Common use of Development Restrictions Clause in Contracts

Development Restrictions. 5.1 This sale will be subject to the following conditions, which will be strictly imposed and enforced by the SELLER: 5.1.1 The development of the PROPERTY will at all times be subject to the provisions of applicable legislation, the ZLR Constitution, the Governing Rules, the Resort Guides, the Constitution of the Association and any Conduct Rules issued in terms thereof; 5.1.2 Whilst it is intended that the PROPERTY shall be developed, it is nevertheless recorded that the PURCHASER may under no circumstances seek to increase the allowable gross letting area (“bulk”) allocated to the PROPERTY, should the PURCHASER wish to increase the footprint of any proposed structures on the PROPERTY; 5.1.3 The PURCHASER will construct strictly in accordance with a proposed site development plan to be approved by the SELLER; 5.1.4 The PURCHASER will construct sufficient parking bays on the PROPERTY to adequately serve any development on the PROPERTY, and will moreover ensure suitable vehicular ingress and egress from the PROPERTY; 5.1.5 It is recorded that the construction and operation of any retail or other development may require special consent from the Local Authority. The approval or rejection of such an application for special consent shall not be a condition of this Agreement and the PURCHASER shall conduct such application process at its own risk and at its own cost; 5.1.6 In the event that the PURCHASER, or any subsequent owner of the PROPERTY, elects to sell the entire PROPERTY or to convert components thereof into a Sectional Title Scheme, such owner at the time shall: 5.1.6.1 be obliged to make use of the agreements of sale provided by the SELLER when selling the PROPERTY or any sectional title UNIT in the Scheme developed on the PROPERTY; 5.1.6.2 make use of the CONVEYANCERS to attend to the opening of the Sectional Title Register, if applicable, in respect of the Scheme developed on the PROPERTY, and to attend to the transfer of either the PROPERTY as a whole, or all sectional title Units sold to prospective purchasers thereof; 5.1.6.3 cede and delegate the functions and powers of the Body Corporate to be established for any such Scheme then developed on the PROPERTY to the Association in terms of the ACT. 5.2 The restrictions in 5.1 above has been inserted to protect the quality and standard of real estate and convenience offerings in the RESORT, to enforce and protect the interests of the ZLR and the Association, and to ensure that the requisite title conditions are created in the RESORT’s title deeds and constitutional documentation.