AGREEMENT OF SALE

Made and entered into by and between

SELLER:
I.D. No:
D.O.B :

ADDRESS

TELEPHONE

PURCHASER:
I.D. No.:
D.O.B.:

ADDRESS

TELEPHONE

PROPERTY CERTAIN piece of land situate in the District of

Called
Measuring
Held under Deed of Transfer No. /
Dated

IMPROVEMENTS

PURCHASE PRICE US$120 000.00 (ONE HUNDRED AND TWENTY

THOUSAND UNITED STATES DOLLARS) payable as follows:

a. US$5 000 to paid upon signing of the agreement

b. The remaining $15 000 to be paid as follows:

The seller acknowledges that they are required to

obtain clearance from the Zimbabwe Revenue Authority
in respect of their Capital Gains Tax liability attached to
the sale of the said property

The seller agrees to ensure that all utility bills i.e Zesa,
City of Harare, Tel One, etc are paid up in full prior to
the date of Transfer.
GENERAL CONDITIONS

1. TRANSFER

1.1 Transfer of the property to the Purchaser shall, subject to due

compliance by the Purchasers with their obligations hereunder,
be effected by MAJA & ASSOCIATES who shall, within a
reasonable period after payment of the purchase price in full
and on behalf of the Seller, tender transfer to the Purchaser.

1.2 The Purchaser shall provide to MAJA & ASSOCIATES within five
[5] days of being called upon to do so:

3.2.1 the amount of all costs of transfer, government stamp

duty and any other costs and charges that may be due
by them.
3.2.2 such data, information and documents (duly completed)
as may be requested in order to effect the transfer.

1.3 The Seller shall within five (5) days of the payment of the
purchase price do all things necessary in respect of the Seller’s
obligation to pay capital gains tax, or make application for an
exemption or roll over in order to facilitate the transfer of the
property to the Purchaser.

1.4 The Purchaser shall within five days of being called upon to do
so by MAJA & ASSOCIATES to attend an interview at ZIMRA, as
a requirement for the Seller to obtain a Capital Gains Tax
Clearance Certificate.

2. CONDITION OF THE PROPERTY

2.1 The property is sold voetstoots together with all permanent

fixtures and fittings in the condition they are.

2.2 The Seller shall not be responsible for any defects in the
property, whether patent or latent, which may now exist or
may in the future be found to exist, nor shall the Seller be
liable for any material statement or statements concerning the
property except such material statements as are included in
this Agreement and signed by the Purchaser and the Seller.

2.3 The Purchaser acknowledges that they have inspected the

property, that they are satisfied as to the nature and condition
thereof, any servitudes or leases to which the land may be
subject and its extent boundaries, beacons and locality,
hereby waiving and abandoning any claim she may otherwise
have had against the Seller for any deficiency in area.
3. DEFAULT

3.1 Notwithstanding any extensions of time or other indulgences or

concessions as may be given by the Seller to the Purchasers, in
the event of the Purchasers failing to observe or perform fully
any of the obligations or stipulations contained herein and
incumbent upon him/her/it, and failing to rectify such breach
within SEVEN [7] days of notice calling upon him/her/it to do
so, then and in such event, the Seller shall be entitled, without
prejudice to any other claim the Seller may have against the
Purchasers to cancel and determine this Agreement without
further notice, and to retain all payments made by the
Purchasers on account of the purchase price as rouwkoop [pre-
estimated damages] or institute legal proceedings against the
Purchasers for the balance of the purchase price owing under
this Agreement and for any other monies due to the Seller,
without prejudice to any legal remedy which they might have
against the Purchasers.

In the event of cancellation it is recorded that any claim for

damages will include, inter alia, wasted legal fees, Agents
commission, fees and expenses.

3.2 In the event of the Seller being in default and failing to

remedy such default within SEVEN (7) days of written notice
being given requiring it to remedy such default, the Purchasers
may by way of written notice either cancel this Agreement or
enforce it, and in either case claim damages.

4. NON-PREJUDICE CLAUSE

Notwithstanding any express or implied provisions of this Agreement

to the contrary, any latitude or extension of time which may be
allowed by the Seller to the Purchaser in respect of payments due
hereunder or any relaxation of any provisions of this Agreement shall
not under any circumstances be deemed to be a waiver of the Seller’s
rights under this Agreement.

5. NOTICES

5.1 The Seller and the Purchaser hereby choose as their respective
domicilium citandi et executandi for all purposes of this
Agreement their addresses set out on page one or such other
address or addresses as the parties may from time to time
notify each other in writing.

5.2 All notices required to be given in terms of this Agreement and

all process shall be deemed to have been validly given or
served if addressed to the party concerned and delivered to
the given domicilium address.
6. CAPITAL GAINS TAX CERTIFICATE

It shall be the Seller’s obligation to obtain a Capital Gains Tax

Clearance Certificate from the Zimbabwe Revenue Authority (ZIMRA).
The Conveyancer will release funds from the purchase price to Zimra
to facilitate the seller to pay the Capital gains tax once the Capital
gains assessment is out.

7. RISK AND PROFIT

The risk and profit shall pass from the Seller to the Purchaser on date on
which the purchaser is given vacant possession of the property.

8. DISPUTE RESOLUTION

Any dispute arising from this transaction directly or indirectly shall be

dealt with and resolved through arbitration in terms of the
Arbitration Act. The parties to a dispute shall agree on and appoint
an Arbitrator and failing such an agreement, and then in that event,
the dispute shall be dealt with by an Arbitrator appointed by the
Chairman for the time being of the Commercial Arbitration Centre at
Harare.

9. APPLICABLE LAW

Zimbabwe law shall apply to this transaction.

10. WHOLE AGREEMENT

This Agreement constitutes the entire contract between the parties

hereto otherwise than as may be recorded herein and: -

10.1 No warranty, representation, promise or undertaking has been

given or made by either party to the other except as recorded
in this Agreement;

10.2 No variation in this Agreement shall be valid unless reduced to

in writing and signed by or on behalf of the parties hereto.

11. COSTS

The purchaser shall pay to the conveyancers the sum of US$300 for
preparation of this agreement of sale on signing of this Agreement.

SIGNED by the SELLER at HARARE this DAY OF 201

AS WITNESSES:

1…………………………… …………………………………………………………….
Seller

2 …………………………..

SIGNED by the PURCHASER at HARARE this DAY OF 201

AS WITNESSES:

1.…………………………… …………………………………………………….
Purchaser

2…………………………….