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Repayment of loans.
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3. [Provision for repayment of loans by annual sum of 5 per cent. for 35 years, rep. 56 & 57 Vict. c. 54 (S.L.R.)]. Provided always, that the amount of such annual sum may, by agreement, and with the sanction of the Treasury be increased to such amount as will repay the sum so advanced sooner than the said period of thirty-five years herein-before appointed.
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All lands upon which any buildings or erections may stand which shall be erected, enlarged, or improved, or which shall have been purchased wholly or partly by means of a loan under this Act, and all such buildings and erections, shall be deemed to be and shall be well charged with the payment of such rent-charge, and that in priority to all charges and incumbrances whatsoever affecting the same, save and except quit-rents and rentcharges in lieu of tithes, and except all charges prior in date (if any) existing under any of the Acts mentioned in the schedule to this Act: Provided always, that in case such lands or buildings shall be held under any grant or demise, nothing herein contained shall prejudice or affect the right of the grantor or lessor in any such grant or demise, or of any superior grantor or lessor.
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