Common use of MORTGAGE BOND Clause in Contracts

MORTGAGE BOND. 16.1 This AGREEMENT is subject to the PURCHASER obtaining a bond in principle from a bank on its usual terms in the amount as specified in Clause 11 of the Annexure "A" if any. In this regard, it is specifically recorded that the PURCHASER shall be obliged to source his/ her/ its bond finance from such mortgage originator appointed by the SELLER in writing. The PURCHASER shall take all steps, do all things and sign all documents required by such originator for the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bond, the PURCHASER shall be liable for all costs incidental to the registration of the Mortgage Bond that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 (two) days of request. 16.2 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within 21 (twenty one) days of date of signature hereof by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition relating to the obtaining of the bond finance referred to in this agreement, then in all such events, the suspensive condition relating to the obtaining of mortgage finance shall be deemed to have been fulfilled timeously. 16.5 Subject to the provisions of Clause 16.4 above, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid by the PURCHASER together with interest thereon and the parties shall have no further claims against each other.

MORTGAGE BOND. 16.1 21.1 This AGREEMENT offer is subject to the PURCHASER obtaining approval of a bond in principle from quotation by a bank on its usual terms in financial institution for an amount of not less than the amount as specified stipulated in Clause 11 clause 9.1 of the Annexure "A" if any. In this regardAgreement of sale. 21.2 The Purchaser authorizes the bond originator to exploit all reasonable sources of bond financing on his behalf, it is specifically recorded that and undertakes to furnish the PURCHASER shall be obliged bond originator with the necessary documentation to source his/ her/ its bond finance from such mortgage originator appointed by the SELLER in writing. The PURCHASER shall take all steps, do all things and sign all documents required by such originator apply for the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bond, the PURCHASER shall within 5 (Five) days after acceptance of this offer to purchase. 21.3 The bond approval must be liable for all costs incidental to the registration of the Mortgage Bond that would have been payable given by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 no later than 21 (twotwenty-one) days of requestacceptance from the date of acceptance in this agreement. 16.2 The PURCHASER binds his utmost good faith 21.4 Should loan approval not be obtained in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within said 21 (twenty one) days, the time period for loan approval, shall be extended, at the sole and absolute discretion of the Seller, for a further period of 30 (thirty) days from the initial expiry date, and the Purchaser shall be notified in writing of date the Sellers election to award the said extension of signature hereof a further 30 (thirty) days. 21.5 Notwithstanding anything contained herein to the contrary and in the event the Purchaser utilises the services of the Agents Bond Originator, the Purchaser undertakes to within 5 (five) calendar days from request therefore by the SELLER or within such extended period as Agent’s Bond Originator/the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 Agent provide the Agents Bond Originator with all the required documentation to enable the Originator to apply for the loan on the Purchasers behalf. In the event of the PURCHASER failing Purchaser for whatsoever reason does not within the aforesaid time period provide to make application for such mortgage bond and/or failing to provide the information and/or Agent’s Bond Originator all the required documentation required for the processing of such application timeously and/or frustrating, by any acts or omissionsas requested, the fulfillment of the suspensive condition relating to the obtaining of the bond finance Suspensive Condition referred to in this agreement, then in all such events, above shall be accepted as being waived by the suspensive condition relating to the obtaining of mortgage finance Purchaser alternatively shall be deemed to have been fulfilled timeously. 16.5 Subject be fulfilled. In the event the Purchaser elects to apply for bond finance personally then and in such event the Purchaser must, within 5 (five) calendar days from date that confirmation of the acceptance hereof by the seller is forwarded to the provisions of Clause 16.4 abovePurchaser, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund furnish to the PURCHASER such deposit as may have Agent proof that bond financing has been paid applied for by the PURCHASER together Purchaser. Should the Purchaser for whatsoever reason not within the aforesaid time period provide to the Agent with interest thereon and the parties required proof that an application for bond financing was submitted by the Purchaser the Suspensive Condition referred to above shall have no further claims against each otherbe accepted as being waived by the Purchaser alternatively shall be deemed to be fulfilled.

MORTGAGE BOND. 16.1 This AGREEMENT is subject to the PURCHASER obtaining a bond in principle from a bank on its usual terms in the amount as specified in Clause 11 of the Annexure "A" SCHEDULE, if any. In this regard, it is specifically recorded that the PURCHASER shall be obliged to source his/ her/ its bond finance from such mortgage originator appointed by the SELLER in writing. The PURCHASER shall take all steps, do all things and sign all documents required by such originator for the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bond, the PURCHASER shall be liable for all costs incidental to the registration of the Mortgage Bond Transfer that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration Transfer costs within 2 (two) days of requestrequest by the SELLER's ATTORNEYS to the SELLERS's ATTORNEYS. 16.2 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request.unless 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within 21 (twenty one) days of date of signature hereof by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition relating to the obtaining of the bond finance referred to in this agreement, then in all such events, the suspensive condition relating to the obtaining of mortgage finance shall be deemed to have been fulfilled timeously. 16.5 Subject to the provisions of Clause 16.4 above, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid by the PURCHASER together with interest thereon and the parties shall have no further claims against each other. 16.6 Subject to the provisions of Clause 16.2, the SELLER shall be responsible for all Attorney costs incidental to the registration of the aforementioned bond. Notwithstanding the content of the aforesaid, the PURCHASER shall be responsible for all the Bank's fees including, but not limited to, the initiation fee and should the PURCHASER not be able to sign the transfer and bond documentation at the offices of the SELLER'S ATTORNEYS, the PURCHASER shall be liable and pay a correspondent's fee in the amount of R1 000.00 to the SELLER'S ATTORNEY immediately upon request. 16.7 All transfer, bond and other incidental costs or charges that may be or may become payable by the PURCHASER in terms of this agreement, shall be payable to the transfer and/or bond Attorneys within 2 (two) days of request by such Attorneys. 16.8 In addition to other claims that the SELLER might have against the PURCHASER in terms of this agreement or common law it is specifically agreed that should the Agreement be cancelled after granting of the required bond due to the PURCHASER’S action that all costs incurred plus penalty charges in the amount of R 20 000.00 (Twenty Thousand Rand) will be due and payable by the PURCHASER to the SELLER being the SELLER’S pre-estimated damages, provided that such pre-estimated damages does not significantly exceed the harm suffered by the SELLER.

MORTGAGE BOND. 16.1 This AGREEMENT is 3.1 Should an amount be inserted at clause 5 on page 3 regarding the obtainment of a mortgage bond, then the agreement shall be subject to a mortgage bond of the said amount being granted to the Purchaser on normal terms and conditions as laid down by a commercial bank on security of the Property or any other acceptable security. 3.2 In the event of the bond not being granted or approved in principle by the said date, the Seller shall have the right to extend the period for further periods of 30 (thirty) days each, in order to obtain such bond, without notice to the Purchaser. 3.3 Should this transaction be subject to the PURCHASER obtaining a bond in principle from a bank on its usual terms in the amount as specified in Clause 11 of the Annexure "A" if any. In this regard, it is specifically recorded that the PURCHASER shall be obliged to source his/ her/ its bond finance from such mortgage originator appointed by the SELLER in writing. The PURCHASER shall take all steps, do all things and sign all documents required by such originator for the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration obtainment of a mortgage bond, the PURCHASER Purchaser herewith irrevocably grants the Seller in conjunction with the Mortgage Consultants the sole right to apply on behalf of the Purchaser for mortgage finance from any financial institution. The Purchaser or any third party shall not be entitled to directly apply for such bond. The Purchaser undertakes to provide the Mortgage Consultants with the required documentation within 7 (seven) days after signature hereof. 3.4 In order to further enhance the administration and the registration process in the development, the Seller makes it a specific term of this agreement that all mortgage bonds which forms part of this transaction, must be registered by the Conveyancers, failing which the Seller have the right to cancel this agreement. This clause is to the benefit of the Seller, who may waive it in writing. 3.5 The Purchaser shall be liable for all costs incidental payment of bond registration costs, as well as the bond granting bank's valuation and administration costs. If, however, the bond is granted by ABSA Bank, First National Bank, Nedcor Bank or Standard Bank, the Seller shall pay the Purchaser's bond registration costs, for the purchase amount, excluding any administration, valuation, assessment and any other fees levied by the lending bank to the registration of the Mortgage Bond that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 (two) days of requestPurchaser. 16.2 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within 21 (twenty one) days of date of signature hereof by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition relating to the obtaining of the bond finance referred to in this agreement, then in all such events, the suspensive condition relating to the obtaining of mortgage finance shall be deemed to have been fulfilled timeously. 16.5 Subject to the provisions of Clause 16.4 above, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid by the PURCHASER together with interest thereon and the parties shall have no further claims against each other.

MORTGAGE BOND. 16.1 This AGREEMENT is subject to 5.1 Should the PURCHASER obtaining fail to procure a bond loan facility for the amount set out in principle the SCHEDULE from a bank on its usual terms or other financial institution, within the period specified in the amount SCHEDULE, upon the security of a First Mortgage Bond to be registered over the property, at such conditions as specified are stipulated by the said bank or financial institution, this Agreement will lapse and be of no further force or effect. 5.2 This condition will be fulfilled if the loan is approved in Clause 11 of principle by the Annexure "A" if any. In this regard, it is specifically recorded date set out in the SCHEDULE notwithstanding that the actual allocation of such loan takes place after the specified date. 5.3 The PURCHASER shall be obliged hereby agrees and undertakes to source his/ her/ its bond finance from such mortgage originator appointed by do all things requisite and necessary, including the SELLER signing of any documents in writingorder to apply for the said loan. The PURCHASER is specifically referred to clause F of the Schedule and the provisions relating to MORTGAGE SA. 5.4 Notwithstanding the provisions of 5.1 above, the SELLER shall take all steps, do all things and sign all documents required by such originator have the right in its sole discretion to extend the period allowed for the purposes obtaining of pursuing any mortgage bond application required in terms hereofa Mortgage Bond. ICS 5.5 Should the PURCHASER not source his / her bond finance from application for a loan be refused or should the mortgage originator appointed by loan be granted for a lesser amount than the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bondloan amount, the PURCHASER shall immediately inform the SELLER in which event the SELLER or MORTGAGE SA shall have the right to arrange for an alternative financial institution to advance the loan amount to the PURCHASER within 14 days of being advised, that his loan has been refused or approved for a lesser amount. INITIAL HERE PURCHASER PURCHASER SELLER AGENT WITNESS WITNESS 5.6 The transferring attorney facilitates the payment of progress draws and can only effectively control this process by direct involvement in the bond registration process. The parties accordingly agree that ICS ATTORNEYS will be liable for all costs incidental appointed to attend to the registration of the Mortgage Bond that would have been payable Bond, subject to an approval from the Bank and shall not be negotiable by either party on confirmation by ICS ATTORNEYS to the SELLER. In such event, Seller and the PURCHASER shall pay all bond registration costs Purchaser within 2 7 (twoseven) days of request. 16.2 The PURCHASER binds his utmost good faith receipt of Bond Approved in pursuing mortgage bond finance Principal that ICS ATTORNEYS are represented on the “panel” of said Purchaser’s Financial Institution as aforesaid contemplated herein. Should ICS Attorneys not be represented on the panel of a particular financial institution, then the said ICS Attorneys and ensuring that the sellers shall have the sole right to nominate an alternative firm of attorneys for the registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid relevant mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 5.7 In the event of the PURCHASERPurchaser electing to fund the purchase price detailed herein, despite his/ her/ its best effortsin ‘cash’ the Purchaser irrevocably agrees that the appointed architect of the development, not obtaining such bond within 21 (twenty one) days Xxxxxxx Xxxxxx, will value the works, for purposes of date determining the quantum of signature hereof the progress payment. 5.8 The valuation determined by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT architect shall be null final and voidbinding on both contracting parties. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition relating to the obtaining of the bond finance referred to in this agreement, then in all such events, the suspensive condition relating to the obtaining of mortgage finance shall be deemed to have been fulfilled timeously. 16.5 Subject to the provisions of Clause 16.4 above, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid by the PURCHASER together with interest thereon and the parties shall have no further claims against each other.

MORTGAGE BOND. 16.1 21.1 This AGREEMENT offer is subject to the PURCHASER obtaining approval of a bond in principle from quotation by a bank on its usual terms in financial institution for an amount of not less than the amount as specified stipulated in Clause 11 clause 8.1 of the Annexure "A" if any. In this regardAgreement of sale. 21.2 The Purchaser authorizes the bond originator to exploit all reasonable sources of bond financing on his behalf, it is specifically recorded that and undertakes to furnish the PURCHASER shall be obliged bond originator with the necessary documentation to source his/ her/ its bond finance from such mortgage originator appointed by the SELLER in writing. The PURCHASER shall take all steps, do all things and sign all documents required by such originator apply for the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bond, the PURCHASER shall be liable for all costs incidental to the registration of the Mortgage Bond that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 5 (twoFive) days after acceptance of requestthis offer to purchase. 16.2 21.3 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected approval must be given by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within no later than 21 (twenty one) days of acceptance from the date of signature hereof acceptance in this agreement. 21.4 Should loan approval not be obtained in the said 21 (twenty one) days, the time period for loan approval, shall be extended, at the sole and absolute discretion of the Seller, for a further period of 30 (thirty) days from the initial expiry date, and the Purchaser shall be notified in writing of the Sellers election to award the said extension of a further 30 (thirty) days. 21.5 Notwithstanding anything contained herein to the contrary and in the event the Purchaser utilises the services of the Agents Bond Originator, the Purchaser undertakes to within 5 (five) calendar days from request therefore by the SELLER or within such extended period as Agent’s Bond Originator/the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 Agent provide the Agents Bond Originator with all the required documentation to enable the Originator to apply for the loan on the Purchasers behalf. In the event of the PURCHASER failing Purchaser for whatsoever reason does not within the aforesaid time period provide to make application for such mortgage bond and/or failing to provide the information and/or Agent’s Bond Originator all the required documentation required for the processing of such application timeously and/or frustrating, by any acts or omissionsas requested, the fulfillment of the suspensive condition relating to the obtaining of the bond finance Suspensive Condition referred to in this agreement, then in all such events, above shall be accepted as being waived by the suspensive condition relating to the obtaining of mortgage finance Purchaser alternatively shall be deemed to have been fulfilled timeously. 16.5 Subject be fulfilled. In the event the Purchaser elects to apply for bond finance personally then and in such event the Purchaser must, within 5 (five) calendar days from date that confirmation of the acceptance hereof by the seller is forwarded to the provisions of Clause 16.4 abovePurchaser, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund furnish to the PURCHASER such deposit as may have Agent proof that bond financing has been paid applied for by the PURCHASER together Purchaser. Should the Purchaser for whatsoever reason not within the aforesaid time period provide to the Agent with interest thereon and the parties required proof that an application for bond financing was submitted by the Purchaser the Suspensive Condition referred to above shall have no further claims against each otherbe accepted as being waived by the Purchaser alternatively shall be deemed to be fulfilled.

MORTGAGE BOND. 16.1 This AGREEMENT 4.1.1 If this Agreement reflects a mortgage bond in Item F3 of the Schedule, then this Agreement is subject to and conditional upon the PURCHASER Purchaser obtaining a loan for the amount set out in Item F3 of the Schedule from a recognized financial institution and the Seller receiving a copy of the written approval of such loan by the aforesaid financial institution within 30 (thirty) days from the Date of Signature of the Agreement by the Seller or within such further period of time that the Seller, entirely in its own discretion may grant to the Purchaser in writing. 4.1.2 The Purchaser undertakes to utilize one of the Seller’s accredited bond originators in making application for the aforesaid loan. 4.1.3 It is the intention of the Seller and the Purchaser that the Conveyancers be appointed by the financial institution to attend to the registration of the mortgage bond in principle from a bank on its usual terms in the amount as specified in Clause 11 favour of the Annexure "A" if anyaforesaid financial institution on Date of Transfer. The Purchaser undertakes to utilise his best endeavours to prevail upon the aforesaid financial institution to appoint the Conveyancers in this regard. 4.1.4 It is specifically recorded that on or about the Date of Occupation the financial institution granting the mortgage bond shall require the Purchaser to sign a Letter of Satisfaction. In no way detracting from the Seller or Purchaser’s rights in this regardAgreement or in terms of Law, it is specifically recorded and agreed that the PURCHASER Purchaser shall be obliged in no way delay or refuse to source his/ her/ its bond finance from such mortgage originator appointed by comply with his obligations to timeously and on request sign the SELLER in writingaforesaid Letter of Satisfaction. The PURCHASER shall take all stepsIn this regard the Purchaser is specifically referred to his rights as set out under clauses 9 below, do all things and sign all documents required by such originator for accepts the purposes of pursuing any mortgage bond application required in terms hereof. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment provisions of the purchase price by the PURCHASER penalties as set out under clause 18 below. 4.1.5 The Purchaser warrants that: 4.1.5.1 he is made in cash without registration of a mortgage bond, the PURCHASER shall be liable for all costs incidental to the registration aware of the Mortgage Bond that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 (two) days financial requirements of request. 16.2 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within 21 (twenty one) days of date of signature hereof by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition institutions relating to the obtaining of the bond finance referred mortgage loan that is to in this agreement, then in all such events, the suspensive condition relating be applied for and undertakes to the obtaining best of mortgage finance shall be deemed his ability to have been fulfilled timeously. 16.5 Subject to the provisions of Clause 16.4 aboveimmediately provide and sign, in the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid upon request by the PURCHASER together with interest thereon relevant financial institution concerned, all information and the parties shall have documentation which may be required by it in order to apply for and approve his loan application; 4.1.5.2 there are no further claims existing judgements noted against each otherhis name which would preclude any financial institution from approving his loan application.

MORTGAGE BOND. 16.1 (IF APPLICABLE) 18.1 This AGREEMENT agreement is subject to the PURCHASER Purchaser obtaining a bond in principle an approved loan from a bank on or other recognised financial institution for not less than the amount (if any) stated in clause 6 of the schedule of information, or any lesser amount acceptable to the Purchaser, upon the security of a first mortgage bond to be registered against the property. 18.2 The Purchaser shall use its usual best endeavours to obtain such loan as soon as is reasonably possible after signature of this agreement by the Seller. 18.3 In the event of such loan not being approved in principal within 30 (thirty) days after signature of this agreement by the Seller then this agreement shall become of no force or effect in which event the Seller shall refund to the Purchaser the amounts paid in terms of clause 2 above together with accrued interest thereon, The Seller shall have the right to extend the 30 (thirty) day period for a further reasonable time, in the amount as specified in Clause 11 of Sellers sole discretion. 18.4 A quotation from a financial institution or the Annexure "A" if any. In this regardSeller, it is specifically recorded confirming that the PURCHASER bond is granted in principal, shall suffice for fulfilment of this suspensive condition. Should the Purchaser fail to furnish the Conveyancers with a quotation from a financial institution that the bond was not granted, this suppressive condition shall be obliged deemed to source his/ her/ its be fulfilled, alternatively the transaction shall be deemed not to be subject to the Purchaser obtaining bond finance from such mortgage originator appointed by finance. 18.5 Should the SELLER in writing. The PURCHASER Purchaser fail to apply for a bond the Seller shall take all steps, do all things and sign all documents required by such be entitled to appoint a bank or a bond originator for the purposes of pursuing any mortgage bond application granting loan finance to the Purchaser for the purchase of the property in which event the Seller or its agent is hereby irrevocably authorised and empowered to apply to the bank so appointed for the required loan on behalf of the Purchaser. The Purchaser shall be obliged to furnish the information normally requested by banks to the bank so appointed in terms hereoforder to assess the granting of the required loan. If the Purchaser is a company, close corporation, trust or married woman, and the loan is granted subject to the condition that the directors, shareholders, members, trustees and/or spouse as the case may be, shall bind themselves as sureties and co- principal debtors with the Purchaser, the Purchaser undertakes to procure the signatures of such people. Should the PURCHASER not source his / her bond finance from the mortgage originator appointed by the SELLER, then unless payment of the purchase price by the PURCHASER is made in cash without registration of a mortgage bondSeller so arrange such loan finance, the PURCHASER shall be liable for all costs incidental to the registration provisions of the Mortgage Bond that would have been payable by the SELLER. In such event, the PURCHASER shall pay all bond registration costs within 2 (two) days of request. 16.2 The PURCHASER binds his utmost good faith in pursuing mortgage bond finance as aforesaid and ensuring that registration of the mortgage bond is effected by the SELLER'S ATTORNEYS. Should the PURCHASER fail to endeavour to ensure that the financial institution attending to his mortgage bond registration, instructs the SELLER'S ATTORNEYS to effect registration of the mortgage bond concerned, alternatively, directly or indirectly whether by act or omission, frustrates the appointment of the SELLER'S ATTORNEYS for the purpose of registering the aforesaid mortgage bond, then unless otherwise agreed to in writing by the SELLER, the PURCHASER shall become liaible for the transfer costs that would have been payable by the SELLER. In such event, the PURCHASER shall pay all transfer costs within 2 (two) days of request. 16.3 In the event of the PURCHASER, despite his/ her/ its best efforts, not obtaining such bond within 21 (twenty one) days of date of signature hereof by the SELLER or within such extended period as the SELLER in its sole discretion may determine; then in that event, this AGREEMENT shall be null and void. 16.4 In the event of the PURCHASER failing to make application for such mortgage bond and/or failing to provide the information and/or documentation required for the processing of such application timeously and/or frustrating, by any acts or omissions, the fulfillment of the suspensive condition relating to the obtaining of the bond finance referred to in this agreement, then in all such events, the suspensive condition relating to the obtaining of mortgage finance clause 18.1 shall be deemed to have been fulfilled timeously. 16.5 Subject and the Purchaser shall be obliged to sign all bond and other documentation to give effect thereto and to pay all costs and charges relating to the provisions registration of Clause 16.4 above, in a first mortgage bond over the event that this agreement shall become null and void in terms of Clause 16.3 above, then the SELLER'S ATTORNEYS shall refund to the PURCHASER such deposit as may have been paid by the PURCHASER together with interest thereon and the parties shall have no further claims against each otherproperty.