25. Spec House on Builders Terms OR On sale of Unit Purchased Off-the-Plan
(a) The buyer acknowledges the Seller, although entitled to become the registered owner of the Property, is not registered owner as at the date of this Contract.
(b) The buyer agrees to accept at completion of the following: –
(i) a stamped duly executed Transfer in favour of the Seller capable of immediate registration free from encumbrancer (other than those set out in Item L. of the Items Schedule); and
(ii) a written undertaking from the Seller or the Seller’s Solicitor that the Seller with use its best endeavours to promptly answer and pay for all requisitions which issue from the Department of Lands with respect to such prior Transfer; and
(iii) the appropriate registration fees payable on the prior Transfer to the Department of Lands.
(c) The parties agree that Clause 7.3(i) of the Terms of Contract for Houses to the Department of Lands does not apply.