Hi Dario, recently my parent bought commercial property and I would like to seek for your advise whether the following section part (Payment of other sums) is follow the same standard as others?

"Section 5.01 - Outgoing, Quit Rent, Rates, Assessments and Insurance"

"From the date of this agreement until the day the separate document of title to the Said Property is transferred to the Purchaser, the Purchaser shall duly and punctually pay to the Vendor such outgoing payable in respect of the Master Land in such proportion as the area of the Said Land bears to the total area of the Master Land, excluding the areas reserved for roads open spaces electricity substation septic tanks and other communal amenities, including but not limited to quit rents, rates, taxes, assessments and other charges imposed or to be imposed by the Appropriate Authorities and the Purchaser shall effect such payments in the manner at the times and in the proportion as may be determined by Vendor."

"Section 5.02 - Interim Maintenance"

"The Vendor shall undertake the maintenance upkeep and repair of the infrastructure of the development and provide services including street lighting, refuse collection and cleaning of public drains as from the date of delivery of vacant possession until the same are taken over by the Appropriate Authorities and the Purchaser shall pay an appropriate monthly contribution to the Vendor for such maintenance and services notwithstanding in the fact that the Purchaser is required to pay assessments to the Appropriates Authorities in respect of the services to the Said Property and the separate document to the Said Property shall have been transferred to the Purchaser"


"Section 5.04 - Additional Charges or Impositions"

"if as a result of the introduction of new laws by-laws rules or regulations or the amendment of existing laws by-laws rules or regulations, it shall be imposed on the Vendor and the Vendor shall become liable to pay new or additional fee or charges or impositions (save and except any increase in the cost of building materials labour and transport charges) the payment of which shall be a condition precedent for continuing and completing the development of the Master Land or any part or parts thereof in accordance with the Layout Plan building plans and the specifitcation herein referred to and the due observance and performance by the Vendor of its obligations and liabilities hereunder, the Purchaser shall pay to the vendor a fair and justificable proportionate part of such new or additional fees, charges or impositions upon production to the Purchaser of the relevant receipts for the payment of the same by the vendor."

so in this statement, we, purchaser is compulsory to pay for all these charges imposed by the authorities?? hope for your advise, thanks in advance!

This post has been edited by eric84cool: Apr 12 2012, 12:27 PM

thx Dario...I read from an article stating that S&P for commercial property is tend to be advantage on seller side rather than protect buyer side. Do you have similar S&P which could share to compare or to differentiate? Thank for ur help very much!