NC Infrastructure deed signed

 

6.2

7.1

7.2

7.3

to Clause 4.3 the whole amount of the payment of contributions (if any) not paid
by the Proponent or Owner.

Application of money

The Council may apply any sum recovered or received by it pursuant to Clause
6.1 (rights of the council on default) as far as the sum may extend to or towards
all or any one or more of the following:

(a) reduction or discharge of the payments or contribution payable by the
Proponent or Owner under this Deed; and

{b) reimbursing itself for the cost of works done and for any damages
suffered by it.

NOVATION OF DEED UPON SALE
Sale of the Subject Site

The Owner and any future owner must not sell or transfer the Subject Site prior
to the performance and fulfilment of the Special Conditions in item 6 except
subject to the condition that the purchaser (in this clause called “the
Purchaser’) shall enter into a deed of novation of this Deed or a replacement
Deed with the Council, whereby the Purchaser becomes contractually bound to
the Council to perform and comply with the Special Conditions, or such of them
as remain unperformed or unfulfilled by the Owner at the time of such sale.

Owner to remain liable

In the event that the Owner sells or transfers the Subject Site otherwise than in
compliance with Clause 7.1 the Owner must perform and fulfil the Special
Conditions at such time or times as the Council stipulates, even if the time or
times otherwise appointed for such performance and fulfilment have not then
arrived.

Release from Liability

In the event that the Purchaser enters into a deed of novation or such further
deed or agreement which contractually obliges the Purchaser to the Council to
perform the Covenants, the Owner shall be forever released from the Special
Conditions or any further liability pursuant to this Deed or otherwise arising
from its subject matter and the provisions of this clause may be pleaded as a
bar to any proceedings brought by the Council.

RECONFIGURATION OF THE SUBJECT SITE

Reconfiguring and compliance
If the Subject Site is reconfigured under the provisions of the SPA and the
obligations under clause 4.3 and the Special Conditions of this deed have been

Satisfied, then this deed no longer remains attached to the reconfigured lots
and the Owners of the reconfigured lots are not bound by this deed.

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