The Purchaser hereby authorises the Developer or its Agent to secure a Tenant for the Property forthwith upon completion of an Assured Shorthold Tenancy and at the best available rent and to procure that the Property is so let until the Purchaser shall have sold the Property or the period of 2 years has expired since the Purchaser’s acquisition of the Property (whichever shall first occur) (the Letting Period).
On the basis only that the Developer or its Agent shall have control of the letting of the Property the Developer shall pay to the Purchaser during the Letting Period whether the Property is occupied or not the annual sum (or a proportion as the case may be) of being a 6% Guaranteed Return payable in 12 equal instalments during any one year the first such payment being made 30 days after the date of completion and monthly thereafter.
The Developer shall notify the Purchaser within 5 working days of the granting of a Tenancy of the Property and shall provide a copy of the Tenancy Agreement.
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