SCHEDULE 5 Procedures as to Redemption
FORM A NOTICE OF REDEMPTION OF STANDARD SECURITY
To A.B. (address)
TAKE NOTICE that on .................. (state date of repayment) C.D. (designation), will repay the sum of £ (or the whole amount due) secured by a standard security by the said C.D. (or by E.F.) in your favour (or in favour of G.H.) F1recorded in the Register for……on…….) Dated this .................. day of ........................
(To be signed by the debtor, or proprietor, or by his agent, who will add his designation and the words Agent of the said C.D.)
In the case of a standard security for a non-monetary obligation this Form shall be adapted accordingly.
FORM B
I, A.B., above named, hereby acknowledge receipt of the Notice of Redemption of which the foregoing is a copy. Dated this ............ day of ........................
(To be signed by the creditor, or by his agent, who will add his designation and the words Agent of the said A.B.)
FORM C
Notice of Redemption, of which the foregoing is a copy, was posted (or otherwise, as the case may be) to A.B. above named on the .................. day of ........................
(To be signed by the debtor, or proprietor, or by his agent, who will add his designation and the wordsAgent of the said C.D.and if posted the postal receipt to be attached.)
FORM D
No. 1 Certificate of Consignation on Redemption of Standard Security where Discharge cannot be Obtained
I, A.B. (designation) (solicitor) certify that consignation of the whole amount due under the standard security aftermentioned was made as after stated and was necessitated by reason of a discharge being unobtainable after due notice of redemption had been given.
STANDARD SECURITY for £ (or a maximum of £; in other cases describe as indicated in Note 2 to Schedule 4 to this Act) by C.D. in favour of E.F. F2registered in the Land Register of Scotland on…..over title number…..(or recorded in the Register for……on…….)
AMOUNT CONSIGNED £, being £ of principal, £ of interest and £ in respect of ascertained expenses.
BANK IN WHICH CONSIGNED (specify bank or branch of bank with address, in which above amount consigned) conform to deposit receipt dated .................. in name of the person appearing to have the best right thereto (specifying his name and designation if known) (or if he is only a partial creditor sayto the extent of £ ).
F3Testing clause+
F4+Note— F5In the case of a traditional document, subscription of it by the granter will be sufficient for the document to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see the Requirements of Writing (Scotland) Act 1995 F6, which also makes provision as regards the authentication of an electronic document).
No. 2 Certificate of Declarator of Performance of Debtor’s Obligations under Standard Security where Discharge cannot be obtained
I, A.B. (designation) (solicitor) certify that a decree of declarator of performance of the obligations of the debtor under the standard security aftermentioned was pronounced as after stated and was necessitated by reason of a discharge being unobtainable after due notice of redemption had been given.
STANDARD SECURITY by C.D. in favour of E.F. F2registered in the Land Register of Scotland on…..over title number…..(or recorded in the Register for……on…….)
DECREE OF DECLARATOR by the Sheriff of .................. at .................. in the application of the said C.D. (or J.K. (designation), who is now the debtor (or the proprietor of the interest in land contained) in the said standard security.)
F7Testing clause+
F8+Note— F5In the case of a traditional document, subscription of it by the granter will be sufficient for the document to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see the Requirements of Writing (Scotland) Act 1995 F6, which also makes provision as regards the authentication of an electronic document ).