Body Corporate - Deed of Engagement 13.04.2022 · 132006.823.10

                          Page 14
NICHOLSONS     Deed of Engagement
  Solicitors


[OCR of page images]
NICI

HOLSONS

Page 14

Solicitors Deed of Engagement

__NICHOLSONS__ Page 6

SOUCITORS Caretaking Agreement

 

 

84

10,
10.1

10.2

Where the Caretaker is a corporation if there is any alteration to the Board of Directors, or
any alteration to the beneficial ownership of, or issue of further shares in, or increase in,
the share capita! of the Caretaker or any proposal relating to same any of which alters the
effective control of the Caretaker from the control thereof at the date of commencement of
this Agreement, such change or proposed change in’ the control of the Caretaker shall be
deemed to be an assignment or proposed assignment of this Agreement and the
provisions relating to assignments shall apply. +

PROHIBITED PAYMENTS

The Body Corporate shall not be entitled to any premium, payment or benefits in
connection with the granting, renewal, extension or variation of this Agreement.

TERMINATION BY BODY CORPORATE

This Agreement may, subject to Section 126 of the Act, be terminated by the Body
Corporate giving written notice to the Caretaker if the Caretaker--

(a) purports to assign this Agreement without the prior consent in writing of the Body
Corporate; or

(b) | Commits any act of gross negligence or gross misconduct; or

(c) defaults in the performance of the duties of the Caretaker pursuant to this
Agreement and such failure or neglect to remedy the default shall continue for 2
further period of fourteen (14) days after notice in writing shall have been given to
the Caretaker by the Body Corporate specifying the default and clearly stating what
has to be done by the Caretaker to remedy the default ; or

(d) is a natural person and:
(i) is insolvent;
(ii) is convicted of an indictable offence; or
(iii) is committed pursuant to any legislation relating to mental health; or

(e) is a corporation, and an order is made or a resolution is effectively passed, for the
winding up or administration of the Caretaker pursuant to the Corporations Law
(other than for the purposes of an amalgamation or reconstruction) or a receiver or
manager is appointed to the Caretaker’s property or any part thereof without the
prior approval of the committee of the Body Corporate as to the appointed party
which shall not be unreasonably withheld provided that the proposed appointee is a
respectable responsible and financially sound person capable of adequately
performing and observing the duties and provisions of this Agreement.

The Body Corporate or the Caretaker may at its option and upon giving 14 days written
notice, terminate this Caretaking Agreement if at any time the Letting Agreement is
terminated in accordance with the provisions of that agreement.

EARLY TERMINATION BY CARETAKER

The Caretaker may terminate this Agreement early by notice in writing to the Body
Corporate given in the period set out in Clause 11,2.