Edenburg, Free State

PROPERTY INFORMATION PROPERTY

Single Storey Building on Auction 4 Kerk Street

TUESDAY 9 JUNE 2015 @ 12H00 The Wanderers Club

AUCTIONEER: Ismail Hendricks AGENT: Bakkies Reyneke 082 451 6897 / [email protected] Anthony Khoury 083 601 5071 / [email protected]

TABLE OF CONTENTS

1. Property Summary 4

a. Locality (see Annexure A) 4 b. Legal Information (see Annexures B and C) 4 c. Town Panning (see Annexure D) 4

2. Locational Analysis 4 3. The Development 5 4. Notes 20

ANNEXURES

Annexure A: Locality 6 Annexure B: Title Deed 7 Annexure C: SG Diagrams 11 Annexure E: The Development 14 Annexure G: Building Plans 15

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: “Whilst all 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 companied, the Seller, or any other person”. 2 OPPORTUNITY SUMMARY

Description Single Storey building with street frontage.

Erf Size 172m² Zoning Business Gross Lettable Area 158m2 GLA Tenanted Vacant Occupation GLA Vacant 100% Tenancy 0% R2, 500 per ATM per month. (5 year lease) ATM Income Total: R5, 000 per month. Gross Annual Income: R60, 000

Rates & Taxes Assessment Rates R6,050 Annualised

TOTAL R 6,050

Issues

3 PROPERTY SUMMARY

1.1 Locality (see Annexure A)

Property Address: 4 Kerk Street Suburb and City: Edenburg Local Authority: Kopanong Local Municipality Province: Free State

1.2 Legal Information (see Annexures B and C)

Erf number(s): 215 Edenburg Township: Edenburg Erf Extent: 172m² Title Deed Number: T3446/1985 Registered Owner: ABSA Bank Limited

1.3 Town Panning (see Annexure D)

The property is zoned General Business in terms of the Lindley Town Planning Scheme, subject to the following conditions: Zoning: Business Height: Not available Coverage: Not available F.A.R: Not available Parking: Not available Building line: Not available

2. Locational Analysis

Edenburg is a small sheep and cattle ranching town situated about 80 kilometres (50 mi) south of Bloemfontein in the Free State province of South Africa. As of 2001 it had a population of 8,138. Edenburg was proclaimed a town in 1863, and received municipal government in 1891. The town is situated 85 km south-south-west of Bloemfontein. Laid out on the farm Rietfontein in 1862, it became a municipality in 1891. The name is said to be either of biblical origin or an adaptation of Edinburgh, name of the birthplace in Scotland of the Reverend Andrew Murray, for many years the only minister in the Orange Free State. The N1 highway bypasses the town to the east, while the Port Elizabeth–Bloemfontein railway runs along its western edge

4 3. The Development

A single storey building of brick construction, mainly plastered to the front but with face brick insets and high level steel framed windows (above the ATM’s) with face brick walls to the side and rear elevations. There are aluminium framed shop fronts and double aluminium framed entrance doors in turn secured by timber swing doors to the street frontage. The building has high parapet walls with a low pitched timer roof behind clad with galvanised sheeting.

Internal

A dated specification it has tiled floors to the banking hall under suspended ceilings incorporating down lighters and air-conditioning (split) units. The offices have carpets under suspended ceilings with fluorescent lighting, and dry wall partitioning.

There is brick paving to the ATM’s. There is an unsecured driveway along the western boundary of the property, outside the ownership of ABSA but which gives access to the rear of the property. There is street parking but no onsite parking.

DESCRIPTION QUANTITY

Offices 158m²

Total Rentable Area 158m²

5 ANNEXURE A ANNEXURE

ANNEXURE A

LOCALITY

6 ANNEXURE B

TITLE DEED

10 ANNEXURE C

SG DIAGRAM(S)

13 ANNEXURE E

THE DEVELOPMENT

FRONT EXTERIOR

INTERIOR INTERIOR

14 ANNEXURE G

BUILDING PLANS

Rules of Auction and Conditions of Sale

1.3. The AUCTIONEER or his agent shall be entitled to bid up to the reserve price on IMMOVABLE PROPERTY behalf of the owner, but shall not be entitled to make a bid equal to or exceeding the reserve price. DATE OF AUCTION : 9 JUNE 2015 PLACE OF AUCTION: THE WANDERERS CLUB, ILLOVO, SANDTON 1.4. The rules of auction comply with section 45 of the Consumer Protection Act, Act 68 TIME OF AUCTION : 12PM of 2008 (“the Act”) and with the Consumer Protection Act Regulations (“the AUCTION HOUSE : Broll Auctions and Sales (Pty) Ltd Regulations”) that have been published in terms thereof. (Registration Number 2014/250826/07) AUCTIONEER : Ismail Hendricks 1.5. Section 45 subsection (2) of the Act provides that: “ When goods are put up for sale Suite 4, 1 st Floor, Atholl Square, Cnr Katherine Drive and by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be Wierda Road East, Sandown the subject of a separate transaction. ” Contact number: 087 700 8290 Email: [email protected] 1.6. The auction will commence at the published time and will not be delayed to allow any specific person or more persons in general to take part in the auction.

Will offer for sale by public auction the following immovable property: 1.7. Registration to bid at the auction: ERF : 215 EDENBURG 1.7.1 Anyone that intends to bid at the auction must register his or her identity on the KNOWN AS : 4 KERK STREET, EDENBURG bidder’s record prior to the commencement of the auction. Such registration

must meet the requirements of FICA (Financial Intelligence Centre Act, 2001) IN EXTENT : 172m² in respect of the establishment and verification of identity of the person, and the

person must sign the registration entry. TITLE DEED NUMBER : T34461985

1.7.2 A person who attends the auction to bid on behalf of another person (i.e. on behalf of a company) must produce a letter of authority that expressly RULES OF AUCTION authorises him or her to bid on behalf of that person and the person bidding on his or her behalf must meet the requirements set out in clause 1.7.1 above. 1.1. Each prospective bidder must read these Rules of Auction together with the Where a person is bidding on behalf of a company the letter of authority must attached Conditions of Sale Agreement and must not bid unless he or she has appear on the letterhead of the company and must be accompanied by a done so. certified copy of the resolution authorising him or her to bid on behalf of the company. 1.2. The sale by auction is subject to a reserve price.

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1.8 The bidder’s record and the vendor roll will be made available for inspection at the 1.14 Every bid shall constitute an offer to purchase the property for the amount bid upon offices of Broll Auctions and Sales (Pty) Ltd during normal business hours without the the terms and conditions contained in the Conditions of Sale, which the SELLER or charge of a fee. The bidders’ record will also be available for inspection at the auction. 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 1.9 A deposit of 5% (five per cent) of the Purchase Price plus 5% (five per cent) acceptance by the SELLER . AUCTIONEER ’s commission is payable to the AUCTIONEER by the PURCHASER immediately on the fall of the hammer, which amount the PURCHASER hereby 1.15 If no bid equals or exceeds the reserve price, the PROPERTY may be withdrawn authorises the AUCTIONEER to pay over to Broll Auction Pty Ltd. Broll Auction Pty (Ltd) from the auction. The SELLER shall be entitled to instruct the AUCTIONEER to will pay the deposit of 5% (five per cent) of the Purchase Price plus 5% (five per cent) accept any lower bid.

AUCTIONEER ’s commission to the SELLER’s transferring attorneys immediately after the PURCHASER has effected payment. The balance of all moneys due to the 1.16 In the event of any dispute between the bidders, the decision of the AUCTIONEER SELLER in terms of the Rules of Auction will be paid into the trust account of the shall be final and binding. transferring attorneys for the benefit of the SELLER on transfer of the property.

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

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 . 1.18 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 1.11 The total cost of advertising and conducting the auction, will be paid by the SELLER the offer shall be open for acceptance by the SELLER or his agent and if the offer is of the property, which is approximately R35,000.00 per property ( excluding VAT) accepted, the sale shall be deemed to be a sale by auction for purposes of the Act.

which costs are broken down as follows: 1.11.1 Advertising costs; 1.19 The highest bidder ("the purchaser") shall sign the Conditions of Sale immediately on

1.11.2 Brochure and marketing material; the fall of the hammer.

1.11.3 Auction venue costs; I the AUCTIONEER do hereby certify that, to the best of my knowledge, these Rules of 1.11.4 Photography. Auction meet the requirements of regulation 21 of the Consumer Protection Act Regulations as published in Government Gazette No. 34180 of 1 April 2011. 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 fall of the hammer and the PROPERTY shall be sold ______to the highest bidder subject to the Rules of Auction. AUCTIONEER (duly authorised) DATE

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Duly instructed by 1.3. Should the SELLER reject the PURCHASER'S offer, the AUCTIONEER will ABSA BANK LIMITED repay to the PURCHASER any deposit and commission paid to it in terms of this (the “SELLER”) Agreement. and 1.4. In the event of the sale requiring the consent of any statutory authority or any court BROLL AUCTIONS AND SALES (PTY) LIMITED of law, then this sale is subject to the granting of such consent. Registration Number 2011/117540/07

Duly represented by: Ismail Hendricks 2. PURCHASE PRICE (the “AUCTIONEER”)

The Purchase Price of the PROPERTY, plus Value Added Tax ("VAT") if applicable, Hereby offers for sale by public auction the following immovable property: shall be paid as follows: ERF : 215 EDENBURG KNOWN AS : 4 KERK STREET, EDENBURG 2.1 A deposit of 5% (five per cent) of the Purchase Price payable to the IN EXTENT : 172m² AUCTIONEER by the PURCHASER immediately on the fall of the hammer, which TITLE DEED NUMBER : T34461985 amount the PURCHASER hereby authorises the AUCTIONEER to pay over to Broll Auction (Pty) Ltd. Broll Auction Pty (Ltd) will pay the deposit of 5% (five per cent) of the Purchase Price to the SELLER’s transferring attorneys immediately after the PURCHASER has effected payment. 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 1. ACCEPTANCE AND CONFIRMATION transferring attorneys on call at a commercial bank on behalf of the PURCHSER and the interest shall be for the benefit of the PURCHASER. The PURCHASER'S 1.1. The PURCHASER’S offer shall remain open for acceptance by the SELLER or signature hereto shall constitute the PURCHASER'S written consent in terms of by the AUCTIONEER on behalf of the SELLER , until 18H00 on the 19th day of Section 78(2A) of the Attorneys Act, authorising the SELLER'S transferring JUNE, 2015 (“confirmation period”). The PURCHASER and the AUCTIONEER attorneys to invest all amounts paid on account of the Purchase Price in an interest acknowledge and agree that this provision constitutes a stipulation for the benefit bearing account with a bank of the SELLER’S transferring attorneys choice. of the SELLER . 3.1 The balance of the Purchase Price shall be paid in cash and secured, to the

satisfaction of the SELLER'S transferring attorneys, by a written guarantee from 1.2. The PURCHASER'S offer shall be deemed to have been accepted only when the a registered financial institution, payable free of exchange, against registration of SELLER or the AUCTIONEER , whichever may be applicable, has signed these transfer of the PROPERTY into the PURCHASER'S name. The PURCHASER Conditions of Sale on behalf of the SELLER in the space provided at the end of may elect to secure the balance of the Purchase Price by payment in cash to the this Agreement and the SELLER shall not be required to notify the PURCHASER SELLER'S transferring attorneys, who shall hold same in trust, pending of the acceptance of its offer prior to expiry of the confirmation period. registration of transfer into the name of the PURCHASER . The aforesaid

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guarantee shall be presented and/or cash shall be payable by the PURCHASER been earned on the fall of the hammer or upon the signing of this Agreement by the to the SELLER'S transferring attorneys within 45 (forty five) days from date of PURCHASER , whichever happens first. acceptance by the Seller. 5 OCCUPATIONAL INTEREST

3. VALUE ADDED TAX Should the PURCHASER take possession of the PROPERTY prior to registration of 3.2 The SELLER and PURCHASER respectively warrant to the other that they will, transfer, he shall pay occupational interest, calculated at the rate of 2% (Two per cent) with effect from the date of conclusion of this Agreement, be registered as on the balance of the Purchase Price outstanding and capitalised monthly from date vendors in terms of the Act. The PURCHASER undertakes to provide the of possession to date of registration of transfer, without deduction or setoff.

SELLER’S attorneys with a copy of its VAT Registration Certificate (form VAT 103) at least 21 (twenty one) days before the anticipated Transfer Date and the 6 RATES, TAXES AND LEVIES PURCHASER warrants that it has applied for VAT registration before the date of conclusion of this Agreement. 6.1 The SELLER shall be liable for all rates, taxes and levies and other Municipal charges levied on the PROPERTY for the period prior to date of possession and 3.3 If for any reason VAT is payable on this sale at a rate other than at the zero the PURCHASER shall be liable for all rates, taxes and other Municipal charges rate, then the PURCHASER agrees and undertakes that it will be liable for levied thereafter. payment of any such 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 6.2 The PURCHASER shall refund to the SELLER a pro rata share of all rates, taxes provided for in clause 3.3 above. and levies and services paid in advance by the SELLER for the period after the date of possession, which refund shall be paid upon registration of transfer. 3.4 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 6.3 The SELLER hereby indemnifies the PURCHASER against any claims that may Price, to the SELLER'S Attorneys immediately on demand. be made by the relevant authorities / managing agents in respect of arrear rates,

taxes and levies as at date of registration of transfer into the PURCHASER ’s 3.5 In the event that the sale is VAT exempt, the PURCHASER shall pay applicable name. transfer duty, in addition to the Purchase Price, to the SELLER 's Attorneys

immediately on demand. 6.4 The SELLER understands and accepts that it is the practice of the Deeds

Registry Office and municipalities to require the SELLER to pay the full amount 4 AUCTIONEER'S COMMISSION 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 The PURCHASER shall be liable for and pay, in addition to the amounts payable in transfer, and the SELLER will accordingly be liable to pay the full amount terms of clauses 2.1 and 3.3, AUCTIONEER’S commission of 5% (five per cent) of required for a rates clearance certificate in such cases. The SELLER the Purchase Price, plus VAT thereon. Such commission shall be deemed to have undertakes to comply with the provisions of sections 118(1) and 118(3) of the

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Municipal Systems Act of 2000 when obtaining a rates clearance certificate for

purposes of passing transfer of the PROPERTY to the PURCHASER . 7 TRANSFER AND COSTS OF TRANSFER

6.5 Any indication of the rates, taxes and levies payable in respect of the 7.1 Transfer shall not be passed to the PURCHASER , notwithstanding anything to PROPERTY that is given by the SELLER or the AUCTIONEER is only an the contrary herein contained, until such time as the total Purchase Price and all approximation based on recent figures obtained in respect of the PROPERTY , other amounts, for which the PURCHASER may be liable in terms hereof, have and accordingly neither the SELLER nor the AUCTIONEER warrant the actual been paid and/or payment thereof has been secured as herein provided. amounts of the rates, taxes and levies applicable to the PROPERTY. 7.2 Transfer of the PROPERTY shall be passed, by the SELLER'S transferring 6.6 The parties agree, so as to allow for the orderly transfer of the rates, taxes, attorneys, as soon as possible after date of acceptance, provided the water and electricity accounts in respect of the PROPERTY , as follows: PURCHASER has complied with the provisions of the aforementioned sub clause.

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 7.3 The PURCHASER hereby specifically authorises and agrees to the SELLER'S the PROPERTY and request them to take final readings and terminate transferring attorneys preparing and submitting a transfer duty form as required the electricity and water service in the SELLER’s name upon registration by the South African Revenue Services (SARS) for the clearance of the of transfer into the name of the PURCHASER ; PROPERTY .

6.6.2 the SELLER ’s transferring attorneys will, upon registration of transfer, Transfer of the PROPERTY shall be effected by the SELLER'S transferring inform the relevant municipality that the PROPERTY has been attorneys and all expenses of and incidental to the preparation and registration of transferred into the PURCHASER’s name and the date of such transfer; transfer, the conveyancing fees, disbursements and Transfer Duty / VAT and (whichever is applicable), in respect of such transfer, shall be borne by the PURCHASER including all expenses and legal costs incidental to the preparation 6.6.3 the PURCHASER shall, immediately upon registration of transfer of the and registration of any mortgage bond to finance the Purchase Price herein, PROPERTY into its name, attend at the offices of the relevant including any disbursement levied by the financial institution approving the municipality or any other relevant authority, and will pay the required finance. deposit/s and open rates, taxes, water and electricity consumption accounts in its name. The PURCHASER hereby indemnifies the 7.4 In the event of the PURCHASER failing to comply within 7 (seven) days of being SELLER against any claims that may be made against the SELLER by requested by the SELLER'S transferring attorneys, to furnish them with signed the relevant authorities and/or managing agents in respect of rates, documents or documentation of whatever nature necessary for effecting transfer, taxes, water and electricity consumption and/or levy accounts due to the or where applicable to ensure that the mortgage bond documentation or ancillary PURCHSER’s failure to, immediately upon registration, pay the required documentation is satisfactorily completed or in the event of the registration of deposit/s and open levy, rates, taxes, water and electricity consumption transfer being delayed as a consequence of a default on the part of the accounts in its name.

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PURCHASER (and the widest possible interpretation shall be used in respect of taken by the PURCHASER on registration of transfer, unless otherwise agreed the terms hereof), then ipso facto on the 8 th (eighth) day after such request, the upon by the parties, provided that clauses 2.1 and 3.3 above have been complied PURCHASER shall pay to the SELLER penalty interest, at the rate of 2% (two with, from which date all risks and benefits of ownership in respect of the per centum) above prime calculated from the said 8 th (eighth) day until the date of PROPERTY shall pass to the PURCHASER . transfer, (both days inclusive). 8.2 Subject to the provisions of clause 8.1, in the event of the parties agreeing to

7.5 The PURCHASER acknowledges and accordingly undertakes to comply with all possession and occupation of the PROPERTY by the PURCHASER prior to the FICA requirements as set out in Annexure "1" annexed hereto within 7 registration of transfer, the PURCHASER shall, at its own expense, insure the (seven) days from date of acceptance of this Agreement by the SELLER and to contents of the PROPERTY and improvements thereon for the full replacement supply the SELLER'S transferring attorneys all information and documentation value thereof from date of possession and occupation, against risk of loss or required by the SELLER'S transferring attorneys to enable the SELLER'S damage by any cause with an insurer acceptable to the SELLER. The SELLER'S transferring attorneys to fulfil their obligations in terms of the Acts mentioned interest in the PROPERTY shall be endorsed against such policy for such period. herein under:

8.3 In the event of the PURCHASER taking occupation of the PROPERTY prior to 7.5.1 The SELLER'S transferring attorneys are designed as an "accountable registration of transfer, the following conditions shall apply – institution" in terms of the Financial Intelligence Centres Act No. 38 of 2001

("FICA"); 8.3.1 the PURCHASER shall not sell, let or in any other manner dispose of or

part with (whether temporarily or otherwise) the PROPERTY or his rights 7.5.2 Certain obligations are placed on the SELLER'S transferring attorneys in of occupation thereof, except with the written consent of the SELLER , terms of FICA and the Prevention of Organised Crime Act 21 of 1998 which consent shall not be unreasonably withheld; ("POCA");

8.3.2 the PURCHASER shall be responsible for and pay all costs of rates,taxes, 7.5.3 The SELLER'S transferring attorneys shall not invest and administer any electricity and water consumed in the PROPERTY . deposits or any other monies paid by the PURCHASER in terms of this Agreement, unless the PURCHASER has provided the SELLER'S 9 EXISTING TENANCIES transferring attorneys with the documentation that they require in terms of

FICA, nor shall the SELLER'S transferring attorneys be held liable for any 9.1 The PROPERTY is sold subject to all existing tenancies. loss of interest as a result of the PURCHASER'S failure to comply herein.

9.2 The PURCHASER shall be bound by the terms and conditions of all existing 8 POSSESSION AND RISK leases, of which he acknowledges he is fully apprised .

8.1 Possession and occupation of the PROPERTY , is subject to any leases in place 9.3 If the highest bid obtained at the auction for the sale of the PROPERTY subject over the PROPERTY as at the date of auction, shall be given by the SELLER and to the lease, is insufficient to meet the amount owing under any mortgage bond

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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 11.3 The PURCHASER acknowledges that he has fully acquainted himself with the PROPERTY or any lease entered into prior to the registration of any mortgage PROPERTY that he has purchased. bond of which lease the older of the mortgage bond had no knowledge

12 BREACH 10 REPAIRS AND IMPROVEMENTS

12.1 If one of the parties commits a breach of this Agreement or fails to comply with 10.1 Prior to registration of transfer, the PURCHASER shall not be entitled to effect any any of the provisions hereof, then the aggrieved party shall be entitled to give the alterations to the PROPERTY. defaulting party 7 (seven) working days’ notice in writing to remedy such breach

or failure (unless such breach or failure occurs after the transfer documents have 10.2 The PURCHASER shall be liable for any damages suffered by the SELLER as a been lodged in the Deeds Office for registration, in which case the 7 (seven) day result of any alterations effected by the PURCHASER, not authorised by the period may, at the election of the aggrieved party be reduced to 48 (forty eight) SELLER. hours). If the defaulting party is the PURCHASER and fails to comply with such notice then the SELLER shall forthwith be entitled, but not obliged, without 11 REPRESENTATIONS prejudice to any other rights or remedies which the SELLER may have in law, including the right to claim damages: 11.1 If the sale of the PROPERTY is not subject to the Consumer Protection Act then the PROPERTY is sold “voetstoots” . The sale of the PROPERTY is subject to the 12.1.1 to cancel this Agreement and upon cancellation the PURCHASER shall terms and conditions and servitudes mentioned or referred to in the current and/or forfeit all monies paid to the SELLER , the AUCTIONEER and/or the prior Title Deeds and to the conditions of establishment of the Township in which SELLER'S transferring attorneys and the SELLER shall retain the right to it is situated and to the zoning applied to it under any Town Planning Scheme. recover any costs incurred by the SELLER to present the PROPERTY at The SELLER shall not profit by any excess nor shall it be answerable for any the auction, any further costs to be incurred by the SELLER to reauction deficiency in the extent thereof. . or to resell the PROPERTY as well as any difference between the Purchase Price and the price achieved at any subsequent sale of the

11.2 The PURCHASER acknowledges that he has not been induced into entering into PROPERTY by the SELLER . A certificate issued by the SELLER or his this Agreement by any express or implied information, statement, advertisement representative, whose authority needs not be proven, shall be prima facie or representation made or given any warranties in respect of the PROPERTY or evidence of any such costs and/or difference in Purchase Price as anything relating thereto, by the AUCTIONEER or any other person, or by or on contemplated herein. The PURCHASER and the SELLER specifically behalf of the SELLER and that is not contained in this Agreement. The agree that the AUCTIONEER shall be entitled, but not obliged, to PURCHASER hereby waives any rights whatsoever which he may otherwise immediately resubmit the PROPERTY for auction and all costs pertaining have obtained against the SELLER or the AUCTIONEER as a result of such thereto shall be borne and paid for by the PURCHASER in addition to any information, statement, advertisement, representation or warranty, made by or on other claims that he may be liable for in terms of the Agreement; behalf of the SELLER or the AUCTIONEER.

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12.1.2 or to claim immediate performance and/or payment of all the defaulting telefax or electronically transmitted by email, shall be deemed to have been party's obligations in terms hereof. received on the first business day after date of despatch thereof.

12.2 Upon cancellation of this Agreement for whatever reason, the PURCHASER 13.2 Notwithstanding anything to the contrary herein contained, any written notice or hereby undertakes to forthwith vacate the PROPERTY and to procure that the communication actually received by a party to this Agreement shall be deemed to PROPERTY shall be vacated by any persons who occupy the PROPERTY be adequate written notice or communication to him notwithstanding that it was through the PURCHASER'S title or by his permission. Occupation shall be re not sent or delivered at the chosen address / domicilium citandi et executandi or delivered in the same good condition as at the date of possession. transmitted to such party’s telefax number and/or email address as stipulated herein. 12.3 Occupancy of the PROPERTY by the PURCHASER or persons on the authority

of the PURCHASER shall not create a tenancy either in terms of any statutory 13.3 The terms of "writing" shall include communications by email or facsimile. provision or at common law.

14 JOINT AND SEVERAL LIABILITY 12.4 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 If this Agreement is concluded with more than one PURCHASER , the liability of all such under these Conditions of Sale, the parties record and agree that the PURCHASERS to the SELLER and to the AUCTIONEER shall be joint and several in AUCTIONEER shall be entitled to deduct from any portion of the deposit paid solidum . under these Conditions of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PURCHASER .

12.5 It is recorded further that the deduction by the AUCTIONEER of commission due 15 SECTIONS 112 and 115 OF THE COMPANIES ACT 2008 (SPECIAL to it under the sale does not absolve the PURCHASER from any and all other RESOLUTION) obligations arising from these Conditions of Sale. 15.1 The SELLER and the PURCHASER are aware of the provisions of Sections

13 DOMICILIUM 112 and 115 of the Companies Act 71 of 2008 (as amended) (“Section 112 and 115”), namely that if the SELLER is a company and if 13.1 The PURCHASER and the SELLER hereby choose their respective domicilium the PROPERTY constitutes either all or the greater part of the assets or the citandi et executandi for all purposes in respect of this Agreement, including undertaking of the SELLER , then the directors of the SELLER shall not have notices and Court process, the address recorded below their signatures the power, save by a special resolution of the shareholders of the SELLER , to hereunder. Any notice sent by prepaid registered post shall be deemed to have sell the PROPERTY . been received on the (5) fifth day after posting; any notice delivered by hand shall be deemed to have been received on the day of delivery; any notice sent by 15.2 Accordingly, the SELLER warrants that the provisions of Sections 112 and 115 are / are not (delete as appropriate) applicable to the sale of the PROPERTY .

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15.3 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 17 COMPANY TO BE FORMED in terms of Sections 112 and 115 to dispose of the PROPERTY , then within 45 (forty five) business days of the acceptance date the SELLER shall procure that 17.1 In the event of the PURCHASER signing this Agreement in his capacity as agent its shareholders pass a special resolution ratifying the sale of the PROPERTY . for a company to be formed and the PURCHASER fails within 30 (thirty) days from date of acceptance and confirmation of this Agreement to register such 16 NOMINEE company having as one of its objects the ratification and adoption of this Agreement, or such company fails to adopt or ratify this Agreement within 15 The PURCHASER shall be entitled, by notice in writing to the SELLER , to nominate a (fifteen) days after date of its incorporation, then in such an event the nominee in his place as PURCHASER , upon the following terms and conditions: 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 16.1 the aforesaid notice shall be handed to the SELLER by not later than 24h00 on obligations of the PURCHASER under this Agreement. the same day as the acceptance date by the SELLER ; 17.2 In the event of such company being registered and duly adopting or ratifying this 16.2 the notice shall set out the name and address of the nominee so nominated as Agreement, or the nomination effected, then the PURCHASER by his signature PURCHASER ; hereunder, shall be deemed to bind himself to the SELLER as surety and co principal debtor in solidium with such company for the due performance by it as 16.3 the notice shall be accompanied by the nominee’s written acknowledgement: PURCHASER of the terms, conditions and obligations arising out of this

Agreement. 16.3.1 that it is fully aware of all the terms and conditions of this Agreement as if

fully set out in such written acknowledgement; and 18 COMPANIES, CLOSE CORPORATIONS, ASSOCIATIONS OR TRUSTS 16.3.2 that it is bound by the provisions of this Agreement as the PURCHASER ; Should the PURCHASER be a company, close corporation, association or trust, the 16.4 should the PURCHASER nominate a nominee in terms of this clause, then: person signing this Agreement on behalf of such PURCHASER , by his signature hereto interposes and binds himself as surety for and coprincipal debtor with the 16.4.1 all reference to the PURCHASER in this Agreement shall be deemed to PURCHASER for the due and proper discharge of all its obligations arising from this be a reference to its nominee; and Agreement.

16.4.2 the PURCHASER by his signature hereto, hereby interposes and binds 19 ELECTRICAL INSTALLATION CERTIFICATE OF COMPLIANCE himself as surety and coprincipal debtor in solidum , for and on behalf of

all the obligations of the aforesaid nominee as PURCHASER , to and in 19.1 The SELLER hereby undertakes to furnish the SELLER'S transferring favour of the SELLER , for all the PURCHASER'S obligations under this attorneys, prior to transfer of the PROPERTY with a Certificate of Compliance Agreement, including damages, and renounces the benefits of division and in respect of the PROPERTY , in terms of the Electrical Installation Regulations excussion . of 2009 under the Occupational Health and Safety Act (Act No. 85 of 1993, as

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amended), issued by an electrical contractor who is registered in terms of the 21 GENERAL CLAUSES Regulations. All costs incurred in obtaining such a certificate, including costs of any repairs or replacements required in order for the certificate to be issued, 21.1 This Conditions of Sale Agreement constitutes the whole Agreement between the shall be borne by the SELLER . parties as to the subject matter hereof and no Agreement, representation or warranty between the parties other than those set out herein are binding on the 19.2 Upon the SELLER furnishing the SELLER'S transferring attorneys with such parties; certificate, the PURCHASER shall have no claim whatsoever against the SELLER in respect of electrical installations and no further liability in this regard 21.2 No extension of time, waiver, indulgence or suspension of any of the provisions shall rest upon the SELLER . of this Agreement, which any party hereto may have given, shall be binding unless recorded in a written document signed by all parties. 19.3 The PURCHASER agrees and undertakes to take steps sufficient to ensure, as

far as is reasonably practicable, that the PROPERTY will comply with all 21.3 No variation or alteration or cancellation of these Conditions of Sale or any of the prescribed requirements, including the issue of a Certificate of Compliance in terms hereof, shall be of any force or effect, unless in writing and signed by the respect thereof as required in terms of clause 7 of the Electrical Installation parties hereto. Regulations of 2009 and that the PROPERTY will be safe and without risks to health.

19.4 An Electrical Certificate of Compliance issued not more 2 (two) years prior to the date of this Agreement of Sale shall be valid and effective for the purposes of this clause.

20 MAGISTRATES' COURT JURISDICTION

The parties hereto consent to the jurisdiction of the Magistrates' Court in terms of Section 45 read 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 Africa for any relief sought. This Agreement shall further be governed in terms of the law of the Republic of South Africa.

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THE PROPERTY WAS PUT UP FOR SALE BY PUBLIC AUCTION ON THE SIGNED BY THE PURCHASER ON THE ______DAY OF DAY OF OF THE YEAR 20______AS WITNESS: 1. ______

PURCHASER (and where applicable, And sold by the rise for the amount of R the signatory binding himself as

SURETY and coprincipal debtor in (words) solidium )

AS WITNESS: (PLUS VALUE ADDED TAX IF APPLICABLE)

1. TO: BROLL AUCTIONS AND SALES COMPANY/ CLOSE CORPORATION/ TRUST/ OTHER (PTY) LTD duly authorised (Broll ______(hereinafter referred to as the ” PURCHASER ”) Auctions and Sales (Pty) Ltd hereby ENTITY REGISTRATION / ID NO.: accepts all the rights conferred upon ADDRESS: it in terms of this Agreement) TELEPHONE DETAILS: (home) (Work) ACCEPTANCE AND CONFIRMATION (Fax) Accepted by me this day of 20____ (Email)

(Cell) AS WITNESSES: MARITAL STATUS (In /Out of Community of PROPERTY) 1. SPOUSE’S NAME SELLER (and where applicable the SPOUSE’S ID NO SELLER is duly authorised)

2. SELLER'S ADDRESS: ______

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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 RESOLVED THAT: solidum for 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 1. The CLOSE CORPORATION BUYS the following PROPERTY aforegoing and in particular for all 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 from ______executandi at the address hereinafter set out.

for R ______THUS DONE AND SIGNED at this day of

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

Certified a true copy, Certified a true copy,

______TRUSTEE TRUSTEE DIRECTOR DIRECTOR

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(ANNEXURE 1) FICA REQUIREMENTS: Entities

FICA REQUIREMENTS: Natural Persons 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 [1] South African identity document (foreigners: passport); PLUS THE FOLLOWING : [2] Utility bill addressed to your residential address less than 3 months (accounts for

mobile phones are not acceptable); [3] South African Income Tax reference number. 1.2 Companies:

[1] CM1. [4] (Confirmation marital status, i.e. unmarried or married.) [2] CM22.

1.3 Close Corporations:

1.1 If Married [1] CK1; [2] and, if applicable, CK2. [5] Marriage certificate.

1.4 Trusts: - If IN community of property (no antenuptial contract) [1] Letters of Authority / Master's Certificate; [6] S.A. identity document (foreigner: passport) of your SPOUSE. [2] Trust Deed and all amendments thereto. - If OUT of community of property (by Antenuptial Contract ("ANC") [3] Resolution to approve the purchase (and loan application, if applicable) taken before the Agreement of Sale was signed . (The only exception is [7] Page 1 (and page 2 if necessary) reflecting the registered number and names of where it is a cash transaction and all the Trustees have signed the Agreement both parties. of Sale.)

If your Marriage is governed by the Laws of another country/state

[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 Detailed FICA requirements for Entities will be supplied to such Purchasers, husband was living at the time of the marriage with the intention of staying there in due course. permanently.

1.5 FICA requirements for Other Entities, if applicable, will be supplied to such Purchasers.

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NOTES

______

NOTES

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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