Queensland Consolidated Acts

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PROPERTY LAW ACT 1974 - SECT 78

Implied obligations in mortgages

78 Implied obligations in mortgages

(1) In every instrument of mortgage there shall be implied on the part of the mortgagor the following obligations—
(a) that the mortgagor will pay the principal money and interest secured according to the rate and at the times and mentioned in the mortgage without any deduction whatever;
(b) that the mortgagor will keep all buildings and other improvements erected and made upon the land in as good and substantial repair as the same were in at the date of the mortgage, and that the mortgagor will permit the mortgagee at all convenient times, until such mortgage is redeemed, with or without agents, to enter into and upon such land to view and inspect the state of repair of such buildings and improvements.
(2) An obligation implied because of this section shall, if the mortgage is by deed, take effect as a covenant on the part of the mortgagor.
(3) This section applies only if and as far as a contrary intention is not expressed in the instrument of mortgage, and shall have effect subject to the terms of the instrument, and to the provisions contained in the instrument.
(4) Subject to subsection (3) , an obligation implied by this section shall have effect as if it were in terms contained in the instrument of mortgage.



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