48 (2)
the area of the Land bears to the total area of the land which is the subject of the proportional land tax assessment.
Owners Corporation fees (1)
The Purchaser must bear and pay all contributions and levies paid or payable to the Owners Corporation in respect the Property in respect of the 6 or 12 month accounting period in which the Settlement Date falls (which may include a period before the Settlement Date).
(2)
If the Vendor has paid the contributions and levies referred to in Special Condition 21.6(1), the Purchaser must allow the full amount paid to the Vendor at Settlement.
(3)
If the contributions and levies referred to in Special Condition 21.6(1) are unpaid, the Purchaser must on Settlement, deliver to the Vendor, a cheque for the amount payable to the Owners Corporation (which the Vendor undertakes to deliver to the Owners Corporation).
No withholding of monies No monies may in any event be withheld from the Vendor from the balance of the Price payable under this Contract on account of any Outgoings or Land Tax which may be or may after the Day of Sale become payable in relation to the that part of the Development Land not yet developed by the Vendor or the Property. Supplementary assessment If a supplementary assessment of any Outgoings is assessed, levied or charged in respect of the Property after the date of registration of the Plan, no adjustment will be made and the Purchaser is solely responsible for payment of any such supplementary amount, levy or charge. Statement of adjustments (1)
The Vendor may prepare a statement of the adjustments to be made under this Special Condition 21 ("Statement of Adjustments"). If the Vendor does prepare the Statement of Adjustments, the Vendor will forward the Statement of Adjustments to the Purchaser or the Purchaser's legal practitioner or conveyancer at least 2 Business Days before the Settlement Date.
(2)
If the Purchaser does not object to the Statement of Adjustments within 24 hours after receipt of the Statement of Adjustments, any rectification which may be required to the Statement of Adjustments must only be made after the Settlement Date. The Purchaser must not delay completion of this Contract because of any minor error to the Statement of Adjustments.
ADDITIONAL LAND TAX LIABILITY
