To [name of law practice]
I/We* instruct and authorise you to invest on my/our* behalf the sum of $[amount] on security of a [select from the following those that apply]
first mortgage of land or an interest in land
second mortgage of land or an interest in land
general security agreement
other registered security [indicate nature and priority]
in accordance with the details given below.
I/We* further instruct you and authorise that the documents of security in respect of the investment be completed in the name of the company set out below, which is entitled as its directors deem appropriate to exercise on behalf of the investors all the rights, powers, and remedies conferred by law including the power to buy in at any sale of the property charged by the security and to be indemnified by the investors proportionately in respect of all costs, claims, and other liabilities arising in relation to the investment.
I am/We are* aware that the company acts as a trustee for myself/us* and other investors (if any) in the security, and that I am/we are* not entitled to call for repayment of my/our* investment during the term indicated below nor for the transfer to my name/our* names of the security or any part thereof nor to direct the officers of the company as to the exercise of their duties and that neither you nor the company accepts any personal liability for delay in repayment of the principal sum or in payment of interest or the non-performance by the borrower of his/her/its* obligations or otherwise than arising from professional duty.
The details regarding the investment are:
Security: [particulars of property to be charged and nature of security]
If the security is not a first charge, details of the charge(s) having priority:
Total principal sum to be secured:
Term of security:
I/We* acknowledge that I/we* have received a copy of this authority.
†I/We* acknowledge that I/we* have previously received information relating to this investment pursuant to rule 8 of the Lawyers and Conveyancers Act (Lawyers: Nominee Company) Rules 2008.
|†Omit this paragraph if it does not apply.|
Name of lawyers nominee company:
Name of investor:
Postal address of investor:
I/We* acknowledge I am/we are* aware that any loss of this investment will not be reimbursed by the Lawyers' Fidelity Fund.
Signature(s) of investor(s):
This form may not be altered except as provided in this form (see the definition of specific authority in sub-rule 3.1 of the Lawyers and Conveyancers Act (Lawyers: Nominee Company) Rules 2008). However, where the form is used in relation to a contributory mortgage (see the Lawyers and Conveyancers Act (Trust Account) Regulations 2008) taken other than through a lawyers nominee company, it may be consequentially amended to the extent necessary.