88Property to be kept in repair until payment in full

88 Property to be kept in repair until payment in full

(1)  A purchaser, and a borrower, must, until the whole amount of purchase-money or advance due by the purchaser or borrower has been paid or repaid, insure and keep in good and tenantable repair, to the satisfaction of Homes Tasmania, all buildings, fences, fixtures, and improvements upon the land to which the contract of sale, mortgage, or other security, of the purchaser or borrower, relates.

(2)  Unless Homes Tasmania takes action under subsection (3) , if, after the expiry of one month's notice in writing given by Homes Tasmania to a purchaser, or borrower, in relation to land, or land and residential premises, the purchaser or borrower has not complied with the requirements of this section –

(a) Homes Tasmania, or any person authorised by Homes Tasmania to do so, may enter and take possession of the land, or the land and residential premises, as the case may be; and

(b) there are to apply, to –

(i) a breach of the terms or conditions of the contract of sale, mortgage, or other security; or

(ii) a default made in the payment of any instalment of money payable in respect of any contract of sale or advance under this Act –

the same consequences as those provided by section 93 .

(3)  Unless Homes Tasmania takes action under subsection (2) , if, after the expiry of one month's notice in writing given by Homes Tasmania to a purchaser, or borrower, in relation to land, or land and residential premises, the purchaser or borrower has not complied with the requirements of this section –

(a) Homes Tasmania, or any person authorised by Homes Tasmania to do so, may enter the land, or residential premises on the land, and carry out the repairs that Homes Tasmania considers necessary; and

(b) the expenses incurred in carrying out those repairs, with interest at the same annual rate as that which is payable on the purchase-money or advance, as the case may be, must be paid to Homes Tasmania by the purchaser or borrower on demand; and

(c) until the expenses are repaid, the expenses are a charge under the contract of sale or mortgage or other security upon the property, even though the amount of the purchase-money or advance is, by the addition of the amount of the expenses and interest, increased to more than the amount of the maximum cost or advance, as the case may be, applicable under this Act in respect of the land or the land and the residential premises.