agreement of sale of immovable property auction - Pam Golding ...

6Should the Purchaser be a company, close corporation or trust, the personmaking this offer on behalf of such Purchaser, by his signature to thisagreement, interposes and binds himself as surety for and co-principal debtorwith the Purchaser for the due and proper discharge of all the Purchaser'sobligations arising from this agreement, including damages, underrenunciation of the benefits of 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 of business on the signature date;15.1.2. the notice shall set out the name and address of 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 of all the terms and conditionsof this agreement of sale as if fully set out in suchwritten acknowledgement; and15.1.3.2. that it is bound by the provisions of this agreementof sale as the Purchaser.15.2. Should the Purchaser nominate a nominee in terms of this clause,then:-15.2.1. all reference to the Purchaser in terms of this agreement ofsale 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 of all the nominee'sobligations arising from this agreement, including damages,under renunciation of the benefits of division and excussion.15.3. Should the Purchaser fail to nominate as nominee in terms of thisclause, then it shall be bound to perform all its obligations asPurchaser in terms hereof.