PROCLAMATION OF SALE In The Matter of Loan Agreement, Deed of Assignment and Power of Attorney all dated 14th Day Of January 2002 Between EUCALYPT MORTGAGES SDN BHD (761862-K) Assignee (Took over the defendant s account together with all HSBC Bank Malaysia Berhad s rights to the underlying security vide Vesting Order granted by High Court of Malaya at Kuala Lumpur on 20.09.2007) And 1. SAMZARI BIN HASHIM Assignor/Borrower (NEW NRIC NO: 680901-05-5327) 2. NORAZIAH BINTI MOHAMED Assignor (NEW NRIC NO: 700403-06-5288) In the exercise of the rights and powers conferred upon the Assignee under the Loan Agreement, Deed of Assignment and Power of Attorney all dated 14th Day Of January 2002 entered into between the Assignee and the Assignor/Borrower, it is hereby proclaimed that the Assignee with the assistance of the under-mentioned Auctioneer Will Sell The Property Described Below By PUBLIC AUCTION On Wednesday, the 22 nd Day of November, 2017 at 2.30 p.m, At The Function Room Of Etika Auction Services (KL) Sdn Bhd, No. D2-U5-13A, Solaris Dutamas, No. 1, Jalan Dutamas 1, 50480 Kuala Lumpur. Note: (1) Prior to the auction sale, all intending bidders are advised to and shall be solely and absolutely responsible to :- (i) Inspect the subject Property; (ii) Conduct an official title search at relevant Registry/Land Office; (iii) Obtain confirmation from the Developer and/or other relevant authorities and/or bodies as to the accuracy and correctness of the identity and particulars of the Property and all matters in connection with the Property (including and not limited to the status of the issuance and registration of the separate document of title, the form and manner of assignment or transfer of the title in the Property and the amounts payable and/or owing in connection with the Property); (iv) Make necessary enquiries with the Developer and/or Proprietor and/or State Authorities and/or relevant bodies for any terms and conditions to the purchase pursuant to the sale herein and for the necessary confirmations or terms of consent to the sale herein; and (v) Seek independent legal advice on all matters in connection with the auction sale, including the Conditions of Sale herein. (2) The onus is on all intending bidders to seek prior to the bidding, confirmation from the Developer and/or relevant authorities and/or bodies whether or not the Property is reserved for Bumiputra only and/or is a low cost property and whether or not the bidder is eligible and qualified to purchase the Property. (3) The successful bidder(s) ( the Purchaser(s) ) undertakes and shall immediately and shall be responsible upon the sale to apply for and obtain necessary confirmations/consent for the assignment or transfer (if any) in favour of the Purchaser(s) from the Developer and/or Proprietor and/or State Authorities and/or other relevant bodies, if applicable. (4) Only arrears (if any) of quit rent and assessment charges due and payable in respect of the Property up to the auction date shall be paid out of the purchase money. 1
PARTICULARS OF PROPERTY: Individual Title No / Lot No : PM 4776, Lot 19782 (formerly HS(M) 13050, Lot PT No. 29279) Locality / Mukim / District / State : Tasik Putri, Rawang / Rawang / Gombak / Selangor Darul Ehsan Tenure : Leasehold 99 years expiring on 30/05/2105 Land Area : 1,604 square feet / 149 square metres Developer : Rawang Lakes Sdn Bhd (Company No. 144638-K) Beneficial Owner : SAMZARI BIN HASHIM & NORAZIAH BINTI MOHAMED Encumbrance(s) : Assigned to Eucalypt Mortgages Sdn Bhd (761862-K) (Took over the defendant s account together with all HSBC Bank Malaysia Berhad s rights to the underlying security vide Vesting Order granted by High Court of Malaya at Kuala Lumpur on 20.09.2007) Location and Description : The subject property is a unit of an intermediate single storey terrace house. The subject property is identified as Developer s Lot No. 1647, Block 14B, at Bandar Tasik Puteri, Kundang, Rawang, Selangor Darul Ehsan and bearing postal address No. 6, Jalan 7/7, Jalan Puteri 7, Bandar Tasik Puteri, 48020 Kundang, Rawang, Selangor Darul Ehsan. Category Of Land Use : Bangunan Express Condition : Bangunan Kediaman Restriction In Interest : Tanah ini tidak boleh dipindahmillik, dipajak atau digadai melainkan dengan kebenaran Pihak Berkuasa Negeri NOTE : BUMI LOT RESERVE PRICE: The Property will be sold on as is where is basis and subject to a reserve price of RM230,000.00 (RINGGIT MALAYSIA: TWO HUNDRED AND THIRTY THOUSAND ONLY) and the Conditions of Sale herein and subject to the necessary confirmations/consent being obtained by the Purchaser from the Developer and/or Proprietor and/or State Authorities and/or other relevant bodies, if applicable. DEPOSIT & TERMS OF PAYMENT: All intending bidders are required to deposit with the Auctioneer, prior to the auction sale, ten percent (10%) of the reserve price by banker s cheque or cashier s order only made in favour of EUCALYPT MORTGAGES SDN BHD. Any commission/charge levied by the issuing bank shall be included by the intending bidders in the banker s cheque or cashier s order. The balance of the purchase price is to be settled within one hundred and twenty (120) days from the date of auction. For further particulars, please contact the Solicitors for the Assignee or the Licensed Auctioneer. Messrs Azhar & Wong Advocates & Solicitors 16-08, Level 16, Menara Centara, 360, Jalan Tuanku Abdul Rahman, 50100 Kuala Lumpur Tel : 03-26023898 Fax : 03-26023740 Ref : RL/EMSB-LIT/11120-92 ETIKA AUCTION SERVICES (KL) SDN. BHD. (887731 M) KOK SENG HOE (Licensed Auctioneer) No. D2-U5-15 & D2-U5-13A, Solaris Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala Lumpur Tel: 03 6207 9157 Fax: 03 6207 9158 E-Mail : kl@etikaauction.com Website: www.etikaauction.com 2
PERISYTIHARAN JUALAN Dalam Perkara Perjanjian Pinjaman, Suratikatan Penyerahhakkan dan Surat Kuasa Wakil kesemuanya bertarikh 14hb Januari 2002 Antara EUCALYPT MORTGAGES SDN BHD (761862-K) Pihak Pemegang Serahhak (Mengambil alih akaun Defendan-Defendan dan kesemua hak & kepentingan HSBC Bank Malaysia Berhad melalui Perintah Letakhak oleh Mahkamah Tinggi Kuala Lumpur bertarikh 20.09.2007) Dan 1. SAMZARI BIN HASHIM Pihak Penyerahhak/Peminjam (NO. K/P BARU: 680901-05-5327) 2. NORAZIAH BINTI MOHAMED Pihak Penyerahhak (NO. K/P BARU: 700403-06-5288) Dalam menjalankan Kuasa dan Hak yang telah diberikan kepada Pihak Pemegang Serahhak di bawah Perjanjian Pinjaman, Suratikatan Penyerahhakkan dan Surat Kuasa Wakil kesemuanya 14hb Januari 2002 dimasukkan di antara Pihak Pemegang Serahhak dan Pihak Penyerahhak/Peminjam, adalah dengan ini diisytiharkan bahawa Pihak Pemegang Serahhak dengan dibantu oleh Pelelong yang tersebut di bawah Akan Menjual Hartanah Yang Dihuraikan Di Bawah Secara LELONGAN AWAM Pada Hari Rabu, 22hb November 2017, Jam 2.30 petang, Di Bilik Lelongan Etika Auction Services (KL) Sdn Bhd, No. D2-U5-13A, Solaris Dutamas, No. 1, Jalan Dutamas 1, 50480 Kuala Lumpur. Nota: (1) Sebelum lelongan dijalankan, bakal-bakal penawar adalah dinasihatkan supaya dan ia adalah tanggungjawab persendirian dan mutlak bakal-bakal penawar untuk :- (i) Memeriksa Hartanah tersebut; (ii) Membuat carian Hakmilik secara rasmi di Pejabat Tanah/Pejabat Pendaftar yang berkenaan; (iii) Mendapatkan pengesahan dari Pemaju dan/atau lain-lain Pihak Berkuasa atau badan-badan yang berkenaan atas ketepatan dan kesahihan identiti dan butir-butir Hartanah tersebut dan kesemua perkara berkenaan dengan Hartanah tersebut (termasuk dan tidak terhad kepada status pengeluaran dan pendaftaran suratan hakmilik berasingan, segi dan cara penyerahan atau pemindahan hakmilik di dalam Hartanah dan jumlah-jumlah wang yang perlu dibayar dan/ataupun yang terhutang berkenaan dengan Hartanah); (iv) Membuat siasatan yang berpatutan mengenai terma-terma dan syarat-syarat pembelian berikutan dari jualan lelongan ini dan pengesahan dan/atau terma-terma kebenaran untuk jualan ini, dengan pihak Pemaju dan/atau Pihak Tuanpunya dan/atau Pihak Berkuasa Negeri dan/atau badan-badan berkenaan; dan (v) Mendapatkan nasihat daripada pihak guaman yang bebas mengenai kesemua perkara berkenaan dengan jualan leloangan ini, termasuk berkenaan Syarat-Syarat Jualan (2) Adalah menjadi tanggungjawab bakal-bakal penawar untuk mendapatkan pengesahan dari pihak Pemaju dan/atau pihak-pihak berkuasa dan/atau badan-badan berkenaan yang relevan samada Hartanah tersebut adalah simpanan khas untuk Bumiputra dan/atau merupakan hartanah kos rendah dan samada penawar boleh dan adalah berkelayakan untuk membeli Hartanah. (3) Penawar yang berjaya ( Pembeli ) mengakujanji dan adalah dikehendaki dengan segera dan bertanggungan selepas jualan ini untuk memohon dan mendapatkan pengesahan/kebenaran yang berpatutan untuk penyerahanhak atau pindahmilik (jika ada) Hartanah ke atas nama Pembeli dari Pihak Pemaju dan/atau Tuanpunya Tanah dan/atau Pihak Berkuasa Negeri dan/atau lain-lain badan berkenaan, jika berkenaan. (4) Hanya tunggakan (jika ada) cukai tanah dan cukai taksiran yang tertunggak dan perlu dibayar bagi Hartanah tersebut setakat tarikh lelongan akan dibayar dari hasil jualan. 3
BUTIR-BUTIR HARTANAH: No Hakmilik Individu / No. Lot : PM 4776, Lot 19782 (dahulunya HS(M) 13050, Lot PT No. 29279) Tempat / Mukim / Daerah / Negeri : Tasik Putri, Rawang / Rawang / Gombak / Selangor Darul Ehsan Pegangan : Pajakan 99 tahun luput pada 30/05/2105 Keluasan Tanah : 1,604 kaki persegi / 149 meter persegi Pemaju : Rawang Lakes Sdn Bhd (No. Syarikat 144638-K) Pemilik Benefisial : SAMZARI BIN HASHIM & NORAZIAH BINTI MOHAMED Bebanan : Telah diserahhak kepada Eucalypt Mortgages Sdn Bhd (761862-K) (Mengambil alih akaun Defendan-Defendan dan kesemua hak & kepentingan daripada HSBC Bank Malaysia Berhad melalui Perintah Letakhak oleh Mahkamah Tinggi Kuala Lumpur bertarikh 20.09.2007) Lokasi dan Penerangan : Hartanah tersebut adalah satu unit rumah teres satu tingkat (lot tengah) dan dikenali sebagai No. Lot Pemaju No. 1647, Block 14B, di Bandar Tasik Puteri, Kundang, Rawang, Selangor Darul Ehsan dan beralamat pos di No. 6, Jalan 7/7, Jalan Puteri 7, Bandar Tasik Puteri, 48020 Kundang, Rawang, Selangor Darul Ehsan. Kategori Kegunaan Tanah : Bangunan Syarat Nyata : Bangunan Kediaman Sekatan Kepentingan : Tanah ini tidak boleh dipindahmillik, dipajak atau digadai melainkan dengan kebenaran Pihak Berkuasa Negeri NOTA : LOT BUMI HARGA RIZAB: Hartanah tersebut akan dijual dalam keadaan sepertimana sediada tertakluk kepada satu harga rizab sebanyak RM230,000.00 (RINGGIT MALAYSIA: DUA RATUS TIGA PULUH RIBU SAHAJA) mengikut Syarat-Syarat Jualan tertakluk kepada Pembeli memperolehi pengesahan /kebenaran dari Pihak Pemaju dan/atau Tuanpunya Tanah dan/atau Pihak Berkuasa Negeri dan/atau badan-badan berkenaan, jika berkenaan. DEPOSIT & TERMA-TERMA BAYARAN: Semua penawar-penawar adalah dikehendaki mendepositkan kepada Pelelong, sebelum lelongan dijalankan, sepuluh peratus (10%) daripada harga rizab dalam bentuk banker s cheque atau cashier s order sahaja atas nama EUCALYPT MORTGAGES SDN BHD. Penawar-Penawar dikehendaki membayar segala komisen/caj yang dikenakan oleh pihak bank pengeluar ke atas banker s cheque atau cashier s order. Baki harga belian hendaklah diselesaikan dalam masa satu ratus dan dua puluh (120) hari dari tarikh jualan. Untuk maklumat lanjut, sila hubungi Peguamcara bagi Pihak Pemegang Serahhak atau Pelelong Berlesen. Messrs Azhar & Wong Peguambela & Peguamcara 16-08, Tingkat 16, Menara Centara, 360, Jalan Tuanku Abdul Rahman, 50100 Kuala Lumpur Tel : 03-26023898 Fax : 03-26023740 Ruj : RL/EMSB-LIT/11120-92 ETIKA AUCTION SERVICES (KL) SDN. BHD. (887731 M) KOK SENG HOE (Licensed Auctioneer) No. D2-U5-15 & D2-U5-13A, Solaris Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala Lumpur Tel: 03 6207 9157 Fax: 03 6207 9158 E-Mail : kl@etikaauction.com Website: www.etikaauction.com 4
CONDITION OF SALE 1. This sale is made by Resolution Alliance Sdn Bhd (741959-H) ( the Assignee ) pursuant to the Vesting Order dated the 17 th day of April, 2008, the order transferring and assigning to the Assignee all rights and power under the Loan Agreement, Deed of Assignment and Power of Attorney all dated 14th Day Of January 2002 executed by SAMZARI BIN HASHIM & NORAZIAH BINTI MOHAMED ( the Assignor/Borrower ) in favour of HSBC Bank Malaysia Berhad (127776-V) subject to all conditions of title and category of land use, expressed, implied or imposed upon, relating to or affecting the Property and all liabilities and obligations pertaining to the Property. 2. All intending bidders shall be required to verify their identities by showing to the Auctioneer their identity cards prior to the commencement of the auction sale, failing which they shall not be entitled to bid. Any person who has not reached the age of majority as defined under the Age of Majority Act 1971 (Act 21) as at the date of the auction sale or is an undischarged bankrupt shall not be permitted to bid at the auction sale. A foreign citizen or foreign company is only allowed to bid for the Property with the prior written consent of the Foreign Investment Committee. Any intending bidder who intends to bid for and/or on behalf of another person (whether natural or otherwise whosever), is required to deposit with the Auctioneer prior to the auction sale, an original letter of authorisation which states that he is acting for and/or on behalf of such other person and that he/she is authorized to sign all necessary documents. 3. All intending bidders (with the exception of the Assignee who shall be at liberty to bid without having to pay any deposit whatsoever) are required to deposit with the Auctioneer prior to the auction sale, an amount equivalent to 10% of the reserve price (the Initial Deposit ) for the Property by BANKER S CHEQUE or CASHIER S ORDER made in favour of EUCALYPT MORTGAGES SDN BHD. However, the Auctioneer may but shall not be obliged to, at the Auctioneer s discretion and with the concurrence of the Assignee or the Assignee s solicitors accept the Initial Deposit whether wholly or partially in the form of banker s cheque, cashier s order, cash and/or if the service and facility is available on the auction date at the place of the auction sale, credit card payment. The payment shall be subject to the following provisos :- a. the intending bidder shall be solely and absolutely responsible and liable to bear any and all fees, commission and charges whatsoever and howsoever arising that may be incurred by, imposed on and/or be payable by the intending bidder, the Auctioneer and/or the Assignee as may be charged by the issuing bank in respect of the banker s cheque and cashier s order and/or charged by the bank on the credit card payment facility; b. after taking into account all fees, commission and charges whatsoever and howsoever arising that may be incurred, imposed and/or payable depending on the form of payment, the nett amount to be deposited with or received by the Auctioneer or the Assignee, as the case may be, must be an amount equivalent to Initial Deposit; and c. nothing herein shall however impose an obligation on the Auctioneer and/or the Assignee or be deemed a representation or warranty by the Auctioneer and/or the Assignee that the payment can be made by cash or credit card and that such payment by cash or credit card shall be accepted. 4. The Property is sold on an as is where is basis. It is the sole and absolute responsibility of and the onus is on all intending bidders to seek and obtain from the Developer and/or the relevant authorities or bodies, all confirmations and/or consents as may be required or as may be applicable in respect of the Property and the auction sale of the Property, and to satisfy themselves on the same and all matters in connection with the Property prior to the bidding (including and not limited to verifying the identity, particulars, state and conditions of the Property and the terms of the conditions and restrictions affecting the Property if any, whether or not the Property is reserved for Bumiputera only and/or is a low cost property, and matters relating to the ownership of the Property, the status of the separate document of title to the Property, the liabilities including amounts owing and obligations pertaining to the Property, and the Purchaser s eligibility and qualification to purchase the Property). The Purchaser shall be deemed to have full knowledge of all of the matters aforesaid. The Assignee, the Assignee s solicitors and the Auctioneer and their respective agents or servants do not in any way make any representation or warranty in respect of any of the aforesaid and shall not in any way be responsible or liable to the Purchaser in respect of any of the aforesaid. 5. Subject to the reserve price, the bidder offering the highest bid and being so allowed by the Auctioneer shall be the Purchaser of the Property but the Auctioneer reserves the right to regulate the bidding and the conduct of the auction sale and shall have the sole right to refuse any bid or bids without giving any reason for such refusal. The Auctioneer reserves the right to alter, add to or in any way amend these conditions of sale at any time prior to the auction sale. In the case of any dispute arising prior to, during or resulting from the auction sale, the Auctioneer shall have the absolute discretion and power to resolve the dispute (including but not limited to putting the Property up for sale again, accepting the last undisputed bid as the successful bid or withdrawing the Property from sale altogether) and the decision of the Auctioneer shall be final and binding in all respects and for all purpose whatsoever. 6. The Assignee and the Auctioneer shall be and are hereby at liberty with or without notice to postpone, call off or adjourn the auction sale or otherwise withdraw the Property from the auction sale at any time before the fall of the hammer. 7. The amount or quantum of the bid shall be determined by the Auctioneer and no bid shall be less than the preceding bid. Should there be a retraction of a bid whether before or after the fall of the hammer, the Initial Deposit of that particular bidder shall be forfeited forthwith by the Assignee and the Property may at the discretion of the Assignee be put up for sale again or the auction be adjourned altogether. 5
8. In the event that the auction comprises of more than one (1) property, the Auctioneer shall have the right to :- (a) determine the order of the sale; (b) offer the properties for sale either individually or collectively or in any combination or manner as determined by the Auctioneer; and/or (c) withdraw any of the properties from sale. 9. Without prejudice to any of the rights of the Assignee, the Assignee shall be entitled at the Assignee s sole and absolute discretion to forfeit the Initial Deposit paid and to put the Property up for auction sale again in the following circumstances :- (a) in the event that a bankrupt (whether acting in his personal capacity or as agent) successfully bids for the Property; (b) in the event a foreign citizen or company without the prior written consent of the Foreign Investment Committee successfully bids for the Property; (c) in the event that a non-bumiputra successfully bids for the Property whether being aware or not that the Property is reserved for Bumiputra only, and the non-bumiputra Purchaser is unable to obtain the consent of the Developer (if required) and/or relevant authorities to the assignment and/or transfer of the Property on or before the completion date as hereinafter defined; or (d) in the event that the Property is a low cost property and the Purchaser is not eligible and does not qualify to purchase the same. 10. Immediately after the fall of the hammer, the Purchaser (other than the Assignee if he is the Purchaser) shall pay to and in favour of the Assignee the difference between the sum equivalent to 10% of the successful bid and the Initial Deposit ( the Differential Sum ) whether wholly or partially in the form of cash, banker s cheque, cashier s order and/or if the service and facility is available on the auction date at the place of the auction sale, credit card payment, subject to the same provisos as stipulated in Clauses 3(a), (b) and (c) above but with any reference to the Initial Deposit being substituted as a reference to the Differential Sum. Thereafter the Purchaser shall execute the Memorandum of Sale herein. The Initial Deposit paid and the Differential Sum shall be considered as deposit ( the Deposit ) and part payment of the purchase price and the same will be held by the Assignee subject to Clauses 11 and 16 hereof. In the event that the Assignee is the Purchaser, the Assignee is at liberty to set off the purchase price against the amount due and owing by the Assignor to the Assignee including all costs and expenses whatsoever incurred in connection with the auction sale. 11. In the event that the Purchaser fails to pay the Differential Sum and/or fails to sign the Memorandum of Sale, the Initial Deposit paid shall be absolutely forfeited by the Assignee and the Assignee shall be entitled at the Assignee s absolute discretion to put the Property up for auction again at such time and reserve price to be fixed by the Assignee and the costs of such resale (or resales if more than one resale attempt) together with the deficiency in price (if any) which may result in the resale shall be a debt due and owing from the defaulting Purchaser to the Assignee and shall be recoverable by the Assignee from the defaulting Purchaser. A certificate signed by an officer of the Assignee as to the costs of and in connection with the resulting resale (or resales if more than one resale attempt) and the shortfall in the sale price (if any) shall be deemed and accepted as correct and conclusive for all purpose whatsoever. 12. The Purchaser shall within one hundred twenty (120) days from the date of the auction sale, if prior confirmation and/or consent as the case may be of the Developer and/or the relevant authorities or bodies for the sale and purchase, the assignment and/or the transfer of the Property to the Purchaser is applicable and necessary, apply to and obtain the said confirmation and/or consent as the case may be from the Developer and/or the relevant authorities or bodies. It shall be the sole and absolute responsibility of the Purchaser to apply for, to obtain and to comply with the confirmation and/or consent at the Purchaser s sole costs and expense. The Assignee shall not in any way be responsible or liable in connection with any of the aforesaid. The Purchaser shall comply with all the terms and conditions that may be imposed by the Developer and/or the relevant authorities or bodies as the case may be in granting and/or in the said confirmation and/or consent to the sale and purchase, the assignment and/or the transfer to the Purchaser within whichever is the shorter of the said one hundred twenty (120) days from the date of the auction sale or such period as may be specified by the Developer and/or relevant authorities or bodies and shall keep the Assignee and the Assignee s solicitors informed at all times of the development in that respect. All fees, charges and expenses in connection with or incidental to the application for, the attainment of and the compliance with the terms and conditions of the said confirmation and/or consent shall be borne by the Purchaser. 13. In the event that the confirmation and/or consent (if applicable and necessary) from the Developer and/or the relevant authorities and/or bodies when granted is subject to any condition which is not acceptable to the Assignee, then the Assignee shall in its absolute discretion be entitled without the need to provide any reason thereto to terminate the sale whereupon the sale shall be terminated and the Assignee shall refund to the Purchaser free of interest and without any compensation whatsoever, all the monies paid by the Purchaser to the Assignee towards the account of the purchase price but less all costs and fees incurred by the Assignee in connection with or in relation to the sale and the Purchaser shall not be entitled to and hereby expressly and irrevocable waives any claims, demands, rights and causes of action whatsoever against the Assignee, the Assignee s Solicitors, the Auctioneer and their respective servants or agents. 6
14. If it is deemed expedient, the Assignee may but without any obligation to do so, apply to and obtain from the Developer and/or relevant authorities or bodies the outstanding charges payable or the confirmation and/or consent (if applicable and necessary) to the sale and purchase, the assignment and/or the transfer of the Property to the Purchaser. For avoidance of doubt and notwithstanding the foregoing, the responsibility and the onus to apply and obtain from the Developer and/or the relevant authorities or bodies the outstanding charges payable and the confirmation and/or consent (if applicable and necessary) shall rest and remain solely and absolutely with the Purchaser. 15. (a) The balance of the purchase price ( the Balance Purchase Price ) shall be paid in full by the Purchaser to and in favour of the Assignee, whether wholly or partially in the form of cash, banker s cheque, cashier s order and/or if the service and facility is available at the offices of the Assignee, credit card payment, within one hundred twenty (120) days from the date of the auction sale ( the Completion Date ). The provisos as stipulated in Clauses 3(a), (b) and (c) above shall apply but with any reference to the Initial Deposit being substituted as a reference to the Balance Purchase Price (and if applicable, together with such interest or moneys payable pursuant to Clause 15(c) below). (b) The Assignee upon written request from the Purchaser, to be received at least twenty-one (21) days before the Completion Date ( the said period ), may at the Assignee s sole and absolute discretion extend the Completion Date. Without prejudice to and notwithstanding the foregoing, the Assignee reserves the right to and may at its sole and absolute discretion extend the Completion Date even if the written request is made to and/or received by the Assignee only after the said period or after the expiration of the Completion Date. For avoidance of doubt, the Assignee shall have absolute and unfettered right and discretion whether or not to grant to the Purchaser any extension of time. In the event extension of time is refused by the Assignee, there is no obligation on the Assignee to provide any reason for its decision whether or not the request was made before or after the said period or before or after the expiration of the Completion Date. (c) In amplification thereto, the Assignee in extending the Completion Date may impose such further condition(s) as the Assignee deems fit at the Assignee s absolute discretion (including and not limited to payment of interest). In the event payment of interest is imposed by the Assignee, the Purchaser shall pay to the Assignee interest at the rate to be determined by the Assignee on the Balance Purchase Price or such balance thereof calculated on a daily rests basis until full payment and the interest shall be paid together with the Balance Purchase Price or such balance thereof on or before the expiry of the extended Completion Date. 16. In default of payment of the Balance Purchase Price and interests payable (if any) within the time and manner as stipulated in Clause 15 or in the event the Purchaser becomes a bankrupt or dies prior to the payment of the Balance Purchase Price and the interests payable (if any), the Deposit shall be absolutely forfeited by the Assignee and the Assignee shall be entitled at the Assignee s absolute discretion to put the Property up for sale at the time, place and reserve price to be determined by the Assignee at its sole and absolute discretion. The costs of such resale (or resales if more than one resale attempt) together with the shortfall (if any) between the purchase price and the resale price which may result on a resale shall be a debt due and owing from the defaulting Purchaser to the Assignee and shall be recoverable by the Assignee from the defaulting Purchaser. A certificate signed by an officer of the Assignee as to the costs and expenses of, in connection with and resulting from such resale (or resales if more than one resale attempt) and the shortfall in the sale price (if any) shall be deemed and accepted as correct and conclusive for all purpose whatsoever. 17. (a) Upon and subject to full payment of the balance purchase price in accordance with Clause 15 hereof and all other moneys (if any) payable by the Purchaser in accordance with the terms and conditions herein contained, the Assignee shall execute or cause to be executed at the Purchaser s own and absolute costs and expense (including but not limited to legal fees, stamp duty, registration fees and such moneys payable and/or owing to the Developer and/or such relevant authorities and/or bodies) a deed of assignment or such other document of conveyance in whatsoever name called as may be prescribed, if any, by the Developer and/or the relevant authorities or bodies ( the Deed Of Assignment ), to be prepared by the Purchaser s solicitors, assigning the rights, benefit and/or interest in the Property and under the sale and purchase agreement upon and subject to such terms and conditions to be stipulated by the Assignee at its absolute discretion. (b) Thereafter and upon the Purchaser paying all such costs and expenses, including but not limited to the Assignee s solicitor s fees and disbursements in the preparation of the Deed of Assignment and any administrative costs and/or outgoings that may be imposed by the Developer and/or the relevant authorities or bodies, the Assignee shall deliver to the Purchaser the duly executed Deed of Assignment. 18. In the event that the separate document of title to the Property has been or is issued whether prior to, on or after the auction sale :- (a) the Assignee shall not be required to register its charge(s) nor to procure a memorandum of transfer in favour of the Purchaser from the Developer or the Proprietor (as the case may be); (b) if there are any restrictions in interests affecting the Property, the Purchaser shall comply with the restrictions in interests and ensure that the sale is completed within the time period as stipulated in Clause 15 above; and (c) upon and subject to the payment in full of the Balance Purchase Price in accordance with Clause 15 above and all other moneys (if any) payable by the Purchaser in accordance with the terms and conditions contained herein these Conditions Of Sale and upon and subject to the Purchaser at the Purchaser s own absolute responsibility and costs and expenses 7
obtaining the confirmation and or consent as applicable from the Developer and/or the Proprietor, the relevant authorities and/or bodies, as the case may be, for the sale and purchase and/or the transfer of the Property from the Assignee to the Purchaser as may be required :- (1) where the Developer (and/or the Proprietor as the case may be) and/or the relevant authorities and/or bodies is/are agreeable to a direct transfer the title in the Property to the Purchaser, it shall be the Purchaser s own absolute responsibility and at the Purchaser s sole and absolute costs and expense (including and not limited to legal fees, stamp duty, registration fees and such moneys payable and/or owing to the Developer and/or such relevant authorities and/or bodies) to prepare and obtain from the Developer, the Proprietor or such relevant authority or body, the Developer s, the Proprietor s or such relevant authority s or body s execution of the Memorandum of Transfer in respect of the Property as a direct transfer in favour of the Purchaser as transferee and all relevant documents in support for the registration of the said Memorandum Of Transfer. The Assignee, the Assignee s solicitors, the Auctioneer and their respective servants or agents do not in any way, form or manner make any representation or warranty whatsoever in respect of any of the aforesaid and shall not in any way be responsible or liable to the Purchaser for any of the same (including and not limited to obtaining the said Memorandum of Transfer and/or documents in favour of the Purchaser and/or any delay in obtaining any of the same); and (2) where the Developer (and/or the Proprietor as the case may be) and/or the relevant authorities and/or bodies is/are not agreeable to a direct transfer of the title in the Property to the Purchaser, it shall be the Purchaser s own absolute responsibility and at the Purchaser s sole and absolute costs and expense (including and not limited to legal fees, stamp duty, registration fees and such moneys payable and/or owing to the Developer and/or such relevant authorities and/or bodies) to prepare and submit to the Assignee s solicitors for the Assignee s execution, the Memorandum of Transfer in respect of the Property in favour of the Purchaser as transferee. In such situation, the Purchaser acknowledges and admits that the Purchaser shall not be entitled to and shall not present the Memorandum of Transfer in favour of the Purchaser as transferee for registration at the relevant land office / registry until and unless the memorandum of transfer in respect of the Property in favour of the Assignor as transferee shall have first been duly executed by the relevant persons and delivered to the Assignee s solicitors for the Assignee s or the Assignee s solicitors further action. The Purchaser shall be absolutely responsible for and shall be solely and absolutely liable for all fees, costs and expenses in connection with the preparation, stamping and registration of the memorandum of transfer in favour of the Assignor as transferee (including and not limited to the payment of any moneys payable or owing to the Developer and/or the relevant authorities and/or bodies). The memorandum of transfer in favour of the Assignor as transferee shall only be delivered to the Purchaser or the Purchaser s solicitors upon full payment of the Balance Purchase Price in accordance with the provisions of Clause 15 above and all other moneys (if any) payable by the Purchaser in accordance with the terms and conditions contained herein these Conditions Of Sale. The Assignee, the Assignee s solicitors, the Auctioneer and their respective servants or agents do not in any way, form or manner make any representation or warranty whatsoever in respect of any of the aforesaid matters and shall not in any way be responsible or liable to the Purchaser for any of the same (including but not limited to any delay that may arise in the delivery to the Purchaser or the Purchaser s solicitors the memorandum of transfer in favour of the Assignor as transferee and/or the Memorandum Of Transfer in favour of the Purchaser as transferee). 19. The Purchaser shall in all circumstance whatsoever be responsible and liable to pay in full any and all fees, costs and expenses in connection with, incidental to and/or pursuant to the assignment or transfer and all other documents necessary for effecting the assignment or transfer of the ownership in the Property to the Purchaser and/or that may in any way howsoever be incurred in relation to Clause 17 or Clause 18 above, including and not limited to stamp duty, registration fees and the Assignee s solicitors fees, costs and expenses whatsoever. The Purchaser warrants and undertakes that any such moneys payable to the Assignee or the Assignee s solicitors, shall be paid by the Purchaser prior to the Assignee s execution of the Deed Of Assignment or the Memorandum of Transfer in respect of the Property in favour of the Purchaser as transferee, as the case may be. 20. Notwithstanding Clauses 17 and 18 above and notwithstanding there being no default or breach on the part of the Purchaser, the Assignee shall be entitled whether before, during or after the execution and/or delivery as the case may be of the Deed Of Assignment or the Memorandum Of Transfer in favour of the Purchaser as transferee or the memorandum of transfer in favour of the Assignor as transferee, to terminate the sale of the Property to the Purchaser at the Assignee s sole and absolute discretion without the need to provide any reason thereto. In such an event the sale shall be terminated and be null and void and the Assignee shall refund free of interest and without any compensation whatsoever to the Purchaser, such moneys as may have been received by the Assignee from the Purchaser being payment towards the account of the purchase price of the Property. The Auctioneer, the Assignee, the Assignee s solicitors and their respective servants and agents shall not in any way be liable to the Purchaser for any compensation or damages whatsoever and the Purchaser hereby expressly and irrevocably waives any and all claims, demands, rights and causes of action whatsoever and howsoever arising that the Purchaser may have against any one or more of them in respect of and/or howsoever in connection with the auction sale and the Property. 21. Upon signing of the Memorandum of Sale, the Property shall be at the sole and absolute risk of the Purchaser as regards any loss or damage of whatsoever nature or howsoever occurring to the Property before, at or subsequent to the sale of the Property. 8
22. Subject to Clauses 10 and 15 hereof, in the event there is any balance of moneys due to the Developer by the Assignor or the Assignee under the principal Sale And Purchase Agreement, the Purchaser shall be liable to pay to the Developer such balance moneys. In the event that the balance moneys payable is/are outstanding progressive payment(s) due to the Developer in respect of the Property, the Purchaser shall:- (a) in the event that the Purchaser requires a loan to enable the Purchaser to complete the purchase herein, the Purchaser shall within the time stipulated in Clause 15 hereof, cause the Purchaser s financier to issue a letter of undertaking in favour of the Developer to pay the balance progressive payment according to the schedule of payment in the principal Sale And Purchase Agreement and to release the Assignee from all obligations and liability of payment; (b) in the event that the Purchaser does not require a loan to enable the Purchaser to complete the purchase herein, the Purchaser shall within the time stipulated in Clause 15 hereof, procure a bank guarantee to pay the balance progressive payment according to the schedule of payment in the principal Sale And Purchase Agreement made in favour of the Developer and to release the Assignee from all obligations and liability of payment; (c) any payment due and payable to the Developer after the date of the auction sale, including the balance progressive payment according to the schedule of payment in the principal Sale And Purchase Agreement, charges, interest and penalty as a result of the delay by the Purchaser in giving any undertaking/bank guarantee stated in Clause 22 (a) and (b) hereof, shall be borne by the Purchaser absolutely; and (d) in the event that the Purchaser shall fail, neglect and/or refuse to procure a letter of undertaking/bank guarantee in accordance with Clause 22 (a) and (b) hereof, the Assignee shall be entitled to terminate the sale by notice in writing to the Purchaser whereon the Deposit shall be forfeited by the Assignee and the Assignee shall be entitled at the Assignee s absolute discretion to put the Property up for sale at a date, time and reserve price to be fixed by the Assignee. The costs and expenses of, in connection with and resulting from such resale (or resales if more than one resale attempt) together with any deficiency in the price obtained in the resale compared to the price obtained in the earlier auction sale shall be a debt due and owing from the Purchaser to the Assignee and shall be recoverable by the Assignee from the defaulting Purchaser. A certificate by an officer of the Assignee as to the costs and expenses of, in connection with and resulting from such resale (or resales if more than one resale attempt) and the shortfall in the sale price (if any) shall be deemed and accepted as correct and conclusive for all purpose whatsoever. 23. Only arrears (if any) of quit rent and assessment, which are legally due to any relevant authorities or the Developer up to the auction date shall be paid out of the purchase money upon the receipt thereof by the Assignee provided that the Assignee is in receipt from the Purchaser, the relevant bills issued by the Developer or the relevant authorities, within one hundred twenty (120) days from the date of the auction date, failing which the same shall be borne by the Purchaser. Unless otherwise agreed to in writing by the Assignee (and subject to such terms and conditions as the Assignee may in its absolute discretion impose), the Purchaser shall bear and pay all other charges and/or outgoings not specified herein whether in arrears, current or contingent, including and not limited to the charges for water, electricity, gas, sewerage, insurance premiums, sinking funds, maintenance charges and interest which might be due to any relevant authorities and/or bodies or the Developer. 24. The Assignee has no notice or knowledge of any encroachment or that the Government or other authority has any intention of acquiring the whole or any part of the Property for any purpose whatsoever and if such encroachment shall be found to exist or if the Government or any local authority has any such intention, it shall not annul the sale nor shall any reduction on the sale price of the Property or compensation be allowed in respect thereof. 25. (a) The Property is believed to be and shall be taken to be correctly described and is sold subject to all expressed and implied category of land use, conditions, restriction-in-interest, easements, leases, tenancies, occupiers, charges, caveats, previous sale and purchase agreements, previous assignment, covenants, liabilities (including and not limited to liabilities to local authorities incurred but not ascertained and any rates imposed but not demanded), encumbrances and right, (if any), subsisting thereon or thereover whether prior to, during and/or after the auction sale, without any obligation on the Assignee or the Auctioneer to define the same herein respectively and the Purchaser shall be deemed to have full knowledge of the same and to be bound thereby. No error, mis-statement, omission or mis-description of the Property or any matters in connection with the Property howsoever and whensoever arising, shall annul the sale nor shall any compensation be allowed in respect thereof. In furtherance thereto, any payment which may be imposed by the relevant authorities and/or the Developer shall be solely and absolutely borne and paid by the Purchaser. (b) If the land or floor area of the Property is found to exceed that as described and additional payment is imposed for the excess area by the Developer and/or relevant authorities, then such additional payment shall be solely and absolutely borne and paid by the Purchaser. (c) If the land or floor area of the Property is found to be less than that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such other party and neither the Assignee, the Assignee s solicitors nor the Auctioneer shall in any way be responsible or liable for such claim. The auction sale herein shall not be annulled and there shall not be any adjustment of the Purchase Price as a result of such shortfall in the area of the Property. 9
26. Without prejudice to the provisions of Clause 20 above, in the event that the sale is set aside for any reason whatsoever (save and except for any default, breach or omission by or on the part of the Purchaser) by the Assignee, or by an Order of Court, or as a result of the Purchaser failing to obtain (if applicable and necessary) the consent of the Developer and/or of any relevant authority and/or body to the sale and purchase and/or the assignment or transfer of the Property to the Purchaser, the sale shall become null and void and be of no further effect and the Assignee shall refund to the Purchaser such moneys received by the Assignee from the Purchaser towards the account of the purchase price, free of interest and without any compensation whatsoever, and less all fees, costs and expenses whatsoever incurred by the Assignee in connection with or relating to the auction sale. The Purchaser shall not be entitled to and hereby expressly and irrevocably waives any and all claims, demands, rights and causes of action whatsoever against the Assignee, the Assignee s Solicitor, the Auctioneer and their respective servants or agent on account thereof. A certificate by an officer of the Assignee certifying such fees, costs and expenses shall be final and conclusive for all purpose whatsoever and shall be binding on the Purchaser. 27. The Purchaser after the payment of the Balance Purchase Price in full together with accrued interest thereon, if any shall at the Purchaser s own costs and expenses take possession of the Property and the Assignee and the Assignee s servants and agents have no obligation whatsoever to deliver vacant possession of the Property to the Purchaser. The Assignee, the Assignee s solicitors, the Auctioneer and their respective servants and agents make no representation or warranty as to the delivery of vacant possession of the Property. 28. All necessary investigation required by intending bidders for the purpose of this auction shall be made by the intending bidders themselves who shall bear all costs and expenses relating hereto. All intending bidder including Purchaser shall be deemed to have read, understood and accepted these Conditions of Sale governing the auction. 29. Unless expressly provided herein, the Assignee, the Assignee s Solicitors and the Auctioneer or any of them or their respective agents or servants shall under no circumstances whatsoever be liable to any bidder or the Purchaser, including but not limited to liability in tort or contract or in relation to any matter or thing arising out of or in connection with, or in respect of the auction sale and/or of the Property howsoever caused or arising before, at or subsequent to the sale of the Property. The Purchaser hereby expressly and irrevocably waives any and all rights, claims and remedies that the Purchaser may have contrary to the foregoing. 30. All statements made in the Proclamation of Sale and these Conditions of Sale or otherwise relating to the Property are made without responsibility and liability whatsoever and howsoever arising on the part of the Assignee, the Assignee s solicitors and the Auctioneer or any of them or any of their respective agents or servants. No such statement may be relied upon as a statement or representation of fact or warranty whatsoever. Bidders shall be solely and absolutely responsible to satisfy themselves by inspecting or otherwise as to the correctness of any such statement and neither the Assignee, the Assignee s solicitors, the Auctioneer nor any of their respective agents or servants has any authority to make any representation or give any warranty whatsoever in relation of the Property. 31. In the event that the sale is terminated for any reason whatsoever and the Purchaser has taken possession (whether vacant possession or otherwise) of the Property, the Purchaser shall at the sole costs and expense of the Purchaser immediately upon such termination redeliver vacant possession of the Property on the part of the Purchaser to the Assignee. 32. For the purpose of these conditions, time shall be essence of these conditions. 33. Any notice, request or demand required to be served on the Purchaser shall be in writing and shall be deemed to have been sufficiently delivered and served for all purpose whatsoever notwithstanding if it is subsequently returned undelivered, if it is sent by prepaid registered post to or left by hand at the Purchaser s address as stated herein or to the Purchaser s solicitors and whereby such notice, request or demand shall be deemed for all purpose to have been delivered and received in the event of service by registered post, twenty four (24) hours after posting and in the event of service by leaving by hand, at the time the same was left by hand. All notices to the Assignee shall be in writing and shall be served on the Assignee by A.R. Registered Post or by hand. 34. In the event of any discrepancies, mis-statement, misrepresentation, omission or error appearing in the translations of particulars and condition herein, the English Language text shall prevail. 35. The Proclamation of Sale and the terms of this Conditions of Sale are to be read together and shall be part of the Memorandum of Sale. 36. If any term contained herein shall be in whole or in part held to be void, illegal or unenforceable under any rule of law, that term shall be to that extent be deemed not to form part of this Conditions of Sale and the sale shall not be in any way be affected thereby. 10