000A88A4.10E.tif · 132003.221037

46/89/2083 = ip:ag PETRAC + 383S6Re4 NO.358

4.
(includ

3.

6.

4 --

adult and larval mosquitos and biting midges on the North Shore or the gum of
$3,000.00 per annum as adjusted for increases in the Consumer Pace Index from the
date of the approval which ever is the lesser. Such payments shall commence from
the date of occupation of the first stage of the resort development.

() BONDS

To secure to the Council the due performance aud fulfilment by the Applicants of the
provisions of this Deed, the Applicants shall provide at theix own expense and cost in
favour of the Council the following bonds by a trading bank (hereinafter called "the
obliger") providing for the payment to the Council by the obliger of the
uadermentioned sums upon receipt by the obliger of a Certificate signed by the Shire
Clerk for the time being of the Council that the Applicants have defaulted in the due
performance of any or all of thei obligations as herein contained ;

   

@) Thesumof ONEHUNDRED THOUSAND DOLLARS
to be provided forthwith upon the execution of this Deed.

@®) = The ficther sum of FIVE HUNT WUSAND DOLLARS
($500,000.00) to be provided prior to the issue of approval for the
commencement of any earthworks or building works.

   

    

The Council acknowledges that the amount of such bonds as aforesaid may be reduced
from time to time at the discretion of Comeil by appropriate amounts to be determined
by the Council in proportion to the works completed at cach successive stage of the
development,

All costs of and incidental to the preparation, execution and stamping of this Deed
ing all stamp duty hereon) shall be paid by the Applicants.

@) The Applicants shall not sell or transfer or assign the land or part thereof or its
interests rights and obligations under this Deed prior to its compliance with the
provisions of this Deed and the By-laws and policies of the Council without
the prior written consent of the Council provided however that the Council
shall not unreasonably refuse to give its consent to a proposed sale transfer or
assignment to a responsible and Gnancially sound person or corporation, As
a condition of such consent the Council shall require that the proposed
purchaser or transferee or assignee to be bound contractually by deed with
the Council for the performance or fulfilment of the provisions of this Deed on
the part of the Applicants to be performed or fulfilled. Until the proposed
purchaser or transferee or assignee becomes legally bound to the Council and
finishes any security equired under this deed or in default of any such sale
of transfer being made in compHance with the foregoing provisions of this
Clause the Applicants shall remain Hable for the perfonmance and fulfilment
of this Deed and shall at the cost and expense of the Applicants sign seal do all
Such documents deeds acts matters and things as shall be necessary to comply
with and fulfil such of the provisions of this Deed as have not been complied
with and fulfilled at such time or times as the Council shall requize.

The Apolicants acknowledge that the decision of the Council to recommend to the
fe

Minister for Local Government that the rezoning of the land the subject of this Aceement take

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