DOUBLE STOREY RETAIL BUILDING WITH 5 TENANTS. TUESDAY 24 th NOVEMBER 12H00 THE WANDERERS CLUB, 21 NORTH STREET, ILLOVO, SANDTON, GAUTENG

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1 PROPERTY INFORMATION PRETORIA CBD 27 SISULU STREET, PRETORIA CENTRAL DOUBLE STOREY RETAIL BUILDING WITH 5 TENANTS Erf Size: 530M 2 Net income: R per annum AUCTION DATE: AUCTION VENUE: TUESDAY 24 th NOVEMBER 12H00 THE WANDERERS CLUB, 21 NORTH STREET, ILLOVO, SANDTON, GAUTENG CONTACT: ISMAIL HENDRICKS /

2 TABLE OF CONTENTS 1. Opportunity Summary 3 2. Auction Conditions of Sale Summary 4 3. Financials 5 4. Property Information 9 ANNEXURES Annexure A: Locality Annexure B: Zoning Certificate Annexure C: Rates & Taxes Annexure D: Conditions of Sale Annexure E: Bidder Registration Form TERMS & CONDITIONS: Bidders must register and bring ID, proof of residence (FICA) and letter of authority to sign on behalf of a juristic entity. Rules of auction are available at and at our offices. The auction is conducted in terms of the regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. 2 Disclaimer: Whilst all reasonable care has been taken to obtain the correct information, neither Broll Auctions and Sales (Pty) Ltd, nor any of its subsidiaries and related companies, nor the Sellers, guarantee the correctness of the information, and none of the aforementioned will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information supplied, whether due to the negligence or otherwise of Broll Auctions and Sales and its subsidiaries and related companied, the Seller, or any other person.

3 OPPORTUNITY SUMMARY Description Erf Size 530m² Zoning Business 1, Use Zone 6 Gross Lettable Area Approximately 975m 2 Tenancy Current Year Rental Income R Recoveries R Gross Income (incl recoveries) Retail building generating income from 5 tenants Excellent location at the intersection of a major taxi transport hub in the area Excellent direct street exposure onto Sisulu street Large foot and vehicle traffic Pay Less Supermarket Beta Cleaning O Bolarin Ganyu Motors Christiaan Life Gospel Centre R Expenses R Net Income R

4 AUCTION CONDITIONS OF SALE SUMMARY Auction Registration Refundable Fee Deposit Auctioneer s Commission TAX Confirmation Period Tenancies R payable before the auction sale via EFT, Bank Guaranteed Cheque or Credit Card Complete the Bidder Registration Form (Annexure F) Should you not be the successful bidder, we will immediately refund the registration fee. A deposit of 5% (five per cent) of the Purchase Price payable to the AUCTIONEER by the PURCHASER immediately on the fall of the hammer. The PURCHASER shall be liable for and pay AUCTIONEER S commission of 10% (ten per cent) of the Purchase Price, plus VAT thereon, which commission is payable immediately upon the fall of the hammer. Property either attracts VAT or Transfer Duty Property is sold Subject to Seller s Confirmation Confirmation Period: 18H00 on the 27 th day of November 2015 Property is sold subject to all existing tenancies 4

5 FINANCIALS 27 SISULU STREET Monthly Rental (Ex Vat) Annualised Rental 1 Beta Clean R R Pay Less Supermarket R R Christian Life Gospel Centre R R Ganyu Motors R R O Bolarin R R Total Rental R R Recoveries Electricity R R Total Recoveries R R Gross Rental Income R R Expenses Electricity R R Water R R Property Rates R R Waste Management R R Sanitation R 485 R Total Expenses R R Net Income R R

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9 PROPERTY INFORMATION 1. Legal Information Property Address: Suburb and City: Pretoria Local Authority: Tshwane Local Municipality Province: Gauteng Erf number: Portion 3 of Erf 78 Township: Pretoria Erf Extent: 530m² Title Deed Number: T144815/2005 Registered Owner: YUSMOH INV PTY LTD 3. Town Panning The property is zoned Business 1, Use Zone 6 in terms of the Tshwane Local Municipality Town Planning Scheme. Please refer tp Annexure B for permitted uses, height, coverage and building lines. 4. Location Analysis The subject property is located in the Pretoria Central CBD. Fronting onto Sisula street, the property enjoys very good street exposure with high foot and vehicle traffic. The immediate area offers a mixture of similar commercial properties in a well established commercial and business area with some retail stores. The property enjoys all municipal services such as tarred roads, water, sewerage and electricity. All municipal services are available and appear to be functional. GPS co-ordinates for the property are: , Property Description This double storey commercial building comprises retail shops downstairs and a church upstairs situated on a stand of 530 m 2. 9

10 10 ANNEXURE A: LOCALITY

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14 TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATION DATE: 23 APRIL 2008) COMPILED BY THE CITY PLANNING AND DEVELOPMENT DIVISION ORIGINAL APPROVED BY VIRTUE OF PREMIER S NOTICE NO 497/2008, DATED 23 APRIL 2008

15 CLAUSE 22: CONDITIONS APPLICABLE TO RESIDENTIAL 3 ERVEN 22. The erf is subject to the conditions contained in Schedule 3. CLAUSE 23: CONDITIONS APPLICABLE TO RESIDENTIAL 4 ERVEN (1) The number of tenements which may be erected on an erf, is determined in terms of Condition 1 of Schedule 2 to the Scheme. (2) The stipulations of Clause 14(3)(a) are applicable. CLAUSE 24: CONDITIONS APPLICABLE TO A PUBLIC GARAGE 24. (1) No material or equipment of any nature whatsoever shall be stored or stacked to a height exceeding the height of the screen wall: Provided that the Municipality may relax this condition if, in the opinion of the Municipality it shall not be detrimental to the general amenity of the neighbourhood. (2) No repairs of any nature to vehicles or equipment shall be affected outside the garage building, except in an area which is screened to the satisfaction of the Municipality for that purpose: Provided that the Municipality may relax this condition where the erf is situated within, adjacent to or surrounded by industrial uses. (3) No material or equipment of any nature shall be stored or stacked outside the garage building except in an area which is screened to the satisfaction of the Municipality for that purpose: Provided that fuel pumps or oil and fuel installations may be sited outside the building to the satisfaction of the Municipality: Provided further that the Municipality may relax this condition where the erf is situated within, adjacent to or surrounded by industrial uses. (4) Canopies over fuel pump installations are not regarded as coverage but shall be considered Gross Floor Area for FAR and subject to Clause 9. CLAUSE 25: FLOOR AREA RATIO 25. No building shall be erected so as to exceed the Floor Area Ratio specified in the following Table C or Annexure T: TABLE C: FLOOR AREA RATIO (1) (2) (3) (4) FAR Zone as recorded in electronic data base of Scheme FAR for all uses in other Use Zones except uses in Columns (3) and (4) FAR for Boarding House, Guest-house, Hotel and Institutions 1 6,0 6,0 6,0 2 5,5 5,5 5,5 3 4,0 4,0 2,5 4 2,5 2,5 2,0 5 *1 2,0 2,0 1,5 6 *2 3,0 Not applicable Not applicable 7 1,8 1,2 1,2 FAR for Agricultural Buildings, Blocks of Flats, Blocks of Tenements, Hostels, Duplex Dwellings, Dwelling-houses in Use Zones 1, 17 and 19, and Dwelling-units in Use Zones 2, 3 and 4 8 1,5 1,5 Not applicable TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

16 (1) (2) (3) (4) FAR Zone as recorded in electronic data base of Scheme FAR for all uses in other Use Zones except uses in Columns (3) and (4) 50 FAR for Boarding House, Guest-house, Hotel and Institutions 9 0,75 0,8 0, ,6 0,6 0,6 11 1,8 0,9 0,9 12 3,0 2,4 2,4 13 Not applicable Not applicable 0,4 14 2,0 1,8 1,8 15 2,1 2,1 2,1 16 0,4 0,4 0,4 17 0,5 0,5 0,5 18 0,8 0,8 0,8 19 1,2 1,2 1,2 20 1,5 1,5 1,5 21 0,3 1,5 Not applicable 22 0,9 0,9 0,9 23 2,1 1,2 1,2 Note: FAR for Agricultural Buildings, Blocks of Flats, Blocks of Tenements, Hostels, Duplex Dwellings, Dwelling-houses in Use Zones 1, 17 and 19, and Dwelling-units in Use Zones 2, 3 and 4 *1. If no FAR is indicated in an Annexure T or in the data base then this FAR Zone will apply to all Use Zones excluding Use Zones Industrial 1 and Industrial 2. *2. If no FAR is indicated in an Annexure T or in the data base then this FAR Zone will apply to Use Zones Industrial 1 and Industrial 2 only. Provided that - (1) where a building is designed for more than one use a proportional Floor Area Ratio, based on the proportional usage as described in Paragraph 2 of Schedule 2, shall be permitted. CLAUSE 26: HEIGHT OF BUILDINGS 26. (1) No building shall be erected so as to exceed the height or number of storeys specified in the following Table D or Annexure T: TABLE D: HEIGHT (1) (2) (3) Height Zone per property as recorded in the electronic data base of the Scheme Use Zones 1 All Use Zones 32 2 All Use Zones 28 3 All Use Zones 25 Height in metres TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

17 (1) (2) (3) Height Zone per property as recorded in the electronic data base of the Scheme 51 Use Zones 4 All Use Zones 22 5 *1 All Use Zones 19 6 *2 All Use Zones 18 7 All Use Zones 15 8 All Use Zones 23 9 All Use Zones All Use Zones 10 Note: Height in metres *1. If no height is indicated in an Annexure T or in the data base then this Height Zone will apply to all Use Zones excluding Use Zones Industrial 1 and Industrial 2. *2. If no height is indicated in an Annexure T or in the data base then this Height Zone will apply to Use Zones Industrial 1 and Industrial 2 only. (a) (b) (c) In an "Industrial 1" zone the height of industrial buildings shall not be subject to the height as set out in the foregoing Table D. In an "Industrial 2" zone the Municipality may grant permission to an increase in height in respect of any building, which requires additional height for a manufacturing process or strorage purposes. No dwelling-unit in Use Zones Residential 1, "Residential 2", "Agricultural" and "Undetermined" shall exceed 10,0 m in height above natural ground level and such dwelling-unit shall not contain more than 2 storeys one above the other as indicated in Diagram 4 below and such height shall include the basement: Provided that the Municipality may in special circumstances grant its permission to relax the afore-mentioned restrictions if it is satisfied that the privacy of the adjacent residents shall not be negatively affected and that it would result in a better development and to grant its permssion that the height of each storey may vary from the minimum specified in the National Building Regulations to a maximum of 6,0 m measured from floor to ceiling depending on the design of the dwelling-unit. (d) The Municipality may in its discretion grant permission for an increased height in the case of: (i) a building erected by the Municipality itself or any university established by law; (ii) a building where, owing to the imposition of a building line, the applicable Floor Area Ratio cannot otherwise be attained; (iii) a building which requires additional height in order to improve the architectural treatment thereof or to provide amenities solely for the occupants of the building, on condition that not more than 10% of the roof area is covered by that portion of the building for which additional height is required; and (iv) a building to be erected after compliance with the provisions of Clause 16, to a height greater than that permitted in Table D, on condition that such building embodies in its design special features which in the opinion of the Municipality add to the general TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

18 52 amenity of the area and that provision shall be made for parking in accordance with Clause 28, or as required by the Municipality. (e) (f) (deleted) No building on a property which falls within the area bordered blue as shown on Annexure C shall be permitted to be more than 1381 metres above mean sea level. (2) For the purposes of this Clause account shall not be taken of the following: (a) (b) (deleted) One or part of one storey of a building excluding a dwelling-house or dwelling-unit, which is used for the parking of vehicles: Provided that, (i) the Municipality may grant permission for a maximum of three storeys to be used for the parking of motor vehicles except in the area bounded by Walker Street, the railway line and Mears Street, in Muckleneuk, where only one storey for the parking of motor vehicles shall be permitted; (ii) if the parking storey is above the ground floor, an area of not less than 85% of such storey shall be used for parking purposes and access ramps; and (iii) if the parking storey is on the ground floor, accommodation may also be provided on this floor for an entrance hall, lifts, stairs, accommodation for the employees necessary for the servicing of the building, facilities for the servicing and maintenance of the building and amenities for the occupants of the building, but excluding a caretaker's flat, on condition that the combined area of the afore-mentioned uses may not exceed 20% of the area of the erf which may be covered by the building. (c) (d) Any part of the building above the maximum permitted height, which is necessary for the maintenance and mechanical equipment, necessary for the servicing of the building, on condition that it is not used for any other purpose; and Any chimney, ornamental tower, turret,or other similar architectural feature and lightning conductor mast except that any parapet shall be taken into account. (3) The height of any part of a building shall be measured vertically from the natural ground level to the highest point of the building as indicated in Diagrams 4, 5 and 6 below. (4) Where the height of a building is specified in storeys only, then a storey shall be equivalent to a height of 3,0 m measured from the floor to the floor above except where a single storey is designed as a double volume, in which case the height of such storey shall not be more than 6,0 m floor to ceiling without the permission of the Municipality. (5) In the case of industrial buildings, light industrial buildings, warehouses, wholesalers and distribution centres where the height is expressed in storeys then the height of a single storey may be equivalent to the total height of all the storeys converted to metres and the maximum height of such building shall exclude the height of the roof. TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

19 55 Diagram 6 CLAUSE 27: COVERAGE 27. (1) No building shall be erected so that a greater portion of the site is covered by the building than is indicated in the following Table E or Annexure T: TABLE E: COVERAGE (1) (2) (3) (4) (5) (6) Coverage Zone per property as recorded in the electronic data base of the Scheme Parking Garages and Public Garages, Warehouses, buildings used solely for the display of goods Coverage for other uses not in Columns (2), (4) (5) and (6) Coverage for Industries, Places of Instruction, Hotel, Boarding House and Guest-house Coverage for Duplex Dwellings, Blocks of Flats, Blocks of Tenements and Dwellingunits in Residential 4 Use Zone 1 95% 80% 75% 75% 50% 2 95% 80% 75% 75% 50% 3 95% 80% 75% 40% 50% 4 80% 60% 60% 40% 50% 5 *1 80% 60% 60% 40% 50% 6 *2 95% 80% 75% 40% 50% 7 80% 60% 60% 40% 50% 8 80% 60% 60% 30% 50% Coverage for Agricultural buildings, Dwellinghouses in Use Zones 1, 17 and 19, and Dwellingunits in Use Zones 2, 3 and 5, Hospitals and Institutions TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

20 56 (1) (2) (3) (4) (5) (6) Coverage Zone per property as recorded in the electronic data base of the Scheme Parking Garages and Public Garages, Warehouses, buildings used solely for the display of goods Coverage for other uses not in Columns (2), (4) (5) and (6) Coverage for Industries, Places of Instruction, Hotel, Boarding House and Guest-house Coverage for Duplex Dwellings, Blocks of Flats, Blocks of Tenements and Dwellingunits in Residential 4 Use Zone Coverage for Agricultural buildings, Dwellinghouses in Use Zones 1, 17 and 19, and Dwellingunits in Use Zones 2, 3 and 5, Hospitals and Institutions 9 Not applicable Not applicable 25% 25% Not applicable 10 Not applicable Not applicable 30% 30% Not applicable 11 60% 60% 60% (Industry) 30% (other) 30% 30% 12 75% 75% 60% 40% 50% 13 75% 75% 60% 40% 50% 14 Not applicable Not applicable Not applicable 60% Not applicable 15 30% 30% 30% 30% 30% 16 40% 40% 40% 40% 40% 17 60% 60% 60% 60% 60% 18 80% 80% 80% 80% 80% 19 70% 70% 70% 70% 70% 20 Not applicable 15% Not applicable Not applicable Not applicable Note: *1. If no coverage is indicated in an Annexure T or in the data base then this Coverage Zone will apply to all Use Zones excluding Use Zones Industrial 1 and Industrial 2. *2. If no coverage is indicated in an Annexure T or in the data base then this Coverage Zone will apply to Use Zones Industrial 1 and Industrial 2 only. Provided that, (a) (b) (c) (d) in Coverage Zones 1 and 2 a maximum coverage of 95% may be permitted for any shop on condition that such shop shall have acceptable mechanical ventilation, which condition may be waived by the General Manager: City Planning, if he and the Municipality s Health Officer are satisfied that the shops have adequate natural ventilation; in Coverage Zones 1 and 2 the permitted coverage for a Place of Amusement may not exceed 90% and in other Coverage Zones may not exceed 75% if artificial lighting and air-conditioning are installed; if a building is designed for more than one use, the maximum percentage of the site occupied by buildings at each storey shall comply with the provisions of Table E in respect of the use or uses of such storey; in the case of blocks of flats or tenements in Height Zones 3, 4, 5 and 6 a maximum additional coverage of 15% shall be permitted for single-storey garages erected for the use of the tenants of the blocks of flats or tenements and accommodation for the employees necessary for the servicing of the building, may be permitted on the top of such garages, subject to the condition that such garages and accommodation shall be erected in accordance with the National Building Regulations; TSHWANE TOWN-PLANNING SCHEME, 2008 (PROMULGATED 23 APRIL 2008)

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23 Rules of Auction and Conditions of Sale IMMOVABLE PROPERTY DATE OF AUCTION : 24 November 2015 PLACE OF AUCTION : The Wanderers Club, 21 North Street, Illovo, Johannesburg TIME OF AUCTION : 12pm AUCTION HOUSE : Broll Auctions and Sales (Pty) Ltd (Registration Number 2014/250826/07) AUCTIONEER : Ismail Hendricks Suite 4, 1 st Floor, Atholl Square, Cnr Katherine Drive and Wierda Road East, Sandown Contact number: Will offer for sale by public auction the following immovable property: ERF : Portion 3 of Erf 78, Pretoria KNOWN AS : IN EXTENT : 530m² TITLE DEED NUMBER : T144815/ Section 45 subsection (2) of the Act provides that: When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction The auction will commence at the published time and will not be delayed to allow any specific person or more persons in general to take part in the auction Registration to bid at the auction: Anyone that intends to bid at the auction must register his or her identity on the bidder s record prior to the commencement of the auction. Such registration must meet the requirements of FICA (Financial Intelligence Centre Act, 2001) in respect of the establishment and verification of identity of the person, and the person must sign the registration entry A person who attends the auction to bid on behalf of another person (i.e. on behalf of a company) must produce a letter of authority that expressly authorises him or her to bid on behalf of that person and the person bidding on his or her behalf must meet the requirements set out in clause above. Where a person is bidding on behalf of a company the letter of authority must appear on the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him or her to bid on behalf of the company. RULES OF AUCTION 1.1. Each prospective bidder must read these Rules of Auction together with the attached Conditions of Sale Agreement and must not bid unless he or she has done so The sale by auction is subject to a reserve price The auctioneer or his agent shall be entitled to bid up to the reserve price on behalf of the owner, but shall not be entitled to make a bid equal to or exceeding the reserve price The rules of auction comply with section 45 of the Consumer Protection Act, Act 68 of 2008 ( the Act ) and with the Consumer Protection Act Regulations ( the Regulations ) that have been published in terms thereof. 1.8 The bidder s record and the vendor roll will be made available for inspection at the offices of Broll Auctions and Sales (Pty) Ltd during normal business hours without the charge of a fee. The bidders record will also be available for inspection at the auction. 1.9 Broll Auctions and Sales (Pty) Ltd has a trust account. All money due to the seller in terms of the Rules of Auction will be paid into this trust account for the benefit of the seller, minus any commission payable to Broll Auctions and Sales (Pty) Ltd The auctioneer will during the auction announce the reason for the auction unless that reason is the normal and voluntary disposal of property by the seller. Page 2 of 28

24 1.11 The total cost of advertising and conducting the auction of the property is R35, which costs are broken down as follows: Advertising costs; I the AUCTIONEER do hereby certify that, to the best of my knowledge, these Rules of Auction meet the requirements of regulation 21 of the Consumer Protection Act Regulations as published in Government Gazette No of 1 April Brochure and marketing material; Auction venue costs; Photography. AUCTIONEER (duly authorised) DATE 1.12 The conduct of the auction is subject to the control of the auctioneer who has the sole right to regulate the bidding procedure The sale shall be by the rise and the property shall be sold to the highest bidder subject to the Rules of Auction Every bid shall constitute an offer to purchase the property for the amount bid upon the terms and conditions contained in the Conditions of Sale, which the seller or the auctioneer may accept or reject in their absolute discretion. The seller shall be entitled, in its absolute discretion, to withdraw the property from sale prior to acceptance by the seller If no bid equals or exceeds the reserve price, the property may be withdrawn from the auction. The seller shall be entitled to instruct the auctioneer to accept any lower bid In the event of any dispute between the bidders, the decision of the auctioneer shall be final and binding Any error by the auctioneer shall be entitled to be corrected by him No bid may be withdrawn after the fall of the hammer until the expiry of the confirmation period that is provided for in the Conditions of Sale, during which time the offer shall be open for acceptance by the seller or his agent and if the offer is accepted, the sale shall be deemed to be a sale by auction for purposes of the Act The highest bidder ("the purchaser") shall sign the Conditions of Sale immediately on the fall of the hammer. Page 3 of 28 Page 4 of 28

25 Duly instructed by YUSMOH INV PTY LTD (the SELLER ) and 2. PURCHASE PRICE The Purchase Price of the PROPERTY, plus Value Added Tax ("VAT") if applicable, shall be paid as follows: BROLL AUCTIONS AND SALES (PTY) LIMITED Registration Number 2014/250826/07 Duly represented by: Ismail Hendricks (the AUCTIONEER ) Hereby offers for sale by public auction the following immovable property: ERF : Portion 3 of Erf 78, Pretoria KNOWN AS : IN EXTENT : 530m² TITLE DEED NUMBER : T144815/2005 Together with all improvements thereon (the PROPERTY ) on the following terms and conditions: 1. ACCEPTANCE AND CONFIRMATION 1.1. The PURCHASER S offer shall remain open for acceptance by the SELLER or by the AUCTIONEER on behalf of the SELLER, until 18H00 on the 27 th day of NOVEMBER, 2015 ( confirmation period ). The PURCHASER and the AUCTIONEER acknowledge and agree that this provision constitutes a stipulation for the benefit of the SELLER The PURCHASER'S offer shall be deemed to have been accepted only when the SELLER or the AUCTIONEER, whichever may be applicable, has signed these Conditions of Sale on behalf of the SELLER in the space provided at the end of this Agreement and the Seller shall not be required to notify the PURCHASER of the acceptance of its offer prior to expiry of the confirmation period Should the SELLER reject the PURCHASER'S offer, the AUCTIONEER will repay to the PURCHASER any deposit and commission paid to it in terms of this agreement In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale is subject to the granting of such consent. 2.1 A deposit of 5% (five per cent) of the Purchase Price payable to the AUCTIONEER by the PURCHASER immediately on the fall of the hammer, which amount the PURCHASER hereby authorises the AUCTIONEER to pay over to the SELLER'S Attorneys; 2.2 The deposit paid in terms of this clause will be invested by the SELLER'S Attorneys on call at a commercial bank on behalf of and the interest for the benefit of the PURCHASER. The PURCHASER'S signature hereto shall constitute the PURCHASER'S written consent in terms of Section 78(2A) of the Attorneys Act, authorising the SELLER'S Attorneys to invest all amounts paid on account of the Purchase Price in an interest bearing account with a bank of the SELLER S Attorneys choice. No monies shall be invested without compliance of clause 8.6 of this Agreement. 2.3 The balance of the Purchase Price shall be paid in cash and secured, to the satisfaction of the SELLER'S Attorneys, by a written guarantee from a registered financial institution, payable free of exchange, against registration of transfer of the PROPERTY into the PURCHASER'S name. The PURCHASER may elect to secure the balance of the Purchase Price by payment in cash to the SELLER'S Attorneys, who shall hold same in trust, pending registration of transfer into the name of the PURCHASER. The aforesaid guarantee shall be presented and/or cash shall be payable by the PURCHASER to the SELLER'S Attorneys within 45 (forty five) days from date of acceptance by the Seller. 2.4 Each payment made by the PURCHASER in terms of this Agreement shall be allocated first to the payment of AUCTIONEER'S Commission, then interest and thereafter to the payment of any other monies due in terms hereof. 3. VALUE ADDED TAX AND TRANSFER DUTY It is recorded that, if applicable: 3.1 The Purchase Price is exclusive of VAT at the rate of zero percent. 3.2 It is recorded that it is the intention of the parties that this transaction be a zero rated transaction in terms of Section 11 (1) (e) of the Value Added Tax Act (the Act ) and it is agreed that the purchase price is inclusive of VAT at a rate of zero percent. Page 5 of 28 Page 6 of 28

26 3.3 It is recorded that in the event that VAT is applicable; The PROPERTY constitutes an enterprise as defined in the Act and is sold as a going concern that will on the date of transfer be an income earning activity capable of separate operation, and the supply of the PROPERTY shall be zero rated in terms of Section 11 (1) (e) of the Act; The assets and all other aspects of the business that are necessary for carrying on the enterprise, including all existing lease agreements pertaining to the property, are being disposed of to the PURCHASER in terms of this Agreement. 3.4 It is recorded that in the event that VAT is applicable; The SELLER and PURCHASER respectively warrant to the other that they will, with effect from the date of conclusion of this Agreement, be registered as vendors in terms of the Act. The PURCHASER undertakes to provide the SELLER S attorneys with a copy of its VAT Registration Certificate (form VAT 103) at least 21 (twenty one) days before the anticipated Transfer Date and the PURCHASER warrants that it has applied for VAT registration before the date of conclusion of this Agreement. 3.5 If for any reason VAT is payable on this sale at a rate other than at the zero rate, then the PURCHASER agrees and undertakes that it will be liable for payment of any such VAT or additional VAT and such VAT will be added to the Purchase Price and payable on registration of transfer and shall be secured as provided for in clause 2.3 above. 3.6 In the event of VAT being payable on the Purchase Price as a result of the sale, such VAT shall be payable by the PURCHASER, in addition to the Purchase Price, to the SELLER'S Attorneys immediately on demand. 3.7 In the event that the sale is VAT exempt or not applicable, the PURCHASER shall pay applicable transfer duty, in addition to the Purchase Price, to the SELLER's Attorneys immediately on demand. 4 AUCTIONEER'S COMMISSION 4.1 The PURCHASER shall be liable for and pay, in addition to the amounts payable in terms of clauses 2.1 and 2.3, AUCTIONEER S commission of 10% (ten per cent) of the Purchase Price, plus VAT thereon, which commission shall be deemed to have been earned and is payable immediately upon the fall of the hammer or upon the signing of this Agreement by the Purchaser, whichever happens first. 4.2 If commission is not paid by the PURCHASER to the AUCTIONEER in terms of 4.1 above for any reason whatsoever, the SELLER hereby instructs his attorneys to pay the commission or balance thereof, whichever may be applicable, to the AUCTIONEER as a first draw from the proceeds of this sale, against registration of transfer of the PROPERTY into the name of the PURCHASER. 4.3 If this Agreement is cancelled as a consequence of the default by the SELLER, then the SELLER acknowledges and agrees that it shall be jointly and severally liable with the PURCHASER for payment of AUCTIONEER S commission as contemplated herein. 5 OCCUPATIONAL INTEREST Should the PURCHASER take possession of the PROPERTY prior to registration of transfer, he shall pay occupational interest, calculated at the rate of 10% (Ten per cent) per annum on the balance of the Purchase Price outstanding and capitalised monthly from date of possession to date of registration of transfer, without deduction or set-off, on registration of transfer, (both days inclusive). 6 RATES AND TAXES AND LEVIES 6.1 The SELLER shall be liable for all rates and taxes and levies and other Municipal charges levied on the PROPERTY for the period prior to date of possession and the PURCHASER shall be liable for all rates and taxes and other Municipal charges levied thereafter. 6.2 The PURCHASER shall refund to the SELLER a pro rata share of all rates and taxes and levies and services paid in advance by the SELLER for the period after the date of possession, which refund shall be paid upon registration of transfer. Page 7 of 28 Page 8 of 28

27 6.3 The Seller hereby indemnifies the Purchaser against any claims that may be made by the relevant authorities / managing agents in respect of arrear rates / levies as at date of registration of transfer into the Purchaser s name. 6.4 The Seller understands and accepts that it is the practice of the City of Johannesburg and certain other municipalities to require the Seller to pay the full amount required in order to obtain a rates clearance certificate in respect of properties falling within its area, and to then refund the Seller after registration of transfer, and the Seller will accordingly liable to pay the full amount required for a rates clearance certificate in such cases. 7. SELLER RESIDENCY AND WITHHOLDING TAX It is recorded that the parties are aware of an obligation on the part of the PURCHASER to withhold part of the Purchase Price from the SELLER, if he is a non-resident and pay such withheld portion to the South African Revenue Services (hereinafter referred to as "SARS") in terms of Section 35A of the Income Tax Act, (hereinafter referred to as the "Act") and in that regard: 7.1. The SELLER warrants either that he is / is not a RESIDENT of the Republic of South Africa; (delete whichever is not applicable) 6.5 Any indication of the rates and/or levies payable in respect of the Property that is given by the Seller or the Auctioneer is only an approximation based on recent figures obtained in respect of the Property, and accordingly neither the Seller nor the Auctioneer warrant the actual amounts of the rates / levies applicable to the property. 6.6 The parties agree, so as to allow for the orderly transfer of the rates, water and electricity accounts in respect of the Property, as follows: if the Property is not held by sectional title, the Seller will notify the relevant municipality, or any other relevant authority, prior to vacating the Property and request them to take final readings and terminate the electricity and water service in the Seller s name upon registration of transfer into the name of the Purchaser; the Conveyancer s will, upon registration of transfer, inform the relevant municipality that the Property has been transferred into the Purchaser s name and the date of such transfer; and the Purchaser shall, immediately upon registration of transfer of the Property into its name, attend at the offices of the relevant municipality or any other relevant authority, and will pay the required deposit/s and open rates, water and electricity consumption accounts in its name The SELLER hereby indemnifies and holds harmless both the AUCTIONEER and the SELLER'S Attorneys from any claim arising as a result of them having acted in terms of the Act, on information supplied by the SELLER, or from any other source and the SELLER waives all right of recourse he may have against the said SELLER'S Attorneys and/or AUCTIONEER, in respect of any action or omission by them in terms of the Act; 7.3. Where the SELLER has warranted that he is a resident and information leads the AUCTIONEER or the SELLER'S Attorneys to suspect that the SELLER is a nonresident, the AUCTIONEER or SELLER'S Attorneys may by written notice call upon the SELLER to obtain a directive from SARS within 30 (thirty) days as to his resident status, failing which the provision of clause below shall apply In the event that SARS, furnishes a directive, wherein the SELLER is regarded as a non-resident for income tax purposes: The PURCHASER hereby irrevocably instructs the SELLER's Attorneys upon registration of transfer to withhold the prescribed percentage of the Purchase Price and to pay such monies to SARS within 14 (fourteen) days of registration of transfer. Notwithstanding the provision of above, the SELLER shall be entitled to obtain a directive from the SARS for the non-withholding or a reduced withholding, of tax, which directive to be delivered to the SELLER's Attorneys within 21 (twenty one) days of the date of acceptance of this agreement, failing which the SELLER shall be bound by such withholding percentage as determined by the Income Tax Act. Page 9 of 28 Page 10 of 28

28 8 TRANSFER AND COSTS OF TRANSFER 8.1 Transfer shall not be passed to the PURCHASER, notwithstanding anything to the contrary herein contained, until such time as the total Purchase Price and all other amounts, for which the PURCHASER may be liable in terms hereof, have been paid and/or payment thereof has been secured as herein provided. 8.2 Transfer of the PROPERTY shall be passed, by the SELLER'S Attorneys, as soon as possible after date of acceptance, providing the PURCHASER has complied with the provisions of the aforementioned sub-clause. 8.3 The PURCHASER hereby specifically authorises and agrees to the SELLER'S Attorneys preparing and submitting a transfer duty form as required by SARS for the clearance of the PROPERTY. 8.4 Transfer of the PROPERTY shall be effected by the SELLER'S Attorneys and all expenses of and incidental to the preparation and registration of transfer, the conveyancing fees, disbursements and VAT (if applicable), in respect of such transfer, shall be borne by the PURCHASER including all expenses and legal costs incidental to the preparation and registration of any mortgage bond to finance the Purchase Price herein, including any disbursement levied by the financial institution approving the finance. 8.5 In the event of the PURCHASER failing to comply within 7 (seven) days of being requested by the SELLER'S Attorneys, to furnish them with signed documents or documentation of whatever nature necessary for effecting transfer, or where applicable to ensure that the mortgage bond documentation or ancillary documentation is satisfactorily completed or in the event of the registration of transfer being delayed as a consequence of a default on part of the PURCHASER (and the widest possible interpretation shall be used in respect of the terms hereof), then ipso facto on the 8 th (eighth) day after such request, the PURCHASER shall pay to the SELLER penalty interest, at the rate of 2% (two per centum) above prime calculated from the said 8 th (eighth) day until the date of transfer, (both days inclusive). 8.6 The PURCHASER acknowledges and accordingly undertakes to comply with all the FICA requirements as set out in Annexure "1" annexed hereto within 7 (seven) days from date of acceptance of this Agreement by the SELLER and to supply the SELLER'S Attorneys all information and documentation required by the SELLER'S Attorneys to enable the SELLER'S Attorneys to fulfil their obligations in terms of the Acts mentioned herein under: The SELLER'S Attorneys are designed as an "accountable institution" in terms of the Financial Intelligence Centres Act No. 38 of 2001 ("FICA"); Certain obligations are placed on the SELLER'S Attorneys in terms of FICA and the Prevention of Organised Crime Act 21 of 1998 ("POCA"); The SELLER'S Attorneys shall not invest and administer any deposits or any other monies paid by the PURCHASER in terms of this Agreement, unless the PURCHASER has provided the SELLER'S Attorneys with the documentation that they require in terms of FICA, nor shall the SELLER'S Attorneys be held liable for any loss of interest as a result of the PURCHASER'S failure to comply herein. 9 POSSESSION AND RISK 9.1 Possession of the PROPERTY, subject to any leases in place over the Property as at the date of auction, shall only be given by the SELLER and taken by the PURCHASER on registration of transfer, provided that clauses 2.1 and 2.3 above have been complied with, from which date all risks and benefits of ownership in respect of the PROPERTY shall pass to the PURCHASER. 9.2 The PURCHASER, at its own expense, shall insure the PROPERTY and improvements thereon for the full replacement value thereof from date of possession, against risk of loss or damage by any cause with an insurer acceptable to the SELLER. The SELLER'S interest in the PROPERTY shall be endorsed against such policy for such period. 9.3 Upon the PURCHASER taking occupation of the PROPERTY and pending transfer, the following conditions shall apply the PURCHASER shall not sell, let or in any other manner dispose of or part with (whether temporarily or otherwise) the PROPERTY or his rights of occupation thereof, except with the written consent of the SELLER, which consent shall not be unreasonably withheld; Page 11 of 28 Page 12 of 28

29 9.3.2 the PURCHASER shall be responsible for and pay all costs of electricity and water consumed in the PROPERTY. 10 EXISTING TENANCIES 10.1 The PROPERTY is sold subject to all existing tenancies The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised If the highest bid obtained at the auction for the sale of the PROPERTY subject to the lease, is insufficient to meet the amount owing under any Mortgage Bond registered over the PROPERTY, then the PROPERTY may be sold free of any lease which was entered into after registration of any mortgage bond over the PROPERTY or any lease entered into prior to the registration of any mortgage bond of which lease the older of the mortgage bond had no knowledge 11 REPAIRS AND IMPROVEMENTS 11.1 Prior to registration of transfer, the PURCHASER shall not be entitled to effect any alterations to the PROPERTY without the prior written consent of the SELLER The SELLER shall not be obliged to compensate the PURCHASER for any authorised alteration effected in the event of the sale being cancelled The PURCHASER shall be liable for any damages suffered by the SELLER as a result of any alterations effected by the PURCHASER, not authorised by the SELLER. 12 REPRESENTATIONS 12.1 If the sale of the PROPERTY is not subject to the Consumer Protection Act then the PROPERTY is sold voetstoots. The sale of the PROPERTY is subject to the terms and conditions and servitudes mentioned or referred to in the current and/or prior Title Deeds and to the conditions of establishment of the Township in which it is situated and to the zoning applied to it under any Town Planning Scheme. The SELLER shall not profit by any excess nor shall it be answerable for any deficiency in the extent thereof. Neither the SELLER nor the AUCTIONEER shall be responsible for pointing out to the PURCHASER any surveyor s pegs or beacons in respect of the PROPERTY The PURCHASER acknowledges that he has not been induced into entering into this Agreement by any express or implied information, statement, advertisement or representation made or given any warranties in respect of the PROPERTY or anything relating thereto, by the AUCTIONEER or any other person, or by or on behalf of the SELLER and that is not contained in this Agreement. The PURCHASER hereby waives any rights whatsoever which he may otherwise have obtained against the SELLER or the AUCTIONEER as a result of such information, statement, advertisement, representation or warranty, made by or on behalf of the SELLER or the AUCTIONEER The PURCHASER acknowledges that he has fully acquainted himself with the PROPERTY that he has purchased. 13 BREACH 13.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the Defaulting Party is the PURCHASER and fails to comply with such notice then the SELLER shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the SELLER may have in law, including the right to claim damages: to cancel this Agreement and upon cancellation the PURCHASER shall forfeit all monies paid to the SELLER, the AUCTIONEER and/or the SELLER'S Attorneys and the SELLER shall retain the right to recover any costs incurred by the SELLER to present the PROPERTY at the auction, any further costs to be incurred by the SELLER to re-auction or to re-sell the PROPERTY as well as any difference between the purchase price and the price achieved at any subsequent sale of the PROPERTY by the SELLER. A certificate issued by the SELLER or his representative, whose authority needs not be proven, shall be prima facie evidence of any such costs and/or difference in purchase price as contemplated herein. The PURCHASER and the SELLER specifically agree Page 13 of 28 Page 14 of 28

30 that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the PROPERTY for auction and all costs pertaining thereto shall be borne and paid for by the PURCHASER in addition to any other claims that he may be liable for in terms of the Agreement; or to claim immediate performance and/or payment of all the Defaulting Party's obligations in terms hereof Upon cancellation of this Agreement for whatever reason, the PURCHASER hereby undertakes to forthwith vacate the PROPERTY and to procure that the PROPERTY shall be vacated by any persons who occupy the PROPERTY through the PURCHASER'S title or by his permission. Occupation shall be re-delivered in the same good condition as at the date of possession Occupancy of the PROPERTY by the PURCHASER or persons on the authority of the PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law. 15 DOMICILIUM 15.1 The PURCHASER and the SELLER hereby choose their respective domicilium citandi et executandi for all purposes in respect of this agreement, including notices and Court process, the address recorded below their signatures hereunder. Any notice sent by prepaid registered post shall be deemed to have been received on the fifth day after posting; any notice delivered by hand shall be deemed to have been received on the day of delivery; any notice sent by telefax or electronically transmitted by , shall be deemed to have been received on the first business day after date of despatch thereof Notwithstanding anything to the contrary herein contained, any written notice or communication actually received by a Party to this Agreement shall be deemed to be adequate written notice or communication to him notwithstanding that it was not sent or delivered at the chosen address / domicilium citandi et executandi or transmitted to such Party's telefax number and/or address as stipulated herein The terms of "writing" shall include communications by or facsimile Notwithstanding what is contained herein, should the PURCHASER pay any portion of the deposit, but not pay a portion of or the full commission as required under these Conditions of Sale, the PARTIES record and agree that the AUCTIONEER shall be entitled to deduct from any portion of the deposit paid under these Conditions of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PURCHASER It is recorded further that the deduction by the AUCTIONEER of commission due to it under the sale does not absolve the PURCHASER from any and all other obligations arising from these conditions of sale. 14 LEGAL COSTS The Defaulting Party shall be liable for all legal costs incurred by the Aggrieved Party, the AUCTIONEER and his Agent / Attorneys in enforcing the terms of this agreement, on an Attorney and own client scale, including collection commission. 16 JOINT AND SEVERAL LIABILITY If this agreement is concluded with more than one PURCHASER, the liability of all such PURCHASERS to the SELLER and to the AUCTIONEER shall be joint and several in solidum. 17 SECTIONS 112 and 115 OF THE COMPANIES ACT (SPECIAL RESOLUTION) 17.1 The SELLER and the PURCHASER are aware of the provisions of Sections 112 and 115 of the Companies Act 71 of 2008 (as amended) ( Section 112 and 115 ), namely that if the SELLER is a company and if the PROPERTY constitutes either all or the greater part of the assets or the undertaking of the SELLER, then the directors of the SELLER shall not have the power, save by a special resolution of the shareholders of the SELLER, to sell the PROPERTY. Page 15 of 28 Page 16 of 28

31 17.2 Accordingly, the SELLER warrants that the provisions of Sections 112 and 115 are / are not (delete as appropriate) applicable to the sale of the PROPERTY If Sections 112 and 115 are applicable to the sale of the PROPERTY and if the directors 18 NOMINEE of the SELLER have not already been granted the necessary authority in terms of Sections 112 and 115 to dispose of the PROPERTY, then within 45 (forty five) business days of the acceptance date the SELLER shall procure that its shareholders pass a special resolution ratifying the sale of the PROPERTY. The PURCHASER shall be entitled, by notice in writing to the SELLER, to nominate a nominee in his place as PURCHASER, upon the following terms and conditions: 18.1 the aforesaid notice shall be handed to the SELLER by not later than 24h00 on the same day as the acceptance date by the SELLER; 18.2 the notice shall set out the name and address of the nominee so nominated as PURCHASER; 18.3 the notice shall be accompanied by the nominee s written acknowledgement: that it is fully aware of all the terms and conditions of this agreement as if fully set out in such written acknowledgement; and that it is bound by the provisions of this agreement as the PURCHASER; 18.4 should the PURCHASER nominate a nominee in terms of this clause, then: all reference to the PURCHASER in this agreement shall be deemed to be a reference to its nominee; and the PURCHASER by his signature hereto, hereby interposes and binds himself as surety and co-principal debtor in solidum, for and on behalf of all the obligations of the aforesaid nominee as PURCHASER, to and in favour of the SELLER, for all the PURCHASER'S obligations under this agreement, including damages, and renounces the benefits of division and excussion. 19 COMPANY TO BE FORMED acceptance and confirmation of this agreement to register such company having as one of its objects the ratification and adoption of this agreement, or such company fails to adopt or ratify this agreement within 15 (fifteen) days after date of its incorporation, then in such an event the PURCHASER shall be deemed as from the date thereof to have entered into this agreement in his personal capacity and to have acquired all the rights and obligations of the PURCHASER under this agreement In the event of such company being registered and duly adopting or ratifying this agreement, or the nomination effected, then the PURCHASER by his signature hereunder, shall be deemed to bind himself to the SELLER as SURETY and co-principal debtor in solidium with such company for the due performance by it as PURCHASER of the terms, conditions and obligations arising out of this agreement. 20 COMPANIES, CLOSE CORPORATIONS, ASSOCIATIONS OR TRUSTS Should the PURCHASER be a company, close corporation, association or trust, the person signing this agreement on behalf of such PURCHASER, by his signature hereto interposes and binds himself as SURETY for and co-principal debtor with the PURCHASER for the due and proper discharge of all its obligations arising from this agreement. 21. ELECTRICAL INSTALLATION CERTIFICATE OF COMPLIANCE 21.1 The SELLER hereby undertakes to provide the SELLER's Attorneys, prior to possession or transfer by the PURCHASER, whichever is the earlier, with a Certificate of Compliance in respect of the PROPERTY as well as in respect of the Electric Fence Installation (if applicable). as required by the Electrical Installation Regulations of 2009 promulgated under the Occupational Health and Safety Act (Act No. 85 of 1993, as amended from time to time). The certificate shall be issued by an electrical contractor registered in terms of the Regulations. The costs associated with obtaining such a certificate, including the costs of any repairs or replacements required in order for the certificate to be issued, shall be borne and paid for by the SELLER. Once the SELLER has furnished the SELLER's Attorneys with such certificate, the PURCHASER shall have no claim whatsoever against the SELLER in respect of the electrical installation and the SELLER shall have no further liability in this regard In the event of the PURCHASER signing this agreement in his capacity as agent for a company to be formed and the PURCHASER fails within 20 (twenty) days from date of Page 17 of 28 Page 18 of 28

32 21.2 The SELLER confirms that, as at date of transfer there will have been no addition or alteration to the electrical installations existing on the PROPERTY subsequent to the issue of such certificate. In the event that there has been any addition and/or alteration, the SELLER shall be obliged to obtain a Certificate of Compliance for at least the addition or alteration An Electrical Certificate of Compliance issued not more 2 (two) years prior to the date of this Agreement of Sale shall be valid and effective for the purposes of this clause No extension of time, waiver, indulgence or suspension of any of the provisions of this agreement, which any Party hereto may have given, shall be binding unless recorded in a written document signed by all Parties No variation or alteration or cancellation of these Conditions of Sale or any of the terms hereof, shall be of any force or effect, unless in writing and signed by the Parties hereto The provisions of this clause 21 shall apply mutatis mutandis to any gas and plumbing installation present on the property and in accordance with the Pressure Equipment Regulations 2009 made by the Minister of Labour under section 43 of the Occupational Health and Safety Act 85 of 1993 and where the property is situated in the Cape Province, any plumbing installation in terms of section 14 of the City of Cape Town: Water By-Law, 2010 and any obligations in respect of certificates relating to Wood and Beetle Borer regulations Where the sale of this property is in consequence of the SELLER being in liquidation (provisional or final) or having been sequestrated (provisionally or finally) then in such event the parties record and agree that any and all of the obligations referred to in this clause 21 and its sub clauses shall be for the sole cost and account of the PURCHASER and not for the SELLER. THE PROPERTY WAS PUT UP FOR SALE BY PUBLIC AUCTION ON THE 24 DAY OF NOVEMBER OF THE YEAR 2015 And sold by the rise for the amount of R (words) (PLUS VALUE ADDED TAX IF APPLICABLE) 22 MAGISTRATES' COURT JURISDICTION The Parties hereto consent to the jurisdiction of the Magistrates' Court in terms of Section 45 read with Section 28 of the Magistrates Court Act of 1944 as amended. Notwithstanding the aforementioned, this shall not preclude either Party from approaching the High Court of South Africa for any relief sought. This Agreement shall further be governed in terms of the law of the Republic of South Africa. 23 GENERAL CLAUSES 23.1 This Conditions of Sale Agreement constitutes the whole agreement between the Parties as to the subject matter hereof and no agreement, representation or warranty between the Parties other than those set out herein are binding on the Parties; Page 19 of 28 Page 20 of 28

33 TO: COMPANY/ CLOSE CORPORATION/ TRUST/ OTHER (hereinafter referred to as the PURCHASER ) ENTITY REGISTRATION / ID NO.: ADDRESS: TELEPHONE DETAILS: (home) (Work) (Fax) ( ) (Cell) MARITAL STATUS (In /Out of Community of PROPERTY) SPOUSE S NAME SPOUSE S ID NO ACCEPTANCE AND CONFIRMATION Accepted by me this day of 2015 AS WITNESSES: 1. SELLER (and where applicable the SELLER is duly authorised) 2. SELLER'S ADDRESS: SIGNED BY THE PURCHASER ON THE DAY OF AS WITNESS: 1. PURCHASER (and where applicable, the signatory binding himself as SURETY and co-principal debtor in solidium) AS WITNESS: 1. BROLL AUCTIONS AND SALES (PTY) LTD duly authorised (Broll Auctions and Sales (Pty) Ltd hereby accepts all the rights conferred upon it in terms of this Agreement) Page 21 of 28 Page 22 of 28

34 I / We the undersigned, DEED OF SURETYSHIP EXTRACT FROM THE MINUTES OF A MEETING OF THE MEMBERS OF HELD AT ON ID NUMBER: do hereby interpose and bind myself / ourselves as surety and co-principal debtor/s in solidum for and on behalf of the PURCHASER to and in favour of the SELLER and the AUCTIONEER for all the obligations of the PURCHASER under the Conditions of Sale aforegoing and in particular for all amounts of money that may be due, including damages, from whatsoever cause arising under renunciation of the benefits of division and excussion. I/We do further acknowledge that I/we are fully aware of all the terms and Conditions of the Conditions of Sale as if fully set out herein. I/We do accept domicilium et executandi at the address hereinafter set out. THUS DONE AND SIGNED at this day of AS WITNESSES: RESOLVED THAT: 1. The CLOSE CORPORATION BUYS the following PROPERTY from for R 2. That in his capacity as Member be and is hereby authorised to execute and sign all documents necessary to give effect to the above resolution. 1. SURETY Certified a true copy, 2. SELLER MEMBER MEMBER BROLL AUCTIONS AND SALES (PTY) LTD duly authorised SURETY ADDRESS (PHYSICAL): Tel No: Page 23 of 28 Page 24 of 28

35 EXTRACT FROM THE MINUTES OF A MEETING OF THE DIRECTORS OF HELD AT ON EXTRACT FROM THE MINUTES OF A MEETING OF THE TRUSTEES OF HELD AT ON RESOLVED THAT: RESOLVED THAT: 2. The Company BUYS the following PROPERTY 3. The Trust BUYS the following PROPERTY from from for R for R 2. That in his capacity as Director be and is hereby authorised to execute and sign all documents necessary to give effect to the above resolution. 2. That in his capacity as Trustee be and is hereby authorised to execute and sign all documents necessary to give effect to the above resolution. Certified a true copy, Certified a true copy, DIRECTOR DIRECTOR TRUSTEE TRUSTEE Page 25 of 28 Page 26 of 28

36 (ANNEXURE 1) FICA REQUIREMENTS: Natural Persons [1] South African identity document (foreigners: passport); [2] Utility bill addressed to your residential address less than 3 months (accounts for mobile phones are not acceptable); [3] South African Income Tax reference number. 1.2 Companies: [1] CM1. [2] CM Close Corporations: [1] CK1; [2] and, if applicable, CK Trusts: [4] (Confirmation marital status, i.e. unmarried or married.) 1.1 If Married [5] Marriage certificate. [1] Letters of Authority / Master's Certificate; [2] Trust Deed and all amendments thereto. [3] Resolution to approve the purchase (and loan application, if applicable) taken before the Agreement of Sale was signed. (The only exception is where it is a cash transaction and all the Trustees have signed the Agreement of Sale.) - If IN community of property (no antenuptial contract) [6] S.A. identity document (foreigner: passport) of your SPOUSE. - If OUT of community of property (by Antenuptial Contract ("ANC") [7] Page 1 (and page 2 if necessary) reflecting the registered number and names of both parties. If your Marriage is governed by the Laws of another country/state Detailed FICA requirements for Entities will be supplied to such Purchasers, in due course. 1.5 FICA requirements for Other Entities, if applicable, will be supplied to such Purchasers. [8] S.A. identity document (foreigner: passport) of your SPOUSE; [9] Name of the country/state governing your marriage, i.e. the country where the husband was living at the time of the marriage with the intention of staying there permanently. FICA REQUIREMENTS: Entities Person acting on behalf of the Entity must comply with paragraphs 1 to 4 above. All directors / members / trustees must also comply with paragraphs 1 to 4 above PLUS THE FOLLOWING: Page 27 of 28 Page 28 of 28

37 BIDDER REGISTRATION FORM AUCTION DETAILS Date & Time Venue Auctioneer 24 NOVEMBER 2015, 12H00 The Wanderers Club, Sandton, 21 North street, Illovo Ismail Hendricks BIDDER DETAILS Bidding Capacity Individual On behalf of a juristic person Where a person is bidding on behalf of a juristic entity the letter of authority must appear on the letterhead of the juristic entity and must be accompanied by a certified copy of the resolution authorising him or her to bid on behalf of the juristic entity. NATURAL PERSONS (ALSO TO BE COMPLETED IF BIDDING ON BEHALF OF A JURISTIC ENTITY) Name ID Number Physical Address Postal Address Landline Number Mobile Number Address Marital Status (if applicable) In Out of Community of Property Spouse Name (if applicable) Spouse ID No. (if applicable) JURISTIC ENTITY (if applicable) (COMPANY, TRUST, CLOSE CORPORATION, OTHER) Name Registration Number Physical Address Postal Address Page 1 of 3

38 BIDDER REGISTRATION FORM Landline Number Facsimile Address If Company or CC, annual turnover is: Less than R2M Greater than R2M If Company or CC, asset value is: Less than R2M Greater than R2M AUCTION REGISTRATION FEE (REFUNDABLE TO THE BIDDER AFTER THE AUCTION) Amount R Method of Payment EFT Bank Guaranteed Cheque Credit Card Payable to Bank Name Account Type Broll Auctions and Sales (Pty) Ltd Nedbank Southern Peninsula Trust Account Account Number Branch Code Reference TERMS AND CONDITIONS By signature of this bidder registration card, the signatory: 1. Acknowledges and understands that he/she shall not be entitled to bid until such time as the Auctioneer's registration fee has been paid or secured to the Auctioneer's satisfaction, this registration fee is refundable should he/she not be the highest bidder. 2. Acknowledges himself/herself to have read, understood and be bound by the Auctioneer's terms and conditions of auction; and has complied with FICA requirements i.e. brought a copy of his/her ID book, proof of residence and letter of authority to sign on behalf of a juristic entity. 3. Acknowledges and understands that, in respect of lots subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, such bid shall constitute an irrevocable offer to purchase the relevant lot at such price, which offer shall remain open for acceptance by the seller of the lot for a period of 5 business days; 4. Acknowledges and understands that, in respect of lots not subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, then such lot shall be deemed to have been sold to the bidder at such bid; Page 2 of 3

39 BIDDER REGISTRATION FORM 5. Acknowledges and understands that any sale of immovable property by way of public auction shall be binding on the bidder, and does not need to be recorded in a written agreement, in accordance with the provisions of Section 3(1) of the Alienation of Land Act 68 of Acknowledges and understands, notwithstanding the contents of paragraph 4 above, that should his/her bid be the highest bid on any lot, he/she will then be obligated to sign the Auctioneer's standard agreement of sale by public auction, which agreement the bidder acknowledges to have acquainted himself/herself therewith; 7. Acknowledges that, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, a buyer s premium of 10% plus VAT shall be payable over and above the bid price, unless otherwise stated; 8. Warrants, in the event that he/she is bidding on behalf of another person/company/close corporation or trust, that he/she has all necessary authority to do so and to bind such party to any consequent sale, and will produce written proof of such authority upon request. 9. Acknowledges that in the event of allowing the paddle allocated to the bidder to be used by any other bidder whether registered or not, shall remain liable for performance. 10. I the undersigned, acknowledge that I have received the Rules of Auction for this auction and it is my responsibility to understand, read and acquaint myself with the Rules of Auction incorporating the Sale Agreement. I have read and understood the Rules of Auction and have no objection to the Rules of Auction not being read out for the auction to be valid. Notwithstanding the fact that the Auctioneer has not read out every clause of the contract, I will legally comply myself with all my obligations, including immediate signing of the Rules of Auction incorporating the Sale Agreement on the fall of the hammer; and to the immediate transfer of the funds required in terms of the Rules of Auction and Sale Agreement. SIGNED BY THE BIDDER AS ACCEPTANCE (and where applicable the BIDDER is duly authorised) Date Place Signature FOR OFFICIAL USE BY BROLL BIDDERS CARD NUMBER Page 3 of 3

40 Broll Auctions and Sales Suite 4, 1st Floor Atholl Square Cnr Katherine Drive & Wierda Road East Sandown Ext 3 Johannesburg 2196 Tel Fax PO Box Norwood 2117 South Africa YOUR PARTNER OF CHOICE FOR COMMERCIAL PROPERTY AUCTIONS 12

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