80Advances by instalments

80 Advances by instalments

(1)  If at any time, in the opinion of Homes Tasmania, any money advanced under this Part has not been applied for the purpose for which it was advanced, or has not been carefully and economically expended, Homes Tasmania –

(a) may refuse to pay any further instalment of the proposed advance; and

(b) may, by notice in writing, at once call in the whole, or part, of the amount already advanced.

(2)  If Homes Tasmania, under this section, calls in the whole, or part, of an amount advanced to a borrower, the borrower must immediately repay the whole, or the part, respectively, of the amount advanced.

(3)  If the borrower fails to immediately repay to Homes Tasmania the whole, or the part, respectively, of the amount advanced, that Homes Tasmania has called in, Homes Tasmania has the same remedies in respect of –

(a) the recovery of the amount called in; or

(b) any part of the amount called in that remains unpaid –

as the remedies under this Act for the recovery of sums payable by the borrower.