11 If clause 13.5.

7 applies and the relevant Existing Home outside the Demolition Phase is a
House, the Council shall transfer its freehold interest in that Existing Home with vacant
possession to the Buyer (or such Purchase Company as the Buyer shall nominate) for nil
consideration in accordance with paragraphs 1 and 3 of this Schedule 9 (save where the
Buyer elects not to take a transfer).

1.2 The Council shall transfer the relevant Existing Home with full title guarantee.

1.3 The form of transfer shall be based on the form of transfer annexed to the Standard Purchase
Contract. The Parties shall seek to agree the actual form of the transfer as soon as possible
after the relevant Secure Tenant has surrendered his interest in the relevant Existing Home
("the Surrender Date). In the event that the Parties have not reached agreement on form of
transfer within 10 Working Days of the Surrender Date then either Party can refer the matter
to
L
determined
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+ uti L c t,,c,uzThe shall edetermine
matter in question within 10 Working Days of being appointed.
2 Leasehold Grant

2.1 If clause 13.5.7 applies and the relevant Existing Home outside the Demolition Phase is not a
House, the Council shall grant a new lease in that Existing Home with vacant possession to
the Buyer (or such Purchase Company as the Buyer shall nominate) for nil consideration in
accordance with paragraphs 2 and 3 of this Schedule 9 (save where the Buyer elects not to
be granted a new lease).

2.2 The Council shall grant the new lease of the relevant Existing Home with full title guarantee.

2.3 The Parties acknowledge that the form of each such lease shall be based on the form of
Councils right to buy lease that is current on the Surrender Date with the provisions relating
to the Housing Act 1985 and restrictions on alienation removed.

2.4The Parties acknowledge that the form of each such lease shall contain the following
minimum criteria:

2.4.1 the term of the lease shall be 125 years;

2.4.2 the lease shall be assignable without restriction by the tenant;

2.4.3 the L ease shall comply with the requirements of the Council of Mortgage L enders Handbook
from time to time in force, or such other substituted or generally accepted set of
comprehensive instructions for conveyancers acting on behalf of lenders in residential
conveyancing transactions; and

2.4.4the annual rent reserved by the lease shall be 10.

2.5 The form of lease will also differ to cater for site specific or estate management issues that
affect the relevant Existing Home, including (without limitation):

2.5.1 the location, nature and extent of the demised premises and the common parts;
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Schedule 9
2.5.2 the rights granted and reserved.
2.6 An example of a lease that meets these criteria on the date of this Agreement is contained in
Schedule 15.
2.7 The Parties shall seek to agree the actual form of lease as soon as possible after the
Surrender Date. In the event that the Parties have not reached agreement on the form of
lease within 10 Working Days of the Surrender Date then either Party can refer the matter to
be determined by reference to clause 40.4. The Expert shall be required to determine the
matter in question within 10 Working Days of being appointed.
3 Sale and Purchase
3.1 Terms
3.1.1 The "CompletionDate"
for the purposes of this Schedule shall be the date that is 10 Working
Days after the date on which the form of transfer or lease (as appropriate) is agreed or
determined in accordance with this Schedule.
3.1.2 "Actual Completion"
for the purposes of this Schedule shall be the completion of the sale
and purchase of the Existing Home whether or not it takes place on the Completion Date
(referred to in the Standard Conditions as the date of actual completion").
3.1.3 The risk of damage to or destruction of the Existing Home under this Schedule passes to the
Buyer (or such other Purchase Company as the Buyer may nominate) on the Actual
Completion.
3.1.4 The Standard Conditions shall apply to the sale and purchase save that Standard Conditions
1.3, 1.4, 1.5, 2, 3.1.3, 6.3 and 10.3 shall not apply.
3.2 Price
No consideration shall be payable for the transfer or grant of the new lease (as appropriate) of
the Existing Home.
3.3 Deposit
No deposit is payable.
3.1 Completion Arrangements
Completion is to take place on the Completion Date at the offices of the Councils Solicitors,
or elsewhere as the Council may reasonably direct.
3.4 Title Deduction
As soon as reasonably practicable after the relevant Secure Tenant has surrendered its
interest in the relevant Existing Home to the Council, and in any event not less than
20 Working Days prior to the Completion Date deduce title to the Existing Home as set out in
Standard Condition 6.1.
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Schedule 9
4 Dealing
4.1 The Council shall not deal (or agree to deal) with its interest in the relevant Existing Home
after the relevant Secure Tenant has surrendered its interest in the relevant Existing Home to
the Council until the earlier of the following events:
(a) the Buyer has confirmed it does not want to take a transfer or accept a new lease of
those premises;
(b) the Buyer has not responded confirming it wishes to take a transfer or accept a new
lease of the premises within 20 Working Days of a notice given pursuant to this
Schedule;
(c) the Buyer has not completed the transfer or lease after service of a notice to
complete in accordance with the Standard Conditions; or
(d) it completes the sale of its interest in accordance with this Schedule.
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