Common use of MORTGAGE BOND Clause in Contracts

MORTGAGE BOND. 4.1 In the event of the purchaser requiring a mortgage bond for the amount referred to in clause 3.2 above, this condition will be deemed to have been fulfilled upon a financial institution lodging a letter, acceptable to the conveyancers, confirming that a mortgage bond has been granted to the purchaser upon the normal terms and conditions applicable to home loans. It is expressly recorded that a "pledge/pre-bond approval" does not constitute the necessary approval in terms of this agreement. 4.2 The seller shall be entitled to extend the said 30-day period by a further period of 30 days at its sole discretion and the purchaser hereby authorises the seller and/or the agent to assist in the obtaining of the mortgage bond. The purchaser hereby agrees to supply such information as may be required by the financial institution to enable the financial institution to consider the purchaser's application. 4.3 In the event of the purchaser not providing the necessary information to the financial institution within 10 days of being called upon to do so by the financial institution, the agent or, alternatively by the bond originator handling the application on behalf of the purchaser, and the mortgage bond not being granted on due date then the seller shall be entitled to cancel this agreement and retain the deposit paid in accordance with the provisions of clause 2.1 above.

MORTGAGE BOND. 4.1 In the event of the purchaser requiring a mortgage bond for the amount referred to in clause 3.2 above, this condition will be deemed to have been fulfilled upon a financial institution lodging a letter, acceptable to the conveyancers, confirming that a mortgage bond has been granted to the purchaser upon the normal terms and conditions applicable to home loans. It is expressly recorded that a "pledge/pre-bond approval" does not constitute the necessary approval in terms of this agreement. 4.2 The seller shall be entitled to extend the said 30-day period by a further period of 30 days at its sole discretion and the purchaser hereby authorises the seller and/or the agent to assist in the obtaining of the mortgage bond. The purchaser hereby agrees to supply such information as may be required by the financial institution to enable the financial institution to consider the purchaser's application. 4.3 In the event of the purchaser not providing the necessary information to the financial institution within 10 days of being called upon to do so by the financial institution, the agent or, alternatively by the bond originator handling the application on behalf of the purchaser, and the mortgage bond not being granted on due date then the seller shall be entitled to cancel this agreement and retain the deposit paid in accordance with the provisions of clause 2.1 1.1.1 above.

MORTGAGE BOND. 4.1 In the event of the purchaser requiring a mortgage bond for the amount referred to in clause 3.2 above, this condition will be deemed to have been fulfilled upon a financial institution lodging a letter, acceptable to the conveyancers, confirming that a mortgage bond has been granted to the purchaser upon the normal terms and conditions applicable to home loans. It is expressly recorded that a "pledge/pre-pre- bond approval" does not constitute the necessary approval in terms of this agreement. 4.2 The seller shall be entitled to extend the said 30-day period by a further period of 30 days at its sole discretion and the purchaser hereby authorises the seller and/or the agent to assist in the obtaining of the mortgage bond. The purchaser hereby agrees to supply such information as may be required by the financial institution to enable the financial institution to consider the purchaser's application. 4.3 In the event of the purchaser not providing the necessary information to the financial institution within 10 days of being called upon to do so by the financial institution, the agent or, alternatively by the bond originator handling the application on behalf of the purchaser, and the mortgage bond not being granted on due date then the seller shall be entitled to cancel this agreement and retain the deposit paid in accordance with the provisions of clause 2.1 above.

MORTGAGE BOND. 4.1 In the event of the purchaser requiring a mortgage bond for the amount referred to in clause 3.2 above, this condition will be deemed to have been fulfilled upon a financial institution lodging a letter, acceptable to the conveyancers, confirming that a mortgage bond has been granted to the purchaser upon the normal terms and conditions applicable to home loans. It is expressly recorded that a "pledge/pre-pre- bond approval" does not constitute the necessary approval in terms of this agreement. 4.2 The seller shall be entitled to extend the said 30-day period by a further period of 30 days at its sole discretion and the purchaser hereby authorises the seller and/or the agent to assist in the obtaining of the mortgage bond. The purchaser hereby agrees to supply such information as may be required by the financial institution to enable the financial institution to consider the purchaser's application. 4.3 In the event of the purchaser not providing the necessary information to the financial institution within 10 days of being called upon to do so by the financial institution, the agent or, alternatively by the bond originator handling the application on behalf of the purchaser, and the mortgage bond not being granted on due date then the seller shall be entitled to cancel this agreement and retain the deposit paid in accordance with the provisions of clause 2.1 0 above.