1964_CONVEYANCING_AND_PROPERTY_ORDINANCE — Page 40

1988 Ed.]

Conveyancing and Property

[CAP. 219

39

(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) Lot number: (Amended, 31 of 1988, s.28)

SIGNED SEALED AND DELIVERED etc.

FORM 4

Legal Charge

THIS LEGAL CHARGE is made the

day of

19

BETWEEN

(1)

(2)

L.S.

("the Borrower") and

("the Lender").

1.

In consideration of $

(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 as beneficial owner charges the land described in the Schedule hereto ("the Property") to the Lender by way of legal charge subject to the covenants conditions and provisos contained in the Crown lease [and subject to the Deed of Mutual Covenant registered in the Land Office by Memorial No. ]. (Amended, 31 of 1988, s. 28)

4.

The Borrower hereby 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 his name or otherwise and on his behalf and as his act and deed to sign seal execute deliver perfect and do all 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.

5. There are incorporated herein as if they were herein written the covenants on the part of the Borrower set out in Part C of the Second Schedule to the Conveyancing and Property Ordinance.

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:

1

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