Veterans’ Land Regulations — 32
cation to the Director for financial assistance under Part I or III of the Act the repayment of which is to be secured by a contract of sale to be entered into pursuant to the Act, or a veteran or other person has a subsisting contract of sale under Part I or III of the Act, (b) the veteran or other person wishes to obtain a loan under the New Brunswick Housing Act in such amount and subject to such repayment terms as would require the veteran or other person to give to the New Brunswick Housing Corporation a mortgage, hypothec, lien or charge on the land, and (c) the veteran or other person gives to the Director and the New Brunswick Housing Corporation a non-revocable direction and an undertaking (i) to give to the Corporation, if required by it, when title to the land is transferred from the Director to the veteran or other person pursuant to the contract of sale referred to in paragraph (a), a mortgage, hypothec, lien or charge in favour of the Corporation, or to repay to the Corporation the amount of the loan before the title to the land is so transferred, and (ii) not to sell, assign or otherwise dispose of the land without the consent of the Director and the Corporation, the Director may grant permission to the veteran or other person to obtain the loan. (12) Where the Director grants permission to a veteran or other person under subsection (11) to obtain a loan in respect of any land, the direction and undertaking of the veteran or other person given pursuant to that subsection forthwith becomes part of (a) the application for financial assistance and the contract of sale to be entered into, or (b) the subsisting contract of sale, referred to therein, as the case may be. (13) To facilitate the making of a loan in respect of any land to a veteran or other person by the New Brunswick Housing Corporation, pursuant to subsection (11), the Director may enter into an undertaking with the Corporation not to permit any conveyance, assignment or other disposition, except by way of rescission or cancellation, of the interest of the veteran or other person in the land under any contract entered into between the Director and the veteran pursuant to the Act or any subsisting contract referred to in subsection (11), unless the veteran or other person (a) pays to the Corporation his outstanding indebtedness to the Corporation; or (b) makes arrangements satisfactory to the Corporation for the registration by the Corporation, in the Land Registry Office for the district in which the land is situated, of a mortgage, hypothec, lien or charge against the title of the veteran or other person to the land to secure the amount of his indebtedness to the Corporation. (14) Where a veteran or other person who has a subsisting contract of sale under Part I or III of the Act, (a) wishes to obtain, in respect of the land to which that contract relates, a loan or grant under the Housing Development Act of Nova Scotia, of such amount and on such repayment terms that an owner would be required, under ordinary circumstances, to give to the Nova Scotia Housing Commission a mortgage on that land, and (b) gives to the Director and the Nova Scotia Housing Commission a non-revocable direction and undertaking (i) to give to the Commission a mortgage in favour of it, if required by the Commission when title to the land is transferred from the Director to the veteran or other person pursuant to the contract of sale or to repay to the Commission the amount of the loan or grant before the title to the land is so transferred, and (ii) not to sell, assign or otherwise dispose of the land without the consent of the Director and the Commission, the Director may grant permission to the veteran or other person to obtain the loan or grant. (15) Where the Director grants permission to a veteran or other person under subsection (14) to obtain a loan or grant in respect of any land, the direction and undertaking of the veteran or other person given pursuant to that subsec