Persons entitled
- Aib Group (UK) P.L.C
Brief description
The borrower as beneficial owner and as security for the repayment of the secured liabilities hereby charges by way of a first fixed legal charge:-. A) the borrower's present and future rights title and interest in and to each contract;. B) sums which shall from time to time become payable to the borrower by each contractor or otherwise under each contract or any provision of it;. C) the borrower's rights arising out of or in connection with any breach or default by each contractor or any other party to a contract of or under any of the terms, obligations, covenants, undertakings or conditions of that contract whether in respect of a property or otherwise;. D) the benefit of all sums recovered in any proceeding against each contractor;. E) the benefit of any authorisation (statutory or otherwise) held in connection with the development;. F) the right to recover and receive compensation which may be payable to it in respect of any authorisation referred to in paragraph (e) above; and. G) the benefit of all rights in relation to any item under paragraphs (e)and (f) above.. If at any time the secured liabilities have been fully discharged and repaid and the borrower has no actual or contingent liability to the lender then the lender shall (at the request and cost of the borrower) release to the borrower the security assets (which have been charged to the lender pursuant to this deed) without recourse warranty.. The borrower hereby confirms that there are no restrictions preventing the charging of the security assets and hereby undertakes forthwith on demand to charge to the lender absolutely or as the lender shall direct the security assets and rights and remedies available to the borrower under it to the extent that the security assets shall not be fully and effectively charged to the lender by this deed. The borrower shall do all such things as may be necessary to effect such a charge.. Building contract between the borrower (as employer) and kap properties limited (as contractor) dated 1ST march 2023.. letter of appointment with novation between kap properties limited as novated to the borrower and hillen architects.
Contains negative pledge.