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Residential Loan Agreement General Terms And Conditions St George

October 4, 2021 / lanphear / Uncategorized

23 14 Types of repayment This loan agreement has four methods of repayment: repayments and interest repayments; only interest repayments; progressive refunds during the deduction period; and capitalized interest. Your method or method of refund is or is indicated in the offer, unless we have agreed in writing that you may change your refund method. If you have a capitalized interest repayment method, the offer explains it. 15 Principal and Interest Repayments 15.1 We charge principal and interest repayments in such a way that, during the period in which they are due, the balance due at the beginning of the period on your loan account; and all: interest costs; and any royalties; and all government fees and taxes incurred or payable during the period are reimbursed during the period. Under this method, the portion of each repayment that repays the balance due at the beginning of the period on your loan account gradually increases throughout the period, but the repayments are the same as long as the interest rate is equal; and any other fees or amounts that we communicate to you as included in the refund amount remain constant. However, the final repayment may vary, since it corresponds to the total amount due on the last day of the credit term. Principal and interest repayments will be rounded to the next dollar. 23 11 (d) Additional Inspections We may at any time require the expert or quantitative expert appointed by us to inspect the site and certify that the construction work has been satisfactorily completed to the extent agreed and in accordance with the approved plans and specifications provided to us (you must provide any additional information or documents reasonably required by the expert or expert in quantity (e) Completion Date If the He construction work is not completed and the final advance is made within six months from the date of the first loan advance, we may refuse further credit advances. 3.5 Prerequisites for the final advance of the loan We do not need to make the final advance of the loan, unless the following additional conditions are met: (a) Insurance We must obtain a copy of an insurance policy or exchange certificate satisfactory to us, which, if necessary, gives our interests the mortgage credit attesting that the ownership of the guarantee is insured on a replacement and restoration basis. and at least for those who are safe in the offer. (b) Inspections The expert or quantitative expert appointed by us must inspect the site and certify that the construction work has been satisfactorily completed in accordance with the plans and specifications communicated to us by the Council.

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