1. Contract subject to Prior Sale
1.1 This Contract is subject to and conditional upon:-
a) the Buyer entering into a contract of sale (the Prior Sale Contract), on terms satisfactory to the Buyer, for the sale of their property at [ADDRESS] on or before 45 days from the Contract Date; and
b) The Prior Sale Contract becoming unconditional (insofar as it is subject to Finance, Building and Pest Inspections or any Special Conditions excluding Subject to Sale Special Conditions) within 60 days of the Contract Date of this Contract.
1.2 If the Buyer does not satisfy or waive the conditions in Special Condition 1.1 herein by 5:00pm on their respective due dates, then the Buyer may terminate this Contract.
1.3 This Contract is further subject to and conditional upon the Settlement of the Prior Sale Contract being effected on or before 90 days from the Contract Date of this Contract, or otherwise as extended under the standard terms of the Prior Sale Contract, failing which the Buyer may elect to terminate this Contract. Upon termination the Buyer will receive a full refund of the deposit paid.
1.4 If the Buyer fails to terminate or waive their rights under this Special Condition by the respective due dates, then the Seller may also terminate this Contract. Upon termination the Buyer will receive a full refund of the deposit paid.
1.5 The Settlement Date of this Contract will be contemporaneous with the settlement date of the Prior Sale Contract.