Common use of APPROVAL OF BOND Clause in Contracts

APPROVAL OF BOND. 2.1 This offer is subject to the suspensive condition that the Purchaser is able to obtain a quotation and a bond from a Bank as referred to in the National Credit Act 34/2005 for a loan amount of R to cover the purchase price and building price (words) or such a lower amount as accepted by the Purchaser, within 30 (Thirty) days after acceptance of this offer with no other condition imposed by the bank other than the registration of a bond. The Purchaser undertakes to apply for the bond at a financial institution immediately after acceptance of this offer, regardless whether his Property must first be sold or not. 2.2 The Purchaser undertakes to provide the sellers originator upon request the documentation and information they need to apply for a loan on the purchaser’s behalf and specifically give written confirmation that the originator may perform a credit check on the purchaser. This is to the benefit of the purchaser because the system of mortgage origination used by the seller avoids delays enabling the seller to reduce the price of his products. The seller requested certain banks to pre-value his product and will release the signed contract to his bond originator as part of the bond approval process and the originator shall contact the purchaser for any further information. Should the purchaser fail to make use of the seller’s originator and nominated bond attorney’s and obtain a bond through another originator or deal directly with a bank then the purchaser shall pay a penalty equal to one percent of the sum of the purchase price of the erf and the building agreement before transfer and on demand of the seller’s attorney. No penalty will be payable where the seller’s originator could not procure a bond and the purchaser obtained a bond through his own negotiations or where the purchaser is a private bank client and obtains a loan from his private bank. 2.3 The bond is to be allocated as follow: (2.3.1) R for the purchase of the erf. (2.3.2) R for building. 2.4 Should the suspensive condition not be fulfilled by the date set out in paragraph 2.1 this agreement shall terminate and the deposit paid herein will be refunded.

APPROVAL OF BOND. 2.1 This offer is subject to the suspensive condition that the Purchaser is able to obtain a quotation and a bond from a Bank as referred to in the National Credit Act 34/2005 for a loan amount of R to cover the purchase price and building price (words) or such a lower amount as accepted by the Purchaser, within 30 (Thirty) days after acceptance of this offer offer, with no other condition imposed by the bank other than the registration of a bond. The Purchaser undertakes to apply for the bond at a financial institution immediately after acceptance of this offer, regardless of whether or not his Property must first be sold or notsold. 2.2 The Purchaser undertakes undertakes, upon request, to provide the sellers Sellers originator upon request with the documentation and information they need to apply for a loan on the purchaserPurchaser’s behalf and herewith specifically give written confirmation that the originator may perform a credit check on the purchaserPurchaser. This stipulation is to the benefit of the purchaser Purchaser because the system of mortgage origination used by the seller Seller avoids delays delays, thus enabling the seller Seller to reduce the price of his products. The seller Seller requested certain banks to pre-value his product and will release the signed contract to his bond originator as part of the bond approval process and the originator shall contact the purchaser Purchaser for any further information. Should the purchaser Purchaser fail to make use of the sellerSeller’s originator and nominated bond attorney’s and obtain a bond through another originator or deal directly with a bank then bank, the purchaser Purchaser shall pay a penalty equal to one percent of the sum of the purchase price of the erf and the building agreement before transfer and on demand of the sellerSeller’s attorney. No penalty will be payable where the sellerSeller’s originator could not procure a bond and the purchaser Purchaser obtained a bond through his own negotiations or where the purchaser Purchaser is a private bank client and obtains a loan from his private bank. 2.3 The bond is to be allocated as follow: (2.3.1) R for the purchase of the erf. (2.3.2) R for building. 2.4 Should the suspensive condition not be fulfilled by the date set out in paragraph 2.1 para 2.1, this agreement shall terminate and the deposit paid herein will be refunded.

APPROVAL OF BOND. 2.1 This offer is subject to the suspensive condition that the Purchaser is able to obtain a quotation and a bond from a Bank as referred to in the National Credit Act 34/2005 for a loan amount of R to cover the purchase price and building price (words) or such a lower amount as accepted by the Purchaser, within 30 (Thirty) days after acceptance of this offer offer, with no other condition imposed by the bank other than the registration of a bond. The Purchaser undertakes to apply for the bond at a financial institution immediately after acceptance of this offer, regardless of whether or not his Property must first be sold or notsold. 2.2 The Purchaser undertakes undertakes, upon request, to provide the sellers Sellers originator upon request with the documentation and information they need to apply for a loan on the purchaserPurchaser’s behalf and specifically give written confirmation that the originator may perform a credit check on the purchaserPurchaser. This stipulation is to the benefit of the purchaser Purchaser because the system of mortgage origination used by the seller Seller avoids delays delays, thus enabling the seller Seller to reduce the price of his products. The seller Seller requested certain banks to pre-value his product and will release the signed contract to his bond originator as part of the bond approval process and the originator shall contact the purchaser Purchaser for any further information. Should the purchaser Purchaser fail to make use of the sellerSeller’s originator and nominated bond attorney’s and obtain a bond through another originator or deal directly with a bank then bank, the purchaser Purchaser shall pay a penalty equal to one percent of the sum of the purchase price of the erf and the building agreement before transfer and on demand of the sellerSeller’s attorney. No penalty will be payable where the sellerSeller’s originator could not procure a bond and the purchaser Purchaser obtained a bond through his own negotiations or where the purchaser Purchaser is a private bank client and obtains a loan from his private bank. 2.3 The bond is to be allocated as follow: (2.3.1) R for the purchase of the erf. (2.3.2) R for building. 2.4 Should the suspensive condition not be fulfilled by the date set out in paragraph 2.1 para 2.1, this agreement shall terminate and the deposit paid herein will be refunded.

APPROVAL OF BOND. 2.1 This offer is subject to the suspensive condition that the Purchaser is able to obtain a quotation and for a bond from a Bank as referred to in the National Credit Act 34/2005 for a loan amount of R to cover the purchase price and building price (words) or such a lower amount as accepted by the Purchaser, within 30 (Thirty) days after acceptance of this offer offer, with no other condition imposed by the bank other than the registration of a bondbond at an interest rate of not more than prime plus 2%. The Purchaser undertakes to apply for the bond at a financial institution immediately after acceptance of this offer, regardless of whether or not his Property must first be sold or notsold. 2.2 The Purchaser undertakes undertakes, upon request, to provide the sellers Sellers originator upon request with the documentation and information they need to apply for a loan on the purchaserPurchaser’s behalf and herewith specifically give written confirmation that the originator may perform a credit check on the purchaserPurchaser. This stipulation is to the benefit of the purchaser Purchaser because the system of mortgage origination used by the seller Seller avoids delays delays, thus enabling the seller Seller to reduce the price of his products. The seller Seller requested certain banks to pre-value his product and will release the signed contract to his bond originator as part of the bond approval process and the originator shall contact the purchaser Purchaser for any further information. Should the purchaser Purchaser fail to make use of the sellerSeller’s originator and nominated bond attorney’s and obtain a bond through another originator or deal directly with a bank then bank, the purchaser Purchaser shall pay a penalty equal to one percent of the sum of the purchase price of the erf and the building agreement before transfer and on demand of the sellerSeller’s attorney. No penalty will be payable where the sellerSeller’s originator could not procure a bond and the purchaser Purchaser obtained a bond through his own negotiations or where the purchaser Purchaser is a private bank client and obtains a loan from his private bank. 2.3 The bond is to be allocated as follow: (2.3.1) R for the purchase of the erf. (2.3.2) R for building. 2.4 Should the suspensive condition not be fulfilled by the date set out in paragraph 2.1 para 2.1, this agreement shall terminate and the deposit paid herein will be refunded.

APPROVAL OF BOND. 2.1 This offer is subject to the suspensive condition that the Purchaser is able to obtain a quotation and for a bond from a Bank as referred to in the National Credit Act 34/2005 for a loan amount of R to cover the purchase price and building price (words) or such a lower amount as accepted by the Purchaser, within 30 (Thirty) days after acceptance of this offer offer, with no other condition imposed by the bank other than the registration of a bondbond at an interest rate of not more than prime plus 2%. The Purchaser undertakes to apply for the bond at a financial institution immediately after acceptance of this offer, regardless of whether or not his Property must first be sold or notsold. 2.2 The Purchaser undertakes undertakes, upon request, to provide the sellers Sellers originator upon request with the documentation and information they need to apply for a loan on the purchaserPurchaser’s behalf and herewith specifically give written confirmation that the originator may perform a credit check on the purchaserPurchaser. This stipulation is to the benefit of the purchaser Purchaser because the system of mortgage origination used by the seller Seller avoids delays delays, thus enabling the seller Seller to reduce the price of his products. The seller Seller requested certain banks to pre-value his product and will release the signed contract to his bond originator as part of the bond approval process and the originator shall contact the purchaser Purchaser for any further information. Should the purchaser Purchaser fail to make use of the sellerSeller’s originator and nominated bond attorney’s and obtain a bond through another originator or deal directly with a bank then bank, the purchaser Purchaser shall pay a penalty equal to one percent of the sum of the purchase price of the erf and the building agreement before transfer and on demand of the sellerSeller’s attorney. This stipulation is to avoid delays and thus enabling the Seller to reduce his price. No penalty will be payable where the sellerSeller’s originator could not procure a bond and the purchaser Purchaser obtained a bond through his own negotiations or where the purchaser Purchaser is a private bank client and obtains a loan from his private bank. Should the financier of the Purchaser not instruct the Seller’s bond attorneys, LDB Attorneys Inc to register the bond of the Purchaser, the Seller shall not pay the Purchaser’s transfer fees and the Purchaser shall be responsible for his own bond costs, unless the Purchaser is a private bank client and LDB Attorneys Inc is not on their panel in which case the seller shall only pay the purchasers transfer fee. 2.3 The bond is to be allocated as follow: (2.3.1) R for the purchase of the erf. (2.3.2) R for building. 2.4 Should the suspensive condition not be fulfilled by the date set out in paragraph 2.1 para 2.1, this agreement shall terminate and the deposit paid herein will be refunded.