57Rights of Custodian where conditions of sale not observed

57 Rights of Custodian where conditions of sale not observed

If the purchaser fails to comply with the covenant referred to in regulation 54 of these Regulations:

(a) the Custodian or his duly authorized agent may enter upon the property and effect all repairs and do all work which the Custodian or his duly authorized agent thinks necessary, and the expenses thereby incurred, together with interest at the same annual rate as that which is payable on the purchase money, shall be paid to the Custodian by the purchaser on demand, or by such instalments and at such times as the Custodian determines, and until repayment shall be a charge on the property, and the Custodian shall have a lien over the whole of the produce of the property to secure the repayment of the expenses and interest; or

(b) the Custodian or his duly authorized agent may enter upon and take possession of the property, and thereupon may cancel the contract of sale, and, in his discretion, forfeit any moneys previously paid by the purchaser under the contract of sale.