Contacting the Owners' Society The Owners' Society is managed by a Committee of Owner and Resort Operator Representatives. The current officers’ (the Committee) of the Society are: The Secretary and the Treasurer of the Society. The Thompson Wentworth Group is a professional property and body corporate asset management company that performs the role of the secretary and treasurer of the Owners’ Society and is also the Body Corporate secretary for the three villa body corporates. They can be contacted at: Phone +64 3 357 1340 Email BCManagement@twl.net.nz The Committee. Maurice Eng (Chairman) Body Corporate - Stage 3 Murray Davison Fable Terrace Downs Resort Robert Koller Chalet Owner Paul Grave Chalet Owner Benjamin Van der Griend Section Owner John Brophy Body Corporate - Stage 1 Teresa Crawford Body Corporate - Stage 2

Maurice Eng (Chairman) Body Corporate - Stage 3 This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. mauriceeng@xtra.co.nz 123-456-7890 Next Previous

John Brophy Body Corporate - Stage 1 This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. john@chaptr.co.nz 123-456-7890 Next Previous

There are a number of ownership interests at Terrace Downs. PHC owns the Fable Terrace Downs Resort, the Golf Course, club house and much of the yet to be developed surrounding open space and the associated infrastructure services, for example roads, gas and water supply. Introduction Owning property at Terrace Downs There are a number of ownership interests at Terrace Downs. PHC owns the Fable Terrace Downs Resort, the Golf Course, club house and much of the yet to be developed surrounding open space and the associated infrastructure services, for example roads, gas and water supply. In addition, there are also privately owned vacant sections, stand-alone houses (referred to as chalets) and unit title apartments referred to as villas. There are 68 Chalet properties (including vacant sections yet to be built on) and 52 Body Corporate Villas. Approximately half of the Villas are owned by the Resort Owner and are operated as hotel accommodation as part of the Fable Resort with the residual villas privately owned. As the Resort owns a number of Villas, it is therefore both the Resort Owner and a Residential Property Owner. Who owns the Key Infrastructure ? Roads, water systems, sewage systems? The roads, water pipes and sewage system (“Services Infrastructure”) are on Resort property and owned by the Resort. The Resort Owner maintains the Service Infrastructure. In addition to providing Service Infrastructure the Resort Owner provides other ancillary services, for example rubbish collection, security services and gardening, referred to as - Property Services. There is a Cost Sharing Agreement that sets out in details how these Property Services are provided and how the Residential Property Owners contribute to the cost of providing those services. The Residential Properties have an easement registered against them enabling access to the Services Infrastructure. Generally, the easement grants a right of way to access the property, a right to convey water and a right to drain sewage. The Resort Owner maintains the Resort Infrastructure and the cost of this is shared by the Residential Property Owners and the Resort Owner. There is a Cost Sharing Agreement that regulates this maintenance arrangement and an Owners’ Society that jointly manages this for the benefit of everyone at Terrace Downs. Titles to the Residential Properties have an Encumbrance recorded on them that requires the Resort Owner to provide Property Services and the Residential Property owners to contribute to the cost of such services. The Encumbrance also regulates building and maintenance standards. Residential properties also have easements recorded on them providing a right of way and the right to covey water. Key Elements. What are the key elements of property ownership at Terrace Downs? The following terminology is used in this overview website to explain the rights, obligations and legal framework that has been created to ensure Terrace Downs is managed and maintained to a high standard and that there is a harmonious relationship between the Resort and various Property Owners at Terrace Downs. Fable Terrace Downs Resort and the Resort refers to the Fable Terrace Downs Resort and associated hotel accommodation, restaurant clubrooms and Golf Club. Chalets refers to the houses, Sections refers to the vacant lots and Villas refers to the apartments that are within Terrace Downs. The chalets, Sections and Villas are held in separate legal ownership structures to the Resort. Terrace Downs refers to the general area that encompasses the Fable Terrace Downs Resort, the Golf Course, Villas, Chalets, vacant sections and the associated Resort Infrastructure. Resort Infrastructure refers to the roads, stormwater systems, water supply and sewage distribution and treatment systems servicing Terrace Downs. Owners’ Society refers to the incorporated society of which the Residential Property Owners and Resort Owner are members. The Owners’ Society manages and levies costs under the Cost Sharing Agreement, ensures the Resort Owner complies with the Cost Sharing Agreement and ensures the Resort Infrastructure is maintained to a good standard Encumbrance refers to the memorandum of encumbrance registered on the title to most Residential Properties. This sets out rights and obligations in relation to building, maintenance and the provision of Resort Infrastructure. Residential Properties refers to the Villas, Vacant Sections and Chalets at Terrace Downs that are not part of the Resort and Residential Property Owners refers to the various owners of those Residential Properties. Design Guidelines refers to the building design guidelines that set out the standard required for the construction and maintenance of buildings at Terrace Downs. Levy refers to the levy paid by Residential Property Owners for the Property Services they receive. Property Services refers to the property services provided by the Resort Owner. In summary these services include, security, water connection, water system maintenance, sanity sewer maintenance, emergency water contingency, roading and footpath maintenance and repairs, gardening and grounds maintenance, including employing a property maintenance manager. Property Rights What right do I have to access my property? As is common in many residential properties in New Zealand, most of the Residential Properties at Terrace Downs have easements registered against them to provide a right of way and the right to convey water and sewage. In addition, in some cases the Encumbrance referred to below requires the Resort Owner to provide services to the boundary of the property and to ensure that a sealed road passes in close proximity to the property. Fable Terrace Downs Resort Property Owners' Levy Encumbrance + Cost Sharing Agreement Easement (Right of Way, Water, Etc.) Right to Build/ Alter/ Maintain Property Design Guidelines & Building Maintenance Standards Selwyn District Council Planning Rules Residential Properties Owners' Society Represents Residential Owners, collects a levy and manages property services Cost Sharing Agreement Management of services such as water, sewage, roading, gardening and grounds maintenance Memorandum of Encumberance The Memorandum of Encumbrance and Infrastructure Management at Terrace Downs Most of the residential properties have a memorandum of encumbrance (“Encumbrance”) registered on them. This Encumbrance is a key document creating the rights and obligations between the Resort Owner and the owners of Residential Properties. The Encumbrance sets standards for how properties should be constructed and maintained. As anticipated by the Encumbrance, the Resort Owner has created Building and Landscape Design Guidelines to be followed when building and maintaining properties. The Encumbrance also puts obligation on the Resort Owner to provide services to the property. These services include roads, water, rubbish collection etc. The Encumbrance requires property owners to pay a levy for these services. The obligations of the Resort Owner and the Residential Property Owners under the Encumbrance have been clarified and documented in a Cost Sharing Agreement.

There are also privately owned vacant sections, stand-alone houses (referred to as chalets) and unit title apartments referred to as villas.​ There are 68 Chalet properties (including vacant sections yet to be built on) and 52 Body Corporate Villas. Approximately half of the Villas are owned by the Resort Owner and are operated as hotel accommodation as part of the Fable Resort with the residual villas privately owned.

There are three distinct body corporates, each governed by its own committee and secretary. Thompson Wentworth, a specialist in property and body corporate asset management, acts as the appointed secretary for all three entities. Each Villa owner is responsible for paying their respective body corporate levies. All three body corporates have representation on the Owners’ Society Committee. The Body Corporate Villas There are three distinct body corporates, each governed by its own committee and secretary. Thompson Wentworth, a specialist in property and body corporate asset management, acts as the appointed secretary for all three entities. Each Villa owner is responsible for paying their respective body corporate levies. All three body corporates have representation on the Owners’ Society Committee. If you require specific guidance about a particular Villa, it is recommended that you seek independent legal advice. Stage 1 Stage 2 Stage 3 Why are there three separate body corporates? The Villas were constructed in three different stages. This phased construction is generally referred to as stage 1, stage 2 and stage 3. Each stage is shown on the diagram below. Amalgamating the three body corporates into one has been considered. However, this would be a very difficult task and the complexity and cost of doing this outweighs any expected benefits. Having the same body corporate secretary for all three body corporates (i.e. stages) creates an opportunity to align and consolidate how the body corporates operate. Do any of the Villas form part of the Fable Terrace downs Resort complex? There are 52 Body Corporate Villas at Terrace Downs. The Villas are each a separate unit title in the name of the individual owner. The Resort owner (in addition to owning the Resort itself) owns approximately 25 of the Villas and so is both the Resort Owner and is also a Residential Owner. These Villas are used by the Resort Owner for hotel style accommodation. What is the ownership structure of the Villas? The Villas are each a separate unit title which is a common legal structure for apartments and townhouses in New Zealand. Each owner of a unit title property is a member of a body corporate. How do prospective purchasers obtain information relating a Villas and its body corporate? When a Villa is being sold information on costs relating to the body corporate (including levies) and other important information is provided in a pre-contract disclosure statement and a pre-settlement disclosure statement. Potential purchases should obtain and seek advice on these documents prior to purchasing a Villa. The pre-contract disclosure statement and the pre-settlement disclosure statement are important documents and the primary source of information regarding villas and body corporates. What is the role of the body corporate? The body corporate manages what is referred to as the common areas and commonly managed assets. The common areas are shown on the body corporate’s title plan, for example paths, stairs and gardens. One of the key things that the body corporate does is arrange insurance for all of the Villas that are part of it. The body cooperate charges each villa owner an annual contribution levy to cover costs such as insurance and maintenance. Responsibility between the body corporates and the Villa owners for such items as aluminum sliding doors, common area lighting, entry doors etc is clearly defined. A schedule is available from the Body corporate secretary on request. Are Villa owners’ members of the Owner’s Society? Yes. The rights and obligations of Villa Owners have been formalized in the Cost Sharing Agreement and the Owners’ Society Constitution. The position under those two agreements is the same for Villa owners as it is for Chalet owners. The intention is that the Cost sharing Agreement and Owners’ Society Constitution clarify and expand on the various easements and encumbrances that exist on the Villa and Chalet titles. Each of the Body Corporate’s has one representative on the Owners’ Society Committee. Is there a maintenance plan? Each body corporate has an annual scheduled maintenance plan and a long-term maintenance plan. The long-term maintenance plan is a legal requirement. It identifies future maintenance requirements associated with the common areas and commonly managed assets over a period of at least 10 years. A portion of the body corporate’s annual levy is allocated to building a long-term maintenance fund which can be used to undertake future repair/replacement work when commonly managed assets come to the end of their economic life. Who maintains the grounds and exterior of the Villas? Each of the three Body Corporates maintains their exterior and common areas such as paths, driveways gardens and external lighting. How do I obtain more information on a Villa or a body corporate? Thompson Wentworth, a specialist in property and body corporate asset management, acts as the appointed secretary for all three body corporates. They can provide information and guidance to villa owners on request. Click contact below.

The Design Guidelines for owners' at the Terrace Downs Owners' Society. Design Guidelines Terrace Downs Owners' Society Design Guidelines How is the high standard of properties at Terrace Downs maintained? The Encumbrance (ref example called “Example Encumbrance Sections & Chalets Titles” in the Documents section of this website) sets standards for how properties should be constructed and maintained. As anticipated by the Encumbrance, the Resort Owner has created Building and Landscape Design Guidelines (“Design Guidelines”) to be followed by Section owners when building their new Chalet and Chalet and body corporate Villa owners when maintaining properties. The Design Guidelines for Terrace Downs High Country resort can be found using the link below. The Selwyn District Council operative plan also has rules and regulations in it regarding construction at Terrace Downs. These can be found at on the SDC websites sub portal Property & Building. These are complimentary to the design guidelines. Design Guidelines Selwyn District Plan Do I need Consent to build a house at Terrace Downs? Yes. You will need the normal resource and building consents that apply in New Zealand. The relevant Council is the Selwyn District Council www.selwyn.govt.nz In addition, you will need consent from the Resort Owner’s Architectural Design Committee referred to as the Terrace Downs Design Committee (“TDDC”). The process for obtaining consent is set out in Design Guidelines and summarized in the document called “Terrace Downs High Country Resort – Summary Design Approval Process” in the Documents Page. Click here Section 6.2 of the Guidelines specifically details the fees involved. i.e. when an owners is at a point that they wish to socialise a preliminary design with the Terrace Downs Design Committee (TDDC), they make contact with the TDDC via the Secretary of the Terrace Downs Owners Society (Click here for contact detail) and lodge their application (for approval in principal) of their concept or preliminary design. The TDDC will consider your approval and convey acceptance in principle of your design concept or advise you what you need to do to comply with respect to the design guideline element(s) that are not assessed as being compliant. To speed up and make the TDDC’s assessment and approval process as efficient as possible for all stakeholders, the TDDC’s retained architectural consultant has developed a Design Elements Review and Assessment Form. (Click here) Owners are required to request their retained design consultants to furnish their preliminary and later detailed design plans after having completed this submission form which shall then accompany each owner’s application. Do the Design guidelines apply to maintenance and renovation? Yes. How do I contact the Terrace Downs Architectural Design Committee? Thompson Wentworth is the secretary of the Owners’ Society and is the first point of contact for submitting designs to the Terrance Downs Design Committee (TDDC). Click here for contact detail.

Robert Koller Chalet Owner This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. quickenberry@xtra.co.nz 123-456-7890 Next Previous

Benjamin Van der Griend Section Owner This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. ben@vandergriend.nz 123-456-7890 Next Previous

Paul Grave Chalet Owner This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. paulgrave435@gmail.com 123-456-7890 Next Previous

Murray Davison Fable Terrace Downs Resort This is a paragraph. It is connected to a CMS collection through a dataset. Click “Edit Text” to update content in the connected CMS collection. The CMS can be used to store website content, or to collect data from site visitors when they submit a form. The CMS collection is already set up with some fields and content. To customize it with your own content, import a CSV file or simply edit this placeholder text from the collection. You can also add more fields, which you can then connect to other page elements to display content on your published site. murray@cpgroupnz.com 123-456-7890 Next Previous

The Terrace Downs Owners' Society website is intended to give a general overview of the rules and regulations governing the building, maintenance and management of the Resort Infrastructure at Terrace Downs. Terrace Downs Owners' Society Welcome to the Terrace Downs Owners' Society Information Website Overview The general area known as Terrace Downs, encompasses the Fable Terrace Downs Resort, the Golf Course, Villas, Chalets, vacant sections and associated Resort Infrastructure. Terrace Downs is owned by the operator of the Resort and a number of Residential Property Owners. The Fable Terrace Downs Resort and Golf Club is owned by PHC Terrace Downs Limited (“PHC”). PHC is part of the CPG Hotels Group. Services like roads, water, sewage and rubbish collection, and the cost sharing agreement relating to those services, are facilitated by the Terrace Downs Resort Owners’ Society Incorporated. This website is maintained by the Owners' Society to give a high level overview of property ownership at Terrace Downs . Prior to purchasing, selling or maintaining a property at Terrace Downs you should obtain your own independent legal advice. Explore Please select the following menu items to assist with your directory. Click here for Site Search Home Owning Property Introduction Who Owns the Key Infrastructure? Key Elements Access Rights Memorandum of Encumbrance Introduction Who Owns the Key Infrastructure? Key Elements Access Rights Memorandum of Encumbrance Owners' Society For Members Maintenance & Infrastructure Cost Sharing Selling your Property For Members Maintenance & Infrastructure Cost Sharing Selling your Property Design Guidelines Body Corporate Villas Documents Contact Menu Close Website Disclosure This website is intended to give a general overview of the rules and regulations governing the building, maintenance and management of the Resort Infrastructure at Terrace Downs. It is a high-level overview only and is not intended to provide legal advice. You should consult your own legal or other advisors on how the various rules, regulations and legal framework impact you. The relevant documents regulating property ownership at Terrace Downs can be found here Documents