I hereby understand that by entering into this payment arrangement, I agree to strictly adhere to the payment plan instalments and agree to the below terms.
I acknowledge that if I encounter any difficulties in meeting my commitment to make these repayments, I will contact Ostrata. In particular, I acknowledge that in this agreement, time is of the essence and that failure to strictly adhere to the payment arrangement will entitle the Body Corporate to: -
terminates the agreement, whereupon the whole of the debt, or the balance outstanding, shall become immediately due and payable by me to the Body Corporate;
instigate legal proceedings, and to obtain a judgment for the debt, plus any costs of instigating legal proceedings;
I acknowledge that:
All future levies must be paid in full by the due date.
I agree to pay all recovery fees associated with the overdue contributions. I understand once the account has been brought up to date, I will have the ability to complete a Discount/Arrears wavier application form for further committee consideration. If approved, the account can be credited. If declined, the penalties remain my responsibility.
I acknowledge that I will be charged an administration fee of $35 plus GST upfront to my account for the set-up and monitoring of the payment arrangement. This will be applied to my account upon return of the completed application form. If I fail to adhere to the payment arrangement, additional fees may be applied.
Failure to return the application form or attend to full payment will result in further penalties and recovery action against my account.
I acknowledge that should my Body Corporate offer a Discount incentive; all Discounts will be forfeited whilst my account remains in arrears.