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SALE AGREEMENT
Memorandum of agreement entered into and between
REDS DEVELOPMENT 1 (PTY) LTD
Registration number 2006/018463/07
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Unit Assisted by
SALE AGREEMENT
Memorandum of agreement entered into and between
REDS DEVELOPMENT 1 (PTY) LTD
Registration number 2006/018463/07
Herein represented by LEWIS CIVIN in his capacity
as director and duly authorized hereto and acting as the Seller
and
The Purchaser with the following particulars:
A. Individual One
1. Full Names
2. Date Of Birth
3. Marital Status
4. Income Tax Number
5. Postal Address
Current Physical and
6.
Domicilium Address
7. Email Address
8. Telephone
9. Cell Phone
10. Facsimile
11. SA Resident Yes No
B. Individual Two
1. Full Names
2. Date Of Birth
3. Marital Status
4. Income Tax Number
5. Postal Address
Current Physical and
6.
Domicilium Address
7. Email Address
8. Telephone
9. Cell Phone
10. Facsimile
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11. SA Resident Yes No
C. Individual Three
1. Full Names
2. Date Of Birth
3. Marital Status
4. Income Tax Number
5. Postal Address
Current Physical and
6.
Domicilium Address
7. Email Address
8. Telephone
9. Cell Phone
10. Facsimile
11. SA Resident Yes No
D. Company / Close Corporation/ Trust
1. Full Name
2. Registration Number
3. Authorised Signatory
4. Postal Address
Current Physical and
5.
Domicilium Address
6. Email Address
7. Telephone
8. Cell Phone
9. Facsimile
10. SA Resident Yes No
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THE PARTIES HERETO NOW AGREE AS FOLLOWS:
1. THE PROPERTY
a. The Seller is the registered owner of the property known as the remainder of Portion 305 of Lot
192 Klippoortje Agricultural Lots and proposes to develop the said property and to establish
inter alia a sectional title complex thereon.
b. It is being recorded that application for the rezoning of the said property has been lodged at the
relevant local authority and therefore not being finalized.
c. The Seller hereby sells and the Purchaser hereby purchases UNIT NO. _______, (the “unit”) in
the proposed Sectional Title Development to be known as PARK SQUARE which will erected
on the remainder of Portion 305 of Lot 192 Klippoortje Agricultural Lots. The unit also includes
an undivided share in the common property apportioned to the unit in accordance with the
participation quota.
d. The approximate measurement of the section numbered _____________ is ___________
square meters measured to the median line of the dividing walls of such section. If upon a re-
survey of re-measurement, the extent of the land, the unit or participation quota is found not to
correspond to that set out above, then the Seller shall not be liable for any minor shortfall nor
shall it be entitled to claim compensation for any minor surplus. For purposes of this clause a
differential shall be deemed minor if it does not exceed by 5 % if the square meterage or
participation quota in question.
e. The unit is hereby sold with the specifications and schedule of finishes annexed hereto marked
Annexure A, together with the selection schedule marked Annexure B, and which unit shall be
found on the plans as shown annexed hereto marked Annexure C.
f. The agreement should be read together with all annexures attached hereto.
2. THE PURCHASE PRICE:
a. The total purchase price (including VAT) of the unit is:
R________________ (________________________________________________________)
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3. DEPOSIT PAYABLE
a. The Purchaser shall pay a non-refundable deposit in the amount to R5000.00 (FIVE
THOUSAND RAND), which amount will be deposited into the Conveyancers trust account,
which account details being: JARVIS JACOBS INC.
STANDARD BANK
ACCOUNT NR. 013 253 190
BRANCH CODE 011545
REFERENCE: SURNAME/UNIT NR.
b. The Purchaser hereby authorises Jarvis Jacobs Inc. Attorneys situated at 177 Dyer Rd,
Woodpecker Place, Hillcrest Office Park, Hillcrest, Pretoria with telephone number 012 362
5787, ref. Mr. H Raubenheimer (the “Conveyancers”) to invest any payment received in terms
of this agreement of sale under the provisions of Section 78 (2A) of the Attorneys Act, Act 53 of
1979 as amended, for the benefit of the Purchaser pending registration of transfer of the
property.
c. Should the Purchaser not require the first mortgage bond referred to in clause 4b below or in
the event of a Purchaser purchasing more than two units within this development then such
initial non-refundable deposit shall not be less than 10% (TEN PERCENT) of the total
purchase price reflected in clause 2(a) for each and every unit so purchased.
4. BALANCE OF PURCHASE PRICE
a. Balance of the purchase price is R……………………………………………………........................
(……………………………………………………………………………………………………………).
b. This Agreement of Sale is subject to the Purchaser obtaining a loan from a financial institution
within 28 (TWENTY EIGHT) days from date of signature of this Agreement of Sale by the
Purchaser, in the amount of not less than R…………………………….........................................
(…………………………………………………………………………………………………………….)
against the security of a first mortgage bond to be registered over the unit.
c. The total purchase price together with all other amounts shall be paid to the Seller on date of
transfer of the unit in the name of the Purchaser.
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d. As security for the payment of the balance of purchase price referred to in 4a above, the
Purchaser shall, within 180 days from date of signature of this Agreement of Sale by the
Purchaser, provide the Conveyancers with a bank guarantee from a financial institution,
acceptable to the Seller, which guarantees shall be expressed to be payable free of exchange.
5. INSPECTION
a. Immediately on request by the Seller and on/or before the date of occupation, a representative
of the Seller and the Purchaser shall inspect the section and the Purchaser shall point out to
the Seller any defects in the unit which defects shall be recorded in a schedule with full
particulars which shall be signed by the Purchaser and the Seller. Safe for the items recorded
in the schedule, the Purchaser shall confirm that the section has been delivered to the
Purchaser complete in all aspects and suitable in all aspects for the purposes for which it is
sold. The Seller shall furnish a copy of the schedule to the building contractor appointed by it,
who shall attend to all items within 60 (sixty) days from the date the schedule have been
completed and signed.
b. Subject to the defects referred to in clause 5a above the Purchaser agrees to accept the unit
voetstoots and the Purchaser shall have no other claim against the Seller in respect of defects
(whether latent or otherwise) in the common property or in the section.
c. In the event of any dispute as to when or whether beneficial occupation of the section has
been given, a certificate by the Seller's architect acting as expert and not as arbitrator certifying
that the section is suitable for beneficial occupation shall be final and binding on the parties
notwithstanding that the building as a whole or the common property may not have been
completed.
6. SPECIAL CONDITIONS
a. This Agreement is subject and conditional upon the Seller being able to sell 70 % of the entire
proposed development as explained in 1(a) by 31 January 2008. The Seller shall however be
entitled, in his sole discretion, to waive this condition in the event of 70 % of the development is
not sold on the aforementioned date.
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b. This Agreement is further subject and conditional upon the property being rezoned for
purposes of establishing a sectional title complex as contemplated in 1(a). The Seller shall
however be entitled, in his sole discretion, to waive this condition should he wish to accept the
zoning the relevant local authority allowed.
c. If the Seller elects not to proceed with the development, then and upon refund to the Purchaser
of the deposit paid in terms of this Agreement together with interest thereon earned, the parties
reciprocally acknowledge that they shall have no further claim the one against the other arising
here from.
d. It is being recorded that the Seller shall develop the proposed development as explained in
1(a), in phases as defined in Section 25 of the Sectional Titles Act (as amended), which the
Purchaser accepts.
7. COSTS
The Seller has undertaken to pay the costs of the transfer provided that the –
a. Purchaser appoints the Seller's bond originator, namely, Bond Choice (the “bond originators”)
to facilitate the grant of the home loan and the aforementioned mortgage bond; and
b. the Purchaser appoints the Conveyancers to attend to the registration of the mortgage bond as
defined in 4(b).
c. Should the Conveyancers not be instructed to attend to the registration of the said mortgage
bond and should the bond originators not be instructed to originate the bond, the Purchaser
shall be liable for all costs relating to the transfer of the unit into his name.
d. The Purchaser shall be liable for the cost of registration of the mortgage bond.
8. DEFAULT OF PURCHASER
If the Purchaser commits any breach of any of the provisions of this agreement and fails to
remedy same within 7 (SEVEN DAYS) after receipt of a written notice calling upon him to do
so, the Seller shall be entitled, without prejudice to any other rights which it may have at law or
in terms hereof, and at the Seller's election to -cancel this agreement, retake occupation of the
section and retain the deposit as rouwkoop for pre-estimated liquidated damages, which the
Purchaser acknowledges to be fair and reasonable, all amounts paid by the Purchaser in terms
hereof; or
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9. DOMICILIUM AND JURISDICTION
a. The Purchaser hereby selects it address as reflected in page 1 A or B as his/her/its domicillium
citandi et executandi for all purposes of this contract, including the service of all notices and
processes in connection herewith.
b. The Seller hereby selects Ground Floor, AMR 2 Building, Concorde Road East, Bedfordview
as its domicilia citandi et executandi for purposes of this agreement.
c. Notice of change of these addresses may be given by either party in writing and shall be
delivered or sent by prepaid registered post to the other.
10. MISCELLANEOUS
a. The Seller and the Purchaser hereby consent in terms of Section 45 of the Magistrate's Court
Act, No 32 of 1944, as amended, to the jurisdiction of any Magistrate's Courts having
jurisdiction over their respective persons under section 28 of the Act, to determine any action
or other legal proceedings arising out of this contract, Notwithstanding anything aforesaid, the
Seller shall not be bound to bring any action arising from this contract in or before a
Magistrate's court, but may do so in any other court of competent jurisdiction should it so wish.
b. A party shall be entitled to recover from the other party costs (as between an attorney and his
own client) incurred by the other party in exercising its rights under or enforcing the provisions
of this contract and in addition costs of attendances, whether action has been instituted or not,
and including costs of tracing.
11. OCCUPATION
a. The Seller shall notify the Purchaser of the date of occupation of the property upon written
notice, which notice shall be delivered to the Purchaser not less than 30 (thirty) days prior to
the date of occupation. Should occupation date and registration date not coincide the
Purchaser shall be liable for the payment of occupational rental calculated at 0.75 % of the
purchase price per month from date of occupation as advised by the Seller which payments
shall be made monthly in advance on the 1st day of each month.
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b. The estimated monthly levy, for which the Purchaser shall be liable from date of occupation
would be approximately R500 per unit. This amount is however dependant upon the
participation quota, and the finalised levies will only be presented at the first general meeting of
the Body Corporate.
12. POSSESSION AND RISK
a. On Transfer, possession of the Property and all the risks and benefits of ownership shall pass
to the Purchaser, from which date the Purchaser is liable for the payment of levies with respect
to the Property.
13. NOMINEE PURCHASER
a. This Agreement shall become binding upon the signatory as Purchaser, in his/her personal
capacity, and shall be obliged to fulfill all the obligations of the Purchaser in terms thereof and
to take Transfer of the Property into his/her own name, only if he/she shall not have nominated
a Purchaser (“the Nominee”) who shall validly have accepted such nomination forthwith.
b. The signatory as Purchaser hereby binds him/herself as surety and co-principal debtor with the
Nominee for the due performance by it of all its obligations in terms hereof, and agrees to sign
all documents and to bind him/herself as surety for and co-principal debtor with the Nominee
as far as it may be required by any financial institution.
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Signed by the parties on the dates and at the places set out below:
DATE PLACE
WITNESSES
PURCHASER
PURCHASER 2 (if applicable)
PURCHASER 3 (if applicable)
________________________________________
PURCHASER'S SPOUSE
(If married in community of property)
Who, by his signature hereto, warrants his capacity to enter into and sign this contract:
DATE PLACE
WITNESSES
SELLER
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APPENDIX B – FINISHES AND SPECIFICATIONS
GENERAL
All work to be in accordance with the NBR and with the standards and guidelines of the NHBRC. Items
are subject to the Architects selection. The Developer / Architect reserve the right to change the
finishes if availability affects the program
BRICKWORK
• Cement stocks internal & external
CARPENTRY
• Timber flushback front door in steel frame
• Timber flushback door to kitchen in steel frame
• Internal doors – hollowcore in steel frame
• Built-in Cupboards – select from architect’s range
KITCHENS
• As per kitchen individual kitchen plan
• Black stove and undercounter oven, Bauer or similar
• Counter tops: 20mm Rustenburg granite
ROOFING
• All roofs to be constructed with SABS approved timber trusses overlaid by plastic
• Concrete roof tiles
• All roof flashing to be overlain with approved flexible membrane
FLOOR FINISHING
• Bathroom & kitchen floors to have 1st grade local ceramic floor tiles – as per Architects range
• Remaining floor areas to be either carpeted or tiled – as per Architects range
WALL TILING
• Selection as per Architects range
• Kitchen & bathroom walls to have splashback tiling – 2 rows above sink, bath & basin
SKIRTINGS
• 50mm Pine skirting throughout except kitchen, bathrooms and garage.
WINDOWS
• All windows to be top hung steel residential type with burglarproofing to opening sections only
CEILINGS
• Gypsum board ceilings unplastered with standard cornices
METAL WORK
• All doorframes unless otherwise specified to be single rebate steel frame
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PLASTERING
• Plastered internally and externally
• Scratch plaster finish externally
PLUMBING
• 150 litre geyser x1
• Daisy basin and pedestal
• Low level Bettalux toilet suite
• Thandi 1.7m acylic type bath OR
• shower with tri-shower door – fully tiled
• All bathroom fittings in white.
• Tap fittings —Steila Brite range
ELECTRICAL
• Front door 1 light
• Back door 1 light
• Patio 1 light
• Kitchen 1 light 2 single plugs
• Diningroom 1 light 1 single plug
• Lounge 1 light 1 single plug
• Bathroom 1 light
• Bedrooms 1 light 2 single plugs
• Telephone / TV point 1 each conduits only
PAINTING
• All internal and external walls to have 2 coats PVA
