CONTRACT by reference to the Standard Conditions of Sale by houseinmycloset

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									BARNETT ROSS AUCTION
SPECIAL CONDITIONS OF SALE
23 FEBRUARY 2006

                      LOT 13 – 19-23a Highbury Grove London N5 (“the Property”)

1.        The Interpretation Act 1976 shall apply to this contract as if this contract were an Act of
          Parliament

2         All the terms of the agreement between the parties shall be deemed incorporated herein

2.1       Any statement whether made verbally or by or on behalf of the Seller shall not be deemed a
          term or condition of this contract nor amount to a representation or warranty inducing the
          same (other than such as has been given by the Vendor's solicitor in any written reply to
          any enquiry made by the Buyer's solicitors

2.2       The terms and conditions of this Contract shall not merge in the transfer of the Property to
          the Buyer but shall continue in full force and effect in regard to anything remaining to be
          done performed or observed on the part of the Buyer or the Seller for a period of eighty
          years from the date hereof

3.        The Property is freehold and is known as 19-23a Highbury Grove Islington London N5
          in the London Borough of Islington and registered at HM Land Registry with title
          absolute being part of title number 258656. The Transfer shall be made by reference to
          the plan attached herewith with the Property edged red

3.1       The Property is vacant and sold with vacant possession on completion and the Buyer
          having inspected the Property shall take the same in its present condition and the Seller
          shall not be required to remove any rubbish or debris in order to give vacant possession

3.2       If the Property is or becomes the subject of unauthorised occupation at the date hereof
          or at any time prior to completion, the Seller will use all reasonable endeavours to
          obtain vacant possession and give written notice to the Buyer of the anticipated date of
          re-possession when completion shall take place. The Buyer shall accept the Property in
          such state and condition as it is at the time of completion

3.3       If vacant possession has not been obtained within three months of the completion date
          thereafter prior to notice of receipt being given either party may rescind this Agreement
          by written notice to the other party or its solicitors and neither party shall be entitled to
          any sums in respect of costs, compensation or otherwise and the Seller will return the
          deposit to the Buyer without interest

3.4       The Property has been the subject of extensive structural and underpinning works (“the
          Works”) completed on 9 December 2005. The Property has also been the subject of
          general refurbishment works. Under the Building Contract for Works (“the Building
          Contract”) the Seller has the benefit of a 1 year warranty (“the Defects Period”) in
          respect of all damage arising as a consequence of structural and underpinning works
          carried out to the Property by the Seller’s Building Contractors (“the Building
          Contractors”).

3.5       The Seller shall not assign the benefits accorded to it under the Building Contract on
          completion. The Defects Period expires on 9 December 2006 and the Buyer shall have
          the right to notify the Seller of any damage caused to the Property as a consequence of
          the Works and the Seller shall pursue the Building Contractor to remedy the damage


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          PROVIDED THAT notification is received by 10 November 2006. The Seller reserves
          the right not to pursue the Building Contractors and the Buyer shall not hold the Seller
          liable for any defects arising out of the Works.

3.6       Before approaching its Building Contractors in pursuance of Clause 3.5 the Seller shall
          satisfy itself as to whether or not damages have arisen as a result of the Works. Should
          the Seller decide to enforce the terms of the Defects Period the Buyer shall indemnify
          and keep the Seller indemnified against all costs losses claims demands actions
          proceedings damages or expenses or other liability arising from pursuing the Building
          Contractors

3.7       Within 28 days after completion has taken place the Seller shall pass on to the Buyer all
          certificates any other guarantees and in its possession capable of being assigned relating
          to the refurbishment works carried out at the Property. The Seller shall not be held
          liable or be compelled to produce any certificates or documentation relating to the
          Works on expiry of this period

3.8       The Seller sells with full title guarantee

4         The Buyer shall not be entitled to require the Seller to transfer the Property otherwise than
          to the Buyer or by more than one transfer and / or at a price greater than that specified in
          the General Conditions

5.        Without prejudice to Standard Condition 3.1.2 the Property is sold subject to:

          5.1        All matters noted or referred to in the Registers for Title Number 258656 insofar as
                     the same apply to the Property and are still capable of having effect

          5.2        All matters registered in the local land charges register for the Property or anything
                     that might be revealed by enquiry of any local planning or other authority
          5.3        All matters in the nature of overriding interests

          5.4        All notices served and orders demands proposals or requirements made by any local
                     or other public or competent authority

          5.5        All actual or proposed orders directions plans notices instruments charges
                     restrictions conditions agreements or other matters arising under any statute
                     relating to town and country planning and any laws and regulations intended to
                     control or regulate the construction demolition alteration or change of use of land
                     or buildings or to preserve or protect the environment

          5.6        The Buyer shall be deemed to purchase with full knowledge and notice of such
                     matters and shall not raise any objection or requisition in relation thereto

6.        The Seller reserves the right to deal with any part of its adjacent or neighbouring property
          as it thinks fit without consulting the Buyer provided that it does not thereby prejudicially
          interfere with any right or easement enjoyed by the Property subsisting hereunder

7.        In addition to the purchase price, the Buyer shall pay to the Seller on the date of
          completion:-

          7.1        the Seller’s legal and surveyors’ costs and the auctioneer’s sale commission
                     equivalent to 3.75% of the sale price



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          7.2        the sum of £195 representing the cost of providing a local land charges certificate
                     and replies to enquiries of local authority

8     It is hereby declared by the Seller that the additional sums payable by the Buyer pursuant to
      clause 7 above constitute charges for services provided by/to the Seller or on behalf of the Seller
      and these charges neither form part of the purchase price nor represent capital receipts

9     In addition to any foregoing variations the Standard Conditions of Sale (Fourth Edition) shall
      be varied as follows:-

          9.1        Condition 5.1.1 and 5.1.2 shall be deleted

          9.2        Condition 6.1.1 shall be deleted

          9.3        In Condition 6.8.2 “five working days” shall be substituted for “ten working days”

10.       The Transfer to the Buyer shall contain the following exceptions and reservations in favour
          of the Seller

          10.1       The right at any time to erect or suffer to be erected any building or other erections
                     and to alter any building or other erections now standing or hereafter to be erected
                     on any part of the Seller’s adjoining or neighbouring land in such a manner as to
                     obstruct or interfere with the passage of light or air to any building which is or may
                     be erected upon the Property

          10.2       The free and uninterrupted passage and running of water soil gas and electricity
                     coming from or to any buildings or lands of the Council adjoining or neighbouring
                     to the Property in over and through the conduits wires heating systems drains
                     watercourses pipes and cables which may at any time within 80 years of the date
                     hereof be in or upon or under the Property

          10.3    The right to enter upon any part of the Seller’s adjoining or neighbouring land for
                  the sole purposes of laying installing renewing repairing maintaining and keeping
                  in good order and condition apparatus referred to in Clause 11.5 hereof
                  PROVIDED ALWAYS that such a right shall be exercised without causing
          inconvenience to the Buyer or its tenants or other occupiers of the Property and the
          Seller shall make good all damage caused


          10.4       The right to deal with any part of its adjoining or neighbouring land as the Seller
                     thinks fit and the right at anytime within 80 years of the date hereof of support for
                     the adjoining or neighbouring land of the Seller or its successors in title from the
                     Property and any dwellings erected or to be erected thereon

11        The Transfer to the Buyer will contain the following rights for the Buyer in common with
          the Seller and all other persons entitled thereto

          11.1       The free and uninterrupted passage and running of water soil gas and electricity
                     through the drains watercourses pipes cables conduits wires and heating systems in
                     upon or under any adjoining or neighbouring premises so far as at present enjoyed

          11.2       The right of support for the Property from any adjoining or neighbouring land of
                     the Seller



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          11.3       All such rights easements and quasi easements as now exist and are enjoyed or
                     intended to be enjoyed for the benefit of the Property

          11.4   The right on foot and with vehicles for the purposes of access and egress to and
              from      the Property over the area hatched in blue on the plan annexed to this
              agreement

          11.5   The right to enter upon any part of the Seller’s adjoining or neighbouring land for
                 the sole purposes of laying installing renewing repairing maintaining and keeping
                 in good order and condition apparatus referred to in Clause 11.1 hereof
                 PROVIDED ALWAYS that such a right shall be exercised without causing
          inconvenience to the Seller or its tenants or other occupiers of its adjoining or
          neighbouring land and the Buyer shall make good all damage caused

12        In the event of a notice to complete being served by the Seller’s solicitors because of the
          Buyer’s failure to complete on the contractual completion date the Buyer shall upon
          completion in addition to all other sums then payable to the Seller pay the sum of £150
          towards the costs of the Seller of and incidental to the preparation and service of the notice

12.1      The contract rate for the purpose of this agreement shall be 3% above the base rate for the
          time being of the Co-Operative Bank PLC

13        No term of this Special Conditions of Sale creates or is intended to create by virtue of the
          Contracts (Rights of Third Parties) Act 1999 any right or remedy enforceable against a
          party to it by any other person provided that all and any rights and remedies of whatever
          nature which any such person might have or acquire in relation to or arising out of this
          Special Conditions of Sale otherwise than by virtue of the above Act shall be unaffected by
          this clause 13

14        The Buyer shall ensure that all deposit monies and all further sums due after exchange of
          contracts shall be paid in Pounds Sterling

15        The Seller shall upon completion be entitled to a duplicate of the Transfer and the Buyer
          shall return the duplicate to the Seller within four weeks of completion

16        The security alarm and panels fitted to the Property (if any) are not in the ownership of the
          seller and are accordingly excluded from the sale

17       The Transfer to the Buyer shall contain declarations that:

17.1     The covenant implied by paragraph 1(b) of Section 2 of the Law of Property(Miscellaneous
         Provisions) Act 1994 is limited so that any costs incurred by the Seller in complying with the
         Paragraph shall be the responsibility of the Buyer.

17.2      The words “at his own cost” in Section 2(1)(b) of the Law of Property (Miscellaneous
          Provisions) Act 1994 are replaced by the words “at the Buyer’s cost”.

17.3      The Transfer is made pursuant to the power contained in Local Government Act 1972

18.       The transfer shall contain the following covenant on the part of the Transferee:-

18.1   The Transferee hereby covenants with the Transferor that the Property shall not be
    used
       at the date of completion of the purchase as the Transferee’s sole or principal residence


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          but that it is hereby agreed and declared that this covenant shall be personal to the
          Transferee and not intended to bind or run with the property hereby transferred
19.       In the event of any conflict between the Standard Conditions, the General Conditions, and
          the Special Conditions the Special Conditions shall prevail

20.       The Seller’s Solicitor is Louise Round, Director of Law and Public Services, Islington
          Council, Town Hall, London N1 2UD (DX Upper Islington) telephone 0207 527 3103
          reference LE/CVG/AEN




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