400
THE NEW ZEALAND GAZETTE.
[No. 14

10. (1) Before making a progress payment in respect of an advance to a settler the Superintendent shall require an inspection to be made of the security, and for each such inspection (including inspections under Regulation 16) the mortgagor shall pay an inspection fee at the rate set out in Part I of the Eighth Schedule hereto.

(2) Where the mortgagor requires an inspection of the security for any purpose other than the making of a progress payment, he shall pay an inspection fee equal to the valuation fee payable on the amount of the loan.

ADVANCES TO WORKERS.

11. Every application for an advance under Part III of the said Act to erect a dwellinghouse shall be in the form in Part I of the Fourth Schedule hereto, or to the effect thereof, and every application for an advance under Part III of the said Act to acquire an existing dwellinghouse shall be in the form in Part II of the Fourth Schedule hereto, or to the effect thereof.

12. (1) No such application shall be considered by the Board until the fee for the valuation of the proposed security has been duly paid by the applicant.

(2) If the application is refused without a valuation of the proposed security having been made, or if the applicant declines to accept the advance offered to him by the Board, the Superintendent may refund to the applicant the whole, or such part as he thinks just, of the valuation fee so paid.

13. (1) Valuation and inspection fees shall be paid by the applicant in accordance with the scale set forth in Part II of the Eighth Schedule hereto.

(2) Where the mortgagor requires an inspection of the security for any purpose other than the making of a progress payment, he shall pay an inspection fee equal to the valuation fee payable on the loan.

14. (1) Mortgages under the Land Transfer Act, 1915, shall, if the applicant’s title is free from encumbrance, be prepared and completed free of charge to mortgagors, with the exception of the repayment of cash disbursements, which shall be deducted from the advance.

(2) Except as herein otherwise provided, the scale of costs and fees set out in Part I or Part II of the Ninth Schedule hereto shall apply to advances to workers.

GENERAL AS TO ADVANCES TO SETTLERS, WORKERS, AND ADVANCES UNDER THE RURAL ADVANCES ACT, 1926.

15. (1) The Superintendent, with the sanction of the Board, may decline to proceed with the payment of an advance which the Board has resolved to grant if the title in respect of the security for such advance is not delivered to the Superintendent or to his agent or solicitor within one month after the applicant for the advance has received notice of the resolution of the Board.

(2) The Superintendent may also decline to proceed with any application for an advance if and so long as the applicant fails to furnish the particulars required by the Superintendent with respect to the security.

16. Where an advance is made by way of progress payments for the purpose of erecting a dwellinghouse, the Superintendent may require three inspections of the building to be made, the first when the frame of the building is up and the roof is on, the second when the building is lined and the rusticated boarding fixed, and the third when the dwellinghouse is completed.

ADVANCES UNDER SECTION 22 OF THE STATE ADVANCES AMENDMENT ACT, 1922.

17. Every application for an advance under section 22 of the State Advances Amendment Act, 1922, shall be in the form in the Sixth Schedule hereto or to the effect thereof.

18. (1) No such application shall be considered by the Board until the appropriate fee for the valuation of the proposed security has been duly paid by the applicant.

(2) If such application is refused without a valuation of the proposed security having been made, or if the applicant declines to accept the advance offered to him by the Board, the Superintendent may refund to the applicant the whole or such part, as he thinks just, of the valuation fee so paid.

(3) The amount of the said valuation fee shall be determined by reference to the amount of the advance for which application is made, in accordance with the scale set forth in Part III of the Eighth Schedule hereto, as the case may require.

(4) If the Superintendent requires a further inspection before making any payment the applicant shall pay an inspection fee at the rate set out in Part III of the Eighth Schedule hereto.

19. With respect to such advances the form of instrument by way of security in Part I of the Seventh Schedule hereto shall be used for mortgages of stock and chattels under the Chattels Transfer Act, 1924, and the forms of mortgage in Parts II and III of the Seventh Schedule hereto shall be used for mortgages of land held under the Land Transfer Act, 1915, and land registered under the Deeds Registration Act, 1908, respectively.

20. The costs and fees for the preparation and completion of the said instruments by way of security shall be determined in accordance with the scale set forth in Part III of the Ninth Schedule hereto, as the case may require. The costs and fees for the preparation and completion of the said mortgages of land shall be the same as those set out in Parts I and II of the Ninth Schedule hereto. Such costs and fees shall be deducted by the Superintendent from the amounts of the advances agreed to be granted.