Sale And Purchase Agreement Page 15
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24THE SCHEDULE – continued
FORM E
12.5
Liquidated damages under clause 12.4 are to be calculated on a daily
basis at the rate of 10% per annum on the total sum of all the instalments
paid by the Purchaser towards the Purchase Price, and shall run from the
day immediately after the Transfer Date until the Purchaser receives a
Notice of Vacant Possession from the Vendor in respect of the Unit.
12.6
Any liquidated damages payable to the Purchaser under clause 12.4 may
be deducted from any instalment of the Purchase Price due to the
Vendor.
13.
Maintenance Charges
13.1
The Purchaser shall pay to the Vendor maintenance charges for the
maintenance of the common property of the Housing Project and any
limited common property which the Purchaser is entitled to the benefit of,
and for the provision of cleaning and other services from -
(a)
the date the Purchaser actually takes possession of the Unit; or
(b)
the 15th day after the Purchaser receives the Notice of Vacant
Possession in respect of the Unit,
whichever is the earlier.
13.2
The amount of the maintenance charge shall be as approved by the
Commissioner of Buildings.
13.3
The Purchaser must also pay to the Vendor all goods and services tax
charged by law on the supply of maintenance, cleaning and other
services referred to in clause 13.1.
13.4
The maintenance charges for the first 6 months and the goods and
services tax in relation to those charges are to be paid in advance in one
lump sum, and are subsequently to be paid quarterly in advance.
13.5
The Purchaser need not pay the maintenance charge and any goods and
services tax relating to it once the management corporation of the
Housing Project takes over from the Vendor the function of maintaining
the Housing Project and the provision of cleaning and other services.
13.6
If any part of the maintenance charge or goods and services tax is not
paid at the end of 14 days after it is due, the Purchaser must then pay
interest calculated on a daily basis at 2% above the Base Rate on such
unpaid amount until such time as it is paid.
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