This contract is subject to and conditional on the Buyer being satisfied prior to settlement in their absolute discretion that the Property has no history of flooding or is not at risk of flooding prior to Settlement. In the event that the Buyer establishes that the Property has a history of flooding or is at risk of flooding in the future then the Buyer may terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and this contract shall be at an end and the deposit must be promptly refunded to the Buyer without deduction.

The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.

Acknowledgement of Flooding

The Buyer acknowledges that he has been advised by the Seller’s agent that the property herein sold has been flood affected in the past and that the Buyer is relying on the Buyer’s own judgment in entering into this contract and shall not raise any requisition or objection to the title of the Seller or in pursuance of any other condition of this contract in respect of the fact that the property has been flood affected.