RECONFIGURATION OF LOT (1 lot into 2 – under 5 in total)
This Contract is subject to:
1. The Seller receiving approval from the xxxxxxxx Council for the Development Application for reconfiguration of a lot in respect of the subject land and sealing the plan of the subdivision/reconfiguration annexed and marked with the letter “A” on terms and conditions satisfactory to the Seller and Buyer.
2. In the event that the Seller does not receive a satisfactory decision notice approving the development and sealing of the plan from xxxxxxx Council within 90 days of the contract date, either party may give notice to the Seller terminating this Contract and in such event all deposit moneys shall be refunded in full to the Buyer and no claim made against the Seller.
3. The Seller warrants, that upon receipt of the Approval and Sealed Plan, it will lodge all necessary documents, without delay, to ensure registration of the Plan at Department of Natural Resources & Mines. The Seller will notify the Buyer the date of lodging at the Department of Natural Resources & Mines from which the contract is subject to and conditional upon the registration of the Plan and creation of separate title to the lot on or before 30 days from date of this advice to the Buyer. In the event that registration of the Plan is not effected by this date, or relevant extensions agreed upon between the parties, the Buyer may give notice to the Seller terminating this Contract and all deposit moneys paid shall be refunded in full to the Buyer without deduction.
4. Settlement of this Contract will be 14 days from the date of Seller’s notice to the Buyer that registration has been effected and separate title has been created.