Sale And Purchase Agreement Page 19
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24THE SCHEDULE – continued
FORM E
18.3
Where, on completion of a title survey as approved by the Chief
Surveyor, the area of the Unit on resurvey by the Government is less than
the area stated in this Agreement, the Purchase Price is to be reduced as
follows :
Deficiency
Reduction
(a) Not more than 3% of the
No reduction
area
stated
in
this
Agreement
(b) More than 3% of the area
Reduction
at
$(Unit
Purchase
stated in this Agreement
Price)
per
square
metre
of
deficiency which is in excess of
3% of the area stated in this
Agreement.
Any adjustment of the Purchase Price under this clause shall be made on
Completion Date and may be deducted from any instalment of the
Purchase Price due to the Vendor under item 4 of the Payment Schedule
or clause 5.4, as the case may be.
18.4
The Vendor does not have the right to any adjustment in the Purchase
Price if, on completion of the title survey as approved by the Chief
Surveyor, it is discovered that the area of the Unit is more than the area
stated in this Agreement.
18
Taxes
19.1
After the Purchaser receives from the Vendor a Notice of Vacant
Possession in respect of the Unit, the Purchaser must pay for all property
tax and other outgoings levied in respect of the Unit, and must on
demand reimburse the Vendor for all such property tax and outgoings
which may have been paid by the Vendor after the date of receipt of the
Notice of Vacant Possession.
19.2
Where any property tax and other outgoings levied in respect of the Unit
before the date of receipt of the Notice of Vacant Possession have been
paid by the Purchaser, the Vendor must on demand reimburse the
Purchaser for all such property tax and outgoings apportioned up to (and
including) that date.
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