Interpretation

1  (1)  In this regulation:

"Act" means the Homeowner Interest Assistance Act;

"benefit period" means the period commencing on October 1, 1982 and ending at midnight on September 30, 1985;

"eligible mortgage indebtedness" means an amount determined under section 3;

"maximum interest rate" means the maximum interest rate as set out in section 4 that is applicable at the time when the interest rate on a mortgage is determined;

"manufactured home" means a manufactured home as defined in the Manufactured Home Act and that is registered under that Act;

"mortgage" includes an agreement for the sale of land and, in respect of a manufactured home, includes a conditional sale agreement and an assignment of the purchaser's interest in a conditional sale agreement as security for a loan, but does not include a contract for the hiring of goods, with or without an option to become the owner of the goods;

"mortgagee" includes a vendor under an agreement for the sale of land and, in respect of a manufactured home, includes a conditional seller and the lender under an assignment, as security for a loan, of the purchaser's interest in a conditional sale agreement as described in the definition of "mortgage";

"principal residence" means the usual place where a resident homeowner permanently resident in British Columbia makes his home and that is

(a) land that is shown as a single parcel in the records of a land title office and that has, as an improvement, the building in which the resident homeowner resides,

(b) a residential strata lot shown in a strata plan registered in a land title office,

(c) a manufactured home, or

(d) an apartment referred to in paragraph (d) of the definition of "resident homeowner" in this subsection;

"program" means the British Columbia Home Program referred to in section 2;

"renewal", in relation to a mortgage, includes an agreement modifying or extending an existing mortgage if the agreement changes the interest rate or the principal amount owing under the mortgage;

"resident homeowner" means an individual who is

(a) the registered owner and mortgagor of land on which he has his principal residence,

(b) the purchaser under a registered agreement for sale of land on which he has his principal residence,

(c) the registered owner of a manufactured home that he occupies as his principal residence and which is encumbered by a chattel mortgage or conditional sale agreement, or

(d) the registered owner and mortgagor of a registered lease, having a term of at least 99 years, of an apartment he occupies as his principal residence and that is located in an apartment building designated by the Lieutenant Governor in Council for the purposes of the Home Owner Grant Act;

"spouse" includes a man or woman not married to each other but who have lived together as husband and wife for a continuous period of not less than 2 years before the filing of an application by either of them for benefits under the program, but does not include a husband or a wife who is separated and living apart and who

(a) has entered into a written agreement under which the husband and wife have agreed to live apart, or

(b) is subject to an order of the court recognizing the separation.

(2)  For the purposes of section 5 (6) of the Act and section 23 of this regulation, "homeowner" means

(a) a resident homeowner as defined in subsection (1), and

(b) where the interest of a resident homeowner in land or a manufactured home is an interest held by him in common or jointly with one or more persons who, by reason of not being principally resident on the land or in the manufactured home, are not resident homeowners as defined in subsection (1), those persons.

(3)  For the purpose of section 5 (9) of the Act, "securities" includes judgments and claims of lien under the Builders Lien Act.

(4)  For the purpose of section 5 (9) of the Act, "securities" does not include a mortgage in favour of the Crown in right of the Province under the Home Purchase Assistance Act.

[am. B.C. Reg. 539/82, s. 1.]

 Program established

2  A program called the British Columbia Home Program is established under which the government may advance money to a resident homeowner in order to reduce the effect of interest charges payable in respect of the principal residence of a person who qualifies for assistance under this regulation.

 Eligibility under the program — general

3  (1)  Subject to the other provisions of this regulation, while the interest rate payable on a resident homeowner's mortgage on his principal residence exceeds an annual interest rate of 12%, he qualifies, in respect of his eligible mortgage indebtedness, for interest reimbursement advances in an amount calculated in accordance with this regulation for the shorter of the benefit period or the term of the mortgage.

(2)  For the purposes of this regulation, "eligible mortgage indebtedness" means the first $60 000 or less of the total amount owing by a resident homeowner under his registered mortgages, including the first and any subsequent mortgages, in proportion to

(a) his interest in the principal residence if he is or he and other resident homeowners are the sole owners of the residence, or

(b) his interest in relation to the interest of those of the owners who are resident homeowners, if the residence is partly owned by resident homeowners and by persons who are not resident homeowners

at the time he becomes eligible for interest reimbursement advances under this regulation in respect of an existing, new or renewal mortgage.

(3)  Where the resident homeowner's principal residence is encumbered by more than one mortgage, the minister shall determine the resident homeowner's eligible mortgage indebtedness by considering each of the mortgages in turn in order of priority of registration, first counting the indebtedness under the first mortgage, then the indebtedness under the second mortgage, and so on until the balance under each mortgage has been taken into account, or until the maximum eligible mortgage indebtedness of $60 000 is reached, whichever occurs first.

 Maximum interest rate for purposes of calculating benefits

4  (1)  The maximum interest rate for the purpose of determining monthly interest reimbursement advances payable to a resident homeowner under the program shall be as set out in this section.

(2)  Subject to subsections (4) and (5), the maximum interest rate applicable to a resident homeowner's eligible mortgage indebtedness in respect of mortgages registered, or a renewal made, on or before October 1, 1982, shall be the lesser of

(a) the annual interest rate stipulated in the mortgage or renewal, as the case may be, or, in the case of a variable interest rate mortgage described in section 9 or a renewal of it, the annual interest rate that would yield the fixed monthly payment under the mortgage or renewal, or

(b) an annual interest rate of 18%.

(3)  Subject to subsections (4) and (5), the maximum interest rate applicable to a resident homeowner's eligible mortgage indebtedness in respect of new mortgages registered after October 1, 1982, renewals of them, or renewals, after October 1, 1982, of mortgages referred to in subsection (2), shall be the lesser of

(a) the annual interest rate stipulated in the mortgage or renewal, as the case may be, or, in the case of a variable interest rate mortgage described in section 9 or a renewal of it, the annual interest rate that would yield the fixed monthly payment under the mortgage or renewal, or

(b) the annual interest rate that is, at the date of registration of the mortgage or the date of a renewal of it, required for closed one year term insured loans under the National Housing Act (Canada), plus

(i)  .5% in the case of a first mortgage or a renewal of it, or

(ii)  3% in the case of a second or subsequent mortgage or a renewal of either.

(4)  The maximum interest rate determined under subsection (2) or (3) for a mortgage or renewal of it, other than a variable interest rate mortgage as described in section 9 or a renewal of it, shall remain in effect until the earliest of the expiration of its term, its renewal before that date or the end of the benefit period.

(5)  The maximum interest rate determined under subsection (2) or (3) for a variable interest rate mortgage as described in section 9 or a renewal of it shall remain in effect until the earliest of the anniversary date of the resident homeowner's application for benefits, the expiration of the term of the mortgage, its renewal before that date or the end of the benefit period.

[am. B.C. Reg. 539/82, s. 2.]

 Calculation of interest

5  (1)  Whenever interest is required to be calculated for the purposes of this regulation, it is to be calculated at the rate of interest specified and compounded semiannually not in advance.

(2)  Regardless of how frequently interest is to be compounded under the provisions of a mortgage that secures a resident homeowner's eligible mortgage indebtedness, the minister shall

(a) determine what the monthly principal and interest component payable under the mortgage would be at the rate of interest specified in the mortgage and compounded semiannually not in advance, and

(b) use the amount so determined for the purpose of calculating the interest reimbursement advances payable under this regulation to the resident homeowner.

 Interest reimbursement advances — amortization 25 years or under

6  Subject to the other provisions of this regulation, where the amortization period under a mortgage that secures a resident homeowner's eligible mortgage indebtedness is 25 years or less, the resident homeowner is entitled to interest reimbursement advances in a monthly amount calculated as follows:

STEP 1: Ascertain which is the lower amount,

(a) the monthly principal and interest component determined under section 5 (2) that is applicable to the resident homeowner's eligible mortgage indebtedness, or

(b) the monthly amount that would comprise the principal and interest component of the payment on the resident homeowner's eligible mortgage indebtedness if interest were calculated at the maximum interest rate.

STEP 2: Subtract from that lower amount the monthly amount that would comprise the principal and interest component of the payment on the resident homeowner's eligible mortgage indebtedness at an annual interest rate of 12%, and the difference is the monthly amount of interest reimbursement advances to which the resident homeowner is entitled.

 Same, where amortization is an indefinite period or is more than 25 years

7  Where the amortization period under a mortgage that secures a resident homeowner's eligible mortgage indebtedness is an indefinite period or is more than 25 years, the resident homeowner is entitled to interest reimbursement advances in a monthly amount calculated in accordance with section 6 as if the mortgage were amortized over 25 years and contained the monthly payment of principal and interest component corresponding to that amortization period.

[en. B.C. Reg. 539/82, s. 3.]

 Same, when the mortgage is a graduated payment mortgage

8  Where a mortgage that secures a resident homeowner's eligible mortgage indebtedness is a graduated payment mortgage, the resident homeowner is entitled to interest reimbursement advances in a monthly amount calculated in accordance with section 6 or 7 as if the mortgage contained the same monthly payment of principal and interest component as would a conventional mortgage in the same amount, bearing interest at the same rate and having the same amortization period.

 Same, variable interest rate mortgages

9  Where the payments on a mortgage that secures a resident homeowner's eligible mortgage indebtedness are fixed but the interest rate is variable, the resident homeowner is entitled to interest reimbursement advances in a monthly amount calculated in accordance with section 6 or 7 as if the interest rate were fixed at the level that would yield the fixed monthly payment.

 Reduction in eligible mortgage indebtedness for mortgage with no fixed schedule of payments

10  Notwithstanding any other provision of this regulation, where a resident homeowner's principal residence is encumbered by a mortgage that does not provide for fixed regular payments of principal and interest, or of interest only, the amount of the resident homeowner's eligible mortgage indebtedness shall be reduced by the amount owing by him under the mortgage in the appropriate proportion as calculated under section 3 (2).

 Reduction in eligible mortgage indebtedness for section 40 N.H.A. mortgages

11  Notwithstanding any other provision of this regulation, where a resident homeowner's principal residence is encumbered by a mortgage granted by him to secure a loan under the Rural and Remote Housing Program established under section 79 of the National Housing Act (Canada), the amount of the resident homeowner's eligible mortgage indebtedness shall be reduced by the amount owing by him under the mortgage pursuant to section 79 of that Act in the appropriate proportion as calculated under section 3 (2).

 Recipient of section 56.1 N.H.A. assistance ineligible

12  A person who is receiving a contribution from Canada Mortgage and Housing Corporation under section 95 of the National Housing Act (Canada) in respect of interest payable under a loan secured against his principal residence is not eligible for interest reimbursement advances under this regulation.

 Restrictions on entitlement under the program

13  (1)  A resident homeowner and his spouse are entitled to interest reimbursement advances under the program in respect of no more than one principal residence at one time.

(2)  A resident homeowner is not entitled to receive interest reimbursement advances under the program for a period commencing earlier than 12 months preceding the receipt of his application under this regulation.

(3)  A resident homeowner is not entitled to receive interest reimbursement advances under the program totalling more than $9 385 in the aggregate.

(4)  A resident homeowner is not entitled to receive interest reimbursement advances under the program unless he submits an application that the minister considers full and complete.

(5)  Where the amount of a resident homeowner's monthly interest reimbursement advance would be less than $10, he is not eligible for interest reimbursement advances.

 Designation of one resident homeowner and one account to receive all benefits

14  (1)  The minister shall make all interest reimbursement advances payable in respect of a principal residence in accordance with the appropriate authorization and direction given in compliance with this section.

(2)  Where a dwelling is the principal residence of only one resident homeowner, he shall not receive interest reimbursement advances under the program unless and until he authorizes and directs the minister to send the advances to an account maintained in a savings institution by the resident homeowner.

(3)  Where a dwelling is the principal residence of 2 or more persons who are resident homeowners or the dwelling is owned partly by one or more such persons and partly by one or more persons who do not principally reside in it, then none of the persons who are resident homeowners shall receive interest reimbursement advances under the program unless all of the owners of the dwelling

(a) apply jointly for the interest reimbursement advances to be paid for those applicants who are resident homeowners, and

(b) authorize and direct the minister to send the interest reimbursement advances to an account maintained in a savings institution by one of the resident homeowners whom all of the applicants shall designate at the time of application.

(4)  During any period while the minister has notice that an authorization and direction referred to in subsection (2) or (3) stands revoked or is withdrawn by any of the persons from whom it is required, the minister shall suspend payment of the interest reimbursement advances that would otherwise be due to the resident homeowner or homeowners, as the case may be.

(5)  As soon as the minister has notice that a new authorization and direction under subsection (2) or (3) is given by all of the persons from whom it is required, he shall resume the payment of the interest reimbursement advances to which the resident homeowner is, or the resident homeowners are, entitled under this regulation, and he shall also pay to the resident homeowner or homeowners the total amount of the suspended interest reimbursement advances.

 Suspension of benefits pending registration of government security

15  (1)  Where a certificate referred to in section 5 of the Act is not registrable by reason of an incorrect legal description or other deficiency, the minister shall suspend payment of the interest reimbursement advances due to the resident homeowner until he supplies to the minister sufficient information to correct the legal description or other deficiency.

(2)  As soon as he is satisfied that the certificate as amended is in registrable form, the minister shall resume the payment of the interest reimbursement advances to which the resident homeowner is entitled under this regulation, and he shall also pay to the resident homeowner the total amount of the suspended interest reimbursement advances.

 Suspension of benefits during legal proceedings

16  (1)  Where

(a) the minister receives notice of

(i)  a lis pendens filed in a land title office, or

(ii)  a caution filed in a manufactured home registry office

in a proceeding under a mortgage ranking ahead of the government's mortgage created under section 5 (6) of the Act, and

(b) the proceeding affects a principal residence in respect of which a resident homeowner is receiving benefits under the program,

the minister shall suspend payment of the interest reimbursement advances, that would otherwise be due to the resident homeowner, during the period

(c) commencing on the date the minister receives notice of the lis pendens or caution, and

(d) ending when and if the minister is satisfied that the proceeding has been discontinued, dismissed or otherwise ended

and the mortgage that was the subject of the proceeding and any other mortgages ranking ahead of the government's charge against the principal residence have been placed in good standing.

(2)  When the minister is satisfied that a proceeding is ended and the prior mortgages are placed in good standing as set out in subsection (1), the minister shall resume the payment of the interest reimbursement advances to which the resident homeowner is entitled under this regulation, and he shall also pay to the resident homeowner the total amount of the suspended interest reimbursement advances.

(3)  Where the interest of the resident homeowner in the principal residence is foreclosed, cancelled or otherwise ended as the result of a judgment in a proceeding referred to in subsection (1), the resident homeowner shall not receive the interest reimbursement advances that were suspended, and the resident homeowner must requalify under this regulation in order to receive any further benefits under the program.

 Duty of mortgagee to provide information

17  The mortgagee shall, without fee, provide and verify any information that is required by a resident homeowner with respect to his mortgage for the purposes of this regulation.

 Application form to be provided

18  (1)  An applicant for interest reimbursement advances under the program must apply in the form provided by the minister.

(2)  For the purposes of subsection (1), the minister shall request on every application form information related to a principal residence, including

(a) each resident homeowner's name and Social Insurance Number,

(b) the resident homeowner's mailing address and occupation,

(c) the legal description of the principal residence,

(d) with respect to each mortgage or renewal of mortgage,

(i)  the principal amount outstanding at the beginning of the term of the mortgage or at the date of the renewal,

(ii)  the interest rate at the beginning of the term of the mortgage or at the date of the renewal,

(iii)  the remaining amortization period at the beginning of the term of the mortgage or at the date of the renewal,

(iv)  the last renewal date of the mortgage,

(v)  the next renewal date of the mortgage, and

(vi)  a declaration by the mortgagee verifying the information described in subparagraphs (i) to (v), and

(e) a declaration by the resident homeowner verifying the information described in paragraphs (a) to (d) and stating that he is a resident of British Columbia.

 Obtaining updated information

19  (1)  When a resident homeowner's mortgage is renewed or the anniversary of the effective date of the resident homeowner's first benefit is reached, the minister shall request information relating to any changes in

(a) the amortization period, the principal outstanding or the interest rate of the mortgage, and

(b) the resident homeowner's circumstances that affect his eligibility for interest reimbursement payments.

(2)  The resident homeowner shall provide the information requested by the minister under subsection (1).

(2.1)  Notwithstanding subsection (1), where the renewal date of a mortgage is within 3 months before or after the anniversary referred to in subsection (1), the minister need not make the request for information referred to in that subsection as of both those dates, but may do so as of either of them.

(3)  The minister shall use any information he obtains pursuant to subsection (1) to recalculate the amount of a resident homeowner's interest reimbursement advances.

[am. B.C. Reg. 403/83.]

 Provision of information by resident homeowner

20  A resident homeowner who receives interest reimbursement advances under this regulation shall

(a) immediately notify the minister of any change in his circumstances that affects his eligibility for interest reimbursement payments or the amount of those payments, and

(b) immediately provide or authorize the release of any information referred to in section 18 or 19 on the request of the minister.

 Record keeping requirements

21  For the purposes of section 20, a resident homeowner shall maintain records relating to

(a) proof of ownership or acquisition of the principal residence for which he is receiving interest reimbursement advances, and

(b) the mortgages with respect to which he is receiving interest reimbursement advances.

 Repayment of interest reimbursement advances

22  (1)  Subject to subsections (2) to (5), the total amount of all interest reimbursement advances paid to a resident homeowner under the program becomes due and shall be repaid to the government by all the persons named in the application form and in the certificate under section 5 of the Act on September 30, 1986 or on any sale, transmission or other disposition before that date of the interest of any of those persons in the principal residence which is the subject of the application or certificate.

(2)  The amount referred to in subsection (1) shall not become due before September 30, 1986 by reason of

(a) a disposition of an interest in the residence by mortgage or other charge other than a right to purchase,

(b) a disposition of an interest in the residence from any of the owners to another of them or to the spouse of any of them, if at least one of the owners of the residence continues to be principally resident in it,

(c) a transmission consequent on the death of a joint tenant to a surviving joint tenant, if at least one of the owners of the residence continues to be principally resident in it,

(d) a transmission consequent on the death of an owner of the residence of his interest in it to his personal representative, if

(i)  another of the owners or the spouse of the deceased owner is the person beneficially entitled to the deceased owner's interest in the residence, and

(ii)  the spouse of the deceased owner or at least one of the surviving owners of the residence continues to be principally resident in it, and

(e) a disposition by a personal representative referred to in paragraph (d) to the spouse or other owner, as the case may be, who is beneficially entitled, if at least one of the owners or the spouse continues to be principally resident in the residence.

(3)  During any period while the minister has notice of a sale, transmission or other disposition other than a disposition by mortgage or other charge other than a right to purchase, of the interest of any of the owners of a residence that is the subject of an application for benefits under the program or of a certificate under section 5 of the Act, the minister shall suspend payment of the interest reimbursement advances that would otherwise be due to the resident homeowner.

(4)  Where the minister suspends interest reimbursement advances under subsection (3) he shall, if he ascertains that the sale, transmission or other disposition is one of those described in subsection (2), resume the payment of interest reimbursement advances to the resident homeowner or homeowners entitled to them, in accordance with an authorization, that meets the requirements of section 14, of all of the then current owners of the residence, and he shall also pay to the resident homeowner or homeowners the total amount of the suspended interest reimbursement advances.

(5)  Where the minister suspends interest reimbursement advances under subsection (3) and he ascertains that the sale, transmission or other disposition is not one of those described in subsection (2), the resident homeowner shall not receive the interest reimbursement advances that were suspended and the minister shall require repayment of the money due under subsection (1).

[en. B.C. Reg. 539/82, s. 4; am. B.C. Reg. 402/83, s.1.]

 Certain registrations permitted subject to certificate under section 5 of the Act

22.1  The registrar of titles or registrar of manufactured homes may register a transfer or conveyance of an interest in land or a manufactured home mortgaged under section 5 of the Act, subject to the mortgage so created, where

(a) the transfer or conveyance is a disposition described in section 22 (2) (a) or a transmission described in section 22 (2) (c) or (d), or

(b) the minister has advised the registrar in writing that he is satisfied that the transfer or conveyance is a disposition described in section 22 (2) (b) or (e).

[en. B.C. Reg. 402/83, s. 2.]

 Terms and conditions of mortgages created under section 5 of the Act

23  In addition to any terms and conditions stated in a certificate under section 5 of the Act, the terms and conditions of the mortgage that is, under section 5 (6) of the Act, deemed to be created on registration of the certificate shall be as follows:

(a) where the certificate is registered in a land title office in respect of

(i)  a single parcel of land other than a strata lot, the terms and conditions set out in Schedule 1,

(ii)  a strata lot, the terms and conditions set out in Schedules 1 and 2,

(iii)  a homeowner's leasehold estate in respect of an apartment referred to in paragraph (d) of the definition of "resident homeowner", the terms and conditions set out in Schedule 3,

(iv)  a homeowner's interest in an agreement for sale of a parcel of land other than a strata lot, the terms and conditions set out in Schedule 4, or

(v)  a homeowner's interest in an agreement for sale of a strata lot, the terms and conditions set out in Schedules 2 and 4;

(b) where a certificate is registered in a manufactured home registry office in respect of

(i)  a manufactured home encumbered by a chattel mortgage, the terms and conditions set out in Schedule 5, or

(ii)  a manufactured home the homeowner is acquiring under a conditional sale agreement, the terms and conditions set out in Schedule 6.

 Form of security for interest reimbursement advances

24  The certificate referred to in section 5 (1) of the Act shall, where it is to be registered in a land title office, be in the form of certificate set out in Schedule 7 and, where it is to be registered in a manufactured home registry, be in the form of certificate set out in Schedule 8.

 Offence

25  (1)  No person shall make a statement on any form required to be submitted under this regulation that is false in any material respect.

(2)  A person who contravenes subsection (1) commits an offence.

  (1)  In consideration of the advances to be made by the mortgagee to the mortgagor under the program from time to time up to the maximum principal sum of $9 385 of lawful money of Canada, the mortgagor does hereby grant and mortgage to the mortgagee all and singular that certain parcel or tract of land and premises (herein called the "Land") described in the certificate and all of the mortgagor's interest in it subject to the prior mortgages.

(2)  Provided this mortgage to be void

(a) on payment of $9 385, payable on September 30, 1986;

(b) and on payment of taxes and performance of statute labour;

(c) and on observance and performance by the mortgagor of all covenants, provisos and conditions herein on the part of the mortgagor to be observed and performed.

(2.1)  The mortgagee agrees that, whether this mortgage is registered in the land title office before or after a mortgage given by the mortgagor to the Crown in the right of the Province under the Home Purchase Assistance Act, this mortgage shall rank in priority after the mortgage so given under that Act, and the mortgagee postpones this mortgage to that mortgage.

[en. B.C. Reg. 539/82, s. 6.]

(3)  The mortgagor covenants with the mortgagee that the mortgagor shall pay the mortgage money and observe the above provisos; and that the mortgagor shall pay, as and when the same may be demanded, all or any taxes, liens, assessments, encumbrances or other charges that may at any time during the continuance of this security be levied on or constitute a charge against the Land; and that the mortgagor has a good title in fee simple to the Land, subject to prior mortgages; and that the mortgagor has the right to convey the Land to the mortgagee, subject to prior mortgages; and that, on default, the mortgagee shall have quiet possession of the Land, free from all encumbrances, subject to prior mortgages; and that the mortgagor shall execute such further assurances of the Land as may be requisite; and that the mortgagor has done no act to encumber the Land, subject to prior mortgages; and that the mortgagor shall not suffer or permit a lien to be registered against the Land under the Builders Lien Act or other legislation of like effect in force from time to time; and that the mortgagor shall insure the buildings on the Land to an amount not less than their full insurable value in currency; and that the mortgagor shall observe and perform all of the covenants and provisos contained in this mortgage that are required to be observed and performed by him; and that the mortgagor shall pay and discharge as they become due all payments due and owing under the prior mortgages and shall observe and perform and carry out all of the covenants, agreements and provisos contained in them that are required to be observed and performed by him; and the mortgagor does hereby release to the mortgagee all his claims upon the Land, subject to the above provisos.

(4)  Provided that any default under the prior mortgages or other charge ranking ahead of this mortgage shall be deemed to be and constitute a default hereunder and the full principal amount secured hereunder, and all other money payable hereunder shall, at the option of the mortgagee, become immediately due and payable.

(5)  Provided that if the mortgagor defaults in the payment of any money payable under the prior mortgages or any other charge upon the Land ranking ahead of this mortgage or defaults in the performance or observance of any of the covenants, agreements or provisos contained therein or fails to rectify and make good any default of the mortgagor under the prior mortgages or other charge, the mortgagee may rectify or make good the default and all costs, charges, expenses or outlays made by the mortgagee to rectify the default, together with all costs and expenses incidental thereto incurred by the mortgagee, shall be added to the principal money hereby secured and the money shall be payable forthwith by the mortgagor without demand and shall be a charge on the Land until paid, and the mortgagee shall have the right to enforce its remedies for payment of money paid by the mortgagee in the same way and to the same extent as it could enforce any remedies to secure payment of any money due and payable hereunder.

(6)  Provided that the mortgagor, not being in default hereunder, shall have the privilege of prepaying at any time, without notice or bonus, the full balance of the principal owing.

(7)  Provided that upon any default whatsoever on the part of the mortgagor in payment of the principal sum hereby secured or in the payment of taxes or other charges upon the Land or any part thereof, at the time and in the manner herein specified, or otherwise, or in the performance of any of the covenants herein contained, then and in such case the whole of the money hereby secured shall forthwith, without notice, become due and payable; and in the event of a default the mortgagee may on one month's notice enter upon the Land and shall have, in addition to any other remedies available to the mortgagee at law or equity, full power and authority:

(a) to take possession of the Land;

(b) to demand, recover and receive all income of the Land by action, distress or otherwise and to give effectual receipts for the same;

(c) to lease or sell the Land without entering into possession of it;

and that any sale or subletting may be either for cash or on credit, or part cash and part credit, and by private sale or public auction without the mortgagee being responsible for any loss or deficiency on any sale or lease and for such rental or prices as can be reasonably obtained; and at the sale or by the lease, the whole or any part or parts of the Land may be sold or leased; and that the mortgagee may vary or rescind any contract of sale or lease made by virtue of these presents, and may buy in and resell or relet the Land, or any part thereof, either by private sale or public auction, without being responsible for any loss or deficiency on resale or reletting; and that the resale or reletting may be upon such terms as to credit or otherwise as to the mortgagee shall seem appropriate, and for such prices or rentals as can reasonably be obtained therefore; and the mortgagee may make any stipulation as to title or evidence, or commencement of title, or otherwise as the mortgagee may deem proper, and that no purchaser or lessee under the powers herein contained shall be bound to inquire into the legality or regularity of any sale or lease; and that out of the money arising out of any sale or lease the mortgagee shall be entitled to retain the principal sum then unpaid under this mortgage and all other sums secured hereby, together with all expenses incurred in or about taking, recovering or keeping possession of the Land, or the selling or leasing of the mortgagor's interest in the Land or otherwise by reason of any default of the mortgagor hereunder, including solicitor's fees and disbursements as between solicitor and client; and that any balance of monies remaining after the satisfaction of all claims of the mortgagee, as hereinbefore provided, shall be paid to the mortgagor, but the mortgagee shall in no event be accountable for any money except that actually received; and that such powers of sale may be exercised by the mortgagee without having entered into possession of the Land. Notwithstanding the powers of the mortgagee herein described, the mortgagee, its successors and assigns, shall have and be entitled to exercise the right of foreclosure of and to foreclose the mortgagor's equity of redemption and shall be entitled to all rights and remedies available at law or at equity, and to the benefit of any statutory powers of sale or other remedies.

(8)  Provided that the mortgagee may distrain for arrears of principal without regard to the value of the Land and whether or not the goods are on the Land.

(9)  Provided further that any tender by the mortgagor of arrears or lawful costs or charges at or after the time that the acceleration provisions herein contained shall come into effect shall not affect or prejudice the mortgagee's right to demand and to proceed for the whole balance of principal and all other money of whatever nature hereby secured.

(10)  Provided that the mortgagee or agent of the mortgagee may, at any time, enter upon the Land to inspect the Land and buildings thereon.

(11)  Provided that neither the existence of the provisos relating to distraint for arrears and to entry upon the Land, nor anything done by virtue thereof, shall render the mortgagee a mortgagee in possession, so as to be accountable for any monies except those actually received.

(12)  Provided that no extension of time given by the mortgagee to the mortgagor, or anyone claiming under him, or any other dealing by the mortgagee with the owner of the equity of redemption of the Land, shall in any way affect or prejudice the rights of the mortgagee against the mortgagor or any other person liable for payment of the monies hereby secured.

(13)  Provided that in the event of a sale, transfer, conveyance, assignment or any other disposition, except a disposition by mortgage or other charge, of the interest of the mortgagor in the Land, the entire balance of principal shall become immediately due and payable.

(14)  Provided that until default of payment, the mortgagor shall have quiet possession of the Land.

(15)  It is hereby agreed and declared

(a) that in these presents the expression

"mortgagee" includes that member of the Executive Council of the Province of British Columbia charged with the administration of the Homeowner Interest Assistance Act and the successors and assigns of Her Majesty the Queen in Right of the Province of British Columbia,

"mortgagor" includes the heirs, executors, administrators, successors and assigns of the mortgagor, and

"prior mortgages" means any mortgage of the mortgagor's interest in the Land that is registered in the land title office and that ranks ahead of this mortgage in priority;

(b) that in these presents words in the singular include the plural and words in the plural include the singular, and words importing the masculine gender include the feminine and neuter genders where the context so requires;

(c) that all covenants, liabilities and obligations entered into or imposed on the mortgagor hereunder are joint and several; and

(d) that this mortgage is made in pursuance of the Land Transfer Form Act.

(16)  And the mortgagor acknowledges and agrees that no failure on the part of the mortgagee to exercise and no delay in exercising any right under these presents shall operate as a waiver thereof nor shall any single or partial exercise by the mortgagee of any right herein contained preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided shall be cumulative and not exclusive of any other remedies provided by law and all remedies stipulated for the mortgagee herein shall be deemed to be in addition to and not restrictive of the remedies of a mortgagee at law or in equity.

(17)  The taking of a judgment on any of the covenants herein contained shall not operate as a merger of any such covenant.

The mortgagor covenants and agrees with the mortgagee that

(a) the mortgagor shall comply with, observe and perform all provisions of the Condominium Act and regulations under it and any subsequent legislation or regulation of like effect and the bylaws, rules and regulations in force from time to time of the strata corporation of which the mortgagor is a member by virtue of his ownership of his strata lot;

(b) the mortgagor shall pay, on or before the due dates thereof, each and every assessment, contribution, charge, fine or levy made by or on behalf of the strata corporation in respect of the strata lot charged hereunder (hereinafter collectively called "Assessments"); Provided that the mortgagee shall have the right to pay the Assessments and the amount so paid shall be added to the principal sum hereby secured and shall be due and payable immediately;

(c) the mortgagor shall apply for and forward to the mortgagee from time to time upon request during the term of this mortgage certification from the strata corporation in connection with the strata lot charged hereunder of

(i)  the amount and the manner in which Assessments of the mortgagor are payable,

(ii)  the extent to which the Assessments have been paid,

(iii)  the amount of any money expended by the strata corporation under the Condominium Act on behalf of the mortgagor and not recovered by the strata corporation,

and in addition to the foregoing, the mortgagor hereby irrevocably authorizes the mortgagee to apply at any time and from time to time to the strata corporation for certification of the foregoing in connection with any and all the strata lots described in the certificate;

(d) the mortgagor's power and right to vote, conferred on the mortgagor by or under the Condominium Act as owner of the strata lot described in the certificate, may be exercised by the mortgagee in respect of all matters in relation to which the Condominium Act allows or provides that the mortgagee may vote; such power and rights being hereby assigned, transferred and set over unto the mortgagee and except in relation to the matters upon which the mortgagor's power and right to vote has been assigned pursuant to this paragraph, the mortgagor hereby irrevocably nominates, constitutes and appoints the mortgagee's nominee to be the proxy for the mortgagor, to attend, act and vote in the place and stead and for and on behalf of the mortgagor, at such meetings of the strata corporation as the mortgagee from time to time attends, on any and all matters, at any and all times and occasions where the mortgagor has the power and right to vote, conferred on it by or under the Condominium Act as owner of any of the strata lots and for such purpose the mortgagor shall execute such proxy, whether general or specific, as the mortgagee may hereafter request, the mortgagor hereby irrevocably nominating, constituting and appointing the mortgagee its attorney for the purpose of executing the proxy or proxies, if the mortgagor fails to execute the same; provided that the mortgagee or the mortgagee's nominee shall not be obliged to vote or to protect the interest of the mortgagor and the mortgagee or its nominee shall not be liable to the mortgagor in connection with any consequences of the mortgagee's or its nominee's exercise or failure to exercise such right to vote pursuant to this paragraph or any such proxy; provided further that nothing herein contained shall constitute or be deemed to constitute the mortgagee a mortgagee in possession;

(e) if for any reason whatsoever the mortgagor has the right to vote at any meeting of the strata corporation the mortgagor shall, if directed by the mortgagee, vote in such manner as the mortgagee directs with respect to each and every matter to be voted on;

(f) at least 5 days prior to a general meeting of the strata corporation, the mortgagor shall deliver to the mortgagee written notice of the meeting specifying the place, date, hour and purpose of the meeting and in addition, immediately upon receipt of the same, shall deliver to the mortgagee true copies of the bylaws, rules and regulations of the strata corporation from time to time in force, all notices, minutes, resolutions, accounts, financial statements and other documents relating to the financial statements and to the affairs of the strata corporation as the mortgagor may from time to time receive;

(g) if, without the consent of the mortgagee, the bylaws of the strata corporation are amended, or any special resolution directing the strata corporation to transfer or charge or add to the common property or any part thereof is passed, or the strata corporation enters into any contract which has not been approved by the mortgagee, the whole of the principal sum then remaining unpaid and all other money secured hereunder shall, at the option of the mortgagee, notwithstanding the other provisions of this mortgage, forthwith become due and payable; and

(h) a reference in this Schedule to "strata lot" includes the land described in the certificate and the mortgagor's interest in it.

  (1)  In consideration of the advances to be made by the mortgagee to the mortgagor under the program from time to time up to the maximum principal sum of $9 385 of lawful money of Canada, the mortgagor does hereby sublease and mortgage to the mortgagee all and singular that certain parcel or tract of land (herein called the "Land") described in the certificate and the mortgagor's interest and leasehold estate in it.

(2)  To have and to hold unto the mortgagee for and during the term of years from the day of the date of the certificate to the day which is one day before the last day of the term of the mortgagor's leasehold estate in the Land subject to the provisions for cesser hereinafter contained and subject to the prior mortgages.

(3)  Provided this mortgage to be void

(a) on payment of $9 385, payable on September 30, 1986;

(b) and on payment of taxes and performance of statute labour;

(c) and on observance and performance by the mortgagor of all covenants, provisos and conditions herein on the part of the mortgagor to be observed and performed.

(3.1)  The mortgagee agrees that, whether this mortgage is registered in the land title office before or after a mortgage given by the mortgagor to the Crown in the right of the Province under the Home Purchase Assistance Act, this mortgagee shall rank in priority after the mortgage so given under that Act, and the mortgagee postpones this mortgage to that mortgage.

[en. B.C. Reg. 539/82, s. 7.]

(4)  The mortgagor covenants with the mortgagee that the mortgagor shall pay the mortgage money and observe the above provisos; and that the mortgagor shall pay, as and when the same may be demanded, all or any taxes, liens, assessments, encumbrances or other charges that may at any time during the continuance of this security be levied on or constitute a charge against the Land or the mortgagor's leasehold estate in it; and that the mortgagor has a good leasehold title to the Land, subject to prior mortgages; and that the mortgagor has the right to demise, sublet, mortgage and charge his interest in the Land to the mortgagee, subject to prior mortgages; and that, on default, the mortgagee shall have quiet possession of the Land under the terms of his lease free from all encumbrances, subject to prior mortgages; and that the mortgagor shall execute such further assurances of the Land as may be requisite; and that the mortgagor has done no act to encumber the Land, subject to the prior mortgages; and that the mortgagor shall not suffer or permit a lien to be registered against the Land or the mortgagor's leasehold estate under the Builders Lien Act or other legislation of like effect in force from time to time; and that the mortgagor shall insure the buildings on the Land to an amount not less than their full insurable value in currency; and the mortgagor shall perform and observe all of the covenants and provisos contained in this mortgage that are required to be performed and observed by him; and that the mortgagor shall pay and discharge as they become due all payments due and owing under the prior mortgages and shall perform and observe and carry out all of the covenants, agreements and provisos contained in them that are required to be performed and observed by him; and that the mortgagor shall well and faithfully perform and observe the covenants, agreements and provisos contained in his lease of the Land, and all extensions, renewals, replacements, or substitutions of it, including the payment of the rents therein reserved, and shall do no act or be guilty of any default which may cause the lease to be determined, and shall not surrender the lease during the continuance of this security; and that the mortgagor shall not, during the continuance of this mortgage, deal with or assign his lease of the Land or the immediate reversion thereof other than pursuant to the terms of the lease and this mortgage; and that the mortgagor's lease of the Land is a valid and subsisting lease and that the mortgagor has done no act nor suffered any omission to continue whereby the lease has become impaired or invalid, and that the mortgagor has, in himself, a good and valid right to sublet the lease; and the mortgagor does hereby release to the mortgagee all his claims upon the Land, subject to the above provisos.

(5)  Provided that any default under the mortgagor's lease of the Land, prior mortgages or other charge ranking ahead of this mortgage shall be deemed to be and constitute a default hereunder, the full principal amount secured hereunder and all other money payable hereunder shall, at the option of the mortgagee, become immediately due and payable.

(6)  Provided that if the mortgagor defaults in the payment of any money payable under the prior mortgages or any other charge upon the Land ranking ahead of this mortgage or defaults in the performance or observance of any of the covenants, agreements or provisos contained therein or fails to rectify and make good any default of the mortgagor under the prior mortgages or other charge, the mortgagee may rectify or make good the default and all costs, charges, expenses or outlays made by the mortgagee to rectify the default, together with all costs and expenses incidental thereto incurred by the mortgagee, shall be added to the principal money hereby secured and the money shall be payable forthwith by the mortgagor without demand and shall be a charge on the Land until paid, and the mortgagee shall have the right to enforce its remedies for payment of money paid by the mortgagee in the same way and to the same extent as it could enforce any remedies to secure payment of any money due and payable hereunder.

(7)  Provided that the mortgagee, upon becoming aware that the mortgagor is in default under his lease of the Land, may pay any money for rent or otherwise that may be due thereunder and may perform or cause to be performed any of the covenants, agreements and provisos therein contained and otherwise rectify and make good any default committed by the mortgagor, and any money so paid or costs, charges or expenses sustained by the mortgagee incidental thereto shall be added to the principal money hereby secured and shall be secured in the same manner as the original principal amount and shall be forthwith due and payable without demand.

(8)  Provided that the mortgagor, not being in default hereunder, shall have the privilege of prepaying at any time, without notice or bonus, the full balance of the principal owing.

(9)  Provided that upon any default whatsoever on the part of the mortgagor in any payment of the principal sum secured, or in the payment of taxes or other charges upon the Land or any part thereof, at the time and in the manner herein specified, or otherwise, or in the performance of any of the covenants herein contained, then and in such case the whole of the money hereby secured shall forthwith, without notice, become due and payable; and in the event of a default the mortgagee may, on one month's notice, enter upon the Land and shall have, in addition to any other remedies available to the mortgagee at law or equity, full power and authority:

(a) to take possession of the Land;

(b) to demand, recover and receive all income of the Land by action, distress or otherwise and to give effectual receipts for the same;

(c) to sublet, assign or sell the interest of the mortgagor in the Land;

and that any subletting, assignment or sale may be either for cash or on credit, or part cash and part credit, and by private sale or public auction, without being responsible for any loss or deficiency on any sale, assignment or subletting, and for such rental or prices as can be reasonably obtained; and at the sale or by subletting, the whole or any part or parts of the Land or the mortgagor's interest therein may be sold or sublet; and that the mortgagee may vary or rescind any contract of sale or sublease made by virtue of these presents, and may buy in and resell or resublet the Land and the mortgagor's interest therein, or any part thereof, either by private sale or public auction, without being responsible for any loss or deficiency on resale, reassignment or resubletting; and that the resale, reassignment or resubletting may be upon such terms as to credit or otherwise as to the mortgagee shall seem appropriate, and for such prices or rentals as can reasonably be obtained therefore; and the mortgagee may make any stipulation as to title or evidence, or commencement of title, or otherwise as the mortgagee may deem proper, and that no purchaser, assignee or sublessee under the powers herein contained shall be bound to inquire into the legality or regularity of any sale, assignment or sublease; and that out of the money arising out of any sale, assignment or sublease, the mortgagee shall be entitled to retain the principal sum then unpaid under this mortgage and all other sums secured hereby, together with all expenses incurred in or about taking, recovering or keeping possession of the Land, or the selling, assigning or subleasing of the mortgagor's interest in the Land or otherwise by reason of any default of the mortgagor hereunder, including solicitor's fees and disbursements as between solicitor and client; and that any balance of monies remaining after the satisfaction of all claims of the mortgagee, as hereinbefore provided, shall be paid to the mortgagor, but the mortgagee shall in no event be accountable for any money except that actually received; and that such powers of sale may be exercised by the mortgagee without having entered into possession of the Land. Notwithstanding the powers of the mortgagee herein described, the mortgagee, its successors and assigns, shall have and be entitled to exercise the right of foreclosure of and to foreclose the mortgagor's equity of redemption and shall be entitled to all rights and remedies available at law or at equity, and to the benefit of any statutory powers of sale or other remedies.

(10)  Provided that the mortgagee may distrain for arrears of principal without regard to the value of the mortgagor's interest in the Land and whether or not the goods are on the Land.

(11)  Provided further that any tender by the mortgagor of arrears or lawful costs or charges at or after the time that the acceleration provisions herein contained shall come into effect shall not affect or prejudice the mortgagee's right to demand and to proceed for the whole balance of principal and all other money of whatever nature hereby secured.

(12)  Provided that the mortgagee or agent of the mortgagee may, at any time, enter upon the Land to inspect the Land and buildings thereon.

(13)  Provided that neither the existence of the provisos relating to distraint for arrears and to entry upon the Land, nor anything done by virtue thereof, shall render the mortgagee a mortgagee in possession, so as to be accountable for any monies except those actually received.

(14)  Provided that no extension of time given by the mortgagee to the mortgagor, or anyone claiming under him, or any other dealing by the mortgagee with the owner of the equity of redemption of the Land, shall in any way affect or prejudice the rights of the mortgagee against the mortgagor or any other person liable for payment of the monies hereby secured.

(15)  Provided that in the event of a sale, transfer, conveyance, assignment, subletting or any other disposition, except a disposition by mortgage or other charge, of the interest of the mortgagor in the Land, the entire balance of principal shall become immediately due and payable.

(16)  Provided that until default of payment, the mortgagor shall have quiet possession of the Land.

(17)  And for the consideration aforesaid, the mortgagor hereby declares that he shall henceforth stand possessed of the Land and buildings, for the residue vested in him of the term of the mortgagee's lease being the last day thereof (hereinafter called the "Head Term"), in trust for the mortgagee and shall assign and dispose of the Head Term as the mortgagee may direct, but subject to the same right of redemption as is hereby given to the mortgagor with respect to the derivative term hereby granted; and the mortgagor hereby irrevocably appoints the mortgagee as his substitute to be the attorney of him, the mortgagor, for him and on his behalf and in his name or otherwise, to assign the Head Term as the mortgagee shall at any time direct, and in particular upon any sale made by him under the power of sale herein will assign the Head Term to the purchaser, and execute any deeds for that purpose; and it is hereby declared that the mortgagee or other person for the time being entitled to the money hereby secured may at any time, by deed, remove the mortgagor or any other person from being a trustee of the Head Term under the declaration of trust herein, and on the death or removal of the mortgagor or any future trustee of the Head Term may, by deed, appoint a new trustee or trustees in his place; and the mortgagor covenants that he shall, at the request of the mortgagee but at the cost, charge and expense of the mortgagor, grant and assign unto the mortgagee, or whom it may appoint, the Head Term, or any renewal or substituted term; and further, that in the event of the mortgagee making any sale under the power of sale herein given, the mortgagor shall stand seized and possessed of the Land, for the Head Term and of any renewal or substituted term and of all rights of renewal, in trust for the purchaser or purchasers, his or their executors, administrators, successors and assigns.

(18)  And the mortgagor covenants with the mortgagee that he shall at all times, so long as any money remains due on this security, join and concur with the mortgagee in all acts and instruments necessary to procure the renewal, from time to time, of the mortgagee's lease, and that he shall pay all costs, charges and expenses incidental to or occasioned by the renewal, and if the mortgagor refuses or neglects to join or concur in any acts, or to pay the costs, charges or expenses, the mortgagee may effect the renewal or renewals from time to time in its name or otherwise, and it is hereby agreed that all premiums, sums of money, charges and expenses so paid by the mortgagee shall stand charged upon the Land with interest aforesaid, in addition to all other money then secured hereby.

(19)  It is hereby agreed and declared

(a) that in these presents the expression

"mortgagee" includes that member of the Executive Council of the Province of British Columbia charged with the administration of the Homeowner Interest Assistance Act and the successors and assigns of Her Majesty the Queen in Right of the Province of British Columbia,

"mortgagor" includes the heirs, executors, administrators, successors and assigns of the mortgagor, and

"prior mortgages" means any mortgage of the mortgagor's interest in the Land that is registered in the land title office and that ranks ahead of this mortgage in priority;

(b) that in these presents words in the singular include the plural, and words in the plural include the singular, and words importing the masculine gender include the feminine and neuter genders where the context so requires;

(c) that all covenants, liabilities and obligations entered into or imposed on the mortgagor hereunder are joint and several; and

(d) where this mortgage contains any of the forms of words in Column 1 of Schedule 6 of the Land Transfer Form Act, and distinguished by any number in it, this mortgage shall have the same effect and shall be construed as if it contained the form of words in Column 2 of Schedule 6, and distinguished by the same number that is annexed to the form of words used in this mortgage, whether or not that number is inserted in it.

(20)  And the mortgagor acknowledges and agrees that no failure on the part of the mortgagee to exercise and no delay in exercising any right under these presents shall operate as a waiver thereof nor shall any single or partial exercise by the mortgagee of any right herein contained preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided shall be cumulative and not exclusive of any other remedies provided by law and all remedies stipulated for the mortgagee herein shall be deemed to be in addition to and not restrictive of the remedies of a mortgagee at law or in equity.

(21)  The taking of a judgment on any of the covenants herein contained shall not operate as a merger of any such covenant.

(22)  And the mortgagor covenants and agrees that if the mortgagor becomes the owner of the freehold of the Land, this mortgage shall enlarge to constitute and be deemed a mortgage of the freehold to the same extent and effect as if the mortgagor had been the owner of the Land in fee simple free of all encumbrances except the prior mortgages as of the date the certificate is registered in the land title office, and for the purpose of giving effect to the foregoing, the mortgagor hereby grants and mortgages the Land to the mortgagee, subject to the prior mortgages, such grant to take effect on the mortgagor acquiring the freehold.

  (1)  In consideration of the advances to be made by the mortgagee to the mortgagor under the program from time to time up to the maximum principal sum of $9 385 of lawful money of Canada, the mortgagor does hereby grant, assign and mortgage to the mortgagee all and singular that certain parcel or tract of land (herein called the "Land") described in the certificate and all other estate and interest of the mortgagor in the Land arising under his right to purchase the Land.

(2)  Provided this mortgage to be void

(a) on payment of $9 385, payable on September 30, 1986;

(b) and on payment of taxes and performance of statute labour;

(c) and on observance and performance by the mortgagor of all covenants, provisos and conditions herein on the part of the mortgagor to be observed and performed.

(2.1)  The mortgagee agrees that, whether this mortgage is registered in the land title office before or after a mortgage given by the mortgagor to the Crown in the right of the Province under the Home Purchase Assistance Act, this mortgage shall rank in priority after the mortgage so given under that Act, and the mortgagee postpones this mortgage to that mortgage.

[en. B.C. Reg. 539/82, s. 6.]

(3)  The mortgagor covenants with the mortgagee that the mortgagor shall pay the mortgage money and observe the above provisos; and that the mortgagor shall pay, as and when the same may be demanded, all or any taxes, liens, assessments, encumbrances or other charges that may at any time during the continuance of this security be levied on or constitute a charge against the Land or the mortgagor's estate in it; and that the mortgagor has a good title in fee simple to the Land, subject to his right to purchase and any prior mortgages; and that the mortgagor has the right to mortgage and charge his interest in the Land to the mortgagee subject to prior mortgages; and that, on default, the mortgagee shall have quiet possession of the Land under the terms of the mortgagor's right to purchase the Land free from all encumbrances, subject to prior mortgages; and that the mortgagor shall execute such further assurances of the Land as may be requisite; and that the mortgagor has done no act to encumber the Land, subject to prior mortgages; and that the mortgagor shall not suffer or permit a lien to be registered against the Land or his estate in it under the Builders Lien Act or other legislation of like effect in force from time to time; and that the mortgagor shall insure the buildings on the Land to an amount not less than their full insurable value in currency; and the mortgagor shall observe and perform all of the covenants and provisos contained in this mortgage that are required to be observed and performed by him; and that the mortgagor shall pay and discharge as they become due all payments due and owing under the prior mortgages and shall observe and perform and carry out all of the covenants, agreements and provisos contained in them that are required to be observed and performed by him; and that the mortgagor shall well and faithfully observe and perform the covenants, agreements and provisos contained in his right to purchase the Land, and all extensions, renewals, replacements, or substitutions of it, and shall do no act or be guilty of any default which may cause the right to purchase to be determined or foreclosed; and that the mortgagor shall not, during the continuance of this mortgage, deal with or assign his right to purchase the Land; and that his right to purchase the Land is valid and subsisting and that the mortgagor has done no act nor suffered any omission to continue whereby the right to purchase has become impaired or invalid, and that the mortgagor has, in himself, a good and valid right to assign the right to purchase; and the mortgagor does hereby release to the mortgagee all his claims upon the Land, subject to the above proviso.

(4)  Provided that any default under the mortgagor's right to purchase the Land, prior mortgages or other charge ranking ahead of this mortgage shall be deemed to be and constitute a default hereunder and the full principal amount secured hereunder, and all other money payable hereunder, shall, at the option of the mortgagee, become immediately due and payable.

(5)  Provided that if the mortgagor defaults in the payment of any money payable under the prior mortgages or any other charge upon the Land ranking ahead of this mortgage or defaults in the performance or observance of any of the covenants, agreements or provisos contained therein or fails to rectify and make good any default of the mortgagor under the prior mortgages or other charge, the mortgagee may rectify or make good the default and all costs, charges, expenses or outlays made by the mortgagee to rectify the default, together with all costs and expenses incidental thereto incurred by the mortgagee, shall be added to the principal money hereby secured and the money shall be payable forthwith by the mortgagor without demand and shall be a charge on the Land until paid, and the mortgagee shall have the right to enforce its remedies for payment of money paid by the mortgagee in the same way and to the same extent as it could enforce any remedies to secure payment of any money due and payable hereunder.

(6)  Provided that the mortgagee, upon becoming aware that the mortgagor is in default under his right to purchase the Land, may pay any money that may be due thereunder and may perform or cause to be performed any of the covenants, agreements and provisos therein contained and otherwise rectify and make good any default committed by the mortgagor and any money so paid or costs, charges or expenses sustained by the mortgagee incidental thereto shall be added to the principal money hereby secured and shall be secured in the same manner as the original principal amount and shall be forthwith due and payable without demand.

(7)  Provided that the mortgagor, not being in default hereunder, shall have the privilege of prepaying at any time, without notice or bonus, the full balance of the principal owing.

(8)  Provided that upon any default whatsoever on the part of the mortgagor in any payment of the principal sum hereby secured or in the payment of taxes or other charges upon the Land or any part thereof, at the time and in the manner herein specified, or otherwise, or in the performance of any of the covenants herein contained, then and in such case the whole of the money hereby secured shall forthwith, without notice, become due and payable; and in the event of a default, the mortgagee may on one month's notice enter upon the Land and shall have, in addition to any other remedies available to the mortgagee at law or equity, full power and authority:

(a) to take possession of the Land;

(b) to demand, recover and receive all income of the Land by action, distress or otherwise and to give effectual receipts for the same;

(c) to sell, convey, assign, lease or dispose of the interest of the mortgagor in the Land;

and that any lease, sale, assignment or other disposition may be either for cash or on credit, or part cash and part credit, and by private sale or public auction, without being responsible for any loss or deficiency on any sale, assignment or lease, and for such rental or prices as can be reasonably obtained; and at the sale or by leasing, the whole or any part or parts of the Land or the mortgagor's interest therein may be sold or leased; and that the mortgagee may vary or rescind any contract of sale, assignment or lease made by virtue of these presents, and may buy in and resell, reassign or relet the Land, and the mortgagor's interest therein, or any part thereof, either by private sale or public auction, without being responsible for any loss or deficiency on resale, reassignment or reletting; and that the resale, reassignment or reletting may be upon such terms as to credit or otherwise as to the mortgagee shall seem appropriate, and for such prices or rentals as can reasonably be obtained therefore; and the mortgagee may make any stipulation as to title or evidence, or commencement of title, or otherwise as the mortgagee may deem proper, and that no purchaser, assignee or lessee under the powers herein contained shall be bound to inquire into the legality or regularity of any sale, assignment or lease; and that out of the money arising out of any sale, assignment or lease the mortgagee shall be entitled to retain the principal sum then unpaid under this mortgage and all other sums secured hereby, together with all expenses incurred in or about taking, recovering or keeping possession of the Land, or the selling, assigning or letting of the mortgagor's interest in the Land or otherwise by reason of any default of the mortgagor hereunder, including solicitors' fees and disbursements as between solicitor and client; and that any balance of monies remaining after the satisfaction of all claims of the mortgagee, as hereinbefore provided, shall be paid to the mortgagor, but the mortgagee shall in no event be accountable for any money except that actually received; and that such powers of sale may be exercised by the mortgagee without having entered into possession of the Land. Notwithstanding the powers of the mortgagee herein described, the mortgagee, its successors and assigns shall have and be entitled to exercise the right of foreclosure of and to foreclose the mortgagor's equity of redemption and shall be entitled to all rights and remedies available at law or at equity, and to the benefit of any statutory powers of sale or other remedies.

(9)  Provided that the mortgagee may distrain for arrears of principal without regard to the value of the Land and whether or not the goods are on the Land.

(10)  Provided further that any tender by the mortgagor of arrears or lawful costs or charges at or after the time that the acceleration provisions herein contained shall come into effect shall not affect or prejudice the mortgagee's right to demand and to proceed for the whole balance of principal and all other money of whatever nature hereby secured.

(11)  Provided that the mortgagee or agent of the mortgagee may, at any time, enter upon the Land to inspect the Land and buildings thereon.

(12)  Provided that neither the existence of the provisions relating to distraint for arrears and to entry upon the Land, nor anything done by virtue thereof, shall render the mortgagee a mortgagee in possession, so as to be accountable for any monies except those actually received.

(13)  Provided that no extension of time given by the mortgagee to the mortgagor, or anyone claiming under him, or any other dealing by the mortgagee with the owner of the equity of redemption of the Land, shall in any way affect or prejudice the rights of the mortgagee against the mortgagor or any other person liable for payment of the monies hereby secured.

(14)  Provided that in the event of a sale, transfer, conveyance, assignment or any other disposition, except a disposition by mortgage or other charge, of the interest of the mortgagor in the Land, the entire balance of principal owing hereunder shall become immediately due and payable.

(15)  Provided that until default of payment, the mortgagor shall have quiet possession of the Land.

(16)  It is hereby agreed and declared

(a) that in these presents the expression

"mortgagee" includes that member of the Executive Council of the Province of British Columbia charged with the administration of the Homeowner Interest Assistance Act and the successors and assigns of Her Majesty the Queen in Right of the Province of British Columbia,

"mortgagor" includes the heirs, executors, administrators, successors and assigns of the mortgagor, and

"prior mortgages" means any mortgage of the mortgagor's interest in the Land that is registered in the land title office and that ranks ahead of this mortgage in priority;

(b) that in these presents words in the singular include the plural and words in the plural include the singular, and words importing the masculine gender include the feminine and neuter genders where the context so requires;

(c) that all covenants, liabilities and obligations entered into or imposed on the mortgagor hereunder are joint and several; and

(d) where this mortgage contains any of the forms of words in Column 1 of Schedule 6 of the Land Transfer Form Act, and distinguished by any number in it, this mortgage shall have the same effect and shall be construed as if it contained the form of words in Column 2 of Schedule 6, and distinguished by the same number that is annexed to the form of words used in this mortgage, whether or not that number is inserted in it.

(17)  And the mortgagor acknowledges and agrees that no failure on the part of the mortgagee to exercise and no delay in exercising any right under these presents shall operate as a waiver thereof nor shall any single or partial exercise by the mortgagee of any right herein contained preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided shall be cumulative and not exclusive of any other remedies provided by law and all remedies stipulated for the mortgagee herein shall be deemed to be in addition to and not restrictive of the remedies of a mortgagee at law or in equity.

(18)  The taking of a judgment on any of the covenants herein contained shall not operate as a merger of any such covenant.

(19)  And the mortgagor covenants and agrees that if the mortgagor becomes the owner of the freehold of the Land, this mortgage shall enlarge to constitute and be deemed a mortgage of the freehold to the same extent and effect as if the mortgagor had been the owner of the Land in fee simple free of all encumbrances except the prior mortgages at the date the certificate is registered in the land title office and for the purpose of giving effect to the foregoing the mortgagor hereby grants and mortgages the Land to the mortgagee, subject to the prior mortgages, such grant to take effect on the mortgagor acquiring the freehold.

  (1)  In consideration of the advances to be made by the mortgagee to the mortgagor from time to time under the program up to the maximum principal sum of $9 385 of lawful money of Canada, the mortgagor does hereby grant, assign and mortgage forever to the mortgagee the manufactured home (herein called the "Manufactured Home") described in the certificate subject to prior mortgages.

(2)  Provided this mortgage to be void

(a) on payment of $9 385, payable on September 30, 1986;

(b) and on observance and performance by the mortgagor of all covenants, provisos and conditions herein on the part of the mortgagor to be observed and performed.

(2.1)  The mortgagee agrees that, whether this mortgage is registered in the manufactured home registry before or after a mortgage given by the mortgagor to the Crown in the right of the Province under the Home Purchase Assistance Act, this mortgage shall rank in priority after the mortgage so given under that Act, and the mortgagee postpones this mortgage to that mortgage.

[en. B.C. Reg. 539/82, s. 8.]

(3)  The mortgagor covenants with the mortgagee that the mortgagor shall pay the mortgage money and observe the above provisos; and that the mortgagor shall pay, as and when the same may be demanded, all or any taxes, liens, assessments, encumbrances or other charges that may at any time during the continuance of this security be levied on or constitute a security interest in the Manufactured Home; and that the mortgagor exclusively possesses and owns the Manufactured Home free and clear of all encumbrances, subject to prior mortgages; and that the mortgagor shall warrant and defend the Manufactured Home against every person whomsoever; and that the mortgagor has the right to mortgage and assign his interest in the Manufactured Home to the mortgagee subject to prior mortgages; and that, on default, the mortgagee shall have quiet possession of the Manufactured Home free from all encumbrances, subject to the prior mortgages; and that the mortgagor shall execute such further assurances of the mortgagor's interest in the Manufactured Home as may be requisite; and that the mortgagor has done no act to encumber the Manufactured Home subject to the prior mortgages; and that the mortgagor shall insure the Manufactured Home to an amount not less than its full insurable value against loss or damage by fire, and such other perils customarily covered in an extended coverage endorsement, and against theft and does hereby assign to the mortgagee all amounts payable under the insurance; and the mortgagor shall observe and perform all of the covenants and provisos contained in this mortgage that are required to be observed and performed by him; and that the mortgagor shall pay and discharge as they become due all payments due and owing under the prior mortgages and shall observe and perform and carry out all of the covenants, agreements and provisos contained in them that are required to be observed and performed by him; and that the mortgagor shall not remove or allow to be removed either temporarily or permanently the Manufactured Home from the premises where it now is; and that the mortgagor shall make any and all repairs which are necessary to keep the Manufactured Home in as good a condition as it is now; and the mortgagor shall promptly notify the mortgagee of any loss of or damage to the Manufactured Home; and the mortgagor does hereby release to the mortgagee all his claims upon the Manufactured Home, subject to the above provisos.

(4)  Provided that any default under the prior mortgages or other security interest ranking ahead of this mortgage shall be deemed to be and constitute a default hereunder, and the full principal amount secured hereunder and all other money payable hereunder shall, at the option of the mortgagee, become immediately due and payable.

(5)  Provided that if the mortgagor defaults in the payment of any money payable under the prior mortgages or any lien or encumbrance ranking ahead of this mortgage or defaults in the performance or observance of any of the covenants, agreements or provisos contained therein or fails to rectify and make good any default of the mortgagor under the prior mortgages or other liens and encumbrances, the mortgagee may rectify or make good the default and all costs, charges, expenses or outlays made by the mortgagee to rectify the default, together with all costs and expenses incidental thereto incurred by the mortgagee, shall be added to the principal money hereby secured and the money shall be payable forthwith by the mortgagor without demand and shall be a security interest in the Manufactured Home in favour of the mortgagee, until paid, and the mortgagee shall have the right to enforce its remedies for payment of money paid by the mortgagee in the same way and to the same extent as it could enforce any remedies to secure payment of any money due and payable hereunder.

(6)  Provided that the mortgagor, not being in default hereunder, shall have the privilege of prepaying at any time, without notice or bonus, the full balance of the principal owing.

(7)  Provided that should the mortgagor fail to repay when due any sum hereby secured or fail to observe or perform any covenant, term or provision hereof, or should the mortgagee have reasonable cause to believe that its security is in jeopardy, and if any of the noted contingencies shall continue for 20 consecutive days, then the entire balance of the sum secured hereby together with all costs, charges, expenses and other money secured hereby shall become immediately due and payable at the option of the mortgagee. In any and every such case the mortgagee may enter into and upon the lands and premises on which the Manufactured Home may be situated and take possession of it.

(8)  Provided that if the mortgagor has paid at least two-thirds (2/3) of the total amount required to be paid under this mortgage, the mortgagee shall not take possession of the Manufactured Home unless otherwise permitted by law.

(9)  In the event the mortgagee takes possession of the Manufactured Home, the mortgagee shall retain the same for 30 days and, if the Manufactured Home is not redeemed by the mortgagor during that period by payment in full of the balance of any sum secured hereby, with all reasonable costs of taking and keeping possession, the mortgagee may sell the Manufactured Home at any time and from time to time, at public auction or by private sale, and either for cash or credit or part cash and part credit as to the mortgagee may seem best, without notice to the mortgagor. In the event of a sale on credit or for part cash and part credit, the mortgagee shall not be accountable for or charged with any monies until actually received in cash.

(10)  In the event of the mortgagee taking possession of the Manufactured Home, the mortgagee may maintain the same upon the premises on which the same may then be situated and for such purpose shall be entitled to the free use and enjoyment of all necessary buildings, premises and accommodation, and the mortgagor covenants and agrees to provide the same without cost or expense to the mortgagee.

(11)  If the mortgagee takes possession of and sells the Manufactured Home, the mortgagee is hereby authorized to deduct from the proceeds of such sale the balance of any sum secured hereby, and all such costs, charges and expenses as may have been incurred by the mortgagee in the protection and taking possession of the Manufactured Home or in consequence of the mortgagor's action or default, and the surplus, if any thereafter remaining, shall be paid to the mortgagor.

(12)  Provided further that any tender by the mortgagor of arrears or lawful costs or charges at or after the time that the acceleration provisions herein contained shall come into effect shall not affect or prejudice the mortgagee's right to demand and to proceed for the whole balance of principal, and all other money of whatever nature hereby secured.

(13)  Provided that the mortgagee or agent of the mortgagee may, at any time, enter upon the land on which the Manufactured Home is situated to inspect the Manufactured Home.

(14)  Provided that no extension of time given by the mortgagee to the mortgagor shall in any way affect or prejudice the rights of the mortgagee against the mortgagor for payment of the monies hereby secured.

(15)  Provided that in the event of a sale, transfer, assignment or any other disposition, except a disposition by mortgage or other charge, of the Manufactured Home or the interest of the mortgagor in it, the entire balance of principal owing hereunder shall become immediately due and payable.

(16)  Provided that the mortgagor may distrain for arrears of principal without regard to the value of the Manufactured Home and whether or not the goods are located in it.

(17)  It is hereby agreed and declared

(a) that in these presents the expression

"mortgagee" includes that member of the Executive Council of the Province of British Columbia charged with the administration of the Homeowner Interest Assistance Act and the successors and assigns of Her Majesty the Queen in Right of the Province of British Columbia,

"mortgagor" includes the heirs, executors, administrators, successors and assigns of the mortgagor, and

"prior mortgages" means any mortgage of the mortgagor's interest in the Manufactured Home that is registered in the manufactured home registry and that ranks ahead of this mortgage in priority;

(b) that in these presents words in the singular include the plural and words in the plural include the singular, and words importing the masculine gender include the feminine and neuter genders where the context so requires; and

(c) that all covenants, liabilities and obligations entered into or imposed on the mortgagor hereunder are joint and several.

(18)  And the mortgagor acknowledges and agrees that no failure on the part of the mortgagee to exercise and no delay in exercising any right under these presents shall operate as a waiver thereof nor shall any single or partial exercise by the mortgagee of any right herein contained preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided shall be cumulative and not exclusive of any other remedies provided by law and all remedies stipulated for the mortgagee herein shall be deemed to be in addition to and not restrictive of the remedies of a mortgagee at law or in equity.

(19)  The taking of a judgment on any of the covenants herein contained shall not operate as a merger of any such covenant.

  (1)  In consideration of the advances to be made by the mortgagee to the mortgagor from time to time under the program up to the maximum principal sum of $9 385 of lawful money of Canada, the mortgagor does hereby grant, assign and mortgage to the mortagee forever the Manufactured home (herein called the "Manufactured Home") described in the certificate and the mortgagor's interest in it arising under his contract to purchase the Manufactured Home by way of conditional sale (herein called the "Conditional Sale") subject to prior mortgages.

(2)  Provided this mortgage to be void

(a) on payment of $9 385, payable on September 30, 1986;

(b) and on observance and performance by the mortgagor of all covenants, provisos and conditions herein on the part of the mortgagor to be observed and performed.

(2.1)  The mortgagee agrees that, whether this mortgage is registered in the manufactured home registry before or after a mortgage given by the mortgagor to the Crown in the right of the Province under the Home Purchase Assistance Act, this mortgage shall rank in priority after the mortgage so given under that Act, and the mortgagee postpones this mortgage to that mortgage.

[en. B.C. Reg. 539/82, s. 8.]

(3)  The mortgagor covenants with the mortgagee that the mortgagor shall pay the mortgage money and observe the above provisos; and that the mortgagor shall pay, as and when the same may be demanded, all or any taxes, liens, assessments, encumbrances or other charges that may at any time during the continuance of this security be levied on or constitute a security interest in the Manufactured Home or the mortgagor's interest in it; and that the mortgagor exclusively possesses and owns the Manufactured Home clear of all encumbrances subject to the Conditional Sale and prior mortgages; and that the mortgagor shall warrant and defend the Manufactured Home against any person whomsoever; and that the mortgagor has the right to assign and mortgage the Manufactured Home and his interest in it subject to prior mortgages; and that, on default, the mortgagee shall have quiet possession of the Manufactured Home under the terms of the mortgagor's Conditional Sale free from all encumbrances, subject to prior mortgages; and that the mortgagor shall execute such further assurances of his interest in the Manufactured Home as may be requisite; and that the mortgagor has done no act to encumber the Manufactured Home or his interest in it, subject to prior mortgages; and that the mortgagor shall insure the Manufactured Home to an amount not less than its full insurable value against loss or damage by fire, and such other perils customarily covered in an extended coverage endorsement and against theft and does hereby assign to the mortgagee all amounts payable under the insurance; and the mortgagor shall perform and observe all of the covenants and provisos contained in this mortgage that are required to be performed and performed by him; and that the mortgagor shall pay and discharge as they become due all payments due and owing under the prior mortgages and shall observe and perform and carry out all of the covenants, agreements and provisos contained in them that are required to be observed and performed by him; and that the mortgagor shall well and faithfully observe and perform the covenants, agreements and provisos contained in his Conditional Sale and all extensions, renewals, replacements or substitutions of it, and shall do no act or be guilty of any default which may cause the mortgagor's interest in the Manufactured Home to be determined or foreclosed; and that the mortgagor's Conditional Sale is valid and subsisting and that the mortgagor has done no act nor suffered any omission to continue whereby his Conditional Sale has become impaired or invalid, subject to prior mortgages, and that the mortgagor has, in himself, a good and valid right to assign his interest in the Manufactured Home; and that the mortgagor shall not remove or allow to be removed, either temporarily or permanently, the Manufactured Home from the premises where it now is; and that the mortgagor shall make any and all repairs which are necessary to keep the Manufactured Home in as good a condition as it is now; and that the mortgagor shall promptly notify the mortgagee of any loss of or damage to the Manufactured Home; and the mortgagor does hereby release to the mortgagee all his claims upon the Manufactured Home, subject to the above provisos.

(4)  Provided that any default under the mortgagor's Conditional Sale, prior mortgages or other security interests ranking ahead of this mortgage shall be deemed to be and constitute a default hereunder, and the full principal amount secured hereunder and all other money payable hereunder shall, at the option of the mortgagee, become immediately due and payable.

(5)  Provided that if the mortgagor defaults in the payment of any money payable under his Conditional Sale, prior mortgages or any other security interest in the Manufactured Home or his interest in it ranking ahead of this mortgage or defaults in the performance or observance of any of the covenants, agreements or provisos contained therein or fails to rectify and make good any default of the mortgagor under the prior mortgages or other charge, the mortgagee may rectify or make good the default and all costs, charges, expenses or outlays made by the mortgagee to rectify the default, together with all costs and expenses incidental thereto incurred by the mortgagee, shall be added to the principal money hereby secured and the money shall be payable forthwith by the mortgagor without demand and shall be a security interest in the Manufactured Home in favour of the mortgagee until paid, and the mortgagee shall have the right to enforce its remedies for payment of money paid by the mortgagee in the same way and to the same extent as it could enforce any remedies to secure payment of any money due and payable hereunder.

(6)  Provided that the mortgagor, not being in default hereunder, shall have the privilege of prepaying at any time, without notice or bonus, the full balance of the principal owing.

(7)  Provided that should the mortgagor fail to repay when due any sum hereby secured or fail to observe or perform any covenant, term or provision hereof, or should the mortgagee have reasonable cause to believe that its security is in jeopardy, and if any of the noted contingencies shall continue for 20 consecutive days, then the entire balance of the sum secured hereby together with all costs, charges, expenses and interest thereon shall become immediately due and payable at the option of the mortgagee. In any and every such case, the mortgagee may enter into and upon the lands and premises on which the Manufactured Home may be situated and take possession of it.

(8)  Provided that if the mortgagor has paid at least two-thirds (2/3) of the total amount required to be paid under this mortgage, the mortgagee shall not take possession of the Manufactured Home or any part thereof unless otherwise permitted by law.

(9)  In the event the mortgagee takes possession of the Manufactured Home, the mortgagee shall retain the same for 30 days and, if the Manufactured Home is not redeemed by the mortgagor during that period by payment in full of the balance of any sum secured hereby, with all reasonable costs of taking and keeping possession, the mortgagee may sell the Manufactured Home or the mortgagor's interest in it at any time and from time to time, at public auction or by private sale, and either for cash or credit or part cash and part credit as to the mortgagee may seem best, without notice to the mortgagor. In the event of a sale on credit or for part cash and part credit, the mortgagee shall not be accountable for or charged with any monies until actually received in cash.

(10)  In the event of the mortgagee taking possession of the Manufactured Home, the mortgagee may maintain the same upon the premises on which the same may then be situated and for such purpose shall be entitled to the free use and enjoyment of all necessary buildings, premises and accommodation, and the mortgagor covenants and agrees to provide the same without cost or expense to the mortgagee.

(11)  If the mortgagee takes possession of the Manufactured Home and sells it or assigns the mortgagor's interest in it, the mortgagee is hereby authorized to deduct from the proceeds of such sale the balance of any sum secured hereby, and all such costs, charges and expenses as may have been incurred by the mortgagee in the protection and taking possession of the Manufactured Home or in consequence of the mortgagor's action or default and the surplus, if any thereafter remaining, shall be paid to the mortgagor.

(12)  Provided further that any tender by the mortgagor of arrears or lawful costs or charges at or after the time that the acceleration provisions herein contained shall come into effect shall not affect or prejudice the mortgagee's right to demand and to proceed for the whole balance of principal, and all other money of whatever nature hereby secured.

(13)  Provided that the mortgagee or agent of the mortgagee may, at any time, enter upon the land on which the Manufactured Home is situated to inspect the Manufactured Home.

(14)  Provided that no extension of time given by the mortgagee to the mortgagor, or anyone claiming under him, shall in any way affect or prejudice the rights of the mortgagee against the mortgagor or any other person liable for payment of the monies hereby secured.

(15)  Provided that in the event of a sale, transfer, assignment or any other disposition, except a disposition by mortgage or other charge, of the Manufactured Home or the interest of the mortgagor in it, the entire balance of principal owing hereunder shall become immediately due and payable.

(16)  Provided that the mortgagor may distrain for arrears of principal without regard to the value of the Manufactured Home and whether or not the goods are located in it.

(17)  It is hereby agreed and declared

(a) that in these presents the expression

"mortgagee" includes that member of the Executive Council of the Province of British Columbia charged with the administration of the Homeowner Interest Assistance Act and the successors and assigns of Her Majesty the Queen in Right of the Province of British Columbia,

"mortgagor" includes the heirs, executors, administrators, successors and assigns of the mortgagor, and

"prior mortgages" means any mortgage of the mortgagor's Conditional Sales Contract and his interest in the Manufactured Home that is registered in the manufactured home registry and that ranks ahead of this mortgage in priority;

(b) that in these presents words in the singular include the plural and words in the plural include the singular, and words importing the masculine gender include the feminine and neuter genders where the context so requires; and

(c) that all covenants, liabilities and obligations entered into or imposed on the mortgagor hereunder are joint and several.

(18)  And the mortgagor acknowledges and agrees that no failure on the part of the mortgagee to exercise and no delay in exercising any right under these presents shall operate as a waiver thereof nor shall any single or partial exercise by the mortgagee of any right herein contained preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided shall be cumulative and not exclusive of any other remedies provided by law and all remedies stipulated for the mortgagee herein shall be deemed to be in addition to and not restrictive of the remedies of a mortgagee at law or in equity.

(19)  The taking of a judgment on any of the covenants herein contained shall not operate as a merger of any such covenant.

(20)  And the mortgagor covenants and agrees that if the property in the Manufactured Home becomes vested in the mortgagor pursuant to his Conditional Sale or otherwise, this mortgage shall enlarge to constitute and be deemed to be a mortgage of the mortgagor's interest in the Manufactured Home to the same extent and effect as if property in the Manufactured Home were vested in the mortgagor on the date of registration of the certificate in the manufactured home registry office and, for the purpose of giving effect to the foregoing, the mortgagor hereby grants and mortgages the Manufactured Home to the mortgagee, subject to prior mortgages, such grant to take effect when property in the Manufactured Home vests in the mortgagor.

1 That the persons specified below have agreed to the creation of a mortgage in favour of Her Majesty the Queen in Right of the Province of British Columbia (the "Mortgagee") of their interest in the land and premises described as follows:

(the "Land") in the form and on the terms and conditions prescribed in the British Columbia Home Program Regulation (the "Regulation") for the nature of their interest in it.

2 That the names, addresses and occupations of the persons who have agreed to the creation of the mortgage by the registration of this certificate are:

(in addition specify whether they are joint tenants or tenants in common and if they are tenants in common, the extent of their undivided interest)

(the "Mortgagor").

3 That the principal sum secured by the mortgage is $9 385 being an amount equal to the maximum assistance that the Mortgagor is entitled to receive under the program whether or not that sum is advanced to him and that all advances secured by the mortgage are due and payable on September 30, 1986 or on such earlier date as they become due and payable under the Regulation.

4 That, in the application for assistance under the program, the mortgagor acknowledged that he understands that, by operation of the Homeowner Interest Assistance Act, the mortgage deemed to be created by the registration of this certificate is a mortgage

(a) of the Mortgagor's interest in the Land;

(b) in favour of the Mortgagee; and

(c) securing the money advanced under it from time to time up to a sum not exceeding $9 385.

5 That the Mortgagor is the person who is the registered owner of the Land or the interest in it that is to be charged by the registration of this certificate.

1 That the persons specified below have agreed to the creation of a mortgage in favour of Her Majesty the Queen in Right of the Province of British Columbia (the "Mortgagee") of their interest in the manufactured home described as follows:

(the "Manufactured Home") in the form and on the terms and conditions prescribed in the British Columbia Home Program Regulation (the "Regulation") for the nature of their interest in it.

2 That the names, addresses and occupations of the persons who have agreed to the creation of the mortgage by the registration of this certificate are:

(in addition specify whether they are tenants in common, and if they are tenants in common, the extent of their undivided interest)

(the "Mortgagor").

3 That the principal sum secured by the mortgage is $9 385 being an amount equal to the maximum assistance that the Mortgagor is entitled to receive under the program whether or not that sum is advanced to him and that all advances secured by the mortgage are due and payable on September 30, 1986 or on such earlier date as they become due and payable under the Regulation.

4 That, in the application for assistance under the program, the mortgagor acknowledged that he understands that, by operation of the Homeowner Interest Assistance Act, the mortgage deemed to be created by the registration of this certificate is a mortgage

(a) of the Mortgagor's interest in the Manufactured Home;

(b) in favour of the Mortgagee; and

(c) securing the money advanced under it from time to time up to a sum not exceeding $9 385.

5 That the Mortgagor is the person who is the registered owner of the Manufactured Home.