Terms & Conditions
1. The loan approval is subject to the terms and conditions outlined in our document.
2. The terms and conditions of the loan and securities will be included in our standard loan documents
3. Any reference to ‘you’ or ‘your’ means the Borrower and Guarantor(s) jointly and severally. ‘We’ or ‘us’ means Allott Capital Pty Ltd ACN 646 380 681.
4. You instruct us to engage a valuer to value the security property.
5. The valuation(s) is to be to our satisfaction. We are not under any obligation to provide a copy to you.
6. If the valuation is less than your estimate you consent to the Facility Limit being reduced accordingly.
7. You instruct us to engage a law firm to prepare loan and security documents.
Loan Statements / Authority
8. You authorise and direct any existing mortgagee to consent to the registration of our security and provide information to us about their debt and securities.
Fees and Costs
9. The Upfront Fee is to be paid by you upon acceptance of this offer by you.
10. All other fees, costs and other monies payable are to be paid by you on the earlier of (i) the first drawdown date (ii) withdrawal from this offer by you or by us (if applicable) or (iii) 30 days from the date of acceptance by you.
11. You agree to pay the fees and costs including the Establishment Fee, the cost of the valuation(s), any outlays, and all legal costs (on a full indemnity basis) including (without limitation) preparation of any document, searches and enquiries, and any recovery or enforcement action.
12. You (including each Guarantor) charge the Security Address and all present and after-acquired real property in favour of us in respect of monies payable to us.
Withdrawal By You
13. Once you accept our offer it cannot be withdrawn by you unless you request and we agree in writing to your withdrawal.
14. If you withdraw from the offer after signing it, or the loan is not drawn down for any reason within 30 days after acceptance, or the proposed funding is amended, withdrawn or cancelled by us, then you agree to immediately pay the (i) all fees and costs outlined in our conditional offer; and (ii) one month’s interest at the Lower Rate.
Withdrawal By Us
15. Our approval may be amended, withdrawn or cancelled by us at any time prior to the loan (or any part) being advanced to you if: (i) any information provided by you is misleading or materially incorrect; (ii) circumstances or facts arise which, in our opinion, may be prejudicial to our interests; (iii) the valuation is less than your estimate, or (iv) settlement is not effected within 30 days after acceptance.
16. If we amend, withdraw or cancel this approval pursuant to clause 15, we shall incur no liability whatsoever. The fees, costs, outlay and other monies payable by you and outlined herein remain payable by you.
17. If any part of this agreement is or becomes invalid or unenforceable, then it is to be severed, and the other provisions are not affected.
18. Any broker that arranges or negotiates a loan is not acting as broker or agent for us but is acting solely in its capacity as broker or agent for you; and has no authority to bind or in any way make any statements or representations on behalf of us.
Independent Legal Advice
19. We recommend you obtain independent legal advice before signing our document.
Acceptance By You
20. By signing this document, you each accept this offer and represent and warrant to us that:
(i) you are not aware of any fact, matter or thing which may adversely affect your ability to repay the loan;
(ii) the loan will be used only for the authorised Purpose or otherwise wholly for business and/or investment purposes;
(iii) you have made your own independent decision and have not relied on any representation made by us, our officers or agents.
Acceptance By Guarantor(s)
21. Further, each Guarantor also:
(i) accepts and agrees to be bound by these terms and irrevocably guarantees to us and indemnifies us for the due and punctual payment of the fees, costs and other money, payable to us and the due and punctual performance of all the obligations of the Borrower and of each Guarantor;
(ii) agrees this guarantee and indemnity is enforceable against each Guarantor notwithstanding that any person who was intended to execute this document did not in fact execute it.