CONDITIONS OF SALE : ONLINE AUCTION

SUBJECT TO CONFIRMATION

                                       LEO AUCTIONEERS (PTY) LTD

Address :   42 Tom Jenkins Drive                              TEL:  (076) 422 5530 Kyle

Rietondale                      E-MAIL :               piet@leoprops.com  

PRETORIA                                                   Cell : 082 458 4812 Piet

(hereinafter referred to as the AUCTIONEER)

only acting as agents on behalf of NONKULULEKO LAWRENCIA THWALA and GERDA MARYKE VAN TONDER in their  capacity as Liquidators of LEE MAR PROPERTIES PTY LTD Master’s Reference T001183/2024,

Address : 162 Maria Bronkhorst rd Ashlea Gardens, Pretoria

 e-mail :  gvtonder@lcmpty.com 

(hereinafter referred to as the SELLER)

offer for sale by Public Auction :

            CERTAIN:        Erf 508 in the township of Homes Haven Extension 15, registration Division Caledon IQ , Gauteng

            MEASURING:  703 square meter ;

            SITUATE AT:                                       508 Laudate Manor Estate , Krugersdorp Gauteng

                                       Municipality, Mogale City 

            HELD :             In terms of Title Deed T22375/2023 and subject to all the

                                      conditions contained therein, on the following terms:

(hereinafter referred to as the PROPERTY)

METHOD OF AUCTION:

                SUBJECT TO CONFIRMATION:

1.1          The PROPERTY is sold by the rise of bid on the advertised online platform to the highest acceptable bidder (hereinafter referred to as the PURCHASER) subject to confirmation or refusal thereof by the SELLER as described in clauses 1.2 and 2 hereof.

1.2          The SELLER reserves the right of declining to sell to the highest bidder or any bidder, on or before expiry of the period described in clause 2.1 hereof, with the provision that the PURCHASER will be obliged to sign these Conditions of Sale immediately on date of submission of his/her highest bid on the online platform.

1.3          Online bidding will commence on the 30^th July 2025 10h00 and close on the 31^st July 2025 at 14h00 , where after all bids will be scrutinised and presented to the Seller for acceptance.

1.4          All bidders will register for the online auction by paying the prescribed registration fee amounting to R 5 000-00 ( Five Thousand Rand ) to LEO AUCTIONEERS TRUST ACCOUNT , ABSA BANK

               ACCOUNT NUMBER    100 976 2295 [ INTERNET BANK CODE = 632005]

1.5          If the PURCHASER is a Company/ Trust or Close Corporation, the signatory acting on behalf of the Company , Trust or Close Corporation,  will sign the Deed of Suretyship annexed hereto,

1.6          In the event of the highest bid aforesaid not being accepted by the SELLER, or should any necessary consent as mentioned in clause 11 not be obtained, the SELLER, shall be obliged to repay the PURCHASER all amounts which he/she has paid by virtue of this Deed and the PURCHASER shall not be bound by the Conditions of Sale and in which event the parties shall have no claim against each other, save as stipulated herein.

2.         CONFIRMATION AND BIDDING:

2.1          The PURCHASER is held bound by his bid until 16h00 on the 7^th August 2025, (which period hereafter is referred to as the CONFIRMATION PERIOD).

2.2          All bids made by the PURCHASER on the online platform will be regarded as a bid made in terms of these conditions of sale and the bidder will bind himself/ herself to these conditions of sale as PURCHASER , pending acceptance hereof.

3.         PURCHASE PRICE:

              The purchase price is payable as follows:

3.1          DEPOSIT:

7.5% deposit plus 4.6% buyers commission, described in clause 6.1 below, calculated on the PURCHASE PRICE to LEO AUCTIONEERS TRUST ACCOUNT by way of  electronic Bank Transfer ( EFT ), on signature hereof and the balance in cash against registration of transfer, to the SELLER, care of  LCM TRUSTEES, 162 MARIA BRONKHORST STREET ASHLEA GARDENS, PRETORIA.

3.2          BALANCE PURCHASE PRICE:

The PURCHASER shall, within 30 (THIRTY) days after confirmation and acceptance hereof furnish a bank guarantee, approved by the SELLER, to the Transferring Attorney appointed by the SELLER, for the full outstanding purchase price, which guarantee shall be made payable on registration of transfer of the PROPERTY in the name of the PURCHASER.

4.         CAPACITY OF PARTIES:

  In the event of more than one PURCHASER being party to this agreement, the PURCHASERS remain personally, jointly and severally responsible for the prompt and due performance of all their obligations in terms hereof.

5.         TRANSFER AND COSTS:

5.1          The PURCHASER shall pay transfer fees or Value Added Tax , calculated on the fees  , pertaining to the transfer of the PROPERTY, as well as all other costs which may be necessary to have the PROPERTY registered in the PURCHASER’S name.  Aforesaid costs is payable on request to the SELLER'S attorneys.

5.2          The PURCHASER is liable for payment of all municipal taxes and levies [ if any ], levied upon the PROPERTY by the Local Authority from date of possession and the SELLER is liable for payment up and until date of possession.

5.3       If necessary, the amount required to obtain the clearance certificate/s as     described in this clause 2, will be advanced by the PURCHASER to the SELLER, which  amount so advanced by the PURCHASER to the SELLER , will be deducted from the purchase price as part payment of the purchase price.

5.4           If necessary, the PURCHASER shall obtain at the expense of the PURCHASER, for purposes of registration of transfer of the PROPERTY into the name of the PURCHASER, a certificate of compliance as stipulated in the Electrical Installation Regulations R242 of March 2009 promulgated in terms of the Occupational Health and Safety Act No 85 of 1993 and in the event of any repairs to be done, as stipulated on the certificate to be obtained, the PURCHASER shall pay for such repairs.

6.         AUCTIONEER'S COMMISSION AND COSTS:

               6.1              AUCTIONEER’S commission calculated at 4% plus VAT, is payable by the PURCHASER to the AUCTIONEER, which commission will be paid to the AUCTIONEER together with the deposit described in clause 3.1 above and which commission will be paid over and above the Purchase Price and does not form part of the Purchase Price and will be due and payable to the Auctioneer on date of acceptance of this offer.

                 6.2             AUCTIONEERS costs, plus commission at 4% plus VAT, as agreed between  SELLER and AUCTIONEER , is payable by the SELLER to the  AUCTIONEER, which agreed upon cost and commission will be deducted from the deposit as described in paragraph 3.1 hereof, which commission and costs will be due and payable to the Auctioneer on date of acceptance of this offer and any shortfall ( if any) will be paid on date of registration of transfer.

           6.3         The expenses referred to in clause 6.2 will be appropriately                                invoiced by the AUCTIONEER to the SELLER.

7.           TRANSFERRING ATTORNEY:

Upon compliance of the provisions of this Deed, transfer of this PROPERTY shall be effected to the PURCHASER, by the SELLER'S Attorney.

8.             BREACH:

In the event of the PURCHASER failing to comply promptly with all the conditions of this agreement, the SELLER shall be entitled without any notice to cancel this agreement and to repossess the PROPERTY,  in which the event the PURCHASER will forfeit the deposit and all other amounts paid by himself, as roukoop and or a genuine pre-estimate of damages. The SELLER will thereafter be entitled to re-sell the PROPERTY, in which event the damages suffered by the SELLER as a result of the PURCHASER’S breach shall be borne by the PURCHASER.  The PURCHASER shall not be entitled to any profit arising out of the selling of the PROPERTY.

9.         VOETSTOOTS AND INTRODUCTION:

               9.1              The PROPERTY is sold voetstoots as it stands, neither the SELLER nor the AUCTIONEER being liable in any respect for any damages as a result of any deficiency in respect of the extent of the PROPERTY herein mentioned being found in any subsequent survey. Neither the SELLER, nor the AUCTIONEER, shall be liable for any defects therein, whether patent or latent.  The PROPERTY is sold subject to all the conditions and servitudes mentioned or referred to in the current and original title deeds of the PROPERTY as well as the existing zoning rights. Neither the SELLER, nor the AUCTIONEER, shall be obliged to indicate the existing boundaries or beacons of the PROPERTY.

               9.2             The PURCHASER hereby acknowledges that he has not been influenced into signing this agreement by any express or implied information, statement or representation made by or on behalf of the SELLER, but has signed same out of his own free will.

10.       POSSESSION, OCCUPATION AND RISK:

              10.1             Occupation of the PROPERTY shall be given to the PURCHASER by the SELLER on date of registration of transfer of the PROPERTY into the name of the PURCHASER ,  where after the risk of profit or loss shall pass to the PURCHASER, subject to any legal or illegal occupation of the PROPERTY by any occupants.

 10.2           if agreed between the SELLER and the PURCHASER that occupation be given by the SELLER to the PURCHASER,  before date of registration of transfer, then in that event occupational rent will be paid by the PURCHASER to the SELLER,   in terms of an agreed amount between PURCHASER and SELLER, which agreement will be in writing.

11.       MASTER’S CONSENT:

Should the consent of the Master of the Supreme Court or any Government, Provincial, Local or any other Authority be required before transfer of the PROPERTY or any portion thereof can be registered in the name of the PURCHASER, this agreement is subject to the suspensive condition that upon failing of which the sale shall be regarded as cancelled, where after the parties shall have no further obligations or claims as a result thereof, save as mentioned herein.

12.     INDULGENCES :

          No indulgence or relaxation which the SELLER may allow the PURCHASER in respect of the carrying out of the PURCHASER'S obligations under this agreement shall prejudice the SELLER’S rights as stipulated herein or be regarded as a waiver of any of the SELLER'S rights in any manner whatsoever.

14.     ALTERATIONS AND CONSTRUCTION :

           In the event of occupation being given to the  PURCHASER  prior to registration will not undertake and/or commence any service installation, excavation and/or construction of any nature on the PROPERTY, before the date that the PURCHASER has delivered the guarantees as described in clause 3 above.

SIGNATURE BY HIGHEST BIDDER:

After the reading of the abovementioned Conditions of Sale in public, the aforesaid PROPERTIES were offered for sale by public auction on 21^st June 2024 and sold by the rise of bid, subject to acceptance and confirmation :

 to:……………………………………………………………………………………………..

ID………………………………………………in his/ her capacity as ……………………,

representing the buyer……………………………………………………………………..

                                  [ Company / Trust Close Corporation / Partnership ]

Address: …………….....................................................................................................

  PURCHASE PRICE ,  = R________________________________

[ _______________________________________________________________]

AS WITNESSES :

1.__________________________          ________________________

                                                            AUCTIONEER

2.__________________________          _________________________                                           

                                                            PURCHASER

SIGNATURE BY SELLER:

ACCEPTED by myself this               day of                                 2025.

AS WITNESSES :

1.__________________________          ________________________

                                                            SELLER……………………..

2.__________________________          _________________________                                           

                                                            SELLER………………………

DEED OF SURETYSHIP

I/WE, the undersigned, do hereby bind myself/ourselves jointly and severally as surety/ies in solidum and co-principal debtor/s with the PURCHASER and the bidder who has signed this agreement of sale for the due performance by the PURCHASER and such bidder of all his obligations in terms of this agreement of sale, and I/we do hereby specifically waive all benefits of the legal exceptions known as non numeratae pecuniae, non causa debiti, errori calculi, de duobus vel pluribus reis debendi en beneficia ordini seu excussionis et divisionis, i.e. the benefit of division and execusion, and acknowledge myself/ourselves to be fully acquainted with the meaning and effect thereof, which obligation will continue until the PURCHASER'S obligations in terms of this Agreement has terminated.

My/Our liability in terms hereof shall not be effected, prejudiced or vitiated by any concession or accommodation which may be made by the SELLER or his successor in title to the said PURCHASER or bidder, and I/we are not entitled to receive any prior notice in this regard.

SIGNED at                                                 on this day of                             20____

Signature of surety/ies: ___________________________________                                                                                

Full names and addresses:………………………………………………………………….

WITNESSES :

1.  _____________________       

2.  _____________________