MORTGAGE FINANCE. 3.1 This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Developer in its sole discretion may determine.
MORTGAGE FINANCE. 13.1 This agreement is subject to the condition that the Purchaser (or the Seller or its agent, if any, on the Purchaser's behalf) is able to raise a loan, within the time frames stipulated in clause 9 of the Schedule of Particulars, upon the security of a first mortgage bond to be passed over the Unit for a sum of not less than the amount shown in 6 of the Schedule of Particulars. Such bond shall be substantially on the same terms and conditions as bonds granted by any bank or other financial institution in respect of similar properties and for Purchasers of a similar financial standing. This condition shall be deemed to have been fulfilled upon written advice by the lender to the Seller or the Purchaser that it is prepared to make the loan notwithstanding that funds might not immediately be available and notwithstanding that the final approval of the loan cannot be given until the sectional plans have been approved.
MORTGAGE FINANCE. The Buyer shall immediately submit and diligently pursue an application for mortgage finance over the Property and should make every effort to ensure that an offer of advance is secured before the Exclusivity Period.
MORTGAGE FINANCE. This agreement is subject to the condition that the Purchaser (or the Seller or its agent, if any, on the Purchaser's behalf) is able to raise a loan, within the time frames stipulated in paragraph 5 of the Schedule of Particulars, upon the security of a first mortgage bond to be passed over the Unit for a sum of not less than the amount shown in paragraph 5 of the Schedule of Particulars. Such bond shall be substantially on the same terms and conditions as bonds granted by any bank or other financial institution in respect of similar properties and for Purchasers of a similar financial standing. This condition shall be deemed to have been fulfilled upon written advice by the lender to the Seller or the Purchaser that it is prepared to make the loan notwithstanding that funds might not immediately be available and notwithstanding that the final approval of the loan cannot be given until the sectional plans have been approved. It is expressly recorded that a "pledge/pre-bond approval" does not constitute the necessary approval in principle in terms of this agreement. The Purchaser undertakes to use his/her/its best endeavours to raise the aforesaid loan and furthermore undertakes to sign all such documents as are reasonably necessary for this purpose. The Purchaser warrants, to the best of his/her knowledge and belief, that he/she/it earns sufficient to obtain the bond in the amount indicated. JOINT AND SEVERAL LIABILITY Should this agreement be signed by more than one person as Purchaser, the obligation of all such signatories shall be joint and several. SURETYSHIP Should the Purchaser be a company or close corporation or trust or should the Purchaser have nominated a company or close corporation or trust as co-Purchaser, the signatory to this agreement warrants that she/he is duly authorized to enter into this agreement on behalf of the company or close corporation and hereby binds himself as surety and co-principal debtor in favour of the Seller for all the obligations of the Purchaser in terms of this agreement (including any amounts which may become owing arising out of any breach of this agreement) and renounces the benefits of excussion, division, cession of action and de duobus vel pluribus xxxx debendi the meaning and full force and effects of such benefits the signatory/surety acknowledges he knows and understands.
MORTGAGE FINANCE. 7.1 The Purchaser wishes to raise a loan in the amount as set out in clause 3.1.3 for purposes of funding the purchase of the Property.
MORTGAGE FINANCE. (a) In the event that the Purchase Price or portion of it is to be made up from finance from a building society or registered financial institution, the Purchaser undertakes to (and notwithstanding and without prejudice to his obligation to pay the Purchase Price by the due date for payment in terms of this Agreement):
MORTGAGE FINANCE. 12.1 This agreement is subject to the condition that the purchaser (or the seller or its agent, if any, on the purchaser's behalf) is able to raise a loan, within the time frames stipulated in clause 12 of the schedule of particulars, upon the security of a first mortgage bond to be passed over the unit for a sum of not less than the amount shown in clause 10 of the Schedule. Such bond shall be substantially on the same terms and conditions as bonds granted by any bank or other financial institution in respect of similar properties and for purchasers of a similar financial standing. This condition shall be deemed to have been fulfilled upon written advice by the lender to the seller or the purchaser that it is prepared to make the loan notwithstanding that funds might not immediately be available and notwithstanding that the final approval of the loan cannot be given until the sectional plans have been approved.
MORTGAGE FINANCE. 15.1 The provisions of this agreement, are subject to the suspensive condition that the Purchaser (or the Seller or the Seller’s agent, on the Purchaser's behalf) is able to raise a loan upon the security of a first mortgage bond to be passed over the section for a sum of no less than : R ( ) (“the Mortgage Loan”) The parties record that acceptance of a quotation letter and/or pre-agreement statement issued by a financial institution offering a mortgage loan to the Purchaser, including a term that it is subject to the sectional title register being opened, shall constitute fulfillment of the suspensive condition to this agreement. The Purchaser shall be obliged to accept, within 5 (five) days of a quotation letter and/or pre- agreement statement being granted by the financial institution.
MORTGAGE FINANCE a loan of not less than R ………………………………………. (…………………………………………………………………………………………………. ) to be granted by a bank or similar financial institution for the purpose of paying the PURCHASE PRICE to be secured by a first mortgage bond over the PROPERTY which loan shall be granted within 15 (fifteen) days of signature of this agreement by the PURCHASER (which deadline may be extended by the SELLER at the SELLER'S sole option for a period of 15 days). The SELLER need not give notice to the purchaser of any such extension.
MORTGAGE FINANCE. The Allottee(s) may with the prior consent of the Company, in writing, and other competent authorities mortgage or charge theSaid Premises(s) to such bank/financial institution/government authority or any other person(s) as may be permitted by the Company provided that in the event of sale or foreclosure of the mortgaged Said Premises, the remaining payment under this Agreement shall have priority over the said mortgage or charge as the case may be.
