Professional Documents
Culture Documents
THE SELLER
And
THE PURCHASER
1.
1.1
Captions have been inserted for the purposes of convenience only, do not
form part of this agreement, and are to be entirely disregarded in the
interpretation thereof.
1.2
1.3
The following terms and expressions shall have the meanings set out
respectively hereunder and cognate expressions shall bear corresponding
meanings :
1.3.1
WITH
LIMITED
LIABILITY,
HAVING
REGISTRATION
1.3.2
1.3.3
1.3.4
TOWNSHIP
The
TOWNSHIP
means
LAKEFIELD
EXTENSION
58
1.3.5
The
PRICE
shall
mean
the
sum
of
R____________
(words____________________________________________________)
inclusive of Value Added Tax ;
1.3.6
The ACT shall mean the alienation of Land Act No 68 of 1981 (as
amended);
1.3.7
INITIAL
DEPOSIT
shall
mean
the
sum
of
R_____________
(words____________________________________________________);
1.3.8
1.3.9
over
the
property
in
an
sum
of
R_______________________________.
2.
SALE
2.1
The SELLER hereby sells to the PURCHASER who hereby purchases from the
SELLER, the PROPERTY, for the PRICE and upon the terms and conditions
herein set out.
2.2
2.2.1
2.2.2
2.3
3.
PURCHASER, including the right to collect rentals accruing and the liability for any
rates and taxes, levies and any other imposts levied thereupon.
4.
HOMEOWNERS ASSOCIATION
4.1
4.1.1
4.1.2
4.2
4.3
4.3.2
4.4
5.
5.1
The SELLER has determined the architectural theme and aesthetic design
parameters of the development and the PURCHASER and the PURCHASERS
successors in title shall be obliged to construct improvements on the
PROPERTY in accordance with such architectural theme and aesthetic
design, and shall not be entitled to alter or make additions to the
improvements on the PROPERTY in contravention of such theme and design
without the approval of the HOMEOWNERS ASSOCIATION.
5.2
6.
CONDITIONS PRECEDENT
6.1
6.1.1
BUILDING CONTRACT
6.1.1.1
in
accordance
with
the
prescribed
6.1.1.2
6.1.2
6.1.2.1
6.1.2.2
6.1.3
6.1.3.1
That
the
PURCHASERS
property
known
as
___________________________________________________and/or
situate at_________________________________________________ be
sold within a period of 60 (SIXTY) days from date of signature of
this Agreement.
6.2
6.2.1
The PURCHASER may at any time prior to the fulfillment of the above
suspensive
conditions,
advise
the
SELLER
in
writing
that
the
6.2.2
7.
7.1
In the event that the PURCHASER, after having taken transfer of the
PROPERTY as contemplated herein, wishes to sell the PROPERTY to a third
party, prior to the final completion of the building contract, and the
fulfillment of all the obligations of both the PURCHASER and the
CONTRACTOR in accordance therewith, the prospective PURCHASER of the
PROPERTY shall be obliged to take over all the terms and conditions of the
building contract and shall further be obliged to satisfy the CONTRACTOR
that such prospective PURCHASER shall be competent and able to fulfill
same.
7.2
Until such time as sub clause 7.1 has been fulfilled, the PURCHASER shall not
be entitled to dispose of the PROPERTY without the express written consent of
the SELLER first being had and obtained, and the SELLER may, be entitled to
prevent the PURCHASER from disposing of the PROPERTY until such time as
sub clause 7.1 above has been fulfilled.
8.
TRANSFER
8.1
8.2
All costs relating to the registration of the transfer of the PROPERTY, and,
where appropriate, the registration of the mortgage bond to be registered
over the PROPERTY in order to secure payment of the sums due in terms of
this agreement shall be paid by the PURCHASER who shall deposit same with
the Conveyancers by no later than the date upon which the PURCHASER is
obliged to secure payment of the PRICE in terms of this agreement.
9.
BREACH
9.1
Should the PURCHASER fail to pay the amount referred to in Clause 2.2.1, or
to furnish the guarantees referred to in Clause 2.2.2 above by the dates
mentioned therein, or fail to comply with any other obligation in terms of this
contract, within 10 (TEN) days of the date of dispatch by prepaid registered
post, or the date of transmission by facsimile, or the date of hand delivery of
written notice requiring the PURCHASER to carry out the obligations in
question, then and in such event, the SELLER shall be entitled, without
prejudice to any other rights which the SELLER may have available at law, to
:
9.1.1
9.1.2
9.2
10.
AGENT
10.1
The PARTIES record that they were introduced by the AGENT, who was the
effective cause of this agreement of sale.
10.2
10.3
In the event of the agreement being cancelled at any time for any reason
whatsoever, or in the event of transfer not being effected, the AGENT shall
not be entitled to claim COMMISSION from the SELLER, but in the event that
the cancellation was effected as a result of the PURCHASERS breach of
contract, the AGENT will in that event, be entitled to claim COMMISSION in
the amount aforestipulated from the PURCHASER.
11.
11.1
For all purposes arising out of this contract, the parties hereby select as their
respective domicilium citandi et executandi, for the delivery of all notices
and/or processes in terms hereof the addresses allocated to the SELLER and
PURCHASER respectively under Clause 1 hereof.
11.2
11.3
11.4
11.5
Either party may from time to time change their domicilium citandi et
executandi to another address within the Republic of South Africa by
delivery of written notice to the other party to that effect.
13.
CONSENT TO JURISDICTION
13.1
13.2
14.
GENERAL
14.1
This agreement of sale constitutes the entire contract between the parties
and no other condition, stipulation, warranty or representation whatsoever
shall be of any force or effect other than are included herein.
14.2
14.3
Any relaxation which the SELLER may give at any time or any extension of
time which the SELLER may grant to the PURCHASER, shall not prejudice any
of the SELLERS rights under and in terms of this agreement in any manner
whatsoever nor shall it be regarded as a waiver or novation of any of the
SELLERS rights in terms hereof.
AS WITNESSES :
1.
________________________
2.
________________________
______________________________
PURCHASER
AS WITNESSES :
1.
________________________
2.
________________________
_____________________________
SELLER
AS WITNESSES:
1.
________________________
2.
________________________
________________________________
SELLER
AS WITNESSES:
1.
________________________
2.
________________________
________________________________
AGENT