agreement of sale of immovable property auction - Pam Golding ...
agreement of sale of immovable property auction - Pam Golding ...
agreement of sale of immovable property auction - Pam Golding ...
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6Should the Purchaser be a company, close corporation or trust, the personmaking this <strong>of</strong>fer on behalf <strong>of</strong> such Purchaser, by his signature to this<strong>agreement</strong>, interposes and binds himself as surety for and co-principal debtorwith the Purchaser for the due and proper discharge <strong>of</strong> all the Purchaser'sobligations arising from this <strong>agreement</strong>, including damages, underrenunciation <strong>of</strong> the benefits <strong>of</strong> division and excussion.15. Nomination15.1. The Purchaser shall be entitled, by notice in writing to that effectaddressed to the Seller, to nominate a nominee in its place asPurchaser, upon the following terms and conditions:15.1.1. the aforesaid notice shall be handed to the Seller by not laterthan close <strong>of</strong> business on the signature date;15.1.2. the notice shall set out the name and address <strong>of</strong> the nomineeso nominated as Purchaser;15.1.3. the notice shall be accompanied by the nominee's writtenacknowledgement:-15.1.3.1. that it is fully aware <strong>of</strong> all the terms and conditions<strong>of</strong> this <strong>agreement</strong> <strong>of</strong> <strong>sale</strong> as if fully set out in suchwritten acknowledgement; and15.1.3.2. that it is bound by the provisions <strong>of</strong> this <strong>agreement</strong><strong>of</strong> <strong>sale</strong> as the Purchaser.15.2. Should the Purchaser nominate a nominee in terms <strong>of</strong> this clause,then:-15.2.1. all reference to the Purchaser in terms <strong>of</strong> this <strong>agreement</strong> <strong>of</strong><strong>sale</strong> shall be deemed to be a reference to its nominee; and15.2.2. the Purchaser by its signature hereto, hereby interposes andbinds itself as surety or and co-principal debtor with thenominee for the due and proper discharge <strong>of</strong> all the nominee'sobligations arising from this <strong>agreement</strong>, including damages,under renunciation <strong>of</strong> the benefits <strong>of</strong> division and excussion.15.3. Should the Purchaser fail to nominate as nominee in terms <strong>of</strong> thisclause, then it shall be bound to perform all its obligations asPurchaser in terms here<strong>of</strong>.