Contract For Sale Of Residential Lots In A Community Titles Scheme - AUQLDREPS004

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BLACK = Old Item/Clause  | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted

 

11 Sep 2018 v12.6

Additions / Changes:

 

All references to 'Department of Natural Resources and Energy' changed to 'Department of Natural Resources, Mines and Energy'.

 

Item 29 Note

(*) Witness Signature is not required where a party signs electronically (refer Clause 38.9)

IMPORTANT NOTE:

All Parties should sign annexures, initial any alterations to the Contract and, except where the Contract is signed electronically, initial at the bottom of each page of the Contract (Failure to do so does not invalidate this Contract)

 

Clause 38.1

The parties agree and confirm any documents and communications in relation to this Contract may be forwarded electronically and where this Contract document has been forwarded electronically (either for signing or otherwise) the party receiving the Contract document confirms having consented to the delivery of the Contract document (and any other materials) by way of the electronic means of delivery before receiving the documentation.

 

Clause 38.8

The parties agree and consent to execution, delivery and service by any party, of documents electronically using by a method provided by an DocuSign or such other agreed electronic signing signature service provider.

 

Clause 38.9

Where a party signs this Contract electronically that party’s signature is not required to be witnessed.

 

01 Jul 2018 v12.5

Item 2

Name: ………………………………………………………………………………………………………………….….

Address: …………………………………………………………………………………………………………………..

ABN: ………………… Phone: (…)….….…….……… Fax: (…)….….…….……… Mobile: .….….….….……….

Email: …………………………………………………………………………………………………………………..…

Licence Number: …………………………………………………………………… Expiry Date: …… / …… / ……

Item 3

Name: ..…………………………………………………………………………………… DOB: …… / …… / ……  

Address:…………………………………………………………………………………………………………………..

ABN/ACN:………………  Phone: (…)….……….……… Fax: (…)….….…………… Mobile: .…………………  

Email: …………………………………………………………………………………………………………………..

Solicitor/Self Acting ………………………………………………….……………………………………………….

Address: …………………………………………………………………………………………………………………..

Phone: (…)….….…….……………… Fax: (…)….….…….………   Mobile: .……………………………………

Email:  ………………………….……………………………………. Contact: ………...……………………………

Item 4

Name: …………………………………………………………………………………………………………………..

Address: ………………………………………………………………………………………………………………..

ABN: ………………… Phone: (…)….….…….……… Fax: (…)….….…….……… Mobile: .….….….………….

Email: ……………………………………………………………………………………………………………………..

Item 5

Name: ……………………………………………………………………………………………………………………..

Address: …………………………………………………………………………………………………………………..

ABN/ACN:…………………  Phone: (…)….….….……… Fax: (…)….….…….…… Mobile: .…………………  

Email: …………………………………………………………………………………………………………………....

Solicitor/Self Acting …………………………………………………..……………………………………………...

Address: ………………………………………………………………………………………………………………..

Phone: (…)….….…….……………… Fax: (…)….….…….……………… Mobile: .………………………………

Email: ………………………….……………………………………. Contact: ………………………………………

Item 18.3

Managing Agent: ………………………………………………………………………………………………………..

Phone: (…)………………………. Fax: (…)………………………. Email: ………………………………………...

Item 27

GST WITHHOLDING

27.1

The Property is: (tick one of the following)

__ Existing Residential Premises  __ New Residential Premises   __ Potential Residential Land

27.2

(The Buyer is to complete this Item 27.2 where the purchase is of Potential Residential Land.)

The Buyer is registered for GST and acquiring the Property for a ‘creditable purpose’ (as defined in the GST Act): __ Yes __ No

Note: where the answer is ‘yes’ and the acquisition is for Potential Residential Land Item 27.3(2) is not required to be completed.

27.3

GST Withholding Notice (to be completed by Seller - section 14-255 Taxation Administration Act 1953 (Cth))

 

(1)

The Buyer <is/is not> required to make a payment to the Australian Taxation Office in compliance with section 14-250 of the Taxation Administration Act 1953 (Cth) in relation to the Property.

 

(2)

Only complete the following details where payment is required:

 

 

(a)

Seller’s Name: ………………………………           ABN:………………………………..

 

 

(b)

Payment amount: $…………………………………

 

 

(c)

When payable: ……/……/……

Note: Where no date is inserted payment will be on the Settlement Date.

 

 

(d)

Where the Purchase Price is not expressed as an amount of money insert the GST inclusive market value of the Property: $…………

 

Important Note to Buyer: Failure by the Seller to complete this Item does not affect the Buyer’s obligation to make a payment under section 14‑250 (Clause 7).

Clause 7

GST Withholding

7.1

Where the Property the subject of this Contract is, within the meaning of the GST Act a ‘new residential premises’ or ‘potential residential land’ the Seller must give to the Buyer a GST Withholding Notice (Item 27.3) in accordance with section 14-255 of the Taxation Administration Act 1953 (Cth).

7.2

Where an amount is required to be paid to the Australian Taxation Office (ATO) in accordance with the GST Withholding Notice (Item 27.3) the Buyer is authorised to withhold from the Balance Purchase Price and remit to the ATO the amount as required in Item 27.3(2) in accordance with section 14-250 of the Taxation Administration Act 1953 (Cth).

7.3

Where the GST Withholding Notice (Item 27.3) is not completed by the Seller, the Buyer is authorised to withhold from the Balance Purchase Price and remit to the ATO, in compliance with the GST Act, an amount calculated in accordance with section 14-250(6) of the Taxation Administration Act 1953 (Cth).

7.4

Where the Buyer is required to make a payment in accordance with section 14-250 (Taxation Administration Act 1953 (Cth)) the Buyer must lodge with the ATO the following forms:

 

(1)

not less than 14 days prior to Settlement, a GST Property Settlement Withholding Notification; and

 

(2)

at or before Settlement, a GST Property Settlement Date Confirmation.

7.5

Prior to Settlement the Buyer must provide to the Seller a copy of:

 

(1)

the response received from the ATO following lodgement of the GST Property Settlement Withholding Notification showing the lodgement and payment reference numbers; and

 

(2)

the GST Property Settlement Date Confirmation form lodged with the ATO.

Clause 12.1(10)

Each party must do everything reasonably necessary and in a reasonable timeframe to ensure:

(a)

Settlement (including Financial Settlement) occurs electronically on the Settlement Date; or

(b)

where, the parties haveing complied with the provisions of Clauses 12.1 and 12.3(7), and Settlement cannot occur by e-conveyance and neither party is in default, and Settlement including Financial Settlement will be completed:

 

(i)

by e-conveyance on the next Business Day after the Settlement Date; or if the parties agree,

 

(ii)

if the parties agree, in accordance with Clause 12.2, in which case Settlement must be within 3 Business Days of the Settlement Date,

 

and in either case, time remains of the essence.

 

26 May 2018 v12.4

Additions / Changes:

 

Clause 11.1(10)

Each party must do everything reasonably necessary and in a reasonable timeframe to ensure:

(a)

Settlement (including Financial Settlement) occurs electronically on the Settlement Date; or

(b)

where, the parties haveing complied with the provisions of Clauses 11.1 and 11.3(6), and Settlement cannot occur by e-conveyance and neither party is in default, and Settlement including Financial Settlement will be completed:

 

(i)

by e-conveyance on the next Business Day after the Settlement Date; or if the parties agree,

 

(ii)

if the parties agree, in accordance with Clause 11.2, in which case Settlement must be within 3 Business Days of the Settlement Date,

 

and in either case, time remains of the essence.

 

07 May 2018 v12.3

Additions / Changes:

 

Title

CONTRACT FOR SALE OF RESIDENTIAL LOTS

IN A COMMUNITY TITLES SCHEME

(WARNING: This Contract is not, without amendment, suitable for use in respect of off the plan sales)

(Note: Where there is insufficient space in any Item place details in an Annexure and refer to the Annexure in the Item - e.g. ‘Refer Additional Expenses Annexure’)

 

Item 3 Header

SELLER   Note: If insufficient space to list Names and Addresses attach an annexure.

 

Item 5 Header

BUYER   Note: If insufficient space to list Names and Addresses attach an annexure.

 

Item 20 Header

WORK ORDERS / NOTICES / APPLICATIONS   (if insufficient space, attach an annexure)

 

Item 27 Header

SPECIAL CONDITIONS   (If insufficient space attach an annexure)

 

Item 28 Note

IMPORTANT NOTE:

(1) All Parties should MUST sign annexures, and initial any alterations to the Contract and initial at the bottom of each page of the Contract (Failure to do so does not invalidate this Contract)

(2) All Parties should initial at the bottom of each page of the Contract (Failure to do so does not invalidate this Contract)

 

Clause 1(12)

Buyer: The Buyer named in Item 5, including any additional Buyers listed in an attached annexure

 

Clause 1(45)

Related Document: means any written communication (including Notices), with regard to this matter, between the parties, including any Electronic Documents.

 

Clause 1(47)

Seller: The Seller named in Item 3, including any additional Sellers listed in an attached annexure.

 

Clause 24

The Buyer may inspect the Property and in so doing cause a survey to be made of the Lot and fixed and permanent structures thereon and should there be an error or misdescription with respect to the dimensions of the Lot or an encroachment onto or from the Lot the Buyer:

(1)

may in the case of an error, misdescription or encroachment, any one of which is of a material nature, elect (in writing to the Seller) to complete this Contract or terminate before Settlement; or

(2)

must in the case of an error, misdescription, or encroachment, any one of which is of an immaterial nature, disclosed by survey or otherwise, the Buyer must complete the purchase in accordance with the terms of this Contract.

Should the Contract be terminated in accordance with Clause 24(1), all monies by way of Deposit shall be refunded to the Buyer.

 

Clause 25

In the case of a material or immaterial error or misdescription of the Property, including the Seller’s title thereto, the Buyer:

(1)

may in the case of an error or misdescription, either of which are material, elect (in writing to the Seller) to complete this Contract or terminate before Settlement.

(2)

must in the case of an error or misdescription, either of which are immaterial, the Buyer must complete the purchase in accordance with the terms of the Contract

Should the Contract be terminated in accordance with Clause 25(1), all monies by way of Deposit shall be refunded to the Buyer.

 

Clause 37

Related Documents / Notices / Electronic Communication

37.1

The parties agree and confirm any documents and communications in relation to this Contract may be forwarded electronically in accordance with this clause and where this document has been forwarded electronically (either for signing or otherwise) the party receiving the document confirms having consented to the delivery of the document (and any other materials) by way of the electronic means of delivery before receiving the documentation.

37.2

Any Related Document, including this Contract, to be served on any party under this Contract shall be in writing and may be served on that party:[REIQ Clause 10.4(1)]


(1)

by delivering it to the party personally; or


(2)

by leaving it for the party at that party’s address as stated in this Contract the Item Schedule; or


(3)

by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in this Contract the Item Schedule; or


(4)

by as an electronic communication via facsimile transmission, email or SMS text message to the party at the appropriate electronic address as stated in this Contract the Item Schedule; or


(5)

by delivery to the other party’s solicitor’s office; or


(6)

by delivery of an Electronically Signed document to an Electronic Workspace opened in accordance with Clause 11.1; or


(7)

by delivery to an alternative address, provided in writing by the party, by any of the methods outlined in Clauses 37.2(1) to (5) above.

37.3

A Related document posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the Related document would be delivered.

37.4

A Related document sent by electronic communication will be deemed to have been received in accordance with Section 24 of the Electronic Transactions (Queensland) Act 2001.

37.5

Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.

37.6

Related Documents must be served before 5pm on a Business Day, failing which, such Related document will be deemed to have been served on the next Business Day.

37.7

The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.

37.8

The parties agree to execution, delivery and service of Related documents electronically by a method provided by DocuSign or such other agreed electronic signature service provider.

 

12 Oct 2017 v12.2

Additions / Changes:

 

Clause 19

On the giving of reasonable notice to the Seller, the Buyer, and/or designated representative, may, at reasonable times, prior to Settlement, inspect the Property for the purposes of:

(1)

Inspections in accordance with Clause 4

(2)

valuation, if required (under Clause 5 or otherwise)

(3)

reading of the water meter

(4)

one pre-settlement inspection in addition to Clauses 19(1) & 19(2).

(5)

survey in accordance with Clause 24

 

03 Jul 2017 v12.1

Additions / Changes:

 

Clause 22

Should there be outstanding Notices at the Date of Contract under:

(a)

sections 166 588 (show cause notice) or 167 590 (enforcement notice) of the Sustainable Planning Act 2016 2009; or

(b)

sections 246AG (show cause notice – cancellation), 247 (show cause notice) or 248 (enforcement notice) of the Building Act 1975.

The Buyer may terminate the Contract by written notice to the Seller.

 

01 Jul 2017 v12.0

Additions / Changes:

 

Clause 1(30)

Land Tax Clearance Certificate: A certificate issued by the Commissioner of Land Tax Office of State Revenue that describes the land charged, and showing whether or not any land tax remains unpaid on the land described in the application and where land tax remains unpaid, the amount thereof. (section 60(5)(a),(b) of the Land Tax Act 2010)

 

Clause 7.8(1)

Should the Commissioner of Land Tax Office of State Revenue not have issued a Land Tax Clearance Certificate to the Buyer by the Adjustment Date, then in such case the parties agree the Buyer will retain in his Solicitor’s Trust Account such sum, from the settlement monies, as the Commissioner of Land Tax Office of State Revenue specifies in writing would be prudent to cover any land tax liability outstanding for the period up to and including 30th June immediately preceding the Adjustment Date.  

Upon a Land Tax Clearance Certificate issuing, the Buyer undertakes and agrees to direct the Solicitor to pay from the funds held in the Trust Account so much of those funds as may be necessary to obtain for the Buyer a Land Tax Clearance Certificate.  Any balance funds remaining shall be paid to the Seller.

This obligation is a continuing obligation and does not lapse at Settlement.

 

Clause 42.1

The parties acknowledge (subject to Clause 42.2) where the Purchase Price (plus applicable GST less any input tax credit) of the Property is two million seven hundred and fifty thousand dollars ($2,000,000 $750,000) or more, the Buyer will on or before Settlement, in compliance with the foreign resident capital gains withholding payments provisions of Schedule 1 of the Taxation Administration Act 1953 (Cth) (Schedule 1) be required to:

(1)

withhold from the purchase monies a sum equal to 10 12.5% of the Purchase Price or such lesser sum as determined in a notice of variation provided in accordance with section 14-235 of Schedule 1; and

(2)

pay the withheld monies to the Australian Taxation Office (ATO) in accordance with Schedule 1 and, in addition,

(3)

promptly provide evidence of payment made in accordance with Clause 42.1(2) to the Seller

 

27 Jul 2016 v11.9

Additions / Changes:

 

Clause 42

Withholding – Capital Gains

42.1

The parties acknowledge (subject to Clause 42.2) where the Purchase Price (plus less any applicable GST less any input tax credit) of the Property is two million dollars ($2,000,000) or more, the Buyer will on or before Settlement, in compliance with the foreign resident capital gains withholding payments provisions of Schedule 1 of the Taxation Administration Act 1953 (Cth) (Schedule 1) be required to:

(1)

withhold from the purchase monies a sum equal to 10% of the Purchase Price or such lesser sum as determined in a notice of variation provided in accordance with section 14-235 of Schedule 1; and

(2)

pay the withheld monies to the Australian Taxation Office (ATO) in accordance with Schedule 1 and, in addition,

(3)

promptly provide evidence of payment made in accordance with Clause 42.1(2) to the Seller

42.2

Where the Seller has, not less than 3 Business Days (or such shorter time as the parties may agree) prior to Settlement, provided a clearance certificate from the ATO in accordance with Schedule 1, valid at the time of  Settlement, the Buyer’s obligation under Clause 42.1 will not apply.

(1)

the Property is excluded under section 14-215 of Schedule 1 from the requirements of the withholding payments provisions; or

(2)

the Seller has, not less than 3 Business Days (or such shorter time as the parties may agree) prior to Settlement, provided a clearance certificate from the ATO in accordance with Schedule 1, valid at the time of  Settlement,

The Buyer’s obligation under Clause 42.1 will not apply.

42.3

Payment made in accordance with Clause 42.1 will, for Settlement:

(1)

using e-conveyance, be treated as a financial  obligation in respect of Clause 11.1(15); and

(2)

for non-e-conveyance treated as an adjustment (Clause 11.2(4)(a)).

 

01 Jul 2016 v11.8

Additions / Changes:

 

Clause 11.1(15)

Where an Outgoing or other financial obligation is to be discharged or paid at Settlement, and if such payment cannot be facilitated through the e-conveyance the parties will make suitable arrangements to discharge or pay the Outgoing  or other financial obligation by means other than through e-conveyance.

 

Clause 37.2(a)

by delivering the notice it to the party personally; or

 

Clause 42

Withholding – Capital Gains

42.1

The parties acknowledge (subject to Clause 42.2) where the Purchase Price (less any GST) of the Property is two million dollars ($2,000,000) or more, the Buyer will on or before Settlement, in compliance with the foreign resident capital gains withholding payments provisions of Schedule 1 of the Taxation Administration Act 1953 (Cth) (Schedule 1) be required to:

(1)

withhold from the purchase monies a sum equal to 10% of the Purchase Price or such lesser sum as determined in a notice of variation provided in accordance with section 14-235 of Schedule 1; and

(2)

pay the withheld monies to the Australian Taxation Office (ATO) in accordance with Schedule 1 and, in addition,

(3)

promptly provide evidence of payment made in accordance with Clause 42.1(2) to the Seller

42.2

Where:

(1)

the Property is excluded under section 14-215 of Schedule 1 from the requirements of the withholding payments provisions; or

(2)

the Seller has, not less than 3 Business Days (or such shorter time as the parties may agree) prior to Settlement, provided a clearance certificate from the ATO in accordance with Schedule 1, valid at the time of  Settlement,

The Buyer’s obligation under Clause 42.1 will not apply.

42.3

Payment made in accordance with Clause 42.1 will, for Settlement:

(1)

using e-conveyance, be treated as a financial  obligation in respect of Clause 11.1(15); and

(2)

for non-e-conveyance treated as an adjustment (Clause 11.2(4)(a)).

 

18 Jun 2015 v11.7

Additions / Changes:

 

Item 2

SELLER’S AGENT

Name:       .……….……………………………………………………………………………………………………

Address:    ……….…………………………………………………………………………………………………….

ABN:         …………………… Phone: (…)….….…….… Fax: (…)….….…….… Mobile: .……………………

Email:        ……………………………………………….……………………………………..………. Notices*:_

Licence Number: ………………………………………………………………… Expiry Date: …… / …... / ......

 

Item 3

SELLER   Note: If insufficient space room to list additional Names and Addresses in Item (27)(Special Conditions) attach an annexure.

Name:        ..……………………………………………………………………………. DOB: …… / …… / …...

Address:    ………………………………………………………………........................................................

ABN/ACN:  ……………… Phone: (…)….….…….… Fax: (…)………………….. Mobile: .…………………..  

Email:         ………………………………….……………………………………..………………….. Notices*:_

Solicitor/ Self Acting ……………………………………………………………………………………………....

Address:     ……….................………………………………………………………………..…………………….

Phone:       (…) ….…………….............. Fax: (…) ….……………............. Mobile: …………………………

Email:        …………….………………………………….….......... Notices*:_ Contact: ………………………

 

Item 4

BUYER’S AGENT

Name:        ..…………………………………………………………………….. ABN:    ………………………...

Address:    ………………………………………………………………........... Phone: (…)…….…….…………

                ………………………………………………………………………. Fax:     (…)…….…….…………

Email:        ………………………………………………………… Notices*:_ Mobile:  ….…..…………………

 

Item 5

BUYER   Note: If insufficient space room to list additional Names and Addresses in Item (27) (Special Conditions) attach an annexure.

Name:        …………………………………………………………………………………………………………...

Address:    ………………………………..............................................................................................

ABN/ACN:  ………………… Phone: (…).….…….…… Fax: (…).….…….……  Mobile: .……………………  

Email:        ……………………………………………….…………………..………………………... Notices*:_

Solicitor/ Self Acting ………………………………………………………………………………………………

Address:    …………………………………................…………………………………….………………………

Phone:       (…)…….……………........ Fax: (…)…….……………........ Mobile: ….……………….………….

Email:        ……………………………………………….…………… Notices*:_ Contact: ……………………

 

Item 7

Header

PURCHASE PRICE Unless expressly provided any GST payable is included in the purchase price.   Where applicable, include GST

 

Item 12

SETTLEMENT DATE/PLACE

12.1

Date: …… / …… / …… OR ………………………….…….…......... days from the Date of Contract

OR   ……….…………………………………………………………………………………………………

Place:  ……………………………………………………………………..……… (suburb, city or Town)

12.2

Settlement will be conducted by: (If neither (a) nor (b) is checked, e- conveyance will apply)

(a)

_ e-conveyance  (Clause 11.1) and;

   the Electronic Workspace will be opened by the Seller unless otherwise agreed.

(b)

_ Non e-conveyance  (Clause 11.2) and the place of settlement will be:

   ………………………………………………………………………………….……………………

 

Item 13

ELECTRICITY SAFETY SWITCH

An Approved Safety Switch _ is _ is not installed for general purpose socket outlets.

 

Item 14

SMOKE ALARMS

Smoke alarms installed on the Property: _ Yes _ No

 

Item 14

ELECTRICITY SAFETY SWITCH

An Approved Safety Switch _ is _ is not installed for general purpose socket outlets.

 

Item 15

SMOKE ALARMS

Smoke alarms installed on the Property: _ Yes _ No

 

Item 20

Header

WORK ORDERS / NOTICES / APPLICATIONS (if insufficient space, attach an annexure schedule)

 

Item 27

Header

SPECIAL CONDITIONS     (If insufficient space attach separate sheet an annexure)

The Special Conditions are inserted under instruction from a party to this Contract and where not prepared by that party, were prepared by an Australian Legal Practitioner and not the Agent.  No legal advice has been given or warranty provided by the Agent.  Legal advice should be sought.

 

Item 28

Important Note

(1)

All Parties MUST sign annexures and initial any alterations to the Contract

(2)

All Parties should initial at the bottom of each page of the Contract (Failure to do so does not invalidate this Contract)

 

Terms and Conditions

Heading

Contract for Sale of Residential Lots in a Community Title Scheme - Terms and Conditions - Whereby the Seller agrees to sell and the Buyer agrees to buy the Property.

 

Clause 1

Definitions

Defined terms have the same meaning throughout this Contract.

In this Contract (which includes the Item Schedule and Disclosure Statement) the following terms mean:

 

Clause 1(4)

Bank: A business carrying on a bank business as defined in section 5 of the Banking Act 1959 (CTH), the Reserve Bank or Bank constituted under State law. A Bank as defined in the Banking Act 1959 (Cth), the Reserve Bank or Bank constituted under State Law.

 

Clause 1(11)

Business Day: Any day other than a Saturday, Sunday or public holiday in the State of Queensland and excluding the period from 27th December to 31st December inclusive (unless otherwise agreed between the parties).

 

Clause 1(12)

Buyer: The Buyer named in Item (5), including any additional Buyers named listed in an attached annexure Special Conditions, Item (27).

 

Clause 1(13)

Contract: means this Contract including Item Schedule, Terms and Conditions, Special Conditions and attached annexures or documents referred to in the Item Schedule.

 

Clause 1(17)

e-conveyance:  means a conveyancing transaction to be completed using e-conveyancing.

 

Clause 1(18)

e-conveyancing: means a system of land conveyancing that uses an ELN to lodge documents electronically for the purposes of the land titles legislation.

 

Clause 1(19)

Electronic Document: means any electronic communication (including Notices) as defined in the Electronic Transactions (Queensland) Act 2001 including any electronically generated document situated on an external server readily accessible via a link within an electronic communication or other electronically generated document.

 

Clause 1(20)

Electronic Workspace (Workspace):  for an e-conveyance, means a shared electronic Workspace within an ELN that allows the participating subscribers to the e-conveyance:

(a)

to lodge a document electronically under the National Law; and

(b)

if relevant, to authorise or complete Financial Settlement of the e-conveyance.

Once opened such Electronic Workspace will be an electronic address designated by the parties in accordance with Section 24 of the Electronic Transactions (Queensland) Act 2001.

 

Clause 1(21)

Electronically Signed: means an electronically generated signature and includes a digital signature as defined in the National Law.

 

Clause 1(22)

ELN: means an Electronic Lodgment Network under the National Law.

 

Clause 1(24)

Financial Settlement: of an e-conveyance, means the exchange of value, in an ELN, between financial institutions in accordance with the instructions of participating subscribers to the e-conveyance.

 

Clause 1(31)

National Law: means Electronic Conveyancing National Law (Queensland).

 

Clause 1(35)(1)

All government and local government rates and charges assessed on the Land including land tax, water and sewerage rates, general rates, fire levy and all periodic charges up to and including the Adjustment Date; and/or

 

Clause 1(36)

Participation Rules: means the rules determined under section 23 of the National Law.

 

Clause 1(45)

Related Document: means any written communication (including Notices), with regard to this matter, between the parties including any Electronic Documents.

 

Clause 1(47)

Seller: The Seller named in Item (3), including any additional Sellers named listed in an attached annexure Special Conditions, Item (27).

 

Clause 1(50)

Settlement Time: of an e-conveyance, means the time of locking of the Workspace but not later than 4.00pm AEST on the Settlement Date.

 

Clause 2(2)

'person' includes a firm, a Body Corporate together with executors, administrators, successors and assigns.

 

Clause 4.3

(a)

Where Item (13.2)(c) applies and there is no Pool Safety Certificate and the Buyer has indicated an intention to obtain a Pool Safety Inspection in Item (11)(c), the Seller authorises the Buyer to appoint a licensed Pool Safety Inspector for the purposes of carrying out such inspection and to receive the results of such inspection.

(b)

The Buyer will be deemed satisfied with the Pool Safety Inspection where a Pool Safety Certificate issues on or before the Inspection Date.

Note to Buyer: Building Act 1975 - If no Pool Safety Certificate is received and the Contract proceeds to Settlement, it shall be the Buyer’s responsibility to, at its own cost, obtain such certificate within 90 days (the usual period) or such further period after Settlement where section 246ATJ(2)(b) of the Building Act 1975 applies.  The Buyer is referred to section 4 of the Form 36.

Note to Seller:  Where a Pool Safety Inspection has been carried out resulting in a Nonconformity Notice issuing and the Contract does not proceed to Settlement, the local authority may require the pool owner, at its cost, to carry out works to comply with the relevant Pool Safety Standard.

 

Clause 4.4

Upon receipt of any inspection report the Buyer must promptly, but no later than 5pm on the Inspection Date, give notice to the Seller:

(a)

that the Buyer is satisfied with the inspection report/s; or

(b)

that the Buyer is not satisfied with the inspection report/s and terminates the Contract.

The Buyer will be deemed satisfied where a Pool Safety Certificate issues on or before the Inspection Date.

Note to Buyer: Building Act 1975 - If no Pool Safety Certificate is received and the Contract proceeds to Settlement, it shall be the Buyer’s responsibility to, at its own cost, obtain such certificate within 90 days (the usual period) or such further period after Settlement where Section 246ATJ(2)(b) of the Building Act 1975 applies.  The Buyer is referred to Section 4 of the Form 36.

Note to Seller:  Where a Pool Safety Inspection has been carried out resulting in a Nonconformity Notice issuing and the Contract does not proceed to Settlement, the local authority may require the pool owner, at its cost, to carry out works to comply with the relevant Pool Safety Standard.

 

Clause 4.11

Inspectors who conduct building and/or pest inspections for the purposes of this Contract must be licensed as an Building Inspectors holding a complete residential building inspection licence in accordance with the Queensland Building and Construction Commission Act 1991 and Regulation there to.

 

Clause 5.1

This Contract is subject to and conditional upon the Lender approving a loan to the Buyer in the Finance Amount, on terms and conditions satisfactory to the Buyer, for the purchase of the Property by the Finance Date (or such extended date as may be agreed). See Item (10).

 

Clause 5.3

The Buyer must give notice to the Seller immediately upon approval/rejection of Finance in accordance with Clause 37 (Notice) and in any case, not later than the Finance Date.

 

Clause 6

GST

6.1

Unless expressly provided in the Contract the Purchase Price includes any GST liability in respect of the sale of the Property.

6.2

Any GST incurred by the Seller in respect of a taxable supply under this Contract must be paid or reimbursed by the Buyer on provision of a tax invoice.

 

Clause 7.14

Any Special Contributions or exclusive use levy levied on the issuing of a notice prior to the Date of Contract will be the responsibility of the Seller and thereafter will be the responsibility of the Buyer.

 

Clause 9

Release of Security Interest

9.1

Should any of the assets, being personal property, be subject to a security interest to which the Personal Property Securities Act 2009 (Cth) applies:

(a)

Such assets will be transferred free of the security interest.

(b)

Where required to perfect the release of the security interest the Seller will ensure that prior to Settlement the Buyer receives from the secured party a written undertaking to register a financing change statement with respect to the personal property the subject of the security interest.

(c)

Words and phrases which are defined in the Personal Property Securities Act 2009 (Cth) have the same meaning in Clause 9 unless the context requires otherwise.

 

Clause 11.1

Settlement by Electronic Conveyancing (e-conveyance)

(1)

Where Item (12.2)(a) specifies settlement by e-conveyance this Clause (11.1) will apply and Settlement including lodgment of transfer documents and payment of Balance Purchase Price monies will proceed electronically in accordance with the National Law.

(2)

Where an inconsistency exists between this and other clauses in the Contract this clause will apply.

(3)

Where a party, acting reasonably, is not able to proceed with e-conveyance written notice, including advice regarding the reason for such inability must be given as soon as possible prior to Settlement Date and the provisions of Clause 11.1(10)(b)(2) will apply with regard to Settlement.

(4)

Each party must:

(a)

be, or engage a representative who is a Subscriber for the purposes of the National Law; and

(b)

conduct this transaction in accordance with the National Law and Participation Rules.

(5)

Once the Contract has become unconditional the party designated in Item (12.2)(a) must promptly cause a Workspace to be opened and populated with all necessary information and documents to facilitate Settlement and advise all relevant parties, including relevant financial institutions, and invite them to join the Workspace.

(6)

Upon being invited to join the Workspace the remaining parties together with relevant financial institutions must promptly join the Workspace and cause the Workspace to be populated with all necessary information and documents, to facilitate Settlement.

(7)

A party will not be in default where it is prevented from complying with an obligation under this clause due to failure by the other party or a financial institution to comply with an obligation under this Clause (11.1).

(8)

The parties will confirm through the Workspace a Settlement Time. Neither party may terminate this Contract while the Workspace is locked for settlement.

(9)

Settlement occurs when the Workspace for the e-conveyance records that:

(a)

Financial Settlement occurs; or

(b)

if there is no Financial Settlement, the documents necessary to transfer title have been accepted for electronic lodgment by the registrar.

(10)

Each party must do everything reasonably necessary and in a reasonable timeframe to ensure:

(a)

Settlement (including Financial Settlement) occurs electronically on the Settlement Date; or

(b)

Where, the parties having complied with the provisions of Clauses 11.1 and 11.3(6), Settlement cannot occur neither party is in default and Settlement including Financial Settlement will be completed:

(1)

by e-conveyance on the next Business Day after the Settlement Date; or if the parties agree,

(2)

in accordance with Clause 11.2, in which case Settlement must be within 3 Business Days of the Settlement Date,

In either case time remains of the essence.

(11)

Should deposit monies held by the agent be required for settlement purposes the agent is authorised and directed, if instructed by the Seller, to release the deposit monies less any commission to the Trust Account of the Seller's Solicitor. The Seller's Solicitor will hold the monies as Deposit monies under the Contract and is authorised to pay the monies as directed by the Seller in accordance with the directions of the parties.

(12)

All monies required for e-conveyance settlement must be cleared funds prior to Settlement Time.

(13)

Where monies have been paid to an incorrect account the parties must take all reasonable steps to recover such monies for payment to the intended recipient.

(14)

Each party will be responsible for their own costs in respect to e-conveyance.

(15)

Where an outgoing is to be discharged at Settlement and payment cannot be facilitated through the e-conveyance the parties will make suitable arrangements to discharge the obligation by means other than through e-conveyance.

 

Clause 11.2

Settlement by a Method other than Electronic Conveyancing (Non e-conveyance)

(1)

Where Item (12.2)(b) specifies settlement by non e-conveyance or 11.1(3) applies or the parties agree in accordance with Clause 11.1(10)(b)(2), this Clause (11.2) will apply.

(2)

Settlement shall take place on the Settlement Date specified in Item (12) (or if the Settlement Date is not a Business Day on the next Business Day following) between 10.00am and 4.00pm AEST 5.00 pm:

(a)

at the settlement office of the Seller’s mortgagee or solicitor; or  

(b)

as otherwise agreed upon by the parties; or

(c)

failing agreement, at the nearest office, to the nominated place for Settlement, at which land title documents may be lodged for registration.

(3)

Notwithstanding the completion of Item (12) the parties may agree to e-conveyance at any time, at which point the provisions of Clause 11.1 will apply.

(4)

On the Settlement Date:

(a)

the Buyer must, pay the Balance Purchase Price, adjusted as provided in this Contract, by Bank Cheque/s (as directed by the Seller or its Solicitor in writing) and on compliance by the Buyer with the conditions of this Contract

(b)

the Seller must deliver (or cause to be delivered) to the Buyer (or as directed by the Buyer) Transfer Documents free from Encumbrances, unless detailed in Item (19), executed by the Seller in a form capable of immediate registration (save for stamping) in accordance with the Land Title Act 1994.

(1)

the instrument of title, if any, for the Land.

(2)

Transfer Documents free from Encumbrances, unless detailed in Item (19), executed by the Seller in a form capable of immediate registration (save for stamping) in accordance with the Land Title Act 1994.  Provided however; should the title documents with respect to the Land relate also to other land, the Seller shall produce the title document to allow registration of the transfer, cost of production will be borne by the Seller and costs in relation to any new title will be borne by the Buyer.

(5)

The Buyer shall be required to bear the cost of no more than four Bank Cheques in payment of the Balance Purchase Price.

 

Clause 11.3

Settlement – Other Provisions

On Settlement in accordance with Clause 11.1(9) or 11.2(4) (whichever is applicable) the Seller must deliver (or cause to be delivered) to the Buyer (or as directed by the Buyer):

(1)

the instrument of title, if any, for the Land. Provided however the title documents with respect to the Land relate also to other land, the Seller must, unless otherwise agreed to by both parties at the time of Settlement produce those documents at the nearest office at which land title documents may be lodged to enable registration of the transfer. The Buyer shall provide at or before Settlement such undertakings as the Seller may reasonably require in relation to the production of the title documentation.  Cost of production and any new title will be borne by the Buyer.

(2)

all the Seller’s keys and other devices and codes for entry, exit and security unless an alternative time and place for delivery is agreed to in writing.

(3)

all Tenancy Documents, including all documents and forms required to comply with the provisions of the Residential Tenancies and Rooming Accommodation Act 2008 including Bond transfers and notice to Tenants advising of the sale, provided however section 117 of the Property Law Act 1974 does not apply insofar as it assigns to the Buyer the right to recover rent arrears.

(4)

in the case of short term and/or holiday lettings where the Buyer agrees to accept same, any monies paid by way of letting deposits or where such deposits have been paid to a letting Agent, and assignment thereof in favour of the Buyer.

(5)

Rents and Income unpaid for any period prior to the Settlement Date and not adjusted between the parties at Settlement is not assigned to the Buyer but remains a debt due to the Seller in which case the provisions relating to Rent of section 117 of the Property Law Act 1974 are not applicable.

(6)

title to any chattel forming part of the Property including assignable warranties and documentation relating thereto, to which the Buyer may be reasonably entitled.

(7)

in compliance with Clause 17, all documentation necessary to effect release of any Encumbrance over the Property,  except as detailed in Item (19), including where applicable, property subject to a security interest to which the Personal Property Securities Act 2009 (CTH) applies.

(8)

a properly completed property transfer information form in accordance with the Fire and Emergency Services Act 1990.

(9)

documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular, but not exclusively, those relating to prior transfers, tenancies, licenses, warranties, relevant certificates relating to pool safety compliance, noncompliance or exemption, and any unregistered dealings and in so doing assigns to the Buyer the benefit of such tenancies, licenses and warranties.

(10)

vacant possession of the Land (except if tenanted) and title to all the Property.

9.3

The Buyer shall be required to bear the cost of no more than four Bank Cheques in payment of the Balance Purchase Price.

9.4

If the Title document on Settlement relates to other lots, the Seller must produce that document to enable registration of the Transfer.

9.5

Vacant possession of the Lot (except if tenanted) and title to all the Property shall be given and passed to the Buyer on payment of the Balance Purchase Price.

 

Clause 13.2

Should the Seller terminate this Contract in accordance with Clause 13.1 the Seller may, without prejudice to any other rights:

(1)

claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4; and/or

(2)

resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages.

(3)

may retain the Property and sue the Buyer for damages for breach of this Contract.

(4)

claim any Deposit monies that are in arrears as a liquidated debt.

(5)

appropriate the profit, if any, on resale.

 

Clause 13.3

Should the Seller affirm this Contract in accordance with Clause 13.1 the Seller may, without prejudice to any other rights:

(1)

sue the Buyer for specific performance of the Contract and/ or damages for breach as well as, or in lieu of, specific performance of the Contract; and

(2)

recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt.

 

Clause 14.3

Should the Buyer terminate this Contract in accordance with Clause 14.1 the Buyer may, without prejudice to any other rights:

(1)

recover from the Seller/Stakeholder the Deposit and any other monies paid by the Buyer under the Contract.; and

(2)

the Buyer will be entitled to any interest earned on a Deposit invested in accordance with Clause 3.7.; and

(3)

the Buyer, in addition be is entitled to claim interest on any monies paid by the Buyer under the Contract (other than the Deposit) at the rate prescribed in Item (21) to be calculated from and including the date of payment by the Buyer up to, but excluding the date on which the money is repaid.; and

(4)

sue the Seller for damages.

 

Clause 21.2

If at the Date of Contract:

(a)

under the Local Authority planning provisions the Present Use is unlawful; or

(b)

access and utilities to the Lot are not legally secured; or

(c)

compliance with or application of any Government or local Government requirements or proposals, statutory or otherwise (including Transport Infrastructure and notice of intention to resume), with respect to the Lot or adjoining land will materially adversely affect the Property; or

(d)

the Lot and Improvements are affected by the Queensland Heritage Act1992 or included in the WORLD HERITAGE LIST; or

(e)

the Lot or part of it is declared as acquisition land under the Queensland Reconstruction Authority Act 2011.

and these matters have not been disclosed in this Contract, the Buyer may by notice to the Seller, given not less than 2 days before Settlement, terminate this Contract. If such notice is not given at all or as required, the Buyer will be deemed to have accepted the Property subject to any matters outlined in Clause 19.2.

 

Clause 24

Property Survey

The Buyer may inspect the Property and in so doing cause a survey to be made of the Lot and fixed and permanent structures thereon and should there be an error or misdescription with respect to the dimensions of the Lot or an encroachment onto or from the Lot the Buyer may:

(a)

may in the case of an error, misdescription or encroachment, any one of which is of a material nature, elect (in writing to the Seller) to complete this Contract or terminate before Settlement; or

(b)

must in the case of an error, misdescription, or encroachment, any one of which is of an immaterial nature, disclosed by survey or otherwise, the Buyer must complete the purchase in accordance with the terms of this Contract.

Should the Contract be terminated in accordance with Clause 24(a), all monies by way of Deposit shall be refunded to the Buyer.

 

Clause 25

Property Description

In the case of a material or immaterial error or misdescription of the Property, including the Seller’s title thereto, the Buyer may:

(a)

may in the case of a material error or misdescription, elect (in writing to the Seller) to complete this Contract or terminate before Settlement.

(b)

must in the case of an immaterial error or misdescription, either of which are immaterial, the Buyer must complete the purchase in accordance with the terms of the Contract

Should the Contract be terminated in accordance with Clause 25(a), all monies by way of Deposit shall be refunded to the Buyer.

 

Clause 27.1

The Seller must, if requested by the Buyer, at a reasonable time prior to Settlement, provide to the Buyer current copies of all relevant documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those referred to in Clauses 11.3(6) and 11.3(9).

 

Clause 33.1

Time shall be of the essence. Settlement must take place:

(a)

in the case of e-conveyance, at any time on the Settlement Date at any time between the hours specified in Clause 9.1 of this Contract in accordance with Clause 11.1(8); or

(b)

otherwise at any time between the hours specified in Clause 11.2(2) of this Contract.

 

Clause 37

Related Documents/Notices

37.1

The parties agree and confirm documents may be forwarded electronically in accordance with this clause.

37.2

Any notice Related Document, including this Contract, to be served on any party under this Contract shall be in writing and may be served on that party:

(a)

by delivering the notice to the party personally; or

(b)

by leaving it for the party at thate party’s address as stated in the Items Schedule (3) or (5); or

(c)

by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in the Items Schedule (3) or (5); or

(d)

by a sender’s cleared facsimile transmission to the party's facsimile number in Items (3) or (5); or

(d)

as an electronic communication by facsimile transmission, email or SMS text message to the party at the appropriate electronic address as stated in the Item Schedule; or

(e)

if both parties agree and it is lawful, by electronic transmission to the party at the email address shown for that party in the Item Schedule. (Refer to Items (2) to (5) of this Contract); or

(e)

by delivery to the other party’s solicitor’s office; or

(f)

by delivery to the party’s solicitor’s office by any of the methods outlined in Clauses 35.1(a) to 35.1(e) above.

(f)

by delivery of an electronically signed document to an Electronic Workspace opened in accordance with Clause 11.1; or

(g)

by delivery to an alternative address provided in writing by the party, by any of the methods outlined in Clauses 37.2(a) to (e) above.

37.3

A notice Related Document so posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the notice Related Document would be delivered.

37.4

A facsimile notice Related Document sent by electronic communication will shall be deemed to have been served when transmitted to the facsimile number, agreed upon by the recipient, at the time of the facsimile transmission received in accordance with Section 24 of the Electronic Transactions (Queensland) Act 2001 and otherwise complies with legislation.

37.5

Notices Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.

37.5

A Seller’s Agent shall, for the purpose of this Clause, be recognised as a party and may receive Notices in accordance with Clause 35.1 on the Seller’s behalf if authorised by the Seller. Where notice cannot otherwise be served on the Seller in accordance with this Clause, notice may be served on the Seller’s Agent.

37.6

Notices Related Documents must be served before 5pm on a Business Day, failing which, such Notice Related Document will be deemed to have been served on the next Business Day.

37.7

The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.

37.8

The parties agree to execution, delivery and service of Related Documents electronically by a method provided by DocuSign or such other agreed electronic signature service provider.

 

Clause 37

Provision of Documents

37.1

The parties agree and confirm documents may be forwarded electronically if the recipient has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Contract.

37.2

This Contract may be executed in any number of counterparts.  Together all counterparts make up one instrument.

37.3

This Contract may be entered into by and becomes binding on the parties by one party signing the Contract that has been signed by the other (or a photocopy or facsimile of that Contract) and transmitting a facsimile of it to the other or to the other party’s Agent or Solicitor.

 

Clause 38

Execution of Contract

38.1

This Contract may be executed in any number of counterparts. Together all counterparts make up one instrument.

38.2

This Contract may be entered into by and becomes binding on the parties by one party signing the Contract that has been signed by the other (or a copy of that Contract) and transmitting a copy of it to the other or to the other party's Agent or Solicitor.

 

11 Jun 2015 v11.6

Copyright statement updated.

 

18 Dec 2014 v11.5

Additions / Changes:

 

Item 28

Signature section revised.

 

01 Dec 2014

AU-QLD-RE-PS-003 Form made obsolete

AU-QLD-RE-PS-004 v11.4

Additions / Changes:

 

Instructions Page

Important Instructions page removed.

 

Item 1

DATE OF CONTRACT DATE

 

Item 28 - Buyer’s Acknowledgement

a.

having, where applicable, received copies of any Application or Order in accordance with Section 83 of the Neighbourhood Disputes (Dividing Fences and Trees) Act 2011 as more particularly set out in Item (20)(b).; and

b.

in the case of a Property with a Regulated Pool (Item 15.2(c) or Item 15.3(b)) where no Pool Safety Certificate is current, received a Form 36 - Notice of no pool safety certificate.

 

Item 28 - Contract Warning

IMPORTANT : COOLING-OFF PERIOD (SECTION 165(2))

(for sales entered into other than by Auction)

 

The contract may be subject to a 5 business day statutory cooling-off period. A termination penalty of 0.25% of the purchase price applies if the buyer terminates the contract during the statutory cooling-off period. It is recommended the buyer obtain an independent property valuation and independent legal advice about the contract and his or her cooling-off rights, before signing.

 

Note: Cooling-off Period does NOT apply to a contract for sale of a lot in a Community Title Scheme by auction.

 

Item 28

Signature Section revised.

 

Item 28 - Important Note

IMPORTANT NOTE:

(1) All Parties MUST Initial any alterations to the Contract

(2) All Parties should initial at the bottom of each page of the Contract (Failure to do so does not invalidate this Contract)

 

Clause 1(14)

Date of Contract: The date as set out in Item (1) or the date of the last party signing, whichever is the later.

 

Clause 3.7

Investment of Deposit: (Note: see Section 17 380 of the Agents Financial Administration Act 2014 Property Agents and Motor Dealers Act 2000)

 

Clause 32.1(1)(a)

issued on or before the Date of Contract Date; or

 

17 Jun 2014

AU-QLD-RE-PS-003 v10.3

AU-QLD-RE-PS-004 v11.3

Additions / Changes:

 

Clause 1(2)

Approved Safety Switch: defined as a residual current device under Schedule 9 of the Electrical Safety Regulation 201302.

Note: Where an Approved Safety Switch is not installed, advice should be obtained from a licensed electrician to ensure compliance with the Electrical Safety Regulation 201302.

 

Clause 4.11

Inspectors who conduct building inspections for the purposes of this Contract must be licensed as Building Inspectors in accordance with the Queensland Building and Construction Commission Services Authority Act 1991.

 

Clause 9.2(9)

a properly completed property transfer information form in accordance with the Fire and Emergency Rescue Services Act 1990.

 

Clause 13.1(10)

the Seller has complied with Division 5A of the Fire and Emergency Rescue Services Act 1990 with respect to smoke alarms.

Note: From the 1st July 2007 owners of all houses and units (domestic dwellings) in Queensland must install and maintain smoke alarms in compliance with the Fire and Emergency Rescue Services Act 1990 as amended.

 

12 May 2014

AU-QLD-RE-PS-003 v10.2

AU-QLD-RE-PS-004 v11.2

Additions / Changes:

 

Clause 13.1(6)

except as disclosed in Item (20)(a) and (20)(b), there will be no the Seller has no knowledge of any outstanding or unsatisfied applications, judgments, Work Orders, demands or writs with respect to any Act, Regulation or By-Law:

(a)

required to be complied with by the Seller which have not been fully complied with; or

(b)

which may adversely affect the Property or the Seller’s ability to complete this Contract; or

(c)

which may bind the Buyer

 

12 Mar 2014

AU-QLD-RE-PS-003 v10.1

AU-QLD-RE-PS-004 v11.1

Additions / Changes:

 

Clause 38

Privacy Statement

38.1

The Agent collects and uses personal information provided by you (all parties) as a party to this Contract to provide the services required by you or on your behalf.

The Agent must comply with the provisions of the Australian Privacy Principles (Privacy Act 1988) and where required maintain a Privacy Policy.

38.2

The Privacy Policy outlines how the Agent collects and uses personal information provided by you (all parties) as a party to this Contract, or obtained by other means, to provide the services required by you or on your behalf.

38.3

You as a party to this Contract agree the Agent may, subject to the Privacy Act 1988 (CTH) (where applicable), collect, use and disclose such personal information to:

(1)

third parties as may be required by the Agent for the purposes of marketing, sales promotion, administration relating to the use of the Agent’s  products and services and complying with legislative and regulatory requirements; and/or

(2)

property data collection agencies

38.4

Without provision of certain information the Agent may not be able to act effectively or at all on your behalf.

38.5

The parties have the right to access such personal information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information.

38.6

The Agent may from time to time provide information to a data collection agency such as RP Data Limited.  Data collection agencies provide information to the real estate, finance and valuation industries to enable accurate valuations of properties.

38.7

The Agent will provide (where applicable), on request, a copy of its Privacy Policy.

 

16 Sep 2013

AU-QLD-RE-PS-003 v10.0

AU-QLD-RE-PS-004 v11.0

Additions / Changes:


Clause 1(22)

Land Tax Clearance Certificate: A certificate issued by the Commissioner of Land Tax that describes the land charged, and showing whether or not any land tax remains unpaid on the land described in the application and where Land tax remains unpaid, the amount thereof. (Section 37 (1A) 60(5)(a), (b) of the Land Tax Act 2010)

 

01 Aug 2013

AU-QLD-RE-PS-003 v9.9

AU-QLD-RE-PS-004 v10.9

Additions / Changes:


Important Instructions

Item G(2)

received, read and signed the completed BCCM Section 206 – Disclosure Statement signed by the Seller or authorised person (accompanied by the current Community Management Statement for the Scheme)


Item 11

BUILDING /PEST/ POOL SAFETY INSPECTIONS Only completed details will apply Clauses 4, 17(1) & 31

Note: This Item is not applicable where the Property is sold by Auction

(a) Building Inspection:   Yes/No  

(b) Pest Inspection:    Yes/No  

(c) Pool Safety Inspection:   Yes/No (Applicable only if Item (15.2(c)) is ticked)

(d) Community Management Statement:   Yes/ No (regarding the current registered CMS available from the Department of Natural Resources and Mines)

 

Inspection Date:     …………………………………….………………………………..(Date to be completed by)

Note: If ‘yes’ is selected in Item (11)(a), (b), or (c) or (d), an Inspection Date must be inserted

 

Acknowledged Defects/ Exclusions:

.........................................................................................................................................................


Clause 1(13)

CMS: means Community Management Statement as registered, or capable of being registered, with the Department of Natural Resources and Mines.


Clause 4

Property Inspections


Clause 4.1(3)

where Item (11)(d) applies the relevant CMS has been examined and deemed satisfactory by the Buyer.


Clause 4.2

In compliance with this Clause the Buyer will promptly, after the signing of this Contract by the Seller, take all reasonable steps to obtain the CMS and inspection report/s in compliance with Clause 4.1.


Clause 4.14

In respect of Item 11(d) where the Buyer has promptly requested the CMS report from the relevant authority and such request has not been satisfied at the Inspection Date (Item 11) the parties will extend the Inspection Date for the CMS to a day two business days after receipt of the CMS by the Buyer.


Clause 10

10.1

This Lot is sold subject to BCCMA and the Body Corporate By-laws.

11

Body Corporate Matters

10.2

The Seller must give to the Buyer forthwith upon receipt from the Body Corporate, copies of any notices from or resolutions passed by the Body Corporate or any new or amended community management statement CMS recorded for the Scheme received after the Date of Contract.

10.3

The Buyer may terminate this Contract by written notice to the Seller (given at or prior to Settlement) if, after the Date of Contract but prior to Settlement, the Buyer becomes aware of any action taken, resolution passed or difference in any new or amended CMS (particulars of which have not been disclosed by the Seller in this Contract) by the Body Corporate which would materially prejudice the Buyer if compelled to complete the Contract.

11.3

Notice of termination must be given to the Seller within 14 days after the Seller gives the Buyer the information set out in Clause 11.1 hereof.



Clause 13.3(1)

the CMS community management statement for the Scheme provided prior to signing this Contract is in full force of effect and except as otherwise disclosed in this Contract there is no proposed change or Body Corporate meeting called proposing any change, or resolution in respect to current community management statement the current operation and management of the scheme.


Clause 13.3(3)

the Scheme CMS community management statement is complete in its allocations with respect to details affecting the Lot, and/or the registered owner.

 

22 Apr 2013

AU-QLD-RE-PS-003 v9.8

AU-QLD-RE-PS-004 v10.8

Additions / Changes:


Item 28

Buyer’s Acknowledgement: By signing below the Buyer/Buyer’s Agent acknowledges, prior to signing the Proposed Relevant Contract, having, where applicable, received copies of any Application or Order in accordance with Section 83 of the Neighbourhood Disputes (Dividing Fences and Trees) Resolution Act 2011 as more particularly set out in Item (20)(b).


Clause 1(22)

NDRA: means the Neighbourhood Disputes (Dividing Fences and Trees) Resolution Act 2011.


Clause 3.7

Investment of the Deposit: (Note: see Section 380 of the Property Agents and Motor Dealers Act 2000)

Where the Stakeholder is instructed by the parties to invest the Deposit, subject to any legislative requirements, then (except in the case of Bank Bond/Guarantee):


Clause 40

40.

Materially Adverse Event

40.1

Where a party to this contract (Relevant Party) is unable to reasonably carry out an Essential Obligation due to a Materially Adverse Event (MAE) then for the Relevant Period of the MAE the parties agree time will cease to be of the essence and a failure by a party to perform its obligations during the Relevant Period will not be a breach of the contract.

40.2

The Relevant Party must:


(a)

promptly when able notify the other party of the MAE and how it prevents performance of a particular Essential Obligation.


(b)

take reasonable steps to mitigate the effect of the MAE with respect to its obligations.


(c)

as soon as possible, give notice advising when it is no longer prevented from carrying out the Essential Obligation. Such notice may also include the matters detailed in Clause 40.3.

40.3

At the end of the Relevant Period, or where a notice served in accordance with Clause 40.2(c) does not contain the matters set out in paragraphs (a) to (d) of this sub-clause, either party may serve notice on the other party


(a)

advising that the Relevant Period/MAE is over,


(b)

requiring performance of or compliance with the Essential Obligation,


(c)

giving a specific time and date for the performance or compliance being not less than 7 days and not more than 14 days from the date of delivery of the notice,


(d)

advising that, on delivery of the notice, time is again of the essence,


Such notice will be a settlement notice where the particular Essential Obligation notified in accordance with Clause 40.2(a) relates to settlement.

40.4

The times and dates for compliance with other contractual obligations where time is of the essence shall be extended to correspond with the extension of time to the Essential Obligation originally notified.

40.5

For the purposes of this Clause 40


(a)

Essential Obligation means any one of the obligations set out in Clauses 3.1, 4.1, 4.4, 4.6, 5, 7.1, 9.1, 9.2, 9.5 and 23.


(b)

Materially Adverse Event or MAE means a disaster as defined in section 13 of the Disaster Management Act 2003 or an event as defined in section 16(1)(a) of the Disaster Management Act 2003.


(c)

Relevant Party means a party to this contract prevented from carrying out an Essential Obligation as the direct result of a Materially Adverse Event for the Relevant Period.


(d)

Relevant Period means the time during which a Relevant Party is unable to carry out an Essential Obligation as a result of a Materially Adverse Event.

 

30 Jan 2012

AU-QLD-RE-PS-003 v9.7

AU-QLD-RE-PS-004 v10.7

Additions / Changes:


Item 19

(eg. Statutory Dealings; Unregistered Dealings; License; Security Interests)


Clause 1(15)

Encumbrance: means matters affecting title to the Property, both registered and un-registered, including statutory easements, and rights referred to in the Certificate of Title and personal property security interests as defined in Section 12 of the Personal Property Securities Act 2009(Cth).


Clause 5.8

Should the Buyer not obtain Finance Approval by the Finance Date and not given notice in accordance with under Clause 5.4, and then subsequently obtains Finance Approval and notifies the Seller prior to the Seller giving notice to terminate this Contract in accordance with Clause 5.5, then the Buyer will have complied with the requirement to obtain a loan in the Finance Amount and this Contract will be in full force and effect.


Clause 8.1

(1)

The Seller must maintain the Property in the condition as at the Date of Contract and must hand over the Property at Settlement without damage or loss to the condition as at the Date of Contract (fair wear and tear excepted).

(2)

and The Seller will not be liable for loss or damage to the Property Improvements on the Land unless caused by the Seller’s neglect or fault. Should there be damage or loss to the condition of the Property the Buyer may not delay Settlement or withhold monies.


Clause 8.5

The Buyer may claim from the Seller the reasonable costs of effecting rectification of any damage or failure to maintain the Property carry out repairs in relation to Clauses 8.1 and 8.2 and costs incurred in dealing with property not removed in accordance with Clause 8.3 as liquidated damages notwithstanding Settlement may have taken place.


Clause 9.2

On the Settlement Date the Buyer must, payment of the Balance Purchase Price, adjusted as provided in this Contract, by Bank Cheque/s (as directed by the Seller or its Solicitors in writing) and on compliance by the Buyer with the conditions of this Contract the Seller must deliver (or cause to be delivered) to the Buyer (or as directed by the Buyer):


Clause 9.2(2)

Transfer Documents free from of un-notified Encumbrances, unless detailed in Item (21), executed by the Seller in a form capable of immediate registration (save for stamping) in accordance with the Land Title Act 1994. Provided however; should the title documents with respect to the Land relate also to other land, the Seller shall produce the title document to allow registration of the transfer, cost of production will be borne by the Seller and costs in relation to any new title will be borne by the Buyer.


Clause 9.2(8)

in compliance with Clause 16, all documentation necessary to effect release of any Encumbrance over the Property, except as detailed in Item (19), including where applicable, property subject to a security interest to which the Personal Property Securities Act 2009 (Cth) applies.


Clause 9.2(10)

documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular, but not exclusively, those relating to prior transfers, tenancies, licenses, warranties, relevant certificates relating to pool safety compliance, noncompliance or exemption and any unregistered dealings and in so doing assigns to the Buyer the benefit of such tenancies, licenses and warranties.


Clause 14.1(6)

except as disclosed in Item (20)(a) and (20)(b), and excluding Applications and Orders under Section 83 of the NDRA disclosed as required by Clause 12.3, there will be no outstanding or unsatisfied applications, judgments, Work Orders, demands or writs with respect to any Act, Regulation or By-Law:

(a)

required to be complied with by the Seller which have not been fully complied with; or

(b)

which may adversely affect the Property or the Seller’s ability to complete this Contract; or

(c)

which may bind the Buyer


Clause 14.4

The Seller warrants as at the Date of Contract, unless disclosed prior to entering into this Contract in accordance with Section 83 of the NDRA (refer to details in Item (20)(b)), the Land is not subject to or affected by an Application or Order under Chapter 3 of the NDRA.


Clause 26.2

The Seller by this Contract consents to and authorises the Buyer to inspect the records of relevant authorities including body corporate and obtain any necessary certificates relating to the Land and/or Lot and Improvements. and chattels if any included in this sale.


Clause 33.1(2)

Provided however, where, at the date of this Contract, the Land is subject to an Application or Order under Chapter 3 of the NDRA and notice has been given in accordance with Section 83 of the NDRA the provisions of Clause 33.1(1)(a) will not apply.


Clause 32.7

Where the Seller has not by Settlement complied with Clause 33.1(1) or 33.6 and no adjustment has been made to the Purchase Price to compensate for such noncompliance, the Buyer may recover as a debt from the Seller, the costs incurred by the Buyer in effecting such compliance.

 

05 Dec 2011

AU-QLD-RE-PS-003 v9.6

AU-QLD-RE-PS-004 v10.6

Additions / Changes:


Instructions Sheet

Item G

By signing below I/we the Buyer/Buyer’s Agent acknowledges that, prior to signing the Proposed Relevant Contract, having I/we:

1.received, read and signed the PAMD Form 27c – Selling Agent’s Disclosure to Buyer;

2.received, read and signed the completed BCCM Section 206 – Disclosure Statement signed by the Seller or authorised person (accompanied by the current Community Management Statement for the Scheme)

3.   read this Instruction Page

4.   in the case of a Property with a Regulated Pool (Item 15.2(c) or Item 15.3(b)) where no Pool Safety Certificate is current, received a Form 36 - Notice of no pool safety certificate.


Item 11 Note

Note: This Item is not applicable where the Property is sold by Auction


Item 11

(a) Building Inspection:   Yes/No  

(b) Pest Inspection:    Yes/No  

(c) Pool Safety Inspection:   Yes/No (Applicable only if Item (15.2(c)) is ticked) (only answer ‘yes’ where Item (15.3)(c) is ticked)

 

Inspection Date:     …………………………………….………………………………..(Date to be completed by)

Note: If ‘yes’ is selected in Item (11)(a), (b) or (c), an Inspection Date must be inserted

 

Acknowledged Defects/ Exclusions:

.........................................................................................................................................................


Item 15

15.1

A Regulated Pool (Shared or Non Shared)forms part of the Property being sold or is on adjacent Regulated Land: __ Yes __ No

(if ‘yes’ complete Item (15.2) or Item (15.3) below) Note: If more than one Regulated Pool, details below must be completed in respect of each Regulated Pool. Place additional details in Special Conditions.

15.2

__ Non-shared Regulated Pool - for the Regulated Pool, at the Date of Contract, there is: (one box must be ticked)

__ (a) a current Pool Safety Certificate - Certificate No.: ……………           Expiry: …../….../……

__ (b) a current Form 17 - Final Inspection Certificate (issued for newly constructed or altered pools only)

__ (c) no current Pool Safety Certificate – Form 36 – Notice of no Pool Safety Certificate provided by the Seller (see Clause 4.3) (where Item 15.2(c) is ticked the Buyer must indicate an intention with respect to a Pool Safety Inspection in Item (11)(c))

15.3

__ Shared Regulated Pool (eg. owned by the Body Corporate) for the Shared Regulated Pool, at the Date of Contract, there is: (one box must be ticked)

__ (a) a current Pool Safety Certificate         Certificate No.: ……………           Expiry: …../….../……

__ (b) no current Pool Safety Certificate - Form 36 – Notice of no Pool Safety Certificate - provided


Item 20

(a)

1. Local Government / Statutory Authorities: …….……………………….…….   Date:.…/.…/…..

2. _________________________________:  …….……………………….…….   Date:.…/.…/…..

3. _________________________________:  …………………….……….…….   Date:.…/.…/…..

(b)

Copies of Applications or Orders given to the Buyer in accordance with Section 83 of the NDRA prior to the Date of Contract:

1. _________________________________:  …….……………………….…….   Date:.…/.…/…..

2. _________________________________:  …………………….……….…….   Date:.…/.…/…..


Item 28

By signing below I/we the Buyer/Buyer’s Agent acknowledges that, prior to signing the Proposed Relevant Contract, I/we have, having, where applicable, received a copies of any Application or Order in accordance with Section 83 of the Neighbourhood Disputes Resolution Act 2011 as more particularly set out in Item (20)(b). under Chp 3 of the Neighbourhood Disputes Resolution Act 2011.


Clause 1(22)

NDRA: means the Neighbourhood Disputes Resolution Act 2011.


Clause 4.1(2)

where Item (11)(c) applies, a report, satisfactory to the Buyer, that the Regulated Pool:


Clause 4.3

Where Item (15.3)(c) applies and there is no Pool Safety Certificate and the Buyer has indicated an their intention to obtain a Pool Safety Inspection in Item (11)(c), the Seller authorises the Buyer to appoint a licensed Pool Safety Inspector for the purposes of carrying out such inspection and to receive the results of such inspection.


Clause 4.4

The Buyer will be deemed satisfied where a Pool Safety Certificate issues on or before the Inspection Date.


Clause 4.7

In respect to Clause 4.4(b) and 4.6, this Contract is not terminated until written notice is given and the Buyer may at any time up to termination, by written notice, waive the benefit of Clause 4.4 or give notice in accordance with Clause 4.4(a), where upon this Contract will be in full force and effect.

However, with respect to Item (11)(c) Pool Inspection, a party may not terminate after receiving a Pool Safety Certificate.

Provided however, where a Pool Safety Certificate (Clause 4.1(2)(a)) has been issued, the Buyer will be deemed to be satisfied and may not terminate under Clause 4.4.


Clause 4.8

Where the Buyer has given notice of termination in accordance with Clause 4.4(b) but has failed, when requested by the Seller, to provide a copy of the relevant inspection report/s (or in the case of a Regulated Pool any Nonconformity Notice issued as a result of the Pool Safety Inspection), the termination will not take effect until after such copy has been provided to the Seller.


Clause 4.13

Clause 4 does not apply where the Property is sold by auction.


Clause 5.3

The Buyer must give notice to the Seller immediately upon approval/rejection of Finance in accordance with Clause 36 (Notice) and in any case, not later than the Finance Date.


Clause 5.7

This Contract is not terminated until notice is given in accordance with either Clause 5.4 or 5.5.


Clause 5.8

Should the Buyer not obtain Finance Approval by the Finance Date and not given notice under Clause 5.4, and then subsequently obtains Finance Approval and notifies the Seller prior to the Seller giving notice to terminate this Contract in accordance with Clause 5.5, then the Buyer will have complied with the requirement to obtain a loan in the Finance Amount and this Contract will be in full force and effect.


Clause 6.15

Where information regarding Outgoings, Rents and income details are not otherwise available, the Seller will, upon request, provide details from records in the Seller’s possession.


Clause 8.1

The Seller must hand over the Property at Settlement without damage or loss to the condition as at the Date of Contract (fair wear and tear excepted) and will not be liable for loss or damage to Improvements on the Lot unless caused by the Seller’s neglect or fault. Should there be damage or loss to the condition of the Property the Buyer may not delay Settlement or withhold monies.


Clause 8.6

With respect to Clauses 8.1 and 8.2 & 8.3, the Buyer must notify the Seller prior to Settlement, of its intention to make a claim.  A notice provided in accordance with Clause 8.4 and not complied with will satisfy this obligation.


Clause 9.2(9)

current copies of any other relevant documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular, but not exclusively, those relating to prior transfers, tenancies, licenses, warranties, relevant certificates relating to pool safety compliance, non compliance or exemption, Pool Safety Certificates and any unregistered dealings and in so doing assigns to the Buyer the benefit of such tenancies, licenses and warranties.


Clause 14.1(5)

and except as provided in Clause 14.4(b), the Seller has no knowledge of any legal actions affecting or which may affect the Land or the Property or any part of it.


Clause 14.1(6)

except as disclosed in Item (20)(a), and excluding Applications and Orders disclosed under Section 83 of the NDRA Neighbourhood Disputes Resolution Act 2011 disclosed as required by Clause 14.4(b), there will be no outstanding or unsatisfied judgments, Work Orders, demands or writs with respect to any Act, Regulation or By-Law, required to be complied with by the Seller which have not been fully complied with or which may adversely affect the Property or the Seller’s ability to complete this Contract.


Clause 14.2

It is acknowledged and agreed by the parties hereto that any building approval defect listed as a requisition in the local authority's building records does not constitute a Notice or an Work Order as contemplated by Clause 33.1


Clause 14.4

(a)

The Seller warrants as at the Date of Contract, unless disclosed prior to entering into this Contract in accordance with Section 83 of the NDRA (details in Item (20)(b)), Clause 14.4(b), the Seller warrants the Lot is not subject to or affected by an Application or Order under Chapter 3 of the NDRA. Neighbourhood Disputes Resolution Act 2011.

(b)

where the Lot is affected by an Application or Order under Chapter 3 of the Neighbourhood Disputes Resolution Act 2011 the Seller has, before entering into this Contract, provided a copy of the Application or Order, to the Buyer, insofar as is required by the Neighbourhood Disputes Resolution Act 2011.


Clause 14.9

If the warranty set out in Clause 14.4(a) is incorrect or is breached by the Seller, the Buyer may terminate the Contract at any time before the Contract settles by giving a signed, dated notice of termination to the Seller or the Seller’s Agent stating that the Contract is terminated under Section 86 of the NDRA Neighbourhood Disputes Resolution Act 2011.


Clause 20.2(c)

compliance with or application of any Government or local Government requirements or proposals, statutory or otherwise (including Transport Infrastructure and notice of intention to resume), with respect to the Lot Land or adjoining land will materially adversely affect the Property; or


Clause 26.1

The Seller must, if requested by the Buyer, prior to Settlement, provide to the Buyer current copies of all relevant documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those referred to in Clauses 9.2(4) and 9.2(9). relating to tenancies, licences, warranties, and any unregistered dealings.


Clause 33.1(2)

Provided however, where, at the date of this Contract, the Lot is subject to an Application or Order under Chapter 3 of the NDRA Neighbourhood Disputes Resolution Act 2011 and notice has been given in accordance with Section 83 of the NDRA Clause 14.4(b), the provisions of Clause 33.1(1) will not apply.


Clause 33.4

Subject to the Seller having complied with Section 83 of the NDRA Neighbourhood Disputes Resolution Act 2011, the Buyer must comply with any Work Orders affecting the Property issued subsequent to the Date of Contract that require compliance after Settlement.


Clause 33.6

No contribution will be payable by the Seller with respect to construction or repair of any dividing fences between the Lot and any adjoining land unless under the NDRA Neighbourhood Disputes Resolution Act 2011 a Notice to Contribute with respect to a dividing fence has been served on the Seller prior to the date of this Contract in which case compliance with such notice shall be the responsibility of the Seller.


Clause 33.9

Where, at the date of this Contract, the Lot is subject to an Application or Order under Chapter 3 of the NDRA Neighbourhood Disputes Resolution Act 2011 and notice has been given in accordance with Section 83 of the NDRA, the Buyer acknowledges, on entering into this Contract:

 

01 Nov 2011

AU-QLD-RE-PS-003 v9.5

AU-QLD-RE-PS-004 v10.5

Additions / Changes:


Instructions Sheet

Item G(2)

received, read and signed the completed BCCM Section 206 – Disclosure Statement signed by the Seller or authorised person (accompanied by the current Community Management Statement for the Scheme)


Item 14

Smoke alarms installed on the Property: __ Yes __ No


Item 16

Note: unless excluded, all Improvements are included        


Item 17

Note: includes all Improvements unless excluded in Item (16).


Item 28

By signing below I/we the Buyer/Buyer’s Agent acknowledge that, prior to signing the Proposed Relevant Contract, I/we have, where applicable, received a copy of any Application or Order under Chp 3 of the Neighbourhood Disputes Resolution Act 2011.


Clause 1(13)

Date of Contract: The date as set out in Item (1) of the Item Schedule unless otherwise specified.


Clause 1(19)

Item: means items detailed in the Item Schedule of this Contract


Clause 1(28)

Property: The Lot described in Item (6) together with Improvements described in Clause 1(18) and the included chattels described in Item (17) of the Item Schedule.


Clause 1(29)

Purchase Price: The sum referred to in Item (7) of the Item Schedule


Clause 1(40)

Work Order: a valid notice or order issued by a court, tribunal or other competent authority or notice served or issued in compliance with an Act or Regulation that requires work to be done, or monies spent, on or in relation to the Property.


Clause 4.4

Note to Buyer

Note to Buyer: Building Act 1975 - If no Pool Safety Certificate is received and the Contract proceeds to Settlement, it shall be the Buyer’s responsibility to, at its own cost, obtain such certificate within 90 days (the usual period) or such further period after Settlement where Section 246ATJ(2)(b) of the Building Act 1975 applies. The Buyer is referred to Section 4 of the Form 36.


Clause 5.4

If the Buyer, after complying with Clause 5.2, through no default on the Buyer’s part, has not obtained the Finance approval by the Finance Date then the Buyer may by giving notice to that effect to the Seller:

(a)

terminate this Contract; or

(b)

prior to the Seller terminating the Contract, waive the benefit of this condition


Clause 6.12

The Seller may direct the Buyer to provide on Settlement a cheque payable to the relevant authority for Outgoings assessed but unpaid at the Adjustment Date. It shall be the Buyer's responsibility to forward such cheque to the relevant assessing authority forthwith. This will be an adjustment for the purposes of Clause 6.1.


Clause 14.1(5)

and except as provided in Clause 14.4(b), the Seller has no knowledge of any legal actions affecting or which may affect the Land or the Property.


Clause 14.1(6)

except as disclosed in Item (20) and excluding Applications and Orders disclosed under Section 83 of the Neighbourhood Disputes Resolution Act 2011 as required by Clause 12.3(b), there will be are no legal actions including outstanding or unsatisfied judgments, Work Orders, demands or writs with respect to any Act, Regulation or By-Law, required to be complied with by the Seller which have not been fully complied with affecting or which may adversely affect the Property or the Seller’s ability to complete this Contract. any part of it.


Clause 14.1(7)

the Seller has complied with the requirements of the Residential Tenancies and Rooming Accommodation Act 2008 with respect to the Tenancies as set out in Item (18.1) of the Item Schedule.


Clause 14.1(8)

the details set out in Item (18.2) of the Item Schedule are correct and the Seller has caused notice of sale of the Property to be given to the Managing Agent mentioned in Item (18.3).


Clause 14.1(10)

the Seller has complied with Division 5A of the Fire and Rescue Service Act 1990 with respect to smoke alarms.

Note: From the 1st July 2007 owners of all houses and units (domestic dwellings) in Queensland must install and maintain smoke alarms in compliance with the Fire and Rescue Service Act 1990 as amended.


Clause 14.4

(a)

unless disclosed prior to entering into this Contract in accordance with Clause 14.4(b), the Seller warrants the Lot is not subject to or affected by an Application or Order under Chapter 3 of the Neighbourhood Disputes Resolution Act 2011.

(b)

where the Lot is affected by an Application or Order under Chapter 3 of the Neighbourhood Disputes Resolution Act 2011 the Seller has, before entering into this Contract, provided a copy of the Application or Order, to the Buyer, insofar as is required by the Neighbourhood Disputes Resolution Act 2011.


Clause 14.9

If the warranty set out in Clause 14.4(a) is incorrect or is breached by the Seller, the Buyer may terminate the Contract at any time before the Contract settles by giving a signed, dated notice of termination to the Seller or the Seller’s Agent stating that the Contract is terminated under Section 86 of the Neighbourhood Disputes Resolution Act 2011.


Clause 15

Foreign Investment Approval Buyer Warrants

The Buyer warrants:

(a)

It is not required to obtain consent to this purchase under the Foreign Acquisitions and Takeovers Act 1975; or

(b)

It has obtained any and all consents under the Foreign Acquisitions and Takeovers Act 1975 to this purchase.


Clause 20.2(c)

compliance with or application of any proposals, notices or requirements of an authorised authority, statutory or otherwise, (including transport infrastructure and notice of intention to resume) with respect to the Land or adjoining land will materially adversely affect the Property; or


Clause 20.2(e)

the Land or part of it is declared as acquisition land under the Queensland Reconstruction Authority Act 2011.


Clause 30

Any Special Conditions to this Contract shall form part of this Contract. Should there be any inconsistency between the Terms and Conditions or any additional conditions and the Special Condition the Special Condition shall apply


Clause 33

Work Orders and Notices

33.1

(1)

The Seller must, by Settlement, comply with any Work Orders or Notices affecting the Property: issued by a competent authority on, before or subsequent to the Date of Contract that require compliance by Settlement.

 

(a)

issued on or before the Contract Date; or

(b)

requiring compliance by Settlement

(2)

Provided however, should the Buyer direct the Seller not to carry out the works, the Buyer will indemnify the Seller against any claims in respect of such Work Orders or Notices.

(2)

Provided however, where, at the date of this Contract, the Land is subject to an Application or Order under Chapter 3 of the Neighbourhood Disputes Resolution Act 2011 and notice has been given in accordance with Clause 14.4(b), the provisions of Clause 33.1(1) will not apply.

33.2

The Seller will promptly provide the Buyer with copies of all Work Orders received after the Date of Contract

33.3

Should the Buyer direct the Seller not to expend monies or carry out the works required by such Work Orders, the Buyer will indemnify the Seller against any claims in respect thereof

33.4

Subject to the Seller having complied with Section 83 of the Neighbourhood Disputes Resolution Act 2011, the Buyer must comply with any Work Orders or Notices affecting the Property issued by a competent authority subsequent to the Date of Contract that require compliance after Settlement

33.5

Costs incurred by one party in complying with any Work Order or Notice which, under Clause 33.1, is the responsibility of the other party shall be, to the extent of such costs, an Adjustment to the Purchase Price in favour of the party who has incurred the costs.

33.6

No contribution will be payable by the Seller with respect to construction or repair of any dividing fences between the Lot and any adjoining land unless under the Neighbourhood Disputes Resolution Act 2011 a Notice to Contribute with respect to a dividing fence has been served on the Seller prior to the date of this Contract in which case compliance with such notice shall be the responsibility of the Seller

33.7

Where the Seller has not by Settlement complied with Clause 33.1(1) or 33.6 and no adjustment has been made to the Purchase Price to compensate for such non compliance in respect of such works, the Buyer may recover as a debt from the Seller, the costs incurred by the Buyer in effecting such compliance carrying out necessary works.

33.5

The Buyer shall bear all costs towards construction or repair of any dividing fences between the Land and any adjoining land, unless a Notice served under the provisions of Section 8 of the Dividing Fences Act 1953 is in force as at the date of this Contract, in which case such Notice shall be treated in the same manner as a Notice referred to in Clauses 33.1and 33.3

33.6

In accordance with Clause 33.1 the Seller will forthwith provide the Buyer with copies of all Work Orders and Notices (including those under the Dividing Fences Act 1953) received after the Date of Contract and will not carry out any work without written consent of the Buyer which consent will not be unreasonably withheld

33.8

Should the Contract not settle other than through default of the Buyer, the Seller will reimburse to the Buyer any monies reasonably expended by the Buyer in accordance with matters disclosed in Item (20).

33.9

Where, at the date of this Contract, the Land is subject to an Application or Order under Chapter 3 of the Neighbourhood Disputes Resolution Act 2011, the Buyer acknowledges, on entering into this Contract:

(1)

the Buyer will be joined as a party to proceedings relating to the Application; and

(2)

on Settlement, will be bound by the Order to the extent the Seller has not carried out the work required under the Order.


Clause 36.1(c)

by posting it to the party, by ordinary mail or security registered mail as a letter addressed to the party at the address as stated in Item (3) or (5); or

 

15 Jun 2011

AU-QLD-RE-PS-003 v9.4

AU-QLD-RE-PS-004 v10.4

Additions / Changes:


Important Instructions Item G(2)

received, read and signed the BCCM Section 206 – Disclosure Statement (accompanied by the current Community Management Statement for the Scheme)


Clause 2(5)

Column notes in the Item Schedule and any attached addendum pages and annexures shall form part of this Contract.


Clause 11

11.1

The Seller must give to the Buyer forthwith upon receipt from the Body Corporate, give the Buyer copies of any notices from (including resolutions) or resolutions passed received from by the Body Corporate or any new or amended community management statement recorded for the Scheme received after the Date of Contract.

11.2

The Buyer may terminate this Contract by written notice to the Seller if, after the Date of Contract but prior to Settlement, any action taken, or resolution passed or difference in any new or amended community management statement (particulars of which have not been disclosed to the purchaser prior to the signing of this Contract) by the Body Corporate, after the Date of Contract, constitutes a material breach of any matters contained in Item (25) of this Contract would materially prejudice the Buyer if compelled to complete the Contract.

11.3

Notice of termination must be given to the Seller within 14 days after the Seller gives the Buyer the information set out in Clause 11.1 hereof.

11.3

Nothing in this Contract precludes the Buyer from terminating this Contract under the provisions of Section 224 of the BCCMA.



Clause 13.4

Should the Seller fail to provide information as required by Clause 11.1 before Settlement, the Buyer may sue the Seller for damages.


Clause 14

Seller’s Warranties / Buyer's Right to Rescind

14.1

The Seller warrants, unless otherwise disclosed in this Contract, that at the time of Settlement:


(1)

the Seller will be the Registered Owner of an estate in fee simple in the Lot.


(2)

it is the owner of all the Property


(3)

there is no impediment to the Seller completing the sale.


(4)

the Seller is not insolvent or bankrupt


(5)

there are no legal actions including unsatisfied judgments, Orders or writs affecting or which may affect the Property or any part of it.


(6)

there are no outstanding or unsatisfied Notices, Orders or demands with respect to any Act, Regulation or By-Law, required to be complied with by the Seller pursuant to Clause 33.1, which have not been fully complied with or which may adversely affect:



(a)

the Property, unless disclosed in Item (20); or



(b)

the Seller’s ability to complete this Contract.


(7)

the Seller has complied with all relevant environmental legislation in respect to the Property. The Land is not subject to notice or order under the Environmental Protection Act 1994, nor are particulars of the Land recorded under the Environmental Management Register or Contaminated Land Register.


(6)

the Seller has complied with the requirements of the Residential Tenancies and Rooming Accommodation Act 2008 with respect to the Tenancies as set out in Item (18.1) of the Item Schedule.


(7)

the details set out in Item (18.2) of the Item Schedule are correct and the Seller has caused notice of sale of the Property to be given to the Managing Agent mentioned in Item (18.3).


(8)

any Improvements to the Property not excluded in Item (16) will not have been removed by the Seller.


(9)

the Seller has complied with Division 5A of the Fire and Rescue Service Act 1990 with respect to smoke alarms.


(10)

in the case of vacant land, the Property has been provided with a separate sewerage connection, unless otherwise disclosed in Item (27) (Special Conditions). This clause shall not apply to Property where other disposal systems are required and permissible by the local authority or council.


(10)

in respect to a non-shared Regulated Pool on the Property, where there is a current Pool Safety Certificate, no alterations or additions have been made to the non-shared Regulated Pool/s or its surrounds prior to Settlement which would affect the Pool Safety Certificate/s.


(11)

the Seller has complied with all relevant environmental legislation in respect to the Property. The Land is not subject to notice or order under the Environmental Protection Act 1994, nor are particulars of the Land recorded under the Environmental Management Register or Contaminated Land Register.

14.2

It is acknowledged and agreed by the parties hereto that any Building approval defect listed as a requisition in the local authority's building records does not constitute a Notice or an Order as contemplated by Clause 36.1.

14.3

The Seller warrants at the Date of Contract, unless otherwise disclosed in Item (26):


(1)

the correct community management statement for the Scheme provided prior to signing this Contract is in full force of effect and except as otherwise disclosed in this Contract, there is no proposed change or Body Corporate meeting called proposing any change, or resolution in respect to current community management statement. ;or


(2)

there are no impediments registered or unregistered with respect to or affecting indefeasibility of common property or Body Corporate assets. ;or


(3)

the Scheme community management statement is complete in its allocations with respect to details affecting the Lot, and/or the registered owner. ;or


(4)

improvements to the common property and exclusive use rights which benefit the Lot or the registered owner are current and have all necessary consents, approvals and by-laws from the Body Corporate.


(5)

the information contained in Item (22) is correct


(6)

the information contained in Item (25) is correct.

14.4

If a warranty set out in Clause 14.1 (1) to (6) (excluding matters disclosed in Item (20) or Item (27)) is incorrect or is breached by the Seller, the Buyer may by notice to the Seller, terminate this Contract.

14.5

If the warranty set out in Clause 14.1(6) to (11) is incorrect or is breached by the Seller, the Buyer may by notice to the Seller given within 14 days after the Buyer’s copy of the Contract is received by the Buyer:


(a)

forthwith terminate this Contract; or


(b)

elect to complete this Contract and reserve its rights to claim compensation.

14.6

If a warranty set out in Clause 14.3 (1) to (5) (excluding matters disclosed in Item (26)) is incorrect or is breached by the Seller, the Buyer may by notice to the Seller given prior to Settlement, where the Buyer would be materially prejudiced if compelled to complete the Contract:


(a)

forthwith terminate this Contract; or


(b)

elect to complete this Contract and reserve its rights to claim compensation providing notice to this effect has been given to the Seller in writing at or prior to Settlement.

14.7

If the warranty set out in Clause 14.3(6) is incorrect or is breached by the Seller the Buyer may by notice to the Seller given within 14 days after the Buyer’s copy of the Contract is received by the Buyer, terminate this Contract.

14.4

If a warranty set out in:


(1)

Clause 14.1 (excluding matters disclosed in Item (20) with relation to Clause 14.1 (6) or disclosed in Item (27))


(2)

Clause 14.3 (excluding matters disclosed in Item (26) is incorrect or is breached by the Seller, the Buyer may:



(a)

where the Buyer is materially prejudiced, by notice to the Seller given not later than 5pm on the Business Day immediately preceding the Settlement Date, rescind this Contract; or



(b)

elect to complete this Contract and reserve its rights to claim, compensation providing notice to this effect has been given to the Seller in writing at or prior to Settlement.

14.8

Any notice of termination given to the Seller under Clause 14.4, 14.5, 14.6 or 14.7 must set out clearly, details of the incorrect or breached warranty.

14.9

Nothing in this Contract precludes the Buyer from terminating this Contract under the provisions of Section 224 of the BCCMA.


Clause 35

Should any court or tribunal of competent jurisdiction determine any term, provision or obligation of this Contract to be void, illegal or unenforceable by law, that term, provision or obligation must be read down to the extent possible or will be removed from the Contract whilst keeping and will not effect the operation of the remainder of the Contract in effect.


Clause 38.1

The parties agree and confirm documents may be forwarded electronically to a person if the recipient that person has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Contract.


Clause 39

39.1

The Agent collects and uses personal information obtained provided by from you (all parties) as a party to this Contract to provide the services required by you or on your behalf.

39.2

You as a party to this Contract agree the Agent may subject to the Privacy Act 1988 (CTH) for (where applicable) collect, use and disclose such personal information to: in accordance with and subject to the Privacy Act 1988 (CTH) for (where applicable):


(1)

third parties as may be required by the Agent for the purposes of marketing, sales promotion and administration relating to the use of the Agent’s products and services and complying with legislative and regulatory requirements; and/or


(2)

data collection agencies

39.3

Without provision of certain information the Agent may not be able to act effectively or at all on your behalf.

39.4

The parties have the right to access request the Agent provide details of such personal information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information. also correct any inaccurate or out of date information.

39.5

The Agent may from time to time provide information to a data collection agency such as RP Data Limited. Data collection agencies provide information to the real estate, finance and valuation industries to enable accurate valuations of properties.

 

29 Apr 2011

AU-QLD-RE-PS-003 v9.3

AU-QLD-RE-PS-004 v10.3

Changes made to the attached BCCM Form 14 as per Body Corporate and Community Management Act

 

20 Dec 2010

AU-QLD-RE-PS-003 v9.2

AU-QLD-RE-PS-004 v10.2

Additions / Changes:


Clause 1(19)

ITAA: refers to the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997.


Clause 4.7

In respect to Clause 4.4 and 4.6, this Contract is not terminated until written notice is given and the Buyer may at any time up to termination, by written notice, waive the benefit of Clause 4.4.

Provided however, where a Pool Safety Certificate (Clause 4.1(2)(a)) has been issued, the Buyer will be deemed to be satisfied and may not terminate under Clause 4.4.


Clause 14.1(13)

in respect to a non-shared Regulated Pool on the Property, where there is a current Pool Safety Certificate, no alterations or additions have been made to the non-shared Regulated Pool/s or its surrounds prior to Settlement which would affect the Pool Safety Certificate/s.


Clause 21(b)

Sections 246AG affecting the Lot (show cause notice – cancellation), 247 (show cause notice) or 248 (enforcement notice) of the Building Act 1975.

 

01 Dec 2010

AU-QLD-RE-PS-003 v9.1

AU-QLD-RE-PS-004 v10.1

Additions / Changes:


Instructions Sheet

Item G(4)

in the case of a Property with a Regulated Pool (Item 15.3(c) or Item 15.5(b)) where no Pool Safety Certificate is current, received a Form 36 - Notice of no pool safety certificate.


Item 11

(a) Building Inspection:   Yes/No  

(b) Pest Inspection:    Yes/No  

(c) Pool Safety Inspection to be included in the inspection:   Yes/No (only answer ‘yes’ where Item (15.3)(c) is ticked)

Inspection Date:  ……………………………………………………….. (Date to be completed by)

Note: If ‘yes’ is selected in Item (11)(a), (b) or (c), an Inspection Date must be inserted

Acknowledged Defects/ Exclusions:

.......................................................................................................................................


Item 13

An Approved electricity Safety power Switch   __ is   __ is not    installed for general purpose socket outlets.

(The Electrical Safety Regulation 2002 requires the transferor of land on which a domestic residence is constructed to give notice of whether a safety switch has been installed. If one is not installed, then within 90 days from the date of possession, the new owner of the land must install a safety switch.) A licensed Electrician can advise in relation to this requirement.


Item 14

Smoke alarms are/are not installed on the Property.

{From the 1st July 2007 owners of all houses and units (domestic dwellings) in Queensland must install and maintain smoke alarms in compliance with the Fire and Rescue Service Act 1990 as amended.}


Item 15

Tick the applicable option below:

Note: If Item (15.1), (15.2), (15.3)(a) or (b), (15.4) or (15.5)(a) or (b)  is ticked below, ‘no’ is the answer to Item (11)(c)

15.1

__  No Shared or Non shared Regulated Pool on the Land or included as part of the Property being sold.

15.2

__  Non-shared Regulated Pool included as part of the Property being sold or on Regulated Land adjacent thereto.

Note: If more than one Regulated Pool Item 15.3 must be completed in respect of each Regulated Pool. Place additional details in Special Conditions.

15.3

If  Item (15.2) is ticked, at the date of the Contract in respect to such Regulated Pool/s there is a: (one of the boxes below must be ticked)

__  (a) Current Pool Safety Certificate     Certificate No.: ……………..   Expiry Date: …../….../……

__  (b) Current Form 17 - Final inspection certificate (issued for newly constructed pools only)

__  (c) Form 36 – Notice of no pool safety certificate (see Clause 4.3) (where there is a Notice of no Pool Safety Certificate the Buyer must indicate their intention to carry out a Pool Safety Inspection in Item (11)(c)).

15.4

__ Shared Regulated Pool (eg. owned by the Body Corporate) on the Land or on Regulated Land adjacent thereto.

15.5

If  Item (15.4) is ticked, at the date of the Contract, in respect to such shared Regulated Pool there is a:(one of the boxes below must be ticked)

__  (a) Current Pool Safety Certificate     Certificate No.: ……………..   Expiry Date: …../….../……

__  (b) Form 36 – Notice of no pool safety certificate


Clause 1(2)

Approved Safety Switch: defined as a residual current device under Schedule 9 of the Electrical Safety Regulation 2002.

Note: Where an Approved Safety Switch is not installed, advice should be obtained from a licensed electrician to ensure compliance with the Electrical Safety Regulation 2002.


Clause 1(22)

New Pool Safety Standard: means the compliance standard applicable under the Building Act 1975 to a Regulated Pool from the earlier of the 30th November 2015 or the date a property is sold or leased.


Clause 1(23)

Nonconformity Notice:  means the Pool Safety Nonconformity Notice (Form 26) issued where the Pool Safety Inspector is not satisfied the pool complies with the New Pool Safety Standard.


Clause 1(25)

Pool Safety Certificate: means the certificate issued under the Building Act 1975 with respect to a complying Regulated Pool.


Clause 1(26)

Pool Safety Standard: means the compliance standard applicable to the Regulated Pool at the time the pool was constructed.


Clause 1(30)

Regulated Land:  means regulated land as defined under Section 231A of the Building Act 1975


Clause 1(31)

Regulated Pool:  Where used in this Contract has the same meaning as given to it by Section 231B of the Building Act 1975.

Note: a Regulated Pool is a swimming pool as defined under the Building Act 1975 which will include a spa pool.


Clause 4

Note: reference to Pool Safety Inspections only applies where Item (15.3)(c) is ticked and applicable.

4.1

The Contract is subject to and conditional upon the Buyer obtaining, at their own expense, by the Inspection Date (or such extended date as may be agreed) the relevant inspection report/s: specified in Item (11), a building and/or pest report, satisfactory to the Buyer, excluding Acknowledged Defects/ Exclusions:


(1)

as specified in Item (11)(a) &(b) (excluding Acknowledged Defects / Exclusions)  satisfactory to the Buyer; and


(2)

where Item (11)(c) applies, report that the Regulated Pool:



(a)

complies with the New Pool Safety Standard (Pool Safety Certificate Issued); or



(b)

does not comply with the New Pool Safety Standard (Nonconformity Notice given).

4.2

In compliance with this Clause the Buyer will promptly, after the signing of this Contract by the Seller, take all reasonable steps to obtain the inspection report/s in compliance with Clause 4.1. building and/ or pest report.

4.3

Where Item (15.3)(c) applies and there is no Pool Safety Certificate and the Buyer has indicated their intention to obtain a Pool Safety Inspection in Item (11)(c), the Seller authorises the Buyer to appoint a licensed Pool Safety Inspector for the purposes of carrying out such inspection and to receive the results of such inspection.

4.4

Upon receipt of any inspection report, the Buyer must promptly, but no later than 5pm on the Inspection Date, give notice to the Seller:


(a)

that the Buyer is satisfied with the inspection report/s; or


(b)

that the Buyer is not satisfied with the inspection report/s and terminates the Contract.


The Buyer may waive the benefit of this condition at any time prior to termination of the Contract.


Note to Buyer: Building Act 1975 - If no Pool Safety Certificate is received and the Contract proceeds to Settlement, it shall be the Buyer’s responsibility to, at its own cost, obtain such certificate within 90 days after Settlement.  The Buyer is referred to Section 4 of the Form 36.


Note to Seller: Where a Pool Safety Inspection has been carried out resulting in a Nonconformity Notice issuing and the Contract does not proceed to Settlement, the local authority may require the pool owner, at its cost, to carry out works to comply with the relevant Pool Safety Standard.

4.5

The Buyer must at all times act reasonably.

4.6

Should the Buyer not give notice to the Seller in accordance with Clause 4.4 by 5.00 p.m. on the Inspection Date the Seller may, by notice, terminate this Contract.

4.7

This Contract is not terminated until notice is given. In respect to Clause 4.4 and 4.6, this Contract is not terminated until written notice is given and the Buyer may at any time up to termination, by written notice, waive the benefit of Clause 4.4.

Provided however, where a Pool Safety Certificate has been issued, the Buyer will be deemed to be satisfied and may not terminate under Clause 4.1(2)(a).

4.8

Where the Buyer has given notice of termination in accordance with Clause 4.4 but has failed, when requested by the Seller, to provide a copy of the relevant inspection report/s (or in the case of a Regulated Pool any Nonconformity Notice issued as a result of the Pool Safety Inspection), the termination will not take effect until after such copy has been provided to the Seller.

4.9

All monies paid by way of Deposit will be forthwith refunded to the Buyer once this Contract is terminated in accordance with this clause. Should this Contract be terminated in accordance with the provisions of Clause 4, Clause 3.6 will apply.

4.10

In respect of white-ants, risk in itself will not constitute a reason for termination of this Contract.

4.11

Inspectors who conduct building inspections for the purposes of this Contract must be specifically licensed as Building Inspectors in accordance with the Queensland Building Services Authority Act 1991.

4.12

Inspectors who conduct Pool Safety Inspections for the purposes of this Contract must be licensed as Pool Safety Inspectors by the Pool Safety Council.


Clause 9.2(9)

documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those relating to tenancies, licenses, warranties, Pool Safety Certificates and any unregistered dealings and in so doing assigns to the Buyer the benefit of such tenancies, licenses and warranties.

 

13 Oct 2010

AU-QLD-RE-PS-004 v10.0

Additions / Changes:


Instructions Sheet

Item G 'Buyer's Acknowledgement' added to the 'Instructions Sheet'

 

01 Oct 2010

AU-QLD-RE-PS-003 v9.0

AU-QLD-RE-PS-004 v9.9

Additions / Changes:


Cover Page / Statement

The 'Cover Page / Statement' was removed from AU-QLD-RE-PS-004


Instructions Sheet

The 'Instructions Sheet' was added to AU-QLD-RE-PS-004


PAMD Form 30c

Changes made to the attached PAMD Form 30c as per Office of Fair Trading


BCCM Form 14

Changes made to the attached BCCM Form 14 as per Office of Fair Trading


Item 26 Note

The Special Conditions are inserted under instruction from a party to this Contract and where not prepared by that party, were prepared by an Australian Legal Practitioner and not the Agent.  No legal advice has been given or warranty provided by the Agent.  Legal advice should be sought.

Special Conditions:

(a) Were inserted under instruction by a party to this Contract; and/or

(b)  Precedents used by the Agent as Special Conditions were prepared by an Australian Legal Practitioner, not by the Agent who gives no warranty in respect of same and in accordance with the warning in Item (27), legal advice should be sought as to the meaning and effect of such Special Conditions before signing.


Item 27 Note

(The Buyer, in signing this Contract, acknowledges having read and signed PAMD Form 30c attached to this Contract as the first sheet , unless not applicable)


Item 27 Warning

WARNING: By signing this Contract the parties confirm that no legal advice as to the conditions contained herein was provided by the Agent. The parties also agree that any Special Conditions or Clauses were inserted at the specific request of the relevant parties and the Agent gave no legal advice about same.

The parties have been advised to seek legal advice with respect to this Contract. , including Special Conditions.


Clause 1(12)

Date of Contract: The date as set out in Item (1) of the Item Schedule. The date the Contract becomes binding on the Buyer and Seller, as detailed in the Warning notes of PAMD Form 30c is not necessarily, for the purposes of this Contract, the Date of Contract.


Clause 38.1

The parties agree and confirm documents may be forwarded electronically to a person if that person has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Contract.

 

10 Sept 2010

AU-QLD-RE-PS-003 v8.9

AU-QLD-RE-PS-004 v9.8

Additions / Changes:


Clause 7.2

Upon compliance by the Buyer with the provisions of this Contract and where the Seller is legally represented, the Seller will upon request and (payment by the Buyer of the Seller's reasonable legal expenses), the Seller will upon request, produce the Transfer Documents (prior to Settlement or payment of the Balance Purchase Price) for the purposes of assessment and payment of transfer duty.


Clause 7.3

It is agreed to by the parties hereto that the Buyer shall be under no obligation to pay any production fee to the Seller pursuant to Clause 7.2 if the Seller is not represented by a solicitor.

 

01 Jul 2010

AU-QLD-RE-PS-003 v8.8

AU-QLD-RE-PS-004 v9.7

Additions / Changes:


Clause 1(20)

Land Tax Clearance Certificate: A certificate issued by the Commissioner of Land Tax that describes the land charged, and showing whether or not any land tax remains unpaid on the land described in the application and where land tax remains unpaid, the amount thereof. (Section 37 (1A) of the Land Tax Act 2010)


Clause 3.7(5)

where the Contract does not proceed to Settlement, the interest is payable to the party entitled to the Deposit in accordance with Clauses 3.5 and 3.6.


Clause 4.3

Upon receipt of any Inspection Report the Buyer must promptly but no later than 5pm on the Inspection Date, give notice to the Seller:

(a)

that the Buyer is satisfied with the Inspection Report; or

(b)

that the Buyer is not satisfied with the Inspection Report and terminates the Contract.

The Buyer may waive the benefit of this condition at any time prior to termination of the Contract.

If any inspection report specified in Clause 4.1 is not satisfactory to the Buyer, the Buyer must, promptly upon receipt of the inspection report, give notice to the Seller terminating this Contract. The Buyer may however, waive the benefit of this condition at any time prior to termination of the Contract.


Clause 4.5

Should the Buyer not give notice to the Seller in accordance with Clause 4.3 by 5.00 p.m. on the Inspection Date the Seller may, by notice, terminate this Contract. Buyer will be deemed to be satisfied with the Inspections.


Clause 4.6

This Contract is not terminated until notice is given.


Clause 6.2

All Outgoings paid and, Rents and Income received, (including post Settlement reassessments), by either party must be apportioned based on the Adjustment Date and paid or received at Settlement or as otherwise appropriate. This excludes water rates charges based on usage. Payment must be made within 14 days of monies being received.


Clause 6.3

All Rents and Income received by the Seller in relation to periods subsequent to the Adjustment Date must be apportioned between the parties as at the Adjustment Date.


Clause 6.7

Any amount, other than Land Tax, adjustable under this provision which relates to lots other than that included in the Property shall be (where no specific assessment is issued) adjusted.


Clause 6.8(1)

Should the Commissioner of Land Tax not have issued a Land Tax Clearance Certificate to the Buyer by the Adjustment Date, then in such case the parties agree the Buyer will retain in his Solicitor’s Trust Account such sum, from the settlement monies, as the Commissioner of Land Tax specifies in writing would be prudent to cover any land tax liability outstanding for the period up to and including 30th June immediately preceding the Adjustment Date.  

And, Upon a Land Tax Clearance Certificate issuing, the Buyer undertakes and agrees to direct the Solicitor to pay from the funds held in the Trust Account so much of those funds as may be necessary to obtain for the Buyer a Land Tax Clearance Certificate.  Any balance funds remaining shall be paid to the Seller.

This obligation is a continuing obligation and does not lapse at Settlement.


Clause 7

7.1

The Buyer will have delivered to the Seller, at a reasonable time before Settlement for execution by the Seller, Transfer Documents for the Lot and any assignment or other document reasonably necessary for Settlement of this Contract.

7.2

Upon compliance by the Buyer with the provisions of this Contract and where the Seller is legally represent, the Seller will upon request and payment by the Buyer of the Seller's reasonable legal expenses, produce the Transfer Documents (prior to Settlement or payment of the Balance Purchase Price) for the purposes of payment of transfer duty.


Clause 8

8.1

The Seller must hand over the Property at Settlement without damage or loss to the condition, as at the Date of Contract (fair wear and tear excepted). Should there be damage or loss to the condition of the Property the Buyer may not delay Settlement or withhold monies.

8.2

The Seller will, prior to Settlement, remove all chattels and other property not included in the sale, and repair damage, if any, caused by such removal.

8.3

Property not removed in accordance with Clause 8.2 shall be deemed abandoned and may be dealt with by the Buyer in any way the Buyer considers appropriate without obligation to account to the Seller.

8.4

Where the Seller has not satisfied its obligations under Clauses 8.1, 8.2 & 8.3 the Buyer may serve a notice on the Seller giving details of the failure to comply and requiring rectification prior to Settlement.

8.5

The Buyer may claim from the Seller the reasonable costs of effecting rectification of any damage or failure to carry out repairs in relation to Clauses 8.1 and 8.2 and costs incurred in dealing with property not removed in accordance with Clause 8.3 as liquidated damages notwithstanding Settlement may have taken place.

8.6

With respect to Clauses 8.1, 8.2 & 8.3, the Buyer must notify the Seller prior to Settlement, of its intentions to make a claim.  A notice provided in accordance with Clause 8.4 and not complied with will satisfy this obligation.

8.7

Where a dwelling house which forms part of the Property the subject of this Contract is before the date of possession or completion, whichever earlier occurs, so destroyed or damaged as to be unfit for occupation as a dwelling house, the Buyer may, at the Buyer’s option, rescind the Contract by notice in writing given to the Seller or the Seller’s solicitor not later than the date of completion or possession whichever the earlier occurs.


Clause 9.2(6)

Rents and Income unpaid for any period prior to the Settlement Date and not adjusted between the parties at Settlement is not assigned to the Buyer but remains a debt due to the Seller in which case the provisions relating to Rent of Section 117 of the Property Law Act 1974 are not applicable.


Clause 9.2(9)

documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those relating to tenancies, licenses, warranties and any unregistered dealings and in so doing assigns to the Buyer the benefit of such tenancies, licenses and warranties.


Clause 12.1

If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract.


Clause 12.4

Damages will include:

(1)

professional fees and costs incurred to satisfy the terms of this Contract.

(2)

legal costs on an indemnity basis.


Clause 13

13.1

If the Seller is in default under this Contract then, providing the Buyer is not in default, the Buyer may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Seller specifying the default, terminate or affirm this Contract.

13.2

Should the Buyer affirm this Contract the Buyer may, without prejudice to any other rights, sue the Seller for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract.

13.3

Should the Buyer terminate this Contract the Buyer may, without prejudice to any other rights:


(1)

recover from the Seller/ Stakeholder the Deposit and any other monies paid by the Buyer under the Contract.


(2)

the Buyer will be entitled to any interest earned on a Deposit invested in accordance with Clause 3.7.


(3)

the Buyer, in addition is entitled to claim interest on any monies paid by the Buyer under the Contract (other than the Deposit) at the rate prescribed in Item (20) to be calculated from and including the date of payment by the Buyer up to, but excluding the date on which the money is repaid.


(4)

sue the Seller for damages.

13.4

Damages will include:


(1)

professional fees and costs incurred to satisfy the terms of this Contract.


(2)

legal costs on an indemnity basis.


Clause 14.1(7)

the Seller has complied with all relevant environmental legislation in respect to the Property. The Land is not subject to any notice or order under the Environmental Protection Act 1994, nor are particulars of the Land recorded under the Environmental Management or Contamination Land Register.


Clause 20.1

As far as the Seller is aware, the Present Use of the Property is legal but the Seller gives no warranty in respect thereof. The Seller gives no warranty regarding the Present Use of the Property.


Clause 23

Should the Contract be terminated in accordance with Clause 23(a), all monies by way of Deposit shall be refunded to the Buyer.


Clause 24

Should the Contract be terminated in accordance with Clause 24(a), all monies by way of Deposit shall be refunded to the Buyer.


Clause 33.4

Where the Seller has not by Settlement complied with Clause 33.1(1) and no adjustment has been made to the Purchase Price in respect of such works, the Buyer may recover as a debt from the Seller, the costs incurred by the Buyer in carrying out necessary works.


Clause 33.5

The Buyer shall bear all costs towards construction or repair of any dividing fences between the Land and any adjoining land, unless a Notice served under the provisions of Section 8 of the Dividing Fences Act 1953, Section 8, is in force as at the date of this Contract, in which case such Notice shall be treated in the same manner as a Notice referred to in Clauses 33.1and 33.3.


Clause 35

Should any court or tribunal of competent jurisdiction determine any term, provision or obligation of this Contract to be void, illegal or unenforceable by law, that term, provision or obligation will be removed from the Contract and will not effect the operation of the remainder of the Contract.

 

04 Jan 2010

AU-QLD-RE-PS-003 v8.7

AU-QLD-RE-PS-004 v9.6

Changes to BCCM Form 14 due to government department change

 

18 Dec 2009

AU-QLD-RE-PS-003 v8.6

AU-QLD-RE-PS-004 v9.5

Additions / Changes:


Clause 12.1(12)

the Seller has complied with the Division 5A of the Fire and Rescue Service Amendment Act 1990 2006 with respect to smoke alarms.


Clause 13

(a)

It is not required to obtain consent to this purchase under the Foreign Acquisitions and Takeovers Act 1975; or

(b)

It has obtained any and all consents under the Foreign Acquisitions and Takeovers Act 1975 to this purchase.


Clause 19(a)

Sections 588 4.3.9 (show cause notice) or 590 4.3.11 (enforcement notice) of the Sustainable Planning Act 2009 Integrated Planning Act 1997; or


Clause 35.1

By signing this Contract all parties otherwise, by as far as such means of communication as have been indicated in this document and/or any completed electronic consent form (ie. Facsimile numbers & email addresses).


Clause 36

36.1

The Agent collects and uses personal information obtained from you (all parties) as a party to this Contract to provide the services required by you or on your behalf. You as a party to this Contract agree the Agent may collect, use and disclose such personal information in accordance with and subject to the Privacy Act 1988 (CTH) for (where applicable):


(1)

marketing; and/or


(2)

sales promotion and administration; and/or


(3)

legislative and regulatory requirements relating to promotion, administration and use of the Agent’s products and services

36.2

Without provision of certain information the Agent may not be able to act effectively or at all on your behalf. The parties Client have the right to request the Agent provide details of such information and also correct any inaccurate or out of date information.

36.3

The Agent may from time to time provide information to a data collection agency such as RP Data Limited. Data collection agencies provide information to the real estate, finance and valuation industries to enable accurate valuations of properties.

 

26 Aug 2009

AU-QLD-RE-PS-004 v9.4

Additions / Changes:

Changes made to the PAMD Form 30c as per the Warning Message, when opening the form, within the ADLForms program.

 

27 July 2009

AU-QLD-RE-PS-003 v8.5

AU-QLD-RE-PS-004 v9.3

Additions / Changes:


Header

CONTRACT FOR SALE OF RESIDENTIAL LOTS

IN A COMMUNITY TITLES SCHEME

(WARNING: This Contract is not, without amendment, suitable for use in respect of off the plan sales)

 

14 July 2009

AU-QLD-RE-PS-004 v9.2

Changes to attached PAMD 30c as per Office of Fair Trading

 

01 July 2009

AU-QLD-RE-PS-003 v8.4

AU-QLD-RE-PS-004 v9.1

Additions / Changes:


Clause 1(8)

Bond: Any Bond paid in accordance with the provisions of the Residential Tenancies and Rooming Accommodation Act 2008.


Clause 7.3(4)

all Tenancy Documents, including all documents and forms required to comply with the provisions of the Residential Tenancies and Rooming Accommodation Act 2008 including Bond transfers and notice to Tenants advising of the sale.


Clause 12.1(8)

the Seller has complied with the requirements of the Residential Tenancies and Rooming Accommodation Act 2008 with respect to the Tenancies as set out in Item (17.1) of the Item Schedule.

 

17 Mar 2009

AU-QLD-RE-PS-003 v8.3

AU-QLD-RE-PS-004 v9.0

Additions / Changes:


Item 11 Heading

BUILDING &/OR PEST INSPECTIONS


Item 11

Building Inspection:   Yes/ No                   Pest Inspection:    Yes/ No


Item 17

17.3 Managing Agent:………………………………………………………………………………………...

       Phone: …………………………. Fax:……………………… Email:………………………………....


Clause 1(4)

Bank Bond/Guarantee: Deposit Bond or Guarantee issued by a Bank or insurance company to secure the Deposit in accordance with Clause 3.4 of this Contract.


Clause 3.4

The Buyer may secure payment of pay the Deposit (in whole or in part) by Bank Bond/Guarantee in a form and on terms acceptable to the Seller, in which case on receipt of the Bank Bond/Guarantee the Buyer's obligation to pay the Deposit shall have been satisfied to the extent of the Bank Bond/Guarantee.


Clause 5.2

In complying with this Clause the Buyer will promptly, after the signing of this Contract by the Seller, make application to the Lender for the Loan and take all reasonable steps to obtain the Finance approval by the Finance Date.


Clause 5.6

The Buyer will provide details of compliance with Clause 5.2 or written proof of rejection of the Buyer’s application for finance.


Clause 12.1(9)

the details set out in Item (17.2) of the Item Schedule are correct and the Seller has caused notice of sale of the Property to be given to the Managing Agent mentioned in Item (17.3).


Clause 16

Inspection (Pre Settlement)


Clause 35.1

By signing this Contract all parties acknowledge agree to having given prior approval, in accordance with the Electronic Transactions (Queensland) Act 2001, for electronic transmission of this Contract and any other related documents contracts, for signing purposes or otherwise, as far as such means of communication have been indicated in this document and/or any completed electronic consent form (ie. Facsimile numbers & email addresses).

 

04 Dec 2008

AU-QLD-RE-PS-003 v8.2

AU-QLD-RE-PS-004 v8.9

Additions / Changes:


Item 20

(b)    Queensland Law Society Inc Standard Contract Default Interest Rate


Clause 28

If Settlement does not take place by the Settlement Date in Item (12) due to delay by the Seller, the Buyer may require the Seller to pay, as liquidated damages on Settlement, Interest on the Balance Purchase Price at the rate set out in Item (20).

 

18 Nov 2008

AU-QLD-RE-PS-003 v8.1

AU-QLD-RE-PS-004 v8.8

Additions / Changes:


Clause 16(5)

survey in accordance with Clause (21)

Changes made to Cover Page / Statement (AU-QLD-RE-PS-004 only)

 

30 Sept 2008

AU-QLD-RE-PS-004 v8.7

Changes to Cover Page / Statement Reversed

 

24 Sept 2008

AU-QLD-RE-PS-004 v8.6

Changes made to Cover Page / Statement

 

22 Sept 2008

AU-QLD-RE-PS-003 v8.0

AU-QLD-RE-PS-004 v8.5

Additions / Changes:


Item 6 Header

LOT DESCRIPTION


Item 7

Unless otherwise stated in Special Conditions the Purchase Price includes, where applicable, GST.


Item 11

Unless otherwise specified the Inspection Date will be 14 days from the Date of Contract


Item 15 Header

EXCLUDED IMPROVEMENTS


Item 15

Fixtures:


Item 16 Header

INCLUDED CHATTELS


Item 16

Chattels:

Note: includes all Improvements unless excluded in Item (15).


Item 17 Header

RESIDENTIAL TENANCIES & SHORT TERM/ HOLIDAY LETTINGS


Item 17

17.1 Residential Tenancies


Item 26

Special Conditions:

(a) Were inserted under instruction by a party to this Contract; and/or

(b) Precedents used by the Agent as Special Conditions were prepared by an Australian Legal Practitioner, not by the Agent who gives no warranty in respect of same and in accordance with the warning in Item (27), legal advice should be sought as to the meaning and effect of such Special Conditions before signing.


Item 27

The parties have been advised to seek legal advice with respect to this Contract, including Special Conditions.


Clause 1(17)

Improvements: All fixed or permanent structures comprising on the Lot Land and any items fixed items to them, including domestic dwelling, sheds, car accommodation, pergolas, in-ground or fixed pools, fixed carpets and tiles, curtains, blinds and fittings, stoves, hot water systems, fixed antennae, fixed satellite dishes, fixed security systems, fixed clothes lines and all in-ground plants, unless excluded in Item (15).


Clause 1(21)(1)

All government and local government rates and charges assessed on the Land including land tax, water and sewerage rates, general rates, fire levy and all periodic charges up to and including the Adjustment Date; and or


Clause 1(31)

Tenancies: The Residential Tenancies as per Item (17.1).


Clause 1(31)

Tenancy Documents: All Tenancy Agreements, residential or otherwise, and documents ancillary thereto.relating to the Residential Tenancies.


Clause 3.4

The Buyer may pay the Deposit (in whole or in part) by Bank Bond or Bank Guarantee in a form acceptable to the Seller, in which case on receipt of the Bank Bond the Buyer's obligation to pay the Deposit shall have been satisfied to the extent of the Bank Bond.


Clause 3.5

The Deposit is payable to the Seller:

(a)

on Settlement; or

(b)

in case of the Buyer’s Default, on default


Clause 3.6

Should this Contract be properly terminated by the Buyer, the Deposit will be refunded to the Buyer in which case the Buyer shall have no further claim under this Contract unless there has been a breach of the provisions of this Contract by the Seller, giving rise to a claim for damages.


Clause 3.7

Investment of Deposit: (Note: see Section 380 of the Property Agents and Motor Dealers Act 2000)

Where the Stakeholder is instructed by the parties to invest the deposit, subject to any legislative requirements, then (except in the case of Bank Bond):

(1)

the Deposit Holder will, if requested by either of the parties, invest the Deposit in its name as trustee for the Buyer and the Seller in and interest bearing account in both parties’ names with a Bank, Building Society or Credit Union its name as trustee for the Buyer and the Seller until the Settlement Date or as otherwise instructed by the parties.

(2)

the parties will supply to the Deposit Holder, prior to the investment of the Deposit, their tax file numbers and acknowledge that if the tax file numbers are not provided then they accept that the interest earned on the Deposit may be taxed at the highest rate allowable.

(3)

the Deposit and the interest are is at the risk of the party who is ultimately entitled to the Deposit

(4)

the interest on the Deposit will be paid to the party who becomes, and is, entitled, to the Deposit at Settlement and such party will be solely responsible for any tax liability on such monies.

(5)

the interest is payable to the party entitled to the Deposit in accordance with Clauses 3.5 and 3.6.

(5)

(1)

If Settlement of the Contract does not occur, the interest earned on the Deposit will be paid to:

(a)  the Seller if Settlement did not occur due to breaches of the Contract by the Buyer; or

(b)  the Buyer if it was for any other reason.

(2)

should this Contract be properly terminated by the Buyer, the Deposit will be refunded to the Buyer in which case the Buyer shall have no further claim under this Contract unless there has been a breach of the provisions of this Contract by the Seller, giving rise to a claim for damages.

(6)

the Deposit Holder will lodge any necessary taxation return, and may pay any tax out of the Deposit and interest. The Buyer and the Seller equally indemnify the Deposit Holder against any tax payable.

(7)

all costs in relation to this investment will be borne by the party referred to in Clause 3.7(3) and may be recovered by the Deposit Holder out of the Deposit and interest.

(8)

the Deposit Holder does not have to account to the Buyer or the Seller for interest for distribution until the investment of the Deposit matures and the bank debits tax and any other charges or expenses are deducted from the interest.

(9)

a Stakeholder, being a licensed Agent, may not invest the Deposit if the sale is to be completed on a contractually ascertainable day less more than 60 days after the Deposit is received.


Clause 4

4.1

The Contract is subject to and conditional upon the Buyer obtaining, by the Inspection Date (or such extended date as may be agreed) specified in Item (11), a building and/or pest report, satisfactory to the Buyer, excluding Acknowledged Defects / Exclusions.

4.2

In compliance with this Clause the Buyer will promptly, after the signing of this Contract by the Seller, take all reasonable steps to obtain the building and/or pest report.

4.3

If any inspection report specified in Clause 4.1 is not satisfactory to the Buyer, the Buyer must, promptly upon receipt of the inspection report, may by notice to the Seller terminating this Contract. by 5.00 p.m. on the Inspection Date terminate this Contract. The Buyer may however, waive the benefit of this condition at any time prior to termination of the Contract.

4.3

Should the Buyer not notify the Seller in accordance with the provisions of Clause 4.2 the Buyer will be deemed to be satisfied with the Inspections.

4.4

The Buyer must at all times act reasonably.

4.5

Should the Buyer not give notice to the Seller in accordance with Clause 4.3 by 5.00 p.m. on the Inspection Date the Buyer will be deemed to be satisfied with the Inspections.

4.5

This Contract is not terminated until notice is given.

4.6

Where the Buyer has given notice of termination in accordance with Clause 4.3 but has failed, when requested by the Seller, to provide a copy of the relevant report, the termination will not take effect until after such copy has been provided to the Seller.

4.6

The Buyer will, if required by the Seller, promptly provide copies of the relevant sections of any inspection reports relied upon to terminate this Contract.

4.7

All monies paid by way of Deposit will be forthwith refunded to the Buyer once this Contract is terminated in accordance with respect to this clause.

4.7

If the Buyer refuses to comply with a request in accordance with Clause 4.5 the Buyer will be deemed to be not acting reasonably.

4.8

In respect of white-ants, risk in itself will not constitute a reason for termination of this Contract.

4.9

Inspectors who conduct building inspections for the purposes of this Contract must be specifically licensed as Building Inspectors in accordance with the Queensland Building Services Authority Act 1991.


Clause 5.4

If the Buyer, through no default on the Buyer’s part, has not obtained the Finance approval by the Finance Date then the Buyer may by notice to the Seller:

(a)

terminate this Contract; or

(b)

waive the benefit of this condition


Clause 5.7

Should the Buyer not obtain Finance Approval by the Finance Date and then subsequently: obtains Finance Approval and notifies the Seller prior to the Seller giving notice to terminate this Contract in accordance with Clause 5.5, then the Buyer will have complied with the requirement to obtain a loan in the Finance Amount.

(a)

obtains finance approval; or

(b)

waives the benefit of Clause 5.1,

and notifies the Seller prior to the Seller giving notice to terminate this Contract in accordance with Clause 5.5, then the Buyer will have complied with the requirement to obtain a loan in the Finance Amount.


Clause 6.1

The Seller is entitled to the Rents and Income profits and is liable for and will make payment of all Outgoings on the Property up to and including the Adjustment Date. Thereafter the Buyer shall be entitled to Rents and Income and be liable for all Outgoings. including rates, land tax and other taxes.


Clause 6.2

All Outgoings paid and, Rents and Income received, including post Settlement reassessments, by either party must be apportioned when received based on the Adjustment Date.  This excludes water rates charges based on usage. Payment must be made within 14 days of monies being received.


Clause 6.3

All Rents and Income received by the Seller in relation to periods subsequent to the Adjustment Date must be apportioned as at the Adjustment Date.


Clause 6.4

Unpaid Rent, as at Settlement, will not be adjusted until paid. No apportionment will be made at the Adjustment Date for unpaid rent.


Clause 6.4

All Outgoings, rent and income received by the Seller in relation to periods after the Adjustment Date shall be apportioned based on the Adjustment Date.


Clause 6.5

Land tax will be apportioned as if the Land was, at midnight on the 30th June proceeding the date of this Contract, were the Seller's only land in Queensland and the Seller is a natural person, resident in Queensland.


Clause 6.9

Should the Seller be entitled to any discount on Outgoings then, for the purpose of this Clause, the discount shall not be taken into account, unless already received paid.


Clause 6.10

Adjustments will be made with respect to water rates when the rates charged are based on the average daily usage using the following formula:

Adjustment =  TC/RD x AD

Where:

TC  =

Total Usage Charge as at the Adjustment Reading Date

RD  =

Days between the previous reading and Adjustment Reading Date

AD  =

Adjustment Days. The number of days between the Adjustment Reading Date and Settlement Date.

(ie. Settlement Date minus Adjustment Reading Date. where The Adjustment Reading Date is the date the water metre was read for the purpose of issue of Local Government water usage assessment)


Clause 7.3

On payment of the Balance Purchase Price, adjusted as provided in this Contract, by Bank Cheque/s (as directed by the Seller or its Solicitor in writing) and compliance by the Buyer with the conditions of this Contract the Seller must deliver (or cause to be delivered) to the Buyer (or as directed by the Buyer):

(1)

the instrument of title, if any, for the Lot.

(2)

Transfer Documents free of un-notified Encumbrances executed by the Seller in a form capable of immediate registration (save for stamping) in accordance with the Land Title Act 1994.

(3)

all the Seller’s keys and other devices and codes for entry, exit and security unless an alternative time and place for delivery is agreed to in writing.

(4)

all Tenancy records and/or Documentsation, including all documents and forms required to including transfers (or renewals if required) of Bonds, Guarantees and Bank Guarantees, to give effect to and comply with the provisions of any tenancy under the Residential Tenancies Act 1994 including Bond transfers and notice to Tenants advising of the sale in force which are required for the management of the Lot at the time of Settlement.

(5)

in the case of short term and/ or holiday lettings where the Buyer agrees to accept same, any monies paid by way of letting deposits of where such deposits have been paid to a letting Agent, and assignment thereof in favour of the Buyer.

(6)

Rents and Income unpaid for any period prior to the Settlement Date and not adjusted between the parties at Settlement is not assigned to the Buyer but remains a debt due to the Seller in which case the provisions of Section 117 of the Property Law Act 1974 are not applicable.

(6)

duly executed assignment documentation on the Settlement Date together with appropriate notice to the tenants regarding assignment and copies of notification in accordance with Clause 12.1 (9).

(7)

title to any chattel forming part of the Property including assignable warranties and documentation and relating thereto, to which the Buyer may be reasonably entitled.

(8)

a properly completed property transfer information form in accordance with the Fire and Rescue Service Amendment Act 2006.

(9)

documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those relating to tenancies, licenses, warranties and any unregistered dealings.


Clause 10.2

The Buyer may terminate this Contract by written notice to the Seller if any action taken or resolution passed by the Body Corporate, after the Date of Contract, constitutes a material breach of any matters contained in Item (24) of this Contract. Such Notice to be given within 7 days after the Buyer is given notice in accordance with Clause 10.1 hereof, but no later than the Settlement Date.14 days after the Buyer's copy of the signed Contract being received by the Buyer.


Clause 11.2(1)

claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4; and/ or


Clause 12

Seller’s Warranties/ Buyer’s Right to Rescind


Clause 12.1(4)

the Seller is not insolvent or bankrupt nor has the Seller entered into an arrangement or composition with the Seller’s creditors.


Clause 12.1(6)

there are, at the Date of Contract, no outstanding or unsatisfied Notices, Orders or demands with respect to any Act, Regulation or By-Law, required to be complied with by the Seller pursuant to Clause 32.1, which have not been fully complied with or which may adversely affect:


Clause 12.1(10)

any Improvements to the Property not excluded in Item (15) will not have not been removed by the Seller. Any claim by the Buyer to the contrary must be directed to the Seller.


Clause 12.1(11)

in the case of vacant land, the Property has the Buyer may terminate this Contract if the Property has not been provided with a separate sewerage connection, unless otherwise disclosed in Item (26) (Special Conditions). This clause shall not apply to Property where other disposal systems are required and permissible by the local authority or council.


Clause 12.4

If a warranty set out in:

(1)

Clause 12.1 (excluding matters disclosed in Item (19) with relation to Clause 12.1 (6) or disclosed otherwise in Item (26))

(2)

Clause 12.3 (excluding matters disclosed in Item (25))

is incorrect or is breached by the Seller, the Buyer may:

(a)

where and the Buyer is materially prejudiced, the Buyer may by notice given to the Seller given not later than 5pm on the Business Day immediately preceding prior to the Settlement Date, rescind this Contract; or

(b)

the Buyer may elect to complete this Contract and reserve its rights to claim, in writing, compensation from the Seller providing notice to this effect has been given to the Seller in writing at or the claims are made prior to Settlement.


Clause 12.5

Any notice given to the Seller under Clause 12.4 must set out clearly, details of the incorrect or breached warranty.


Clause 14

14.1

If the Seller must obtain consent to transfer the Property, the Seller shall at his own cost promptly take every reasonable action to obtain such consent.

14.2

The Buyer will, if required, do all things as may reasonably be necessary to assist in obtaining such consent.

14.3

If consent is not obtained by Settlement Date, providing neither party is in default, either party may terminate this Contract.


Clause 16(1)

Inspections in accordance with as per Clause 4.


Clause 17

Any monies payable under this Contract, (or any judgment given in respect of this Contract) not paid when due, will attract Interest, from the due date, to the date of payment at the rate prescribed in Item (20) and the party, to whom those monies are owed, when such monies are paid, may recover the interest thereon from the other party as liquidated damages. for payment to date of payment which shall be the Settlement Date (except as otherwise prescribed in the case of a judgment) at the rate prescribed in Item (20).


Clause 18.2(c)

compliance with or application of any Government or local Government requirements or proposals, statutory or otherwise (including Transport Infrastructure), with respect to the Land or adjoining land will materially adversely affect the Property; or


Clause 20.6

Occupation of the Property shall be at the Buyer’s risk. The Buyer will adequately insure the Property in both the Buyer’s and Seller’s name.


Clause 20.7

The Buyer indemnifies the Seller against any loss or damage the Seller may incur arising from the Buyer’s occupancy of the Property.


Clause 20.8

The Buyer will insure the Property, in a sum and on terms approved by the Seller, in both the Buyer’s and Seller’s names.


Clause 21

Property Survey Description

The Buyer may inspect the Property survey the Lot and in so doing cause a survey to be made of the Lot and fixed and permanent structures thereon and should there be an error or mis-description with respect to the dimensions of the Lot in this Contract or an encroachment onto or from the Lot the Buyer may:

(a)

in the case of an material error, mis-description or encroachment, any one of which is of a material nature, elect (in writing to the Seller) to complete this Contract or terminate before Settlement; or

(b)

in the case of an immaterial error, misdescription, or encroachment, any one of which is of an immaterial nature, disclosed by survey or otherwise, in the dimensions of the Land or any immaterial encroachment or mis-description, the Buyer must complete the purchase in accordance with the terms of this Contract.

In the case of Clause 21.1 (b) or should the Buyer elect to complete in the case of Clause 21.1 (a), the Buyer will be entitled to monetary compensation only.


Clause 22

In the case of a material or immaterial error or misdescription of the Property, including the Seller’s title thereto, the Buyer may:

(a)

in the case of an error or misdescription, either of which are material, elect (in writing to the Seller) to complete this Contract or terminate before Settlement.

(b)

in the case of an error or misdescription, either of which are immaterial, the Buyer must complete the purchase in accordance with the terms of the Contract


Clause 23

Where the Buyer elects to complete under Clause 21(a) or 22(a) or must complete under Clause 21(b) or 22(b):

(1)

The Buyer shall only be entitled to claim compensation if notice of such claim is given at or before Settlement and such notice clearly details the error, misdescription or encroachment giving rise to such claim.  Any claim for compensation shall be limited to monetary compensation only.

(2)

Any such claim for compensation does not entitle the Buyer to delay Settlement or withhold any of the purchase monies.


Clause 24

24.1

The Seller must, prior to Settlement, provide to the Buyer current copies of all relevant documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those relating to tenancies, licenses, warranties, and any unregistered dealings.

24.2

The Seller by this Contract consents to and authorises the Buyer to inspect the records of relevant authorities including body corporate and obtain any necessary certificates relating to the Land and/or Lot and Improvements.


Clause 31.1

Time shall be of the essence. Settlement must may take place on the Settlement Date at any time between the hours specified in Clause 7.1 of this Contract.


Clause 32

32.1

(1)

The Seller must, by Settlement, fully comply with any Work Orders or Notices, issued by a competent authority, pursuant to Clause 12.1 (6), made on or before the Date of Contract that require compliance by Settlement. and the Buyer shall comply with any Work Orders or Notices issued subsequent to the Date of Contract.

(2)

Provided however, should the Buyer direct the Seller not to carry out the works, the Buyer will indemnify the Seller against any claims in respect of such Work Orders or Notices.

32.2

The Buyer must comply with any Work Orders or Notices issued by a competent authority subsequent to the Date of Contract that require compliance after Settlement.

32.3

The Costs incurred by one party in complying with of any Work Order or Notice complied with by one party which, under Clause 32.1, is the responsibility of the other party shall be, to the extent of such costs, an Adjustment to the Purchase Price in favour of the party who has incurred the costs.

32.4

The Buyer shall bear all costs towards construction or repair of any dividing fences between the Land and any adjoining land, unless a Notice served under the provisions of the Dividing Fences Act 1953, Section 8, is in force as at the date of this Contract, in which case such Notice shall be treated in the same manner as a Notice referred to in Clauses 32.1and 32.3.

32.5

In accordance with Clause 32.1 the Seller will forthwith provide the Buyer with copies of all Work Orders and Notices (including those under the Dividing Fences Act 1953) received after the Date of Contract and will not carry out any work without written consent of the Buyer which consent will not be unreasonably withheld.

32.6

Should the Contract not settle other than through default of the Buyer, the Seller will reimburse to the Buyer any monies reasonably expended by the Buyer in accordance with matters disclosed in Item (19).


Clause 34.5

A Seller’s Agent shall, for the purpose of this Clause, be recognised as a party and may receive Notices in accordance with Clause 34.1 on the Seller’s behalf if authorised by the Seller. Where notice cannot otherwise be served on the Seller in accordance with this Clause, notice may be served on the Seller’s Agent.


Clause 35.3

A solicitor appointed by a party shall have full authority to act on behalf of such party with respect to all matters relating to this Contract.


Clause 36

36.1

By signing this Contract all parties agree to having given prior approval, in accordance with the Electronic Transactions (Queensland) Act 2001, for electronic transmission of this Contract and any other related contracts, for signing purposes or otherwise, as far as such means of communication have been indicated in this document (ie. Facsimile numbers & email addresses).

36.2

This Contract may be executed in any number of counterparts. Together all counterparts make up one instrument.

36.3

This Contract may be entered into by and becomes binding on the parties by one party signing the Contract that has been signed by the other (or a photocopy or facsimile of that Contract) and transmitting a facsimile of it to the other or to the other party’s Agent or Solicitor.

 

18 Apr 2008

AU-QLD-RE-PS-003 v7.9

AU-QLD-RE-PS-004 v8.4

Changes to BCCM Form 14 as per Body Corporate and Community Management

 

04 Feb 2008

AU-QLD-RE-PS-004 v8.3

Changes to attached PAMD 30c as per Office of Fair Trading

 

14 Aug 2007

AU-QLD-RE-PS-003 v7.4

AU-QLD-RE-PS-004 v7.9

Additions:


Cover Page (c)(2)

having already received, read and signed the Disclosure Statement (BCCM Section 206) prior to signing the relevant/proposed contract mentioned in Item (a)(3) above.

 

20 July 2007

AU-QLD-RE-PS-003 v7.3

AU-QLD-RE-PS-004 v7.8

Additions:


Clause 7.3(5)

in the case of short term and/ or holiday lettings where the Buyer agrees to accept same, any monies paid by way of letting deposits of where such deposits have been paid to a letting Agent, and assignment thereof in favour of the Buyer.


Clause 12.1(9)

the details set out in Item (17.2) of the Item Schedule are correct and the Seller has caused notice of sale of the Property to be given to the Managing Agent mentioned in Item (17.2).

Changes:

 

Item 7

Figures $ ..............................................................................................................

              ..............................................................................................................

 

Item 13

An electricity safety power switch  is / is not  installed for general purpose socket outlets.

(From 1 September 2002 Electricity Amendment Regulation (No. 3) 2002 The Electrical Safety Regulation 2002 requires the transferor of land on which a domestic residence is constructed to give notice of whether a safety switch has been installed. If one is not installed, then within 90 days from the date of possession, the new owner of the land must install a safety switch.) A licensed Electrician can advise in relation to this requirement.

 

Item 17

17.1 Tenancies

Term:      …………………………………………………………………………………………….

Options:  …………………………………………………………………………………………….

Rent:       ………………….……Tenant: …………..…………………………………………….

Commencement Date: …./…./….  Completion Date:  …./…/…..Bond:……...……………..

17.2 Short term/ Holiday Lettings

 

Name

Booking Dates

(from & to)

Deposit Paid

Yes/No

Deposit Amount

Buyer Accepts

Yes/No

1)

 

 

 

 

 

2)

 

 

 

 

 

3)

 

 

 

 

 

Bookings detailed in Item 17.2 which are not accepted by the Buyer must be notified to the Managing Agent not less than ………….days prior to Settlement.

Managing Agent: …………………………………………………………………………...........

Phone: ……………………….. Fax: ……………………Email:…………………………........

 

Clause 7.3(6)

duly executed assignment documentation on the Settlement Date together with appropriate notice to the tenants regarding assignment and copies of notification in accordance with Clause 12.1 (9).

 

Clause 10.2

The Buyer may terminate this Contract by written notice to the Seller if any action taken or resolution passed by the Body Corporate, after the Date of Contract, constitutes a material breach of any matters contained in Item (24) of this Contract. Such Notice to be given within 14 days after the Buyer's copy of the signed Contract being received by the Buyer.

 

Clause 21.7

The Seller will on or before the date of possession, give the Buyer a properly completed property transfer information form in accordance with the Fire and Rescue Service Amendment Act 2006.

 

Clause 27

If Settlement does not take place by the Settlement Date in Item (12) due to delay by the Seller, the Buyer may require the Seller to shall pay to the Buyer, as liquidated damages on Settlement, Interest on the Balance Purchase Price at the rate set out in Item (20).

 

28 May 2007

AU-QLD-RE-PS-003 v7.1

Changes:


Cover Page

(c)(3)ii.

where not sent via electronic means, assembled in accordance with the legislation referred to in Item (a) {eg. stapled or bound together with the Warning Statement as the first or top page}

 

11 May 2007

AU-QLD-RE-PS-003 v7.0

AU-QLD-RE-PS-004 v7.6

Additions:


Item 14

Smoke alarms are/are not installed on the Property.

 

{From the 1st July 2007 owners of all houses and units (domestic dwellings) in Queensland must install and maintain smoke alarms in compliance with the Fire and Rescue Service Act 1990 as amended.}


Clause 7.3(8)

a properly completed property transfer information form in accordance with the Fire and Rescue Service Amendment Act 2006.


Clause 12.1(11)

the Seller has complied with the Fire and Rescue Service Amendment Act 2006 with respect to smoke alarms.


Clause 21.7

The Seller will on or before the date of possession, give the Buyer a properly completed property transfer information form in accordance with the Fire and Rescue Service Amendment Act 2006.

 

12 Mar 2007

AU-QLD-RE-PS-003 v6.9

AU-QLD-RE-PS-004 v7.5

Additions:


Clause 1(16)

G.S.T Act: refers to the A New Tax System (Goods & Services Tax) Act 1999.


Clause 1(17)

ITAA: refers to the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997.


Clause 1(28)

Settlement:  The conveyance of the Property from the Seller to the Buyer.


Clause 1(29)

Settlement Date:  The appointed date specified in Item (12) for Settlement to occur.


Clause 1(30)

Special Contribution: a levy on the owner of a lot fixed by the Body Corporate, in accordance with the Regulation Module, where a liability arises for which no provision, or inadequate provision has been made in the Body Corporate’s budget.


Clause 5

This Clause shall not apply unless all details in Item (10) are complete.


Clause 6.2

All Outgoings paid and, rent and income received, including post Settlement reassessments, by either party must be apportioned when received based on the Adjustment Date. This excludes water rates charges based on usage. Payment must be made within 14 days of monies being received.


Clause 6.3

No apportionment will be made at the Adjustment Date for unpaid rent.


Clause 6.8(2)

Where a Land Tax Clearance Certificate has been issued by the Adjustment Date the Buyer may deduct, as an adjustment, the amount specified in such a certificate and same shall forthwith be paid to the relevant authority and the Seller will be released from any obligations in respect to land tax on the land.


Clause 6.11

The Buyer is responsible for;

(1)

obtaining an accurate water meter reading within a reasonable time period prior to Settlement for the purpose of Clause 6.10

(2)

determining an Adjustment amount to be paid in accordance with Clause 6.10

(3)

disclosing the information in Clause 6.11 (1) & (2) to the Seller not less than 48 hours prior to the Adjustment Date


Clause 6.14

Any Special Contributions or exclusive use levy levied prior to the Date of Contract will be the responsibility of the Seller and thereafter will be the responsibility of the Buyer.


Clause 12.3(e)

the information contained in Item (20) is correct


Clause 17(3)

reading of the water meter


Clause 32

If an Agent has been appointed by the Seller as outlined in Item (2) to sell the Property for the Seller, authority vested in the Agent by the Seller shall be deemed to be vested in the Agent’s authorised employees.


Clause 34

34.1

The laws of Queensland are the laws applicable to this Contract.

34.2

Notwithstanding the provisions of this Contract the Buyer is not precluded from the protection of statutory rights which cannot be excluded.

Changes:


Clause 1

Defined terms have the same meaning throughout this Contract.

In this Contract (which includes the Item Schedule) the following terms mean:


Clause 2(2)

'person' includes a firm, a Body Corporate together with executors, administrators, successors and assigns.


Clause 3.3

Failure to pay any monies on time or by cheque, which is not honoured on presentation, will be an act of default by the Buyer in which case the Seller may terminate this Contract and otherwise act in accordance with Clause 11.1 of this Contract.


Clause 3.5

Investment of Deposit: (Note: see Section 380 of the Property Agents and Motor Dealers Act 2000)

Where the Stakeholder is instructed by the parties to invest the deposit, subject to any legislative requirements, then (except in the case of Bank Bond):

(1)

the Deposit Holder will, if requested by either of the parties, invest the Deposit in and interest bearing account in both parties’ names funds paid with a Bank, Building Society or Credit Union in an interest bearing account in both parties’ its name as trustee for the Buyer and the Seller until the Settlement Date. name but at the risk of the party who becomes entitled to the Deposit.

(2)

the parties will supply to the Deposit Holder, prior to the investment of the Deposit, their tax file numbers and acknowledge that if the tax file numbers are not provided then they accept that the interest earned on the Deposit may be taxed at the highest rate allowable.

(3)

the Deposit and the interest is at the risk of the party who is ultimately entitled to the deposit

(4)

the interest on the Deposit will be paid to the party who becomes, and is entitled, to the Deposit at Settlement.

(5)

(1)

if Settlement of the Contract does not occur, the interest earned on the Deposit will be paid to:



(a)

the Seller if Settlement did not occur due to breaches of the Contract by the Buyer; or



(b)

the Buyer if it was for any other reason.


(2)

should this Contract be properly terminated by the Buyer, the Deposit will be refunded to the Buyer in which case the Buyer shall have no further claim under this Contract unless there has been a breach of the provisions of this Contract by the Seller, giving rise to a claim for damages.

(6)

the Deposit Holder will lodge any necessary taxation return, and may pay any tax out of the Deposit and interest. The Buyer and the Seller equally indemnify the Deposit Holder against any tax payable.

(7)

all costs in relation to this investment will be borne by the party referred to in Clause 3.5(3) and may be recovered by the Deposit Holder out of the Deposit and interest.

(8)

the Deposit Holder does not have to account to the Buyer or the Seller for interest for distribution until the investment of the Deposit matures and the bank debits tax and any other charges or expenses are deducted from the interest.

(9)

a Stakeholder may invest the Deposit if the sale is to be completed on a contractually ascertainable day more than 60 days after the Deposit is received.


Clause 6.1

The Seller is entitled to the rents and profits and is liable for all Outgoings on the Property up to and including the Adjustment Date. Thereafter and after that date the Buyer shall be entitled to the Rents and profits income and be liable for all Outgoings including rates, land tax and other taxes.


Clause 6.4

All Outgoings, rents and profits income received by the Seller in relation relating to periods after the Adjustment Date subsequent to the Settlement Date shall must be apportioned based on the Adjustment Date.


Clause 6.5

Land tax will be apportioned as if the Land was, at midnight on the 30th June proceeding the date of this Contract, were the Seller's only land in Queensland. and the Seller is a natural person resident in Queensland.


Clause 6.10

Adjustments will be made with respect to water rates when the rates charged are usage will be based on the average daily usage using the following formula: for the most recently assessed period before the Adjustment Date.

Adjustment =  TC/RD x AD

Where:

TC

=

Total Usage Charge as at the Adjustment Reading Date

RD

=

Days between the previous reading and Adjustment Reading Date

AD

=

Adjustment Days between Adjustment Reading Date and Settlement Date.

(ie. Settlement Date minus Adjustment Reading Date where the Adjustment Reading Date is the date the water metre was read for the purpose of issue of Local Government water usage assessment)


Clause 7.3

On payment of the Balance Purchase Price, adjusted as provided in this Contract, by Bank Cheque/s as directed by the Seller and compliance by the Buyer with the conditions of this Contract the Seller must deliver to the Buyer:

(1)

the instrument of title, if any, for the Lot.

(2)

Transfer Documents free of un-notified Encumbrances executed by the Seller in a form capable of immediate registration (save for stamping) in accordance with the Land Title Act 1994.

(3)

all the Seller’s keys and other devices and codes for entry, exit and security.

(4)

all records and/or documentation, including transfers (or renewals if required) of Bonds, Guarantees and Bank Guarantees, to give effect to and comply with the provisions of any tenancy under the Residential Tenancies Act 1994 in force which are required for the management of the Lot at the time of Settlement.

(5)

duly executed assignment documentation on the Settlement Date together with appropriate notice to the tenants regarding assignment.

(6)

Rent and income unpaid for any period prior to the Settlement Date and not adjusted between the parties at Settlement is not assigned to the Buyer but remains a debt due to the Seller in which case the provisions of Section 117 of the Property Law Act 1974 are not applicable.

(7)

title to any chattel forming part of the Property including warranties and documentation and relating thereto, to which the Buyer may be reasonably entitled.

(8)

current copies of any other relevant documents in the Seller’s possession reasonably required by the Buyer relating to the Property, in particular those relating to tenancies, licences, warranties and any unregistered dealings.


Clause 10.2

The Buyer may terminate this Contract by written notice to the Seller if any action taken or resolution passed by the Body Corporate, after the Date of Contract Date, constitutes a material breech of any matters contained in Item (23) of this Contract. Such Notice to be given within 14 days after the Buyer's copy of the signed Contract being received by the Buyer.


Clause 12.1

The Seller warrants, unless otherwise disclosed in this Contract, that at the time of Settlement:

(1)

the Seller will be the Registered Owner of an estate in fee simple in the Lot.

(2)

it is the owner of all the Property.

(3)

there is no impediment to the Seller completing the sale.

(4)

the Seller is not insolvent or bankrupt nor has the Seller entered into an arrangement or composition with the Seller’s creditors.

(5)

there are no legal actions affecting or which may affect the Property or any part of it.

(6)

there are, at the Date of Contract, no outstanding or unsatisfied Notices, Orders or demands at the Date of Contract with respect to any Act, Regulation or By-Law which have has not been fully complied with or which may adversely affect: the Land and Improvements, unless disclosed in Item (18).


(a)

the Property, unless disclosed in Item (18); or


(b)

the Seller’s ability to complete this Contract.

(7)

the Seller has complied with all relevant environmental legislation in respect to the Property.

(8)

the Seller has complied with the requirements of the Residential Tenancies Act 1994 with respect to the Tenancies as set out in Item (16) of the Item Schedule.

(9)

any Improvements to the Property not excluded in Item (14) have not been removed by the Seller. Any claim by the Buyer to the contrary must be directed to the Seller.

(10)

in the case of vacant land, the Buyer may terminate this Contract if the Property has not been provided with a separate sewerage connection, unless otherwise disclosed in Item (25) (Special Conditions). This clause shall not apply to Property where other disposal systems are required and permissible by the local authority or council.


Clause 12.4

If a warranty set out in Clause 12.1 (excluding matters disclosed in Item (18) with relation to Clause 12.1 (6) or otherwise in Item (25)) or 12.3 (excluding matters disclosed in Item (24)) is incorrect the Buyer may:

(1)

by notice to the Seller, (except in the case of matters disclosed in Item (18) with relation to Clause 12.1 (6) or disclosed in Item (25)), rescind this Contract.

(a)

and the Buyer is materially prejudice, the Buyer may by notice given to the Seller prior to the Settlement Date, rescind this Contract; or

(b)

the Buyer may elect to complete this Contract and reserve its right to claim, in writing, compensation from the Seller provided the claims are made damages providing notice to this effect has been given to the Seller prior to Settlement.


Clause 18

Any monies payable under this Contract, (or any judgment given in respect of this Contract) not paid when due, will attract Interest, from the due date, for payment to date of payment which shall be the Settlement Date (except as otherwise prescribed in the case of a judgment) at the rate prescribed in Item (19). and the party, to whom these monies are owed, when such monies are paid, may recover the interest from the other party as liquidated damages.


Clause 22.1

The Seller believes the Property to be correctly described. The Buyer may survey the Lot and should there be an error or mis-description in this Contract or an encroachment onto or from the Lot the Buyer may:

(a)

in the case of a material error, mis-description or encroachment, elect to complete this Contract or terminate before Settlement; or

(b)

In the case of an immaterial error in the dimensions of the Land or any immaterial encroachment or mis-description, the Buyer must complete.

In the case of Clause 22.1 (b) or should the Buyer elect to complete in the case of Clause 22.1 (a), the Buyer will be entitled to monetary compensation only.


Clause 23

23.1

The Seller by this Contract consents to and authorises the Buyer to inspect the records of authorities and obtain any necessary certificates relating to the Land and Improvements. must, prior to Settlement, provide to the Buyer current copies of all relevant documents in the Seller’s procession reasonably required by the Buyer relating to the Property, in particular those relating to Tenancies, licences, warranties, and any unregistered dealings.

23.2

The Seller by this Contract consents to and authorises the Buyer to inspect the records of authorities relating to the Lot and Improvements.


Clause 31.1

The Seller must, by Settlement, fully comply with any Work Orders or Notices, issued by a competent authority, pursuant to Clause 12.1 (6), made on or before the Date of Contract and the Buyer shall comply with any Work Orders or Notices issued subsequent to the Date of Contract.


Clause 31.2

The costs of any Work Order or Notice complied with by one party which, under Clause 31.1, is the responsibility of the other party shall be, to the extent of such cost, an Adjustment to the Purchase Price in favour of the party who has incurred the costs.

 

22 Nov 2006 v6.8

Changes:


Item 18

1.

Local Government /

......................................

Date:

.../.../...


Statutory Authorities:

......................................

Date:

.../.../...

2.

Dividing Fences:

......................................

Date:

.../.../...

3.

..............................

......................................

Date:

.../.../...


Clause 1(17)

Land Tax Clearance Certificate:   A certificate issued by the Commissioner of Land Tax that describes the land charged, and showing whether or not any land tax remains unpaid on the land described in the application and where land tax remains unpaid, the amount thereof. states that there are arrears of land tax payable in respect thereof in accordance with (Section 37 (1A) of the Land Tax Act 1915)


Clause 1(21)

Property:   The Land described in Item (6) together with and Improvements described in Clause 1 (18), Item (6) of the Item Schedule and the included chattels described in Item (15) of the Item Schedule.


Clause 3.5

Investment of Deposit: (Note: see Section 380 of the Property Agents and Motor Dealers Act 2000)

Where the Stakeholder is instructed by the parties to invest the deposit, subject to any legislative requirements, If the Deposit is to be invested then (except in the case of Bank Bond):

(1)

the Deposit Holder will invest the funds paid with a Bank, Building Society or Credit Union in an interest bearing account in both parties’ name but at the risk of the party who becomes entitled to the Deposit.

(2)

the interest on the Deposit will be paid to the party who becomes, and is entitled, to the Deposit.

(3)

the party who becomes entitled to the income from the invested Deposit will be solely responsible for any tax liabilities on such income. Tax in this context includes Income Tax and GST.

(4)

all costs in relation to this investment will be borne by the party referred to in Clause 3.5(3).

(5)

the parties will supply the Deposit Holder with their tax file numbers in order to assist with the investing of the Deposit.

(6)

a Stakeholder may invest the Deposit if the sale is to be completed on a contractually ascertainable day more than 60 days after the Deposit is received.


Clause 5.8

Should the Buyer obtain Finance Approval on a date subsequent to the Finance Date and notifies the Seller prior to the Seller giving notice terminating the Contract, the Buyer will have complied with the request to obtain a loan in the Finance Amount.

Should the Buyer not obtain Finance Approval by the Finance Date and then subsequently:

(a)

obtains finance approval; or

(b)

waives the benefit of Clause 5.1,

And notifies the Seller prior to the Seller giving notice to terminate this Contract in accordance with Clause 5.5, then the Buyer will have complied with the requirement to obtain a loan in the Finance Amount.


Clause 6.2

No Adjustment will be made at Settlement for unpaid rent.


Clause 7.1

Settlement shall take place (Subject to Clause 7.3) on the Settlement Date specified in Item (12) (or if the Settlement Date is not a Business Day on the next Business Day following) between 10.00am and 5.00 pm:

(a)

at the Settlement office of the Seller’s mortgagee or solicitor; or

(b)

as otherwise agreed upon by the parties; or

(c)

failing agreement, at the nearest office, to the nominated place for Settlement, at which land title documents may be lodged for registration.


Clause 7.3

The Seller will have provided to the Buyer no later than 3:00pm on the day prior to the Settlement Date, details of all cheques required for payment of the Balance Purchase Price. Should such details not have been provided in that time the Buyer has the right upon request, given no later than 5:00pm on that day, to a 24-hour extension of the Settlement Date.


Clause 8

The Seller must hand over the Property at Settlement without damage or loss to the condition, as at the Date of Contract (fair wear and tear excepted). Should there be damage or loss to the condition of the Property the Buyer may not delay Settlement or withhold monies.  However, the Buyer may claim the reasonable costs of effecting rectification from the Seller as liquidated damages notwithstanding Settlement may have taken place. The Buyer must however notify the Seller, prior to Settlement, of its intention to make a claim.


Clause 12.3

If a warranty set out in Clause 12.1 is incorrect the Buyer may: rescind this Contract. {Note: except in the case of matters disclosed in Item (18) with relation to Clause 12.1 (6) or otherwise in Item (25)}.

(1)

by notice to the Seller, (except in the case of matters disclosed in Item (18) with relation to Clause 12.1 (6) or disclosed in Item (25)), rescind this Contract.

(2)

elect to complete the Contract and reserve its right to claim damages providing notice to this effect has been given to the Seller prior to Settlement.


Clause 12.5

If a warranty set out in Clause 12.4 is incorrect the Buyer may, by notice to the Seller, (except in the case of matters disclosed in Item 24) rescind this Contract. {Note: except in the case of matters disclosed in Item (24)}.


Clause 15

The Property is sold free of Encumbrances and Tenancies except as notified other than those included in Items (16) and (17) (But subject to all reservations in favour of the Crown).


Clause 23.1

The Seller must, prior to Settlement, provide to the Buyer current copies of all relevant documents in the Seller’s procession reasonably required by the Buyer relating to the Property, in particular those relating to Tenancies, licences, warranties, and any unregistered dealings.


Clause 32.2

Where the Seller is not represented by a solicitor, service of a notice upon the Seller for the purposes of Finance (Item 10) and Inspections (Item 11) may be affected by posting the notice to the Seller's address (Item 2) by Registered Post before 5:00pm on the next Business Day after the date specified in the relevant item.

Additions:


Clause 4.10

Inspectors who conduct building inspections for the purposes of this Contract must be specifically licensed as Building Inspectors in accordance with the Queensland Building Services Authority Act 1999.


Clause 6.3

All rents and profits received by the Seller relating to periods subsequent to the Settlement Date must be apportioned on the Adjustment Date.


Clause 6.4

Unpaid rent, as at Settlement, will not be adjusted until paid.


Clause 32.3

A facsimile notice shall be deemed to have been served when transmitted to the facsimile number, agreed upon by the recipient, at the time of the facsimile transmission in accordance with Section 24 of the Electronic Transactions (Queensland) Act 2001 and otherwise complies with legislation.

 

28 July 2006 v6.5

Additions:


Clause 34

The Agent collects and uses personal information obtained from you (all parties) as a party to this Contract to provide the services required by you or on your behalf. You as a party to this Contract  agree the Agent may collect, use and disclose such personal information in accordance with and subject to the Privacy Act 1988 (CTH) for (where applicable) marketing, sales promotion and administration and as required for legislative and regulatory requirements relating to promotion administration and use of the Agent’s products and services. Without provision of certain information the Agent may not be able to act effectively or at all on your behalf. The Client has the right to request the Agent provide details of such information and also correct any inaccurate or out of date information.

 

07 Apr 2006 v6.4

Changes:


Item 8

Initial Deposit: ...................................................

Payable: ...........................................................

Balance Deposit: ...............................................

Payable by a date no later than: ..........................

 

14 Mar 2006 v6.3

Changes:


Clause 5.1

This Contract is subject to and conditional upon the Lender approving a loan to the Buyer in the Finance Amount, on terms and conditions satisfactory to the Buyer, for the purchase of the Property by the Finance Date (or such extended date as may be agreed). See Item (10).

Additions:


Clause 5.8

Should the Buyer obtain Finance Approval on a date subsequent to the Finance Date and notifies the Seller prior to the Seller giving notice terminating the Contract, the Buyer will have complied with the request to obtain a loan in the Finance Amount.

 

20 Dec 2005 v6.2

Additions:



Cover Page/Statement Added to Contract

 

09 Dec 2005 v6.1

Additions:


Clause 33

By signing this Contract all parties agree to having given prior approval, in accordance with the Electronic Transactions (Queensland) Act 2001, for electronic transmission of this Contract and any other related contracts, for signing purposes or otherwise, as far as such means of communication have been indicated in this document (ie. Facsimile numbers & email addresses).

 

31 Oct 2005 v6.0

Changes:


Item 12

OR ………………………................................


Item 23

The Seller warrants that as at the date as of the completion of the Contract:

 

(i) 223(2)(a) & 223(2)(b) To the Seller's knowledge there are no latent or patent defects in the common property or Body Corporate assets, other than the following-

 

(ii) 223(2)(c) & 223(2)(d) To the Seller's knowledge there are no actual, contingent or expected liabilities of the Body Corporate that are not part of the Body Corporate's normal operating expenses, other than the following-

 

The Seller warrants that as at the completion of the Contract:

 

(iii) 223(3) To the Seller's knowledge there are no circumstances in relation to the affairs of the Body Corporate likely to materially prejudice the buyer, other than the following-


Clause 28

Any Special Conditions to this Contract shall form part of this Contract. Should there be any inconsistency between the Terms and Conditions, or any additional conditions, and the Special Condition, the Special Condition shall apply.


Clause 32.1 (d)

by a sender's cleared facsimile transmission to the party's facsimile number in Item (3) or (5); or

 

10 Aug 2005 v5.9

Changes:


Clause 1 (13)

Disclosure Statement: The statement complying with Section 206 or Section 213 of the BCCMA.


Clause 15

The Property is sold free of Encumbrances and Tenancies other than those included in Items (16), (17) (But subject to all reservations in favour of the Crown).

 

28 Apr 2005 v5.7

Changes:


Item 12

Date:   ……………….. OR ………………………. days from the Date of Contract

 

22 Apr 2005 v5.6

Changes:


Item 19

Change reference to Clause 3.5 (c) to 3.5(3)

 

30 Mar 2005 v5.6

Additions:


Clause 6.5

Should the Commissioner of Land Tax not have issued a Land Tax Clearance Certificate to the Purchaser by the Adjustment Date, then in such case the parties agree the Purchaser will retain in his Solicitor's Trust Account such sum, from the settlement monies, as the Commissioner of Land Tax specifies in writing would be prudent to cover any land tax liability outstanding for the period up to and including 30th June immediately preceding the Adjustment Date and upon a Land Tax Clearance Certificate issuing. The Purchaser undertakes and agrees to direct the Solicitor to pay from the funds held in the Trust Account so much of those funds as may be necessary to obtain for the Purchaser a Land Tax Clearance Certificate. Any balance funds remaining shall be paid to the Seller.

 

This obligation is a continuing obligation and does not lapse at settlement.


Clause 1 (17)

Land Tax Clearance Certificate: A certificate issued by the Commissioner of Land Tax that describes the land charged, and stating that there are arrears of land tax payable in respect thereof in accordance with Section 37 (2) of the Land Tax Act 1915.

 

Make changes to the page numbering thereafter to accommodate changes

 

15 Feb 2005 v5.5

Additions:


Clause 10.3

Nothing in this Contract precludes the Buyer from terminating this Contract under the provisions of Section 224 of the Body Corporate and Community Management Act 1997.

 

03 Feb 2005 v5.5

Changes:


Item 6

Address: ……………………………………………………………………………....

Lot No.   ……………… on GTP/BUP/SP…………………………………….…….

Title Reference:   …………………………….………………………………………..

Community Title Scheme (Name and No.): ……….……………………………….

Local Government: ………………………… Present Use: ………………………..

 

25 Jan 2005 v5.4

Changes:


Clause 1 (18)

Change sub letters to sub numbers


Item 19

Delete box

Change phrase in brackets to: (if left blank Item 20(b) is applicable)

 

19 Jan 2005 v5.4

Additions:


Item 21

Add two more lines under "Additional (please specify)"

 

18 Jan 2005 v5.3

Changes:


Note Page1

* By checking the Notices box, that party agrees to receive appropriate Notices via email to the specified email address (Clause29.1(e)).


Clause 19.2

c) compliance with or application of any statutory requirements with respect to the Land or adjoining land will materially adversely affect the Property; or


Clause 29.1 (e)

if both parties agree and it is lawful, by electronic transmission to the party at the email address shown for that party in the Item Schedule. (Refer to Items 2 to 5 of this contract); or

 

06 Oct 2004 v5.2

Changes:


Clause 4.1

The Contract is subject to and conditional upon the Buyer obtaining, by the Inspection Date, a building and/or pest report, by the date specified in Item (11), satisfactory to the Buyer, excluding Acknowledged Defects / Exclusions.

 

04 Aug 2004 v5.2

Changes:


Item 8

Payable by a date no later than: …………………………………………………….

 

22 July 2004 v5.1

Changes:


Heading

(section 33(2) of the Small Claims Tribunals Act 1973) In the Small Claims Tribunal in Queensland


Clause 6.6

The Deposit is payable to:

(a) the Seller:

(a) on Settlement; or

(b) in case of the Buyer's Default on default; or


Clause 6.9

Any amount adjustable under this provision which relates to land other than that included in the Property shall be (where no specific assessment is issued) adjusted proportionately based on the area of the whole of the land relative to the area of the Land included in the Property.


Clause 7.2

The Seller may direct the Buyer to provide on Settlement a cheque payable to the relevant authority for Outgoings assessed but unpaid at the Adjustment Date. It shall be the Buyer's responsibility to forward such cheque to the relevant assessing authority forthwith. This will be an adjustment for purposes of Clause 6.1.


Clause 7.10

The Buyer will have delivered to the Seller, at a reasonable time before Settlement for execution by the Seller, Transfer Documents for the Land and any assignment or other document necessary for Settlement of this Contract.


Clause 11.1 (2)

The Seller will, prior to Settlement, remove all chattels and other property not included in the sale, and repair all or any damage, if any, caused by such removal. Should the Seller fail to carry out such repairs the Buyer may do so and recover the cost of such repairs as liquidated damages from the Seller notwithstanding Settlement may have taken place.


Clause 17 (3)

one pre-settlement inspection in addition to Clauses 15 (1) & 15 (2).


Clause 18

Any monies payable under this Contract, or any Judgement given in respect of this Contract not paid when due, will attract Interest, from the due date, at the rate prescribed in Item (20) and the party, to whom these monies are owed, when such monies are paid, may recover the interest from the other party as liquidated damages.


Clause 32.4

Notices given by a party's solicitor will be deemed to have been given by and with the authority of the party.

Additions:


Clause 5.3

The Buyer must give notice to the Seller immediately upon approval/rejection of Finance in accordance with Clause 32 (Notice).


Clause 6.2

No adjustment will be made at Settlement for unpaid rent.

 

Renumber all other clauses below this to accommodate.


Clause 21.6

The Property shall be at the Buyer's risk. The Buyer will adequately insure the Property in both the Buyer's and Seller's name.

 

23 June 2004 v5.0

Changes:


Item 11

Added an entry box to allow for the entry of Acknowledged Defects


Clause 4.1

The Contract is subject to and conditional upon the Buyer obtaining, by the Inspection Date, a building and/or pest report, as outlined in Item (11), satisfactory to the Buyer, excluding Acknowledged Defects / Exclusions.

Additions:


Clause 4.9

In respect of white-ants, risk in itself will not constitute a reason for termination of this Contract.