Farm Wonderboom 302 JR, Gauteng PRO PERTY INFOR MA TIO N

PROPERTY INFORMATION

TABLE OF CONTENTS

Farm Wonderboom 302 JR, Gauteng

Wonderboom Shopping Centre: Retail Building/Workshops with SASOL Filling Station as Tenant on Auction

303 Lavender Road

WEDNESDAY 18 AUGUST 2015 @ 12H00 The Wanderers Club, Illovo Sandton, Johannesburg

AUCTIONEER: Ismail Hendricks BROKER: Norman Raad 082 553 9597 / [email protected]

TABLE OF CONTENTS

OPPORTUNITY SUMMARY 3

PROPERTY SUMMARY 4

1. LOCALITY (SEE ANNEXURE A) 4

2. LEGAL INFORMATION (SEE ANNEXURES B AND C) 4

3. TOWN PLANNING 4

4. LOCATIONAL ANALYSIS 5

5. THE DEVELOPMENT 5

ANNEXURES

ANNEXURE A - LOCALITY 7

ANNEXURE B - TITLE DEED 8

ANNEXURE C - SG DIAGRAM(S) 12

ANNEXURE D - ZONING 14

ANNEXURE E - MUNICIPAL ACCOUNT 17

ANNEXURE F LEASE AGREEMENTS 20

ANNEXURE G TENANCY SCHEDULE 29

ANNEXURE H INCOME STATEMENT 30

ANNEXURE I BUILDING PLANS 31

ANNEXURE J PHOTOGRAPHY 36

NOTES 37

TERMS & CONDITIONS: Bidders must register and bring ID, proof of residence (FICA) and letter of authority to sign on behalf of a juristic entity. Rules of auction are available at www.broll.com and at our offices. The auction is conducted in terms of the regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. DISCLAIMER: reasonable care has been taken to obtain the correct information, neither Broll Auctions and Sales (Pty) Ltd, nor any of its subsidiaries and related companies, nor the Sellers, guarantee the correctness of the information, and none of the aforementioned will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information supplied, whether due to the negligence or otherwise of Broll Auctions and Sales and its subsidiaries and related

OPPORTUNITY SUMMARY

The property comprises a fully operational Sasol filling station, retail shops and workshops, situated along the R101 (Lavender Road between Pretoria and Hammanskraal). There is also a large portion of the land available for Description further development. Most of the shops/workshops are tenanted and most lease agreements have been signed.

8.7896 hectares of 87,896m² Erf Size

Special Zoning

Gross Lettable Area 7,405m2 GLA Tenanted 5,683m² (77%) GLA Vacant 1,721m² (23%) Tenancy 77% Projected For Year Ended 30 Sep 2016 Gross Income R3 528 236 Income Statement Less Operating Expenses (R739 309) Net Income R2 788 927

3 PROPERTYPROPERTY SUMMARYSUMMARY

1. Locality (see Annexure A)

Property Address: 303 Lavender Road (Wonderboom Shopping Centre) Suburb and City: Wonderboom Local Authority: City of Tshwane Province: Gauteng

2. Legal Information (see Annexures B and C)

Erf number(s): Remaining Extent of Portion 176 of Farm Wonderboom 302 JR Township: Pretoria Erf Extent: 8.7896 hectares Title Deed Number: T144992/2006 Registered Owner: Autumn Storm Inv 333 Pty Ltd

3. Town Planning

The property is zoned in terms of the Tshwane Town Planning Scheme, subject to the following conditions:

Zoning: Special Height: 7 m Coverage: Permissible: 15.80% (13,888m²) Actual: 8.42% (7,405m²) F.A.R: Permissible: 0.32 (28,127m²) Actual: 0.084 (7,405m²) Parking: Public garage: 1 Parking space to every five employees Motor show room: 2 Parking bays to 100m² Gross floor Area Building line: 30m along street boundary

4 PROPERTY SUMMARY

4. Locational Analysis

The property, known as Wonderboom Shopping Centre, is located ±11km north from Pretoria CBD (as the crow flies). It is on the western periphery of an established mixed use suburb known as Annlin, with Onderstepoort on the western side of the property. The Apies River forms the western boundary of the property while the eastern boundary is next to the R101 (Lavender Road). The R101 is a dual carriage way that provides excellent exposure to large traffic volumes between Pretoria North and Hammanskraal. The well-known Wonderboom Aerodome is approximately 2.3km east on Linveld Road.

GPS co-ordinates for the property are: -25.656677, 28.190226

5. The Development

The property has been improved with a number of buildings, which are summarised as follows: a. SASOL filling station This component is the main attraction to the site and comprises the forecourt, a filling station canopy, offices/bathrooms and store rooms. The forecourt offers four islands with five pumps (10 nozzle very popular. b. Open sided workshop/shed On the northern boundary of the Erf is a steel structure that is cladded on three sides and covered with IBR sheets. This structure is being used as a workshop and is separately fenced. c. Retail shops A number of shops and workshops are located in a plastered and painted brick building under a flat roof that is covered with iron roof sheets. Floors are covered with tiles and ceilings mainly comprise gypsum ceiling panels. Each shop is equipped with bathrooms and kitchens. d. Workshops Workshops comprise plastered and painted brick structures that are covered with iron roofs. Floors consist of floated concrete slabs and no ceilings are fitted. e. Dwelling with store rooms On the western boundary of the Erf is a double storey, plastered and painted brick structure that is covered with a thatch roof. The dwelling is compact and offers a lounge/ dining room, kitchen, laundry, 4 bedrooms, 1 bathroom. Furthermore, there is an enclosed lapa and a shed under a thatch roofs. Two carports, constructed of gum poles under a thatch roofs, provide covered parking to four vehicles. The dwelling requires general maintenance and the thatch roofs have to be repaired.

5 PROPERTY SUMMARY

f. Undeveloped land A large section of the land is undeveloped and would probably be suitable for development.

Lettable areas are summarised as follows:

No Tenant Name Size (m²) Shop 1 Break Away Trading 1273 m² Shop 2 Break Away Trading 188 m² Shop 3A Vacant 155 m² Shop 3B Vacant 156 m² Shop 3C Leas Tattoo Studio 120 m² Shop 4 Club R 101 Bar 243 m² Shop 5 Michael Traders (Pty) Ltd 168 m² Shop 6 Vacant 160 m² Shop 7 Sasol Basic Rent 603 m² Shop 8A Hyper Electrical CC 333 m² Shop 8B Vacant land with 1 toilet 0 m² Shop 9A Tractor Giants 500 m² Shop 9 Tractor Giants 1107 m² Shop 10 Vacant 1250 m² Shop 11 R de Beer - dwelling Shed 166 m² Shed 28 m² Dwelling 306 m² Carport 70 m² Shop 13 A&S Salvage 579 m² TOTAL 7405 m²

6 ANNEXURE A - LOCALITY

7 ANNEXUREANNEXURE BB -- TITLETITLE DEED

8 ANNEXURE B - TITLE DEED

9 ANNEXURE B - TITLE DEED

10 ANNEXURE B - TITLE DEED

11 ANNEXURE C - SG DIAGRAM(S)

12 ANNEXURE C - SG DIAGRAM(S)

13 ANNEXUREANNEXURE DD -- ZONINGZONING

14 ANNEXURE D - ZONING

15 ANNEXURE D - ZONING

ANNEXURE E - MUNICIPAL ACCOUNT

17 ANNEXURE E - MUNICIPAL ACCOUNT

18 ANNEXURE E - MUNICIPAL ACCOUNT

19 ANNEXUREANNEXURE FF LEASELEASE AGREEMENTSAGREEMENTS Shop 7 Sasol filling station

20 ANNEXURE F LEASE AGREEMENTS

21 ANNEXURE F LEASE AGREEMENTS Shop 1 and 2

22 ANNEXURE F LEASE AGREEMENTS Shop 3C

23 ANNEXURE F LEASE AGREEMENTS Shop 4

24 ANNEXURE F LEASE AGREEMENTS Shop 5

25 ANNEXURE F LEASE AGREEMENTS Shop 8

26 ANNEXURE F LEASE AGREEMENTS Shop 13

27 ANNEXURE F LEASE AGREEMENTS Lease Summary - Filling Station

Shop 7 - Filling station a. Lessee 1: Exel Petroleum (Proprietary) Limited b. Lease period: 20 years c. Commencement date: ±1999 d. Initial Rental: R40,000 per month excluding VAT e. Lease amount:

Year 1 R 40,000 Year 2 R 42,800 Year 3 R 45,796 Year 4 R 49,002 Year 5 R 52,432 Year 6 R 56,102 Year 7 R 60,029 Year 8 R 64,231 Year 9 R 68,727 Year 10 R 73,538 Year 11 R 78,686 Year 12 R 84,194 Year 13 R 90,088 Year 14 R 96,394 Year 15 R 103,141 Year 16 R 110,361 - current Year 17 R 118,087 Year 18 R 126,353 Year 19 R 135,197 Year 20 R 144,661

f. Escalation rate: 7% per annum g. Installation of underground petroleum tanks: responsibility of the Lessor h. Ownership of equipment: remains with the Lessee i. Sub letting: the Lessee will sublet the petrol filling station and service station to the Dealer of its choice. j. Maintenance: the Lessor will maintain the interior and exterior of the buildings, the roof and the leased premises including but not limited to the forecourt, in good order and repair. k. Rates and taxes: The Lessor will pay the Government, Provincial, Municipal and all other rates and taxes and charges levied upon the property pro rata to the area that the lease area bears to the property. l. The Lessee will pay to the Lessor the cost of all electricity, water and gas consumed if measured by way of separate metre for the leased area. m. The Lessor will insure at its own cost the property, all the buildings, the leased premises and the equipment against risk of theft, loss or damage by fire, etc.

28 ANNEXUREANNEXURE GG TENANCYTENANCY SCHEDULE

R0.00

Parking

R0.00

R 5 700.00 R 5

R 4 670.17 R 4

R 7 500.00 R 7

R 6 642.00 R 6

R 6 605.74 R 6

R 5 044.60 R 5

R 6 424.54 R 6

R 6 379.23 R 6

R 7 964.00 R 7

R 7 700.00 R 7

R 14 260.00 R14

R 11 495.00 R11

R 10 000.00 R10

R 11 266.26 R11

R 188 461.29 R188

R 222 012.80 R222

R 110 361.26 R110

Rent

Jun-15

R9.85

R8.19

R6.00

R6.05

R41.18

R29.98

R28.52

R34.53

R41.18

R59.59

R46.36

R42.18

R41.18

R42.32

R183.05

Rent / m² Rent/

0.0%

7.0%

0.0%

10.0%

Esc.

Duration

1 yrs, 0 mths 0 yrs, 1

2 yrs, 0 mths 0 yrs, 2

3 yrs, 0 mths 0 yrs, 3

14 yrs, 0 mths 0 yrs, 14

0 yrs, 1 mths 1 yrs, 0

3 yrs, 0 mths 0 yrs, 3

1 yrs, 0 mths 0 yrs, 1

5 yrs, 0 mths 0 yrs, 5

31-Oct-15

31-Oct-16

30-Apr-16

30-Apr-15

00-Jan-00

30-Jun-19

31-Jan-16

00-Jan-00

28-Feb-18

31-May-18

Lease Expiry Lease

38.2%

61.8%

01-Jul-05

00-Jan-00

01-Jun-15

00-Jan-00

01-Feb-15

30-Sep-15

01-Nov-13

01-Mar-13

01-May-15

01-May-13

Lease Start Lease

0.00

578.80

570.00

500.00

332.90

602.90

160.40

167.80

243.00

119.60

156.00

154.90

188.20

2 828.30 2

4 576.20 4

7 404.50 7

1 250.00 1

1 107.00 1

1 273.00 1

Aream²

Parking

Description

Panel Beater Panel

Dwelling

Vacant

Electrical

Filling Station Filling

Vacant

Sports Bar Sports

Bar

Tattoo Studio Tattoo

Vacant

Hardware

Use

Retail

Unit

Shop 13 Shop

Shop 11 Shop

Shop 10 Shop

Shop 9 Shop

Shop 9A Shop

Shop 8B Shop

Shop 8A Shop

Shop 7 Shop

Shop 6 Shop

Shop 5 Shop

Shop 4 Shop

Shop 3C Shop

Shop 3B Shop

Shop 3A Shop

Shop 2 2 Shop

Shop 1 Shop

Tenants

* Vacant space assumes a notional market related rent related market notional a assumes space *Vacant

Vacant

Occupied

Total

Amtitifo Properties Amtitifo

R de Beer Rde

Vacant 6 Vacant

Vacant 5 Vacant

Tractor Giants Tractor

Vacant Land with 1 toilet 1 with Land Vacant

Volt “Sin” Amps cc “Sin” Volt

Sasol Basic Rent Basic Sasol

Vacant 3 Vacant

Michael Traders (Pty)Ltd Traders Michael

Club R 101 Bar R 101 Club

Leeas Tattoo Studio Tattoo Leeas

Vacant 2 Vacant

Vacant 1 Vacant

Break Away Trading Away Break

10 No

29 ANNEXUREANNEXURE HH INCOMEINCOME STATEMENT

ACTUAL PROJECTED PROJECTED

JUNE 2015 ** YR 1 ** YR 2 ANNUALISED 1 OCT 2015 - 30 SEPT 2016 1 OCT 2016 - 30 SEPT 2017

TOTAL RENTAL INCOME R 2 328 275 R 2 810 253 R 3 031 646 Rental Income R 2 261 535 R 2 743 514 R 2 964 907 Petrol Rebate R 66 739 R 66 739 R 66 739

TOTAL RECOVERIES R 602 012 R 717 982 R 775 757 Recoverable Rates and Taxes R 42 844 R 47 197 R 50 972 Recoverable Water R 71 014 R 78 228 R 84 487 Recoverable Electricity R 278 026 R 306 274 R 330 776 Recoverable Sewerage R 21 639 R 23 838 R 25 745 Recoverable Refuse R 17 648 R 19 441 R 20 997 Other Recoveries R 170 840 R 243 004 R 262 781

TOTAL GROSS INCOME R 2 930 287 R 3 528 236 R 3 807 404

OPERATING EXPENSES R 678 134 R 739 309 R 798 454 Rates & Taxes R 75 224 R 82 867 R 89 496 Water R 51 868 R 57 137 R 61 708 Electricity R 322 714 R 355 501 R 383 941 Sewerage R 21 639 R 23 838 R 25 745 Refuse R 21 033 R 23 170 R 25 024 Repairs and Maintenance R 89 436 R 94 802 R 102 386 Security - - - Care Taker R 46 200 R 48 972 R 52 890 Cleaning R 10 584 R 11 219 R 12 117 Insurance R 33 328 R 35 328 R 38 154 Meter Reading Fees R 6 108 R 6 474 R 6 992

TOTAL EXPENSES R 678 134 R 739 309 R 798 454

NET OPERATING INCOME R 2 252 153 R 2 788 927 R 3 008 950

* Year to date financials and current tenancy information supplied by vendor. ** Projections are based on current financials and tenancy information with additional assumptions and projections made by Broll management.

30 ANNEXUREANNEXURE II BUILDINGBUILDING PLANS

31 ANNEXURE I BUILDING PLANS

32 ANNEXURE I BUILDING PLANS

33 ANNEXURE I BUILDING PLANS

34 ANNEXURE I BUILDING PLANS

35 ANNEXURE J - PHOTOGRAPHY

SASOL FILLING STATION ENTRANCE SIDE VIEW OF FILLING STATION

RETAIL OUTLETS RETAIL OUTLETS

TRACTOR GIANTS

Rules of Auction and Conditions of Sale

1.5. Section 45 subsection (2) of the Act provides that: “ When goods are put up for sale by auction IMMOVABLE PROPERTY in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a

separate transaction. ” DATE OF AUCTION : 18 August, 2015 PLACE OF AUCTION : The Wanderers Club, 21 North Street, Illovo, Johannesburg 1.6. The auction will commence at the published time and will not be delayed to allow any specific TIME OF AUCTION : 12pm person or more persons in general to take part in the auction. AUCTION HOUSE : Broll Auctions and Sales (Pty) Ltd (Registration Number 2014/250826/07) 1.7. Registration to bid at the auction: AUCTIONEER : Ismail Hendricks Suite 4, 1 st Floor, Atholl Square, Cnr Katherine Drive and 1.7.1 Anyone that intends to bid at the auction must register his or her identity on the bidder’s Wierda Road East, Sandown record prior to the commencement of the auction. Such registration must meet the Contact number: 087 700 8290 requirements of FICA (Financial Intelligence Centre Act, 2001) in respect of the Email: [email protected] establishment and verification of identity of the person, and the person must sign the registration entry.

Will offer for sale by public auction the following immovable property: 1.7.2 A person who attends the auction to bid on behalf of another person (i.e. on behalf ERF : REMAINING EXTENT OF PORTION 176 OF THE FARM of a company) must produce a letter of authority that expressly authorises him or her WONDERBOOM 302, REGISTRATION DIVISION JR to bid on behalf of that person and the person bidding on his or her behalf must meet KNOWN AS : 303 LAVENDER ROAD, WONDERBOOM the requirements set out in clause 1.7.1 above. Where a person is bidding on behalf of IN EXTENT : 8,7896 HECTARES a company the letter of authority must appear on the letterhead of the company and TITLE DEED NUMBER : T144992/06 must be accompanied by a certified copy of the resolution authorising him or her to bid on behalf of the company.

RULES OF AUCTION 1.8 The bidder’s record and the vendor roll will be made available for inspection at the offices of Broll Auctions and Sales (Pty) Ltd during normal business hours without the charge of a fee. 1.1. Each prospective bidder must read these Rules of Auction together with the attached The bidders’ record will also be available for inspection at the auction.

Conditions of Sale Agreement and must not bid unless he or she has done so. 1.9 Broll Auctions and Sales (Pty) Ltd has a trust account. All money due to the seller in terms of 1.2. The sale by auction is subject to a reserve price. the Rules of Auction will be paid into this trust account for the benefit of the seller, minus any commission payable to Broll Auctions and Sales (Pty) Ltd. 1.3. The auctioneer or his agent shall be entitled to bid up to the reserve price on behalf of the

owner, but shall not be entitled to make a bid equal to or exceeding the reserve price. 1.10 The auctioneer will during the auction announce the reason for the auction unless that reason

is the normal and voluntary disposal of property by the seller. 1.4. The rules of auction comply with section 45 of the Consumer Protection Act, Act 68 of 2008 (“the Act”) and with the Consumer Protection Act Regulations (“the Regulations”) that have been published in terms thereof.

Page 2 of 28 303 LAVENDER ROAD, WONDERBOOM

1.11 The total cost of advertising and conducting the auction of the property is R35,000.00 which I the AUCTIONEER do hereby certify that, to the best of my knowledge, these Rules of Auction meet costs are broken down as follows: the requirements of regulation 21 of the Consumer Protection Act Regulations as published in

1.11.1 Advertising costs; Government Gazette No. 34180 of 1 April 2011.

1.11.2 Brochure and marketing material;

1.11.3 Auction venue costs;

1.11.4 Photography. ______AUCTIONEER (duly authorised) DATE

1.12 The conduct of the auction is subject to the control of the auctioneer who has the sole right to

regulate the bidding procedure.

1.13 The sale shall be by the rise and the property shall be sold to the highest bidder subject to the Rules of Auction.

1.14 Every bid shall constitute an offer to purchase the property for the amount bid upon the terms and conditions contained in the Conditions of Sale, which the seller or the auctioneer may accept or reject in their absolute discretion. The seller shall be entitled, in its absolute discretion, to withdraw the property from sale prior to acceptance by the seller.

1.15 If no bid equals or exceeds the reserve price, the property may be withdrawn from the auction.

The seller shall be entitled to instruct the auctioneer to accept any lower bid.

1.16 In the event of any dispute between the bidders, the decision of the auctioneer shall be final

and binding.

1.17 Any error by the auctioneer shall be entitled to be corrected by him.

1.18 No bid may be withdrawn after the fall of the hammer until the expiry of the confirmation period that is provided for in the Conditions of Sale, during which time the offer shall be open for acceptance by the seller or his agent and if the offer is accepted, the sale shall be deemed to be a sale by auction for purposes of the Act.

1.19 The highest bidder ("the purchaser") shall sign the Conditions of Sale immediately on the fall

of the hammer.

Page 3 of 28 303 LAVENDER ROAD, WONDERBOOM Page 4 of 28 303 LAVENDER ROAD, WONDERBOOM

Duly instructed by 1.3. Should the SELLER reject the PURCHASER'S offer, the AUCTIONEER will repay to the AUTUMN STORM INVESTMENTS 333 (PTY) LTD PURCHASER any deposit and commission paid to it in terms of this agreement. (the “SELLER” ) and 1.4. In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale is subject to the granting of such consent. BROLL AUCTIONS AND SALES (PTY) LIMITED

Registration Number 2014/250826/07

Duly represented by: Ismail Hendricks

(the “AUCTIONEER” ) 2. PURCHASE PRICE Hereby offers for sale by public auction the following immovable property: The Purchase Price of the PROPERTY, plus Value Added Tax ("VAT") if applicable, shall be ERF : REMAINING EXTENT OF PORTION 176 OF THE FARM paid as follows: WONDERBOOM 302, REGISTRATION DIVISION JR

KNOWN AS : 303 LAVENDER ROAD, WONDERBOOM 2.1 A deposit of 5% (five per cent) of the Purchase Price payable to the AUCTIONEER by IN EXTENT : 8,7896 HECTARES the PURCHASER immediately on the fall of the hammer, which amount the PURCHASER TITLE DEED NUMBER : T144992/06 hereby authorises the AUCTIONEER to pay over to the SELLER'S Attorneys;

Together with all improvements thereon (the “ PROPERTY ”) on the following terms and conditions: 2.2 The deposit paid in terms of this clause will be invested by the SELLER'S Attorneys on call A. LEASE AGREEMENTS at a commercial bank on behalf of and the interest for the benefit of the PURCHASER. The PURCHASER'S signature hereto shall constitute the PURCHASER'S written consent As per Annexure “A” and Annexure “B” in terms of Section 78(2A) of the Attorneys Act, authorising the SELLER'S Attorneys to invest all amounts paid on account of the Purchase Price in an interest bearing account 1. ACCEPTANCE AND CONFIRMATION with a bank of the SELLER’S Attorneys choice. No monies shall be invested without compliance of clause 8.6 of this Agreement. 1.1. The PURCHASER’S offer shall remain open for acceptance by the SELLER or by the

AUCTIONEER on behalf of the SELLER , until 18H00 on the 27TH day of August, 2015 2.3 The balance of the Purchase Price shall be paid in cash and secured, to the satisfaction (“confirmation period”). The PURCHASER and the AUCTIONEER acknowledge and of the SELLER'S Attorneys, by a written guarantee from a registered financial institution, agree that this provision constitutes a stipulation for the benefit of the SELLER . payable free of exchange, against registration of transfer of the PROPERTY into the

PURCHASER'S name. The PURCHASER may elect to secure the balance of the 1.2. The PURCHASER'S offer shall be deemed to have been accepted only when the Purchase Price by payment in cash to the SELLER'S Attorneys, who shall hold same in SELLER or the AUCTIONEER , whichever may be applicable, has signed these trust, pending registration of transfer into the name of the PURCHASER . The aforesaid Conditions of Sale on behalf of the SELLER in the space provided at the end of this guarantee shall be presented and/or cash shall be payable by the PURCHASER to the Agreement and the Seller shall not be required to notify the PURCHASER of the SELLER'S Attorneys within 45 (forty five) days from date of acceptance by the Seller. acceptance of its offer prior to expiry of the confirmation period.

2.4 Each payment made by the PURCHASER in terms of this Agreement shall be allocated

first to the payment of AUCTIONEER'S Commission, then interest and thereafter to the payment of any other monies due in terms hereof.

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3. VALUE ADDED TAX AND TRANSFER DUTY 3.7 In the event that the sale is VAT exempt or not applicable, the PURCHASER shall pay It is recorded that, if applicable: applicable transfer duty, in addition to the Purchase Price, to the SELLER 's Attorneys

immediately on demand. 3.1 The Purchase Price is exclusive of VAT at the rate of zero percent.

4 AUCTIONEER'S COMMISSION

3.2 It is recorded that it is the intention of the parties that this transaction be a zero rated 4.1 The PURCHASER shall be liable for and pay, in addition to the amounts payable in transaction in terms of Section 11 (1) (e) of the Value Added Tax Act (the “Act”) and it terms of clauses 2.1 and 2.3, AUCTIONEER’S commission of 10% (ten per cent) of is agreed that the purchase price is inclusive of VAT at a rate of zero percent. the Purchase Price, plus VAT thereon, which commission shall be deemed to have

3.3 It is recorded that in the event that VAT is applicable; been earned and is payable immediately upon the fall of the hammer or upon the 3.3.1 The PROPERTY constitutes an enterprise as defined in the Act and is sold signing of this Agreement by the Purchaser, whichever happens first.

as a going concern that will on the date of transfer be an income earning 4.2 If commission is not paid by the PURCHASER to the AUCTIONEER in terms of 4.1 activity capable of separate operation, and the supply of the PROPERTY shall above for any reason whatsoever, the SELLER hereby instructs his attorneys to pay be ‘zero rated’ in terms of Section 11 (1) (e) of the Act; the commission or balance thereof, whichever may be applicable, to the AUCTIONEER

as a first draw from the proceeds of this sale, against registration of transfer of the 3.3.2 The assets and all other aspects of the business that are necessary for PROPERTY into the name of the PURCHASER . carrying on the enterprise, including all existing lease agreements pertaining to the property, are being disposed of to the PURCHASER in terms of this Agreement. 4.3 If this Agreement is cancelled as a consequence of the default by the SELLER , then the SELLER acknowledges and agrees that it shall be jointly and severally liable with 3.4 It is recorded that in the event that VAT is applicable; The SELLER and PURCHASER the PURCHASER for payment of AUCTIONEER’S commission as contemplated respectively warrant to the other that they will, with effect from the date of conclusion of herein. this Agreement, be registered as vendors in terms of the Act. The PURCHASER

undertakes to provide the SELLER’S attorneys with a copy of its VAT Registration 5 OCCUPATIONAL INTEREST Certificate (form VAT 103) at least 21 (twenty one) days before the anticipated Transfer

Date and the PURCHASER warrants that it has applied for VAT registration before the Should the PURCHASER take possession of the PROPERTY prior to registration of transfer, date of conclusion of this Agreement. he shall pay occupational interest, calculated at the rate of 10% (Ten per cent) per annum on the balance of the Purchase Price outstanding and capitalised monthly from date of 3.5 If for any reason VAT is payable on this sale at a rate other than at the zero rate, then possession to date of registration of transfer, without deduction or setoff, on registration of the PURCHASER agrees and undertakes that it will be liable for payment of any such transfer, (both days inclusive). VAT or additional VAT and such VAT will be added to the Purchase Price and payable

on registration of transfer and shall be secured as provided for in clause 2.3 above.

3.6 In the event of VAT being payable on the Purchase Price as a result of the sale, such VAT

shall be payable by the PURCHASER, in addition to the Purchase Price, to the SELLER'S

Attorneys immediately on demand.

Page 7 of 28 303 LAVENDER ROAD, WONDERBOOM Page 8 of 28 303 LAVENDER ROAD, WONDERBOOM

6 RATES AND TAXES AND LEVIES 6.6.2 the Conveyancer’s will, upon registration of transfer, inform the relevant municipality that the Property has been transferred into the Purchaser’s name 6.1 The SELLER shall be liable for all rates and taxes and levies and other Municipal charges and the date of such transfer; and levied on the PROPERTY for the period prior to date of possession and the PURCHASER shall be liable for all rates and taxes and other Municipal charges levied thereafter. 6.6.3 the Purchaser shall, immediately upon registration of transfer of the Property into its name, attend at the offices of the relevant municipality or any other 6.2 The PURCHASER shall refund to the SELLER a pro rata share of all rates and taxes and relevant authority, and will pay the required deposit/s and open rates, water levies and services paid in advance by the SELLER for the period after the date of and electricity consumption accounts in its name. possession, which refund shall be paid upon registration of transfer.

7 SELLER RESIDENCY AND WITHHOLDING TAX 6.3 The Seller hereby indemnifies the Purchaser against any claims that may be made by the relevant authorities / managing agents in respect of arrear rates / levies as at date It is recorded that the SELLER, AUCTIONEER and PURCHASER are aware of an obligation of registration of transfer into the Purchaser’s name. on the part of the PURCHASER to withhold part of the Purchase Price from the SELLER , if the SELLER is a nonSouth African resident, and pay such withheld portion to the South

6.4 The Seller understands and accepts that it is the practice of the City of Johannesburg African Revenue Services (in terms of Section 35A of the Income Tax Act.

and certain other municipalities to require the Seller to pay the full amount required in order to obtain a rates clearance certificate in respect of properties falling within its area,

and to then refund the Seller after registration of transfer, and the Seller will accordingly 8 TRANSFER AND COSTS OF TRANSFER liable to pay the full amount required for a rates clearance certificate in such cases. 8.1 Transfer shall not be passed to the PURCHASER , notwithstanding anything to the 6.5 Any indication of the rates and/or levies payable in respect of the Property that is given contrary herein contained, until such time as the total Purchase Price and all other by the Seller or the Auctioneer is only an approximation based on recent figures amounts, for which the PURCHASER may be liable in terms hereof, have been paid obtained in respect of the Property, and accordingly neither the Seller nor the and/or payment thereof has been secured as herein provided. Auctioneer warrant the actual amounts of the rates / levies applicable to the property. 8.2 Transfer of the PROPERTY shall be passed, by the SELLER'S Attorneys, as soon as possible after date of acceptance, providing the PURCHASER has complied with the 6.6 The parties agree, so as to allow for the orderly transfer of the rates, water and provisions of the aforementioned subclause. electricity accounts in respect of the Property, as follows:

8.3 The PURCHASER hereby specifically authorises and agrees to the SELLER'S Attorneys 6.6.1 if the Property is not held by sectional title, the Seller will notify the relevant municipality, or any other relevant authority, prior to vacating the Property and preparing and submitting a transfer duty form as required by SARS for the clearance of the PROPERTY . request them to take final readings and terminate the electricity and water

service in the Seller’s name upon registration of transfer into the name of the Purchaser; 8.4 Transfer of the PROPERTY shall be effected by the SELLER'S Attorneys and all expenses of and incidental to the preparation and registration of transfer, the conveyancing fees, disbursements and VAT (if applicable), in respect of such transfer, shall be borne by the PURCHASER including all expenses and legal costs incidental to the preparation and

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registration of any mortgage bond to finance the Purchase Price herein, including any 9 POSSESSION AND RISK disbursement levied by the financial institution approving the finance. 9.1 Possession of the PROPERTY, subject to any leases in place over the Property as at the 8.5 In the event of the PURCHASER failing to comply within 7 (seven) days of being requested date of auction, shall only be given by the SELLER and taken by the PURCHASER on by the SELLER'S Attorneys, to furnish them with signed documents or documentation of registration of transfer, provided that clauses 2.1 and 2.3 above have been complied with, whatever nature necessary for effecting transfer, or where applicable to ensure that the from which date all risks and benefits of ownership in respect of the PROPERTY shall mortgage bond documentation or ancillary documentation is satisfactorily completed or in pass to the PURCHASER .

the event of the registration of transfer being delayed as a consequence of a default on part of the PURCHASER (and the widest possible interpretation shall be used in respect 9.2 The PURCHASER , at its own expense, shall insure the PROPERTY and improvements of the terms hereof), then ipso facto on the 8 th (eighth) day after such request, the thereon for the full replacement value thereof from date of possession, against risk of loss PURCHASER shall pay to the SELLER penalty interest, at the rate of 2% (two per centum) or damage by any cause with an insurer acceptable to the SELLER. The SELLER'S th above prime calculated from the said 8 (eighth) day until the date of transfer, (both days interest in the PROPERTY shall be endorsed against such policy for such period. inclusive). 9.3 Upon the PURCHASER taking occupation of the PROPERTY and pending transfer, the 8.6 The PURCHASER acknowledges and accordingly undertakes to comply with all the FICA following conditions shall apply – requirements as set out in Annexure "1" annexed hereto within 7 (seven) days from date of acceptance of this Agreement by the SELLER and to supply the SELLER'S Attorneys 9.3.1 the PURCHASER shall not sell, let or in any other manner dispose of or part all information and documentation required by the SELLER'S Attorneys to enable the with (whether temporarily or otherwise) the PROPERTY or his rights of SELLER'S Attorneys to fulfil their obligations in terms of the Acts mentioned herein under: occupation thereof, except with the written consent of the SELLER , which consent shall not be unreasonably withheld;

8.6.1 The SELLER'S Attorneys are designed as an "accountable institution" in terms 9.3.2 the PURCHASER shall be responsible for and pay all costs of electricity and water consumed in the PROPERTY . of the Financial Intelligence Centres Act No. 38 of 2001 ("FICA");

8.6.2 Certain obligations are placed on the SELLER'S Attorneys in terms of FICA and 10 EXISTING TENANCIES the Prevention of Organised Crime Act 21 of 1998 ("POCA"); 10.1 The PROPERTY is sold subject to all existing tenancies.

8.6.3 The SELLER'S Attorneys shall not invest and administer any deposits or any other monies paid by the PURCHASER in terms of this Agreement, unless the 10.2 The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised . PURCHASER has provided the SELLER'S Attorneys with the documentation that they require in terms of FICA, nor shall the SELLER'S Attorneys be held liable for any loss of interest as a result of the PURCHASER'S failure to comply 10.3 If the highest bid obtained at the auction for the sale of the PROPERTY subject to the herein. lease, is insufficient to meet the amount owing under any Mortgage Bond registered over the PROPERTY , then the PROPERTY may be sold free of any lease which was

entered into after registration of any mortgage bond over the PROPERTY or any lease

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entered into prior to the registration of any mortgage bond of which lease the older of 13 BREACH the mortgage bond had no knowledge 13.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the 11 REPAIRS AND IMPROVEMENTS provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days’ notice in writing to remedy such breach or failure (unless such breach or 11.1 Prior to registration of transfer, the PURCHASER shall not be entitled to effect any failure occurs after the transfer documents have been lodged in the Deeds Office for alterations to the PROPERTY without the prior written consent of the SELLER . registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the Defaulting Party is the PURCHASER 11.2 The SELLER shall not be obliged to compensate the PURCHASER for any authorised and fails to comply with such notice then the SELLER shall forthwith be entitled, but not alteration effected in the event of the sale being cancelled. obliged, without prejudice to any other rights or remedies which the SELLER may have in law, including the right to claim damages:

11.3 The PURCHASER shall be liable for any damages suffered by the SELLER as a result of any alterations effected by the PURCHASER, not authorised by the SELLER. 13.1.1 to cancel this Agreement and upon cancellation the PURCHASER shall forfeit all monies paid to the SELLER , the AUCTIONEER and/or the SELLER'S

Attorneys and the SELLER shall retain the right to recover any costs incurred 12 REPRESENTATIONS by the SELLER to present the PROPERTY at the auction, any further costs to

be incurred by the SELLER to reauction or to resell the PROPERTY as well 12.1 If the sale of the PROPERTY is not subject to the Consumer Protection Act then the as any difference between the purchase price and the price achieved at any PROPERTY is sold “voetstoots” . The sale of the PROPERTY is subject to the terms and subsequent sale of the PROPERTY by the SELLER . A certificate issued by the conditions and servitudes mentioned or referred to in the current and/or prior Title Deeds SELLER or his representative, whose authority needs not be proven, shall be and to the conditions of establishment of the Township in which it is situated and to the prima facie evidence of any such costs and/or difference in purchase price as zoning applied to it under any Town Planning Scheme. The SELLER shall not profit by contemplated herein. The PURCHASER and the SELLER specifically agree any excess nor shall it be answerable for any deficiency in the extent thereof. Neither the that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit SELLER nor the AUCTIONEER shall be responsible for pointing out to the PURCHASER the PROPERTY for auction and all costs pertaining thereto shall be borne and any surveyor’s pegs or beacons in respect of the PROPERTY . paid for by the PURCHASER in addition to any other claims that he may be

liable for in terms of the Agreement; 12.2 The PURCHASER acknowledges that he has not been induced into entering into this Agreement by any express or implied information, statement, advertisement or 13.1.2 or to claim immediate performance and/or payment of all the Defaulting Party's representation made or given any warranties in respect of the PROPERTY or anything obligations in terms hereof. relating thereto, by the AUCTIONEER or any other person, or by or on behalf of the SELLER and that is not contained in this Agreement. The PURCHASER hereby waives 13.2 Upon cancellation of this Agreement for whatever reason, the PURCHASER hereby any rights whatsoever which he may otherwise have obtained against the SELLER or the undertakes to forthwith vacate the PROPERTY and to procure that the PROPERTY shall AUCTIONEER as a result of such information, statement, advertisement, representation be vacated by any persons who occupy the PROPERTY through the PURCHASER'S title or warranty, made by or on behalf of the SELLER or the AUCTIONEER. or by his permission. Occupation shall be redelivered in the same good condition as at the date of possession. 12.3 The PURCHASER acknowledges that he has fully acquainted himself with the PROPERTY that he has purchased.

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13.3 Occupancy of the PROPERTY by the PURCHASER or persons on the authority of the 15.3 The terms of "writing" shall include communications by email or facsimile. PURCHASER shall not create a tenancy either in terms of any statutory provision or at

common law.

16 JOINT AND SEVERAL LIABILITY 13.4 Notwithstanding what is contained herein, should the PURCHASER pay any portion of the deposit, but not pay a portion of or the full commission as required under these Conditions If this agreement is concluded with more than one PURCHASER , the liability of all such of Sale, the PARTIES record and agree that the AUCTIONEER shall be entitled to deduct PURCHASERS to the SELLER and to the AUCTIONEER shall be joint and several in solidum . from any portion of the deposit paid under these Conditions of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the

PURCHASER . 17 SECTIONS 112 and 115 OF THE COMPANIES ACT (SPECIAL RESOLUTION)

13.5 It is recorded further that the deduction by the AUCTIONEER of commission due to it 17.1 The SELLER and the PURCHASER are aware of the provisions of Sections 112 and under the sale does not absolve the PURCHASER from any and all other obligations 115 of the Companies Act 71 of 2008 (as amended) (“Section 112 and 115”), namely that if the SELLER is a company and if the PROPERTY constitutes either all or the arising from these conditions of sale. greater part of the assets or the undertaking of the SELLER , then the directors of the SELLER shall not have the power, save by a special resolution of the shareholders of the SELLER , to sell the PROPERTY . 14 LEGAL COSTS

17.2 Accordingly, the SELLER warrants that the provisions of Sections 112 and 115 are / The Defaulting Party shall be liable for all legal costs incurred by the Aggrieved Party, the are not (delete as appropriate) applicable to the sale of the PROPERTY . AUCTIONEER and his Agent / Attorneys in enforcing the terms of this agreement, on an Attorney and own client scale, including collection commission. 17.3 If Sections 112 and 115 are applicable to the sale of the PROPERTY and if the directors of the SELLER have not already been granted the necessary authority in terms of Sections 112 and 115 to dispose of the PROPERTY , then within 45 (forty five) business 15 DOMICILIUM days of the acceptance date the SELLER shall procure that its shareholders pass a special resolution ratifying the sale of the PROPERTY . 15.1 The PURCHASER and the SELLER hereby choose their respective domicilium citandi et executandi for all purposes in respect of this agreement, including notices and Court 18 NOMINEE process, the address recorded below their signatures hereunder. Any notice sent by pre

paid registered post shall be deemed to have been received on the fifth day after posting; The PURCHASER shall be entitled, by notice in writing to the SELLER , to nominate a nominee any notice delivered by hand shall be deemed to have been received on the day of in his place as PURCHASER , upon the following terms and conditions: delivery; any notice sent by telefax or electronically transmitted by email, shall be deemed

to have been received on the first business day after date of despatch thereof. 18.1 the aforesaid notice shall be handed to the SELLER by not later than 24h00 on the same day as the acceptance date by the SELLER ; 15.2 Notwithstanding anything to the contrary herein contained, any written notice or communication actually received by a Party to this Agreement shall be deemed to be 18.2 the notice shall set out the name and address of the nominee so nominated as PURCHASER ; adequate written notice or communication to him notwithstanding that it was not sent or

delivered at the chosen address / domicilium citandi et executandi or transmitted to such 18.3 the notice shall be accompanied by the nominee’s written acknowledgement: Party's telefax number and/or email address as stipulated herein.

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18.3.1 that it is fully aware of all the terms and conditions of this agreement as if fully 21 ELECTRICAL INSTALLATION CERTIFICATE OF COMPLIANCE set out in such written acknowledgement; and

21.1 The SELLER hereby undertakes to furnish the SELLER'S Attorneys, prior to 18.3.2 that it is bound by the provisions of this agreement as the PURCHASER ; occupation or transfer by the PURCHASER , whichever is the earlier, with a Certificate 18.4 should the PURCHASER nominate a nominee in terms of this clause, then: of Compliance in respect of the PROPERTY , in terms of the Electrical Installation

Regulations of 2009 under the Occupational Health and Safety Act (Act No. 85 of 1993, 18.4.1 all reference to the PURCHASER in this agreement shall be deemed to be a reference to its nominee; and as amended), issued by an electrical contractor who is registered in terms of the Regulations. All costs incurred in obtaining such a certificate, including costs of any 18.4.2 the PURCHASER by his signature hereto, hereby interposes and binds himself repairs or replacements required in order for the certificate to be issued, shall be borne as surety and coprincipal debtor in solidum , for and on behalf of all the obligations of the aforesaid nominee as PURCHASER , to and in favour of the by the SELLER . SELLER , for all the PURCHASER'S obligations under this agreement, including damages, and renounces the benefits of division and excussion . 21.2 Upon the SELLER furnishing the SELLER'S Attorneys with such certificate, the

PURCHASER shall have no claim whatsoever against the SELLER in respect of 19 COMPANY TO BE FORMED electrical installations and no further liability in this regard shall rest upon the SELLER .

19.1 In the event of the PURCHASER signing this agreement in his capacity as agent for a 21.3 The PURCHASER agrees and undertakes to take steps sufficient to ensure, as far as company to be formed and the PURCHASER fails within 20 (twenty) days from date of is reasonably practicable, that the PROPERTY will comply with all prescribed acceptance and confirmation of this agreement to register such company having as one requirements, including the issue of a Certificate of Compliance in respect thereof as of its objects the ratification and adoption of this agreement, or such company fails to adopt required in terms of clause 7 of the Electrical Installation Regulations of 2009 and that or ratify this agreement within 15 (fifteen) days after date of its incorporation, then in such the PROPERTY will be safe and without risks to health. an event the PURCHASER shall be deemed as from the date thereof to have entered into this agreement in his personal capacity and to have acquired all the rights and obligations 21.4 The PURCHASER hereby relieves the SELLER from the duty imposed upon him by of the PURCHASER under this agreement. the provisions of section 10 of Act 85 of 1993. All costs incurred in obtaining such a Certificate of Compliance, including costs of any repairs or replacements required in 19.2 In the event of such company being registered and duly adopting or ratifying this order for the certificate to be issued, shall be borne by the PURCHASER. agreement, or the nomination effected, then the PURCHASER by his signature hereunder, shall be deemed to bind himself to the SELLER as SURETY and coprincipal debtor in 21.5 The SELLER warrants that, as at date of occupation or transfer, whichever is the solidium with such company for the due performance by it as PURCHASER of the terms, earlier; there will have been no addition or alteration to the electrical installations conditions and obligations arising out of this agreement. existing on the PROPERTY subsequent to the issue of such certificate. In the event that there has been any addition and/or alteration, the SELLER shall be obliged to 20 COMPANIES, CLOSE CORPORATIONS, ASSOCIATIONS OR TRUSTS obtain a Certificate of Compliance for at least the addition or alteration. Should the PURCHASER be a company, close corporation, association or trust, the person

signing this agreement on behalf of such PURCHASER , by his signature hereto interposes and An Electrical Certificate of Compliance issued not more 2 (two) years prior to the date of this binds himself as SURETY for and coprincipal debtor with the PURCHASER for the due and Agreement of Sale shall be valid and effective for the purposes of this clause. proper discharge of all its obligations arising from this agreement.

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22 MAGISTRATES' COURT JURISDICTION THE PROPERTY WAS PUT UP FOR SALE BY PUBLIC AUCTION ON THE______DAY OF OF THE YEAR 20______The Parties hereto consent to the jurisdiction of the Magistrates' Court in terms of Section 45 read And sold by the rise for the amount of R with Section 28 of the Magistrates’ Court Act of 1944 as amended. Notwithstanding the

aforementioned, this shall not preclude either Party from approaching the High Court of South (words) Africa for any relief sought. This Agreement shall further be governed in terms of the law of the

Republic of South Africa.

(PLUS VALUE ADDED TAX IF APPLICABLE) 23 GENERAL CLAUSES TO:

COMPANY/ CLOSE CORPORATION/ TRUST/ OTHER 23.1 This Conditions of Sale Agreement constitutes the whole agreement between the Parties ______(hereinafter referred to as the ” PURCHASER ”) as to the subject matter hereof and no agreement, representation or warranty between the ENTITY REGISTRATION / ID NO.: Parties other than those set out herein are binding on the Parties; ADDRESS: 23.2 No extension of time, waiver, indulgence or suspension of any of the provisions of this TELEPHONE DETAILS: (home) agreement, which any Party hereto may have given, shall be binding unless recorded in a (Work) written document signed by all Parties. (Fax) 23.3 No variation or alteration or cancellation of these Conditions of Sale or any of the terms (Email) hereof, shall be of any force or effect, unless in writing and signed by the Parties hereto. (Cell)

MARITAL STATUS (In /Out of Community of PROPERTY) 24 LEASES AND SERVICE STATION BUSINESS SPOUSE’S NAME

SPOUSE’S ID NO 24.1 The Property is sold subject to the existing leases with EXCEL (PTY) LTD (ANNEXURE

“A” – NOTARIAL DEED OF LEASE K3662/1999L) and NOTARIAL DEED OF

SERVITUDE OF PRE-EMPTIVE RIGHTS K3661/1999S; it being recorded that the

PURCHASER shall be bound by the terms and conditions of all existing leases. The

PURCHASER acknowledges that he is fully aware of the terms and conditions of such

leases and deeds, known as “Annexure A” and Annexure B”.

24.2 The PURCHASER acknowledges that in terms of the lease in favour of EXCEL (PTY)

LTD , which the PURCHASER has read, EXCEL has a 60 day right of first refusal to

purchase REMAINING EXTENT OF PORTION 176 OF THE FARM WONDERBOOM

302 JR, at the price and upon the same terms and conditions at which it is knocked

down at the auction, provided that such price is acceptable to the SELLER. The

PURCHASER acknowledges that such right of first refusal takes precedence over these

conditions of sale which will not take effect unless EXCEL declines in writing to exercise

its first refusal or unless such right lapses.

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SIGNED BY THE PURCHASER ON THE ______DAY OF ACCEPTANCE AND CONFIRMATION

Accepted by me this day of 20____ AS WITNESS:

1. ______AS WITNESSES: PURCHASER (and where applicable, the 1. signatory binding himself as SURETY and SELLER (and where applicable the coprincipal debtor in solidium ) SELLER is duly authorised)

AS WITNESS: 2. SELLER'S ADDRESS:

______1. ______BROLL AUCTIONS AND SALES (PTY) ______LTD duly authorised (Broll Auctions and

Sales (Pty) Ltd hereby accepts all the rights conferred upon it in terms of this Agreement)

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DEED OF SURETYSHIP EXTRACT FROM THE MINUTES OF A MEETING OF THE MEMBERS OF I / We the undersigned, ______HELD AT ______ON ______ID NUMBER: ______do hereby interpose and bind myself / ourselves as surety and coprincipal debtor/s in solidum for RESOLVED THAT: and on behalf of the PURCHASER to and in favour of the SELLER and the AUCTIONEER for all the obligations of the PURCHASER under the Conditions of Sale aforegoing and in particular for all 1. The CLOSE CORPORATION BUYS the following PROPERTY amounts of money that may be due, including damages, from whatsoever cause arising under renunciation of the benefits of division and excussion. I/We do further acknowledge that I/we are ______fully aware of all the terms and Conditions of the Conditions of Sale as if fully set out herein .

I/We do accept domicilium et executandi at the address hereinafter set out. from ______

THUS DONE AND SIGNED at this day of for R ______

2. That ______in his capacity as Member be and is hereby AS WITNESSES: authorised to execute and sign all documents necessary to give effect to the above

resolution. 1. ______

SURETY Certified a true copy, 2. ______

SELLER ______MEMBER MEMBER BROLL AUCTIONS AND SALES (PTY) LTD duly authorised

SURETY ADDRESS (PHYSICAL) :

Tel No:

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EXTRACT FROM THE MINUTES OF A MEETING OF THE DIRECTORS OF EXTRACT FROM THE MINUTES OF A MEETING OF THE TRUSTEES OF ______HELD AT ______ON ______HELD AT ______ON ______

RESOLVED THAT: RESOLVED THAT:

2. The Company BUYS the following PROPERTY 3. The Trust BUYS the following PROPERTY

______

from ______from ______

for R ______for R ______

2. That ______in his capacity as Director be and is 2. That ______in his capacity as Trustee be hereby authorised to execute and sign all documents necessary to give effect to the and is hereby authorised to execute and sign all documents necessary to give effect to above resolution. the above resolution.

Certified a true copy, Certified a true copy,

______TRUSTEE TRUSTEE DIRECTOR DIRECTOR

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(ANNEXURE 1) 1.2 Companies:

FICA REQUIREMENTS: Natural Persons [1] CM1. [2] CM22.

[1] South African identity document (foreigners: passport); 1.3 Close Corporations: [2] Utility bill addressed to your residential address less than 3 months (accounts for mobile [1] CK1; phones are not acceptable); [2] and, if applicable, CK2. [3] South African Income Tax reference number.

1.4 Trusts:

[1] Letters of Authority / Master's Certificate; [4] (Confirmation marital status, i.e. unmarried or married.) [2] Trust Deed and all amendments thereto.

[3] Resolution to approve the purchase (and loan application, if applicable) taken before the Agreement of Sale was signed . (The only exception is where it is a cash 1.1 If Married transaction and all the Trustees have signed the Agreement of Sale.) [5] Marriage certificate.

- If IN community of property (no antenuptial contract)

[6] S.A. identity document (foreigner: passport) of your SPOUSE. Detailed FICA requirements for Entities will be supplied to such Purchasers, in due course. - If OUT of community of property (by Antenuptial Contract ("ANC")

[7] Page 1 (and page 2 if necessary) reflecting the registered number and names of both parties. 1.5 FICA requirements for Other Entities, if applicable, will be supplied to such If your Marriage is governed by the Laws of another country/state Purchasers.

[8] S.A. identity document (foreigner: passport) of your SPOUSE;

[9] Name of the country/state governing your marriage, i.e. the country where the husband was living at the time of the marriage with the intention of staying there permanently.

FICA REQUIREMENTS: Entities

Person acting on behalf of the Entity must comply with paragraphs 1 to 4 above.

All directors / members / trustees must also comply with paragraphs 1 to 4 above

PLUS THE FOLLOWING :

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NOTES

______

NOTES Broll Auctions and Sales Suite 4, 1st Floor Atholl Square Cnr Katherine Drive & Wierda Road East, Sandown Ext 3 Johannesburg 2196

Tel +27 87 700 8289 Fax +27 86 247 8768

PO Box 92510 Norwood 2117 South Africa

www.broll.com [email protected]

YOUR PARTNER OF CHOICE FOR COMMERCIAL PROPERTY AUCTIONS YOUR PARTNER OF CHOICE FOR COMMERCIAL PROPERTY AUCTIONS