Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p56
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 140242–143002

date of effect of the Instalment Relief; and
          (ii) unpaid interest where agreed instalments are reduced as a result of the grant of Instalment Relief.
    8.5 Transfer of Land and Subsidy
    In the event that the Certificate of Entitlement states that the Commonwealth consents to a Transfer of Land and Subsidy and the Bank consents to such transfer after application of the lending criteria set out in Schedule "C" then the Commonwealth shall continue to pay Subsidy in accordance with the terms of this Agreement.
    8.6 Fees
    The Bank agrees that an Entitled Applicant and/or Borrower will pay no other fees and no more in fees with respect to all applications for Subsidised Advances, Instalment Relief and consents to Transfer of Land and Subsidy to the Bank than its other Housing Loan Customers. Nothing herein prevents the Bank from charging an Entitled Applicant less than the fees paid by its other Housing Loan Customers.

SCHEDULE 1—continued
    8.7 Failure to meet lending criteria
    In the event that a Certificate of Entitlement indicates that:
    (i) a Subsidised Advance is to be a widow's advance;
    (ii) a Subsidised Avance is to be made for essential repairs; or
    (iii) Instalment Relief is to be granted,
   and the Entitled Applicant fails to meet the lending criteria set out in Schedule "C", the Bank agrees:
       (a) that the Bank shall provide to the Commonwealth its reasons in writing as to why the Entitled Applicant has failed to meet the lending criteria set out in Schedule "C"; and
       (b) at the election of the Commonwealth, the Bank and the Commonwealth shall meet to discuss what arrangements, if any, suitable to the Bank and the Commonwealth can be made whereby the Bank will provide the advance or instalment relief to the Entitled Applicant.
    8.8 Further Loans/Instalment Relief
   Nothing hereunder shall operate in any way to restrict the ability of a Borrower to approach the Bank for such further loans and/or instalment relief as the Borrower may in his discretion require, in which event the Bank hereby undertakes to treat such loan and/or instalment relief applications in their ordinary and usual course of banking business and treat the Borrower as it would treat a Housing Loan Customer seeking a single loan. In particular, the Bank agrees that where a Borrower applies for another loan at the same time as applying for a Subsidised Advance it will charge the Borrower one set of Establishment Fees covering both the Subsidised Advance and the further loan and secure both advances under the same first mortgage.
9. EXCESS CREDITS
    9.1 Provision of Excess Credit Arrangement
    Where a Borrower pays to the Bank an amount of Excess Credits then the Bank agrees to provide