AMERIABANK CJSC TERMS OF MORTGAGE LOANS* (where the loan is secured by property other than the real estate to be bought)

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1 Approved by Management Board decision 123/06/11 as of October 19, 2011 Chairman of the Management Board General Director Artak Hanesyan Effective since November 10, 2011 AMERIABANK CJSC TERMS OF MORTGAGE LOANS* (where the loan is secured by property other than the real to be bought) This type of lending is appropriate for those cases where the location of the real to be purchased doesn't qualify for the bank's requirements (either outside Armenia or in the provinces where the bank doesn't have operating branches). In such cases the borrower may secure the loan by other real, either Yerevan-based or located in the provinces hosting Ameriabank's branch offices, provided that the is used for its intended purpose, i.e. purchase of real. Since the real to be purchased is not used as collateral, there are no restrictions as to its location. purchase of an apartment purchase of a house purchase of commercial real purchase of land Currency USD AMD USD AMD USD AMD USD AMD Interest rate 13,2% 14% 13,5% 14,5% 14% 15% 14% 15% Maximum term 10 years 5 years 10 years 5 years 10 years 5 years 10 years 5 years Minimum down payment 20% 20% 20% 20% 20% 20% 20% 20% Maximum LTV** 75% 75% 65% 65% 65% 65% 50% 50% Repayment of and interest Annuity Annuity Annuity Annuity Account service fee AMD 40,000 AMD 40,000 AMD 40,000 AMD 40,000 **Location of the property to be pledged Yerevan, Tsaghkadzor, Jermuk and areas where the bank has branches Insurance of collateral until the end of the loan term (per annum) In the amount of Early During the first 6 months 5% repayment of the loan After 6 months 0% Overpayment of installments Maximum four times annually, provided that the amount exceeding monthly payments makes at least their double. The repayment schedule may be then revised at the client s discretion. Ratios used to determine the Payment to income (net) (PTI) Maximum 40%

2 borrower s creditworthiness Obligations to income (net) (OTI) Maximum 55% Late payment fee (principal) Late payment fee (interest) Overdue loan interest rate Review of interest rates Eligibility criteria Fine equal to 0.1% of the overdue loan for each day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 2% of the overdue loan Fine equal to 0.3 % of the overdue interests for each calendar day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 5% of the overdue interests The interest rate applied to the loan as stipulated in the agreement shall lose its effect and the overdue amount shall bear interest at a daily rate of 0.1 percent. The bank shall be entitled to review the interest rate. On the basis of the average interest rate prevailing in the mortgage lending market or on the basis of default by the borrower, the bank may change the annual interest rate at its sole discretion, notifying the borrower in writing 1 month prior to the effective date. Such notice shall be considered a basis for applying the new interest rate starting from the effective date. The bank accepts loan applications of clients with at least three months account turnover in Ameriabank CJSC as of the application date (required for analysis of the borrower s financial flows and appraisal of his borrowing capacity). Exceptions may be made in the following cases: the client has not had classified liabilities for the last 2 years, the annual income of the client totals at least AMD 3 million, the client s turnover in other banks enables the bank to estimate his financial flows and appraise borrowing capacity, the client is attracted by a bank account holder, bona fide and big client or a manager of the bank, and they express willingness to provide a written warranty for credit liabilities to be undertaken by the client, if necessary. The terms specified herein are not binding upon the bank to issue a loan to the client. The bank s decision on issuance or rejection of a loan is based on the analysis of data (including the data specified above) submitted by the client, appraisal of the borrowing capacity of the client on the basis of the information provided and all the other related risks. *Any deviation from the terms herein contained shall be subject to the resolution of the bank s Management Board. ** The loan should be secured by real to the reasonable satisfaction of the bank, as defined by the internal regulations of the bank. The value of the collateral is determined based on its liquidation value.

3 Approved by Management Board decision 123/06/11 as of October 19, 2011 Chairman of the Management Board General Director Artak Hanesyan Effective since November 10, 2011 AMERIABANK CJSC TERMS OF MORTGAGE LOANS* (with additional collateral) This type of lending is appropriate for those cases when the down payment or the collateral offered by the borrowers are not enough to qualify for mortgage loans as required under the bank's current terms and conditions. In such cases the borrower may secure the loan by other property to the reasonable satisfaction of the bank, forming together with the initial collateral an acceptable value of LTV ratio. purchase of an apartment purchase of a house purchase of commercial real purchase of land Currency USD AMD USD AMD USD AMD USD AMD Interest rate 13,2% 14,2% 13,5% 14,5% 14% 15% 14% 15% Maximum term 10 years 5 years 10 years 5 years 10 years 5 years 10 years 5 years Minimum down payment 5% 5% 5% 5% 10% 10% 10% 10% (for purchase of real property) Maximum LTV** 75% 75% 65% 65% 65% 65% 50% 50% Account service fee AMD 40,000 AMD 40,000 AMD 40,000 AMD 40,000 Repayment of and Annuity Annuity Annuity Annuity interest **Location of the property to be Yerevan, Tsaghkadzor, Jermuk and areas where the bank has branches acquired/pledged Insurance of collateral until the end of the loan term (per annum) In the amount of Early repayment During the first 5% of the loan 6 months After 6 months 0% Overpayment of installments Maximum four times annually, provided that the amount exceeding monthly payments makes at least their double. The repayment schedule may be then revised at the client s discretion. Ratios used to determine the borrower s Payment to income (net) (PTI) Maximum 40%

4 creditworthiness Obligations to income (net) (OTI) Maximum 55% Late payment fee (principal) Late payment fee (interest) Overdue loan interest rate Review of interest rates Eligibility criteria Fine equal to 0.1% of the overdue loan for each day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 2% of the overdue loan Fine equal to 0.3 % of the overdue interests for each calendar day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 5% of the overdue interests The interest rate applied to the loan as stipulated in the agreement shall lose its effect and the overdue amount shall bear interest at a daily rate of 0.1 percent. The bank shall be entitled to review the interest rate. On the basis of the average interest rate prevailing in the mortgage lending market or on the basis of default by the borrower, the bank may change the annual interest rate at its sole discretion, notifying the borrower in writing 1 month prior to the effective date. Such notice shall be considered a basis for applying the new interest rate starting from the effective date. The bank accepts loan applications of clients with at least three months account turnover in Ameriabank CJSC as of the application date (required for analysis of the borrower s financial flows and appraisal of his borrowing capacity). Exceptions may be made in the following cases: the client has not had classified liabilities for the last 2 years, the annual income of the client totals at least AMD 3 million, the client s turnover in other banks enables the bank to estimate his financial flows and appraise borrowing capacity, the client is attracted by a bank account holder, bona fide and big client or a manager of the bank, and they express willingness to provide a written warranty for credit liabilities to be undertaken by the client, if necessary. The terms specified herein are not binding upon the bank to issue a loan to the client. The bank s decision on issuance or rejection of a loan is based on the analysis of data (including the data specified above) submitted by the client, appraisal of the borrowing capacity of the client on the basis of the information provided and all the other related risks. *Any deviation from the terms herein contained shall be subject to the resolution of the bank s Management Board. ** The loan should be secured by real to the reasonable satisfaction of the bank, as defined by the internal regulations of the bank. The value of the collateral is determined based on its liquidation value.

5 Approved by Management Board decision 123/06/11 as of October 19, 2011 Chairman of the Management Board General Director Artak Hanesyan Effective since November 10, 2011 AMERIABANK CJSC TERMS OF MORTGAGE LOANS* (deposit-secured loans) A deposit-secured loan allows to use the amount of a bank deposit along with the real to secure the loan. In such cases the borrower deposits the amount of down payment in Ameriabank CJSC. The deposit is further formalized as loan collateral. The loan may also be secured by any other deposit with Ameriabank, whether made by the borrower or a third party. purchase of an apartment purchase of a house purchase of commercial real purchase of land Currency USD AMD USD AMD USD AMD USD AMD Interest rate 13% 14% 13% 14,5% 14% 15% 14% 15% Maximum term 10 years 5 years 10 years 5 years 10 years 5 years 10 years 5 years LTV ratio** 80% 80% 80% 80% 80% 80% 80% 80% Amount of cash collateral (pledged deposit)*** (where the deposit is in the currency of the loan) Amount of the deposit (where the deposit is in a currency other than that of the loan) loan principal which is not 120% of the loan principal which is not 120% of the 120% of the 80% of the Account service fee AMD 35,000 AMD 35,000 AMD 35,000 AMD 35,000

6 Repayment of and interest Location of the property to be bought Insurance of collateral until the end of the loan term (per annum) Early During the first 6 repayment of months the loan Annuity Annuity Annuity Annuity Yerevan, Tsaghkadzor, Jermuk and areas where the bank has branches In the amount of outstanding loan 5% After 6 months 0% Overpayment of installments Maximum four times annually, provided that the amount exceeding monthly payments makes at least their double. The repayment schedule may be then revised at the client s discretion. Ratios used to determine the borrower s creditworthiness Payment to income (net) (PTI) Obligations to income (net) (OTI) Maximum 40% Maximum 55% Late payment fee (principal) Late payment fee (interest) Overdue loan interest rate Review of interest rates Eligibility criteria Fine equal to 0.1% of the overdue loan for each day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 2% of the overdue loan Fine equal to 0.3 % of the overdue interests for each calendar day of default, should the default extend for 5 (five) business days or longer also a penalty equal to 5% of the overdue interests The interest rate applied to the loan as stipulated in the agreement shall lose its effect and the overdue amount shall bear interest at a daily rate of 0.1 percent. The bank shall be entitled to review the interest rate. On the basis of the average interest rate prevailing in the mortgage lending market or on the basis of default by the borrower, the bank may change the annual interest rate at its sole discretion, notifying the borrower in writing 1 month prior to the effective date. Such notice shall be considered a basis for applying the new interest rate starting from the effective date. The bank accepts loan applications of clients with at least three months account turnover in Ameriabank CJSC as of the application date (required for analysis of the borrower s financial flows and appraisal of his borrowing capacity). Exceptions may be made in the following cases: the client has not had classified liabilities for the last 2 years, the annual income of the client totals at least AMD 3 million, the client s turnover in other banks enables the bank to estimate his financial flows and appraise borrowing capacity, the client is attracted by a bank account holder, bona fide and big client or a manager of the bank, and they express willingness to provide a written warranty for credit liabilities to be undertaken by the client, if necessary.

7 The terms specified herein are not binding upon the bank to issue a loan to the client. The bank s decision on issuance or rejection of a loan is based on the analysis of data (including the data specified above) submitted by the client, appraisal of the borrowing capacity of the client on the basis of the information provided and all the other related risks. Repayment of the loan (current or overdue) out of the cash collateral 1. The loan may be repaid out of the cash collateral in which case the borrower gives to the bank a corresponding instruction at least 3 days in advance. If the borrower defaults on the loan payment, the bank is entitled to charge the outstanding amount to the cash collateral on the last business day when the loan becomes delinquent. 2. Repayment of the loan, whether current or overdue, out of the cash collateral does not result in recalculation of the interest accrued to the deposit. *Any deviation from the terms herein contained shall be subject to the resolution of the bank s Management Board. **The value of the pledged real is determined based on its liquidation value. ***The deposit interest rate and terms are subject to the current regulations of the bank applicable for individuals unless otherwise specified in the cash collateral agreement entered into by the parties.