Body Corporate - Deed of Engagement 13.04.2022 · 132006.823.10

                          Page 34
NICHOLSONS     Deed of Engagement
  Solicitors


[OCR of page images]
Page 34
NICHOLSONS Deed of Engagement

Solicitors

 

commencing on 16 June 2005 including all extensions, renewals,
assignments and variations to them and to which the Manager is now a
party.

2 Variation

21 The parties agree that the Caretaking Agreement is varied by adding the following clause
to be clause 3.2:

"If there is not, at the time the Caretaker gives notice under this clause nor at 15
June 2030, an outstanding breach of this Agreement by the Caretaker entitling
the Body Corporate to terminate it, the Caretaker may by giving written notice to
the Body Corporate at any time before 15 June 2030, extend or renew this
Agreement or the term of it for the period of 5 years commencing on 16 June
2030 and ending on 15 June 2035, otherwise upon the same conditions as are
contained in this Agreement and except that the remuneration for the first year of
this further period, and then for subsequent years of this further period, will be
calculated in accordance with the manner of increase set out in clause 4.3 of this
Agreement."

2.2 The parties agree that the Letting Agreement is varied by adding a new clause, clause
3.2 as follows:

"If there is not, at the time the Letting Agent gives notice under this clause nor at
15 June 2030, an outstanding breach of this Agreement by the Letting Agent
entitling the Body Corporate to terminate it, the Letting Agent may by giving
written notice to the Body Corporate at any time before 15 June 2030, extend or
renew this Agreement or the term of it for the period of 5 years commencing on
16 June 2030 and ending on 15 June 2035, otherwise upon the same conditions
as are contained in this Agreement.”

2.3 The parties:
(a) ratify and confirm all of the terms and conditions of the Agreements; and

(b) agree to be bound by the terms and conditions of the Agreements.

2.4 The Body Corporate acknowledges and agrees that:

(a) the term of the Agreements is 25 years beginning on 16 June 2005 and ending
on 15 June 2030; and

(b) by virtue of the variation of the Agreernents in accordance with this Deed, there is
a further option to extend or renew the Agreements or the term of the
Agreements for a further period of S years from 16 June 2030 and ending on 15
June 2035.

2.5 | The Body Corporate warrants that it has at general meeting, by secret ballot, without the
use of proxies and in compliance in all respects with the requirements of the Act and the
applicable Regulation Module, resolved to vary the Agreements in accordance with this
Deed and to enter into this Deed.

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