Veterans’ Land Act — V-1.5 11
 the purchase price payable by a veteran may be extended over a term not in excess of ten years for the payment of livestock and farm equipment and not in excess of thirty years for the payment of land and improvements thereon and building material; and (g) that livestock and farm equipment shall be sold under this subsection only to a veteran who at the time of such sale enters into a contract under this subsection or has a subsisting contract under this subsection for the purchase of land from the Director or who occupies land under a rental or purchase agreement satisfactory to the Director, and the cost to the Director of such livestock and equipment shall not exceed forty per cent of (i) the value, as estimated by the Director, of the land and improvements thereon sold to the veteran and the cost to the Director of building materials sold to the veteran, and (ii) the value of any land occupied by that veteran under a rental or purchase agreement as estimated by the Director. Additional assistance under ss. (1) (4) Where a veteran who entered into a contract with the Director under subsection (3), under which the total cost to the Director was less than five thousand eight hundred dollars, pays in full his indebtedness to the Director thereunder, the Director may enter into a contract with the veteran under subsection (1) subject to the following conditions: (a) that the cost to the Director of the land, improvements, building materials, livestock and farm equipment shall not exceed six thousand dollars less the total cost to the Director under the contract entered into between the Director and the veteran under subsection (3); and (b) that the total cost to the Director under the contract entered into under subsection (3), less the sum paid before contract made and the sale price paid by the veteran, and the cost to the Director under the contract under subsection (1) after deduction of any sum paid before contract made and the sale price payable thereunder, does not exceed two thousand three hundred and twenty dollars, and subject to the conditions set forth in paragraphs (1)(b),(d),(e),(f) and (g). Sale, assignment or other disposition only after all commitments met (5) A veteran who has entered into a contract with the Director under subsection (1) or (3) may not during the term of that contract sell, assign or otherwise dispose of the subject-matter of that contract or any part thereof, except by lease entered into with the permission of the Director after the expiration of ten years from the effective date provided in the contract, unless payment is made in full to the Director of (a) the total outstanding cost to the Director of the land, improvements, livestock and farm equipment; (b) interest charges at the rate specified in the contract and accruing to the day of payment on the total outstanding cost to the Director; and (c) all other amounts owing by the veteran to the Director and secured under the contract. Conveyance or transfer (6) Except upon payment in full to the Director of the amounts set out in paragraphs (5)(a),(b) and (c), no conveyance or transfer of any land being purchased by a veteran from the Director under subsection (1) or (3) shall be given by the Director to the veteran unless (a) ten years have elapsed since the effective date provided in the contract; and (b) the veteran has complied with the terms of the contract throughout that ten-year period. Where contract for sale of livestock and equipment (7) Notwithstanding subsection (5), in the case of any contract for the sale of livestock and equipment made between the Director and a veteran who occupies land under a rental or purchase agreement and who subsequently enters into a contract to buy land from the Director before the terms of the contract for the sale of livestock and equipment have been completely fulfilled, the Director shall not give a conveyance or transfer in respect of the said land or improvements thereon or building materia