offices of the Developer, the Agent and 11

12 the Architect, and of which the Purchaser acknowledges himself/herself to be fully acquainted with, a copy of which is attached hereto and marked Annexure H ; 1.39 unit means Section No. in the building to be known as THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, measuring approximately square meters, PLUS an undivided share in the Common Property erected and constructed in terms of the Drawings and Specifications; 1.40 The singular shall include the plural and vice versa and words importing one gender shall include the other genders; 1.41 Any reference to a natural person includes a juristic person and vice versa; 1.42 Any calculation of time referring to days means any day, excluding Saturdays, Sundays and Public Holidays; 1.43 Headings to clauses are for reference purposes only, and are not to be used in the interpretation thereof. WHEREAS A. The Seller has developed the Henties Bay Golf & Lifestyle Estate, of which THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, that is the subject matter of this agreement, will form part of. B. The Seller is the registered owner of the property. C. THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS will be developed by means of erecting a sectional title scheme on the Property, in accordance with a sectional title plan to be compiled in terms of the Act; D. the Seller will, after having obtained the approval of the Local Authority and after having sufficiently completed the Scheme mentioned herein, apply to the Registrar of Deeds for the opening of a sectional title register and for the issue in respect of each erected Unit of a registered sectional title; E. THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS will comprise a total of 30 (thirty) sectional title dwelling Units, in accordance with the annexed Site Plan and Floor Plans, marked D and F respectively; F. The Purchaser has offered to buy the unit described herein; G. The Seller is prepared to sell and transfer to unit to the Purchaser; H. The parties is desirous of entering into this Agreement subject to the terms and conditions as set out herein. NOW THEREFORE it is agreed, subject to the following conditions, that: 2. THE SALE OF A UNIT 2.1 The Seller hereby sells to the Purchaser (relying on the representations and warranties made by the Seller) and the Purchaser hereby purchases the Unit from the Seller. 12

13 2.2 The sale and purchase in 2.1 shall take effect on the Effective Date. 2.3 The Purchaser acknowledges that he/she is aware of the fact that the Unit will be constructed in accordance with the Drawings and Specifications, full particulars of which have been disclosed to the Purchaser and will reflect the representation(s) made by the Seller to the Purchaser in the marketing material and Specifications. 2.4 The Purchaser undertakes, on the Completion Date, to accept the Unit as built, provided that it complies with the Drawings and Specifications and provided further that a Completion Certificate has been issued, subject however to the right of the Purchaser to submit a defects list. 2.5 Save for such warranties as are included herein, the Seller does not give any other warranties either expresses or implied in regard to the Property, the Scheme or the Unit. 3. PURCHASE PRICE AND PAYMENT The Purchase Price payable to the Seller by the Purchaser shall be the amount(s) described in items D and E of the Schedule above. 3.1 The Purchase Price shall be payable in one of the following manners: The deposit payable as per clause E of the Schedule above in cash or bank guaranteed cheque or via electronic transfer shall be paid on the date of signature of this Agreement. The deposit shall be refunded by the Seller in the event of the suspensive conditions not being fulfilled The payment referred to in clause above shall be paid to the Seller s Conveyancers and shall be held in trust by the Seller s Conveyancers. The deposit shall only be invested in an interest bearing account for the benefit of the Purchaser in terms of Section 26 (3) of the Legal Practitioners Act, Act 15 of 1990, if the deposit exceeds N$50, The balance of the Purchase Price shall be payable against registration of transfer of the Unit and shall be secured by cash or by bank or building society irrevocable guarantees, acceptable to the Seller's Conveyancers, drawn in favor of the Seller or its nominee and expressed to be payable free of exchange against transfer including the issuing and delivery of a Completion Certificate by the Henties Bay Municipal Council. Such cash or guarantees shall be furnished to the Seller s Conveyancers within 14 (fourteen) Business Days of being requested to do so by the Seller s Conveyancers The payment made by the Purchaser shall be made free of bank commission or costs at Swakopmund, at the address of the Seller s Conveyancers, as the representatives of the Seller, or such other places as the Seller may from time to time require from the Purchaser in the legal currency of the Republic of Namibia; 13

14 3.2 The Seller shall not be obliged to commence building operations, until approval of the loan application is submitted to the Seller s Attorneys by the Purchaser, and all the plans related to the Scheme have been approved by the relevant Local Authority. 3.3 Should for any reason the proceeds of the guarantee to the Seller not be sufficient to discharge all amounts owing or which shall become owing by the Purchaser to the Seller, arising from and in connection with this Agreement, then and in such event the Purchaser shall be obliged to pay such shortfall upon demand by the Seller s Conveyancers and to furnish an acceptable guarantee and/or a letter of undertaking issued by a bank or any other recognized financial institution securing payment as referred to in clause or as otherwise agreed with the Seller, without derogating from any other rights which the Seller may have herein. Should the Purchaser fail to pay any amount as aforesaid within a period of 14 (fourteen) Business Days or as otherwise agreed with the Seller, the Seller shall not be obliged to commence and/or continue building operations and the Agreement shall forthwith be regarded as cancelled without any further notice to the Seller s legal rights and remedies and the Purchaser will forfeit 50% (fifty percent) of the Deposit, if already paid. 3.4 In the event of the Purchaser selling the Unit to a subsequent purchaser prior to the Date of Transfer, the parties hereto agree that for purposes of compliance to the provisions of clause 3.3, no guarantee given on behalf of such subsequent Purchaser and made payable upon the registration of the Unit, in the name of such subsequent Purchaser, shall constitute an acceptable guarantee, except if the Seller agrees in writing to accept such guarantee. 3.5 All payments shall be made to the Seller s Conveyancers being Ellis Shilengudwa Incorporated and can be directly deposited into their trust account. The particulars are as follows: Account name: Ellis Shilengudwa Incorporated - Trust Account STANDARD BANK BANK WINDHOEK FNB NAMIBIA Branch name: Swakopmund Swakopmund Swakopmund Branch Code: Account Number: Deposit reference: Number of Unit and Surname. In the event of such direct deposit, confirmation thereof must be faxed to (064) for the attention of Chantelle Valentine, or to marina@esinamibia.com or pieter@esinamibia.com. Should the Purchaser fail to notify the Seller Conveyancers of any Deposit made, the Seller s Conveyancers shall not be held liable for any loss of interest. 14

15 4. WARRANTIES BY SELLER The Purchaser acknowledges that he/she is fully acquainted with the Drawings and Specifications in accordance with which the Unit and the Scheme will be constructed as well as the nature thereof and the extent, and apart from the undertakings and warranties referred to herein and specifically under 7 hereof, the Seller give no further warranties subject however to the Purchaser s common law remedies regarding latent defects; 5. OCCUPATION AND RENTAL: 5.1 The Purchaser shall be obliged to take occupation of the Unit from the Occupation Date as specified in clause 1.25 provided that should the Unit not be available for occupation on that date, the Purchaser shall have no claim of any kind against the Seller or right of cancellation arising from failure to give occupation From the Occupation Date until payment of the Purchase Price in full, the Purchaser shall pay the occupational rental and estimated monthly levies. Such occupational rental shall be reckoned: On the Occupation Date for the period from the Occupation Date until the last day of the month in which the Occupation Date falls; Thereafter monthly in advance on the first day of each and every succeeding month; Occupational rental shall be calculated as 1% (one per centum) N$ of the Purchase Price, and shall be payable monthly from Occupation Date until Date of Transfer. 5.2 The Purchaser shall within 30 (Thirty) calendar days from Occupation Date or Transfer Date, furnish the Seller with a list of defects in the Unit. 5.3 The Purchaser acknowledges that the occupational rental and estimated monthly levy are due and payable by the Purchaser from the Occupation Date irrespective of whether or not the defects have been remedied. 5.4 The Purchaser agrees and undertakes to sign the necessary letter of compliance required by the Purchaser s bank on Occupation Date in order to enable the bond registration attorneys to uplift the retention on the Purchaser s bond, issue guarantees, lodge and register the Unit into the name of the Purchaser irrespective of whether or not the defects have been remedied. The parties agree and acknowledge that the Purchaser s signing of the said letter of compliance shall not extinguish or effect the Seller obligation as envisaged in clause CONDITIONS BEFORE AND AFTER OCCUPATION Before Date of Transfer, the Purchaser shall not be allowed any access or visiting rights to the Unit during the construction of the Unit or the Scheme comprising the Unit until Occupation Date by the 15

16 Purchaser and the issuing of a Completion Certificate, unless prior arrangements have been made with the Seller and/or his agents and their approval being obtained. From the Occupation Date (provided that such date is earlier than the Date of Transfer) and until the body corporate comes into existence, the Purchaser shall: 6.1 comply with the provisions of the Act and of the Rules which will be applicable to the Scheme on the basis that the Seller shall, until the body corporate comes into being, enjoy the same rights and powers as the body corporate and the trustees enjoy in terms of such Rules; 6.2 waive all claims against the Seller for any loss or damage to Property or for any injury to person which the Purchaser may sustain in or about the Unit, the Property or the Common Property and shall indemnify the Seller against any such claim that may be made against the Seller by any member of the Purchaser s family or the Purchaser s invitees, employees or agents for any loss or damage to Property or injury to persons suffered in or about the Section and/or Unit, the Property or the Common Property howsoever such loss or damage to Property or injury to person may be caused; 6.3 pay on demand all charges in respect of the electricity and other municipal services consumed or utilized in respect of the Unit on or before due date provided that, if the Purchaser fails to pay any such amount, the Seller shall be entitled to make payment thereof on the Purchaser s behalf and to recover same from the Purchaser, together with interest at the effective interest rate from the date on which such amount is disbursed by the Seller to the date upon which it is recovered, and to pay the charges raised by the relevant Local Authority for the commission and provision of electrical supply to the Unit; 6.4 be liable for and pay to the Seller or the appointed managing agent monthly in advance on the first day of each and every month the Estimated Monthly Levies calculated on the basis of the Participation Quota in respect of the actual total costs of managing, operating, administering, repairing, servicing and maintaining the Common Property including, without restricting the generality of the afore-going, rates, taxes, sewerage and sanitation, insurances of every description as determined by the Seller, services, salaries, wages, licenses, care and maintenance of the Common Property, the cost of water and electricity consumed in the Common Property, wages and other expenses and administration costs, including the cost of collection and recovery of the said costs and any assisted or frail care levies (all of which costs and charges are hereinafter referred to as total costs ). It is recorded that the Total Costs have been estimated and that in the event of such costs being greater than the actual costs incurred the excess shall be paid to the body corporate on its establishment in order to create a reserve. In the event of the estimate being less than the actual costs incurred the shortfall shall be contributed in accordance with the Participation Quota; 16

17 6.5 agree that the Seller reserves to itself the right, in terms of the Act, when submitting the application for the opening of the sectional title register, to make Rules under by which a different value is attached to the vote of the owner and/or the owner s liability and modify their liability to make contributions to the body corporate. 6.6 not do or permit to be done any act, matter or thing as a result of which any insurance policy held by the Seller in respect of the Building may be rendered void or voidable or as a result of which the premiums in respect thereof may be increased; 6.7 not make any alterations to the interior or exterior of the Section or Unit of whatsoever nature; 6.8 maintain the Section or Unit in clean and orderly conditions; 6.9 not be entitled to let or otherwise part with possession and occupation of the Section or Unit unless: the Purchaser has obtained the prior written consent of the Seller, which shall not unreasonably be withheld; the Purchaser has furnished the Seller with the full names and details of the tenant/occupier that the Purchaser intends to let or grant possession and occupation of the Unit to; the Purchaser has furnished the Seller with a copy of the lease agreement entered into between the Purchaser and his tenant/occupier, which lease agreement must include a clause stipulating that such tenant/occupier will be bound by the Rules; the Purchaser hereby undertakes and guarantees that his/her tenant and/or occupier will duly comply with all the Rules; the Purchaser hereby indemnifies the Seller against and agrees to be held liable for any damages or loss that the Seller may suffer as a result of the Purchaser s tenant s or occupier s failure to comply with the Rules; and 6.10 accept liability and consents to be liable for the purposes of this clause 6 for any legal costs on attorney client scale, incurred by the Seller or the managing agent to enforce the Rules against the Purchaser and/or his tenant/occupier; 6.11 not sell or otherwise alienate the Unit except with the prior written consent of the Seller which shall not be unreasonably be withheld; 6.12 agree that on the Occupation Date the Common Property and other sections may be incomplete and the Purchaser and/or other occupiers must necessarily suffer inconvenience from building operations and from the noise and dust resulting therefrom and that the Purchaser shall have no claim whatsoever against the Seller by reason of any such inconvenience; 6.13 agree that the Architects decision is final and binding upon the parties should any disputes arise between the Seller and the Purchaser as to the date when the Unit is available for beneficial occupation; 17

18 6.14 agree that the Architect s decision is final and binding upon the parties should any dispute arise between the Seller and the Purchaser as to whether any materials or workmanship is of the required standard; 7. SELLER S LIABILITY FOR DEFECTS IN UNIT AND COMMON PROPERTY AND OTHER CONDITIONS 7.1 The Unit is sold subject to the conditions, reservations and servitudes contained in the sectional title register and such conditions of sectional title as may be imposed by the Seller (Annexure B ), the Local Authority or Government or any other competent authority. 7.2 The Seller does not furnish any explicit or tacit guarantees in regard to the Property. The Purchaser acknowledges that he/she was not persuaded into entering this Agreement by any presentations made to him/her by the Seller or any representative of the Seller, other than what is contained in this Agreement. 7.3 The Purchaser shall be required to provide a detailed list of any defects and damage to the Unit within a period of 30 (thirty) calendar days after Date of Occupation or Date of Transfer (whichever is earlier). The said 30 (thirty) calendar days will commence at 12h00 midnight on the Date of Occupation and/or Date of Transfer. The Purchaser shall notify the Seller in writing of any defects, faults or errors occurring in the Unit, which notice to the Seller shall be regarded as a final list and either be delivered to the Seller s aforesaid address personally or be sent by means of registered post to the Seller s aforesaid address. The Seller shall repair all faults and errors at its sole and exclusive costs and expense if and when so notified thereof by the Purchaser in accordance with the provisions of this Agreement, and if it is confirmed by the Developer or his representative to be valid complaint, which repairs and retention works shall be done within 60 (sixty) calendar days from receipt of the Purchaser s list of faults and/or defects. 7.4 If the purchaser fails to attend to the inspection at the date and time agreed upon, then the Unit will be considered free from defects and in good condition, fair wear and tear excepted, other than for those disclosed by the Seller. The Seller may nevertheless elect to delay transfer until such time as the Purchaser has inspected the Unit. 7.5 The Seller shall be liable to rectify only those defects which were specified in the Purchaser s written notification given in terms of Clause 7.3 and which arose as a result of faulty workmanship and/or materials, and which are approved by the Development Management Committee, which shall be appointed by the Developer from time to time. 7.6 The Unit is offered for sale to the Purchaser in the specific condition in which it stands and the Purchaser shall have no claim against the Seller in respect of any defects, except as provided for in clause 4 and this clause 7. 18

19 7.7 The sale is also subject to all conditions and servitudes contained in or referred to in the title deed, to all limitations of use laid down by the statutory authority and/or the body corporate and to all conditions of any applicable town planning scheme or any sub-divisional requirement. 7.8 To the Seller best knowledge, no servitude or conditions of title relating to the said Property or condition laid down by any authority exist or is applicable which restricts the erection of building or structures, or the registration of the said sectional development scheme, in the form in which the said Architect Drawings and Specifications are prepared and drawn up. 7.9 The Seller undertakes to construct and complete the improvements to the Common Property shown on the plans prior to the opening of the sectional title register for the Scheme. The Henties Bay Municipal Council shall issue a certificate ( the Common Property Certificate ) confirming that the improvements to the Common Property have been completed. The Seller undertakes to repair: Any defect in the fixtures and fittings on the Common Property of which the Seller is advised in writing within 30 (thirty) calendar days from the date from which the Henties Bay Municipal Council issues the Common Property Certificate; The Seller shall be afforded a period of 60 (sixty) calendar days from the date of receipt of any notice in terms of 7.3 and 7.9 to effect the necessary repairs If there is any dispute of any nature between the parties arising from the provisions of 7.3 and 7.9, the dispute shall be referred to the Architect, whose decision in respect of the dispute shall be final and binding upon the parties The Purchaser shall not be entitled to claim cancellation of this Agreement or any reduction in the Purchase Price by reason of any minor variations between the plans and the Sectional Plan as finally registered or any alteration to the number, including any minor alteration to size, location or Participation Quota of any Section as reflected on the plans Although the Seller shall be liable within the period referred to in 7.3 and 7.9 to make good any cracks or defects, the Seller shall not be liable for any damages, whether direct, indirect or consequential arising from any other defects, including but not limited to any repair to or replacement of carpets, household goods, electrical appliances and the like, all of which shall be for the account of the Purchaser. 8. CESSION OF RIGHTS 8.1 Once the body corporate is established, the Seller hereby undertakes wherever possible to cede to the body corporate all its rights in respect of any guarantees or warranties provided to the Seller and by the contractors employed by it during the constructions of the Scheme. 8.2 If any right is ceded in terms of 8.1 above, the Purchaser acknowledges that the sole right to prosecute any claim in terms of any warranty shall vest in the body corporate only. The Purchaser therefore waives any claim which it might otherwise have had against the Seller in respect of any 19

20 defect in workmanship or materials covered by the warranty or guarantee ceded to the body corporate by the Seller. 8.3 Insofar as may be necessary, the Purchaser hereby authorizes and directs the body corporate, when established, to accept any cession of the Seller rights included in any warranty by any contractor as contemplated herein. 9. CONSTRUCTION SIZE AND SECTIONAL PLAN 9.1 The Purchaser acknowledges that the size and purchase price of the unit is based on the construction area size (refer to paragraph ) as set out in the building plans which may vary with up to 6% to the sectional plan. 9.2 The Purchaser acknowledges that the Sectional Plan has not yet been approved and hereby agrees that the exact boundaries forming a part of the Unit and Exclusive Use Areas shall be those shown on the final approved Sectional Plan. The Seller warrants that, subject to 9.3 below, the boundaries will be substantially in accordance with those set out in the annexures hereto, and that the undivided share of the Common Property apportioned to the Section shall be in accordance with the Participation Quota which is ultimately determined in terms of the Act upon approval and registration of the Sectional Plans. 9.3 The Purchaser shall not be entitled to claim cancellation of this Agreement or any reduction in the Purchase Price by reason of any alteration to the number, or minor alteration to the size or location of any Unit or Units or any increases or decreases in their number. The Seller undertakes that any alteration will be made only after due consultation with the Architect and with the Henties Bay Municipal Council. 9.4 The Seller undertakes to make every effort to ensure that the Units are constructed in accordance with the plans. However, the Purchaser shall be obliged to accept the Unit without any variation in the Purchase Price provided the deviation in the size of the Unit when complete does not constitute a material amendment than that reflected in the plans. 9.5 The Seller undertakes to make every effort to ensure that the Exclusive Use Areas are constructed and located substantially in accordance with the plans. However, the Purchaser shall be obliged to accept the Exclusive Use Areas allocated to the Purchaser without any variation in the Purchase Price. 9.6 If the boundaries or the area of the Section or Unit or any other section or building or the Participation Quotas differ in minor respects from the boundaries or areas or Participation Quota shown on the Site Plan or the number of the Unit being altered or the undivided share in the Common Property attaching to the Unit is altered, of the location and/or portion of the Unit and/or the Property being altered, the Purchaser undertakes to accept transfer of the Unit as defined and renumbered in the Sectional Plan approved by the municipality and the Surveyor-General. 20

21 9.7 The Purchaser acknowledges that the Unit plans and Specifications as well as the site development plan are subject to such changes as the Architect, the Seller and the Local Authority may deem necessary and the Purchaser shall have no claim against the Seller in respect of such amendment. 9.8 If there is any dispute between the Purchaser and the Seller as to whether the Unit and/or the Exclusive Use Areas have been constructed substantially in accordance with the plans and/or has been erected in substantially the location as reflected in the plan and/or whether there are any defects in the Unit due to defective materials and/or workmanship, then such dispute shall be referred to the Architect, acting as an expert and not an arbitrator, whose decision shall be final and binding upon the parties. 9.9 Any additional costs or expenses incurred as a result of any alteration or variation of the Architect plans shall be for the account of the Seller provided that the parties hereto specifically agree that that any additional costs in respect of amendments to the Architect plans done at the specific request of the Purchaser will be paid by the Purchaser immediately when requested thereto by the Seller Should the Purchaser request the Seller for any additional building work to be done to his/her Unit, then he/she will request the Seller in writing to furnish him/her with a written quotation for such works whereafter the Purchaser shall have 7 (seven) calendar days to accept the quotation in which event the amount of the quotation will be paid in advance to the Seller before any additional works can be performed For clarity purposes it is recorded that the following three methods for measuring areas exist, namely: Participation quota: The floor area of the section is used to calculate the participation quotas of the sections as listed in the participation quota schedule in terms of the Sectional Titles Act, 2009 (Act No. 2 of 2009). The floor area is measured by the Land Surveyor. This method is used to calculate the levies, rates and taxes Construction area: The entire built area. This is the sum of the areas measured at each covered floor level over the external walls to the external finished surface (SAPOA Methods of Measuring Floor Areas). This method is used by the architect to calculate the square metres sold Rentable area: Is quoted as the entire construction area, together with the supplementary and/or common areas stated separately (SAPOA - Methods of Measuring Floor Areas). 21

22 10. OPENING OF THE SECTIONAL TITLE REGISTER AND LEVIES The parties record that it is not possible for the Seller to pass transfer of the Unit to the Purchaser until such time as the Scheme is approved and the sectional title register is opened in terms of the Act. Accordingly: 10.1 the Seller undertakes, within a reasonable time and at its own expense, to take such steps as may be reasonably necessary to obtain the rezoning of the Property (if applicable), approval of the scheme and township (if applicable) and the opening of the sectional title register (and/or township register, if applicable); 10.2 notwithstanding anything to the contrary herein contained, if the sectional title register is not opened within two years of the Occupation Date or such further period as may be agreed in writing between the parties, the Purchaser shall be entitled to declare this Agreement null and void in which event: the Purchaser and every person claiming occupation through the Purchaser shall vacate the Unit and the Purchaser shall redeliver the Unit to the Seller in the same good order and condition as at the Occupation Date, fair wear and tear excepted; the Seller shall refund to the Purchaser any Deposits paid by the Purchaser in terms hereof plus interest thereon. The Purchaser shall not be entitled to a refund of any Occupational Rental and/or Estimated Monthly Levies, electricity or other municipal services paid by the Purchaser; save as herein provided neither of the parties shall in such event have any further claim whatsoever against the other of them arising out of the termination of this Agreement An estimated budget of the levies payable is attached hereto marked Annexure E. The levies in Annexure E shall be payable from date of issuing of completion certificate by the Henties Bay Municipality in respect of the unit to be constructed on the property and shall be adjusted from time to time, as the body corporate and service provider may deem fit from time to time 11. TRANSFER OF THE UNIT 11.1 It is the Seller s intention that transfer of the Unit into the name of the Purchaser shall be effected by the Seller s Conveyancers simultaneously with the opening of the sectional title register or as soon thereafter as may be reasonably possible The Purchaser hereby acknowledges that owing to the complexities and interrelated steps involved in opening of this Development and registering title to it for all the prospective purchasers, it is beneficial and in the best interests of the Purchaser that the Seller s Conveyancers attend to the registration of transfer of the Unit The Purchaser shall, within 7 (seven) Business Days of being called upon to do so by the Seller s Conveyancers at any reasonable time (having regard to the date when transfer can and should be 22

23 given) pay to the Seller s Conveyancers all costs of transfer (if applicable), furnish all such information, sign all such documents and pay all such amounts as may be necessary or required to enable the Seller s Conveyancers to pass transfer of the Unit Subject to the provisions of the Act, the Purchaser shall not, by reason of any delay in the transfer of the Unit to him due to any cause whatsoever, be entitled to cancel this contact or to refrain from paying, or suspend payment of, any amount payable by him in terms of this Agreement or to claim and recover from the Seller any damages or compensation or any remission of Occupational Interest or Estimated Monthly Levies The Architect shall certify in terms of the Act that the Scheme is substantially completed for occupation and that the Local Authority has approved the erected Scheme. 12. PAYMENT OF COSTS 12.1 It is the Seller s intention that transfer of the Unit shall be effected by the Seller s Conveyancers simultaneously with the opening of the sectional title register or as soon thereafter as may be reasonably possible All costs of relating to the transfer of the Unit including the costs hereof, the transfer duty and all other costs which have to be incurred in order to comply with the statutes, regulations and other enactment relating to the passing of the transfer of the Unit and the registration of the bond (if any) shall be paid by the Purchaser immediately when requested thereto by the Seller s Conveyancers, failing thereof or by default of which the Seller will be entitled to cancel this Agreement without any further notice and subject to the Seller s rights and remedies as set out in this Agreement provided that the Purchaser will not be obliged to make any such payment prior to the fulfillment of any suspensive conditions referred to herein Notwithstanding the provisions of any act or regulation, the parties agree that the Purchaser shall be liable for all stamp duty payable on this transaction whether or not the Seller might be legally liable thereto The Purchaser acknowledges that he/she is aware of the fact that he/she is liable to pay transfer duty within 6 (six) months from date of signature hereof, from which date interest rate at 10% per annum on the amount of transfer duty, will be levied. In order not to pay any interest on transfer duty, the Purchaser undertakes to pay transfer duty before expiration of the period of 6 (six) months to the Receiver of Revenue, Walvis Bay or to the Seller s Conveyancers and instruct them to pay same over to the Receiver of Revenue. Although the Seller s Conveyancers will endeavor to notify the Purchaser timeously of such payment, the Purchaser hereby indemnifies the Seller s Conveyancers and the Seller against any such claims. 23

24 12.5 The Purchaser will in all circumstances be liable for and pay the mortgage bond registration costs, including but not limited to, the bank s initiation and valuation fees as well as the costs of any other requirement of the Mortgagor It is recorded that the Purchaser s bank may require, before the retention on any bond may be uplifted, that the Scheme, despite the body corporate not having come into existence, are insured for the replacement value thereof and the Purchaser shall be liable for the costs of such insurance from Occupation Date and the costs of obtaining the necessary insurance certificate as may be required by such bank. 13. RISK, DAMAGE AND DESTRUCTION 13.1 All benefit of and risk in and to the Unit shall pass to the Purchaser on the Date of Transfer of the Unit Notwithstanding the provisions of 13.1 if, before the body corporate becomes into existence, the Scheme is damaged or destroyed in such a way that: the Purchaser is (or the parties agree that he will be) deprived of beneficial occupation of the Unit for a period in excess of three months either party shall have the right by notice to the other cancel this Agreement; or if any other Units in the Scheme are damaged or destroyed and the Seller reasonably considers it advisable to terminate the Scheme the Seller shall have the right, by notice to the Purchaser, to cancel this Agreement and in either event the provisions of 10.2 above shall apply mutatis mutandis Notwithstanding the provisions of the Rules the Seller shall, unless the contract has been cancelled in terms of 10.2 above apply any insurance proceeds received by it in respect of the damage or destruction of the Scheme to the repair and reinstatement of the Unit and any other damaged sections but shall not, in any way whatsoever, be liable to the Purchaser if there are no such proceeds or if such proceeds are inadequate to completely repair and reinstate the Unit It is recorded that the Seller intend, before the body corporate comes into existence, but without any obligation or duty whatsoever to the Purchaser, to insure the Scheme against such risks and for such amounts as it may in its sole discretion determine The premiums of such a policy will be paid by the Seller or the body corporate until date of registration of the Unit into the name of the Purchaser The Purchaser will not be allowed to do anything or to bring anything into the Property, the Unit, the Exclusive Use Area or Common Property which is not in terms of the insurance policy or which will have the effect of increased premiums. 24

25 14. ACCEPTANCE OF PLANS 14.1 If the Section forming part of the Unit is not completed as at the date of the last signature hereof, the Purchaser acknowledges having approved detailed Architect s plans of the Unit and Specifications setting out the materials and finishes to be used in completion of the Unit. The Purchaser agrees to accept delivery of the Unit as shown on the plans and completed in terms of the plans. The Purchaser agrees that the plans attached hereto accurately represent a fair and adequate description of the Unit in accordance with the Architect s plans referred to above. A Certificate of Completion, issued by the Henties Bay Municipal Council shall be proof of completion certifying that the Scheme comprising the Unit as well as the Unit itself have been constructed in accordance with the Drawings and the Specifications, and that according to the Henties Bay Municipal Council s professional opinion the Unit and the Scheme have been completed and ready for beneficial occupation and the Purchaser shall not be entitled to withhold payment of any moneys once he has been provided with such certificate. Any instruction to the contrary from the Purchaser to retain any amount as retention will constitute a breach of this Agreement The Purchaser acknowledges that from time to time certain items set out in the schedule of finishes may not be available at the time of construction. If this occurs, the parties agree that the Seller shall be entitled to substitute such items with items of the same quality, provided that if any such substitution is required, the Architect shall confirm in writing that: the originally specified item is not available; and he or she is satisfied that the substituted item is of the same quality as the item originally specified. 15. RIGHTS OF SELLER 15.1 Pending establishment of the body corporate the Seller shall be entitled to: make conduct Rules for the use and enjoyment of the Common Property; enter the Unit at all reasonable times or to authorize its agents or workmen so to enter, to inspect same or to carry out repairs; to exercise all the rights and powers which a body corporate would be entitled to exercise in terms of the Act in respect of the Scheme, the property and the owners and/or occupants of Units Pending the transfer, the Purchaser hereby appoints the Seller or the Seller s nominee, irrevocably and in rem suam and with power of substitution, to be his lawful agent and attorney to convene a meeting of the body corporate and there to vote in favour of any resolution of the body corporate to amend the Rules or pass any other resolution as may be required; by any bondholder for the grant of its consent to the opening of the sectional title register; 25

26 by the local or provincial authority and/or by a mortgagee prior to the grant of a sectional mortgage bond over a Unit in the Scheme; by the Seller in order to ensure the proper and efficient management and control of the Scheme, or to ensure that the Seller are able to exercise in full their rights to develop the Scheme further; and to sign all documents necessary or required to comply with the Purchaser s obligations in terms of this Agreement. 16. BREACH BY PURCHASER If the Purchaser defaults in the payment of any sum whatsoever payable by him in terms hereof or breaches any of his other obligations (all of which are agreed to be material) hereunder or in terms of the Act or the Rules and fails to remedy such default or breach within 10 (ten) Business Days of the dispatch of written notice requiring the remedy of such default or breach, the Seller shall be entitled, without prejudice to any other rights available to it in terms of this Agreement or in law: 16.1 to claim and recover from the Purchaser forthwith the whole of the balance of the Purchase Price then outstanding together with interest thereon reckoned as herein before provided up to the date of payment of such balance as well as all other sums for which the Purchaser may then be liable in terms of this Agreement, including, but not limited to, any costs (as between attorney client) incurred by the Seller in exercising its rights under or enforcing the provisions of this Agreement in addition to costs of attendance whether action has been instituted or not, and including costs of tracing; provided that if the Purchaser fails to make payment as provided for in terms of this subclause, the rights of the Seller under this Agreement shall not be exhausted and the Seller shall notwithstanding the election to claim immediate payment be entitled to exercise any of the rights available to it in terms hereof or at law; or 16.2 to cancel this Agreement, repossess the Unit and claim from the Purchaser such damages as it may have sustained by reason of the cancellation; or 16.3 If the Agreement: is cancelled as a result of breach by the Purchaser of any term or condition of the Agreement; the Purchaser shall be obliged to pay a cancellation fee equivalent to the initial deposit to the Seller. This amount shall be appropriated directly from any monies held by the agent of the Seller s Conveyancers, who are hereby authorized and directed to release the said amount to the agent forthwith. If the Agreement is cancelled or lapses as contemplated in above, this provision shall not limit the Seller s right to recover from the Purchaser damages arising from the breach. 26

27 17. SALE CONDITIONAL UPON LOAN 17.1 This offer is subject to the suspensive condition that the Purchaser is able to raise the loan amount within 30 (thirty) business days of date of signing hereof by the Purchaser upon the security of a first mortgage of the Unit and on conditions comparable to those normally imposed by the said bank This condition shall be deemed to be fulfilled immediately when a letter is issued by a financial institution stating that the loan has been approved in principal If the loan is not approved in principal by the date referred to above, the period for the raising thereof may be extended at the discretion of the Seller for such further period as the Seller may determine, not exceeding a further 30 (thirty) business days The Purchaser undertakes to take all steps reasonably necessary to obtain the said loan within the period stated. If the Purchaser fails to take such steps or if he fails to comply with or accept any condition reasonably imposed by any potential lender, the Seller shall be entitled at its election to regard this suspensive condition as having been fulfilled and thereafter exercise its rights in terms of 16 above The Purchaser undertakes, on signature of this Agreement, to hand to the agent a duly completed application addressed to the financial institution of the Purchaser s choice for a loan amount The Purchaser hereby warrants that he/she is aware of the requirements regarding income and assets set by financial institutions in order to grant a loan in the loan amount and hereby warrants that his/her financial position is sufficient for this purpose The Purchaser, shall at any time prior to the due date for fulfillment thereof, be entitled to waive such condition by written notice to the Seller and in such event the Purchaser will be obliged to furnish guarantees as provided in clause above. 18. DOMICILIUM 18.1 The parties choose their domicilium citandi et executandi for all purposes under this Agreement whether in respect of court processes, notices or other documents or communications of whatsoever nature, at the following addresses: The Seller: Physical address, and Postal address: as per item A of the Schedule above The Purchaser: Physical address and Postal address: as per item B.1, B.2 and B.3 of the Schedule above. Telephone numbers, telefax number as per item B.1, B.2 and B.3 of the Schedule above; and after the occupation date, the unit Any party shall be able to change his domicilium citandi et executandi on written notice to the others. Such change of domicilium citandi et executandi shall take effect on the fourteenth day after the delivery to the other parties of the notice referred to therein. 27

28 Any notice addressed to a party at its physical address or postal address shall be sent by prepaid registered post, or delivered by hand, or sent by telefax All notices in terms of this Agreement shall be in writing and shall be either: Delivered by hand to the domicilium citandi et executandi of the other party, in which case it shall be deemed to have been given and such other party shall be deemed to have been informed of the contents of the notice when the notice is so delivered; or Posted by prepaid registered post to such other party at the domicilium citandi et executandi of the other party, in which case it shall be deemed to have been given to the other party and such other party shall be deemed to have been informed of the contents of the notice on the 3 rd (third) day after posting Sent by to the domicilium citandi et executandi of the other party, in which case it shall be deemed to have been given to the other party and such other party shall be deemed to have been informed of the contents of the notice on the day on which it was sent by Sent by facsimile to the domicilium citandi et executandi of the other party, in which case it shall be deemed to have been given to the other party and such other party shall be deemed to have been informed of the contents of the notice on the day on which it was sent by facsimile. 19. AGENT AND COMMISSION 19.1 Agent s commission on this sale shall become due and payable on the fulfillment of any suspensive conditions contained in this Agreement, and shall be paid by the Seller to the Agent as agreed between the Seller and the Agent and shall be payable on registration of transfer of individual Units. However, if the Purchaser commits any breach of this Agreement, the Purchaser shall be liable for the Agents commission which shall become due and payable by the Purchaser to the Agent immediately upon the commission of such breach The Purchaser hereby warrants that the Agent who introduced him/her to the Unit is the only Agent and hereby indemnifies the Seller against any claim that may be made by any other agent in respect of the sale of the Unit The Seller shall be responsible to pay Agent s commission in the amount of N$ ( Namibia Dollars) VAT exclusive, free of bank and other charges which amount shall be payable to the Agent. The Seller hereby permits the seller s Conveyancers to pay the said amount to the said Agent out of monies received by the Seller s Conveyancers on behalf of the Seller. 28

29 20. CAPACITY OF PURCHASER 20.1 Should the Purchaser sign this Agreement as trustee or agent for a company or close corporation to be formed, the signatory shall be deemed to be personally liable in terms of this Agreement should the company or close corporation not be incorporated or not ratify and adopt this agreement within 14 (fourteen) calendar days of the date of signature hereof. Upon incorporation and ratification as aforesaid the Purchaser by his signature hereto binds himself as surety for and coprincipal debtor in solidum with the company or close corporation for the due and punctual performance by the Purchaser of its obligations arising out of this Agreement. The Purchaser shall be obliged to furnish the Seller Conveyancers with written proof of such incorporation and adoption, failing which the signatory shall be the Purchaser in his/her personal capacity Should the Purchaser be married in Community of Property he/she warrants that his/her spouse shall forthwith countersign this Agreement where indicated at the foot hereof and thereby: contractually assist him/her herein as far as may be necessary, if at all; and bind him/herself as surety and co-principal debtor jointly and severally with him/her for all his/her obligations arising from this Agreement; and commit himself/herself also to assist and so bind himself/herself of the Purchaser s application and to procure a mortgage loan and in respect of the mortgage loan itself, as contemplated in clause 17 hereof, should any proposed mortgagor so require Should there be a plurality of the Purchaser s in terms of this Agreement, their obligations arising from this Agreement shall be joint and several. 21. OFFER TO PURCHASE Signature of this Agreement by the Purchaser shall be deemed to constitute an offer by the Purchaser to the Seller to enter into this Agreement. This Agreement shall be binding on the Seller only when duly signed by them until which time no obligation or liability on the part of the Seller shall be deemed to exist. It shall not be necessary for the Seller to communicate to the Purchaser their acceptance of the offer constituted in terms hereof for this Agreement to become valid and binding. 22. SUSPENSIVE CONDITION This entire agreement is subject to the suspensive conditions that: 22.1 Approval by Local Authority; 22.2 the Development Plan is approved by the relevant Local Authority Successful Sale of Units as required: The Seller sells no less than 60% (sixty percent) of the proposed sectional title Scheme namely 24 (twenty four) of the total number of units by not later than 31 December

30 A sale herein will only constitute as a successful sale once the finance of the Purchaser of such Unit has been officially approved and a letter of undertaking securing the Purchase Price thereof has been received by the Seller and/or the Seller s Conveyancers Developer s Loan: That the Developer is successful in obtaining a finance loan from any Bank or financial institution for the total financing costs of the aforesaid Development; and That such loan will only be granted on the basis that the required sales as provided for in hereof has been achieved. These conditions are inserted for the benefit of the Seller only and can be waived by him/her at any time. 23. SUBDIVISION OF PROPERTY AND PHASED DEVELOPMENT 23.1 The Purchaser acknowledges that the Seller may, instead of developing any phase, elect to subdivide that portion of the land on which the phase was to be developed from the Property as defined herein, take transfer of the subdivided portion and develop the subdivided potions as it may deem fit. In order to enable the Seller to give effect to the above, the Purchaser hereby grants to the Seller an irrevocable power of attorney to convene and attend on the Purchaser s behalf any meeting of the body corporate at which any resolution relating to the above is on the agenda and there to vote in favour of any resolution the Seller may deem necessary in order to subdivide and transfer the affected property and provide for any servitudes which may be necessary to permit the proper development of the subdivided property The Purchaser acknowledges that he/she is aware that the Seller may decide to develop this Property in stages by erecting and completing from time to time further building and/or structures, to divide such building into Units and confer the exclusive use or sole utilization over parts of such Common Property upon the owner or owners of one or more of such Units and to reserve its right in this regard in accordance with the provisions of the Act The parties hereto specifically agree that the Seller as Developer will have the right to extend the Development in terms of the Act if in the opinion of the Seller and/or Developer such and extension deems necessary and financially viable or by adding to the existing section by the construction of additional building in further phases and thereby increasing the number of units comprising the total scheme in terms of and as indicated on the Architect Drawings and for that purpose: No person whose consent is required in terms of the Act shall be entitled to withhold his/her written consent to the Seller as Developer, the body corporate or any owner of a Unit preparing and submitting a scheme to the Local Authority in terms of the said extensions for approval and upon such approval, taking all the necessary steps to extend the scheme in further phases in such a manner that all new sections as build are to be 30

31 added to, and thereafter applying for the registration of a sectional plan in respect of such phase, provided that such extension shall harmonize with the existing building on the Land The Purchaser hereby authorizes the Seller as Developer, the body corporate or any owner irrevocably and in rem suam to erect any such extensions in terms of the Act, and undertakes to sign the simultaneously the necessary and prescribed consent The Purchaser shall be obliged to allow the Seller, or its successor in title, to exercise its rights to develop the Units in the manner envisaged here, and shall not be entitled to interfere with or obstruct the Seller in any way from erecting the said building on the Common Property The Purchaser warrants that he/she is aware that the Seller may elect to vary the Site Plan and the Sectional Plan by interchanging Units and/or Exclusive Use Areas reflected on the Site Plan. Insofar as may be necessary, the Purchaser hereby agrees to accept such variation and authorizes the Seller to vote at any meetings on his behalf to amend the Participation Quotas of the Scheme in order to reflect the said amendment, provided that, should such variation occur the Seller shall adjust the Purchase Price accordingly in line with the interchanging Units and the amended Participation Quotas The Purchaser acknowledges that after the completion of the Unit, the Seller and/or their agents, contractors and workmen may be engaged in erecting other building and/or structures on the Property and the Purchaser agrees that the Seller and/or their agents, contractors and workmen shall at all times have reasonable access to the Property for the purposes of carrying out such work as may be necessary to enable the Seller to procure the erection and completion of the aforementioned dwellings and/or structures. The Purchaser shall have no claim whatsoever against the Seller by reason of any inconvenience or interference with the Purchaser s rights arising from this Agreement and the Purchaser shall not, in any way whatsoever, interfere with the performance of the said work The Purchaser agrees and acknowledges that he/she is aware that the Occupation Date cannot be deferred by the Purchaser on the basis that all the stages of the development are not complete as at the Occupation Date The Purchaser further agrees and acknowledges that he/she is aware that Occupational Interest and the Estimated Monthly Levy cannot be withheld on the basis that all the stages of the Development are not complete as at the Occupation Date The Purchaser further agrees and acknowledges that the access to phases 1, 2 and/or 3 of the scheme (if applicable), the scheme as a whole and/or the Unit may be incomplete and be diverted while the construction of the other phases is in progress No person shall have any right to or in any Unit comprised in the said extensions, of which extensions the Developer shall be the sole owner, and schedule endorsed on the Sectional Plan 31

32 shall specify the quota in respect of the said new sections as if the extensions had originally formed part of the Building shown hereon No owner shall be entitled to refuse to acknowledge and accept that upon registration of the Sectional Plans of the aforesaid extensions their Participation Quotas will be reviewed and adjusted as provided for in the Act. 24. SERVITUDES AND CONDITIONS: 24.1 The Purchaser acknowledges that the Seller may require the registration of servitudes of access, services and the like to be registered over the Property in favour of adjoining erven. In order to enable the Seller to register the said servitudes, the Purchaser hereby grants the Seller an irrevocable power of attorney to convene and attend as the Purchaser s proxy any meeting at which the grant and registration of such servitudes is on the agenda The Unit is sold subject to: all the conditions, restrictions and servitudes (if any) to be contained in the title deed; the rules; the conditions as set out in Annexure B to be registered against the sectional title register of the property in the Deeds Office, Windhoek In order to give effect to the development concept of the Seller and in order to protect the mutual interests of the owners of units situate within the scheme the Purchaser irrevocably agrees that the Seller shall prior to transferring the unit into the name of the Purchaser, enter into an agreement with the Body Corporate in terms whereof a Notarial Deed of Imposition of Conditions shall be registered against the title deed of the unit such Notarial Deed to reflect in essence the conditions referred to in Annexure B together with such other title conditions as referred to in this agreement. To the extent that the said conditions referred to herein are a concept, the Purchaser agrees that the Seller has the discretion to amend the conditions for purposes of practicality and suitability to Namibian legislation and market conditions, however, in exercising this discretion the Seller shall endeavor to maintain the essence of the provisions of Annexure B To the extent deemed necessary by the Conveyancers, the Purchaser binds himself/herself; to enter into a Notarial Deed of Conditions with the Seller containing the conditions set out in Annexure B. 25. WITHOLDING PAYMENTS Subject to the provision of section 7.3 herein, if any work is still required to be done to the Unit at the time of issuing a Completion Certificate by the Local Authority, the Purchaser shall not be entitled to withhold, set off or retain any amounts owing by the Purchaser to the Seller nor shall the Purchaser be entitled to withhold or abate payment of any amount due to the Seller in terms of this Agreement by reason of any breach or alleged breach of the Seller s obligations herein. 32

33 26. RESALE AND SUBSTITUTION PRIOR TO DATE OF REGISTRATION OF TRANSFER In the event of the Purchaser selling or purporting to sell or alienate or disposing of his/her Unit purchased therein by way of a resale or alienation or disposition prior to date of registration of transfer, the parties agree that the following conditions will apply: 26.1 The Henties Bay Golf and Lifestyle Estate is a phased development and therefore needs a structured approach to marketing of re-sales and new units for sale. Consequently the Purchaser hereby appoints any one of the Approved Marketing Agents to market and sell the Unit in the event of the Purchaser wishing to re-sell the Unit The Seller shall only be accountable and personally liable to the Purchaser for the compliance of any term and condition hereof and not to any successors in title or subsequent Purchaser; 26.3 The Purchaser shall remain liable to comply with all the terms and conditions hereof personal, failing which the Seller shall be entitled to revert to its remedies referred to in clause This Agreement or any party thereto shall not be substituted in any manner by any subsequent agreement entered into between the Purchaser and any other third party prior to the date of registration and the Seller shall not agree to any cession of its rights pursuant to this Agreement or to any transfer directly to the subsequent Purchaser No successor in title shall negotiate directly with the Seller or the Developer in respect with any of the Specifications applicable to the Unit and the Seller shall not entertain any such requests without any prior approval by the Seller; and 26.6 No successor in title shall be entitled to enter or visit the premises for purposes of inspection of the Unit without prior arrangement by the Purchaser without the prior approval by the Seller. 27. NO MATERIAL ADVERSE EVENT 27.1 No Material Adverse Event shall have occurred in the sole and reasonable discretion of the Seller, which have a material adverse change or effect on the Seller s ability to perform and/or comply with any of his obligations under this Agreement In the event of the occurrence of such event, the Seller shall give the Purchaser notice of their decision not to proceed with the development within 90 (ninety) calendar days from date of the occurrence of such event In the event of clause 22.1, 22.2 and 22.3 not being fulfilled or in the event of a Material Adverse Event referred to in this clause 27, then this Agreement shall terminate and be of no force and effect and all sums already paid by the Purchaser shall be refunded together with any accrued interest. Upon such refund no party shall have or retain any further claim of whatsoever nature against the other party arising from or under this Agreement. 33

34 27.4 In particular, no claim for damages of any nature whatsoever, shall lie against the Seller. The Seller, however, undertakes and binds itself to take all reasonable steps and to do all such things as may be reasonable in order to achieve the aforesaid aims and objectives Notwithstanding any provision to the contrary herein contained, the Seller in its sole discretion shall have the right to resile from this Agreement, should the Seller not achieve the required sales to proceed with the Development within the period provided for, or should the Seller fail to obtain the necessary approvals from all competent authorities as may be required for the development comprising this Scheme or procure the require Development finance. Such aforementioned time period may be extended for a further period of 3 (three) months, should the Seller require such extension of time by the Seller giving the Purchaser a notice to such effect before expiry of the initial period subject to the following: should the Seller elect to resile from this Agreement, it shall give notice to the Purchaser to that effect, in which event this Agreement shall lapse and become null and void, and all amounts paid by the Purchaser shall be refunded together with interest earned thereon. 28. GENERAL 28.1 This Agreement represents the entire agreement between the parties. No other terms, conditions, stipulations, undertakings, representations or warranties shall be of any force or effect save as expressly included herein. No variation of or addition to or consensual cancellation of this Agreement or this clause and no waiver by the Seller of any of its rights hereunder shall be of any force or effect unless reduced to writing and signed by or on behalf of both parties If this Agreement is signed by more than one person as Purchaser, the obligations of all the signatories shall be joint and several. If this Agreement is not signed by all the persons named as Purchasers, this Agreement shall nonetheless be and shall remain binding on the Purchasers who have signed this Agreement No latitude, extension of time or other indulgence which may be given or allowed by the Seller to the Purchaser in respect of any of his/her obligations in terms of this Agreement shall constitute a waiver, abandonment or novation of the Seller rights in terms hereof The Purchaser shall pay all the costs and charges incurred by the Seller including attorney and own client charges and collection commission incurred by the Seller in recovering any amount due in terms of this Agreement or in enforcing any provision of this Agreement All clauses in this Agreement are separate and severable from each other and shall each be capable of standing on their own. Any provision or clause of this Agreement which is or becomes enforceable or illegal or void may be removed or severed from this Agreement as if it never formed part of this Agreement while the remaining provisions or clauses shall continue to operate and be of full force and effect. 34

35 29. JURISDICTION The Seller and the Purchaser hereby consent in terms of Section 45 of the Magistrate s Court Act, No. 33 of 1945, as amended, to determine any action or other legal proceedings arising out of this Agreement. Notwithstanding anything aforesaid, the Seller shall not be bound to bring any action arising from this Agreement in or before a Magistrate s Court, but may do so in any other court of competent jurisdiction should he so wish. 30. MANAGING AGENT It is recorded that the Seller shall have the right (but shall not be obliged) to appoint the Managing Agent, who shall hold office for the first 2 (two) years of the Body Corporate, to act as professional managers of the Building and the Property in terms of the draft Rules. 31. SELLER FURTHER RIGHTS AND OBLIGATIONS 31.1 The Seller and/or Developer undertakes to complete the Development within 16 months, excluding builder s holiday, from the Commencement Date The Seller shall be entitled to utilize any portion of the Property until the expiry of the Development period for sales and market office The Seller intends to develop and market the Development as the Seller deems fit and for the duration of the Development period the Seller shall enjoy unrestricted rights with regard to the marketing of the dwelling Units and in particular the right to erect signage within the Development. 32. SUCCESSORS-IN-TITLE The parties to this Agreement hereby bind their heirs, executors, administrators or assigns and successors in title to the terms of this Agreement. SIGNED by the Purchaser at on 20. Witness Purchaser Witness Purchaser (if applicable) 35

36 SIGNED by the Seller at on 20. Witness Witness Seller 36

37 ANNEXURE A FIA DECLARATION 37

38 FIA DECLARATION Ellis Shilengudwa Incorporated Legal Practitioners is an Accountable Institution in terms of the Financial Intelligence Act no. 3 of 2007 and as such liable to verify the identity of all business parties as well as the origin of any money received to refrain from engaging in any money laundering transaction and to prevent the receipt of any proceeds of unlawful activities. Ellis Shilengudwa Incorporated Legal Practitioners is legally obliged under criminal sanction, to report any transaction of a suspicious nature to the Bank of Namibia. Any cash sum received into our accounts will be reportable unless documentary proof of the origin and/or declaration at import thereof is provided to our satisfaction. All prospective clients with whom a business relationship is entered into must complete the following declaration: File reference: I, the undersigned Full names: Nationality: Identity number / Date of birth / Passport no.: representing / acting on behalf of Registration no. or ID no.: annex a copy of my (document) and a copy of the following documents in identification of my principal and my authorization to act (company / cc / trust / Association documents and resolution / power of attorney) The directors in case of a company / members of close corporation are as follows: 38

39 My/our addresses are: Domicile: Residential / Office / Registered Office: P O Box: and my/our contact no.(s) : (h) (o) (Cell) The nature and location of my/our occupation or business activities are as follows: Nature of transaction: The origin of the money deposited herein is as follows: and I annex proof thereof as follows (document[s]) : DATE Purchaser 39

40 ANNEXURE B ALIENATION AND TITLE DEED CONDITIONS 40

41 ALIENATION AND TITLE DEED CONDITIONS The Unit shall be subject to the following conditions in favour of the SELLER and the body corporate of THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, namely:- 1.1 Every registered OWNER of a Unit within THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS Development ( THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS ) or any interest therein and his/her successors in title shall automatically upon registration of transfer and by virtue of such ownership become and remain a member of THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS Body Corporate and remain bound by its Management and/or Conduct Rules and Regulations adopted by the said Body Corporate until the OWNER ceases to be an owner as aforesaid. 1.2 No OWNER of the Unit, or of any interest therein or thereto, and/or his successors in title, shall be entitled to sell or transfer the Unit, without the Body Corporate s prior written consent, which will not unreasonably be withheld and which consent will only be given once the Body Corporate has satisfied itself that all conditions imposed upon the OWNER referred to hereinafter have been met and complied with; 1.3 The OWNER shall pay all levies and other amounts owning as at the date of transfer by the OWNER to the Body Corporate; 1.4 The OWNER of a Unit shall only be entitled to sell or alienate in any manner, (which includes the sale of shares in the case of a company, members interest in the case of a close corporation or the change of beneficiaries in the case of a trust, donation or testamentary or intestate dispositions) the Unit to a third party after such OWNER, his executor, trustees or assigns has: first obtained the written consent from the Body Corporate, which consent will not be unreasonably be withheld; and referred the written offer to purchase the Unit to the Seller, in which case the Seller will have the pre-emptive right to purchase the Unit at the same price and conditions contained in the offer to purchase. 1.5 The restriction in above shall not apply to the registration of a mortgage bond over the unit by the owner. 1.6 In the event of the Seller exercising its pre-emptive right such written notification must be conveyed in writing to the OWNER within 14 (fourteen) days after receipt by the Seller of the offer to purchase. If the Seller does not exercise its pre-emptive right timeously, as contemplated in this clause, or notified the OWNER accordingly in writing, as the case may be, the OWNER or his assigns will then be entitled to alienate the Unit to the purchaser referred to in the offer to purchase at the same price and conditions therein, subject to the payment of all levies and contributions due to the Body Corporate; 41

42 1.7 The alienation of the Unit by the OWNER or his successors in title shall further be subject to the payment of the following levies and contributions, namely: An amount equal to 5% (five percentum) of the re-sale price or the value determined in accordance with these conditions to the Facility Provider to be appointed by the Developer; 1.8 The OWNER or his assigns will be liable to issue a bank guarantee for the amounts due to the Body Corporate, which guarantee must be to the satisfaction of the said attorneys and payable against transfer of the Unit into the name of the purchaser. 1.9 The above pre-emptive right shall be applicable ad infinitum on every Unit in THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS and may only be varied or cancelled with the written consent of the Seller and the Body Corporate The Unit may only be permanently occupied by persons older than 48 (forty eight) years of age The OWNER of the Unit shall not make any application for the rezoning, consolidation or subdivision of his unit without the prior written consent of the Body Corporate, or failing the Body Corporate, the Seller The Unit shall be subject to a right of access by employees and/or agents of the Body Corporate and the Seller for the purpose of the construction and maintenance of Municipal related services in respect of water, sewerage, drainage, electricity, gas and telecommunication services and shall include any roads, any pathways and any other services or amenities which right includes the right to place on such Unit any material that may be excavated on the Unit or any adjacent Unit The OWNER or his successor in title shall be entitled to make use of all private roads, and pathways including any common facilities and amenities constructed within THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS, the ownership of which will vest in the Body Corporate, which right shall be so vested in perpetuity The OWNER shall be required to pay such levies and charges as may from time to time be imposed and levied by the Body Corporate in order to meet the expenses of the Body Corporate, including the costs of certain services, facilities and other amenities rendered by the Body Corporate, within THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS The above conditions are imposed for the benefit of the Seller and/or the Body Corporate, as the case may be and insofar as it is applicable and as such it constitutes a stipulation alteri which benefits it may be enforced by any of them. 42

43 ANNEXURE C SPECIAL POWER OF ATTORNEY 43

44 PREPARED BY ME Conveyancer SPECIAL POWER OF ATTORNEY I/We, the undersigned,, Identity Number Married out of community of property/ in community of property in my personal capacity and/or in my capacity as Member/Director/Trustee of CC, Registration Number:, or (Pty) Ltd, Registration Number: or Trust No: (Delete where not applicable) do hereby nominate, constitute and appoint any Director of or any Partner of Ellis Shilengudwa Incorporated with Power of Substitution, to be my lawful Attorney and Agent and in my name, place and stead and on my behalf to attend to any meeting of THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS body corporate and there and then on my behalf to 1. Vote in favour of a resolution to amend the Conduct and Management Rules of the Body Corporate to reflect the Rules as set out in Annexure I of the Agreement of Sale; and 2. On my behalf grant or sign any consent, approval, or any document required in terms of clause 15 of the Agreement of Sale. And generally for effecting the purposes aforesaid, to do or cause to be done whatsoever shall be requisite, as fully and effectually, for all intents and purposes, as I/We might or could do if personally present and acting herein - hereby ratifying, allowing and confirming and promising and agreeing to ratify, allow and confirm all and whatsoever my/our said Attorney and Agent shall lawfully do, or causes to be done, by virtue of these presents. SIGNED at this day of 20, in the presence of the undersigned Witnesses. Witness Witness Purchaser 44

45 ANNEXURE D SITE PLAN 45

46 ANNEXURE E PARTICIPATION QUOTA AND LEVIES 46

47 THE HENTIES BAY GOLF & LIFESTYLE ESTATE THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS PARTICIPATION QUOTA AND LEVIES 1. It is recorded that the applicable levy is determined from time to time at the Annual General Meeting of the Body Corporate, which meeting will be held within 4 months from the end of each financial year. The monthly care levies shall be determined by the Joint Management Committee in consultation with the Service Provider. 2. It is further recorded that the occupant of a unit is responsible to pay the monthly care levy as from the date of signature of the services agreement between the resident and the appointed Service Provider. 3. It is recorded that the final levy will be determined and adopted at the first annual general meeting of the body corporate, which meeting will be held within 6 months from the opening of the Sectional Title Register in the Deeds Office. The proposed/ estimated levies are as follows: Unit type Description Size Owner levy Month 1-6 Owner levy Month 7 Assisted Living 47

48 ANNEXURE F FLOOR PLAN LAY-OUT: THE HENTIES BAY GOLF & LIFESTYLE APARTMENTS 48

49 ANNEXURE G FLOOR PLAN LAY-OUT: UNIT 49

50 ANNEXURE H SPECIFICATION LIST 50

51 ANNEXURE I ACKNOWLEDGEMENT OF RECEIPT OF RULES 51