A412
Ord. No. 62/84
CONVEYANCING AND PROPERTY
(g) That the borrower shall not without the prior written consent of the lender at any time during the continuance of the equitable mortgage assign charge underlet or in any manner otherwise deal with or dispose of the property or any interest therein or the equity of redemption in respect thereof or enter into any agreement so to do.
PART C
(In a Legal Charge)
(a) That the borrower shall during the continuance of the legal charge pay the premium and other moneys (if any) and Crown rent and perform and observe the covenants terms and conditions by and in the Crown lease reserved and contained and shall pay the property tax (if any) rates charges outgoings and impositions from time to time assessed charged or imposed on or payable in respect of the property or any part thereof and shall at all times keep the lender indemnified therefrom and from and against all actions suits expenses and claims which may be incurred or sustained on account of the non-payment of the said premium or other moneys (if any) or Crown rent property tax rates charges outgoings and impositions or any part thereof or the breach or non-performance or non-observance of the said covenants terms and conditions or any of them.
(b) That moneys due under any covenant relating to the property have been paid and any other covenants, terms and conditions relating to the property have been duly observed and performed.
(c) That the borrower shall at all times during the continuance of the legal
charge-
(i) keep and maintain the property in good and tenantable repair and
condition to the satisfaction of the lender and Government;
(ii) comply with all Government or other legal requirements and notices
whether statutory or otherwise in respect of the property;
(iii) allow the lender and his servants or agents to enter and view the state of repair of the property at all reasonable times without the lender by so doing only being deemed to have taken possession of the property; and
(iv) pay all moneys due from time to time under and observe and perform the covenants terms and conditions contained in the deed of mutual covenant (if any).
(d) That the borrower shall during the continuance of the legal charge insure and keep insured the property with some insurance company in Hong Kong to be first approved in writing by the lender against loss or damage from fire and such other risks as the lender shall think fit in the full insurable value thereof for the time being and if so required by the lender in the joint names of the borrower and the lender and duly and punctually pay all premiums and other moneys necessary for effecting and keeping up such insurance immediately upon the same becoming due and shall forthwith endorse over and deliver to the lender the policies and all current receipts for premium for the time being.
(e) That if the borrower shall make default in payment of the said premium and other moneys (if any) or the Crown rent or any part thereof or in the performance or observance of the said covenants terms and conditions or any of them or in effecting such insurance or in paying the insurance premiums or in so repairing as aforesaid or in duly complying with all such requirements and notices as aforesaid or shall fail to endorse over and deliver such policies and receipts then and in such case and so often as the same shall happen it shall be lawful for the lender to pay such premium or
CONVEYANCING AND PROPERTY
Ord. No. 62/84
A413
other moneys (if any) or Crown rent and so perform and observe such covenants terms and conditions effect such insurance or repairs pay such insurance premiums or comply with all such requirements and notices as aforesaid and the borrower shall forthwith repay to the lender on demand all moneys expended by the lender in so doing and until such repayment such moneys shall be a charge upon the property as if the same had formed part of the loan and bear interest accordingly.
(f) That the borrower shall not without the prior written consent of the lender at any time during the continuance of the legal charge assign sub-divide charge underlet part with possession or in any manner otherwise deal with or dispose of the property or any part thereof or any interest therein or enter into any agreement or arrangement so to do.
THIRD SCHEDULE
FORM 1
Assignment of a Lot or Section of a Lot or of a Residential, Commercial, Industrial or Other Unit in a Completed Building
THIS ASSIGNMENT is made the
BETWEEN
(1)
(2)
day of
19
[s. 37.]
("the Vendor") and
("the Purchaser").
paid by the Purchaser to the JASSIGNS
In consideration of the sum of $ Vendor (receipt whereof is acknowledged) the Vendor as [
to the Purchaser the land described in the Schedule hereto ("the Property") TO HOLD the same unto the Purchaser [as
] for the residue of the term of years created by the Crown lease referred to in the Schedule subject to the payment of the [apportioned] yearly Crown rent reserved by and the covenants conditions and provisos contained in the Crown lease [and subject to and with the benefit of the Deed of Mutual Covenant registered in the Land Office by Memorial No. ].
The Property-
(a) Description and address:
SCHEDULE
(b) Lot number, sections, undivided shares etc.:
(c) Exceptions and reservations, etc.:
(d) Easements and other appurtenant rights, if any:
2.
The Crown Lease-
(a) Date:
(b) Parties:
(c) Term:
(d) Property:
SIGNED SEALED AND DELIVERED etc.
L.S.
No comments yet.
Private notes are available after approval.