The Purchaser is the buyer of the property.
The vendor is the name given to the seller of the property.
A ‘split contract’ is the transaction where by one contract is used for the acquisition of land, between the land owner or Vendor and the purchaser. A totally separate contract is issed for the building process, between the builder and the purchaser. Normally both contracts would be entered into around the same time, however the land contract will settle prior to the commencement of construction works administered by the building contract.
A padmount or pad-mounted transformer is a ground mounted electric power distribution transformer in a locked steel cabinet mounted on a concrete pad. Since all energized connection points are securely enclosed in a grounded metal housing, a padmount transformer can be installed in places that do not have room for a fenced enclosure. Padmount transformers are used with underground electric power distribution lines at service drops, to step down the primary voltage on the line to the lower secondary voltage supplied to utility customers. A single transformer may serve one large building, or many homes.