512 RAYMOND TERRACE ROAD THORNTON 2322 Charsam Pty Ltd Planning Agreement

The Planning Agreement provides that the Developer will make a monetary contribution of $91,250 per hectare of net developable area (subject to indexation in accordance with the Planning Agreement) (Development Contribution) for the purposes of the provision of designated State public infrastructure within the meaning of clause 6.1 of Maitland Local Environmental Plan 2011 (LEP).

An instalment of the Development Contribution will be payable prior to the issue of each relevant subdivision certificate in accordance with Schedule 4 to the Planning Agreement. The Developer is required to provide a $20,000 bank guarantee in accordance with Schedule 5 to the Planning Agreement.

The objective of the Planning Agreement is to facilitate the delivery of the Developer’s contributions towards the provision of designated State public infrastructure referred to in
clause 6.1 of the LEP.