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If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 18 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 18 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 701 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 18 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 18 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 702 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 703 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 704 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 705 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 706 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 707 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 708 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 709 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 710 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 711 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 712 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 713 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 714 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 715 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 716 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 717 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 718 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 719 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 720 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 721 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
the Vendor may rescind this Contract in accordance with the Act.
| 722 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date:
(i) the Purchaser may, by written notice to the Vendor prior to the Plan of Subdivision being registered, rescind this Contract; or
(ii) the Vendor may rescind this Contract in accordance with the Act.
| 723 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 724 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 725 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
(a) This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
(b) Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 726 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 727 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
Sunset Date
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 728 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale (Sunset Date).
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 729 |
If the Plan of Subdivision (“POS”) is not registered or the Occupancy Permit is not issued within 45 months either party may terminate the Contract.
|
This Contract is subject to and conditional upon registration of the Plan of Subdivision by the Registrar of Titles and issue of an Occupancy Permit by the date which is 45 months from the Day of Sale.
Subject to the Act, if the Plan of Subdivision is not registered by the Registrar of Titles or an Occupancy Permit has not been issued by the Sunset Date
| 730 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 731 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 732 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 733 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 734 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 735 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 736 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 737 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 738 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 739 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 740 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 741 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 742 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 743 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 744 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 745 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 746 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 747 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 748 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 749 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 750 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 751 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 752 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 753 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 754 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 755 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 756 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 757 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 758 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 759 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 760 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot . (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 761 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot . (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 762 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 763 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 764 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 765 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 766 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 767 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 768 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 769 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 770 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 771 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 772 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 773 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 774 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 775 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 776 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 777 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 778 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 779 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 780 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 781 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 782 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 783 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 784 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 785 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 786 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 787 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 788 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 789 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 790 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 791 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot. (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 792 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot . (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 793 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
the Vendor providing the notice required under section 9AC(1) of the Act; and the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: (i) a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and (ii) should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale; and P is the Price set out in this Contract
(iii) a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and (iv) should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: (v) The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot . (vi) for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. (vii) where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 794 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 795 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 796 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 797 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land (excluding balconies)
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 798 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
Variations and Alterations to Plan
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 799 |
The Vendor may make a variation to the POS but any variation cannot cause a material variation of the floor plan by more than 7% and if that does occur the purchase price will be reduced by using the formula in 4.3(b).
This has been reduced to 5% by way of SC37.6.
|
(a) Subject to:
(i) the Vendor providing the notice required under section 9AC(1) of the Act; and (ii) the Purchaser’s right of rescission under section 9AC(2) of the Act, the Vendor may make any variation or alteration to the Plan of Subdivision, including the lot entitlement and lot liability as set out in the Owners Corporation Schedule in respect of the Plan of Subdivision. (b) The Purchaser acknowledges that a variation to the Plan may result in a change to the floor area of the Land. The Vendor and Purchaser agree that: a change to the floor area of the Land of less than 7% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the Land (excluding balconies) of more than 7%, then the Purchaser may not rescind the Contract, but instead the purchase Price for the Land will be adjusted as follows: AP = A x P
I Where:
AP is the adjusted Price
A is the actual area of the Land
I is the proposed area of the Land as at the Day of Sale (excluding balconies); and P is the Price set out in this Contract
a change to the floor area of the balcony on the Land of less than 10% is not a material variation for the purposes of section 9AC(2) of the Act; and should there be a decrease to the floor area of the balcony on the Land of more than 10%, then the Purchaser may not rescind the Contract, but instead the purchase Price will be adjusted as follows: The Price shall be reduced by an amount calculated by multiplying the area in square meters by which the balcony has decreased by 25% of the Price per square metre payable for the Lot (calculated having regard to the total area of the Apartment and balcony). for the purposes of this Special Condition, the floor area of the Land shall be determined by reference to Architectural Plans. where in this Contract or any annexure there is a reference to an area, that area shall be deemed to have been calculated in accordance with the Property Council of Australia Method of Measurement Guidelines unless expressly stated to the contrary.
(c) The Purchaser acknowledges that, prior to the registration of the Plan of Subdivision, the Vendor may subdivide or consolidate any and all of the lots on the Plan of Subdivision. (d) Section 10(1) of the Act does not apply to this Contract in respect of the final location of any easement shown on the Plan of Subdivision. (e) The Purchaser agrees to do all acts, matters and things and to execute all documents necessary to enable the Vendor to obtain registration of the Plan of Subdivision.
(f) The Purchaser acknowledges that the position and allocated number of the car park being sold with this Contract may vary from that set out in the Particulars of Sale. The Purchaser agrees that, so long as the car park is within 20 metres from the position of the car park marked on the plan annexed to this Contract, the Purchaser shall not object to that variation to the Plan of Subdivision and this Contract, and the Purchaser agrees that this variation shall not be a material amendment to the Plan of Subdivision.
(g) The Vendor may apply to vary the Planning Permit to permit construction of additional floors. In the event the Planning Permit is varied, there shall be no change to the area or position of the Lot. The lot entitlement and lot liability for any additional Lots will be calculated on the same basis as has been used to create the entitlements and liabilities as set out in the Plan. The Purchaser agrees that the construction of any additional Lots will not materially affect the Lot to which this Contract relates and shall not give the Purchaser the right to rescind the Contract under section 9AC of the Act.
| 800 |
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