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Investment ecoworld duduk, i saw this in facebook

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meucer
post Jun 4 2021, 05:57 PM

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QUOTE(jerrylo @ Jun 4 2021, 03:32 PM)
Level 3 and 6

my unit level 6.. and lucky got parking level 1
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Thanks for the info. Sigh...my parking lot is lvl4
yensin
post Jun 4 2021, 06:13 PM

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for tenant stay in LvL 9 tower A ,where is the car park?
slee03
post Jun 4 2021, 08:11 PM

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QUOTE(ivanlio @ Jun 4 2021, 05:15 PM)
Hi, I got an email too. Notice of force majeure event. From what I could gather from google. It’s like they clause in which they can delay the project without any penalty. I’m no expert in this subject though.

Would really appreciate anyone here that could maybe explain to us the possible consequences from our end.

Thanks!
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To put things simple, if VP being delayed and it is within the duration of force majeure, developer reserved its rights as stipulated in SPA. We cannot held them responsible as this is out of their control. Even the supply of raw materials that may impact project delivery as a result of such incident included.

https://www.propertyguru.com.my/property-gu...-malaysia-25638
sam59
post Jun 6 2021, 02:20 AM

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For some reason, i could not find any clause about force majeure in the SPA..can someone check and confirm which clause?

And according to the link below, if there is no clause, developer is still obliged to deliver within 36 months subject to negotiation with purchaser. If they delay, is there any clause in the loan agreement that we are not obliged to settle the monthly interest fee?

https://mahwengkwai.com/wp-content/uploads/...s-15.4.2020.pdf

This post has been edited by sam59: Jun 6 2021, 10:25 AM
slee03
post Jun 6 2021, 04:29 PM

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QUOTE(sam59 @ Jun 6 2021, 02:20 AM)
For some reason, i could not find any clause about force majeure in the SPA..can someone check and confirm which clause?

And according to the link below, if there is no clause, developer is still obliged to deliver within 36 months subject to negotiation with purchaser. If they delay, is there any clause in the loan agreement that we are not obliged to settle the monthly interest fee?

https://mahwengkwai.com/wp-content/uploads/...s-15.4.2020.pdf
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May refer to Deed of Mutual Covenants, page 23, clause 16 😁
sam59
post Jun 6 2021, 04:46 PM

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QUOTE(slee03 @ Jun 6 2021, 04:29 PM)
May refer to Deed of Mutual Covenants, page 23, clause 16 😁
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Deed of mutual covenant DMC is agreement between developer and purchaser related to the use and maintenance of all the shared and common facilities under stratified property. Not related to the sales and purchase of the unit and obligation for developer to deliver VP. So force majuere under DMC is not applicable here.
slee03
post Jun 6 2021, 05:52 PM

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QUOTE(sam59 @ Jun 6 2021, 04:46 PM)
Deed of mutual covenant DMC is agreement between developer and purchaser related to the use and maintenance of all the shared and common facilities under stratified property. Not related to the sales and purchase of the unit and obligation for developer to deliver VP. So force majuere under DMC is not applicable here.
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Mmm... thought this DMC is an addition to what has been enforced through Strata Management Act (SMA) 2013.

Any legal experts out there who can help?
sam59
post Jun 6 2021, 06:08 PM

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QUOTE(slee03 @ Jun 6 2021, 05:52 PM)
Mmm... thought this DMC is an addition to what has been enforced through Strata Management Act (SMA) 2013.

Any legal experts out there who can help?
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DMC = house rules

Ok put aside DMC..you find anything about force majeure in SPA bro?

slee03
post Jun 6 2021, 06:52 PM

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QUOTE(sam59 @ Jun 6 2021, 06:08 PM)
DMC = house rules

Ok put aside DMC..you find anything about force majeure in SPA bro?
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Not seen any, even the closest wordings and/or description reserved.

Only can comment on SPA page 13, 31 (2) kinda bind purchaser to similar covenants.
sam59
post Jun 6 2021, 07:53 PM

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QUOTE(slee03 @ Jun 6 2021, 06:52 PM)
Not seen any, even the closest wordings and/or description reserved.

Only can comment on SPA page 13, 31 (2) kinda bind purchaser to similar covenants.
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That one i think bind to DMC with respect to management of the strata properties.

If no clause, then they are obliged to deliver within 36 months..else LD.

slee03
post Jun 6 2021, 10:00 PM

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QUOTE(sam59 @ Jun 6 2021, 07:53 PM)
That one i think bind to DMC with respect to management of the strata properties.

If no clause, then they are obliged to deliver within 36 months..else LD.
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Hahaha.. briefly scanned through again and did not find any, unless someone can help proof-read word by word. Wonder where is that one sentence statement in SPA, where developer reserved its rights for any untoward incident beyond control, just like insurance.

Not easy to get LAD though, as the estimated completion by main con is 30th June, 2023. Then, comes all the documentation, water and electricity before VP. SPA signing was in Oct 2020. Guess they stll have some buffer?
sam59
post Jun 7 2021, 01:57 AM

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QUOTE(slee03 @ Jun 6 2021, 10:00 PM)
Hahaha.. briefly scanned through again and did not find any, unless someone can help proof-read word by word. Wonder where is that one sentence statement in SPA, where developer reserved its rights for any untoward incident beyond control, just like insurance.

Not easy to get LAD though, as the estimated completion by main con is 30th June, 2023. Then, comes all the documentation, water and electricity before VP. SPA signing was in Oct 2020. Guess they stll have some buffer?
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As long as it is within 36 months from the 1st SPA signed i am OK..otherwise we shud fight for our rights.

GuanYinMaIsHere P
post Jun 7 2021, 10:41 PM

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Hi, also bought a unit, joining you guys.
Nemozai
post Jun 10 2021, 07:07 PM

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QUOTE(jeffboon97 @ May 31 2021, 03:13 PM)
Har so funny one, go up 10 floor take lift go down?  rclxub.gif  rclxub.gif
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I think driving up the car for 10 floors is pretty crazy, turn and turn around 😲
slee03
post Jun 11 2021, 10:22 PM

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QUOTE(Nemozai @ Jun 10 2021, 07:07 PM)
I think driving up the car for 10 floors is pretty crazy, turn and turn around 😲
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Hmm.. looking at the layout plan, it's similar to MRT station up and down. Luckily not round and round. SA said, design is like Empire Shopping Gallery.
sam59
post Jun 14 2021, 01:07 AM

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QUOTE(slee03 @ Jun 11 2021, 10:22 PM)
Hmm.. looking at the layout plan, it's similar to MRT station up and down.  Luckily not round and round. SA said, design is like Empire Shopping Gallery.
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You got which floor bro?
slee03
post Jun 14 2021, 08:13 PM

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QUOTE(sam59 @ Jun 14 2021, 01:07 AM)
You got which floor bro?
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Parking Level 4 πŸ˜‚
Unit Level 18
topix
post Jun 14 2021, 10:31 PM

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i wonder how parking spot/floor being assign? there are some with lower/middle floor got lower level parking.
jerrylo
post Jun 15 2021, 09:03 AM

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just maybe im booking early.. 7/6 (and submitted also loan cover)

last time i checked with SA ( signing SPA time sept/oct 2020).. they already assigned parking.. im requested to get lvl 6 parking
easy for me to access direct to my unit A-6
but cannot change..
roaraxes
post Jun 15 2021, 10:31 AM

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I think so, first come first serve.

My unit Level 10, parking level 2

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