36
CAP. 219]
Conveyancing and Property
[1988 Ed.
(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 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 I
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").
In consideration of the sum of $
paid by the Purchaser to the Vendor (receipt whereof is acknowledged) the Vendor as [
ASSIGNS 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.
].
1.
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:
36
CAP. 219]
Conveyancing and Property
[1988 Ed.
(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 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 I
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").
In consideration of the sum of $
paid by the Purchaser to the Vendor (receipt whereof is acknowledged) the Vendor as [
ASSIGNS to the Purchaser the land described in the Schedule hereto ("the Property") TO HOLD the same unto the Purchaser Jas
] 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.
].
1.
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:
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