all applicable laws; the terms of applicable permits and approvals; and using all due care and skill; and pursuant to such other additional terms and conditions as are acceptable to the Registered Housing Agency, reasonable and consistent with conventional practice for a shared equity arrangement in the circumstances; and if fee simple ownership of any of the Affordable Housing Dwellings has not been transferred to [a/the] Registered Housing Agency in accordance with clause 2.4(b)(i) within [insert quantity] months of the date of this Agreement (Sunset Date), the Owner must instead: make a payment to [a/the] Registered Housing Agency within 30 days of the Sunset Date calculated based on the number of Affordable Housing Dwellings that have not been transferred, multiplied by a figure which represents [_]% of their Market Value as at the Sunset Date; or grant an interest as mortgagee over the Affordable Housing Dwellings to [a/the] Registered Housing Agency which represents [_]% of the cumulative Market Value of the Affordable Housing Dwelling as at the Sunset Date secured by a mortgage in favour of [a/the] Registered Housing Agency, in a form prepared by the Registered Housing Agency's solicitor that is consistent with conventional practice for a mortgage in the circumstances. Section 3AA(2) Notices In constructing the Affordable Housing, the Owner must have regard to any applicable Section 3AA(2) Notices. Costs The Owner covenants to reimburse the Responsible Authority [and the Registered Housing Agency - Optional] within fourteen (14) days of demand for the reasonable Costs incurred in relation to the preparation, execution and registration of this Agreement. Indemnity The Owner indemnifies [the Registered Housing Agency and - Optional] the Responsible Authority, its officers and employees against all Costs, losses or damages to the extent caused by any suit, action, proceeding, judgment or claim brought by any person in relation to a breach of this Agreement or non-compliance with it by the Owner or the negligent or unlawful act or omission of the Owner, except to the extent that such Costs, losses or damages are caused or contributed to by the negligent or unlawful act, unlawful omission or default of the Responsible Authority or the Registered Housing Agency. The parties agree that each will conduct itself in a manner that ensures mitigation of its loss in respect of any claim, suit, action, proceeding or judgement brought by any person.
all applicable laws; the terms of applicable permits and approvals; and using all due care and skill; and pursuant to such other additional terms and conditions as are acceptable to the Registered Housing Agency, reasonable and consistent with conventional practice for a shared equity arrangement in the circumstances; and if fee simple ownership of any of the Affordable Housing Dwellings has not been transferred to [a/the] Registered Housing Agency in accordance with clause 2.4(b)(i) within [insert quantity] months of the date of this Agreement (Sunset Date), the Owner must instead: make a payment to [a/the] Registered Housing Agency within 30 days of the Sunset Date calculated based on the number of Affordable Housing Dwellings that have not been transferred, multiplied by a figure which represents [_]% of their Market Value as at the Sunset Date; or grant an interest as mortgagee over the Affordable Housing Dwellings to [a/the] Registered Housing Agency which represents [_]% of the cumulative Market Value of the Affordable Housing Dwelling as at the Sunset Date secured by a mortgage in favour of [a/the] Registered Housing Agency, in a form prepared by the Registered Housing Agency's solicitor that is consistent with conventional practice for a mortgage in the circumstances. Section 3AA(2) Notices In constructing the Affordable Housing, the Owner must have regard to any applicable Section 3AA(2) Notices. Costs The Owner covenants to reimburse the Responsible Authority [and the Registered Housing Agency - Optional] within fourteen (14) days of demand for the reasonable Costs incurred in relation to the preparation, execution and registration of this Agreement. Indemnity The Owner indemnifies [the Registered Housing Agency and - Optional] the Responsible Authority, its officers and employees against all Costs, losses or damages to the extent caused by any suit, action, proceeding, judgment or claim brought by any person in relation to a breach of this Agreement or non-compliance with it by the Owner or the negligent or unlawful act or omission of the Owner, except to the extent that such Costs, losses or damages are caused or contributed to by the negligent or unlawful act, unlawful omission or default of the Responsible Authority or the Registered Housing Agency. The parties agree that each will conduct itself in a manner that ensures mitigation of its loss in respect of any claim, suit, action, proceeding or judgement brought by any person.
Final-_Example_Agreement.docx