PREMIUM STRATA TITLE REPORT .

SYDNEY

587 Bunnerong Road

Matraville NSW 2036

Phone: 1300-363-774

Fax: 1300-365-774

BRANCHES

NEWCASTLE

WOLLONGONG

CAIRNS

TOWNSVILLE

SUNSHINE COAST

MACKAY

GOLD COAST

TWEED HEADS

CLIENT NAME:

Dean & Dean PO Box 169 Mosman NSW 2088

REFERENCE:

Strong (Judy)

STRATA PLAN:

3273

LOT NO(S):

5

ADDRESS:

"Carnarvon" 294-296 Pacific Highway Greenwich 2064

REPORT DATE:

8th December 2017.

INSPECTION DATE:

7th December 2017.

INSTRUCTION NO:

570367

This report contains 17 pages. If you do not receive every page, please call us and we will provide you with any missing pages. For qualifications and exclusions, see the last page of this report.

SMART BUYER INFORMATION

What do you look for when you set out to buy an apartment?

See what the experts say www.strata.com.au/smartbuyer.htm

PREMIUM STRATA TITLE REPORT

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1 STRATA ROLL (Sections 176-178)

1.1 Is there a Strata Roll? Yes

1.2 Current Owners Details

Name:

K & R Strong

Address:

7 South Street Drummoyne NSW 2047

Agent/Nominee (if any):

N/A

1.3 Mortgagee (1)

Name:

Nil

Address:

N/A

Nominee (if any):

N/A

1.4 Other Entries

Type of entry:

Current Agent: First National - Lane Cove 32 Burns Bay Road Lane Cove NSW 2066

1.5 Was the Strata Roll in compliance with the following aspects of Part 10, Division 1?

Particulars of owners recorded Yes

Has provision for lot entries No

Has provision for common property and strata scheme entries Yes

Unit entitlement recorded Yes

Original Owner's name and address recorded No

Strata Managing Agent's name and address recorded Yes

By-laws included therein No

Strata scheme details recorded Yes

Insurance particulars recorded Yes

Section 176 states A strata roll or any other record required to be made or stored by an owners corporation may be made or stored in the form determined by the owners corporation.

Section 177 states: An owners corporation must prepare and maintain a strata roll in accordance with this Division.

Section 178 states: (1) Information about lots The following information must be recorded in the strata roll in relation to a particular lot in the strata scheme:

(a) the name of the holder of the estate in fee simple in the lot (in the case of a freehold strata scheme) or the holder of the leasehold estate in the lot (in the case of a leasehold strata scheme),

(b) an address for service of notices, (c) an Australian postal address, and an email address if the holder has one, if not provided as the address for service, (d) the name of the holder’s agent (if any) appointed in accordance with this Act and the agent’s address for service of notices, (e) information provided under a strata interest notice (f) information provided under a tenancy notice.

(2) Information about common property and strata scheme The following information must be recorded in the strata roll in relation to the common property of the strata scheme and the scheme in general: (a) the strata plan number and the address of the strata scheme building,

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(b) the names of the original owner and any strata managing agent of the owners corporation and their addresses for service of notices, (c) the aggregate unit entitlement of the scheme and the unit entitlement of each lot, (d) particulars of insurance taken out by the owners corporation, including the following:

(i) the name of the insurance company, (ii) the number of the insurance policy, (iii) the nature of the risk insured, (iv) the amount of the insurance, (v) the due date for payment of the premium, (vi) the date on which the premium was last paid,

(e) the by-laws for the time being in force for the strata scheme, (f) if the scheme was registered before the commencement of Part 10 of the Strata Schemes Development Act 2015, whether that Part

applies to the scheme. (3) Sources of information for strata roll

The owners corporation may make or amend entries in the strata roll on the basis of information contained in the Register or provided under a strata interest notice or a tenancy notice (to the extent that information so provided is not inconsistent with information contained in the Register). Information provided under any such notice may be presumed to be consistent with information contained in the Register until the contrary is evident.

2 INITIAL PERIOD

2.1 From entries on the Strata Roll, does the Initial Period appear

to have expired? Yes

The Act defines the initial period as: (a) commencing on the day the owners corporation is constituted, and (b) ending on the day there are owners of lots in the strata scheme (other than the original owner) the sum of whose unit entitlements is at least

one-third of the aggregate unit entitlement.

Section 26(1) states An owners corporation for a strata scheme must not, during the initial period, do any of the following things unless the owners corporation is authorised to do so by an order of the Tribunal under this Division: (a) alter any common property or erect any structure on the common property otherwise than in accordance with a strata development contract, (b) incur a debt for an amount that exceeds the amount then available for repayment of the debt from its administrative fund or its capital works

fund, (c) appoint a strata managing agent or a building manager or other person to assist it in the management or control of use of the common

property, or the maintenance or repair of the common property, for a period extending beyond the holding of the first annual general meeting of the owners corporation,

(d) borrow money or give securities.

Section 140(1) states An owners corporation for a strata scheme must not, during the initial period, change the by-laws so that a right is conferred or an obligation is imposed on one or more, but not all, owners or in respect of one or more, but not all, lots in the scheme.

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3 INSURANCE (Part 9)

3.1 Details of Building Insurance:

Sum Insured $11,810,000.00

Company Allianz Australia Insurance Limited

Policy Number NRSC1700182

Due Date 13th April, 2018

Premium $13,633.97

3.2 Details of Public Liability Insurance

Limits of liability $20,000,000.00

3.3 Details of Workers Compensation Insurance

Has insurance policy? No

3.4 The above details were obtained from Certificate of Currency

3.5 Details of the last valuation obtained A valuation was carried out by A G Thomas Valuers on 6th September, 2017. Recommended cover was $12,160,000.00.

3.6 Is this Property under insured Yes

Section 160(1) states The owners corporation for a strata scheme for the whole of a building must insure the building and keep the building insured under a contract of insurance, in accordance with this Division, that insures the building if it is destroyed or damaged by fire, lightning, explosion or any other occurrence specified in the policy (a damage policy).

Section 160(2) states The owners corporation for each strata scheme for part of a building and any other person in whom is vested an estate in fee simple in part of the building that is not included in the parcel of the strata scheme must insure the building and keep the building insured under a damage policy.

Section 161 requires The damage policy for a building must be with an approved insurer, be in the name of the owners corporation, and any other person required to insure under section 160.

Section 161(a) states The building is to be insured for at least the amount determined in accordance with the regulations.

What other insurance must an owners corporation have in place? Section 164 states (1) An owners corporation must take out the following insurance with an approved insurer, in addition to any other requirements of this Part:

(a) insurance in respect of any occurrence against which it is required by law to insure, including any insurance required by the Workers Compensation Act 1987 and the Workplace Injury Management and Workers Compensation Act 1998 to be taken out,

(b) insurance in respect of damage to property, death or bodily injury for which the owners corporation could become liable in damages, (c) insurance against the possibility of the owners becoming jointly liable because of a claim arising in respect of any other occurrence

against which the owners corporation, in accordance with a special resolution, decides to insure, (d) insurance against any damages for which the owners corporation could become liable because, without fee or reward or any

expectation of fee or reward, a person acting on behalf of the owners corporation does work in a building or on the common property in the strata scheme,

(e) insurance of any other class prescribed by the regulations for the purposes of this subsection. (2) Insurance taken out in accordance with subsection (1) (b) must be for a cover of not less than $10,000,000 for each event for which any

claim or claims may be made or, if the regulations provide for another amount, that other amount. (3) The regulations may provide that the amount is to be calculated or determined in the manner prescribed by the regulations.

With respect to Section 164(2) Clause 40 of Strata Schemes Management Regulations 2016 states For the purposes of section 164 (2) of the Act, the minimum insurance cover for the purposes of damage to property, death or bodily injury for which the owners corporation could become liable in damages is $20,000,000.

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4 DOCUMENTATION RETENTION (Section 180)

4.1 Period(s) of correspondence sighted at this inspection? October 2009 to November 2017

If not presented as required by the Act, (7 years) name of person asked to provide missing records and their reason for non-presentation

N/A

4.2 Are notices of the Owners Corporation and Executive

Committee Meetings retained for the prescribed period? Yes

4.3 Are proxies retained for the prescribed period? No

4.4 Are voting papers retained for the prescribed period? No

4.5 Are records served under Section 55 retained for the

prescribed period? No

4.6 Are Notices given under Section 22 retained for the

prescribed period? No

4.7 Are minutes of meetings kept and retained for the

prescribed period? Yes

Date of first minutes made available for inspection A.G.M. 24/10/2006

Date of last minutes made available for inspection Committee Meeting 15/8/2017

Section 180 states (1) An owners corporation must cause the following to be retained for 7 years:

(a) any records, notices and orders required to be kept under this Division or Part 10 of the Strata Schemes Development Act 2015, (b) minutes of meetings required to be kept under Schedule 1 or Schedule 2, (c) its financial statements and accounting records, (d) copies of correspondence received and sent by the owners corporation, (e) notices of meetings of the owners corporation and its strata committee, (f) proxies delivered to the owners corporation, (g) voting papers relating to motions for resolutions by the owners corporation and to the election of officers or the establishment of a strata

renewal committee (under Part 10 of the Strata Schemes Development Act 2015), (h) a copy of any signed strata managing agent agreement or building manager agreement entered into by the owners corporation, (i) records given to the owners corporation by the strata managing agent relating to the exercise of functions by the agent, (j) any other documents prescribed by the regulations for the purposes of this section.

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5 BOOKS OF ACCOUNT (Section 96)

5.1 Are substantially all of the prescribed accounting

records maintained by or on behalf of the Owners Corporation?

Yes

5.2 If so, who keeps the books of account? The Managing Agent

5.3 What was the approximate balance of the

Administrative Fund? $22,169.32 credit, as at 6/12/2017

5.4 What was the approximate balance of the Capital

Works Fund? $54,047.53 credit, as at 6/12/2017

5.5 How were these approximate balances ascertained? A Balance Sheet

Section 96 states (1) An owners corporation must keep accounting records in accordance with this Division. Maximum penalty: 5 penalty units. (2) The accounting records may be made and stored in the form determined by the owners corporation. (3) Separate accounting records must be kept for the administrative fund, the capital works fund and any other fund kept by the owners

corporation. (4) The regulations may prescribe accounting records that are required to be kept by an owners corporation.An owners corporation must keep

the accounting records prescribed by the regulations.

Reg.22 (SSMR 2016) The accounting records required to be kept for the purposes of section 96 (4) of the Act are as follows: (a) receipts consecutively numbered, (b) a statement of deposits and withdrawals for the account of the owners corporation, (c) a cash record, (d) a levy register.

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6 MAINTENANCE CONTRIBUTIONS (Section 81)

6.1 Contributions are payable in unequal quarterly installments, commencing 1/5/2017, as follows:

To the Administrative Fund $416.90 due 1/5/2017 and 1/8/2017

$698.00 due 1/11/2017 and 1/2/2018

$557.50 due 1/5/2018

To the Capital Works Fund $394.00 due 1/5/2017 and 1/8/2017

$126.20 due 1/11/2017 and 1/2/2018

$260.20 due 1/5/2018

Do these contributions appear to have been correctly determined

Yes

If not, in what respect does the determination appear to be defective?

N/A

6.2 Last Increase in levies: Unable to ascertain

6.3 Are there any current special levies? No

Fund N/A

Total Amount N/A

Amount Payable by the Subject Lot N/A

Due Date N/A

Purpose N/A

6.4 Is there any proposal for special levies in

the near future? No

Fund N/A

Amount N/A

Due Date N/A

Purpose N/A

7 FINANCE AND LOANS

7.1 Does it appear that loans or finance has

been raised or sought by the Owners Corporation ?

No

Details of finance /loans raised or sought N/A

Administrative Fund Section 73(1) states An owners corporation must establish an administrative fund.

Section 73(4)(f) allows the transfer of money to the capital works fund or to pay expenditure that should have been paid from the capital works fund.

However; Section 76(2) states The owners corporation must, not later than 3 months after the transfer or use, determine the amount to be levied as a contribution to the fund from which the transfer or use was made to reimburse the amounts paid from the fund. Section 81 (3) and (5) apply to a contribution determined

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under this subsection.

Capital Works Fund Section 74(1) states An owners corporation must establish a capital works fund.

Section 74(4)(d) allows the transfer of money to the administrative fund or to pay expenditure that should have been paid from the administrative fund.

However; Section 76(2) states The owners corporation must, not later than 3 months after the transfer or use, determine the amount to be levied as a contribution to the fund from which the transfer or use was made to reimburse the amounts paid from the fund. Section 81 (3) and (5) apply to a contribution determined under this subsection.

Levy Contributions Estimates to be prepared of contributions to administrative and captial works funds Section 79 states (1) An owners corporation must, not later than 14 days after the constitution of the owners corporation and at each annual general meeting

after that, estimate how much money it will need to credit to its administrative fund for actual and expected expenditure: (a) to maintain in good condition on a day-to-day basis the common property and any personal property vested in the owners corporation,

and (b) to provide for insurance premiums, and (c) to meet other recurrent expenses.

Note. Recurrent expenses would include such regular expenses as insurance, water charges, electricity charges, carpet cleaning, lawn mowing services and the like and minor expenses relating to maintenance of the common property. (2) An owners corporation must, at each annual general meeting, estimate how much money it will need to credit to its capital works fund for

actual and expected expenditure: (a) for painting or repainting any part of the common property which is a building or other structure, and (b) to acquire personal property, and (c) to renew or replace personal property, and (d) to renew or replace fixtures and fittings that are part of the common property, and (e) to replace or repair the common property, and (f) to meet other expenses of a capital nature.

Note. Expenses of a capital nature would include expenses in relation to major repairs or improvements to the common property or personal property of the owners corporation, such as replacement of roofing, guttering or fences and the like. (3) When estimating amounts needed to be credited to the administrative fund or the capital works fund, the owners corporation must have

before it, and take into account, a statement of the existing financial situation of the strata scheme and an estimate of receipts and payments.

(4) An estimate prepared before the first annual general meeting of an owners corporation is to take into account the initial maintenance schedule provided by the original owner for that meeting.

(5) In estimating amounts to be credited to the capital works fund, an owners corporation is to take into account anticipated major expenditure identified in the 10-year plan for the capital works fund proposed under this Division.

(6) An owners corporation of a large strata scheme must include in the estimates prepared at an annual general meeting: (a) specific amounts in relation to each item or matter on which the owners corporation intends to spend money, or on which the owners

corporation is aware money will be likely to be spent, in the period until the next annual general meeting, and (b) a note as to any difference between the estimates and the 10-year plan for the capital works fund prepared under this Division and the

reasons for the difference.

Owners corporation to set contributions to administrative and capital works funds Section 81 states (1) The owners corporation must determine the amounts to be levied as a contribution to the administrative fund and the capital works fund to

raise the amounts estimated as needing to be credited to those funds. (2) That determination must be made at the same meeting at which those estimated amounts are determined. (3) The owners corporation must levy on each person liable for it such a contribution. (4) If the owners corporation is subsequently faced with other expenses it cannot at once meet from either fund, it must levy on each owner of

a lot in the strata scheme a contribution to the administrative fund or capital works fund, determined at a general meeting of the owners corporation, in order to meet the expenses.

(5) A contribution is, if an owners corporation so determines, payable by the regular periodic instalments specified in the determination setting the amount of the contribution.

Section 83(2) states Contributions levied by an owners corporation must be levied in respect of each lot and are payable (subject to this section and section 82) by the owners in shares proportional to the unit entitlements of their respective lots.

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8 BY-LAWS (Part 7)

8.1 Do the records suggest that the By-laws

have been changed or added to in the past two years?

No

If so, does it appear that these changes or additions have been registered?

N/A

If not particulars are N/A

8.2 Were any exclusive use By-laws registered in

the past two years affecting the subject Lot? No

If so, particulars are N/A

8.3 What is the attitude of the Owners Corporation to the keeping of animals?

Committee Meeting 24/1/2013: Approval NOT granted for Lot 3 to keep a dog. The committee did not want to allow dogs due to potential issues with noise/barking and soiling common property.

By-laws that apply to strata schemes Section 134 states (1) New strata schemes The by-laws in force for a strata scheme that came into existence after the commencement of this section are the by-laws adopted by or lodged with the strata plan registered by the Registrar-General for the strata scheme, as changed in accordance with this Act. (2) Strata schemes 1997 to commencement of section The by-laws in force for a strata scheme that came into existence after the commencement of the Strata Schemes Management Act 1996 and before the commencement of this section are the by-laws adopted by or lodged with the strata plan registered by the Registrar-General for the strata scheme, including any changes to the by-laws made in accordance with that Act or in accordance with this Act. Note. The Strata Schemes Management Act 1996 commenced on 1 July 1997. (3) Strata schemes before 1996 The by-laws in force for a strata scheme that was in existence before the commencement of the Strata Schemes Management Act 1996 are the by-laws set out in the regulations for the purposes of this section, including any changes to the by-laws made in accordance with a previous law or in accordance with this Act.

Note. Section 8 of the Strata Schemes (Freehold Development) Act 1973 and section 7 of the Strata Schemes (Leasehold Development) Act 1986 require that when a strata plan is submitted for registration it must be accompanied by the proposed by-laws for the strata scheme. Those by-laws are registered with the strata plan.

Procedure for changes to by-laws Section 141 states (1) An owners corporation may, in accordance with a special resolution of the owners corporation, change the by-laws of the strata scheme. (2) A change to the by-laws of a strata scheme has no effect until: (3) The secretary of the owners corporation must keep a consolidated up to date copy of the by-laws for the strata scheme. (4) A notification cannot be lodged in the Registrar-General’s office more than 6 months after the passing of the resolution to make the by-

law.

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9 MANAGING AGENT (Sections 49 and 237)

9.1 Is there a Managing Agent? Yes

9.2 Agents Name Whelan Property Group Pty Ltd

Agents Telephone 9219-4111

Appointed under what Section? 27

Was a written Agency Agreement sighted? Yes

Was a License issued under the Property Stock and Business Agents Act 2002 in the name of the Agent sighted?

Yes

Date of last appointment? 24th June, 2013

How is a strata managing agent appointed? Section 49(2) states The appointment is to be made by instrument in writing authorised by a resolution at a general meeting of the owners corporation.

Section 237 Orders for appointment of strata managing agent.

10 TITLE DEED

10.1 Was the Original Certificate of Title for the

Common Property sighted? No

If not, why not? Reason not known

11 INCOME TAX

11.1 Does the Owners Corporation appear to

receive taxable income? Yes

What is the source of that income? Interest on invested funds and fees under Sections 183 and 184

Are Income Tax Returns lodged Yes

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12 GENERAL INFORMATION

12.1 Number of Lots in the Strata Plan: 60

12.2 Number of Units in the building 30

12.3 Unit of Entitlement of the subject Lot(s): 65

12.4 Aggregate Unit of Entitlement 2,405

12.5 Approximate number of tenanted Units: Unable to ascertain

12.6 State of harmony in the building: Some recent By-law infringements relating to

noise, rubbish, behaviour and parking.

12.7 When was the Strata Scheme Registered? 23rd April, 1968

12.8 Who is the Original Owner? Unable to ascertain

12.9 When was the First Annual General Meeting held? Unable to ascertain

NOTE: Generally, the original owner means the person by whom the parcel the subject of that scheme was held in fee simple at the time of registration of the strata plan to which the scheme relates. The original owner must convene and hold a meeting of the owners corporation within 2 months of the expiration of the initial period. This meeting is known as the First Annual General meeting

13 PLUMBING PROBLEMS

Year ended April 2004: Plumbing repairs $3,965.00.

Year ended April 2005: Plumbing repairs $2,267.00.

Year ended April 2006: Burst pipes (Unit 15) $3,889.00.

Year ended April 2012: Plumbing repairs $2,565.00.

Year ended April 2015: Plumbing repairs $4,526.00.

Year ended April 2016: Plumbing repairs $7,343.00.

Year ended April 2017: Plumbing repairs $7,788.00.

May to December 2017: Plumbing repairs $14,656.00.

14 HISTORY OF DISPUTES

No evidence of any in recent years

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15 WATER PENETRATION PROBLEMS

1991: Repairs to car park 3 $53,852.00 (re water penetration).

Council Meeting 23/3/94: Resolved to defer for the time being any further work on the car park as this further work is not guaranteed to solve the water penetration problem.

Year ended April 1994: Waterproofing to the second floor of car park area $16,322.00.

Year ended April 1997: Water penetration (Balcony Unit 19) $2,250.00.

Year ended April 1999: Water penetration and shower $2,760.00.

Year ended April 2011: Roof repairs $3,080.00.

16 BUILDING DEFECTS & OTHER MATTERS

Particulars of matters discovered from the books and records generally which may adversely affect either the Company or the Subject Unit(s) from the point of view of the Purchaser or Mortgagee, or which otherwise may be of interest to the Purchaser or Mortgagee, are:

See attached extract from a Sinking Fund Forecast dated May 2008 prepared by Leary & Partners.

See attached summary dated 31/10/2011 from building condition report by Landlay. (No access gained to Unit 5).

See attached extract from asbestos report dated 7/3/2013 prepared by Sageview.

A.G.M. 15/6/2015: See attached Minutes regarding general business.

A.G.M. 11/7/2016: Resolved to install CCTV for cost not exceeding $4,000.00. (See attached Minutes)

See attached Annual Fire Safety Statement. (NOTE: A 2017 Statement was not sighted).

See attached quote dated 16/6/2017 of $16,610.00 from DMB Painting.

See attached quote dated 29/6/2017 from Integrated Fire Solutions.

Sighted Email dated 21/9/2017 reporting possible leak in Unit 11.

See attached Chairman's letter dated August 2017.

A.G.M. 15/8/2017: Resolved to re-appoint Managing Agent.

Resolved to install window safety devices, where required, before March 2018.

Resolved to authorise the Strata Committee to review the By-laws.

Resolved to accept quote $16,610.00 from DMB Painting to paint common area hallways.

See attached Minutes regarding accepted budgets and other matters.

Committee Meeting 15/8/2017: See attached Minutes regarding election of Office Bearers.

STRATA ROLL: The Managing Agent maintains the Strata Roll in a computerised format. Only a copy of the common property page and the pages relevant to Lot 5 were provided for inspection.

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17 HISTORICAL INFORMATION

The following historical information concerning the Company and the building generally is made available on the basis that it may be of interest to the Purchaser or Mortgagee:

1982: A bush rock retaining wall was built at the rear of the property beside Council access to drainage pipes, at a cost of $2,590.00. Magnesite hump under carpet on hallway floors 1 and 2 was removed, at a of $900.00.

Council Meeting 5/6/84: Permission granted to Unit 18 to retain shutters on the basis that they are covered at all times by the curtains. Permission to install Solar Shield was denied.

1985: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 9/4/85: Delegate of the Strata Titles Commissioner advised the Body Corporate that the Proprietors of Lots 55-60 are responsible for the maintenance of the roof of those carports.

Council Meeting 4/6/85: Noted that repairs to the car port roof had been carried out and that all future repairs to the car port, except for the upright supports, shall be the responsibility of individual owners.

E.G.M. 12/6/85: Proposed erection of car ports on Lots 31 and 32 by the Proprietor of Units 18 and 26. Permission granted, subject to obtaining comments and opinions from concerned proprietors.

Council Meeting 30/7/85: Two objections received re the erection of a car port by Unit 26 but Council has no objection to erection of carport if satisfactory settlement can be achieved between the Proprietors concerned.

Year ended April 1986: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 24/3/87: Noted cracks in walls of Unit 25 and cracks in hallway area of 6th floor have been repaired.

Year ended April 1987: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 24/11/87: Security area, second floor car park: Project abandoned due to insufficient support of lot owners.

Year ended April 1988: No evidence of any major or extraordinary expenditure in the records inspected.

Year ended April 1989: No evidence of any major or extraordinary expenditure in the records inspected.

1989: Repairs to windows $3,595.00. Inspection of (car park No. 3) $2,206.00.

Correspondence dated 29/8/90 from the Local Council refers to noise emanating from air conditioning units in the building.

1990: No evidence of any major or extraordinary expenditure in the records inspected.

1990/91: No evidence of any major or extraordinary expenditure in the records inspected.

1991: Excess water $2,032.00.

Year ended April 1992: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 16/3/93: A letter was sent to Mahaffey Associates requesting that the car park be finalised as soon as possible. (This relates to flooding/water penetration of the car park area. Other works included repair of spalling and cracking.)

Year ended April 1993: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 10/8/93: Noted fax to Andersal Engineering dated 12/7/93 confirming quotation of $11,935.00. (It appears that this was for further works to complete job satisfactorily.)

Council Meeting 5/10/93: It was agreed that driveway repairs be put on hold.

Council Meeting 23/3/94: Agreed that the installation of individual safety switches in the laundry would not be effective and the installation of a light on the 1st level car park was not warranted.

Year ended April 1994: No evidence of any major or extraordinary expenditure in the records inspected.

July 1994 to January 1995: No evidence of any major or extraordinary expenditure in the records inspected.

Council Meeting 14/3/95: Agreed to rescind the motion passed at Council Meeting held on 17/1/95 to levy a fee

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on garbage removal for tenanted units.

NOTE: Expenditure records for the period February 1995 to April 1995 were not sighted.

Council Meeting 9/5/95: Further resolved that the refurbishment to internal areas, in accordance with submission, be adopted and a special levy be imposed.

Council Meeting 23/8/95: Following discussion it was agreed that the priority for works on the building would be basic maintenance, internal upgrade and external upgrade.

Resolved to rescind special levy of approximately $2,000.00 per unit and increase the Sinking Fund levy to $20.00 per unit of entitlement from 1/11/95.

Year ended April 1996: Tree removal $2,235.00. Structural repairs $7,518.00.

Year ended April 1997: Fans $2,969.00. Letter boxes $2,058.00. Lighting $2,744.00.

E.G.M. 31/3/98: Resolved to create an additional special By-law granting the owners of Units 50 and 51 exclusive use of parts of the common property adjoining their respective car spaces.

Year ended April 1998: Bin area $27,049.00. Consultant fees 2,955.00.

Year ended April 1999: Repairs and maintenance $4,300.00.

E.G.M. 3/4/2000: A special levy of $12,000.00 was imposed for magnesite replacement due 1/5/2000.

Year ended April 2000: Repairs and maintenance $6,530.00. Magnesite repairs $7,200.00. Timber frame bin area $4,530.00. Consultant fees were $2,313.00. General replacements $2,045.00. External painting $7,500.00.

Sighted Building Maintenance Plan dated 27/2/2001 from McDonell Somers & Partners regarding areas of concrete spalling.

Year ended April 2001: Repairs and maintenance $4,548.00. Tree removal $2,035.00. External painting $8,150.00. Carpeting and flooring $23,744.00.

Executive Committee Meeting 13/12/2001: Resolved to accept quote from Andersal to repair outside spalling. (Amount not stated).

Executive Committee Meeting 17/1/2002: Railings in Units 4, 11, 12, 16, 21, 23, 27 and 30 to be replaced at of $510.00 per unit.

Ceiling cracks in Unit 30 to be repaired.

Executive Committee Meeting 28/3/2002: Resolved that a letter be sent to the owners of Lots 1 and 2 confirming their request that no remedial work be carried out on the magnesite in their units.

Instructions were given to builder to replace Unit 30 balcony rails.

Wall cracks: It was noted that there is no provision under the Act for the Owners Corporation to repair internal walls.

Sighted correspondence dated 2/4/2002 from Managing Agent to Remedial Building Services requesting they repair electrics on bridge walkway and lamp under warranty.

Year ended April 2002: Repairs and maintenance $3,326.00. Structural repairs $19,755.00. Landscaping $3,496.00. Carpeting and flooring $2,013.00.

A.G.M. 25/6/2002: Resolved that a special levy of $42,000.00 be imposed for essential structural repairs, payable in quarterly installments commencing 1/8/2002. (Appears to include window sills, carport, building spalling, balcony spalling and balcony railings).

Sighted correspondence dated 22/11/2002 from Chapman Hutchison Pty. Ltd. regarding immediate items of concern including window sills, corner of laundry slab is suffering excessive movement.

Sighted quote dated 11/4/2003 of $15,900.00 from Chapman Hutchison Pty. Ltd. regarding carport repairs.

Sighted correspondence dated 17/4/2003 from the Managing Agent to the engineer regarding breakdown of major works as follows:

* Levels 2 and 3 of the car park

* Balcony work

* Underside of drying room and undercroft.

Year ended April 2003: Magnesite repairs (Unit 2) $5,126.00. Professional fees were $3,540.00. Magnesite

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removal (Unit 5) $6,710.00. Magnesite removal (Unit 1) $2,395.00. Insurance claims $4,013.00.

E.G.M. 16/6/2003: Noted that of the $42,000.00 special levy imposed in 2002, $14,300.00 has been spent on magnesite repairs and $17,500.00 was a provision taken out to rectify the car park roof which was rusting.

A.G.M. 30/6/2003: Resolved not to impose a special levy of $209,714.00 to cover the cost of structural and cosmetic repairs. Works to be completed in three stages:

Stage 1: Repairs to lower level car park and construct a brick pier under the laundry area: $43,244.00.

Stage 2: Complete upper level car park waterproofing and new concrete topping, plus spalling repairs to the underside of the concrete stairs between the footpath and car park: $61,544.00.

Stage 3: Complete repairs to window sills, balconies and repairs to the underside of the building: $104,926.00.

Year ended April 2004: Building maintenance $4,691.00. Structural repairs $7,632.00. Concrete beam repairs $17,979.00. Bridge/walkway repairs $4,927.00. Electrical repairs (walkway) $2,984.00. Consultant fees were $6,350.00. Ventilation $2,049.00.

A.G.M. 9/8/2004: Resolved to impose a special levy of $45,000.00 to cover the of remedial works to the car slab, balconies, ongoing maintenance to shower trays and pipes, payable in two instalments on 1/10/2004 and 31/1/2005.

E.G.M. 13/10/2004: Resolved to create a By-law to allow the enclosure of balconies, subject to certain conditions.

Noted that the motion to impose a special levy of $50,000.00 to cover the of car park slab repairs was defeated.

Agreed to approve Option 2 works for $23,480.00. (NOTE: Appears to include filling of cracks).

Year ended April 2005: Electrical maintenance $2,722.00. Insurance claims amounted to $4,301.00. Capital works $6,697.00. Building repairs $44,844.00.

A.G.M. 17/10/2005: Resolved that all locks, catches and handles be maintained by the individual owner. Agreed to form a resolution to this effect to lodge on title.

Year ended April 2006: Painting (hallways) $2,845.00. Car park works $18,771.00.

Year ended April 2007: Painting (foyers and doors) $2,545.00. Painting (balconies) $2,436.00. Repairs and maintenance $6,957.00. Smoke detectors $3,181.00. Lighting $4,510.00. Emergency lighting $2,273.00.

Sighted correspondence dated 3/8/2007 from Allan Cameron to the owner of Unit 11 requesting that a retrospective application be submitted to renovate their kitchen. It appears that the owner removed an internal wall during these works.

Sighted report dated 23/1/2008 report from Laby Building Pty Ltd with regard to Unit 28 magnesite and spalling along North East wall due to water penetration.

Year ended April 2008: General repairs and maintenance $3,243.00. Spalling (Unit 28 bedroom) $2,608.00. Spalling repairs and roof $2,552.00.

Year ended April 2009: Replace 18 window sills $5,490.00. Driveway crossover $6,394.00. General repairs and maintenance $12,554.00.

Year ended May 2010: Sundry repairs and replacement $2,450.00. Landscaping $3,134.00.

E.G.M. 22/6/2010: Resolved to create an additional By-law - Works Lot 15. (Appears to have been registered under Dealing No. AF607143).

Year ended April 2011: General repairs $3,939.00. Exhaust/ventilation $10,298.00. General replacement $6,772.00. Landscaping $4,500.00.

Y

ear ended April 2012: General replacement $3,458.00.

A.G.M. 29/10/2012: Resolved to create an additional By-law - Electronic service of documents. (Appears to have been registered under Dealing No. AH403590).

E.G.M. 13/11/2012: Resolved to approve tender of $254,507.00 for remedial works.

NOT resolved to sell land of approximately 146 sqm sub area at rear of property for construction of a residential unit.

Resolved to impose a special levy of $55,000.00 for remedial works payable in two installments on 1/12/2012 and 1/2/2013.

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Year ended April 2013: General replacement $13,167.00.

A.G.M. 24/6/2013: Specially resolved to approve installation of garbage area enclosure.

Sighted quote dated 30/7/2013 of $205,010.00 plus GST from Remedial Building Services for remedial works to the car park, fencing, new drainage and treatment of concrete deck.

E.G.M. 11/11/2013: Resolved to approve tender from MDP Waterproofing.

Year ended April 2014: General repairs $2,898.00. Rectification $68,631.00. General replacement $30,095.00. Legal fees $2,392.00.

A.G.M. 10/6/2014: Resolved to approve installation of air conditioner Lot 6 subject to approval of a By-law. (Registered under Dealing No. AJ112672 on 15/12/2014).

E.G.M. 15/9/2014: Resolved to create an additional By-law - Lot 6 air conditioner.

Year ended April 2015: Rectification $251,942.00. General replacement $7,651.00. Consultant fees $7,600.00.

Year ended April 2016: Painting $7,855.00. Fire protection replacement $45,590.00. Electrical repairs $16,006.00. General repairs $8,877.00. General replacement $9,202.00.

Year ended April 2017: General replacement $12,037.00. General replacement $9,396.00.

May to December 2017: General repairs $3,208.00. General replacement $25,705.00.

NOTE: Expenditure under $2,000.00 has not been covered in this report.

PURCHASERS STRATA INSPECTIONS PTY. LTD. QUALIFICATIONS AND EXCLUSIONS 1. During the course of the subject inspection no attempt was made to ascertain whether any Managing Agent has complied with the

detailed accounting requirements of the Property, Stock and Business Agents Act 2002 or whether the prescribed accounting and prescribed financial statement requirements are being complied with by the Owners Corporation. As these requirements are particularly complex, an additional inspection by a specially trained Inspector would be necessary before we could report on these matters.

2. The information contained in this Report was extracted from the books and records of the Owners Corporation and, so far as was

possible, from conversations with officers of the Owners Corporation. Special procedures were followed to minimise the possibility of records not being made available for inspection and this information has, where possible, also been checked with information obtained from previous inspections. However, your attention is directed to the possibility that all of the records of the Owners Corporation may not have been made available for inspection, or alternatively, that the records may not have contained all of the information of interest to a Purchaser or Mortgagee.

3. This report format was designed by Purchasers Strata Inspections Pty. Ltd. for use by it exclusively and it owns the copyright. No other

person has authority to use this report format in whole or in part for any purpose. 4. This report is issued to the named client and if that person is a solicitor or conveyancer, the client of that solicitor or conveyancer.

Purchasers Strata Inspections Pty. Ltd. will not accept any responsibility to any other person who relies upon this report to their detriment, unless it has agreed in writing to accept such responsibility.

© COPYRIGHT RESERVED: Purchasers Strata Inspections Pty. Ltd. 1976-2016

TAX RECEIPT

TO: Dean & Dean PO Box 169 Mosman NSW 2088

Account in relation to :

Account No.: 21639

Instruction No.: 570367

Strata Plan No.: 3273

Report Date: 8th December 2017.

Your Reference: Strong (Judy)

Account details & disbursements:

Inspection Report: $250.00

Fee to Scheme $34.10

Photocopies/Attachments (as charged to PSI)

$34.10

Scanning/printing/handling fee $10.00

Mileage: $0.00

Complex computer records $88.00

Toll Fees and Parking Charges: $14.00

Total includes GST of: $39.11

Total PAID: $430.20

Receipt No. 103113