Schedule 6: Defined Terms

In this Lease:

“Accounting Year” means each annual period commencing on [●] or such other date as the Society may from time to time determine and notify to the Member

‘Accessways’ means any pedestrian ways forecourts or drives entrances halls staircases landings lifts or corridors now or hereafter constructed within the Development

‘Base Valuation Date’ means [ ]

“Communal Facilities” means party walls, fences, gutters, drains, roadways, pavements, entrance ways, staircases, lavatories, accessways, passages, lifts, escalators, turntables, courtyards, external paviours, car parks and service or loading areas, service roads, play area and other such amenities which are or may be used or enjoyed by an occupier of the Premises in common with any other person or persons.

“Development” means all the land belonging to the Society and comprised in the title number as set out in clause LR2.1 of this Lease and which is shown edged blue on Plan 2

“Equity Share” the Member’s equity share which at the date of commencement of this Lease shall be £[ ] being [ ] Units of £1 each.

‘Development Roads’ means the roads footpaths and verges now or hereafter constructed within the Development

“Initial Monthly Charge” means: £[●] which is made up of

£[●] for the Member’s contribution to cost of management, maintenance and insurance of the Premises and the Communal Facilities (including contribution to any sinking fund) and provision of mains services more fully described in clause 5 of this Lease; and

£[●] contribution towards the Society’s mortgage and loan repayments.

“Society” includes all persons from time to time entitled to the immediate reversion to this Lease.

“Lease” includes this Lease any documents supplemental to it

“Member ” includes the Member ’s successors in title and assigns in whom this Lease may for the time being be vested.

“Monthly Charge” the Initial Monthly Charge until the first date for review set by Schedule 4 and after each review means the sum ascertained in accordance with Schedule 4.

“Outgoings” means all existing and future rates, taxes, charges, assessments, impositions and outgoings whatsoever (whether parliamentary or local) which are now or may at any time be payable, charged or assessed on Premises, or the owner or occupier of Premises including for the avoidance of doubt in respect of the Services.

“Plan” means a plan attached to this Lease and reference to “Plan” followed by a number means a Plan so numbered

“Premises” means the premises described in Schedule 1.

“Schedule of Condition” means the photographic schedule attached to this Lease at Appendix 1.

“Services” means water, gas, soil, effluent, electricity, telecommunications, surface water drainage, foul drainage, fuel oil, television, alarms and any other or similar services that may be reasonably specified by the Society

“Service Media” means drains, sewers, Service Media, flues, gutters, gullies, channels, ducts, shafts, watercourses, pipes, cables, wires, mains, electrical risers, aerials and any other conducting media.

“Term” means the term of [●] years from and including the date of this Lease.

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