Annexure to Contract for Sale of Land

Vendor: Robert and Anne Fletcher

Special Conditions

1. 1.
   The Purchaser accepts the property with all defects and encroachments and, subject to the statutory warranties and the other terms of this contract, shall make no objection, requisition or claim.
2. 2.
   After 5pm on the completion date, a party may serve a notice to complete requiring completion not less than 14 days after service, time being of the essence. The party serving the notice is entitled to an allowance of $200.00.
3. 3.
   The Purchaser warrants they were not introduced to the property by any agent other than the agent named, and indemnifies the Vendor against any commission claim.
4. 14.
   If this contract is not completed by the completion date (other than through the Vendor’s default), the Purchaser will pay interest on the balance at the rate of 10% per annum, calculated on daily balances, as a genuine pre-estimate of liquidated damages.
5. 5.
   A right to damages for the Purchaser does not attach to any breach by the Vendor of a statutory warranty.
6. 6.
   The Purchaser’s general requisitions are limited to the requisitions attached to this contract.
7. 7.
   The printed provisions of this contract are amended as follows:

   1. 7.1

      Delete subclause 7.1.1.

   2. 7.2

      Delete the words “on reasonable grounds” from subclause 8.1.1.

   3. 7.3

      Add “or the actual reading” to subclause 14.7.

8. 8.
   The Vendor warrants that any buildings on the land comply with the relevant building and planning regulations.
9. 9.
   If settlement does not occur on the scheduled date due to the Purchaser’s default, the Purchaser shall pay all fees including but not limited to agency fees, re-certification fees and the Vendor’s conveyancer fees incurred in re-arranging settlement. The Purchaser agrees that the Vendor’s fee for re-arranging settlement is $220.00 inclusive of GST.
10. 10.
    The Vendor and Purchaser agree that if the Vendor requires the deposit on completion to discharge a mortgage or as settlement funds, the Purchaser authorises the deposit-holder to release it at settlement, provided it is returned within 48 hours if settlement does not occur.