Luxury Building, Mortgage Free

TERMS AND CONDITIONS

North Homes’ Luxury Building, Mortgage-Free Promotion

North Homes Pty Ltd (ACN: 649 691 476) (“North Homes”) and Landen Property Group Pty Ltd (ACN: 642 578 498) (“Landen”) are pleased to offer the Luxury Building, Mortgage-Free promotion for Rouse Hill Stage 2.1, applicable to the purchasers of Lots 109 & 110 (“Customer”). This promotion is subject to the terms and conditions outlined below, in accordance with Australian Consumer Law, and is available until 30 November 2024.

Promotion Overview:

This promotion relates to the land component of your purchase and provides monthly payments of $5,000.00 for a maximum of ten (10) months during the home construction phase. Payments will be made by Landen into the Customer’s nominated account. These payments will commence on the date specified in the Notice of Commencement, which is issued by North Homes (or its nominated certifier) after the Construction Certificate has been approved. Payments will continue on the last business day of each subsequent month, for up to ten (10) months.

Important Notes:

• This promotion is conditional upon the Customer entering into an unconditional building contract for North Homes for the construction of a home on the qualifying lot (“Building Contract”).
• This promotion does not cover the entire mortgage but provides up to $50,000 in total payments (ten (10) monthly payments of $5,000 each) to assist with land mortgage costs.
• The promotion applies only to the specified lots and does not extend to any other property-related expenses or mortgage payments beyond the limits described.

Construction Timeline:

The commencement of construction will be based on the official Site Start date, as stated in the Notice of Commencement, issued by North Homes (or its nominated certifier) after all pre-construction requirements have been met.

Termination of Payments:

Payments will cease upon the earlier of the following:

1. The date of Practical Completion of the home, as defined in the Building Contract; or
2. upon reaching the total of ten (10) payments or $50,000, whichever occurs first.

Repayment in the Event of a Breach:

If the Customer breaches any material term of the Building Contract with North Homes or the Contract for the Sale of Land with Landen, all payments received under this promotion must be repaid in full to Landen. This includes any amounts paid under the promotion up to the date of the breach.

For the purposes of this clause, a material breach includes (but is not limited to) failure to make payments as required under the Building Contract or the Contract for the Sale of Land, or any other significant failure to meet contractual obligations. In such cases, the Customer agrees to repay Landen within fourteen (14) days of receiving a notice of breach and repayment demand from Landen.

Special Conditions:

Special conditions detailing this promotion will be included in the Contract for the Sale of Land relevant to each property. These conditions will further expand on the terms and clarify how this promotion applies to the land and home construction.

Additional Terms:

1. The home must be constructed in accordance with the terms of the Building Contract between the Customer and North Homes.
2. The promotion does not affect the Customer’s existing legal rights or obligations under the Building Contract or the Contract for the Sale of Land.
3. Payments will only be made to a nominated account in the name of the Customer(s).
4. Landen will not act as a guarantor for any mortgage facility entered into by the Customer(s), and Landen makes no covenants and assumes no obligations regarding the Customer’s mortgage repayments or compliance with any lender’s terms and conditions.
5. This offer cannot be combined with any other promotions or offers unless explicitly confirmed in writing by North Homes and/or Landen.

Transparency and No Misleading Representations:

This promotion is provided in good faith and is not intended to mislead or deceive Customers. The limitations, eligibility criteria, and conditions are fully disclosed, and Customers are encouraged to seek independent legal or financial advice if they require further clarification.

North Homes Builder’s Licence Number: BL374999C