Land and Land Settlement in Western Australia; Advance Sheets of Part VII. of the Western Australian Year-Book for 1902-4

Land and Land Settlement in Western Australia; Advance Sheets of Part VII. of the Western Australian Year-Book for 1902-4

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 edition. Excerpt: ...for fresh water, reservoirs, and buildings. It is the policy of the bank to have its securities fenced before the full amount of a loan is paid, and if the manager considers that a suflicient area of the security offered is not securely fenced, such fencing as he considers necessary may be done concurrently with the proposed improvements. The maximum amount that can be advanced under this Act is three-fourths of the fair estimated value of the proposed improvements, such advances must not exceed in the aggregate the sum of 800. All moneys are paid over in progress payments as the improvements are completed. Interest is payable on the actual sum advanced at the rate of 5 per cent. per annum, and each loan has a currency of 30 years, but may be repaid at any time at the option of the borrower without notice to the bank, and in the event of sale the bank offers no objection (except in the case of an undesirable client) to the purchaser taking over an existing mortgage. Under the Amendment Acts, 1902-4, the manager is empowered to make advances to farmers and cultivators of the soil on the security of improved holdings for the following purposes: --(a.) To pay off liabilities already existing on holdings. (b.) To carry on farming and grazing, agricultural, horti-cultural, or viticultural pursuits on their holdings. (0.) To add to improvements already made on their holdings. The amount that may be advanced under this Act must not exceed two-thirds of the fair estimated value of the lands with the improvements thereon. In the case of horticultural and viticultural lands, the proportion is fixed at one-half. At least one-third of all approved loans must be expended in further improvements. The balance (two-thirds) may be applied with the...show more

Product details

  • Paperback | 82 pages
  • 189 x 246 x 4mm | 163g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123691497X
  • 9781236914972