Master Community Declaration. The Master Community is further described in the Master Community Declaration issued from time to time by the Master Developer. The Master Developer may vary the management and governance structure of the Master Community from that disclosed in the Master Community Declaration in its absolute discretion in accordance with the requirements of the Relevant Authorities and the Purchaser waives the right to any future claim or demand against the Seller in relation to any variation by the Master Developer of the Master Community Declaration. Upon completion of Building, the Owners shall adopt such Master Community Declaration including rules and regulations as a part of the Master Community. On-going construction and phasing of the Master Community The Purchaser acknowledges and agrees that, as at the date of Completion, there shall be on-going construction works in the Master Community and that certain Master Community Facilities will remain under design and construction and certain will remain undeveloped. The Purchaser hereby waives any right to (existing or which may exist in the future) any objection, requisition, claim for compensation against the Master Developer or the Seller on the basis of the unavailability of the Master Community Facilities, the lack of development of certain plots and any ongoing construction works in the Master Community. Name of Building DT 1 Description of Building The Building is located within the Master Community. The Building is a residential building comprising Ground, 3 Podium and 13 stories. Subdivision of Building The Seller intends that the Building will be subdivided into 130 number of apartment Units + Re t a i l Un i ts and the Building Common Areas with 150 number of parking bays. Anticipated Commencement and Completion of the Building The Seller intends that the Anticipated Commencement of the construction of the Building shall be May 2017 and the Anticipated Completion of the Building is expected to be on or before ▇▇ ▇▇▇▇, subject to any extension as per the clauses of the sale and purchase agreement. Building Common areas These areas will consist of those parts of the Building which are intended for the use of all Unit Owners and not forming part of any Unit. As at the date of this Statement it is intended that the following may form part of the Building Common Areas: • The Car Park Space for any individual Car Park Spaces; • The Car Park Space for Physically handicapped; • Lobby, Entrance area; • Entrance foyer; • Lifts; • Landscaped garden areas; • Swimming pool area; • Gymnasium; • Male and Female shower and changing rooms; • Garbage disposal rooms; • Corridors; • Fire escape staircases; • Driveways & ramps at parking floors; • Utility services rooms; and • Landscaped areas within the perimeter of the Plot. A draft copy of the Building Common Area Site Plans which shows the proposed Building Common Areas is attached to this Statement as Schedule 2 to Appendix A.The Seller discloses and the Purchaser acknowledges and agrees (and in so doing the Purchaser waives all rights to future claims against the Seller in this regard) that the final number, demarcation and delineation of the Building Common Areas are still to be determined by the Seller and is subject to final survey. DRAFT Accordingly, the Seller may, in its absolute discretion, vary the number, demarcation and delineation of the Building Common Areas from those depicted above prior to orafter completion of construction of the Building or handover of the Unit to the Purchaser. Management of Building It is intended by the Seller that, to the extent required by Applicable Law and the requirements of the Relevant Authorities (including the Dubai Land Department and RERA) a Building Owners Association shall be formed in accordance with the Jointly Owned Property Law and for a Building JOPD to be Registered that sets out the rights and obligations of all Unit Owners in the Building. The Building JOPD contains important information regarding the use of the Building Common Areas. A draft copy of the Building JOPD is attached to this Statement at Appendix A. The Purchaser should note that the Seller may vary the draft Building JOPD in its absolute discretion in accordance with the Agreement. Until such time as the Building Owners Association is legally formed and Registered in accordance with the Jointly Owned Property Law, and recognized by the Dubai Land Department and RERA, the Seller (or its nominee) shall undertake the functions (and have such rights and obligations) of the Building Owners Association in accordance with the provisions contained in the Building JOPD. Governance of the Building The Building shall be governed by the Building Rules and Governance Documents which will be implemented and enforced by the Building Owners Association Manager. Building Rules The Seller expressly discloses and the Purchaser acknowledges and agrees that the Seller’s draft Building Rules are attached to the Building JOPD and that the Purchaser shall comply, and shall ensure the Occupier’s comply, with the Building Rules at all times. The Purchaser further acknowledges and agrees that the Building Rules contain restrictions on the use of the Unit by the Purchaser and the Occupiers, and that the Purchaser has satisfied itself as to the restrictions contained in the draft Building Rules. Service Charges The Building Owners Association will levy Service Charges on the Unit Owners to cover the costs of Operating the Building Common Areas (which may also include the Unit Owner’s share of Master Community Service Charges levied on the Building) and the Purchaser has a continuing obligation (together with all other Unit Owners) to contribute towards such expenses calculated and payable in accordance with the Building JOPD. The Purchaser must at all times pay its Service Charges when due and payable. The Building Owners Association may from time to time determine (in its absolute discretion) the fair allocation of the Service Charges between the Unit Owners in respect of their Entitlements. The Purchaser hereby waives the right to any future claim or demand against the Seller and/or the Building Owners Association in relation to the level of Service Charges. DRAFT Unit Leisure Facilities The Unit Leisure Facilities form part of the Building Common Areas and are under the control and responsibility of the Building Owners Association and the Building Owners Association Manager (and its employees and nominees). As at the date of this Statement the Seller anticipates that the Unit Leisure Facilities shall include the following facilities: • Landscaped and Garden areas; • Swimming pool with sun-bathingdecks; • Gymnasium; • Male and Female shower and changing room; • Amenities Lounge & Art Gallery The Purchaser must comply with the rules and directions of the Building Owners Association Manager (and its employees and nominees) with respect to the use of the Unit Leisure Facilities including the use of any associated facilities and equipment located within the Unit Leisure Facilities and any prohibition on allowing its Invitees to use the Unit Leisure Facilities. It is mandated that the Retail Unit Owners shall not be having the right to use the Unit Leisure Facilities. The Unit Owner’s right to use the Unit Leisure Facilities may be suspended for any time as deemed appropriate by the Building Owners Association Manager if the Unit Owner does not pay its Service Charges (or any other payment obligations) or is otherwise in default of its obligations in the Building JOPD. The Building Owners Association Manager shall prepare the Unit Leisure Facilities Budget for every operating year and submit it to the Building Owners Association for inclusion in the budget for the Building Owners Association to be approved by RERA and shall form part of the Service Charges of the Units excluding the Retail Unit since Retail Unit Owner or Occupier has no right to use the Unit Leisure Facilities (but which shall be payable by the Unit Owners only) Entitlements The Entitlements have been calculated on the basis of area with the Entitlement of each Unit calculated by dividing the Unit Area by the Total Unit Areas in accordance with the JOP Law. Each Entitlement is specified in the Building JOPD.
Appears in 1 contract
Sources: Sales Purchase Agreement
Master Community Declaration. The Master Community is further described in the Master Community Declaration issued from time to time by the Master Developer. The Master Developer may vary the management and governance structure of the Master Community from that disclosed in the Master Community Declaration in its absolute discretion in accordance with the requirements of the Relevant Authorities and the Purchaser waives the right to any future claim or demand against the Seller in relation to any variation by the Master Developer of the Master Community Declaration. Upon completion A copy of Building, the Owners shall adopt such Master Community Declaration including rules and regulations as a part of the Master Community. is attached to this Statement at Appendix B. On-going construction and phasing of the Master Community The Purchaser acknowledges and agrees that, as at the date of Completion, there shall be on-going construction works in the Master Community and that certain Master Community Facilities will remain under design and construction and certain will remain undeveloped. The Purchaser hereby waives any right to (existing or which may exist in the future) any objection, requisition, claim for compensation against the Master Developer or the Seller on the basis of the unavailability of the Master Community Facilities, the lack of development of certain plots and any ongoing construction works in the Master Community. Name of Building DT 1 ▇▇▇▇▇ Place Description of Building The Building is located within the Master Community. The Building is a residential building comprising Ground, 3 Podium and 13 (four) 04 stories. Subdivision of Building The Seller intends that the Building will be subdivided into 130 110 number of apartment Units + Re t a i l Un i ts and the Building Common Areas with 150 129 number of parking bays. Anticipated Commencement and Completion of the Building The Seller intends that the Anticipated Commencement of the construction of the Building shall be May 2017 22 December 2016 and the Anticipated Completion of the Building is expected to be on or before ▇▇ ▇▇▇▇31 December 2018, subject to any extension as per the clauses of the sale and purchase agreement. Building Common areas These areas will consist of those parts of the Building which are intended for the use of all Unit Owners and not forming part of any Unit. As at the date of this Statement it is intended that the following may form part of the Building Common Areas: • The Car Park Space save for any individual Car Park Spaces; • The Car Park Space for Physically handicapped; • Lobby, Entrance area; • Entrance foyer; • Lifts; • Landscaped courtyard and garden areas; • Swimming pool area; • Gymnasium; • Male and Female shower and changing rooms; • Garbage disposal rooms; • Corridors; • Fire escape staircases; • Driveways & ramps at parking floors; and • Utility services rooms; and • Landscaped areas within the perimeter of the Plot. A draft copy of the Building Common Area Site Plans which shows the proposed Building Common Areas is attached to this Statement as Schedule 2 to Appendix A.The Seller discloses and the Purchaser acknowledges and agrees (and in so doing the Purchaser waives all rights to future claims against the Seller in this regard) that the final number, demarcation and delineation of the Building Common Areas are still to be determined by the Seller and is subject to final survey. DRAFT Accordingly, the Seller may, in its absolute discretion, vary the number, demarcation and delineation of the Building Common Areas from those depicted above prior to orafter or after completion of construction of the Building or handover of the Unit to the PurchaserthePurchaser. Management of Building It is intended by the Seller that, to the extent required by Applicable Law and the requirements of the Relevant Authorities (including the Dubai Land Department and RERA) a Building Owners Association shall be formed in accordance with the Jointly Owned Property Law and for a Building JOPD to be Registered that sets out the rights and obligations of all Unit Owners in the Building. The Building JOPD contains important information regarding the use of the Building Common Areas. A draft copy of the Building JOPD is attached to this Statement at Appendix A. The Purchaser should note that the Seller may vary the draft Building JOPD in its absolute discretion in accordance with the Agreement. Until such time as the Building Owners Association is legally formed and Registered in accordance with the Jointly Owned Property Law, and recognized by the Dubai Land Department and RERA, the Seller (or its nominee) shall undertake the functions (and have such rights and obligations) of the Building Owners Association in accordance with the provisions contained in the Building JOPD. Governance of the Building The Building shall be governed by the Building Rules and Governance Documents which will be implemented and enforced by the Building Owners Association Manager. Building Rules The Seller expressly discloses and the Purchaser acknowledges and agrees that the Seller’s draft Building Rules are attached to the Building JOPD and that the Purchaser shall comply, and shall ensure the Occupier’s comply, with the Building Rules at all times. The Purchaser further acknowledges and agrees that the Building Rules contain restrictions on the use of the Unit by the Purchaser and the Occupiers, and that the Purchaser has satisfied itself as to the restrictions contained in the draft Building Rules. Service Charges The Building Owners Association will levy Service Charges on the Unit Owners to cover the costs of Operating the Building Common Areas (which may also include the Unit Owner’s share of Master Community Service Charges levied on the Building) and the Purchaser has a continuing obligation (together with all other Unit Owners) to contribute towards such expenses calculated and payable in accordance with the Building JOPD. The Purchaser must at all times pay its Service Charges when due and payable. The Building Owners Association may from time to time determine (in its absolute discretion) the fair allocation of the Service Charges between the Unit Owners in respect of their Entitlements. The Purchaser hereby waives the right to any future claim or demand against the Seller and/or the Building Owners Association in relation to the level of Service Charges. DRAFT Unit Leisure Facilities The Unit Leisure Facilities form part of the Building Common Areas and are under the control and responsibility of the Building Owners Association and the Building Owners Association Manager (and its employees and nominees). As at the date of this Statement the Seller anticipates that the Unit Leisure Facilities shall include the following facilities: • Landscaped and Garden areas; • Swimming pool with sun-bathingdecksbathing decks; • Gymnasium; and • Male and Female shower and changing room; • Amenities Lounge & Art Gallery . The Purchaser must comply with the rules and directions of the Building Owners Association Manager (and its employees and nominees) with respect to the use of the Unit Leisure Facilities including the use of any associated facilities and equipment located within the Unit Leisure Facilities and any prohibition on allowing its Invitees to use the Unit Leisure Facilities. It is mandated that the Retail Unit Owners shall not be having the right to use the Unit Leisure Facilities. The Unit Owner’s right to use the Unit Leisure Facilities may be suspended for any time as deemed appropriate by the Building Owners Association Manager if the Unit Owner does not pay its Service Charges (or any other payment obligations) or is otherwise in default of its obligations in the Building JOPD. The Building Owners Association Manager shall prepare the Unit Leisure Facilities Budget for every operating year and submit it to the Building Owners Association for inclusion in the budget for the Building Owners Association to be approved by RERA and shall form part of the Service Charges of the Units excluding the Retail Unit since Retail Unit Owner or Occupier has no right to use the Unit Leisure Facilities (but which shall be payable by the Unit Owners only) ). Entitlements The Entitlements have been calculated on the basis of area with the Entitlement of each Unit calculated by dividing the Unit Area by the Total Unit Areas in accordance with the JOP Law. Each Entitlement is specified in the Building JOPD.
Appears in 1 contract
Sources: Sales Purchase Agreement