Condominium


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CON - 01 Alterations/Changes to Unit During Interim Occupancy
CON - 02 Compliance of Buyer, Guests and Family Members
CON - 03 Default by New Buyer During Interim Occupancy
CON - 04 Occupancy by Buyer Prior to Completion and Payment of Occupancy Fee
CON - 05 Occupancy by Buyer Prior to Completion of Construction
CON - 06 Permission to Access Unit
CON - 07 Resale of Uncompleted Unit
CON - 08 Tenant to Occupy Property
CON - 09 Assignment of Prior Agreement
CON - 10 Conditional Upon Review of Condominium Documents
CON - 11 Conditional Upon Inspection - Seller Allowed to Remedy
CON - 12 Conditional Upon Inspection of Property by a Home Inspector - General Inspection
CON - 13 Delivery of a Report
CON - 14 Conditional Upon Inspection of Property by a Third Party

   


CONDOMINIUM (CON)

CON - 01Alterations/Changes to Unit During Interim Occupancy
CON - 02 Compliance of Buyer, Guests and Family Members
CON - 03 Default by New Buyer During Interim Occupancy
CON - 04 Occupancy by Buyer Prior to Completion and Payment of Occupancy Fee
CON - 05 Occupancy by Buyer Prior to Completion of Construction
CON - 06 Permission to Access Unit
CON - 07 Resale of Uncompleted Unit
CON - 08 Tenant to Occupy Property
CON - 09 Assignment of Prior Agreement
CON - 10 Conditional Upon Review of Condominium Documents
CON - 11 Conditional Upon Inspection - Seller Allowed to Remedy
CON - 12 Conditional Upon Inspection of Property by a Home Inspector - General Inspection
CON - 13 Delivery of a Report
CON - 14 Conditional Upon Inspection of Property by a Third Party

CON - 01     Alterations/Changes to Unit During Interim Occupancy
The Buyer covenants and agrees that no alterations will be made to the unit during the term of interim occupancy. Upon completion of the transaction, the Buyer agrees to abide by the By-laws and Rules relating to alterations and changes within the unit.

CON - 02     Compliance of Buyer, Guests and Family Members
The Buyer hereby covenants with the Seller and with the Condominium Corporation that the Buyer, members of the household, and guests, will comply with the Condominium Act, the Declaration, the Bylaws and all Rules and Regulations, in using the unit and the common elements, and will be subject to the same duties imposed by the above as those applicable to other individual unit owners.

CON - 03     Default by New Buyer During Interim Occupancy
The Buyer acknowledges that any default in payment of occupancy fees shall be deemed to be a default under the terms and conditions of the Agreement of Purchase and Sale, and subject to the remedies provided herein for the Seller.

CON - 04     Occupancy by Buyer Prior to Completion and Payment of Occupancy Fee
The Buyer shall be entitled to occupy the property from the _____ day of ___________, 20 , until the date of completion at a monthly fee hereinafter referred to as an occupancy fee. The occupancy fee shall be calculated based on the proportionate share of the common expenses, the estimated realty taxes, and mortgage interest as detailed herein (or designated as Schedule "_____" attached to and forming part of this Agreement). Said occupancy fee shall be due and payable on a monthly basis, in advance, commencing on the 1st day of each month following the date of occupancy. Partial charges prior to the 1st day of the initial month shall be pro-rated accordingly. The Buyer further agrees to provide the Seller with post-dated cheques to cover the occupancy cost for a period of twelve months, or such period to be established by the Seller whichever is the lesser.

CON - 05     Occupancy by Buyer Prior to Completion of Construction
The Buyer acknowledges that the unit being acquired is currently under construction. The Buyer shall take occupancy of the unit provided that the interior of the unit has been substantially completed, notwithstanding that the common areas have not been substantially finished. The Seller agrees to complete same in a good and workmanlike manner in a reasonable period of time. The Buyer further acknowledges that failure to complete either the unit or the common areas by the occupancy date in no way relieves the Buyer from completing the transaction.

CON - 06     Permission to Access Unit
The Buyer agrees to allow the Seller access to the unit for the purpose of inspection, maintenance, or completion of uncompleted work for a period of six (6) months following the date of completion, provided that reasonable notice is given to the Buyer. Any subsequent access shall be pursuant to the By-laws, Rules and Regulations as established by the Board of Directors of the Condominium Corporation.

CON - 07     Resale of Uncompleted Unit
The Buyer acknowledges that the Seller has purchased the property herein described by way of a prior accepted Agreement of Purchase and Sale and is assigning all rights to the Buyer. The Seller shall not be held liable for any damage or loss incurred by the Buyer should the Seller be unable to complete the transaction by reason of any default on the part of the original party from which this property was acquired. Provided further the Buyer agrees to abide by all By-laws, Rules and Regulations that accompany ownership to this property and which have been agreed to by the Seller in the prior transaction. The Buyer also acknowledges that, under the terms of this Agreement of Purchase and Sale, the price and terms agreed upon may not be the same as in the prior Agreement.

CON - 08     Tenant to Occupy Property
The Buyer agrees to abide by the Declaration, By-laws, Rules and Regulations of the Condominium Corporation and, if the property is to be rented, the Buyer agrees to inform all tenants of the Rules and Regulations and receive written acknowledgement of the tenants regarding their willingness to abide by same within the rental document. It is clearly understood that all rental agreements shall conform with the Rules and Regulations as passed from time to time by the Board of Directors of the Condominium Corporation.

CON - 09     Assignment of Prior Agreement
The Buyer acknowledges that the Seller has purchased the property by way of a prior accepted Agreement of Purchase and Sale, a copy of which is attached as Schedule "A" hereto, and the Seller is assigning his rights thereunder to the Buyer. Upon acceptance of this Offer, the Seller shall give written notice of Assignment to any other parties affected by this Agreement. If the Seller is unable to complete the transaction by reason of default of the party from whom he has purchased the property, the Seller shall not be liable for any damage or loss incurred by the Buyer, and this Agreement of Purchase and Sale shall become null and void and the deposit shall be returned to the Buyer in full without interest.
The Buyer agrees to abide by all proposed or registered By-laws, Rules and Regulations applying to this property and which have been agreed to by the Seller in the prior transaction. The Buyer also acknowledges that, under the terms of this Agreement of Purchase and Sale, the price and terms agreed upon may not be the same as agreed in the prior Agreement.

CON - 10     Conditional Upon Review of Condominium Documents
This Offer is conditional upon the Buyer's Solicitor reviewing the following Condominium Corporation's documentation: an Estoppel Certificate, the last annual financial statements (audited if available), the current budget, the Declaration, by-laws, rules, any management agreement, all current insurance certificates, and finding all of the foregoing satisfactory in the Buyer's Solicitors sole and absolute discretion. Unless the Buyer gives notice in writing delivered to the Seller not later than _____ p.m. on the ______ day of _________, 20____, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. The Buyer or the Buyer's Solicitor agrees to request the foregoing documentation within _____ days after acceptance of this Agreement. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller within the time period stated herein.

NOTE: Be aware that the Condominium Corporation has seven (7) days after the request to deliver the Condominium Corporation documentation noted above.

CON - 11     Conditional Upon Inspection - Seller Allowed to Remedy
This Offer is conditional upon the inspection of the subject unit by a home inspector at the Buyer's own expense and the obtaining of a report satisfactory to the Buyer or a report revealing deficiencies in the unit which the Seller is willing and able to remedy. Unless the Buyer gives notice in writing to the Seller not later than ____ p.m. on the _____ day of ________,20 __ , that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller within the time period stated herein.

CON - 12     Conditional Upon Inspection of Property by a Home Inspector - General Inspection
This Offer is conditional upon the inspection of the unit and common elements by a home inspector at the Buyer's own expense and the obtaining of a report satisfactory to the Buyer in the Buyer's sole and absolute discretion. Unless the Buyer gives notice in writing delivered to the Seller not later than ___ p.m. on the ____ day of _________, 20____, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. The Seller agrees to cooperate in providing access to the unit for the purpose of this inspection. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller within the time period stated herein.

CON - 13     Delivery of Report
In the event the foregoing condition is not fulfilled or waived by the Buyer, the Buyer agrees to provide the Seller the Seller with a true copy of the inspection report and all estimates related thereto prior to the return of the deposit herein.

CON - 14     Conditional Upon Inspection of Property by a Third Party
This Offer is conditional upon the inspection of the unit and common elements by _____________ and the obtaining of a report satisfactory to the Buyer at the Buyer's own expense. Unless the Buyer gives notice in writing delivered to the Seller not later than ____ p.m. on the ____ day of _______, 20___, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. The Seller agrees to co-operate in providing access to the unit for the purpose of this inspection. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller within the time period stated herein.

NOTE: Matters involving both zoning and surveys are typically more complex and expensive with respect to rural properties. Use should be made of the appropriate clauses (see Survey Section in Residential Offer Information Clauses and clauses related to Title and Documents in the Agreement of Purchase and Sale (Form 101) and the Agreement of Purchase and Sale (Condo) (Form 100).