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Presentation/PPT
27/08/2022
This assignment may account for 40% of the total mark for the paper (see the Study Guide for details of the assessment structure).
For genera)ons, Garry Boldis family have owned a8rac)ve and valuable farm land north of Auckland. Garry has spent many holidays in Italy, and loves the Italian way of life.
In 2004 Garry subdivided his farm to provide cash and ongoing funds for his re)rement.
He created a 10 lot subdivision from part of the farm. He imposed covenants on each of the issued )tles, with him as the bene)ng party.
1. Any development must be built in conformity with one of the four styles of Italian architecture, plans of which are a8ached to the covenants;
2. Before construc)on, Garry must personally approve in wri)ng that all building plans comply with the style requirements;
3. No property can be used for any commercial purpose except for Italian Takeaways;
4. Each )tle owner must belong to Rozzo Inc, an incorporated society Garry has set up. As members, over the next 10 years, every six calendar months from the date the covenants are imposed, each member will pay to Garry an annual membership fee of 1% of the then current rateable value of the unimproved land value of their )tle, towards Garrys re)rement.
(the covenants)
The remaining part of the farm Garry subdivides in two in 2005. One part he calls Blueacres. Following subdivision, Garry leases Blueacres out to an adjacent farmer, Fred. The lease contains the covenants, as well as other covenants one would normally expect to nd in a lease of farmland.
The remaining part of the farm Garry calls Greenacres. He sells Greenacres to Gallops Inc, a Pony Club which is also an incorporated society. Before he sells Greenacres, Garry registers an encumbrance instrument over the )tle for 999 years, imposing a rent charge of one dollar a year
against the land (if demanded). The encumbrance instrument also imposes the covenants against the land.
Since the subdivision look place, all of the 10 lots have changed hands at least once. In 2005 Fred, assigned the lease for Blueacres to Anne. In 2010 Anne assigned the lease to Jim, another farmer in the area.
The present owners of the 10 lot subdivision, the Gallops Inc and Jim have recently stopped paying to Garry the funds required under the covenants.
REQUIRED
Advise Garry how enforceable each of the covenants are against:
a. The original purchasers of the 10 lot subdivision;
b. Present owners in the 10 lot subdivision; c. Fred;
d. Anne;
e. Jim;
f. Gallops Inc.
For the purpose of answering this ques)on accept the covenants do not breach consumer protec)on legisla)on, credit contract legisla)on and are or not contrary to public policy. Further, ignore any sugges)on that if some of the covenants are found to be invalid, they are ALL unenforceable
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