Banghoek 2367 – Stellenbosch · 2016-06-21 · means Erf 2367 Stellenbosch in the Municipality and Division of Stellenbosch, Province of Western Cape; 1.9 occupation date: means

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Banghoek 2367 – Stellenbosch

OFFER TO PURCHASE

I, the undersigned

FULL NAMES/INDIVIDUAL/COMPANY/CC/TRUST

FULL NAMES

ID / REG NUMBER:

PHYSICAL ADDRESS

POSTAL ADDRESS

MARITAL STATUS:

TEL NO. HOME:

TEL NO. WORK

TEL NO. MOBILE:

FAX NO:

E-MAIL ADDRESS:

(hereinafter referred to as “the Purchaser”)

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do hereby offer to purchase from

SADC INFRASTRUCTURE CONSULTING (PTY) LTD

Registration number (2004/012543/07)

represented herein by Dr IZAK JOHANNES BOTHA in his capacity as director of the company, being duly authorised thereto

(hereinafter referred to as "the Seller")

the sectional title unit/s and or exclusive use areas more fully described in Annexure "B" and Annexure "C" hereto for the purchase price referred to in clause 3 of Annexure "A" and upon the terms and conditions as set out in Annexure "A".

ANNEXURE "A"

RECORDAL

A. It is recorded that the Seller is the registered owner of Erf 2367 Stellenbosch (the “Parent Property”); and

B. the Seller has obtained approval from the relevant authorities to erect a building/buildings on the Parent Property; and

C. the Seller has registered a Sectional Title Scheme, known BANGHOEK 2367 in terms of the Sectional Titles Act No. 95/1986 on the Parent Property; and

D. the Seller is entitled to sell and transfer individual units in the sectional title scheme.

1 DEFINITIONS:

In this agreement unless inconsistent with the context the following words and phrases shall have the meanings set out hereunder.

1.1 the act:

means the Sectional Titles Act No. 95 of 1986 as amended and includes the regulations framed there-under or as amended from time to time.

1.2 the architect:

means Malcolm Macleod Architects Reg. No. 7293 or such other architects appointed to act as such from time to time by the Seller.

1.3 the attorneys:

means Van der Westhuizen Vos & Horn (contact person Anton Vos), or such other attorneys appointed to act as such from time to time by the Seller.

1.4 the building:

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means the buildings constructed upon the Parent Property and known as Banghoek 2367 as

more fully depicted on Annexure "B".

1.5 common property:

means common property as defined in Section 1(1) of Act 95 of 1986.

1.6 the development :

means the land with buildings comprising the units erected thereon as contemplated in Clause A of the preamble hereto in respect of which the Seller registered a sectional title scheme in accordance with the plans annexed hereto as Annexure "B".

1.7 exclusive use area:

means the areas demarcated for exclusive use and depicted as such in Annexure "C" in respect of the development.

1.8 the Parent Property

means Erf 2367 Stellenbosch in the Municipality and Division of Stellenbosch, Province of Western Cape;

1.9 occupation date:

means **date of registration of transfer of the property in the name of the Purchaser /

__________________________________________________________ (**delete which is not applicable) provided that payment of the purchase price has been secured as required in terms of clause 3.

1.10 participation quota:

means the participation quota of the unit being the quota of the unit as per Annexure "B" hereto being the quota determined in terms of Sections 32(1) of the act.

1.11 the property:

means unit/s no____________ together with the right of exclusive use to parking in terms of Section 27A of the Act hereby purchased numbered as such on Annexure "C".

1.12 rules:

means the Management Rules prescribed in terms of Section 35 of the Sectional Titles Act and the Conduct Rules contained in Annexure "D" hereto;

1.13 the unit

means the section hereby sold forming part of the development and includes an undivided share in the common property apportioned to the section in accordance with the participation quota of the section.

1.14 Words signifying the singular shall include the plural and vice versa and words importing the masculine gender shall include the feminine and neuter and vice versa.

1.15 The head notes to the clauses in this Agreement are inserted for reference purposes only, and shall not affect the interpretation of any of the provisions to which they relate.

1.16 The schedule and the annexures hereto are deemed to be incorporated in, and form part of this Agreement.

1.17 Words or expressions defined in the act shall have the meanings therein defined.

2 PURCHASE AND SALE:

The Seller sells and the Purchaser purchases the property referred to in clause 1.11 which property is further

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identified in Annexure "B" and Annexure "C".

3 PURCHASE PRICE AND PAYMENT

3.1 The purchase price of the property hereby sold, inclusive of value added tax at 14% (FOURTEEN PER

CENTUM) is

R_______________________________________________________________________________________

(___________________________________________________________________________________Rand)

If, notwithstanding the rate of value added tax ('VAT") of Fourteen per centum (14%) applicable to this transaction at the date of signature hereof, the amount of VAT payable on this transaction is increased or decreased, then the purchase price shall be adjusted upward or downward in accordance with such increase or decrease as the case may be so as to take into account the variation in VAT payable above or below fourteen per centum (14%).

Should the Seller be obliged to pay any duty, charge or other like or similar taxes to any lawful authority arising from this sale or imposed upon the subject matter of this sale, in addition to VAT then the Seller shall be entitled to recover from the Purchaser who shall be obliged to pay to the Seller any such amounts forthwith after payment thereof by the Seller.

3.2 The purchase price is payable in cash as follows:

3.2.1 The deposit equal to 10% (ten per centum) of the full Purchase Price, being

R_______________________________________________________

(_______________________________________________________________________________Rand)

is payable by the Purchaser to the attorneys on acceptance of the offer by the Seller. Payment of the

aforesaid deposit shall be made by the Purchaser drawing a cheque for the said deposit amount in

favour of the attorneys against signature hereof or transferring the said deposit electronically into the

trust account of the attorneys, being

Van der Westhuizen Vos & Horn Trust Account, Absa Bank, Stellenbosch, Branch code 334410, Account number 4045467196.

3.2.2 The Purchaser shall pay the full balance of the purchase price on date of registration of transfer of the Property into the name of the Purchaser, payable in cash, free of commission or exchange, to the attorneys. The Purchaser shall secure payment of the full balance of the purchase price by issuing and delivering to the attorneys, within 14 (fourteen) calendar days after date of signing hereof, a formal banker’s guarantee, issued by a recognised South African commercial bank, in favour of the attorneys or their nominees for payment of the full balance of the purchase price, on such terms and conditions that the attorneys are entitled to prescribe in their sole discretion, alternatively in the event of their being suspensive conditions relating to this agreement, issuing and delivery such formal banker’s guarantee to the Seller’s attorneys within 14 (fourteen) calendar days after the due fulfilment of such suspensive conditions or their waiver. The aforesaid guarantee shall be issued in favour of Van der Westhuizen Vos & Horn for the credit of account number 4045467196 with Absa Bank, Stellenbosch, branch code 334410.

3.3 All payments to be effected to the Attorneys unless otherwise required by the Seller.

3.4 The deposit and any other amounts paid by the Purchaser on account of the purchase price shall be retained in trust by the attorneys until registration of transfer. The parties irrevocably authorise the attorneys to invest such monies with a Bank/Financial Institution in terms of section 78(2A) of the Attorneys Act (determined in the discretion of the attorneys), the interest thereon accruing to the Purchaser.

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4 OCCUPATION RENTAL

If the occupation date is before the date of registration of transfer of the property into the name of the Purchaser, the Purchaser shall be liable for the payment of occupational rental of R5 000,00 (FIVE THOUSAND RAND), per month or pro-rata portion thereof, which shall be inclusive of deemed VAT, payable monthly in advance, from the date of occupation until date of registration of transfer of the property in the name of the Purchaser to the attorneys.

5 OCCUPATION 5.1 The Purchaser will be given occupation of the property, subject to any lease, on the occupation date.

5.2 Until the date of registration of transfer of the property in the name of the Purchaser, the Purchaser shall not sell, let or in any other manner dispose of or part with the property or any of his rights thereto without the Seller 's written consent first being had and obtained. When granting consent the Seller shall be entitled to impose such reasonable conditions as it considers necessary.

6 LEASE AGREEMENT [DELETE IF NOT APPLICABLE]

6.1 The Purchaser is aware and understands that the property is at present leased to a third party and that this agreement is consequently subject to any rights the Tenant may have in terms of the agreement of lease and / or any regulations. The Purchaser records that he has availed himself fully of the nature and extent of the agreement of lease relating to the property. A copy of the lease agreement is attached hereto marked Annexure "G".

6.2 The Seller shall be entitled to all rent and other amounts payable in respect of the property, in respect of the period up to the transfer date, where after the Purchaser shall be entitled thereto.

6.3 For the aforementioned purposes, the Seller shall, with effect from the transfer date, procure the cession to the Purchaser of all the landlord’s rights, title and interest under, in and to any lease agreements relating to the property, in so far as and to the extent of this being necessary, and the Purchaser hereby accepts the cession (if any).

6.4 The Seller shall by no later than the transfer of the property into the name of the Purchaser also procure the change of the payment-instructions in any lease agreements, to the effect that any payments under any lease shall be effected to the Purchaser, as from the transfer date; and the change of any contact-details/addresses of the Seller to those of the Purchaser.

6.5 If any amounts payable under any lease agreement relating to the property, in respect of the period up to the transfer date, have not been paid by the tenant/s as at the transfer date, the Seller shall be entitled to claim same from the said tenant/s and the Purchaser hereby accordingly undertakes to cede any required claims of action to the Seller, in so far and to the extent that it should be required.

6.6 The Seller shall be responsible and liable for all obligations and liabilities relating to any leases in respect of the property which are attributable to the period before the transfer date and the Seller undertakes to settle same on or before the transfer date, while the Purchaser shall be responsible and liable for all obligations and liabilities relating to any leases in respect of the property which are attributable to the period on and after the transfer date.

6.7 The Seller hereby undertakes to do and to procure the doing by others, all such acts, to the extent that the same may lie within the Seller’s power and may be required, to ensure compliance and enforce all terms and conditions of all leases relating to the property, in respect of the period up to the transfer date.

6.8 All deposits (including interest thereon, if any tenants are entitled thereto) (if any), which were at any time paid by tenants, in respect of the Property, shall be paid by the Seller to the Purchaser, on the transfer date (except for deposits which have already been refunded to tenants as at the transfer date and except for any deposit amounts applied by the Seller in terms of the relevant leases, as at the transfer date - if any).

6.9 Notwithstanding anything to the contrary contained herein, the Seller hereby warrants, that no amounts (present or future, contingent or otherwise) will be owing or payable to the tenants by the owner of the Property (the Seller/the Landlord) as at the transfer date (including but not limited to any claims by any tenants for any compensation or consideration for any improvements on/to the Property)(except for any deposits which have been paid by tenants, which are paid to the Purchaser as per clause 6.8.

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7 POSSESSION AND RISK

Possession of the property will be given to the Purchaser on the date of registration of transfer of the Property into the name of the Purchaser, from which date all risk in and benefit of the property shall pass to the Purchaser and, from which date the Purchaser shall be liable for all expenses regarding the property (including sectional title levies and property tax and is entitled to any income earned with regards to the property (on a pro rata basis, if applicable).

8 TRANSFER

Registration of transfer shall be effected by the attorneys as soon as practicable and provided the Purchaser has complied with all his obligations.

9 COSTS

9.1 The Seller shall pay the costs of and incidental to the registration of transfer and disbursements necessary to effect registration together with the applicable value added tax thereon.

9.2 The Purchaser shall be liable to pay the costs of and incidental to the registration of any mortgage bond raised to finance any portion of the abovementioned purchase price.

9.3 Each party shall bear its/her own costs relating to attendances incidental to the preparation, negotiation, drafting and signing of this agreement.

10 MANAGING AGENT:

It is recorded that the Seller proposes to appoint SADC Infrastructure Consulting (Proprietary) Limited as managing agents, subject to confirmation at the first General Meeting of members of the Body Corporate.

11 EXCLUSIVE USE AREAS:

11.1 It is recorded that a Unit shall be entitled to the exclusive use of a parking area, as delineated on

“Annexure C” hereto, such exclusive use area to be created in terms of Section 27A of the Act.

11.2 The Purchaser shall, be entitled to the exclusive use and enjoyment of the exclusive use areas purchased as recorded in the schedule.

11.3 The Purchaser of exclusive use areas shall take all reasonable steps to keep such area in a clean, hygienic, neat and attractive condition and shall not use the area in such a manner or for such purpose as are likely to impair the safety, appearance or amenity of other unit/s or other parts of the common property. In the event of the Purchaser failing to so maintain the exclusive use areas the Body Corporate shall be entitled to remedy the Purchaser's failure and to recover the reasonable cost of doing so from him.

11.4 The Purchaser shall allow the Body Corporate access to and across the exclusive use areas for any purpose reasonably required for maintenance of the common property or the building.

12 COMPLIANCE CERTIFICATES

12.1 The Seller shall prior to registration of transfer have the property inspected by a qualified licensed plumber, with a view to issuing a Certificate of Compliance of Water Installation in respect of the property in accordance with the legal requirements laid down in the City of Cape Town: Water By-Law 2010, promulgated in the Western Cape Provincial Gazette No. 6847 on 18 February 2011. All costs arising from the inspection, repairing of any defects and the issuing of the said Certificate of Compliance by the accredited Plumber shall be borne by the seller.

12.2 In the event of there being a gas installation in the property, the Seller shall at his cost be obliged to obtain a Certificate of Conformity in respect of such an installation as is required by S17(3) of Government Notice R734 of 15 July 2009, Government Gazette 32395. The Seller and its agents shall have reasonable access to the property prior to the transfer date for the purposes of obtaining such certificate and for carrying out

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such repairs as may be necessary. Should any repairs be necessary, they will be for the cost of the Seller.'

12.3 The Seller shall, prior to registration of transfer furnish the Purchaser with a certificate of compliance as contemplated in the Regulations published in terms of the Occupational Health and Safety Act, 1993, in respect of any electrical installation in or on the property.

13 BEETLE FREE CERTIFICATE

13.1 The Seller shall prior to registration of transfer have all the accessible timbers, with exclusion of all detached structures such as, but not limited to Wendy houses and wooden fences, on the property inspected by a S A P C A registered inspector for infestation by Wood-destroying beetles and termites.

13.2 A copy of the report with recommendations, if any, shall be given to the Conveyancer.

13.3 Where infestation is found, the Seller is obliged to, at his own cost, ensure that the recommendations made, shall be carried out in full, in terms of Act 36 of 1947 and the SABS code.

13.4 Upon receipt of a Certificate of Clearance issued by the said Inspector that there is no infestation apparent on first inspection or that any infestation reported has been dealt with as aforesaid, the Purchaser shall have no further claim against the Seller.

13.5 All costs in attaining above certificate will be for the account of the Seller.

14 INSURANCE:

14.1 The unit shall (if possible) be insured by the Seller pending the first Annual General Meeting of the Body Corporate against any loss or damage by fire, lightning, storm, theft, hail or such other risks whatsoever as the Seller may in its discretion determine with an insurance company nominated by the Seller.

14.2 The premium payable in respect of any policy of insurance effected pursuant to Clause 14.1 above shall be included in the levies payable by the Purchaser to the Body Corporate.

14.3 The Purchaser shall be entitled to require the Seller to increase the amount for which the unit has been insured pursuant to the provisions of Clause 14.1 above provided that all or any additional premiums payable in respect of such increased insurance cover shall be borne and paid by the Purchaser.

14.4 The Purchaser shall not store or harbour or allow to be stored or harboured in or about the unit and/or exclusive use area and/or the land and/or the building any article, goods or material which may vitiate any fire or other insurance policy held by the Seller or increase the premiums payable in respect of such policy.

15 AGENTS COMMISSION

15.1 It is recorded that __________________________________________ introduced the parties to each other and is the effective cause of the conclusion of this agreement between the parties. The Seller shall pay in the amount of R___________________(_____________________________________________Rand) inclusive of VAT calculated on the percentage basis of 4.56%( FOUR comma FIVE SIX PER CENTUM) inclusive of VAT of the purchase price but excluding Attorney Bond and registration costs as agent's commission, as the Seller and the agent may agree; which commission shall be deemed to have been earned only if the Purchaser takes transfer of the Unit pursuant to his agreement, and shall be payable on date of registration of transfer of the Unit into the name of the Purchaser, provided that the agent has provided the seller with a tax invoice.

15.2 Should this agreement be cancelled, or transfer of the property not be effected into the name of the Purchaser due to a default on the part of the Purchaser to comply with his obligations in terms of this agreement, the Purchaser shall be liable towards the abovementioned Agent who introduced the Unit to the Purchaser for payment of the agent's commission, and in which event further such agent shall have no claims against the Seller. Should such agent have received his agent's commission already from the Seller, then the Seller shall be entitled to recover the amount paid in respect of agent's commission from such agent and in addition to, and without prejudice, to carry out its other rights in terms of this agreement or in law.

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16 RULES:

The Purchaser acknowledges that:

16.1 the Management Rules referred to in Section 35 of the act and the Conduct Rules contained in Annexure "D" hereto shall be applicable to the scheme.

16.2 the Body Corporate for the scheme shall be established upon the passing of the first transfer of a unit in the scheme, and shall as from that date be managed in terms of the Act and the said amended Rules. The Purchaser acknowledges that he has acquainted himself with the rules and acknowledges himself to be bound by the Rules.

16.3 the Purchaser shall from date of registration of transfer of the property into his name become a member of the Body Corporate.

16.4 Rights of exclusive use of certain parts of the common property are, in the said Rules, allocated to the owners of certain units, in particular parking bays will be established and allocated in terms of Section 27A) of the Act;

16.5 For the purposes of management and levy determinations, the body corporate will operate as will more fully appear from the said Rules; and

16.6 The estimated levies for the first year are set out in Annexure "E".

17 WARRANTIES, RESERVATIONS AND DISCLAIMERS: 17.1 Save as specifically set out in this Agreement the Seller has made no representations and gave no

warranties in respect of this subject matter of this Agreement or in respect of anything relating thereto.

17.2 Insofar as the Seller has received warranties from contractors/nominated sub-contractors/suppliers and a defect in the property manifests the Seller shall, upon request by the Body Corporate, cede its rights in such warranty to the Purchaser to the extent that the terms of such warranty do not preclude such cession.

17.3 All warranties and undertakings given by the Seller to the Purchaser in terms of this Agreement are personal to the Purchaser who cannot cede, assign or make-over his rights thereto.

18 VOETSTOOTS:

18.1 Subject only to the provisions hereunder set out, the Unit is sold voetstoots (as it stands) provided however that the Seller is bound and warrants the declarations made in the “Immovable Property Condition Report” attached hereto marked Annexure "F".

18.2 The Purchaser shall within 7 (seven) calendar days from the occupation date deliver to the Seller a final list of items reasonably requiring repair. The Seller shall attend to the repairs as soon as reasonably possible. Any dispute as to whether the said repairs have been satisfactorily carried out shall be referred to the Seller's Architects, acting as an expert and not as an arbitrator, whose decision thereon shall be final and binding on the parties. If the Purchaser does not deliver the list to the Seller within the aforesaid periods it shall be deemed that the property is in a fit and proper condition.

18.3 If any work of a minor nature is still required to be done to the property the Purchaser shall not be entitled to withhold, set off or retain any amounts owing by the Purchaser to the Seller nor shall the Purchaser be entitled to withhold or abate payment of any amount due to the Seller in terms of this Agreement by reason of any breach or alleged breach of the Seller's obligations hereunder.

19 INDEMNITY:

Notwithstanding anything to the contrary herein contained, the Seller shall not be responsible for any loss or damage which the Purchaser may suffer by any act or omission whatsoever or neglect on the part of the Seller its servants, employees or agents, nor shall the Seller be responsible for any loss or damage of any description whether to the property or person which the Purchaser or any other person may suffer by reason of the unit of

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the building at any time failing into a defective state or by reason of any repairs to the remainder of the development which are to be effected by the Seller or any other occupant thereof not being effected timeously or at all, and the Purchaser shall not be entitled for any of the said reasons or for any other reason whatsoever to withhold payment of the monies due to the Seller in terms hereof.

20 SOLE CONTRACTUAL RELATIONSHIP

20.1 The parties hereto acknowledge that this Agreement contains the entire agreement between them and that no other conditions, stipulations, warranties and/or representations whatsoever have been made by either party or their agents other than as set forth in this Agreement.

20.2 No variation of this Agreement shall affect the terms hereof unless such variation shall be reduced to writing under the hands of the parties hereto.

20.3 All provisions and the various clauses of this agreement are, notwithstanding the manner in which they have been grouped together or linked grammatically, severable from each other. Any provision or clause of this agreement which is or becomes unenforceable in any jurisdiction, whether due to voidness, invalidity, illegality, unlawfulness or for any other reason whatever, shall, in such jurisdiction only and only to the extent that it is so unenforceable, be treated as pro non scripto and the remaining provisions and clauses of this agreement shall remain of full force and effect. The Parties declare that it is their intention that this agreement would be executed without such unenforceable provision if they were aware of such unenforceability at the time of execution hereof.

21 INDULGENCES:

No extension of time or indulgence granted by the Seller to the Purchaser shall be deemed in any way to affect, prejudice or derogate from the rights of the Seller in any respect under this Agreement , nor shall it in any way be regarded as a waiver of any rights hereunder, or a novation of this agreement.

22 PHASE DEVELOPMENT : NOT APPLICABLE

23 DOMICILIUM/NOTICES:

23.1 For the purposes of this Agreement, the parties hereto choose domicilium citandi et executandi at the following addresses and fax numbers:

23.1.1 The Seller: c/o van der Westhuizen Vos & Horn, Unit 23 Oewerpark, Stellenbosch, fax number 021

8865793 (attention: Anton Vos);

23.1.2 The Purchaser:__________________________________________________________________

________________________________________________________________

23.2 Any notices, which are to be given by either party to the other party, shall be in writing and shall be deemed to have been delivered:

23.2.1 On the date of signed receipt of delivery if delivered by hand, or

23.2.2 On the day of transmission if successfully transmitted by telefax before 16h00 on that day and on the first day after the date of transmission where transmitted after 16h00.

23.3 Notwithstanding anything to the contrary herein contained, a written notice or communication actually received by a party shall be an adequate written notice or communication to him, notwithstanding that it was not delivered at his domicilium citandi.

24 JOINT PURCHASERS

Insofar as there may be more than one Purchaser in terms of this Agreement, the liability of each of such

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Purchasers shall be joint and several and in solidum.

25 CO-OPERATION

The Purchaser undertakes, upon demand to sign all documents and do all things necessary to fulfil the terms hereof. Such signature shall be effected at the offices of the Attorneys within five (5) days of such demand.

26 MAGISTRATE'S COURT JURISDICTION:

The parties hereby consent in terms of Section 45 of the Magistrate's Court Act 1944 to the jurisdiction of any Magistrate's Court having jurisdiction over their respective persons under Section 28 of the Magistrate's Court Act, notwithstanding that any action or proceeding arising out of this Agreement would otherwise be beyond the jurisdiction of such Court, provided that the Seller and the Purchaser shall have the right to institute proceedings in any other Court of competent jurisdiction.

27 DEFAULT

27.1 In the event of the Purchaser failing to comply with any of his obligations hereunder on due date and persisting in such failure for a period of 7(seven) calendar days after despatch of written notification calling upon the Purchaser to remedy the same, the Seller shall be entitled either:

27.1.1 to terminate this Agreement: or

27.1.2 to require the Purchaser to fulfil his obligations in terms of this Agreement.

27.2 Should the Seller terminate this Agreement, the Seller shall be entitled to obtain immediate repossession of the property and shall furthermore have the selection at the time of termination or at any time thereafter either to claim damages or to claim forfeiture of and retain all monies paid by the Purchaser to the Seller or the attorneys on account of the purchase price, costs or otherwise in terms of or pursuant to this Agreement.

27.3 Should the Seller require the Purchaser to fulfil his obligations, the Seller shall be entitled to claim such damages as the Seller may have suffered by reason of the Purchaser's default in addition to any other remedies that the Seller may have in terms of this Agreement.

27.4 The Seller shall in any event be entitled to retain all monies paid by the Purchaser on account of the purchase price, costs or otherwise in terms of or pursuant to this Agreement pending the Seller's election as aforesaid an in the event that the Seller elects to claim damages, the Seller may retain such monies pending determination of such damages and thereupon the Seller shall be entitled to set off the amount so retained against the Seller's claim for damages.

27.5 If the Purchaser disputes the Seller's right to cancel and/or remains in occupation of the property after cancellation or purported cancellation the Purchaser shall continue to pay interest and levies as herein provided in consideration for continuing to occupy the property.

27.6 In the event of the Seller failing to comply with any of his obligations hereunder on due date and persisting in such failure for a period of 7(seven) calendar days after despatch of written notification calling upon the Purchaser to remedy the same, the Purchaser shall be entitled either:

27.6.1 to terminate this agreement, with or without claiming damages,: or

27.6.2 to require the Seller to fulfil his obligations in terms of this agreement, with or without claiming damages,.

27.7 Should a party take steps against the defaulting party pursuant to a breach by the defaulting party of this agreement, such party shall, in addition to the right abovementioned, be entitled to recover from the defaulting party who shall be liable to the other party for payment of all the party's legal costs incurred on the scale between attorney and own client, including tracing fees and collection commission (if any) paid by the party to his attorney.

28 OFFER:

28.1 This Agreement, once signed by the Purchaser shall be regarded as an offer by the Purchaser and shall be irrevocable and open to acceptance by the Seller within a period of seven (7) days from date of signature by the Purchaser and shall not be capable of being withdrawn by him during the said period, and shall become

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a binding sale agreement immediately upon acceptance at any time prior to such date irrespective of notification of acceptance to the Purchaser.

28.2 Although notification of acceptance is not required upon acceptance of the offer by the Seller to constitute a binding sale agreement, the seller will use reasonable endeavours to procure that the Purchaser is advised of acceptance of the offer as soon as practically possible .

29 COMPANY/CLOSE CORPORATION/TRUST - FORMED

In the event of the Purchaser being a Company or a Close Corporation or the Trustees for the time being of a Trust, the signatory for the Purchaser by his signature hereto binds himself to the Seller as surety and co-principal debtor in solidum for the Purchaser under renunciation of the benefits of excursion and division for the performance by the Purchaser of all the Purchaser's obligations in terms of this Agreement.

30 MORTGAGE BOND [DELETE IF NOT APPLICABLE]

30.1 This agreement is subject to the Purchaser being offered bond finance within 21 (twenty one) calendar days of acceptance hereof for an amount of not less than R ( Rand). Notwithstanding anything to the contrary herein contained, if the required loan has not been obtained within the said time period the Seller shall be entitled in its own discretion to grant an extension of such time period by a further 15 (fifteen) days. It is agreed that should the Purchaser fail to obtain the required bond approval with the abovementioned period or any extended period, then this Agreement shall become null and void and in which event the Seller shall repay the Purchaser’s deposit and all accrued interest thereon forthwith.

30.2 It is further agreed that if the Purchaser is not able to obtain the required loan by the date stipulated above, then in that event the Purchaser nominates and appoints the Seller or the Seller's agent as his agent to apply on his behalf for such bond finance and the Purchaser undertakes to sign any documents which may be required for such application, immediately after being requested by the Seller or the Seller's agent to do so.

30.3 Whilst the Seller will do everything reasonably possible to assist the Purchaser to obtain mortgage finance, it shall at all times remain the Purchasers obligation to obtain the required bond, and any act or omission on the part of the Seller in this respect will not render the Seller liable to the Purchaser in any manner whatsoever, or for any actual or contingent loss which the Purchaser under those circumstances may sustain nor will there be any obligation on the Seller to grant mortgage finance to the Purchaser.

31 SUPPORT

The Parties undertake: at all times to do all such things, perform all such actions and take all such steps and to procure the doing of all such things, the performance of all such actions and the taking of all such steps as may be open to them and necessary for or incidental to the putting into effect or maintenance of the terms, conditions and/or import of this Agreement.

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DONE AND SIGNED at ______________________________________________________

on this ________________ day of __________________________ 20_____.

AS WITNESSES:

1_____________________________ _____________________________

SELLER

2_____________________________

DONE AND SIGNED at____________________________________________________

AS WITNESSES:

on this ________________ day of __________________________ 20_____.

1______________________________ _____________________________

PURCHASER

2_______________________________

________________________________________________________________________________________________

DONE AND SIGNED at____________________________________________________

on this day of 20_____.

AS WITNESSES:

1______________________________ _____________________________

OTHER PARTY/Purchaser’s Spouse where marriage 2_______________________________ governed by Laws of a Foreign Country or where married in community of property

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ACCEPTANCE OF BENEFITS The Estate Agency __________________________________________________

Hereby accepts all benefits conferred upon it in terms of this agreement

_________________________ _________________________

Agent’s Name Signature

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ANNEXURE "B" SECTIONAL TITLE PLANS

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16

17

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ANNEXURE "C" EXCLUSIVE USE AREAS

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ANNEXURE "D"

Conduct Rules 10 May 2012 1. ANIMALS, REPTILES AND BIRDS

(1) An owner or occupier of a unit shall not, without the consent in writing of the Trustees, which approval may not be unreasonably withheld, keep any animal, reptile or bird in a unit or on the common property.

(2) When granting such approval, the Trustees may prescribe any reasonable condition. (3) The Trustees may withdraw such approval in the event of any breach of any condition prescribed in

terms of sub rule (2). 2. REFUSE REMOVAL

An owner or occupier of a unit shall – (1) maintain in an hygienic and dry condition, a receptacle for refuse within his unit, his exclusive use area

or on such part of the common property as may be authorized by the Directors in writing; (2) ensure that before refuse is placed in such receptacle it is securely wrapped, or in the case of tins or

other containers, completely drained; (3) for the purpose of having the refuse collected, place such receptacle within the area and at the times

designated by the Trustees; (4) When the refuse has been collected, promptly return such receptacle to his unit or other area referred

to in paragraph 2. (1). 3. VEHICLES

(1) No owner or occupier shall park or stand any vehicle upon the common property, or permit or allow any vehicle to be parked or stood upon the common property, without the consent of the Trustees in writing.

(2) The Trustees may cause vehicles to be removed or towed away, at the risk and expense of the owner of the vehicle, any vehicle parked, and standing or abandoned on the common property without the Trustees’ consent.

(3) Owner or occupiers of unit shall ensure that their vehicles, and the vehicles of their visitors and guests, do not drip oil or brake fluid on to the common property or in any other way deface the common property.

(4) No owner or occupier shall be permitted to dismantle or affect major repairs to any vehicle on any portion of the common property, an exclusive use area or in a unit.

(5) No owner of any vehicle shall cause any damage to common property. Should such damages occur, the owner of that vehicle shall be held responsible for any loss or costs incurred.

4. DAMAGE, ALTERATIONS OR ADDITIONS TO THE COMMON PROPERTY

(1) An owner or occupier of a unit shall not mark, paint, drive nails or screws or the like into, or otherwise damage, or alter any part of a unit and, or the common property without first obtaining the written consent of the Trustees.

(2) Notwithstanding sub-rule 4.(1), an owner or person authorized by him, may install (a) any locking device, safety gate, burglar bars or other safety device for the protection of his unit;

or (b) any screen or other device to prevent the entry of animals or insects:

provided that the Trustees have first approved, in writing, the nature and design of the device and the manner of its installation. 3. Any occupant will be held responsible for any damages to their unit and will be liable for any repairs and related costs. 4. All tenants shall be personally responsible for the actions of their guests. Should actions result in damages, the tenant shall be held responsible for any repairs or loss.

5. APPEARANCE FROM THE OUTSIDE The owner, occupant or their guests of a unit shall not place or do anything on any part of the common

property, including balconies, patios, stoeps, and gardens which, in the discretion of the Trustees, is

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aesthetically displeasing or undesirable when viewed from outside of the unit. The owner and or occupant shall be held responsible for such actions including that of their guests.

6. SIGNS AND NOTICES

No owner or occupier of a unit, used for residential purposes, shall place any sign, notice, billboard or advertisement, which includes ‘For Sale’ signs, of any kind whatsoever on any part of the common property or of a unit, so as to be visible from outside the unit, without the written consent of the Trustees first having being obtained.

7. LITTERING

An owner or occupier of a unit shall not deposit, throw, or permit or allow be depositing or throwing, on the common property any rubbish, including dirt, cigarette butts, food scraps or any other litter whatsoever. Tenants shall clean up any used areas after using any of the communal areas including the kitchen or any outside communal areas.

8. LAUNDRY AND CLEANING

Provision has been made in the monthly levy for a regular cleaning of the common property. A minimal additional Levy/rent tariff rate will be charged for a weekly cleaning and laundry service during normal office hours Monday to Friday, excluding Public Holidays and University Holidays. Should, additional laundry services be required by a Tenant, such service may be rendered, based on the availability of staff, on Saturdays between the hours of 08h00- 12h00,which service will be an additional expense of the Tenant. An owner or occupier of a unit shall not, without the consent in writing of the Trustees, erect his own washing lines, nor hang any washing or laundry or any other items on any part of the building or the common property so as to be visible from outside the buildings or from any other unit.

9. STORAGE OF INFLAMATORY MATERIAL AND OTHER DANGEROUS ACTS

An owner or occupier shall not store any material, or do or permit or allow to be done, any other dangerous act in the building or on the common property which will or may increase the rate of the premium payable by Banghoek 2367 on any insurance policy.

Open flame braai are not permitted on patios or balconies

10. LETTING OF UNITS 10.1 All occupiers of units and other persons granted rights of occupancy by any owner or the relevant unit

are obliged to comply with these conduct rules, notwithstanding any provision to the contrary contained in any lease or any grant of rights of occupancy.

10.2 The owner of the units shall at all times be responsible for ensuring that no unit is occupied by more than ONE person (with exceptions), and

10.2.1 in the case of units where the section measures 32 square meters or greater made for TWO

occupants to occupy the unit, 10.2.2 Application where the occupants/tenants are siblings would be beneficial, 10.2.3 occupants/tenants have been advised that only ONE parking bay is allocated per unit, 10.2.4 The Trustees reserve the right to review the monthly levy payable by the owner of the unit.

10.3 Block Bookings and Holiday Letting involving a large group of occupiers may create problems in that the

group arrives in a “party” mood and generally disregards the rules of the Banghoek 2367and thereby causes a nuisance to other residents. Common property is often damaged and the in order to avoid such situations,

10.3.1 No block bookings will be allowed without the prior approval of the Trustees which

approval will not be unreasonably withheld. A prescribed form will need to be submitted to the Trustees for their consideration. No buses will be allowed to park on the common property.

10.3.2 In all cases where an owner wishes to make his unit available for Holiday Letting (periods of less than 90 days), he shall deposit a refundable amount (to be determined by the Trustees from time to time) into the banking account of the Banghoek 2367 which amount shall be held in trust pending any damages that may occur to Banghoek 2367

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In those cases where it becomes known to the Trustees that an owner is using his unit for Holiday Letting purposes without having paid the deposit, the Trustees shall instruct the managing agent to debit the levy account of the owner with an amount of R5 000.00. This amount may be recovered by the Banghoek 2367 by action in any Court (including any magistrate’s court) of competent jurisdiction from the persons who were the owner of the unit at the time when such deposit became due.

The owner shall be obliged to make his tenant/occupier aware of the rules of the Banghoek 2367 by providing them with a copy of the rules and further obtaining their written undertaking to abide by the rules of the Banghoek 2367 A copy of such written undertaking is to be lodged with the Trustees /managing agent by the tenant/occupier in order to obtain access to the complex for the period of their stay. In the event of the occupants of the unit breaching the rules of the Banghoek 2367 or causing any damage to the common property or any other unit, Banghoek 2367 shall be entitled to withdraw funds from the deposit in order to cover any fines imposed on the owner as well as for any damages caused by the occupants of the unit. In such instances, the levy account of the owner shall be debited with the amount withdrawn in order to replenish the deposit required. The owners of the Banghoek 2367 shall review the amount of the deposit to be imposed at each annual general meeting.

11. ERADICATION OF PESTS An owner shall keep his unit free of white ants, borer and other wood destroying insects and to this end shall

permit the Trustees, the managing agent, and their duly authorised agents or employees, to enter upon his unit from time to time for the purpose of inspecting the unit and taking such action as may be reasonably necessary to eradicate any such pests. The costs of the inspection, eradicating any such pests as may be found within the unit, replacement of any woodwork or other material forming part of such section which may be damaged by any such pests shall be borne by the owner of the unit concerned.

12. NOISE The owner of a unit in Banghoek 2367 shall at all times conduct himself in such a manner, or see to it that the

occupiers of his unit conduct themselves in such a manner, so as not to create any nuisance or the owner or occupier of any other unit in Banghoek 2367 and no noise, including, but not limited to loud music, TV, functions at the braai area, loud discussions in the passages and/ or rooms, shall in any event be made by the owner or any occupant of his unit between the hours of 22:00 and 08:00 which could be a nuisance to the owner or occupier of any other unit in the building. During first and second examination periods of the University of Stellenbosch these times are lengthened to 20h00 until 08h00.

13 SMOKING and ALCOHOL FREE ENVIRONMENT

13.1 Under current legislation it is illegal to smoke in common areas and this also applies to Banghoek 2367. If an occupier/guest is smoking, this will take place outside of the building as not to interfere with other occupiers. It is also the smoker’s responsibility to ensure that cigarette butts are not disposed randomly but in discarded in the rubbish bins.

13.2 The consumption of Alcohol is discouraged within Banghoek 2367 and shall be monitored and is subject to Clause 15 ‘Enforcement of Conduct Rules’ To this end consumption of Alcohol is limited to the confines of the outside communal area, which shall be kept clean at all times.

13.3 No illegal substances are allowed on the property. Any transgression will be reported to the relevant authorities.

14 SECURITY

14.1 An owner and resident of a unit shall at all times endeavor to enhance the security of all the owner and residents of Banghoek 2367

14.2 Owner and residents will be responsible to ensure that:

14.2.1 Vehicle gates are completely closed before driving off. 14.2.2 Doors to the Common Area are completely closed and locked before leaving the facility. 14.2.3 Report lost keys/ remotes to Banghoek 2367 and pay for any costs related to the replacement of

such keys/remotes.

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14.2.4 Any contractors (example: private deliveries and cleaning staff) employed by the owner/resident shall not compromise the general safety of Banghoek 2367 or any other owner /resident.

14.2.5 No access to any unit is allowed without the consent of the tenant of such a unit. 15. ENFORCEMENT OF THE RULES OF Banghoek 2367

In the event of a contravention of any of the requirements of the Sectional Title Act, the Management rules of Banghoek 2367 or the Conduct rules of Banghoek 2367othe following action shall be taken against the registered owner/shareholder of the unit: 15.1 In the case of a further breach of the rules within a 60 day period, or, in the case of a blatant

disregard of the rules which, in the opinion of the Trustees, is a serious contravention a Final Warning notice shall be delivered or sent to the registered owner by hand, email or registered post giving full details of the alleged contravention in clear and unambiguous terms. In addition, the owner shall be advised that a fine has been imposed and debited to his levy account.

15.2 The Trustees shall investigate such complaint and should they find it to be valid, they shall:

15.2.1 In respect of a first complaint of any nature, prepare a first warning notice which shall be delivered or sent to the registered owner by hand, email or registered post giving full details of the alleged contravention in clear and unambiguous terms.

15.2.2 In respect of a second complaint of any nature, be entitled to impose a fine of R500, 00 against the owner of the unit housing the transgressor. The transgressor may appeal in writing against a fine so imposed, but the finding of the Trustees in this regard, after due consideration of such appeal, shall be final and binding;

15.2.3 In respect of a third complaint of any nature, be entitled, to impose a fine of R1 000, 00 (in the entire discretion of the Trustees) against the owner of the unit housing the transgressor;

15.2.4 in respect of a fourth complaint of any nature, be entitled, to impose a fine of R2 500, 00 and request the owner/tenant, as duly authorized representative of the owner of the unit, to terminate the lease of the transgressor and to take all such legal steps as may appear requisite in order summarily to terminate the continued occupation of the unit by the transgressor.

15.3 Should the transgressor referred to in 15.2.1 to 15.2.3 above, not commit a further offence for a

period of 6 (six) continuous calendar months, then all previously recorded transgressions shall lapse and not be taken in account during the hearing of future or further complaints against such a transgressor.

On imposing a fine, the owner or his agent shall be entitled to request a meeting or hearing within seven (7) days of the event. The purpose of the meeting is to enable the owner to respond to the allegation and evidence against him. The owner shall be given the right to cross-examine any witnesses. The Trustees shall then decide if the owner is guilty of the contravention or not. If found guilty the Trustees will uphold, amend or waive the fine should circumstances warrant such consideration. The owner shall be informed of their decision and reasons therefore, as well as the final amount of the fine. The Owners of Banghoek 2367 shall review the scale of the fines to be imposed at each annual general meeting. An owner will be liable for all legal costs, other expenses, incurred by Banghoek 2367 in enforcing the Conduct Rules of the complex or the provisions of the Sectional Title Act and shall be allowed to call his own witnesses.

16. REASONABLE ACCESS to Units by Trustees An Owner and/or occupiers of a unit must allow any person who is authorized in writing by the Trustees and

/or the managing Agent under supervision to enter his or her unit or exclusive use area to inspect or repair water pipes, electric cables or ducts which affect any other unit or the common property; or to make sure that the unit is not being used in contravention of the requirements of the Act or Rules.

Except in an emergency, notice must be given, and access must be at a reasonable hour. SPECIFIC DUTIES AND OBLIGATIONS OF OWNERSHIP

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NB: These extracts from the Act and Rules are intended as a guide to owners or prospective owners and should not

be considered as either comprehensive or authoritative. The Sectional Title Act, Management Rules, Conduct Rules, House Rules and Articles of Association (as applicable) are not intended to impose onerous and restrictive conditions on owners and it should not be necessary to do so.

Most residents respect the wishes and privacy of others, keep their units and exclusive areas in good condition and generally act in a considerate manner. It is for the less neighbourly minority that the Act imposes specific duties and obligations and prescribes actions, which may be taken against offenders.

What follows is a summary of these rules

• No smoking and consumption of alcohol within the building, only in designated areas • Keep the unit in a good state of repair. If an owner fails to do so, Banghoek 2367 may carry out the

repairs or maintenance and recover the costs from the owner. • Must keep exclusive use areas neat and tidy. • Notify the Officer responsible for Banghoek 2367 statutory compliance of change of ownership of

unit. • Use his or her unit or the common property in such a way as not to interfere with the rights of any

other resident. • Not use a unit for any purpose for which it is not intended, except with the written consent of all the

Owners • Not use a unit, exclusive use area or any part of the common property in such a way as to injure the

reputation of Banghoek 2367. • Not contravene any law, by-law or Regulation regarding the building on common property. • Not make any changes, which might affect the safety or stability of the building. • Not do anything, which will prejudice the harmonious appearance of the building. • Not construct or place any structure on the exterior of the building or build anything on an exclusive

use area without written consent from the Trustees Directors. • Not keep any animal or bird in a section or on the common property without the written consent of

the Trustees. • Not park a vehicle illegally on any part of the common property, or carry-out major repairs to a

vehicle on the common property. • Not erect wash lines or hang washing in such a way as to be visible from outside the building or from

another unit. • Not store any material or do anything, which may increase the rate of the premium payable by

Banghoek 2367 of any insurance policy. • Not use the common property, his unit or exclusive use area in such a manner as to cause a nuisance

to any occupier of a unit or to unreasonably interfere with the use and enjoyment of the common property by other owners or persons lawfully on the premises

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ANNEXURE "E" PROPOSED LEVY BUDGET FOR FIRST YEAR

Banghoek 2367 , Stellenbosch BUDGET 1 Dec 2012 / 30 Nov 2013

BUDGET Monthly Owner Proposed

2013 Body levy Tenant

Corporate Recovery

Levy Based on

Month

Average USAGE * EXPENDITURE: per unit

Administration

- External 0.00 0.00 0.00

- Internal plus garden 27 360.00 175.38 0.00

- Post and petties 1 500.00 9.62 0.00 Accounting 19 380.00 124.23 0.00 Audit Fees 4 560.00 29.23 0.00 Rates and taxes 12 000.00 76.92 0.00 ADSL Internet (incl Telkom line) 18 000.00 115.38 114.00 Telkom usage 1 800.00 11.54 0.00 Bank charges and interest 3 000.00 19.23 0.00

Electricity, water, refuse removal and sewerage 30 000.00 192.31 prepaid meters **

Insurance 14 000.00 89.74 0.00 Repairs and maintenance

- Building 0.00 0.00

Security 12 000.00 76.92 0.00 Cleaning services 35 750.00 229.17 285.00 Consumables for cleaners/laundry 7 500.00 48.08 0.00 TOTAL 186 850.00 1 197.76 798.76 399.00

BUDGET

2013 INCOME: Levies

- Corporate levies 124 606.00 798.76 Basic Owner Levy

- Tenant levies 62 244.00 399.00 Tenant Consumer LEVY

- Additional levies 33 516.00

***

Sundry Income

- Supervisor

****

TOTAL INCOME (INCL) 220 366.00

SURPLUS TO CAPITAL FUND 33 516.00

In terms of the provisions of section 12(f), the supply of any services to any of its members in the course of the management of a body corporate, as defined in section 1 of the Sectional Titles Act, 1986, will be exempt from

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VAT, as such this Body Corporate will not be registered for VAT and the expenses include VAT where applicable. No VAT will levied on the members monthly levies.

* To be recouped from tenant and paid over as part of Body Corporate Levy ** Estimate, verified quarterly and amended if required

*** Assumed 7 double up students - IF less OWNER to proportionately be levied balancing figure **** Rent to be paid by supervisor

Banghoek 2367, Stellenbosch

SCHEDULE ON REPAYMENTS

Section Based on

total Participation 2012 2012 2012 2012 2012

No Quota Annual Monthly Monthly Additional Total Unit area Corporate Corporate Tenant Monthly Monthly

Levy Levy Recovery Tenant Corporate Recovery Levy

excl. amount

recovered from

Tenants and paid across

to Body Corporate

2 Tenants per room

pay double for all or a

portion depending

on what they use

incl amount recovered

from Tenants and paid across

to Body Corporate

for 2 tenants

1 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67 2 28 7.0000% 8 722.42 726.87 399.00 0.00 1 125.87 3 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67 4 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67 5 28 7.0000% 8 722.42 726.87 399.00 0.00 1 125.87 6 28 7.0000% 8 722.42 726.87 399.00 0.00 1 125.87 7 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67 8 29 7.2500% 9 033.94 752.83 399.00 0.00 1 151.83 9 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67

10 34 8.5000% 10 591.51 882.63 399.00 399.00 1 680.63 11 27 6.7500% 8 410.91 700.91 399.00 0.00 1 099.91 12 28 7.0000% 8 722.42 726.87 399.00 0.00 1 125.87 13 33 8.2500% 10 280.00 856.67 399.00 399.00 1 654.67

400 100.0000% 124 606.00 10 383.87 5 187.00 2 793.00 18 363.87

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ANNEXURE "F" IMMOVABLE PROPERTY CONDITION REPORT

The Seller is not aware of any defects.

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ANNEXURE "G" COPY of PRE-EXISTING LEASE