Conditions of the form of the contract of sale of an apartment. Settlement procedure: 1. Deposit. The deposit given by the buyer to secure the conclusion of the apartment sale and purchase agreement shall be set off against payment of the purchase price of the apartment. 2. Letter of credit. The buyer opens two covered (deposited) irrevocable letters of credit on the day of contract conclusion: (i) letter of credit 1 is opened to the seller after registration of the buyer's title to the apartment; (ii) letter of credit 2 is opened to the seller after the seller has paid off the loan to the bank and released the encumbrance in the form of a mortgage within the period specified in the contract. Risk mitigation: If the seller fails to fulfill the obligations to pay the loan to the bank and remove the encumbrance within a specified period of time, Letter of Credit 2 is not opened to him. In this case, the buyer can take the place of the seller (pledgee in the mortgage agreement), subject to the approval of the bank as a borrower, and fulfill the obligation to the bank at the expense of funds from the letter of credit 2 or refuse to fulfill the contract of sale of the apartment.