This agreement is made on between (1) (Holder(s) of Hong Kong Identity Card(s) No(s). and Holder of Certificate of Availability for Sale No.) of (hereinafter called 'the Vendor'); (2) (Holder(s) of Hong Kong Identity Card(s) No(s). and Holder of Certificate of Eligibility to Purchase No.) of (hereinafter called 'the Purchaser'); and (3) (Holder of Business Registration Certificate No.) of (hereinafter called 'the Vendor’s Agent') and(Holder of Business Registration Certificate No.) of (hereinafter called 'the Purchaser’s Agent').]OR [(3) (Holder of Business Registration Certificate No.) of (hereinafter called 'the Agent').] Now it is hereby agreedas follows: 1. The Vendor agrees to sell and the Purchaser agrees to purchase *[through the Vendor’s Agent and the Purchaser’s Agent/the Agent,] the Property known as(hereinafter called 'the Property') subject to the terms and conditions herein contained. 2. The purchase price of the Property is HK$ which shall be paid by the Purchaser to the Vendor in the following manner: (a) Initial deposit of HK$ shall be paid upon signing of this Agreement; (b) Further deposit of HK$ shall be paid upon signing of the Formal Agreement for Sale and Purchase on or before ; and (c) Balance of purchase price of HK$ shall be paid upon completion which should take place on or before . 3. Completion shall take place on or before and the Property is to be sold to the Purchaser subject to Clause 17 hereof but otherwise free from incumbrances. 4. Upon completion, the Vendor shall deliver vacant possession of the Property to the Purchaser. 5. The Purchaser shall not sub-sell the Property or transfer the benefit of this Agreement, whether by way of a direct or indirect reservation, right of first refusal, option, trust or power of attorney, nomination or any other method, arrangement or document of any description, conditional or unconditional, or enter into any agreement so to do before the completion of the sale and purchase of the Property. When fixing the date of signing of the Formal Agreement for Sale and Purchase, the Purchaser and Vendor should refer to Clause 8 below. 6. The Vendor and the Purchaser agree that they shall separately appoint their own solicitors. The Vendor shall be represented by and the Purchaser shall be represented by . 7. Each party shall bear its own legal costs. Subject to Clause 11 hereof, all stamp duty shall be borne by the Purchaser. 8. The Purchaser agrees to apply to the Housing Authority for a Letter of Nomination within one month from the date of this Agreement but in any event no later than seven working days prior to the signing of the Formal Agreement for Sale and Purchase. 9. In order to enable the Purchaser to apply for the Letter of Nomination, the Vendor agrees to tender the original of the Certificate of Availability for Sale to the Purchaser or his solicitors within days from the date of this Agreement but in any event no later than seven working days prior to the signing of the Formal Agreement for Sale and Purchase. 10. Should the Purchaser fail to obtain a Letter of Nomination (otherwise due to the Vendor’sfailure to tender the said Certificate of Availability for Sale pursuant to Clause 9 above) before the signing of the Formal Agreement for Sale and Purchase or fail to complete the purchase in manner herein contained or fail to observe any of the terms contained in this Agreement, the deposit shall be forfeited to the Vendor and the Vendor shall then be entitled at his sole discretion to sell the Property to other eligible purchasers as he thinks fit but without prejudice to the Vendor''s right to claim specific performance and damages from the Purchaser. 11. Should the Vendor fail to tender the original of the Certificate of Availability for Sale to the Purchaser or ........................
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