Spyglass Lane
FURTHER TERMS OF SALE
GENERAL CONDITIONS FOR THE SALE OF A WHITBY SECTION
SPYGLASS LANE
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 but not including the value of the land) erected on any of the said lots shall have a completed value of not less than $220,000 (inclusive of GST) OR not less than two times the purchase price of the land from the vendor (whichever is the lesser) and shall be commenced within three (3) years from issue of the title or such extension of that time as granted in writing by the Vendor (as referred to in clause 3 of further terms of sale herein). 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 vendor OR a have value of not less than $320,000 (inclusive of GST) for both dwellings (whichever is the lesser).
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).
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 hereinafter 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.
EXCEPT where the prior written approval of Whitby Coastal Estates Limited or its appointed representative (in its sole discretion) has been granted, no transportable or relocatable dwelling(s) of any kind shall be brought onto or hereinafter 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. 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 closer to the street frontage than the front building line of the dwelling other than for a fence or wall that may be erected on the front street boundary of the lot which shall not exceed 50% of the total length of the street frontage boundary. This street frontage fence and the adjoining side boundary fence shall not exceed 1.5 metres in height. This covenant shall not apply to rear lots off a private right of way.
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 or such extension of that time as granted in writing by the Vendor (time to be of the essence) commence to erect on the Land and complete with all due diligence a dwelling-house and appurtenances 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 the dwellinghouse and its appurtenances to a stage of practical completion within 15 months of the date of commencement of construction. 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. DISPUTE RESOLUTION
If any dispute arises out of or in connection with these covenants then such dispute shall be dealt with in accordance with clause 14 of the Fourth Schedule to the Land Transfer Regulations 2002.
6. BREACH OF COVENANTS
If there should be any breach or non-observance of any of the covenants and conditions contained in this covenant and without prejudice to any other liability which the grantor may have to any authority or any person having the benefit of such covenants and conditions and without in any way restricting the remedies available to any grantee or any person having the benefit of such covenants and conditions the grantor will upon written demand made by the grantee or any person having the benefit of such covenants and conditions:
(a) immediately remedy the breach or non-observance by removal from the lot any building or part thereof or any fence or structure used, erected, constructed, commenced or repaired in breach or non-observance of the covenants and conditions herein; and
(b) the grantor shall upon demand having been made by the grantee replace any building material used or to be used in breach or non-observance of the covenants and conditions with building materials which comply with the grantor’s obligations herein.
7. 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.
8. 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 the Income Tax Act 2004 (or any act in substitution thereof) is equal to the Purchase Price of the land.
9. COVENANTS NOT TO MERGE ON SETTLEMENT
THE provisions of the clauses 3 and 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.
10. GST TAX INVOICE
The Purchaser shall not be entitled to call for a GST tax invoice or settlement statement earlier than four weeks before the settlement date.
11. VENDORS CONDITION
This contract is conditional upon the deposit of the subdivisional plan and issue of the certificate of title. This condition is inserted for the benefit of the vendor.
