Terms & Conditions

DEVELOPMENT CONSULTANT AGREEMENT

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Between

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CLIENT

(DEVELOPER CLIENT)

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And

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SUITE STUDIOS PTY LTD ATF SUITE STUDIO TRUST

(DEVELOPMENT CONSULTANT)

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RECITALS

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1. The Developer has satisfied itself that the Development Consultant has the skill and expertise required to perform the duties of Development Consultant.

2. The Developer has agreed to appoint the Development Consultant on the terms set out in this Agreement.

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1.          DEFINITIONS AND INTERPRETATIONS

 

1.1 Definitions

In this Agreement:

(a)“Agreement” means this document, the Schedules, and all attachments.

(b) “Project” means the project to be developed at PROJECT ADDRESS

1.2Interpretation

In this Agreement:

(a)headings are for convenience only and do not affect the interpretation of this Agreement;

(b)words importing the singular include the plural and vice versa;

(c)words importing a gender include any gender;

(d)expressions importing natural persons include any company, partnership, joint venture, association, or corporation;

(e)references to any Act of Parliament, Regulation, Award or Provision include a reference to such Act, Regulation, Award or Provision as from time to time amended, re-issued, modified, consolidated or re-enacted;

(f)a reference to a document includes any Agreement in writing, or any certificate, notice, instrument or other documents of any kind;

(g)where the day on or by which any thing is to be done is not a Working Day, that thing must be done on or by the preceding Working Day;

(h)a reference to any party includes its successors and permitted assigns;

(i)if any ambiguity, discrepancy or inconsistency exists in any term or terms of the documents comprising this Agreement then the terms must be given that interpretation which resolves the ambiguity, discrepancy or inconsistency consistent with the terms of this Agreement as a whole, and no rule of construction will apply to the disadvantage of one party on the basis that that party put forward the documents comprising this Agreement;

(j)“$” and “dollars” means Australian currency;

(k)In this Agreement, “GST”, “Taxable Supply” and “Tax Invoice” each has the meaning given by Section 195-5 of the A New Tax System (Goods and Services Tax) Act 1999 and “GST” includes any similar tax imposed under a Commonwealth, State or Territory law.

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2.Appointment of the DEVELOPMENT CONSULTANT

2.1As per agreement

 

3.General Duties of the DEVELOPMENT CONSULTANT

3.1Project Services include, but are not limited to:

• Undertaking a detailed planning process of the possible future development of the Land and to formulate and present to the Project Committee a range of planning options in respect of the Land

• Procuring of or the supervision of the procuration of all approvals, consents, licenses and permits for the Development of the Land in accordance with the Development Proposal.

• Representing the Property Owner in planning forums and approvals proceedings;

• Designing controls and processes;

• Preparing regular monthly reports on all aspects of the Project in such form and containing such information as the Project Committee may reasonably require from time to time.

• Presenting progress reports to the Project Committee in respect of the Project and the progress made in respect of obtaining Development Approval in the preceding month.

• Formulating the Budget and action plan for Project Committee approval;

•Representing the Project Committee where delegated or directed by Project Committee.

• Monitoring of the engagement and supervision of all Consultants for the Development together with the coordination of all such Consultants with respect to the design and construction in respect of the Development of the Land;

• Coordinating the product pricing of Developed Product;

• Determining the staging and timing of the Development;

• Carrying out of the Development of the Land and the negotiation and acquisition of all rights, privileges, easements, licenses, viaducts, passageways, permits, grants or concessions from adjoining, adjacent or nearby landowners or occupiers, and relevant government bodies or council authorities concerning the Land, insofar as such negotiations and acquisitions may be necessary to implement the Land and Development as designed;

• Day to day coordination and liaison with the Builder;

• Contract management;

• Consultancy commissioning and management;

• Property damage monitoring and reparation claims.

• Managing all building work to ensure that it is carried out in a proper and workmanlike manner and in accordance with all Approvals, the Budget and otherwise in accordance with this Agreement.

• Supervising the placement and maintenance of all insurances appropriate to the Development as are required to be effected from time to time by the persons responsible.

• Procuring and registering such plans of subdivisions including strata subdivision and easements or leases as may be reasonably required for the Development.

• Providing financial and other information about the Land to be made available to any Financier upon its request for such information.

• Assisting with the coordination of all matters pertaining to the financing of the Development including but not limited to managing the financial cashflow of the Development, including interest payments and related finance costs and fees.

• Project Completion – on completion of the build and the occupation certificate is achieved.

 

4.           COMMENCEMENT

4.1         This Agreement shall commence as from the date of execution and the Development Consultant shall from such date become responsible for carrying out the duties of the Project Manager.

 

5.         PAYMENT OF THE DEVELOPMENT CONSULTANT’S FEE

5.1         Subject to the execution of this Agreement by the Development Consultant and in consideration for the performance of services in accordance with this Agreement, the Developer will pay the Development Consultant the Fee. The Fee referred to in this Agreement is exclusive of GST.

5.2         To the extent that any supply made by the Development Consultant to the Developer in respect of project management services is a Taxable Supply, the amount payable in respect of that Taxable Supply (the “original amount”) will be increased by the rate of GST payable by the Developer in respect of that Taxable Supply.

5.3         The increased amount will be payable at the same time and in the same manner as the original amount.

5.4         The Development Consultant shall issue a Tax Invoice to the Developer in respect of the Taxable Supply before the time of payment.

5.5         The Fee payable shall be $50,000.00 (exc GST) per house.

              The Fee shall be payable as follows:

·$5,000 deposit on signed application (payable within 14 days)

·$20,000.00 on commencement of project (on unconditional of project – payable within 14 days)

·$25,000.00 on completion of project (after construction completion – payable within 14 days)

 

6.           DISPUTE RESOLUTION

All dispute resolution will be resolved by a mediator chosen by both parties (a property solicitor). All cost for this will be shared.

 

7.         VARIATIONS TO THE AGREEMENT

7.1         No variation or waiver of any provision of this Agreement will be of any effect unless it is in writing signed by the Parties.

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