James Cook Connection & Flotilla Stages
RESTRICTIVE COVENANTS AND EASEMENTS – JAMES COOK CONNECTION & FLOTILLA
1. RESTRICTIVE COVENANTS AND EASEMENTS
THE land is sold subject to the following:
(i) restrictive covenants as set out hereunder and/or;
(ii) such easements as may be noted on the title or required by the Vendor to be registered against the Land as part of the planned development of the vendor’s residential and other lands and/or;
(iii) any additional easements, consent notices or other requirements of the local authority;
ANY dwelling-house (including carport and/or garage) erected on any of the said lots shall have a completed value of not less than $220,000 OR not less than two times the purchase price of the land from the developer and shall be completed within three (3) years from commencement of Construction (as defined in clause 3 of further terms of sale). If two adjoined dwellings are to be built on the site, then the combined value of the dwelling units shall not be less than three times the purchase price of the land from the developer OR a have value of not less than $320,000 for both dwellings.
THERE shall be no more than one dwelling-house per lot, unless the dwelling houses are adjoined with a partywall (with a maximum of two dwelling houses per lot) and the said lot is not a rear lot.
EXCEPT when building operations are in progress no trade vehicle, trade equipment or materials, debris, rubbish or vehicle of any unsightly nature shall be allowed to be brought on to or remain on any of the said lots unless the same is adequately garaged or screened to prevent offence to any adjoining lots and to preserve the amenities of the neighbourhood.
NO garages, outbuildings, fences or walls shall be erected or at any time hereafter be permitted to be erected on any of the said lots except in permanent materials of wood, brick or stone or other similar permanent materials not to include unpainted galvanised iron.
NO transportable or relocated dwelling(s) of any kind shall be brought onto or hereafter be permitted on any of the said lots.
NO lots shall be further subdivided except where 2 dwelling houses are permitted to be adjoined with a party wall and the said lot is not a rear lot. Otherwise only minor boundary adjustments or amalgamations will be permitted that do not reduce any of the said lots by more than one-quarter or their original size and do not detract from the special character of the neighbourhood comprised by the said land.
NO fences or walls shall be erected or at any time hereafter be permitted to be erected on any of the said lots closer to the street frontage than the front building line of the dwelling erected on the said lots other than for a fence or wall to be erected on the front street boundary of the lot. The fence or wall shall not exceed 50% of the total length of the street frontage boundary of the lot and shall not exceed 1.5 metres in height. This covenant shall not apply to rear lots.
2. FENCING COVENANT:
THE Purchaser agrees not to call on the Vendor or the local body to pay or contribute to the cost of erection or maintenance or repair of any fence between the Land and any adjoining land owned by the Vendor or vested or to be vested in the local body and a covenant to this effect may be inserted in the Transfer from the Vendor to the Purchaser but such a covenant will not enure for the benefit of any purchaser of such adjoining land or any part thereof.
3. COVENANT TO BUILD AND APPROVAL OF HOUSE DESIGN PLANS:
THE Purchaser will with all due diligence and in any event not later than three (3) years from the date of the issue of title (time to be of the essence) commence to erect on the Land and complete with all due diligence a dwelling-house in accordance with plans to be approved before commencement by the Vendor or its appointed representative and in compliance with any restrictive covenant on the Land in terms of Clause 1 of further terms of sale herein. The plans submitted are to show to the satisfaction of the Vendor the floor plan, exterior profile and colour scheme (or building material to be used) and the landscaping of the site. The approval of the Vendor is for aesthetic purposes only and implies no warranty as to the quality or suitability of the dwelling in any manner whatsoever.
THE Purchaser will erect to a stage of practical completion within 15 months of the date of commencement. For the purposes of this clause “practical completion” shall be taken to mean that the dwelling-house and its appurtenances shall have roof spouting and down-pipes fitted, exterior cladding fixed and painted or completed (where appropriate), all driveways and pathways laid and non-paved areas sown in grass or presented in garden. If a pole house construction system is used, the basement area and pole foundations must be covered in approved materials if visible from any road or accessway.
4. COVENANTS PENDING BUILDING:
Until the Purchaser commences building the Land will be maintained in a clean and tidy condition with grass cut and other vegetation trimmed by the Vendor at the purchaser’s cost if the Vendor considers the land is untidy.
5. AGREEMENT NOT TO CAVEAT:
THE Purchaser hereby covenants that they shall not register a caveat against all or any of the land which is the subject of this Agreement.
6. ACCRUALS CLAUSE:
The Purchase Price does not include any capitalised interest and the parties agree that the "lowest price" for the purposes of the definition of "core acquisition price" in Section OBI of the Income Tax Act 1994 is equal to the Purchase Price of the land.
7. COVENANTS NOT TO MERGE ON SETTLEMENT:
THE provisions of the clauses 3 & 4 of further terms of sale herein and any other agreements obligations and warranties of the parties insofar as the same have not been fulfilled at the time of transfer of the land shall not in any way merge or be annulled by the Purchaser paying all purchase monies and interest and taking title to the Land but shall remain in full force and effect.
8. GST TAX INVOICE
The Purchaser warrants that they shall not be entitled to call for a GST tax invoice or settlement statement earlier than four weeks before the settlement date.
