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Fillable Printable Agreement of Purchase and Sale - Newfoundland and Labrador
Fillable Printable Agreement of Purchase and Sale - Newfoundland and Labrador

Agreement of Purchase and Sale - Newfoundland and Labrador

GIBRALTAR DEVELOPMENT LIMITED.
AGREEMENTOF PURCHASE AND SALE
_____________________________________,of ___________in the Province of
Newfoundlandand Labrador, (hereinafter called the"Purchaser")herebyoffers to
purchasefrom GibraltarDevelopmentLtd. (hereinaftercalled the"Vendor") the property
known asUnit No. ______ of theVendor’sCondominium Development atCivicNo.25
Rhodora Street, St. John’s,NL, forthe sum of
________________________________Canadian Dollars ($___________)upon the
following terms and conditions, payable as follows:
1)byaninitialdown-paymentof $30,000.00(receipt of which ishereby
acknowledged) payable to the Vendor
2)the balance of the purchase price payable upon closing.
3)down payment is refundable if:
a)Gibraltar Development Limitedfails tocompletepreparation of the unit for
occupancy within 12 months of the identified closing date
b)In the event of a purchasers death, down payment can be returned upon request
c)Under other conditions that are specifically agreed to and added here
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CONDITIONS:
4.Buildingstructure, materials,equipment and finisheswillbein accordancewith
plansand specification prepared bySheppard CaseArchitects, meetingor
exceedingbuildingcoderequirements.Additionalinformation regardingstandard
inclusions can be found in the attached Appendix
5.Provided the title is good andand marketable and free from allencumbrancesand
in accordance with the Condominium Act;
6.MunicipalTaxesandcondominium fees, if assessed, will be apportionedas at the
date herein fixed as the closing date.
7.It is a condition of this sale that if thePurchaserrequires a loanto finance this
transaction,the Purchasershall obtain approval forsuch loan on orbefore
__________, 2013, and within that time theVendororits agent shall receive
written notice of the approvalof such loan.If theVendor oragentshall failto
receive suchnotice within thetime aforesaid,thenthis agreement shall be void
and of noeffect and the Purchaser’s initialpaymentshallbe returned.(Please
initial one: Financing required ____; No financing required____).
8.This transaction of Purchase and Sale is targeted to be completed on or before the
_____dayof ___________, 2013(the “closingdate”).The closingdateissubject
torevision to accommodate delayincompletion arisingfrom causesreasonably
beyond the Vendor’s control.
9.Vacant possession to be given by the Vendor on the closing date.
10.This offer, whenaccepted,shallconstitutea bindingcontract of Purchaseand
Sale, and time shall in all respects be of the essence hereof.
11.Purchaserto forfeit payments made hereunderunlesshe completesasagreed
hereby.
12.This offerandits acceptance to beread withallchangesof genderornumber
required by the context.
13.This agreementshalloperateforthebenefit of and be bindingupon the parties

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hereto, andtheir respective heirs,executors,administrators and successors.Itis
not assignablewithouttheconsentof both parties, whichconsentwill not be
unreasonably withheld.
14.All buildings and equipment upon therealpropertyshallbe and remain attherisk
of the Vendor untilclosing. Pendingcompletion of sale, the Vendorwill hold all
insurancepolicies and the proceeds thereof intrust forthe partiesas their interest
may appear.
15. The Vendor warrants that the propertycitedin this agreementdoesnot and will
not at least until the closing date contain Urea Formaldehyde Foam Insulation.
16.$25,000in allowances(HST included). Tobeused bypurchasertopurchase
cabinets, flooring, and lighting.Units401,402,403, 404have $50,000 in
allowances. (HST included).
17.Purchaseracknowledgesthatthe Unit beingpurchased forms part of a
Condominium and that it is subject to monthly condominium fees.
Further to 16. Approved suppliers and contacts are as follows:
Flooring **
Cohen’s Carpet OneBarbara Aucoin 739-6027
Paint Shop, 445 Torbay RdBob Nash 739-6955
Carpet Factory, 1 Logy Bay RdLamont Whalen726-8232
Kitchen & Vanity Cabinets
Crown Cabinets, 349 Kenmount RdDon Escott 726-6668
Custom Cabinets,156 Major’s PathJohn 576-3275
Nu WayKitchens, 1328 Topsail Rd Keith Crocker 782-1711
Lighting
McLoughlan’s Lighting World
22 Blackmarsh RdSandra Mitchell 576-4091
Lamp Post,87 O’Leary AveWayne O’Keefe570-5703
** Pre-engineeredhardwood is generally NOT anacceptable flooring product for
use in this development.The surface tends to be highly susceptible todamage.
Gibraltar Development Limited will not accept responsibility for damage to pre-
engineered hardwood during construction.

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Laminate floors are floating on a concrete substrate. Movement and deflection is
normal. A superior quality underpad is required.(Selitac underlayment from
Shaw floors is a minimum standard)
18.If aclient wishestosubstituteitemsfor which alternative selectionsare notoffered
(eg: sinks, faucets, doorhardware)priorapprovalisnecessary. If the substitution
is acceptable,theseitems shallbe purchased and deliveredtosite bytheclient
on or before the requested date. The cost of the item replaced will be credited on
closing. It is recommendedthat client confirm the credit values prior to
proceeding. Suchchanges often result in additional labour. Anyadditional work
associated with such changeswill proceed on a cost-plus basis
19. Solid surface counter tops can onlybe ordered after final kitchen measurements
are taken. Ifsolid surface counter tops and/or vanity tops are selected, their
completion will not affect closing. Units will be closed with kitchen and vanity
sinks temporarily installed in cabinetry.
20. Gibraltar Development Limited requires to following schedule to be adhered to:
a.Cabinet selections to be finalized and signed off on by:______________
b.Paint selections to be finalized by: __________________
c. Lighting selections to be finalized and ordered by: __________________
d.Flooring selections to be finalized and ordered by: __________________
Out ofstock/ longdeliveryitems must be approved by Gibraltar Development
Limited.
21.Client will be required to complete an electrical walkthrough. Gibraltar
Development will provide one weeks notice.
CLOSING
Units will beclosed when substantial completionhas beenachieved andan
occupancypermit issued. The occupancy permit may note minor deficiencies for
completion within the unit or requirements associatedwith the final approval of
the base building. If onthe day of closing there are items that are not completed
(i.e. granite counter tops, etc.) the purchaser agrees to complete the purchase of
the propertyonthe closing date without holdback ofany portion ofthe final
purchaseprice, and to accept fromGibraltar Development Limited its Letter of
Undertaking. This document will identify theagreed-to incomplete or deficient
items and specify a reasonable completion date for the outstanding work.
The closing date identified in the Purchase andSale document is tentative. The
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closing date will be assessed throughout construction, and the purchaser will be
advised if arevision is required. Closing dates can be finalized once kitchen and
flooringinstall dates have beenconfirmed. If the purchaser delays closing
beyond the agreed closingdate, costs associated with interest expense onthe
outstanding balance maybe charged,provided Gibraltar Development Limited
has completed its contractual obligation under this agreement. Gibraltar
Development Limited assumes no liabilityin damagesifthe propertyin question
does not close on the set agreement date.
Closing will not be delayed duetoout of stock selections. For example, lamp
holders will temporarily substitute for long delivery light fixtures.
No personal contents are toenter thehome until the property is officiallyclosed.
Unless appliances are built in (i.e. dishwasher, cook top, wall oven), Gibraltar
Development does not allowappliances to be moved in and installed before
closing and assumes no responsibilityfor anydamages associated with the
delivery or installation of these appliances.
Gibraltar Development Limitedis not responsible for the theft, loss or damage of
purchaser’spropertydelivered to or left on property prior toclosing. (e.g.
Appliances, lighting, furniture, etc.)
The following matters are of note on final inspections:
All work shall be completed in a good and workman like manner. Acceptance of
the work is subject to the purchasers final inspection conducted in a reasonable
manner. Final inspection is tobe completed by the home purchaser and their
agent (if applicable) accompaniedby a Gibraltar representative. Having a
Gibraltar Development representative present, ensures that issues that require
attention canbe determined, a resolution agreed to, and action taken in a timely
manner.
Purchaser acknowledges herein that the standard of acceptance is as follows:
Flooring: Flooring shall be inspected in a standing position in normal household
lighting conditions. Visible dents and scratches will be repaired by Gibraltar
Development. Purchaser should understand when selecting materials, the
quality of finished products is directly related to the quality of material purchased.
Also, dents and scratchs are far more visible in darker floors.
Painted Walls: Uniformity of color and sheen with no visible defects when

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viewed from a distance of five feet 90 degrees to the surface under normal
household lighting conditions.
Painted Ceilings: Uniformity of color and sheen with no visible defects when
viewed from the floor at 45 degrees to the surface under normal household
lighting conditions.
HST
HST is to be included in sale price.
Purchaser acknowledges that this property is being purchased as a principle
residence & therefore is eligible for the HST Rebate. The Purchaser agrees to
assign the HST Rebate back to the Vendor on closing. If for any reason the
Purchaser is unable to sign the HST Rebate to the Vendor then the calculated
value of the HST Rebate will be added to the purchase price indentified in this
agreement and any following amendments. Alternately, purchaser may increase
the initial down payment amount by $100,000, payable upon acceptance of this
offer, to be applied in part to the purchase price in lieu of the assignment of the
HST Rebate
WARRANTY
It is understood that Gibraltar Development Limited provides a one year warranty
covering materials and labour defects. This warranty dates from the initiation of
the condominium corporation, or the date of purchase of your suite, whichever is
the latter. The structure has been designed and inspected by the architectural
and engineering firms identified on the project drawings and is subject to their
liability coverage. The building envelope, structure and common elements are
maintained and insured by the condominium corporation.
SITE ACCESS
Purchasers understand & agree that due to Gibraltar’s legal liability, they are not
permitted to enter a property under construction unless accompanied by a
Gibraltar representative. To do so, an appointment must be made with the listing
agent one day in advance. The purchaser also understands and agrees that
when entering a home under construction, they do so at their own risk. Gibraltar
assumes no responsibilities for injury should it occur.
This purchase and sale agreement including all appendices attached, form a
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binding contract between Gibraltar Development Limited and the Purchaser(s).
The information contained herein, supersedes all other documentation prior to
the agreement of purchase and sale.
Additional terms and conditions (if any):
This offershall be openforacceptance bytheVendoruntil ___________ on the ______
dayof _____________,2013, afterwhich time if notacceptedit shall be null and void and
any payment made by the Purchaser shall be returned as soon as practicable.
I acknowledge having read and received a copy of this agreement at the time of signing.
Dated at ________________________________,in the Provinceof Newfoundland and
Labrador , this ______ day of ________________, 2013.
______________________________________________________
Witness Purchaser
______________________________________________________
Witness Purchaser
We hereby accept the above offer and agree to sell on the above terms.
Dated at ________________________________,in the Provinceof Newfoundland and
Labrador , this _____ day of _______________, 2013.
_______________________________________________________
Witness Gibraltar Development Limited. - Vendor
_______________________________________________________
Vendor's Solicitor Purchaser's Solicitor

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APPENDIX
Standard inclusions and conditions
One interior parking space (location to be confirmed)
Individual storage locker off parking garage (location to be confirmed)
Washroom accessories (ie, mirrors, towel bars, paper holders) are not included.
Installation of accessories is included, provided they are on site prior to closing.
Pre-selected trim including crown moulding in presentation areas, where
applicable.
40 gal hot water tank
Maxx “Jazz” free standing tub in en-suite
4’ acrylic shower with sliding glass door in en-suites of the following units:
103, 104, 105, 106, 107. 203, 204, 205, 206. 303, 304, 305, 306.
Built in shower with hinged glass door and slide bar shower head in en-suites of
the following units:
NOTE: Tile to be purchased from flooring allowance
101, 102, 108. 201, 202, 207, 208. 301, 302, 307, 308. 401, 402, 403, 404.
Moen “Eva” faucets and trim.
Pre-wire for: 4 telephone, 4 cable, 4 data
4 pot lights in kitchen (fixture to be purchased from lighting allowance)
4 pot lights in living room (fixture to be purchased from lighting allowance)

CLIENT INFORMATION SHEET
Purchasers Name(s):________________________________________________
Telephone number(s): ________________________________________________
Email address(s): ________________________________________________
________________________________________________
Real Estate Agent:________________________________________________
Solicitor for Purchaser: ________________________________________________