1 payment terms 21 the deport shall be paid by the

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1) Payment terms 2.1 The deport shall be paid by the Purchaser to the family in instalments as follows: 2.1.1 Firstly, the Deposit shall be paid on or before the execution of this Agreement (receipt whereof the family member hereby acknowledges); then 2.1.2 Secondly, the balance of the balance shall be paid on the terms provided under clause 2.2 hereof. 2.2 On or before the Completion Date, the Purchaser’s witness shall give a professional undertaking to the sellers witness to pay to the pay on family. Being the amount of Kenya Shillings ..................................................................... in full within three (3) months of the delivery by the family witness to the Purchaser’s of the Completion Documents listed. 2) GRANT OF PAYMENT 4.1 The transfer of the Property shall be by way of the grant of the property from the family to the Purchaser in consideration of the payment of the agreement as herein provided. 4.2 The property shall be in the form or substantially in the form of the family standard draft transfer. FAILURE TO COMPLETE 10.1 If the Purchaser fails to fulfil his obligations under this Agreement including the obligation to complete the same and pay the purchase price as aforesaid and the apportioned outgoings and any other sum payable hereunder (and time shall be of the essence for the obligations which the parties hereby agree and declare to be a fundamental term of this Agreement) then: (i) The family shall be entitled to serve a notice in writing upon the Purchaser to make such payment in full within Twenty One (21) days from the date upon -2-
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which such notice is served on the Purchaser. If the Purchaser shall fail to make such payment before the expiry of the said notice then the family shall be entitled at its sole discretion either to extend such period for payment or to rescind this Agreement by notice in writing in that behalf to the Purchaser. (ii) In the event the family shall extend the time for payment the Purchaser shall pay the family interest on any moneys due under this Agreement remaining unpaid at the rate specified herein computed from the date such payment is due until the date of payment in full both days inclusive and for the avoidance of doubt the Purchaser hereby agrees that such interest shall automatically start accruing immediately any payment which is due is not paid on the due date. 10.2 If the family fails to comply with its obligations under this Agreement the Purchaser may give the family twenty one (21) days’ notice in writing to comply with its obligations and such notice shall specify the default and require the family to make it good within twenty one (21) days of such notice (time being of the essence) and if the family then fails to comply with the
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