1. East Vale Residents Company Ltd (EVRCL) Objectives:
a. To manage and administer such freehold or leasehold property or properties as the Company by Special Resolution may determine (hereinafter called “the Estate”) and any other land, buildings and real property, either on its own account or as trustee, nominee or agent of any other company or person.
b. To acquire and deal with and take options over any property, real, personal, including the Estate, and any rights or privileges of any kind over or in respect of any property, and to improve, develop, sell, lease except to render or dispose of or otherwise deal with all or any part of such property and any or all rights of the Company therein.
c. To collect all rents charges and other income and to pay all rates, charges, duties, levies, assessments or other outcomes of whatsoever nature charged or imposed on or in respect of the Estate or any part thereof save to the extent any owner or occupier may be liable for such items.
d. To provide services of every description in relation to the Estate including where appropriate to maintain, repair, renew, redecorate, repaint, clean, construct, alter and add to the Estate and to arrange for the supply to it of services and amenities and the maintenance of the same and the cultivation maintenance landscaping and planting of any land gardens and grounds comprised in the Estate and to enter into contract with builders, tenants, contractors and others and to employ appropriate staff and managing or other agents whatsoever in relation thereto.
e. To insure the Estate and other property of the Company in which it has an interest against damage or destruction or such other risks as may be considered necessary appropriate or desirable and to insure the Company against public liability and other risks which it may consider prudent or desirable to insure against.
f. To establish and maintain capital reserves, management funds and any form of sinking1 fund in order to pay or contribute towards all fees, costs and other expenses incurred in the implementation of the Company’s objects and to require the members of the Company to contribute towards such reserves or funds at such times in such amounts and in such manner as the Company may think fit and to invests and deal in such monies not immediately required in such manner as may from time to time be determined.
2. Data Protection
In accordance with the Data Protection Act 1998, East Vale Residents Committee Ltd will collect, use, protect and retain the information provided for the purpose of exercising or performing rights and obligations in connection with the management of the estate including the production of management information, which will be collected centrally and stored by our Management Company.
3. Directors Role and Indemnity
a. The Directors may sanction the exercise by the Company of all the powers of the Company to make provision for the benefit of persons (including Directors) employed or formerly employed by the Company or any subsidiary of the Company about the cessation or transfer to any person of the whole or part of the undertaking of the Company or any such subsidiary as are contained in Section 719 of the Act and Section 187 of the Insolvency Act 1986 and, subject to such sanction, the Directors may exercise all such powers of the Company.
b. Subject to the provisions of, and so far as may be permitted by the Act, every Director, Auditor, Secretary or other officer of the Company shall be entitled to be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred by him in the execution and discharge of his duties or in relation thereto including any liability incurred by him in defending any proceedings, civil or criminal, which relate to anything done or omitted or alleged to have been done or omitted by him as an officer or employee of the Company and in which judgment is given in his favour, or the proceedings are otherwise disposed of without any finding or admission of any material breach of duty on his part, or in which he is acquitted or in connection with any application under any statute for relief from liability in respect of any such act or omissions in which relief is granted by the Court.
4. Obligations of EVRCL:
a. Subject to the due-performance by the Property Owner/Shareholder of his obligation to pay the Service Charge the Management Company (EVRCL) will:
i. Comply with any Utilities Arrangement.
ii. Carry out the Utilities Works.
iii. Provide the Services (as defined in the Fifth Schedule of the Covenant).
b. The Management Company (EVRCL) will have no liability to the Purchaser for any failure to comply with Paragraph 4a:
i. During any period when the Property Owner/Shareholder is in arrears with payment of any monies due from the Purchaser to the Management Company
ii. The interruption of a Service for reasons of inspection maintenance repair or other works (in which event the Management Company will restore the Service as soon as reasonably practicable)
iii. Failure to provide a Service due to damage breakdown inclement weather
shortage of fuel or water or any other cause beyond the Management Company’s reasonable control (although the Management Company will then take all reasonable steps to restore that Service or (where practicable) provide an alternative Service as soon as reasonably practicable).
iv. Withdrawal of a Service (but not in respect of any Utilities Arrangement) if the Management Company (EVRCL) reasonably considers it no longer appropriate to the extent that the Management Company has insufficient funds
c. If so required by the Property Owner/Shareholder to enforce the covenants and conditions in favour of the Management Company entered into or to be entered into by the purchasers of other Units on the Estate and which are given in the same or similar form to the covenants and conditions contained herein on the part of the Purchaser so far as the same affect the Property Owner/Shareholder and subject to the Purchaser indemnifying the Management Company (EVRCL) against all costs and expenses in respect of such enforcement and (if so required by the Management Company (EVRCL)) giving reasonable security for such costs and expenses
5. Responsibilities of Shareholders/Property Owners
a. Property owners are legally obligated to abide by the terms of the Covenant and are responsible for the actions of their tenants (if applicable). Any infrastructure costs EVRCL incur, other than through fair wear and tear; which can be attributed to a particular property, will be added to that property’s Annual Service Charge, under clause 1.6.21 of the Covenant; “the cost of carrying out any other works or providing services or facilities of any kind whatsoever (but not the Utilities Works) which the Management company may from time to time reasonably consider desirable for the purpose of maintaining or modernising the services or facilities in or for the Estate and which are for the general benefit of all or substantially all of the Units”.
b. Payments of Service Charge
i. The Management Company (EVRCL) will submit to the Purchaser a statement of the Advance Payment for each Service Charge Period which will be estimated by the Management Company (EVRCL) having regard to anticipated Service Costs for that Service Charge Period.
ii. If the estimated Advance Payment for any Service Charge Period is not received by the Purchaser by the date due for payment, then until it has been received the Advance Payment will be paid at a rate equal to the Advance Payment for the immediately preceding Service Charge Period.
iii. The Purchaser will pay the Advance Payment to the Management Company: by equal quarterly instalments in advance on 1 January, 1 April 1 July and October and proportionately for less than a year (the first payment or proportionate payment to be made on today’s date) if requested by the Management Company (EVRCL) by monthly payments by way of Bankers’ Standing Order or Direct Debit or by such other method as the Management Company may reasonably require.