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Civil Engineering

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Oct 30, 2023

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29 September 2023 To: Peter Clark and Louise Clark From: Shannon Lim RE: Purchase of 16 Junction Street, Summer Hill NSW 2130 Dear Mr and Mrs Clark, Thank you for your instructions and request for advice for the purchase of 16 Junction Street, Summer Hill NSW 2130 (the ‘ property ’). We have reviewed the draft contract of sale, including the special conditions, certificates and documents that have been enclosed. Please see below for the key findings and advice. 1. Vendor disclosure The vendor has annexed the below documents to the contract: Property Certificate; Deposited plan; Section 10.7(2) planning certificate under Environmental Planning and Assessment Act 1979 (NSW); Additional information included in that certificate under section 10.7(5); Drainage Diagram; Sewer Reference Sheet; Survey Report; Cooling-Off Certificate; Section 47 Land Tax Certificate; and ATO Clearance Certificate. We can confirm that the vendor has the current title to the property as the name in the title search and survey report align with the name in the Contract. There should be no issues in transferring title. We also confirm that the property is the property that you are seeking to purpose as the address in the Contract aligns with the address stated in the deposited plan and the survey report. 2. Matters of concern arising from the documents disclosed Please note the following as a key consideration that should be evaluated prior to purchasing the property. There is a semi-detached brick and weatherboard cottage with an iron roof on the property. Behind the cottage is a brick W.C and in the backyard is a brick garden shed that encroaches over the boundary by 0.36 metres. The brick garden shed and fencing is slightly uneven but generally correct. If further development is contemplated on or near boundaries then survey marks must be placed. The contract specifies a special condition where anything revealed in the Ivan Measure survey conducted on September 30 2023, cannot serve as the basis for raising any objection, requisition or claim for compensation. OFFICIA L
3. Important contract conditions Please note the following conditions: The value of the contract is 10% of the purchase price (Clause 2); The date of completion of the contract is 42 days after the date of the Contract. After this date has lapsed, either party may serve upon the other party a notice to complete (clause 15); The vendor can terminate the contract by notice if you fail to comply with the Contract. If this occurs, the vendor is entitled to keep the deposit, hold any other funds which have been paid to them and give them a right to pursue a claim (clause 9); There are limited circumstances where either party can rescind the Contract, and may only be available by notice (clause 19) The following special conditions must be noted: Notice to complete issued must be completed within 14 days (clause 33) If a party dies or becomes incapacitated, either party can terminate the contract but giving notice, in writing (clause 34) You agree that you were not introduced to the vendor, or the property, by any agent other than the agent nominated as vendor’s agent in this contract (clause 35) you agree that you haven’t relied on any statements other than what’s written in the contract. You have conducted your own inspections and investigations of the property and its condition and that you’re purchasing the property at it as it currently stands (clause 36) if you do not settle within 42 days after signing the contract (clause 15), the interest payable is charged at 10% per annum until actual completion (clause 37) You agree not to object, requisition or claim for compensation on anything disclosed in the Ivan Measure survey dated 30 September 2023 (clause 38) 4. Recommended searches and enquiries Please complete the following searches and enquiries before entering the contract. Building inspection; Valuation; Pest inspection; and Zoning, use and noise enquiry. Please complete the following searches and enquiries after entering the contract to reveal all matters affecting the title to the land: An Environmental planning scheme; A Proclamation restrictive of its use; and A Proposal for resumption or partial resumption. 5. Intended use of the property OFFICIA L
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