3476_001 · MCU18/0015

Easement L
Clause 11 states:

The benefit and effect of this easement is agreed to be postponed, and the Grantee agrees that it shail have
no right to exercise any of the rights referred to in this easement, until a development approval is granted,
and the development is completed, for the Dominant Tenement.

For the purposes of this clause and this easement the following words have the following meanings:

¢ "development approval" means such an approval or approvals including a ministerial approval and
conditions of approval by the Sunshine Coast Regional Council in final format enabling the Grantee
to immediately and lawfully proceed with construction of improvements as approved, including in
accordance with conditions of approval on the Dominant Tenement;

e improvements being completed in accordance with the requirements of the Sunshine Coast
Regional Council and a Certificate of Classification issuing in relation to use if required or applicable;

e "completed" shall mean practical completion of construction (including completion of construction
of a stage of development, ff a staged development is approved and constructed in stages, if
applicable) in accordance with the term as is usually used, and in the case of any uncertainty, as
evidenced by the issue of a Certificate of Classification for such improvements by the Sunshine Coast
Regional Council, if required or applicable, and otherwise as reasonably determined by the Grantor's
Architect;

e in the case of any uncertainty the issue of a Certificate of Classification following Development
Approval shall be taken to be the date upon which the Grantee may use and enjoy the rights and
benefits conferred by this easement, if a Certificate of Classification is required or applicable, and
otherwise, as reasonably determined by the Grantor's Architect.

Easement M & P
Clause 8 states:

The benefit and effect of this easement is agreed to be postponed, and the Grantee agrees that it shall have
no right to exercise any of the rights referred to in this easement, until a development approval is granted,
and the development is completed, for the Dominant Tenement.

For the purposes of this clause and this easement the following words have the following meanings:

® "development approval" means such an approval or approvals including a ministerial approval and
also conditions of approval by the Sunshine Coast Regional Council in final format enabling the
Grantee to immediately and lawfully proceed with construction of improvements as approved,
including in accordance with conditions of approval on the Dominant Tenement;

e improvements being completed in accordance with the requirements of the Sunshine Coast
Regional Council and a Certificate of Classification issuing in relation to use if required or applicable;

e "completed" shall mean practical completion of construction (including completion of construction
of a stage of development, H a staged development is approved and constructed in stages, if
applicable) in accordance with the term as is usually used, and in the case of any uncertainty, as