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JKL Consultants
AD 041-3006942A
JKL & Associates
AD 041-3005054E /

OPTION TO PURCHASE (HUDC)

No. 2 Jurong East St 21 #04-23 IMM Building Singapore 609601. Tel: 666 55 003 Fax: 656 98 007 Website:

To:

Name:

NRIC No.:

Address:

Singapore

(hereinafter known as “the Purchaser”)

RE: PROPERTY KNOWN AS ______
______Singapore ______

(hereinafter known as “the Property”)

IN CONSIDERATION of the sum of Dollars ______($ ______) (hereinafter known as “the Option Money”) paid by you to me/us, the receipt of which I/We hereby acknowledge, I/We, ______

______(hereinafter known as “the Vendor”) hereby make the following offer which remains open for acceptance in the manner stated below.

The Vendor hereby offers to sell the Property upon the terms set out hereunder and upon your acceptance of this offer by signing that portion of this option marked “ACCEPTANCE COPY” and delivering the same duly signed to the Vendor’s solicitors, M/s. ______together with the sum of Dollars equivalent to five percent (5%) of the sale price (less the Option Money) on or before 4.00 p.m. on the ______day ______20___ (hereinafter known as “the Expiry date”) which shall be held by the Vendor’s solicitors as stakeholders pending completion.

TERMS OF SALE

  1. The sale is subject to “The Singapore Law Society’s Conditions of Sale, 1999” so far as the same are applicable to a sale by private treaty and are not varied by or inconsistent with the terms of sale hereinafter set out.
  1. The sale price of the Property is Singapore Dollars ______($ ) (hereinafter known as “the Purchase Price”).
  1. The Property is sold with vacant possession / subject to existing tenancy. ( Please delete where not applicable ).
  1. The Purchaser shall register with the Housing & Development Board (hereinafter known as “HDB”) by the ______day ______20______for HDB approval.

5.The sale and purchase of the Property shall be completed within ______( ______) weeks from the date of acceptance of this option or upon receipt of the HDB approval, whichever is later.

  1. The title shall be properly deduced free from encumbrances on completion.
  1. The Property is sold subject to the Purchaser’s solicitors receiving satisfactory replies to all requisitions sent by them to the various Government Departments; satisfactory drainage plan and/or road interpretation plan from the competent authorities; and satisfactory reply from the Mass Rapid Transit Corporation. If any of the aforesaid reply or replies or plans are unsatisfactory, then this agreement may be rescinded at the Purchaser’s option.

On rescission, the agreement shall become null and void and of no further effect whatsoever and the Vendor shall forthwith refund to the Purchaser all monies paid by the Purchaser to the Vendor but without any interest compensation or deductions whatsoever. Each party hereto shall bear their own solicitors’ costs in the matter and neither party shall have any claims or demands against the other party for costs damages or compensation or otherwise whatsoever in the matter.

PROVIDED ALWAYS that:-

i)any reply received before the completion date herein from the Property Tax, Environmental Health, Public Works and Sewerage Departments and Building Control Division shall not be deemed unsatisfactory unless the same discloses that the Property is affected by any notice which has not been complied with and which is incapable of being complied with by the Vendor or which the Vendor is unable or unwilling to comply with;

ii)any lines of Road Reserve for Category 5 road affecting the Property as indicated in the Road

interpretation Plan shall not be construed as unsatisfactory; and

iii)any reply not received by the completion date herein shall be deemed satisfactory.

  1. In the event that there is an acquisition or shall be notice of acquisition or notice of intended acquisition served by the Government or other competent authorities in respect of the Property or any part thereof before the date of completion of the sale herein, then the Purchaser shall be entitled to rescind this agreement and in such event the Vendor shall forthwith refund to the Purchaser all monies paid by the Purchaser to the Vendor but without any interest compensation or deductions whatsoever. Each party hereto shall bear their own solicitors’ costs in the matter and neither party shall have any claims or demands against the other party for costs, damages or compensation or otherwise whatsoever in the matter.
  1. The Purchaser shall purchase with full notice of all aspect of the actual state and condition of the Property and shall take the Property as it is.
  1. The Purchaser is entitled to inspect the Property before completion.
  1. This option shall expire on the Expiry Date and will become null and void if not exercised on or before the Expiry Date and the Option Money shall be forfeited by the Vendor.
  1. The Option Money paid herein shall be treated as part payment towards the 10% deposit Purchase Price which shall be paid on the exercising of this option as aforesaid.
  1. On the completion the Purchaser shall pay the balance of the Purchase Price to the Vendor’s solicitors at their office and the Vendor shall make and execute to the Purchaser a proper assurance of the Property in relation to the Vendor’s title such assurance to be prepared by and at the expense of the Purchaser.
  1. The Vendor hereby confirms that his solicitors have been appointed as his agents for the collection of the balance of the Purchase Price and any other monies payable to the Vendor. The Vendor acknowledges that payment to his solicitors or payment as directed by his solicitors shall constitute a full discharge of the payment obligations of the Purchaser to him.
  1. Notwithstanding the completion of the sale and purchase herein, the terms and conditions herein shall remain in full force and effect as between the Vendor and the Purchaser insofar as the same are not fulfilled and shall not merge in the assurance of the Property by the Vendor to the Purchaser on completion of the sale and purchase herein.
  1. The sale and purchase is subject to the approval of HDB. If HDB does not approve the sale and purchase of the Property, the Vendor shall forthwith refund to the Purchaser all monies paid by the Purchaser to the Vendor but without any interest compensation or deductions whatsoever and this agreement shall be null and void and of no further effect whatsoever. Each party hereto shall bear their own solicitors’ costs in the matter and neither party shall have any claims or demands against the other party for costs damage or compensation or otherwise whatsoever in the matter.
  1. The Vendor shall pay JKL Consultants (license No: AD041-3006942A)the agreed commission as stated in the Commission Agreement signed by Vendorand the Vendor’s solicitor shall accept this as the Vendor’s irrevocable authority to retain the commission from the sale proceeds and to pay the same direct to the Agency upon completion. Should any monies paid hereunder be forfeited to the Vendor, then fifty percent (50%) of the monies forfeited shall be paid to the Agency provided such amount does not exceed the commission.

IN WITNESS WHEREOF the parties hereto have hereunder set their hands the day and year first above written.

Dated this on the ______day of______20____

Witnessed By :Signature of Vendor (1)

______

Name:______Name:______

NRIC:______NRIC:______

Designation: ______

Signature of Vendor (2)

______

Name:______

NRIC:______

ACCEPTANCE COPY

I/We ______

______

as Purchaser hereby accept the above offer and agree to purchase the Property upon the terms of the sale abovementioned.

Our solicitors are Messrs. ______

Dated this on the ______day of ______20______

Witnessed By:Signature of Purchaser (1)

______

Name:______Name:______

______

NRIC:______NRIC:______

Signature of Purchaser (2)

______

Name:______

______

NRIC:______

1

* delete where applicable