Land Register Declarations. 15.1 The Seller and the Buyer agree that ownership of the Object of Purchase shall be transferred to the Buyer and declare the conveyance of title. The Seller approves and the Buyer applies for the registration of the transfer of ownership in the land register. On this day already, the notary public is instructed to issue executed copies or certified copies of the deed containing the declaration of the conveyance of title only in the event that the preconditions for the application of registration of transfer of ownership are met. Until then, only executed copies and certified copies not containing the declaration of conveyance of title may be issued.
Land Register Declarations. The conveyance or the real agreement on the transfer of the building lease is to be carried out if the purchase price (including value-added tax) and the real-estate transfer tax have been paid or if the relevant accounts receivable have expired by billing / setoff. The Obligated Party consents to and applies for a priority notice to be entered in accordance with paragraph 883 BGB in favor of the Beneficiary against the building lease entered in the Unterbiberg land registry, sheet 5978, for the purpose of securing the Beneficiary’s conditional claim transfer of ownership/transfer of the building lease arising from this contract. The Obligated Party reserves the right to have mortgages to the amount of [**] euros, together with up to [**] percent ([**]%) annual interest from today and [**] percent ([**]%) one-off additional services, entered before the aforementioned approved priority notice. The entry of a relevant reservation of priority is approved. The notary making the record is herewith duly authorized to restrict the reservation of priority in accordance with the contract when the application to make the entry is made. It is agreed inter partes that this power of attorney must only be used in agreement with the Obligated Party. The applications for the entry of the aforementioned approved priority notice and of the reservation of priority can be made independently of each other. The following is declared with contractual effect: In the Land Register, the priority notice will be given priority after all encumbrances entered and still to be entered in Sec. III of the Land Register for financing the acquisition of the object of purchase by the Obligated Party and for financing the erection of the buildings to be erected on the object of purchase during the time of possession by the Obligated Party.
