o_1937aahn31ruc1bt9ajr12u811a.pdf

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2. RESERVATION
2.1 The Developer hereby agrees to forthwith implement:
(a)
(b)
(c)
the Reservation;
the Option;
the Project
and any other activities contemplated by this Agreement on and from the
Commencement Date.
2.2 In consideration for the Reservation, the Option and the covenants and
obligations of the Developer pursuant to this Agreement, the Lot Holder
agrees to do the following:
(a)
(b)
pay the Reservation Fee;
do all things and sign all documents as may be reasonably required
of it by the Developer to carry out the Project.
2.3 In consideration for the Lot Holder paying the Reservation Fee and agreeing
to the covenants and obligations contained in this Agreement, the
Developer agrees to do the following:
(a)
use its best endeavours to develop the Property in
accordance with the Concept Plan; (b)incur the Project
Expenses associated with the Project;
(c)
(d)
carry out any other act, service or thing reasonably required to
carry out the Project; and
grant the Option to purchase the Property to the Lot Holder.
2.4 The Developer shall use its best endeavours and do all acts and execute all
such documentation to:
(a) obtain all necessary Planning and Development Approvals as
soon as is practicable following the Commencement Date.
2.5 The parties acknowledge and agree that if any Development Approvals are
refused, or granted on conditions not acceptable to the Developer (and in
this regard the Developer agrees not to unreasonably maintain that the
Development Approvals are granted on terms and conditions not
acceptable to it) the Developer may, in its absolute discretion:
(a)
(b)
make application to the Victorian Civil and Administrative Tribunal
(Planning List of the Administrative Division) against such refusal or
unacceptable conditions and use its best endeavours in pursuing
such application;
make such variations to the Concept Plan or Plan of Subdivision or
any other relevant documentation so as to obtain the necessary
Planning and Development Approvals;