Schedule of Payment of Purchase Price

Installment Payable
%
1) Immediately upon the signing of the Agreement
10
2) Within twenty-one (21) working days after receipt by the PURCHASER of the VENDOR’s written notice of the completion of:
(a) the work below ground level including piling and foundation of the said Building comprising the said Parcel;
10
(b) the reinforced concrete framework and floor slab of the said parcel.
15
(c) the walls of the said Parcel with door and window frames placed in position.
10
(d) the roofing/ceiling, electrical wiring plumbing (without fittings), gas piping (if any) and internal telephone trunking and cabling to the said Parcel
10
(e) the internal and external plastering of the said Parcel
10
(f) the sewerage works serving the said Buiding
5
(g) the drains serving the said Buiding
5
(h) the roads serving the said Building
5
3) On the date the Purchaser takes vacant possession of the said Parcel with water and electricity supply ready for connection to the said Parcel
12.5
4) Within twenty-one (21) working days after receipt by the purchaser of written confirmation of the Vendor’s submission to and acceptance by the Appropriate Authority of the application for subdivision of the said Buiding
2.5
5) On the date the Purchaser takes vacant possession of the said Parcel as in item 3 and to be held by the Vendor’s solicitor as stakeholder for payment to the Vendor as follows:
(a) two point five per centum (2.5%) at the expiry of six (6) months after the date Purchaser takes vacant possession of the said Parcel;
(b) two point five per centum (2.5) at the expiry of eighteen (18) months after the date the Purchase takes vacant possession of the said Parcel
5
Total
100

 


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