Auction Item special conditions
SPECIAL AUCTION CONDITIONS
Marianne Estate, Cole Bay, 38/1985
1. This auction concerns a foreclosure which implies that Seller’s liability will not extend beyond liability resulting from article 7:19 paragraph 1 of the Civil Code, which article reads as follows:
“On an execution sale, the buyer may not claim that the property is subject to a charge or encumbrance, which should not have encumbered it, or that the property does not conform to the contract, unless the seller was aware of this.”
2. Said immovable property shall be for Buyer's risk as of the adjudication.
3. Said immovable property shall be delivered in the actual condition it is in at the moment of the delivery. If said immovable property is destroyed or damaged in whole or in part, or devaluates in any other way after the adjudication, this cannot be invoked against Seller, irrespective of the cause.
4. Within two (2) business days after the adjudication buyer shall deposit with the civil law notary:
a. an amount equaling the transfer tax due upon transfer;
b. the fee of the civil law notary;
c. the Land Registry fee and the cost of Land Registry investigation;
d. the cost of cancellation of the registrations of mortgages and attachments;
e. the costs of advertising, process server, posters, appraisal, auctioneer's fee, and rent of the auction room;
f. the cost of revenue stamps and disbursements;
g. the outstanding property charges, including property tax, if any, and (if applicable) ground rent.
5. Within six (6) weeks after the adjudication buyer shall deposit the purchase price with the civil law notary.
6. A bidder and Buyer are obligated to immediately and at first request of the civil law notary submit proof of their solvency by means of a letter of guarantee, for a total amount of the bid increased with the taxes and costs mentioned before.
7. The aforementioned deed of mortgage stipulates that renting out the property requires written permission of the Creditor. Creditor leaves it to Buyer to invoke the annulment of any rental agreements concerning the property, if necessary.
The Buyer shall, at Buyer’s own risk and expense, procure the free possession and enjoyment of the purchased property.
Seller does not vouch for Buyer's power to vacate.
8. The Buyer (highest bidder) is under the obligation to comply with the conditions, stated in preceding title deeds which in as far as they still may have any effect, are deemed together with the penalties mentioned thereby to be imposed by the Seller (Creditor) to the Buyer (highest bidder) and to be accepted by the latter, to be stipulated and accepted on behalf of those beneficiaries as and in the manner as mentioned in these conditions. Said conditions and penalties are, in so far as required, deemed to be incorporated literally in this deed and to form an integral part thereof.
In connection to known easements and other specific obligations, reference is made to the aforementioned deed of transfer of ownership in which Mortgagor acquired said immovable property, in which is stated:
10. In connection to known easements, qualitative obligations and other specific obligations, reference is made to a deed of transfer dated December twenty-third, nineteenhundred and eighty-six (C-76-5) and aforementioned deed of March sixth, two thousand and three (C-184-4), in which is stated:
“8. The appearers, considering that the premises to be erected on the sold property shall be destinated for residential purposes only and consequently shall be used and maintained pursuant to said destination, declared furthermore that the following restrictive covenants are applicable on this sale and purchase with transfer:
9. a. The premises shall be used for the construction of a one or two family dwelling house.
b. The premises shall be used for residential purposes only. No subdividing of the premises shall be allowed without prior approval of Seller.
c. No commercial enterprises shall be used on the premises, except with prior approval of Seller.
d. No animals, livestock or poultry of any kind shall be raised, bred or kept on the premises, except pet dogs, cats or other household pets, which may be raised, provided that they are not kept, bred or maintained for any commercial purpose.
e. The main house, included adjoining garage, shall not be constructed at less than twelve feet (12ft) from the boundary lines with the neighbours of the development, six feet (6ft) from the roads and three feet (3ft) from other limits.
Location of buildings and septic tanks shall be submitted to approval of the Seller before beginning of construction. The maximum authorized height for the building, including the roof, shall be seven meters (7M).
f. Colours of house facing shall be approved by Seller.
g. Partition fences between lots shall not be other than shrubbery or professionally made cyclone pichet or rail and not to be higher than two feet (2ft), all this except with prior approval of Seller. Barbed wire fences are prohibited.
h. No additional building shall be erected upon a lot until the plans, designs and locations therefore shall have been submitted to and approved by Seller, in writing; such approval shall not be unreasonably withheld.
i. No structure of a temporary character like trailer, basement, tent, shack, garage, barn or other outbuilding shall be used or constructed on the premises at any time, either temporarily or permanently. Storing of wrecked cars shall be prohibited on all lots.
j. No soil, rock or fill shall be removed from any portion of the subdivision of which the herein mentioned premises are part, without written consent of Seller.
k. No septic tank, cesspool or other sewage disposal unit shall be placed upon the premises, unless it is of sufficient size and capacity for the purpose it was constructed for and such septic tank, cesspool or sewage disposal unit shall be maintained by the owner so that it does not overflow upon the surface of the demised property or adjacent property or roadways or into the sea.
l. The premises shall not be used or maintained as dumping ground for rubbish. Trash, garbage and other waste shall not be kept except in sanitary containers.
m. No washlines, drying area, garbage and refuse containers shall e kept but behind dwelling rear line. Refuse piles and unsightly objects shall not be allowed to be placed or suffered to remain on the premises.
n. No unlawful or offensive use or any use that might constitute a nuisance shall be made or permitted upon the premises or any part thereof.
o. No sign of any kind shall be displayed to the public view except a professional sign of not more than two square feet in area or a sign of not more than five square feet in area advertising the property for sale or for rent.
The approval as mentioned before shall be substituted by the approval of the foundation or association as mentioned hereinafter upon the transfer of the roads and swimming pool or at such earlier date as seller and the foundation or association will agree.
The foregoing restrictive covenants sub a. up to and including o. are furthermore stipulated in behalf of Seller or, upon the transfer as mentioned before in behalf of the foundation or association.
The foregoing restrictive covenants will also be created as easements, burdening the herewith transferred property, in article 13 of this deed.
10. Seller shall construct a swimming pool and concrete roads as indicated on the subdivision plans and specifications.
Seller shall furthermore transfer in ownership the remaining land of the SURNADA development, as festinated to the roads and swimming pool, as indicated in the drawings known by the parties, for the consideration of ONE UNITED STATES DOLLARS (US$1.00), to a foundation or association, whichever will be most appropriate, to be established in behalf of all owners of lots of the SURNADA Development, and which will take care of the general interest of the owners, such transfer to be effected at such time as Seller shall determine, but not before the roads and swimming pool, together with the electricity and water installations and piping are considered ready by the foundation or association for such transfer.
11. Buyer is obliged and undertakes to participate in the aforementioned foundation and to obtain membership of the aforementioned association and to pay his share in the expenses to be made by them form the date of the establishing of said foundation or association.
12. In the event of a transfer in whole or in part of the herewith transferred property, Buyer is furthermore obligated and hereby undertakes to impose the obligations contained in section 9, in section 11 as far as the foundation concerns and if such may have legal validity also as far as the association concerns, and in this section 12 upon his successors in title to be stipulated and accepted in behalf of Seller or the foundation or association as mentioned before, which imposement shall be deemed as done by way of literal reciting of this sections 9, 11 and this section 12 in the concerned deed of transfer of the herewith transferred property.
The substitution of the indications of Seller and Buyer in the concerning deeds by the indications of the transferring and acquiring parties being presumed.
In case of failure to comply with the aforementioned imposement, Buyer shall pay a fine instantly claimable of ONE HUNDRED THOUSAND UNITED STATES DOLLARS (US$100,000.00) to the aforementioned foundation or association, whichever will be applicable, which amount shall be increased or decreased in any period of five years in proportion to the increase or decrease in the United States consumer price index over the previous five years starting from the basic year nineteen hundred and eighty-two (1982).
The appearers declared herewith that Seller, by these presents acting as verbal proxy of the aforementioned foundation or association hereby agrees to accept the foregoing stipulations with regard to the sections 9, 11 and this section 12, for and on behalf of said foundation or association.
13. The appearers declared furthermore that the restrictive covenants as mentioned in section 9 are to the extent feasible herewith created as easements burdening the herewith transferred property and in favour of the remaining land of Seller, described in Certificate of Admeasurement number 159 of nineteen hundred and seventy-three (159/1973), less the herewith transferred property and in favour of the parcels of land forming part of the land described in Certificate of Admeasurement number 159/1973, which have been already transferred to third parties for which third parties the appearers acting as their verbal proxy declared to accept the creating of the easement contained in this article in favour of their properties.
14. The appearers, acting as mentioned, declared furthermore herewith to create the easement consisting of the suffering of the installation and folding, maintenance and repair of everything pertaining to any and all public utility services, including without limitation, electricity, water, telephone and sewerage, to be made within the framework of and for the public benefit of the SURNADA subdivision, like piles, lines, cables, pipes, insulators, rosettes, mains and drains.
The easement shall be burdening and in favour of the same parcels of land as mentioned before in article 13. The last part of article 13 commencing with “for which third parties” is also applicable here.
15. The appearers finally declared to create herewith the easement granting right of way in favour of the herewith transferred property, as dominant property and burdening the remaining land of Seller, originally described in Certificate of Admeasurement 159/1973 for purpose of ingress and egress to and from the Well Road and the herewith transferred property, over the projected roads of the SURNADA subdivision.
The owner of the roads is allowed to build and to equip the roads in such a way as to restrict the speed limit or to embellish their aspect on condition that the easement shall not be unreasonably restricted as a result.
The use shall be for and in accordance with their purpose and shall take place without any hindrance to other users of the aforementioned project.
16. If the construction of the existing dwelling house, built by Seller on the herewith transferred parcel of land is not in compliance with all restrictions as mentioned in article 9, Seller is herewith considered to have approved any deviations.”
