Notes:
Company
Memorandum of Association (what the company can do)
a)
To carry into effect ..the terms of the lease [3(A)]
b)
To administer and deal with lands buildings.[3(B)]
c)
To acquire, invest in any property, erect buildings [3(C)]
Company
Articles of Association (rules)
a)
Share shall only be owned by the owner of a flat. Joint owners
hold a share jointly. [11]
b)
The members of the company shall from time to time and
whenever called upon to do so by the Company each pay a 1/30th
part of all losses and expenses properly incurred by the Company
under the Head Lease or under any document dealing with the
Ownership of a Flat to which it is a party or (without prejudice
to the generality of the forgoing) otherwise in relation to the
property.[ 13]
The Lease
Between Company (Lessor), The Freeholder “(The Developer)”
and owners (Lessee)
a)
Lessee to pay Ground rent £65 per flat per year payable from 24
June 1996 to 24 June 2035 (Total £1,950) to The Developer [1]
b)
Lessor to keep a Management Fund for the purposes of repairs
management and other expenses in connection with the property. [7]
c)
Management Fund to be used only for:- items relating to covenants
(except tax), fees of Agent if appointed, own fees if company
manages property [7]
d)
Accounts to be produced at least once a year of Management Fund.
[7]
e)
Owners liable for all internal repairs and own car park spaces.
Company all common areas, roofs, and window frames but not
individual flats glass. [Third Schedule]
f)
Lessee to pay £100 (or such sum as demanded by the Lessor) in
advance in equal quarterly payments on the usual quarter days.
Outstanding sums to be liable to interest at base rate plus 2% [Sec
6,15,1]
g)
Lessor can demand additional fund with 28 days notice [sec 6,15 2]
h)
Lessor shall maintain exterior walls and structure and frames of
exterior windows, gutters, rainwater pipes, boundary fences [Sec
7,1,a]
i)
Lessor shall maintain communal TV aerial, drains cables etc. {sec
71,b]
j)
Lessor shall maintain common passages, staircases, floor
coverings and other common parts [Sec 7,1,c]
k)
Lessor shall maintain drying area and equipment [Sec 7,1,d]
l)
Lessor shall keep clean and lighted main entrances, car parking
spaces [Sec 7,3]
m)
Lessor shall keep insured all buildings in joint names of all
interested parties including public liability [Sec 7,4]
n)
Lessor shall arrange for the disposal of rubbish deposited by the
Lessees in the dustbin enclosure provided. [Sec 7,9]
o)
Lessor shall pay the rent [Sec 7,10]
p)
Accounts to be audited by a competent accountant [Sec 7, 12]
q)
No washing to be hung in the gardens [Sec 8,3]
r)
Lessee needs consent from Lessor to keep a pet [Sec 8,4]
s)
Lessor not to erect or permit to be erected any external wireless
or television aerial [Sec 8,5]
t)
Lessee to clean windows at lease every month {Sec 8, 14]
u)
Lessees of ground floor flats to keep grass mown, may construct
small flower beds if kept tidy [Sec 8,19]
v)
Lesses not to fasten back common doors [Sec 8, 20]