The Cascade CoHousing Legal Agreement

(An agreement for the development of a cohouse in )

 

 

This Indenture made the eighteenth day of September 1994 between
all of us

 

 

Recitals

Whereas the parties hereto have expressed a common intention each to create individual accommodation and private areas and a common house subject to specific criteria.

 

And Whereas the parties hereto have expressed a desire to engender a sense of community through the design of the development and the regular sharing of meals in the common house.

 

And Whereas the parties hereto have expressed a common intention to build energy efficient houses and to consider the environmental impact of all aspects of building design and construction.

 

And Whereas the parties hereto have agreed the basis on which land will be purchased to give effect to their intention.

 

And Whereas each of the parties desires some control over the others for the purposes of giving effect to their mutual intentions.

 

And Whereas the parties acknowledge the likelihood that the equities of each of them in any land may be unequal.

 

And Whereas the parties acknowledge that further agreements may be required to supplement add to and clarify the agreements contained herein.

 

And Whereas the parties generally wish to formalise the basis on which existing parties have entered into this agreement and the basis on which future incoming parties shall be involved.

 

And Whereas planning approval has been granted and some buildings have been constructed and it is necessary to define the ownership of the buildings that have been and are to be constructed.

 


Witnesseth as follows:

 

 

1 Interpretation

A Words in the plural shall where applicable include the singular and vice versa.

 

B Words implying male gender shall where applicable include the female gender and vice versa.

 

C The word person shall include corporation and vice versa.

 

D "Cascade CoHousing" refers to the parties to this agreement jointly.

 

E "Cohouse" wherever appearing in this document describes a type of housing development where dwellings are clustered near a common house that contains shared facilities including a kitchen and a dining room that is large enough to seat all residents and for the purpose of this document must unless some restriction is applied by the Hobart City Council or other government authority or unless unanimous agreement is reached between all parties consist of at least 10 dwellings in addition to the common house.

 

F "Common costs" refers to those costs of the Cohousing development which apply to the commonly owned part of the development, including the cost of the establishment and maintenance of a group to carry out the development and including costs which are for works that it is more efficient to carry out as a group than as individuals and which are unanimously agreed by Cascade CoHousing to be common costs. Some are more particularly but not exclusively defined in Clause 7 herein.

 

G "Common costs share" refers to that proportion of the common costs of the development which are allocated to the owner of a particular private dwelling and which are payable to Cascade CoHousing by the party or parties who have undertaken to finance and construct that private dwelling and is further defined in Clause 8 herein.

 

H 'The development' or 'the Cohousing development' refer to the [address deleted] adjacent land that may be purchased by Cascade CoHousing together with any works which may have been carried out on the land prior to the issue of stratum titles for individual dwellings.

 

I "Equity" refers to the value net of any outstanding loans or obligations of a party's share in the Cohousing development. The method for calculation of equity is detailed in Clause 10 herein.

 

J "Nominal common costs share" refers to a figure calculated by inflating a party's common costs share by the Consumer Price Index for Hobart at intervals of three months and as adjusted according to Clause 13 herein in the case of a party defaulting on the payment of loan instalments. It is used as defined herein for determining the equity of a party in the Cohousing development provided that nothing shall prohibit the parties from mutually agreeing upon alternative equities and re-adjustment thereof by unanimous agreement.

 

K "Private cost" refers to any cost that is not defined herein as a common cost.

 

L "Private dwelling" refers to a house or stratum unit to be financed and constructed by a party or parties.

 

M "Private site" designates a location on the land at which a private dwelling may be built.

N "Share" refers to that part of the Cohousing development that is owned by a particular party and is made up of an indivisible part of the common property of Cascade CoHousing proportional to the party's nominal common costs share together with any private dwelling or partially constructed private dwelling on the party's private site.

 

O "Unit entitlement" in this agreement shall have the same meaning as unit entitlement in The Conveyancing and Law of Property Act 1884.

 

P "Re-allocation date" refers to any date on which the common costs of the development are re-allocated as detailed in Clauses 8 herein.

 

Q "House size" refers to the sum (rounded to the nearest integer) of the area, in square meters, of each floor of a private dwelling, (where each area is calculated from the external dimensions of all spaces over 1.6 meters in height that are roofed and walled on three or more sides).

 

R "Date of joining" refers to the date on which a party first signs a Cascade CoHousing legal agreement.

 

2 Period of agreement

A The parties agree that this agreement supersedes and replaces the agreement between [Names deleted] dated the twentieth day of July 1994 and same is hereby revoked.

 

B The parties agree that this agreement shall be binding until the completion of the Cohousing Development as defined in Clause 14 herein or until otherwise varied or revoked by the unanimous agreement of the parties.

 

3 Objective

The parties agree to work together for the purpose of the development and construction of a Cohouse at Saunders Crescent, South Hobart.

 

4 General

A The parties agree that they may collectively be known as "Cascade CoHousing" and may form a body corporate in that name or may register a business under that name or may form such other entity as the parties may agree from time to time to better advance their intentions.

 

B The parties agree to finance individually or jointly with some other party to this agreement the construction of a private dwelling within the Cohouse subject to such requirements and restrictions as may be imposed in the manner detailed herein and as may be agreed by the parties from time to time.

 

C The parties agree that it is neither the purpose nor intention of Cascade CoHousing to construct the Cohouse or sell private dwellings for the purposes of obtaining any capital or financial gain.

 

D The parties agree that the dates listed in Schedule One are the parties' dates of joining Cascade CoHousing.

 

E The parties agree that each of them shall prior to signing this agreement provided evidence to the others that they have a valid will.

 

F The parties agree that if a party travels overseas or is otherwise absent from Hobart and likely to be difficult to contact by mail then said party shall ensure that there is somebody in Hobart who has his/her power of attorney for the purpose of signing any and all documents required for the transfer of title to land should Cascade CoHousing need to admit new members.

5 Title to Land

A The parties agree that the title deeds to all land purchased by Cascade CoHousing shall be held in the names of all parties hereto as tenants in common in the shares listed in Schedule 2 herein.

 

B Subject to the provisions of Clause 6-C hereof the parties agree that the name of any additional person joining Cascade CoHousing shall be added to the land titles after the receipt of that person's common costs share and after that person enters into a form of Agreement in the same terms as herein contained.

 

6 Decision Making and Meetings

A The parties agree that Cascade CoHousing shall have the authority to make all decisions regarding the design of the entire Cohouse except for the internal design of private dwellings and may define a set of architectural criteria which all private dwellings to be built within the Cohouse must meet.

 

B The parties agree that Cascade CoHousing shall have the authority to make all decisions regarding the construction of the Cohouse except those decisions pertaining to the construction of private dwellings where the design of such private dwellings is acceptable to Cascade CoHousing pursuant to Clause 6-A herein.

 

C The parties agree that there must be agreement amongst them before any additional person can be allowed to join Cascade CoHousing.

 

D The parties agree that:

(i) Any decision not explicitly stated as requiring unanimous agreement shall be achieved by consensus whereby all parties to this document (or their proxies) are in agreement on an issue or where those not in agreement agree not to maintain an objection.

 

(ii) If consensus cannot be reached pursuant to Clause 6-D-(i) herein at the meeting where the issue is raised then the issue shall be referred to another meeting which shall be held not more than one week later when if consensus is still not possible the issue shall be put in the form of a resolution and be decided by a majority vote of not less than seventy five percent of the voting rights.

 

E The parties agree that in the event that consensus is not reached they shall have voting rights of unequal weight as detailed in Schedule One of this document.

 

F The parties agree that they may nominate in writing a person to act as proxy at any meeting of Cascade CoHousing.

 

G The parties agree that where a vote is required all parties or their proxies must be present at the meeting at which the vote is taken.

 

H Notwithstanding the contents of Clause 6-G the parties agree that:

 

(i) Where a party fails to attend a meeting at which a vote is to be taken within one hour of the allotted time that the meeting shall be suspended until the next possible date at which those present can attend.

 

(ii) The absent party shall be given written notice of the new time and at that new time the vote shall be taken and decided by a majority of not less that 75% of the voting rights of those parties then in attendance.

 

I The parties agree that a meeting can be called by any party upon giving to all other parties at least one weeks written notice of the time and place of the said meeting and detailing the matters to be raised.

 

J The parties agree that a facilitator (chairperson) for each meeting shall be chosen from amongst those attending the meeting by consensus as detailed in Clause 6-D.

 

K The parties agree that a record shall be kept by an elected party in which all decisions shall be recorded and full minutes of the meetings kept.

 

L The parties agree that in the event that there is a dispute which cannot be resolved using the mechanisms detailed herein the parties shall request the president of the Law Society of Tasmania or his/her nominee to appoint a mediator to help the group resolve the dispute and if mediation fails then the parties shall appoint the president of the Law Society of Tasmania or his/her nominee to act as an arbitrator.

 


7 Common Costs

A The parties agree that the common costs of the Cohousing development shall include:

(i) Preparation of legal agreements and registration of any corporate body or other entity as may be agreed from time to time.

(ii) Purchase price of land in Saunders Crescent, South Hobart.

(iii) Stamp duty on purchase of land and other disbursements.

(iv) Legal costs of land purchase.

(v) Architect's, draftperson's and consultant's fees necessary to obtain planning approval from the Hobart City Council (HCC) and approval from any other authority.

(vi) Servicing close to each private dwelling site (sewage, storm water, water,and power).

(vii) Cost of common house (community centre).

(viii) Landscaping of communal spaces to minimum standard required by HCC.

(ix) Construction of access ways, car-parks and footpaths required by HCC.

(x) All costs associated with the issue of a stratum title to a private dwelling Provided always and Excepting that this shall not be payable as a common cost if stratum titles have been issued in relation to any other private dwelling or dwellings on two separate prior occasions.

(xi) Any other costs which may be agreed from time to time to be common costs.

 

8 Common Costs Share

A The parties agree that the common costs share to be paid as at 15 April 1991 to secure a private site shall be that amount listed in Schedule 3 herein corresponding to the party's proposed house size (as defined in Clause 1-Q herein).

 

B The parties agree that the common costs share to be paid by a party on his/her date of joining Cascade CoHousing shall be equal to that amount listed in Schedule 3 herein corresponding to the party's proposed house size increased by the same percentage as the percentage increase in the CPI for Hobart between 15 April 1991 and the date of payment, except where otherwise provided herein.

 

C The parties agree that as at his/her date of joining a party's nominal common costs share shall be equal to the party's common costs share and agree that at three monthly intervals there after the party's nominal common costs share shall if the Consumer Price Index (CPI) for Hobart has risen be increased by the same percentage as the percentage increase in the CPI for Hobart.

 

D The parties agree that where two or more parties seek to jointly build the one private dwelling that those parties shall be jointly liable for only one common costs share.

 

E The parties agree that upon signing this agreement they will either:

(i) pay to Cascade CoHousing their common costs share in cash or

 

(ii) pay to Cascade CoHousing such lesser amount as may be acceptable to Cascade CoHousing and enter into agreements with Cascade CoHousing and/or the Commonwealth Bank to borrow the balance required to obtain an amount equal to their common costs share or

(iii) if there is the unanimous agreement of the other parties pay to Cascade CoHousing an amount less than their common costs share and agree to pay to Cascade CoHousing on an agreed date a further amount such that in total the two amounts paid equal the party's nominal common costs share as at said agreed date.

 

F The parties agree that where a party has agreed to pay to Cascade CoHousing his/her common costs share pursuant to Clause 8-E-(ii) or Clause 8-E-(iii) and the said party fails to pay the balance of his/her common costs share on the agreed date or fails to repay a loan on the agreed date as the case may be then the amount outstanding shall be deemed to be a Private Cost and dealt with as detailed in Clause 9 herein.

 

G The parties agree that two weeks after the date on which they receive notice in writing that the total balance of Cascade CoHousings bank accounts has fallen below three thousand dollars ($3000), unless the parties agree otherwise (pursuant to Clause 6-D) before that date, the common costs share of each party shall be increased according to Schedule 4, and the increase shall be dealt with as a private cost and each party shall pay to Cascade CoHousing the amount of money listed in Schedule 4 herein (and adjusted in the manner of Clause 8-B for increases in the CPI for Hobart) corresponding to the party's house size.

 

H The parties agree that on receipt of building approval each party shall submit to Cascade CoHousing a copy of their HCC approved plans indicating thereon any parts of the house they do not intend to build in the first instance and in respect of which they do not wish to pay a common costs share and from these plans Cascade CoHousing shall calculate each parties house size.

 

I The parties agree that after receipt of building approval and prior to commencement of construction each party shall pay to Cascade CoHousing (or be paid by Cascade CoHousing if their share has reduced) the difference between the common costs share paid on joining and the party's common costs share according to house size determined pursuant to Clause 8-H.

 

J The parties agree that where a party intends to extend their house beyond the area in respect of which they have paid a common costs share they shall submit to Cascade CoHousing a plan showing the area of the extension and shall pay to Cascade CoHousing such an amount that in total the party has paid the common costs share according to Schedule 3, as at 15 April 1991, (and adjusted in the manner of Clause 8-B for increases in the CPI for Hobart) for the revised house size .

 

K The parties agree that auditable accounts of all common costs shall be kept by a person elected by Cascade CoHousing and that any party may have access thereto and may make copies.

 

L The parties agree that amounts paid by a party directly to a real estate agent as a deposit on land purchased by Cascade CoHousing shall be deemed to be a part payment of the said party's common costs share.

 

M The parties agree that not withstanding Clause 8-A, for the purpose of maintaining a fair distribution among the parties of the common costs of the development, they

 

(i) may re-allocate the common costs of the development amongst themselves using any method to which they agree unanimously on any date to which they are in agreement,

 

(ii) shall re-allocate the common costs on the 1st day of January 1993 and within two weeks prior to the date on which any stratum plan is lodged with the Recorder of Titles and

 

(iii) shall not make any further re-allocation of common costs after stratum titles for all dwellings in the cohouse have been transferred to the respective owners thereof.

 

N The parties agree that any increase in common costs share paid by a party shall be added to the party's nominal common costs share as at the date of payment and any amount paid to a party as a repayment of common costs share shall be subtracted from the parties nominal common costs share as at the date of payment.

 

9 Private Costs

A The parties agree that in the event that private costs are incurred by Cascade CoHousing on behalf of a party either out of necessity or with the consent of the party then the party receiving the benefit shall be sent a letter detailing the costs and requiring them to pay to Cascade CoHousing an amount equal to the costs within one month of the posting of the letter.

 

B The parties agree that in the event of a party not paying the amount outstanding pursuant to Clause 9-A within the prescribed time then the outstanding amount shall be deemed a loan from Cascade CoHousing to the party and shall carry interest at a rate not greater than the prevailing Commonwealth Bank home mortgage rate and with other terms and conditions determined by Cascade CoHousing.

 

C The parties agree that any default on the repayment of a loan for private costs created pursuant to Clause 9-B herein shall be treated as detailed herein for bank loans in Clause 12.

 

D The parties agree that a stratum title shall not be transferred to a party unless said party has paid to Cascade CoHousing any monies owing pursuant to Clause 9 herein.

 


E The parties agree that Cascade CoHousing shall arrange the provision of all necessary storm water connections to each private dwelling at a cost of $1000 per private dwelling and that this shall be a private cost and shall be levied on a party prior to the work being carried out, furthermore, if the cost for any particular private dwelling is greater or less then $1000 then the parties agree that no refund shall be paid in relation nor shall any additional levy be imposed.

 

10 Calculation of equity

A The parties agree that the value of a party's equity in the Cohousing development shall be calculated using the following process where all values are as at the time of calculation and the amount obtained in step six is the value of the party's equity:

 

(i) take the total value of the assets of Cascade CoHousing

 

(ii) then subtract the total value of all private dwellings

 

(iii) then multiply by the party's nominal common costs share

 

(iv) then divide by the total of all the parties' nominal common costs shares

 

(v) then add the value of the party's private dwelling

 

(vi) then subtract the amount of any principal or interest outstanding on any loans from Cascade CoHousing to the party

 

(vii) and then finally subtract the amount outstanding of any loans undertaken by the party against the security of the property of Cascade CoHousing.

 

B The parties agree that in the case that the value of the private dwellings cannot be determined separately from the value of the land or from each other the parties shall request the president of the Law Society of Tasmania or his/her nominee to appoint a registered land valuer who shall apportion the value between the land and the private dwellings paying heed to the intentions of this agreement.

 

C The parties agree that equity calculated pursuant to Clause 10 herein shall not imply that a party has any claim on Cascade CoHousing in the case that the party sells his/her share for less than the said equity.

 

11 Bank Accounts

A The parties agree that bank accounts shall be opened in the name of Cascade CoHousing into and from which all funds applicable to Cascade CoHousing except deposits paid on land shall be transferred.

 

B The parties agree that such accounts shall require the signatures of at least two of the parties hereto for funds to be withdrawn.

 

C The parties agree that a meeting will be held at which the bank and type of account shall be decided and the names of the parties who shall be able to operate the accounts will be nominated and that a record of this decision shall be kept in the manner described in Clause 6-K hereof.

 

12 Bank Loans

A The parties agree that Cascade CoHousing may take out loans against the commonly owned property of Cascade CoHousing and/or allow individual parties to borrow against the security of such property subject to the unanimous consent of all parties and subject to such requirements and restrictions as may be imposed from time to time.

 

B The parties understand that all parties may be jointly and severally liable for loans taken out by Cascade CoHousing or secured against the property of Cascade CoHousing.

 

C The parties agree that a separate loan agreement in a form suitable to Cascade CoHousing shall if required by the other parties be entered into between Cascade CoHousing and any party receiving money borrowed against the security of any property of Cascade CoHousing.

 

D Unless agreement is otherwise reached the parties agree that Cascade CoHousing shall have uniform criteria against which all requests for loans against common property shall be judged.

 

E The parties agree that loan instalments due by any party in respect of any individual borrowings shall if required by the other parties be paid from a bank account of Cascade CoHousing and that in this case each party who has borrowed money against the security of property owned by Cascade CoHousing shall pay into that account their share of the loan instalment prior to the due date.

 

F The parties agree that if loan instalments are not paid directly from an account of Cascade CoHousing as detailed in Clause 12.E hereof that the parties who are debtors may be required to provide evidence within one week of the due date to Cascade CoHousing that each loan instalment has been paid.

 

13 Procedure in Default of Loan Repayments

A The parties agree that in the event of a party defaulting on the payment of two or more consecutive loan instalments then the following shall occur:

 

(i) The amount due to the financial institution shall be paid from the reserves of Cascade CoHousing.

 

(ii) An amount equal to the amount due to the financial institution shall be subtracted from the defaulting party's nominal common costs share.

 

(iii) Written notice of the failure to make the repayments and the fact that his/her nominal common costs share has been reduced shall be given to the defaulting party together with a request that the amount defaulted plus a charge determined by Cascade CoHousing to cover any extra interest and/or expenses associated with the default be paid to Cascade CoHousing immediately.

 

(iv) A meeting between the defaulting party and another party nominated by Cascade CoHousing shall be arranged to discuss the circumstances of the default and determine what if anything can be done by Cascade CoHousing to help the person meet his/her repayments.

 

(v) If the amount due to the financial institution and the amount of any extra charges are received from the defaulting party then an amount equal to the amount due to the financial institution only shall be added to the party's nominal common costs share.

 

B The parties agree that in the event of a party defaulting on the payment of two or more consecutive loan instalments and Cascade CoHousing having no reserve funds to meet the repayment then the following shall occur:

 

(i) The other parties shall each advance to Cascade CoHousing such amounts that are sufficient when totalled to meet the amount due to the financial institution.

 

(ii) If the parties cannot agree on the amount each party shall advance pursuant to Clause 13-B-(i) then a mediator or arbitrator shall be appointed pursuant to Clause 6 herein.

 

(iii) An amount equal to the amount due to the financial institution shall be subtracted from the the defaulting party's nominal common costs share.

 

(iv) An amount equal to the amount advanced by a party pursuant to Clause 13-B-(i) shall be added to that party's nominal common costs share.

 

(v) Written notice of the failure to meet the repayments and the fact that his/her nominal common costs share has been reduced shall be given to the defaulting party together with a request that the amount defaulted plus a charge determined by Cascade CoHousing to cover any extra interest and/or expenses associated with the default be paid to Cascade CoHousing immediately.

 


(vi) A meeting between the defaulting party and another party nominated by Cascade CoHousing shall be arranged to discuss the circumstances of the default and to determine what if anything can be done by Cascade CoHousing to help the person meet their repayments.

 

(vii) If the amount due to the financial institution and an amount equal to the extra charges are received from the defaulting party then:

 

a) Amounts advanced pursuant to Clause 13-B-(i) by other parties shall be repaid.

 

b) An amount equal to each party's contribution pursuant to Clause 13-B-(i) shall be subtracted from their nominal common costs shares.

 

c) An amount equal to the amount due to the financial institution only shall be added to the defaulting party's nominal common costs share.

 

C The parties agree that if a party's equity reaches zero dollars ($0) then:

 

(i) The said party no longer owns any share of the Cohousing development.

 

(ii) The said party's name shall be removed from the titles to all common property of Cascade CoHousing without any payment to the said party.

 

(iii) If the said party refuses to sign any and all documents required for the said transfer of title and the facilitation of the intention hereby created the said party hereby appoints the president of the Law Society of Tasmania or his/her nominee as his/her Attorney for the purpose of signing any and all documents required for the said transfer of title and the facilitation of the intention hereby created.

 

(iv) If the said party had constructed a private dwelling or part of a private dwelling and Cascade CoHousing is able to sell that dwelling then the proceeds of the sale shall be distributed pursuant to Clause 13-E herein.

 

D The parties agree that if any party is in default of loan instalments for a period of six or more months and the said defaulting party's equity is still positive then:

 

(i) Cascade CoHousing may sell the said party's share in the Cohouse to any person it chooses for whatever price it deems reasonable.

 

(ii) If the said party refuses to sign any and all documents required for the said transfer of title and the facilitation of the intention hereby created the said party hereby appoints the president of the Law Society of Tasmania or his/her nominee as his/her Attorney for the purpose of signing any and all documents required for the said transfer of title and the facilitation of the intention hereby created.

 

E The parties agree that in the event of a party's share being sold because the party is in default of loan repayments then the amount received for the share shall be used:

 

(i) Firstly to pay off any outstanding bank loans and fees.

 

(ii) Secondly to repay any advances to Cascade CoHousing made by other parties.

 

(iii) Thirdly to reimburse Cascade CoHousing for any extra interest or other costs it has incurred as a result of the default.

 

(iv) Finally any amount remaining shall be transferred to the defaulting party.

 

14 Definition of Completion of the Cohouse

The cohouse shall be said to be complete when a Corporate Body has been created to manage the stratum units and stratum titles for all private dwellings have been issued and transferred to the respective owners thereof.

 

15 Sale of shares in the Cohouse during the period of this agreement

A The parties agree that the parties either individually or as a group have no obligation to purchase the whole or any part of a party's share of the development in the event that a party no longer wishes to be part of the Cohousing development.

 

B The parties agree that a signatory hereto may sell his/her share in the Cohouse subject to the following restrictions:

 

(i) The purchaser of the said share must agree to be bound by and sign at the time of the sale this or such other agreement as may be required to give effect to the intentions of Cascade CoHousing and

 

(ii) The purchaser must undertake to continue any obligations undertaken by the party selling and

 

(iii) The party selling must discharge any loans held against the security of any property of Cascade CoHousing or undertaken on the party's behalf by Cascade CoHousing and

 

(iv) The party selling must provide written notice to Cascade CoHousing of his/her intention to sell and

 

(v) The parties agree pursuant to clause 6-D herein that the potential purchaser is acceptable to them.

 

C The parties agree that where a party has given written notice to Cascade CoHousing of his/her intention to sell a share that does not include a private dwelling or partially constructed private dwelling and the sale price of the share is no higher than the then current nominal common costs share then Cascade CoHousing shall not sell any share in the development prior to the sale of that party's share.

 

D The parties agree that where a party has given written notice to Cascade CoHousing of his/her intention to sell a share that includes a private dwelling or partially constructed private dwelling for a price higher than the then current nominal common costs share that Cascade CoHousing remains free to sell new shares.

 

E The parties agree that the common costs share of a party who has joined by purchasing a share from a previous party shall be recalculated according to his/her proposed house size as at the date of joining and an adjusting amount levied or paid as appropriate.

 

16 Where some private dwellings are constructed before the common house is constructed

A The parties agree that by definition the cohouse is proceeding if the construction of one or more private dwellings has commenced and therefore that no party can require that any land be sold unless there is unanimous agreement between the parties.

 

B The parties agree that in the case five or more private dwellings have been constructed and occupied that:

 

(i) The parties shall try to come to an arrangement whereby some part of the development can be used as common space without additional cost.

 

(ii) In the event that common space pursuant to Clause 16-A is not arranged that:

 

a) All parties shall contribute an amount of three dollars per week towards the cost of interim common facilities except where two or more parties are jointly building the one private dwelling in which case such parties shall pay three dollars between them.

 

b) Each adult occupying a private dwelling on the site shall pay an additional amount per week such that the total amount available for providing such interim common facilities is $70 per week adjusted according to the CPI for Hobart every 12 months after 1 January 1992.

 

(iii) If a party cannot afford to pay the amount required pursuant to Clause 16-B-(ii) that the parties shall seek to find a way that such a party can contribute his/her labour in lieu of a cash payment.

 

17 Unit Entitlement

The parties agree that the "unit entitlement" of each dwelling in the stratum plan of the completed cohouse shall be determined by agreement between the parties at such time as it becomes necessary to create unit entitlements.

 

18 Quarterly levy

A The parties agree that they shall pay to Cascade CoHousing a levy of $100 per quarter, or other such amount as the parties may agree from time to time, such amount to be used for the payment of all agreed administrative costs of Cascade CoHousing and the usual costs attributable to the owners of the Cascade CoHousing land at Saunders Crescent, including but not limited to council rates, land tax, liability insurance, advertising, mowing and land maintenance and any other agreed costs.

 

B The parties agree that they shall levy the quarterly levy (pro rata from the date of payment of the deposit) on all persons who have paid a deposit against a share in Cascade CoHousing.

 

19 Contribution of labour

A The parties agree that each of them shall freely contribute their labour to the tasks of designing, building, administering, managing and maintaining the Cascade CoHousing development in such a manner that the tasks are distributed equitably between them.

 

B The parties agree that unless the parties contribute their own labour, in total equivalent to at least $24,000 worth of a professional builders labour, that the preferred common house cannot be built with a budget of $100,000 and agree that they shall each contribute their labour such that between them sufficient labour is contributed to build the common house on budget.

 

 

20 On the Death of a Signatory

The parties agree that this agreement shall bind the heirs and assigns of any party and the parties agree not to enter into any agreement with any other party which may effect the intention of this agreement.

 

21 Variations to these conditions

The parties agree that the terms of this agreement can only be changed or waived if there is unanimous consent of all parties and that a document recording the change or waiver is signed by all the parties hereto and appended to this agreement.


SCHEDULE ONE

 

Parties' dates of joining Cascade CoHousing and voting weights:

 

See paper copy

 

 

 

SCHEDULE TWO

 

 

see paper copy