A414
Ord. No. 62/84
CONVEYANCING AND PROPERTY
FORM 2
Agreement for Sale of a Residential, Commercial, Industrial or Other Unit in a Completed Building
THIS AGREEMENT is made the
BETWEEN
(1)
(2)
day of
CONVEYANCING AND PROPERTY
Ord. No. 62/84
A415
FORM 3
Equitable Mortgage of a Residential, Commercial, Industrial or Other Unit in an Uncompleted Building
19
THIS EQUITABLE MORTGAGE is made the
BETWEEN
(1)
("the Vendor") and
(2)
("the Purchaser”).
day of
19
("the Borrower") and
("the Lender").
19
made
1.
The Vendor sells and the Purchaser purchases the land described in the Schedule hereto ("the Property") for the residue of the term of years created by the Crown lease referred to in the Schedule.
2.
The purchase price is the sum of $
3. A deposit of $
solicitors, Messrs
shall be paid by the Purchaser to [the Vendor's
as stakeholders] on the signing of this Agreement and the balance of the purchase price shall be paid on completion. The deposit shall be paid to the vendor on completion.
4.
Completion shall take place at the offices of the Vendor's solicitors at
or as they may direct, on the
day of
19
·
[Vacant possession of the Property shall be given to the Purchaser on completion]. [Time shall in every respect be of the essence of this Agreement}.
5.
6.
7.
The Vendor shall assign the Property as [
8.
The title shall commence with the Crown lease and [
9.
The Property is sold subject to and with the benefit of
1.
10. There are incorporated into this Agreement as if they were herein written the conditions respectively on the part of the Vendor and the Purchaser set out in Part A of the Second Schedule to the Conveyancing and Property Ordinance 1984.
11. The stamp duty and land registration fees payable on the assignment made pursuant to this Agreement shall be borne by [
J.
1.
The Property
SCHEDULE
(a) Description and address:
(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 etc.
RECEIVED the day and year first above written of and from the Purchaser the above mentioned deposit of $
day of
(A) By an Agreement dated the between
("the Vendor") and the Borrower ("the Agreement") the Borrower purchased the land described in the Schedule hereto ("the Property") for the sum of $
("the Purchase Price") subject to the terms and conditions set out in the Agreement. (B) Upon the issue of the [Occupation Permit] [Certificate of Compliance] relating to the Property by the [Building Authority] [Crown] and upon payment of the balance of the Purchase Price the Borrower will be entitled to an assignment of the Property. 1. In consideration of S
(the whole or any part whereof and any interest thereon remaining owing for the time being is hereinafter called "the Loan") paid by the Lender to the Borrower (the receipt whereof is acknowledged) the Borrower covenants with the Lender to repay the Loan on [demand] [a date being one month next after the date hereof] together with interest thereon from the date hereof day by day at the rate [of . . .] [from time to time notified by the Lender to the Borrower].
2. Notwithstanding Clause 1 the Borrower may repay and the Lender shall accept repayment of the Loan by equal monthly instalments of $
[or such other sum as may be notified from time to time by the Lender to the Borrower].
3. In consideration of the Loan and as security for the repayment thereof the Borrower charges his interest in the Property and assigns his rights in the Agreement to the Lender.
4.
The Borrower irrevocably appoints the Lender and any receiver or receivers appointed by the Lender by way of security jointly and each of them severally to be the attorney of the Borrower (with full power of substitution) and in the Borrower's name or otherwise and on his behalf and as his act and deed-
5.
(a) to comply and require compliance in all respects with the Agreement;
(b) to accept the Assignment to the Borrower;
(c) to execute a legal charge of the Property in favour of the Lender such legal charge to be in such form and to contain such covenants and provisions as the Lender shall require; and
(d) to sign seal execute deliver perfect and do all other deeds instruments acts and things which may be required or which the Lender or any such receiver or receivers shall think fit for carrying out any obligation imposed on the Borrower hereunder or for carrying into effect any sale lease charge or dealing by the Lender or by any such receiver or receivers or for giving to the Lender the full benefit of this charge.
There are incorporated herein as if they were herein written the covenants on the part of the Borrower set out in Part B of the Second Schedule to the Conveyancing and Property Ordinance 1984.
[Messrs
as stakeholders]
SCHEDULE
1.
The Property-
(a) Description and address:
No comments yet.
Private notes are available after approval.