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. 13.2 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 that he/she/it earns sufficient to obtain the bond in the amount indicated. 14 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.
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Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
