Common use of Settlement Items Clause in Contracts

Settlement Items. The Developer shall deliver to the Development Vehicle on or before the Settlement Date: a certified copy certificate of Practical Completion for the Phase; a Notice of Acceptance of Completion Certificate issued by the relevant local authority under the Bu▇▇▇▇▇▇ (▇▇▇▇▇▇▇▇) ▇▇▇ ▇▇▇▇ ▇or each building warrant in respect of each Unit and/or Phase which is Practically Complete; certified copies of all Consents; a certified copy of any road bond and any roads construction consent; a NHBC warranty acceptance pack (relative to Buildmark structural defects cover or equivalent) or, where previously specified by the Developer to the Development Vehicle, an alternative, in each case for each Unit in the relevant Phase which is Practically Complete; an agreed Snagging List for each Phase (detailing the Snagging for each Unit and the Common Parts) which is Practically Complete; all energy performance certificates required for the relevant Phase; Retention Bond in respect of the relevant Phase, if the Development Vehicle has not waived this requirement; and evidence of the putting in place of the buildings and landlord contents insurance required by paragraph 2.1 of Part 7 of the Schedule to the Management and Maintenance Agreement. The Developer shall deliver to the Development Vehicle on the Settlement Date a Certificate of Title for the Phase which is Practically Complete, prepared by the Developer’s solicitors in compliance with the following requirements: addressed to the Development Vehicle and the Local Authority; demonstrating good and marketable title; (irrespective of any Planning Agreement disclosed in the Certificate of Title delivered in accordance with paragraph 1.1 of Part 3 of the Schedule, or of any Planning Agreement coming into force after the date of that certificate) disclosing no Planning Agreement; (irrespective of any title conditions or burdens disclosed in the Certificate of Title delivered in accordance with paragraph 1.1 of Part 3 of the Schedule) disclosing no title conditions or burdens inconsistent with the use and occupation of the Phase for domestic purposes and/or as residential dwelling or any other title conditions or burdens which in the reasonable opinion of the Development Vehicle are unduly onerous; making no disclosures against (i) the certificate of title; or (ii) against paragraphs 1, 2, 3, 4, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 26 or 27 of part 3 of the schedule to the certificate of title (or if SFT have approved an alternative form of certificate to the form annexed, making no disclosures against substantially similar statements contained in the alternative form of certificate); disclosing a Legal Report brought down to a date as near as practicable to the Settlement Date which will show (i) no entries adverse to the Developer’s interest in the relevant Phase and (ii) no Advance Notices other than those submitted by the Development Vehicle. The Developer’s solicitor should also provide evidence that an Advance Notice for the Disposition has been accepted by the Keeper on or prior to the date of the Legal Report (such Advance Notice having effect for 35 days from the date of the Legal Report); disclosing any leases, wayleave agreements and/or servitudes with utility providers or statutory undertakers relative to or affecting the Site and if any, confirming that the terms are reasonable, standard and generally acceptable for the use and occupation of the Phase for domestic purposes and/or as private residential dwellings; disclosing that reasonable, standard and acceptable community burdens have been created for the benefit of each Unit within the Phase by virtue of the prior registration in the Land Register of Scotland of a residential deed of conditions against the Site and specifically: the mutually enforceable rights and obligations granted to each Unit within the Phase; that the owner of each Unit within the Phase benefits from rights of common property in and to the Common Parts; that the owners of any Unit within the Phase are prohibited from disposing a pro indiviso share in any Common Parts within the Phase separately from the Unit; and that the identity of none of the Common Parts is dependent on an uncertain future event. The Developer shall deliver to the Development Vehicle on or before the Settlement Date: the Disposition together with details of particulars of execution; registration dues payable on registration of the disposition of the relevant Phase in favour of the Development Vehicle in the Land Register of Scotland; validly executed discharge(s) of all standard securities affecting the relevant Phase together with properly completed application(s) for registration and evidence of payment of the registration dues; and a letter of non-crystallisation from the holders of any floating charges over the Developer’s assets releasing the Phase from the charge dated no earlier than 7 Business Days prior to the Settlement Date in a form satisfactory to the Development Vehicle (acting reasonably). From the Effective Date until the Settlement Date, the Developer shall, for each Unit and the Common Parts (or a Phase), take out and maintain insurance (with a reputable insurance company) in respect of the Development and the Site for the full reinstatement value from time to time against the Insured Risks. In addition to the insurance referred to in paragraph 3.1, the Developer shall take out and maintain: Employers Liability insurance to the value of at least £5 million and Public Liability insurance to the value of at least £5 million; and such other insurances in accordance with Good Industry Practice. All insurance monies received by the Developer in respect of the Development shall be applied for the purpose of repairing or otherwise reinstating the Development and the Site following damage by an Insured Risk. At the request of the Development Vehicle, the Developer shall produce to the Development Vehicle evidence that the insurance referred to in paragraphs 3.1 and 3.2 has been effected. The Developer shall comply with the requirements of the insurer under the policy or policies.

Settlement Items. The Developer In the event that the Unit is a new build Unit, the Local Authority shall deliver the following (or such equivalent or alternative comfort as is agreed between the parties, all parties acting reasonably) to SFT and the LLP on or prior to the Development Vehicle on or before Settlement Date for each Unit,(or Development, as the Settlement Date: a certified copy certificate of Practical Completion for the Phase; case may be): a Notice of Acceptance of Completion Certificate issued by the relevant local authority under the Bu▇▇▇▇▇▇▇▇ (▇▇▇▇▇▇▇▇) ▇▇▇ ▇▇▇▇ ▇or for each building warrant in respect of each Unit and/or Phase (or Development, as the case may be) which is Practically Complete; certified copies Complete or other evidence that the Unit has been passed for issue of all Consents; a certified copy Notice of any road bond Acceptance of a Completion Certificate by the relevant local authority and any roads construction consentthat the Notice will in due course be issue by the relevant building control authority; a NHBC warranty acceptance pack (relative to Buildmark structural defects cover or equivalent) or, (but only where NHBC is relevant for the Unit or Development concerned) or where previously specified by the Developer LLP an Architect’s Certificate addressed to the Development Vehicle, an alternativeLLP, in each case for each Unit in the relevant Phase Unit (or Development, as the case may be) which is Practically Complete; an certified copies of any agreement in terms of the Town & Country & Planning (Scotland) Act, 1997 and all Consents; the agreed Snagging List (if any) for each Phase Unit (or Development, as the case may be) (detailing the Snagging for each Unit and the Common Parts) which is Practically Complete; all energy performance certificates required a Land Certificate for the relevant Phase; Retention Bond Unit (or Development, as the case may be) (in respect paper or electronic format) containing no exclusion of indemnity in terms of the relevant PhaseLand ▇▇▇▇▇▇▇▇▇▇▇▇ (▇▇▇▇▇▇▇▇) ▇▇▇ ▇▇▇▇, if s 12(2) with all necessary links in title evidencing the Development Vehicle has Local Authority’s exclusive ownership together with (i) a form 12 report brought down to a date not waived this requirement; and evidence of the putting in place of the buildings and landlord contents insurance required by paragraph 2.1 of Part 7 of the Schedule more than three working days prior to the Management and Maintenance Agreement. The Developer shall deliver to the Development Vehicle on the Settlement Date a Certificate of Title for the Phase which is Practically Complete, prepared by the Developer’s solicitors in compliance with the following requirements: addressed and showing no entries adverse to the LLP’s interest to be registered in the Land Register as registered proprietor of the Unit or Development Vehicle and the Local Authority; without exclusion of indemnity under s. 12 (2) demonstrating a good and marketable title; (irrespective , all in terms reasonably acceptable to the LLP and SFT together with evidence of any Planning Agreement disclosed in the Certificate of Title delivered in accordance with paragraph 1.1 of Part 3 of the Schedule, discharge or of any Planning Agreement coming into force after the date of that certificate) disclosing no Planning Agreement; (irrespective variation of any title conditions or burdens disclosed in the Certificate of Title delivered in accordance with paragraph 1.1 of Part 3 of the Schedule) disclosing no title conditions which if not varied or burdens discharged would be inconsistent with the use and or occupation of the Phase Unit (or Development, as the case may be) for domestic purposes and/or as residential dwelling or any other title conditions or burdens which in the reasonable opinion of the Development Vehicle LLP and/or SFT are unduly onerous; making no disclosures against (i) the certificate of title; or (ii) against paragraphs 1, 2, 3, 4, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 26 or 27 of part 3 validly executed Disposition in favour of the schedule to LLP for the certificate of title relevant Unit (or if SFT have approved an alternative form of certificate to Development, as the form annexed, making no disclosures against substantially similar statements contained in the alternative form of certificate); disclosing a Legal Report brought down to a date as near as practicable to the Settlement Date which will show (icase may be) no entries adverse to the Developer’s interest in the relevant Phase and (ii) no Advance Notices other than those submitted by the Development Vehicle. The Developer’s solicitor should also provide evidence that an Advance Notice for the Disposition has been accepted by the Keeper on or prior to the date of the Legal Report (such Advance Notice having effect for 35 days from the date of the Legal Report); disclosing any leases, wayleave agreements and/or servitudes with utility providers or statutory undertakers relative to or affecting the Site and if any, confirming that the terms are reasonable, standard and generally acceptable for the use and occupation of the Phase for domestic purposes and/or as private residential dwellings; disclosing that reasonable, standard and acceptable community burdens have been created for the benefit of each Unit within the Phase by virtue of the prior registration in the Land Register of Scotland of a residential deed of conditions against the Site and specifically: the mutually enforceable rights and obligations granted to each Unit within the Phase; that the owner of each Unit within the Phase benefits from rights of common property in and to the Common Parts; that the owners of any Unit within the Phase are prohibited from disposing a pro indiviso share in any Common Parts within the Phase separately from the Unit; and that the identity of none of the Common Parts is dependent on an uncertain future event. The Developer shall deliver to the Development Vehicle on or before the Settlement Date: the Disposition together with details of particulars of execution; registration dues payable on registration of the disposition of the relevant Phase in favour of the Development Vehicle in the Land Register of Scotland; validly executed discharge(s) of all standard securities affecting the relevant Phase Unit (or Development, as the case may be) together with properly completed application(s) for registration and evidence of (where relevant) pre-payment of the registration dues; and a letter signed Letter of non-crystallisation Obligation from the holders Local Authority in the style recommended by the Law Society of any floating charges over Scotland; (where not evidence in the Developer’s assets releasing Land Certificate and/or the Phase form 12 report) evidence of the putting in place of all rights of wayleave and rights of servitude on standard terms for a development of the nature of the Unit (or Development, as the case may be) insofar as required in order to take access to and egress from the charge dated no earlier than 7 Business Days prior Unit (or Development, as the case may be) and all Units within the Development, to provide all standard service media to each Unit within the Development and to provide any other ancillary rights in favour of each Unit within the Development, as are normally provided for units of that nature, all on terms and conditions acceptable to the Settlement Date in a form satisfactory to the Development Vehicle LLP and SFT (both acting reasonably). From ; (where not evidenced by the Effective Date until Land Certificate and/or the Settlement Dateform 12 report) evidence of the putting in place of a valid and binding deed of conditions in standard terms for a development of the nature of the Unit (or Development, as the Developer shall, for case may be) and which will include:- all ancillary rights required by owners of each Unit to access and use that Unit and to have rights in common and/or recognise that they will be obtaining rights of property in common to all Common Parts; and a prohibition on owners of any Unit disposing of a pro indiviso share in any Common Parts within the Unit (or Development, as the case may be) separately from the Unit, so that at all times all such pro indiviso shares in the Common Parts of the Unit (or a Phase)Development, take out and maintain insurance (as the case may be) which were initially disponed with a reputable insurance company) in respect of Unit continue to be held along with the Development and the Site for the full reinstatement value ownership from time to time of that Unit and not within separate ownership); all on terms and conditions acceptable to the LLP and SFT (both acting reasonably); all energy performance certificates required for the relevant Unit (or Development, as the case may be); completed Forms 1, 2, 3, (as appropriate) with relative Form 4, in the LLP’s name and for its use; searches in the Companies and Charges Register or equivalent of all companies disclosed in the Land Certificate or form 12 report as owner or former owner of the Unit or Development within the prescriptive period ending on the Settlement Date and brought down in each case to a date not less than 22 days after the date of recording or registration in the Register of Sasines or Land Register as relevant divesting the company concerned of its interest and disclosing no entry prejudicial to the LLP’s interest searches against the Insured Risks. In addition Local Authority; a certified copy Certificate of Practical Completion for the Unit (or Development, as the case may be); names and current addresses of the prospective tenants who have committed to renting the insurance referred to in paragraph 3.1, the Developer shall take out and maintain: Employers Liability insurance to the value of at least £5 million and Public Liability insurance to the value of at least £5 millionUnits; and such other insurances in accordance with Good Industry Practice. All insurance monies received by the Developer in respect of the Development shall be applied for the purpose of repairing or otherwise reinstating the Development and the Site following damage by an Insured Risk. At the request of the Development Vehicle, the Developer shall produce to the Development Vehicle evidence that the insurance referred to in paragraphs 3.1 and 3.2 has been effected. The Developer shall comply with the requirements of the insurer under the policy or policiesup-to-date Asset Management Plan.