BANK OF CHINA. Definitions and Interpretation

Transcription

1 STANDARD PROPERTY TERMS Application AND CONDITIONS of Standard GOVERNING Terms and FACILITIES Conditions SECURED BY MORTGAGE OF RESIDENTIAL PROPERTY AND/OR COMMERCIAL These If In Conditions. Offer there shall standard is prevail. any terms inconsistency and conditions between ("Conditions the Conditions") Letter of Offer form part and these of the Conditions, Letter of the Offer terms which under refers the Letter to these following "Account Definitions and Interpretation of "Availability hereafter "Application Account" these Conditions, meanings: have means Form" Period" with any means us Singapore the means whether following the form Dollars alone availability completed expressions current jointly by period or you or shall savings jointly requesting stated (except account with for the any where the Letter and/or other Facility; the of any person; context Offer; other otherwise account which requires) you may have now the or "Commercial "BOC "Borrower "Bridging "Business "Cancellation OC" means Bank of China Limited, Singapore Branch; "Conditions Borrower" means the person to whom the Facility is granted pursuant to the Letter of Offer; Loan" the bridging loan granted under the Letter of Offer; Day" means any day except Sundays or public holidays; "CPF Fee" means the cancellation fee stated in the Letter of Offer; "ECHS Property PrecedentLoan" means the commercial property loan granted under the Letter of Offer; "Event Precedent" means the conditions precedent stated in the Letter of Offer and/or in these Conditions; circumstance CPF" means the Central Provident Fund; "Executive means the Fund Act, Chapter 36 of Singapore; "Facility Facility" Board" Act" of Default" refers means means Condominium" described the to the means the banking Central as Executive such any means facilities Provident one in a the of Condominium housing Letter the granted Fund events accommodation of Board Housing Offer; under set constituted out the Scheme Letter in governed Clause Act, under of Chapter Offer 11 section or of subject including 99A these 3 of to Conditions Singapore; the the CPF Housing scope Act; and/or of Loan, the any Commercial ECHS event Act; or "GST Property banking discretion; "Facility Loan, Term Loan, Bridging Loan and the Overdraft Facility (if any) and any other additional or further facilities that may be granted or made by us to you from time to time the terms and conditions stated "Guarantor GST" Guarantor" any the other Letter Documents" means any similar of goods Offer the taxes, means person and and services the levies these named Application Conditions, or as tax charges; guarantor payable Form, and under or the such surety Letter the other under Goods of terms Offer the and and Letter Services and conditions these of Tax Offer Conditions; Act, as or we Chapter any may owner decide 117A of of the at Singapore our Property sole "HPI who is not the Borrower; section HDB" means the Housing and Development Board constituted under section 3 of the Housing and Development Act, "Initial Chapter 129 of Singapore; you "HDB Flat" means a flat built or to be built by HDB under the Housing and Development Act "Insurer "Housing Loan" housing loan granted under the Letter of Offer; insurer Scheme" means the home protection insurance scheme established and maintained by the CPF Board under "Letter of the CPF Act; the Period" means the period stated the Letter of Offer during which the Prepayment Fee is payable when "Mortgage prepay the Mortgage Loan fully or partially; "Mortgagor Insurer" as of means we Offer" may China approve means Taiping the from letter time Insurance to of time; offer (Singapore) from us Pte. to you Ltd offering and/or its you successor Facility and pursuant assignees to or and such based other on "Prescribed "Overdraft "Prepayment information furnished by you in the Application Form, to which these Conditions are attached; and Mortgage" the mortgage executed by you our favour over the Property to secure the Facility; "Property Mortgagor" Facility" means the means owner the of the overdraft Property facility or the granted person who under has the executed Letter the of Offer; Mortgage; which "Purchase Fee" the prepayment fee stated in the Letter of Offer; for Property" shall the is purchase exclusive include Price" means Rate" the means of any means of the property increased, any the the Property) discount, purchase rate or reduced properties of from price interest rebate the or of vendor varied stated the charged any Property in rate; other for any the Letter other benefit as stated particular person of (including Offer and arranged declared Facility which the is/are by by payment set through you out to in of be in vendor, the mortgaged legal the Application Letter which stamp to of has us; Form, Offer fees the 11.00am, shall effect "SCP supplemented "Screen Act" be of Rate" Singapore as reducing means published from means the time such time, the Sale to on purchase prevailing time); on Reuters of Interest Commercial price Screen SIBOR Repricing of the ABSIRFIX01 Properties (Singapore Property; Date Page ( the Act, Interbank under Chapter 11.00am the Offered 281 fixing ).The heading of Rate)/SOR Singapore SGD prevailing SIBOR / SGD (Singapore (as amended, SIBOR/SOR SWAP Swap Offer revised are as Rate) also of you available where alternative discretion. "Security the 11.00am The Business fixing is Times not available, on the next the business Bank may day obtain following SIBOR/SOR the Interest from a Repricing different Date. source, In the or in event the "Singapore substitute the SIBOR/SOR with such other rate as the Bank may determine at its sole and absolute "Special OFFER without to secure Documents" your obligations means any under document the (including Facility Documents Mortgage) in from connection time to with time the executed Facility; or to be executed by Company earlier Dollar(s)" and the symbol "S$ S$" means the lawful currency of Singapore; Reg Mortgage No.: notice; S36FC0753G Rate" means our prevailing special mortgage rate which is subject to change by us at any time 1 BANK OF CHINA

2 value-added (a) (b) "Taxes Taxes" means tax all or such taxes, other duties, taxes levies, which may charges, be levied assessments, or imposed impositions upon: outgoings including any GST, "Term payment or sum which you have to pay under any Facility Document and any Security Document; and/or "Title LoanFacility any moneys Document which and you any have Security to pay Document to us or including which is any received expenses or incurred will be by received us; by us under any authority; Loan" means the term loan facility granted under the Letter of Offer; "Transferee Documents" means the title documents or title deeds relating to the Property; the "TOP TOP" means the Temporary Occupation Permit or its equivalent relating to the Property issued by the building "We Transferee" We" Security and "us us" Documents; means the BOC, person our successors, to whom we assignees transfer or or agree any Transferee; to transfer the benefit of the Facility Documents and 2.2 If "You their You" and "your your" means, where applicable (a) the person named in the Letter of Offer as the Borrower, (b) if (a) different, person named in the Letter of Offer as the Mortgagor, and/or (c) the Guarantor, including each of (b) successors, permitted assignees personal representatives. (c) there are these any more notice Conditions than or one instruction demand of apply you, given to all given by of us to you to us any together by one any of one and you of to shall you each shall be of deemed you be on binding your to have own; on the been rest served of you; on all of you; 2.3 (d) we and may at our discretion in any case require any notice, instruction, request or acceptance be 2.5 confirmed by all Borrowers or Mortgagors. 2.6 All documents required by us from you must be in such form and substance acceptable to us and our solicitors A Headings gender includes of these all Conditions genders. are for guidance only and do not form part of the Conditions. 2.8 The References without singular includes the plural and vice versa. (a) word "including including" shall not be given a restrictive meaning but shall also be read as meaning "including (b) prejudice to the generality of the foregoing" and "including but not limited to". (c) "Application "Facility "Letter to: of Documents"; Offer"; Form"; 2.9 (d) "Mortgage Mortgage"; and 2.10 (e) "Security Documents", 2.11 include any other document which amends, modifies or supplements that document to "Facility Facility" whole includes means any part. one of the Facility and/or any part of the Facility "month month" means a calendar month. 3. References statutory body to "person a person" and statute agency or and act governmental any include natural any person, authority, changes company, which whether corporation, are local made to foreign. it firm, which partnership, replaces society, it. association, (a) extent Conditions We Facility will applicable release Precedent or to allow the Facility you to as drawdown we may decide the Facility in our absolute only when discretion) the following are met: conditions precedent (to the (ii) (i) executed to completed satisfaction; all all the other Security legal Documents documents to and our matters satisfaction; we require in relation to (iv) (iii) Facility Offer, you have settled or paid difference between the Price and the amount of the (aa) which is approved for payment towards the Purchase Price set out in Letter of (bb) from your own funds and/or your CPF savings (if used); (cc) have previously Title given Documents to us Security and or any solicitors other Documents relevant the and following documents other documents; in respect required the Property; by us; Company Reg No.: S36FC0753G release Property; all duly of executed the existing instruments, mortgages, deeds charges, and relevant caveats, or encumbrances of discharge over the or 2

3 (v) (vi) (vii) (dd) (ee) all consents, approvals and authorisations required in connection with the (ff) purchase and mortgage of the Property; (gg) CPF accounts CPF Board s consistent letter of with approval Letter approving of Offer the (where amount applicable); to be withdrawn from your (hh) a the in formal the Property Controller event valuation (where the of availability Residential report applicable); of the Property's of Facility satisfactory approval in Singapore to the to us; Mortgagor's Dollars is purchase subject of to (ii) approval being obtained from the Monetary Authority of Singapore or any we regulatory, such as well as evidence of the fulfillment of all terms and (aa) conditions all other documents to such approval as we may (if require any); satisfactory and to us and our solicitors; (bb) are satisfied that: (cc) there results title to the Property is acceptable to us all respects (and our decision including this are regard of no road our defects, shall interpretation usual be structural legal final, requisitions plans conclusive or otherwise, are acceptable and to binding the or various and affecting on satisfactory you); government the Property; to us; departments (ee) (dd) each respects the you); amounts security (and approved our under decision the for Security withdrawal in this regard Documents in the shall CPF is be Board's an final, acceptable letter conclusive security of approval and binding are all (ff) consistent with the Letter of Offer and the CPF Board has given its consent to us (gg) having acceptable first to ranking us (where for applicable); an amount equivalent to the Facility or any part thereof (hh) the insurance stamp fees over and the GST Property relating required to the by purchase us is taken and/or up; the mortgage (ii) Property all legal have expenses been paid stamp or fees have and been disbursements set aside to in our connection satisfaction; with the Facility (jj) Documents a Land no caveat Event Authority; of notifying and Default the Security our has interest occurred Documents in or have the is likely Property been or to will has occur been or paid; lodged would result with Singapore from (ll) disbursement of Facility or any part thereof; (mm) (kk) there criminal you have are or opened no civil) legal the instituted proceedings, Account or against such suits other you; or accounts actions of with any us kind we whatsoever require; (whether (nn) rent, property tax, service and conservancy charges/maintenance fees, sinking (oo) fund respect each contributions and/or such other fees charges and contributions payable against results of of the you, the Warranties the of Property vendor our bankruptcy, have or Representations the been developer paid winding-up, (as to the the Clause and date case judicial 10 of may is release be) true management of and of the the accurate; Property Facility; searches and (qq) (pp) no all exceeded the searches the Property are acceptable to us; our internal satisfaction; other by conditions the credit disbursement; limit precedent of ours and (whether we require or have not communicated been fulfilled to or you) complied would be to (bb) where (aa) your produce interest evidence in the Property to show that leasehold: the unexpired of the lease is of such a period (cc) that which you must may acceptable comply allow your with to us; all your or obligations lessor to terminate under the the lease; and not do anything Company Reg No.: S36FC0753G (dd) in addition, if you obtain if consent must the such furnish Property of consent the any is landlord in other a writing unit documents or in and a the Executive on lessor as such required terms to Condominium: the which by Mortgage us are and acceptable our is solicitors; required, us; you and must 3

4 (aa) (bb) relevant evidence must authority of obtain ensure compliance consent that (if all required) before in requirements writing we and release on to such under the to terms Mortgage the you which ECHS or from allow Act are the acceptable are you developer met to drawdown and to give and us; the any us (viii) (cc) in Facility; and (aa) addition, and you if assignment shall the Property furnish executed to is us a by unit any you, other under of documents construction, the sale and as required purchase you shall by agreement let us us and have: our signed solicitors; between (bb) escrow developer executed and by you which relating will to be the converted Property, to together a legal mortgage with a Mortgage-in- issue of (cc) the Title Documents for the Property; and architect's if Property; the Licensing) developer certificates Act, of Chapter the for Property 130 each of stage is Singapore subject of completion and to has the mortgaged Housing of the construction Developers the development (Control of the of (dd) that will which if the discharge on the developer payment Property the of of mortgage is 85% the part, of Property the over written Purchase the subject Property; confirmation Price to by the from you, SCP the Act and developer's has mortgaged mortgagee (ee) development developer's mortgagee of which will that the discharge on Property payment the is of mortgage 90% part, of over written the Purchase the Property; confirmation Price by from you, the (2) (Control if the developer and Licensing) of the Act, Property Chapter 130 is of not Singapore subject to the the SCP Housing Act: Developers (3) (1) the (if certified true copy of the TOP; is terms part), the written acceptable developer the consent terms to us; of by mortgaged discharge the developer's the of development the Property mortgagee of from which to the the developer's Mortgage Property on (b) HDB flat: In (4) mortgagee, the terms sale which and which are purchase acceptable are acceptable agreement us; to signed us,and; (i) addition, you by you and the on (aa) (bb) if the property is a HDB flat: (cc) have also confirmation previously in given writing to us from or HDB our from that solicitors HDB you are your the eligible purchase following to of purchase documents: the Property; the Property; (dd) acceptable and/or consent or approval in writing to the Mortgage of the Property to us from the HDB unauthorized (in the any case to other renovation us. resale relevant flats) works authority found confirmation (if in the required) Property in writing but have on from such been HDB terms rectified that which all to are the (ii) (ee) you must comply evidence (if satisfaction applicable) with to all our of satisfaction HDB terms and/or and any requirements that other the governmental cover imposed under by HPI authorities; HDB Scheme on you has and or been in relation affected to (c) Bridging Loan (iii) purchase relevant all service and authority and mortgage conservancy (if of required) the charges Property are and/or paid give up all to us other satisfactory date charges of payable evidence of to the of HDB Facility; such and/or compliance; (i) any other (ii) The Commercial Prior Bridging Property Loan must Loan. be drawn down in full before the release of the Housing Loan Company Reg No.: S36FC0753G (aa) evidence signed to and of the the release sale of of your the Existing Bridging Property Loan, you in the must form produce of a duly satisfactory exercised documentary the If dated the following: Sale existing & Purchase property Agreement, a HDB and flat, the the following solicitor confirmation/undertaking: acting for you must option furnish or 4

5 i) proceeds the ( Your If any part of the Bridging Loan is to be repaid through the cash satisfactory solicitors Solicitor ) received representing us) from and to the HDB pay sale irrevocable you such of in sum the equivalent Existing authorisations sale of Property, the the Existing (in Bridging you such must Property forms give Loan ii) The (and interest accrued thereon) from the sale proceeds of your Existing first Property confirming directly to us and procure from Your Solicitor a letter to us Property, the said authorisation. letter approval appointment of first prior from appointment to HDB letter the for release in the was relation sale submitted of of to your Bridging prior the Existing sale to Loan. the of Property release Where your Existing the or of the HDB (bb) If Bridging Loan, you must let us have the approval from HDB of the sale of your Existing Property within two (2) weeks from the date of first they the sale will Existing appointment ensure the Property Existing repayment with is Property HDB. to a private us must of all property, furnish monies a the outstanding written solicitor undertaking acting the to for Bridging us you that in (d) you. Loan offered herein out of the sales proceeds, before releasing the balance to (e) (iii) Lodge a caveat over the Property in our favour. Where Renovation Refinancing Loan (i) any the part Facility submit of the or Facility any updated part is thereof redemption granted is for to statement be renovation used for of purposes, refinancing the existing you an shall existing mortgagee submit loan, as the at you contractors' the shall proposed also: invoice(s); date of (f) (ii) Overdraft redemption; and (i) Facility If where ranking applicable, for amount submit equivalent the CPF to Board's the Facility written or consent any part to thereof refinancing as shall be and acceptable to us having to us; first addition, the Overdraft we and (aa) will release Facility where Confirmation is granted you other than for payment of the Purchase Price, in Authority Title allow and that your Deed the to request of use Mortgage the the in Property Overdraft writing is lodged for is Facility and the issued: registered utilisation only we when: receive with of the our Singapore Overdraft solicitors' Land (ii) If Overdraft (bb) Facility Facility; TOP where is and granted Title your or Deed for request the of the payment in writing Property towards for is the not Purchase utilisation issued: Price we receive of the Property, Overdraft from you a the Facility. copy Overdraft of the 4.1 Facility shall first be released through our solicitors for the payment towards the Purchase Price. 4.2 Drawdown Disbursement written notice of the or Facility such other or period any part as thereof we may agree. may be effected upon us receiving seven (7) Business Days' prior 4.3 Where under Purchase construction, the Price Facility of the is we Property. shall drawndown be entitled progressively to withhold to pay a the sum instalments equivalent to towards the amount the Purchase unpaid and Price uncalled of Property on the 4.4 (a) Thereafter, limited All notices to) in of addition drawing are to irrevocable our other remedies, and you shall you shall be bound bear to all borrow costs and incurred draw accordance by us, including with the (but notice. Facility losses from shall re-employment is be by deemed way of to of cashier's have funds been obtained order, disbursed cheque, for on the the bank drawing. date draft of the or other cashier's similar order, instrument, cheque, bank the draft 4.5 We (b) Company may in Where or on other drawdown date similar of such instrument, by crediting. into the case the may Account, be. the Facility shall be deemed to have been disbursed Reg our No.: absolute S36FC0753G discretion pay the amount drawndown to the developer, builder, architect, contractor, HDB 5

6 any other person responsible for the construction of the Property or to the Government or to any other body 5.1 Interest or shall authority be deemed in to payment be a drawdown of any premium to your account costs or for expenses the purposes relating to the including Property the and calculation every payment of interest. so made became accrue from owing day payable up to to day the on and the date be Facility of calculated payment at the thereof on Prescribed actual the Rate number due from date of days thereof, date elapsed. on whichever it is was later, so lent such or interest advanced or to Unless monthly discretion All interest otherwise or require daily shall stipulated rests from be payable as time stated in to as the time. well in Letter the after Letter as Offer, of before Offer interest any or judgement such shall other be at calculated periodic such rate(s) rests on a as 365 as may we day may be year, determined our with absolute annual, by us time We For in our may the by absolute increase, giving avoidance you discretion reduce one of doubt, (1) or month s from vary we the shall notice to rate time. not in of be writing interest required in such to our other give absolute you period any discretion as prior the bank notice may any for determine. time any and changes from time in the to 5.6 Where us errors interest as any to be rate the interest conclusive prime arising rate, and the from binding board Facility changes rate for (and in all or our not Special purposes prime the principal) Mortgage rate, on you. board Rate is rate payable, shall or save Special CPF for savings Mortgage manifest, shall Rate clerical not and be a used or certificate computation to service by Interest the interest (including payments. default interest) shall be capitalised and added to the principal sum then owing at the end (a) of Unless Default each otherwise calendar Interest with month and shall bear interest accordingly. capital respect stipulated repayments to the and the Housing interest Letter Loan, of (on Offer: Commercial instalments Property and capital Loan and repayments), Term Loan, fees, all commissions, instalment payments, and all (b) with addition time charges which are not paid the due date shall be charged with interest at 2% per annum in interest to the Prescribed Rate such other rate as we may in our absolute discretion require from or to time seven days from the date of first default until the date of actual payment. demand respect to Overdraft Facility not paid and/or utilisation in excess of the approved limit, payment, such or other on such the interest date rate amount the as demanded we to Account accumulate may in is and/or its overdrawn by absolute overdrawn way of in discretion compound excess shall be of interest charged the require approved subject from 5% limit time over to a to our until minimum time prevailing the from interest date the prime of date actual charge rate of (c) for of the to S$10.00 per month or such other amount set by us in our absolute discretion from time to time. For under purposes of calculating default interest, all accumulated and capitalized interest shall be deemed be credit any principal; the other Letter balance, moneys of interest Offer, or amounts and shall where which be any charged are debit payable at of 2% the on in demand Account addition in causes accordance to the Prescribed to with overdrawn these Rate Conditions or in such excess other and of (d) all rate the accumulate as we may its absolute discretion require from time to time from such date of demand or date interest default Account rate. by interest is way overdrawn of compound shall (as be interest; payable the case as and may well be) after until as the before date any of judgement actual payment, at the applicable such interest default to The Repayment Housing Loan, Commercial Property Loan and the Term Loan shall repaid by monthly instalments comprising shall of principal and/or interest such other instalment plan as set out in the Letter of Offer. and the monthly be commence Term made instalment Loan on on the are the corresponding fully date repayments falling repaid. in day one relation of month each from subsequent to the the Housing first month disbursement Loan, until Commercial the Housing date. Property Thereafter, Loan, Commercial Loan monthly and the Property instalments Term Loan monthly deduction You shall open and maintain the Account with us. We shall have the right (but not the obligation) to deduct the suspend Company Where any instalment(s) all before the due on due date. dates from that Account. You shall ensure that the Account has sufficient funds for Reg repayment further No.: S36FC0753G disbursements of the Facility of the is not Facility. made within any period required by us, we shall have the right to 6

7 7.5 Facility You arrangements shall limit ensure with us, that not such the exceeded, approval Account even and is not arrangement temporarily, overdrawn being except subject excess with of to our the such prior credit terms approval and balance conditions and or that upon as the we making may Overdraft in prior our 7.6 absolute (regardless together Housing with discretion Loan, of interest whether Commercial require. thereon. approval Property In has the Loan been event and granted that Term the or Loan not), Account or such you is part shall overdrawn thereof immediately which or the are repay Overdraft prepaid, the amount in limit full exceeded or excess in part, cannot be redrawn or reborrowed except with our consent You The Prepayment respective Bridging loan duration and as Overdraft set out in Facility accordance shall with be the repaid Letter in of full Offer or such before other period date of as expiry we may of decide. its months' may interest fully repay instead the Facility of notice. after If you do have not given repay us the three Facility (3) months' fully within notice three in writing (3) months or paid from three the date (3) 8.2 Provided of three be, your if (3) you notice months' wish for to notice proceed full repayment, or with the full your of three repayment. notice (3) shall months' be interest deemed to instead be ineffective of such fresh and we notice, shall require as the case a fresh (a) month's partially interest that repay no the instead partial Facility, of repayments is notice, a after HDB as Flat, you may follows: have by be an made given amount after us one of a at (1) notice least month's for full notice repayment and writing any has to been us or given, paid you one may (1) be 8.3 (b) If Integral Property multiples is of S$1, a HDB Flat, each by an or amount any such of amount at least S$10, we may determine and any from further time to amounts time; must or 8.4 If before the you the Facility repay be date the integral of is Facility the partially multiples full fully repayment prepaid, of or S$10, partially as you stated shall within each in pay the or us the Letter any such Initial such revised of amount Offer. Period, monthly as you we may instalment must determine pay the calculated from Prepayment time based to Fee time. on on the or 8.5 If outstanding principal repayment Facility over remaining Loan Period. You must continue to pay the monthly (of notice and interest thereon) of the Facility at such amount as if it is not affected by your partial following: of the facility until we give you any prior notice of change the amount of the monthly instalment. (a) you of do repayment, revise not fully or partially repay the Facility as the case maybe, after you have given us the relevant intended the repayment on rate(s) the date is of subsequently interest of the expiry payable aborted; of on your the notice, Facility we shall which have shall the be right applicable to do whether one or more not of the 9. (b) impose an administrative fee of such amount as we may in our absolute discretion impose; and/or If: (c) require as the case you may to serve be. a fresh notice of repayment in accordance with Condition 8.1 and Condition 8.2, (a) Cancellation you cancel any part of the Facility; or (b) any part of the Facility is not released within the Availability Period, 10.1 You you must pay us the Cancellation Fee on such amount cancelled or not released as stated in the Letter of Offer. (a) (b) Warranties warrant you and have Representation represent made full that: disclosure in writing of all facts and information requested by us; (c) all given those information, documents to us connection are statement, true and with correct warranties the Facility and or we can representation and rely all particulars the made same indicated by granting you or or evidenced the caused Facility to be to any indicated you; document in (d) there (if may and are no litigation, arbitration or proceedings claims pending or threatened against which the have a material effect your ability to perform your obligations under the Facility Documents approved Security Documents; Company Reg savings the Facility is granted for the purchase of the Property), you have paid or will pay on or before financial release for of payment the Facility, towards the Purchase difference Price between as stated the Purchase in the Price Letter and of the Offer, Facility from which your CPF is No.: S36FC0753G and institution cash, and or not a loan out from of funds the vendor obtained of the through Property; a credit facility granted by any bank 7

8 (e) (f) Letter of Offer and all related documents to which you are a party and the transactions (g) contemplated judgement of any by you court, do contract, not and will charge not or contravene undertaking or affecting conflict you with or any law, of your regulation, assets; order or (h) there are are able bankruptcy to pay your petition, debt proceedings, are not insolvent or order within made the against meaning you; of the Bankruptcy Act (Chapter (i) 20) of Singapore; (j) you no all for statutory the acts, have benefit not conditions demands entered of your have and into creditors things been any made statutory required generally; against to or you; be other performed and arrangement and observed (voluntary by you or otherwise) before your or acceptance composition of 10.2 You the Letter of Offer and execution of the Security Documents to constitute them your valid and and agree shall that continue compliance enforceable each to of with be obligations the true all representation and applicable correct in accordance laws and in all warranties and with respects regulations. their is with respective deemed reference repeated terms to upon prevailing have each been release circumstances performed of the and Facility so observed long as in We the Facility remains outstanding and unpaid. Without representation Events reserve the and right warranty to vary made review by you restructure is not true recall or incorrect cancel in the any respect. Facility if any information, statement, any the Facility of prejudice Default which to is are any repayable outstanding other terms on demand, in unpaid, the you Facility shall and immediately all Documents other charges and repay, our on and right demand, moneys to demand the payable Facility immediate in relation and repayment interest to the of on (b) Facility upon any of the following events of default happening: (c) (a) these of Conditions the instalment are not repayments paid when of due; the Facility and interest payable under the Letter of Offer and (d) any agreement money commit you or security owe threaten us under for to the commit the Facility; a breach Documents of any and of the Security terms and Documents conditions is of not the paid Facility when due; or any (e) any creditors you; of become your or present insolvent you have or any future you step enter taken into for making for any or arrangement of in a respect bankruptcy or of money composition petition borrowed for bankruptcy or the raised benefit order (whether of against your from (f) us any other person) becomes (or becomes capable of being declared) due and payable before its (g) stated appropriate due grace date or period; any such indebtedness is unpaid when due or, as the case may be, within an (h) you a if die or become insane; Property, Documents; distress we are or or of any execution the of view your or that other writ the property of Guarantor seizure assets; and is sale unable or to attachment fulfill is his levied obligations upon or under issued the against Security the (k) (i) (j) if a receiver notice or is proposal appointed for over the the compulsory Property, acquisition or any of of your other Property property, or any assets part or of undertaking; the Property is (l) where issued mortgage or made under any Act of Parliament, gazettes or other statutory provisions; be event able CPF to occurs; savings perform are circumstances or comply used in with respect arise any which of of your the gives Property, obligations us reasonable a under default grounds any under Facility to the believe CPF Documents Board's that you or charge Security may not or (n) (m) any Offer Documents; similar the of relating your credit warranty, report to check the on Facility, on declaration you you is from unsatisfactory as varied any representation credit from to bureau time us as conducted set time, we may out is decide in or by these becomes us at from our Conditions untrue; sole time discretion to and time the or ; Letter any other of 12.1 You (o) (p) if any in our of the opinion, Events any of security Default applies given to to us the in Guarantor; relation to and getting No Mortgage, the Facility, is in jeopardy. Company shall our Sale Or Tenancy Reg not consent No.: sell S36FC0753G the in Property writing. or create any further mortgage enter into any tenancy agreement without first 8

9 12.2 We (a) (b) may refuse we for are to any give of other our view reason consent that which under the we Property this determine Clause may is be or reasonable. put impose in jeopardy some term or to otherwise our consent be prejudiced; if : or Where that Owner-Occupied Occupied Property and If this require the we warranty Property have repayment agreed becomes shall to of at grant all untrue all or you times any at the any sums remain time, Facility owing we your from shall on the possession you be basis or entitled vary that and the to you occupied rate cancel occupy of by interest or you. reduce Property payable the amount yourself, by of in the you relation Facility warrant 13.3 to the Facility or make any other variations to any terms and conditions relating to the Facility or any 14. You security we prescribe. for the Facility as we shall in our absolute discretion determine, immediately or within such period as (a) Withholding If: shall from any of Condition time Release to time of Precedent Facility on demand is not provide met; us or with evidence acceptable to us that this warranty remains true. (b) Event of Default occurs; 15.1 we part shall of the be entitled Facility. to, without giving you any reason, suspend or withhold the release, or cancel, or vary any 15.2 We valuer Security If Margin security may the to from market margin have time access value we to shall time of to be conduct entitled, Property. valuation without falls or below prejudice revaluation what to we, any at in your other our cost right sole and opinion, which expense. we have, consider You to shall reduce to allow be the an us adequate Facility, or our 16.1 withhold Facility as the we release may specify or further and/or require release additional of the Facility, security and/or acceptable to require to us to repayment be provided of such to us. amount of the 16.2 Valuation Fees 16.3 You We Where will pay a non-refundable valuation fee for the appraisal of the Property, unless otherwise agreed by us in (a) writing. shall be entitled to appoint valuer(s) at any time and on such terms as we deem fit. (b) the Property submitted issued and by is a to a private HDB together Flat, valuer the with assigned valuation the application by report HDB and the for to be: issued the sale valuation and purchase report or is transfer not more of than the three Property; (3) 17. (c) months before the date of application for the sale and purchase or transfer of the property; and Where acceptable without limitation, to all parties HDB, CPF involved Board in and the the sale Bank. and purchase or financing of the Property including, (a) Central Provident Fund (b) CPF savings are used in your purchase of Property, you agree that: (c) the Letter Facility of is Offer; granted subject to the CPF Board's approval of withdrawal of such sums as set out in (d) shall comply with terms and conditions of the CPF Board's charge/mortgage; (e) any before CPF the savings release approved of the Facility, by us towards unless part otherwise payment agreed of the by us; Purchase Price must be fully released (f) we shall will give have us the a first copy of priority the written claim approval for from Facility the CPF Board taken before the the purchase release for of the Facility; Property; (g) you and of must execute the confirmation of priority arrangement prescribed by the CPF Board and comply with Property terms of the confirmation. evidence 55 are or required to upon the meet full Bank to Minimum settlement obtain that Sum CPF the requirement Board s of discharge the charge Facility of under on CPF whichever the Board s said CPF Act, Property charge is the you on later. only are the required secures Property However, the to once if furnish said you you Minimum opt reach satisfactory to use the Sum. the age You Company The including Insurance with insurance must fire, insure lightning, explosion, with the riots, Insurer or strikes and keep as we it may insured from time at to your time own consider expense fit. against all risks Reg as mortgagee No.: of S36FC0753G the and Property loss payee. with the Insurer must be in the joint names of the owner of the Property and us, 9

10 If paid (a) You shall ensure that all insurance premiums, including the premiums payable under the HPI Scheme, are promptly (b) you on fail due be insure to: dates. insured the under Property; the HPI Scheme; 18.5 You (c) (d) must not: renew so at the your insurance cover expense. under of the HPI Property; Scheme, or (if renewal is applicable) we may, but shall not be obliged to, 18.6 The (a) (b) do anything to and at the Property which would enable the Insurer to avoid its liability for insurance (a) opt of the out Property or terminate or increase the cover the under cost the of insurance; HPI Scheme and without our earlier written consent. (b) sum insured the as under: of insurance of the Property shall be the reinstatement value of the Property, at such other sum whichever we the may from is lower time is shall or to governed at time be such the determine; by other reinstatement sum Land or as Titles we may value (Strata) from of time the Act, to Property Chapter time determine. or 158 the of Singapore), amount of the insurance Facility, 19. (c) MARKET (If with the Property requirements is a under HDB Flat) the CPF the Act. insurance coverage under the HPI Scheme shall be in accordance If a Market DISRUPTION Disruption Event occurs in relation to the Facility for any interest period, then the Bank has (a) rate absolute of interest. discretion Such at any notification time upon notification shall be conclusive (but without and binding your consent) you. be For entitled the purpose to revise of this or vary Clause, the (b) Market Disruption Bank fund means: or continue to fund Facility or any advance during any interest it is period; impracticable for (c) by reason of circumstances affecting the relevant interbank market generally, the Bank determines that (d) relevant cost to it SIBOR of obtaining or SOR or matching other applicable deposits benchmark the relevant rate(s); interbank market would be excess of Event (e) adequate and fair means do not exist for ascertaining the interest rate for any interest period; (f) deposits the by Facility are (or not any available part of to it) for Bank any in interest the relevant period; interbank market in sufficient amounts to fund likely cost Screen Rate is not available the Screen Rate zero or negative; the reason aggregate of funding increase.for of any of the circumstances any margin, other avoidance the costs whatsoever, Bank s in of relation cost doubt, the of the funds to Bank revised the in (from funding its rate whatever sole of discretion interest the source Facility it shall is reasonably have of include the increased view among selects) that or others, its are and and for For any mandatory cost. purpose of this Clause 19: Cost of means in relation to any period the rate payable by the Bank the the cost borrowing in the current of the relevant Facility for such period in respect of relevant amount imposed (i) in the case of in Dollars, it means relation to any period the rate payable by jurisdiction Bank for the cost of borrowing in Singapore for such period respect of relevant amount plus to any cost period from of maintaining over time of banks to rate time statutory in payable Singapore by the by reserves Monetary the and Bank (ii) and Authority for in liquid case the costs assets of of borrowing Singapore of and/or borrowing complying ( MAS ) foreign such foreign with currencies, such other currencies other requirements it authorities means for in such as relation may having period be Fund 20. complying jurisdiction respect with of over other banks relevant requirements in Singapore. amount as plus may the be imposed cost of from maintaining time to time statutory by MAS reserves such and other liquid authorities assets and/or having statutory No Chapter Unfair Preference Company been disposition assurance security payment which may be avoided under the provisions of the Bankruptcy Act, to recover given 20 modification of Singapore or relating re-enactment to unfair thereof preference, from time to transaction time and no at release an undervalue or settlement or otherwise, which may or have any Reg from or No.: made you S36FC0753G on to the faith full extent of any of such disposition moneys and/or assurance liabilities security under or these payment Conditions, shall prejudice under the our Letter right 10

11 21 of Offer or the Security Documents. Such disposition assurance security payment release settlement (as the case Singapore may be) shall be regarded as never having been granted made. is You Internationalisation a acknowledge breach relating of any that to such of the you Singapore internationalisation are aware Dollars that by you, we have we of are Singapore to entitled comply Dollar with to immediately the directives in the event withdraw of that the the we Monetary Facility determine Authority and that demand there of 22. out our immediate Change compliance of of the repayment Law Facility with such by and you you directives. of shall moneys forthwith inform the time us being of any outstanding change your and unpaid residency in connection status for with the purpose arising of contemplated If any time we determine that is unlawful contrary any directive requirement or request (whether receive not having force of law) of the Monetary Authority of Singapore, HDB or other governmental, fiscal from monetary or other authority or agency of any state, for us to maintain or give effect to our obligations as you, other whereupon interest, sources under we fee shall provided these commission be Conditions, deemed that this discharged at under the not rate the unlawful, from or Letter rates our of obligation failing applicable, Offer which under we the we shall Security shall these use forthwith Conditions, our Documents best give efforts under and/or notice the to thereof Letter charge fund you or of Offer or Security Documents and you shall within 30 days of the receipt of notice to this effect, repay to 23.1 We us and Force Majeure moneys other amounts for the or time fees being remaining outstanding unpaid. and unpaid and interest thereon accrued up to the date payment industrial Offer including shall or not (but dispute be Security not liable limited or action, Documents for failure to) civil fire, where to disturbances, earthquake, perform it attributable any flood, of acts our of epidemic, obligations public directly enemy, accident, or under indirectly natural these explosion, catastrophe, Conditions, to any casualty, act under beyond embargo, lock-out, the our war, Letter control riot, acts of 23.2 of failure God or of to any factor mechanical, power supply in a nature electronic or transmission of a or force electrical or majeure, communication or sabotage, data processing lines. computer system breakdown or equipment or any form any of disruption or 24. We shall also not be responsible for any loss suffered by you on account of any delay in executing documents We pertaining due Involuntary and/or to any such event to Loss the receiver as Facility stated appointed or Clause the by release us shall or not advance be answerable of the Facility for any or involuntary any part thereof loss happening where such in or delay about is 25. the under Singapore Indemnity exercise the or Letter by or the execution of law Offer, for of the the Security time powers being Documents or trusts force. or conferred by the Conveyancing upon us or such Law receiver of Property under Act, these Chapter Conditions, 61 of 26. You and the Currency agree expenses Facility, Indemnity to indemnify and the Facility other and keep liabilities Documents us fully and which indemnified the may Security be incurred against Documents. all made, claims, taken demands, or suffered actions, by us proceedings, connection losses with (b) Unless (a) otherwise Your Any obligations specifically agreed in writing by us relation to the Facility: these obligation shall be to pay the obligations or liabilities in the same currency in which the said other or liabilities are incurred ("Currency of Account"). judgement amount received or recovered by us in respect of any sums expressed to be due to it from you under constitute Conditions, the Letter Offer and/or the Security Documents in a currency ("Relevant Currency") in than the Currency of Account (whether a result of, arising from enforcement of, a order of court of any jurisdiction or your death or bankruptcy or otherwise) shall only date, a discharge to you to the extent of the amount in the Currency of Account which we are able, Account accordance the date purchased the of with first that with our date receipt usual the on Relevant or practice, which recovery it Currency to is (or, purchase practicable if is it with less is to not the than do Relevant practicable so). the amount If Currency that to make amount the so that received Currency in purchase the Currency of recovered on Account that of 27. Ruling expressed you shall indemnify to be due us to against us under any these loss Conditions, sustained by the us Letter the of result Offer thereof. and/or the In any Security event, Documents, you shall Company Off Reg indemnify Account No.: S36FC0753G us against the cost of making any such purchase. 11

12 open In addition and without affecting any of our rights under the Facility Documents and the Security Documents, if any guarantee or other security for the Facility is terminated, or for any reason which we deem justifiable, we (notwithstanding may immediately open a new or separate account ("New Account") with you in our books and if we do not in fact credited time such to that New the Account New New any Account Account legal we shall was or and equitable opened be shall deemed or not rule deemed to be have of considered to presumption done be opened, so to reduce to the all the time payments the contrary) of amount such made be termination owing credited by you by you or or and on to deemed your as us from at behalf to the have and time shall after been of 28.1 We or the contingent) opening of owing the New to Account us under or that any New other Account time, have unless been paid we expressly to us and direct satisfied otherwise full. after all sums (actual account moneys Right To Debit Accounts bank shall have the right (but not the obligation) at any time and without first notifying you to debit your charges, payable by with you us costs, to under whether under expenses, or in or Singapore respect GST connection and of or other elsewhere, Facility, with taxes the and with Facility together levies, the interest, or with overdue pursuant commission, instalment monthly to this charges, instalment Clause payments and/or fees, repayments expenses, all the other terms and normal moneys of other If Security Documents. In payable such debiting the amount causes overdrawn your account or further to be overdrawn or (as further case overdrawn may be) (as in accordance the case may with be), Clause interest 6. shall be and (in Right Of Set-Off or addition to any lien, right set-off or other rights which we may have, we shall be entitled at any time elsewhere) without notice to you to combine or consolidate all or any of your accounts and liabilities with to us several towards Singapore satisfaction joint, or any elsewhere) or other such of respect or accounts any set-off your whether be or held liabilities transfer by you liabilities any to singly, sum us or on sums be jointly, any actual other credit or or jointly contingent, of one or with or accounts more primary any of other (in such or Singapore persons accounts collateral, and or in 30. notwithstanding that credit balances on such accounts and the liabilities any other accounts may not be If expressed prevailing Application any sum in paid rate of the Moneys or of same recovered exchange. currency in respect and we of shall your have liabilities the right under to these effect Conditions, any necessary under conversions the Letter of Offer our own Security Documents is less than the amount then owing, we may apply that sum to interest, fees, principal or 31.1 You any fit, amount including due in crediting such proportion the same and or part order, thereof and generally to a suspense in such account. manner as we in our absolute discretion think (a) Other shall: Fees pay all GST, stamp duties, registration fees, legal fees, administrative fees and out-of-pocket (b) pay expenses registration Facility incurred by us in connection with the Facility and the preparation, execution, perfection out-of-pocket all legal such of expenses fees the time as Security as between in connection deem Documents solicitor appropriate; with and and demanding all client other on and documents a enforcing full indemnity as payment we may basis of require moneys and all in due relation other and costs owing to the and to 31.2 We (c) us under or in connection with the Facility; insurance shall, to at premiums indemnify pay our any absolute (including such us against GST, discretion, or any the any liability premiums other have Taxes. the due with right under respect (but the to HPI not or resulting Scheme), the obligation), property from your to tax, delay valuation any in paying fees, fees, or expenses, failing GST, from governmental by thereon you the as at date we the or may of rate statutory decide. payment set out You by levies us shall Clause to and forthwith taxes 6(c) date and or of reimburse such full any other repayment us costs, rate for by as any charges, you, we such may such amount determine expenses interest paid and from by to payments us be time together payable time, due as with and well calculated not interest after paid We charges as may before at judgment any time in connection and accumulating from time with to the by time Facility. way without of compound prior interest. notice, add to, withdraw or otherwise vary the fees and levy counterclaim All No Deductions sums and Withholdings Company or payable by you to us shall be paid free of any restriction or condition, without set-off, defences Reg any No.: other and S36FC0753G free charges and clear or duties of any whatsoever. deduction You or withholding shall deliver (save to us as required demand by a certificate law) on account deduction of any tax, or 12

13 33. information other evidence satisfactory to us that any amount withheld or deducted has been paid to the proper authority. from Immediately Information time to on of time. our a proprietary request, you nature) shall regarding provide us your all operations statements, and information, finances as materials may be reasonably and explanations required (except by us You outgoings Outgoings the The shall same Property at let in any respect shall us time. have be of all kept the receipts Property good for and as or substantial and other when evidence such repair payments of and payment condition have of been property and made we or shall tax, when maintenance have we request. the right fees to and inspect other You through Change agree of Address A Statement statement such Of to or channels Indebtedness promptly certificate as inform the signed Bank us of may by any our make change President, available in your Senior from mailing time Managing to address time. Director, by notifying Managing us Director, in the prescribed Vice-President, form, 37. except Associate, Legal Officer or any authorised officer as to the amount owing by you to us for the time being shall, Notwithstanding be binding for on clerical you. mistakes appearing on the face of the statement certificate, be final and conclusive and (a) Indulgence (b) we available that: shall may not have to be us delayed accepted held on to your or have payment default; failed waived for or or any omitted overlooked moneys to outstanding exercise or accepted any under such right, the default power, Facility and privilege, may after at any such claim time default, or exercise remedy we 38. enforce any of the or remedies available conferred to us or available any delay to us or shall indulgence not be by held us to in prejudice taking steps or be to a our waiver of our rights of action against you. assignee Assignment Transfer in We may at any time without the concurrence of and without notice to you, assign and transfer all or any part of and respect rights that or of and/or of transferee the the assignee obligations rights shall obligations transferee be to entitled such person shall assigned to the or be persons deemed full or transferred benefit to as we of expenses may such to in it. our rights properly Where absolute and/or applicable, incurred discretion obligations and our payable think costs as if fit. and by it expenses you. Any were such You us The shall Incorporation mortgage not assign document(s) Of or Usual transfer Mortgage shall any be Terms of your a form rights with or terms obligations and conditions in respect we prescribe. of the Facility or any part thereof. 40. Without supplements/variations our Bank s prejudice Memoranda to the of thereto. foregoing, Mortgage Nos. these 70, Conditions 71, 85, are 91, in 108, addition 165 and/ to the or terms 357 and any conditions amendments contained and/ or in 41. Other Terms And Conditions The All shall other also terms apply. conditions set out in agreements required by us to be executed in relation to the Facility under obligation Right Facility to these Review at Conditions, may law be or in reviewed equity under the from to make Letter time or to of to time Offer continue and or the at to any make Security time the Facility by Documents us at available. our shall absolute be deemed We shall discretion to have impose and on right nothing us any at 42. our and/or Facility. absolute to demand discretion immediate to payment vary, amend, of all terminate, moneys and reduce, liabilities suspend (whether or cancel actual all or or contingent) any part of owing the under Facility the Amendment of Terms 43.1 In We amendments have the when right made to shall amend be deemed these to Conditions be part of and these in the Conditions Letter and of you Offer shall at be our bound sole by discretion the same. and such (a) Notices these Conditions: your Company Reg live No.: at "Mailing Address" means the of the Property as set out in the Mortgage, or if you do not S36FC0753G the Property, your latest address notified to us in writing from time to time; and 13

14 43.2 (b) your writing "Facsimile from time Number" to time means and confirmed the facsimile that transmission we may use for number sending (if any) you notices which you under have these notified Conditions. us in 43.3 Notices We may give are by treated you posting facsimile notice as or given under transmission delivering to these you Conditions: on: to to your you Facsimile at your Mailing Number Address; (if any). or (a) post, the day after which it is posted; 44.1 You (b) (c) if by by facsimile delivery, transmission, the day the was time so delivered; the transmission or costs is concluded. request Telephone, Facsimile and Indemnity indemnity shall fully indemnify us against any consequences, claims, demands, proceedings, expenses (including legal (a) to a shall taking accept, extend indemnity instructions rely to and cover basis) act given situations or communication or losses purportedly including whatsoever or given but instructions that not by be may or limited sent arise via or or to: the purportedly be telephone, incurred sent by facsimile us by in you agreeing and or . acting at Such your upon (c) (b) any them; error delay failure whatsoever and wheresoever in any transmission and/or communication (i) facilities; being access otherwise to and/or affected use by:- of such forms of communications being prohibited, restricted, delayed or (ii) laws and regulations of the country or jurisdiction from where you access and/or the (iii) terms country modification act or conditions omission jurisdiction or upgrade by prescribed the of ISP; access; of our by website; the relevant Internet Service Provider ("ISP ISP") in such 44.2 interruption of, interference with and tampering of such forms of communications; and/or Any such forms (iv) of communication any otherwise breakdown due shall from to or any you malfunction be deemed cause shall whatsoever. be to of irrevocable have computer been received software and shall (in or not the equipment be case effective of whether any communication until belonging received to made by us via us facsimile) sent receipt when the transmission thereof is confirmed by an activity report stating the correct number of pages over to correct facsimile number and (in case of communication made via ) when we have acknowledged the facsimile thereof by a reply to you. liable We are authorised to rely and act upon any instructions or communication given or purportedly given to us by you that telephone or in writing signed or purportedly signed by you sent purportedly sent by post, resulting and we are not required to obtain a written confirmation thereof. You shall not hold us unauthorised for acting upon any such instructions or communication notwithstanding that it subsequently shown given the same was not given by you. You understand that any risk of misunderstanding, any error or loss respect over of from the equipment alterations instructions telephone belonging of or instructions or from communication to the you use or or of us any the given or error otherwise) post, by loss unauthorised facsimile are delay entirely or resulting persons, your (whether from any risk error instructions for not or which loss arising or we resulting communication shall from not or from be in 44.5 You liable. We are authorised to treat any instructions or communication given or purportedly given by you as new instructions or a acknowledge change of or the communication that previous under instructions no given when circumstances it or is purportedly unspecified communication whatsoever given that to given. the are us by instructions we you. obliged Notwithstanding to or verify communication the foregoing, authenticity are a confirmation we reserve of any 44.6 We the right at any time to refrain from acting promptly upon any instructions or communication given whether purportedly loss, are liability authorised with given or (without by expense you the in arising being use order obliged) of out to a tone verify of so to warning refraining record the authenticity device any to telephone act. and we thereof may conversation use without such made recordings incurring purportedly any and/or responsibility transcripts made with you for as evidence in any dispute. We shall not be obliged to maintain such recordings and transcripts keep any 45.1 Without copies recordings thereof. and transcripts You shall not or any be entitled such copies to listen thereof. to, peruse, make copies of otherwise have access to such Company Consent Reg to prejudice Disclosure No.: S36FC0753G to our rights to disclose all or any customer information (as defined in the Banking Act, 14

15 otherwise, Chapter 19 we, of Singapore our officers, (the employees, "Banking Act") agents of and you all whether other persons under common to whom law Section or under 47 the of the Banking Banking Act Act (a) applies are permitted by you to disclose (with or without notice to you and whether orally or in writing) any or (b) all Clause customer 46 or any the information (as such term is defined in the Banking Act of you, for the Purposes as defined in government as guarantor Commissioner set out agencies, within or surety of Stamp this officials, or Clause Duties, co-mortgagor; 45 ministry, Registrar (where specified), departments, of Titles, and Registrar courts to the or of following relevant Deeds, statutory parties: bodies boards in Singapore and/or any or (d) (c) our under elsewhere, in connection with the Facility or security under the Security Documents; Documents solicitor(s), Transferee the Security for any under your Documents, purposes or solicitor(s) relating connected or the to and solicitor(s) the with any Facility other such acting person transfer or any for involved part such or and assignment person; with the the security or Facility proposed under or the transfer security Security or (f) (e) any interest assignment; receiver person who the appointed has Property or is by with claiming us under our consent; an the interest Mortgage; in the Property or to whom you are proposing to grant an (h) (g) the Security insurer, under Documents, valuer Security for proposed purposes Documents; insurer related to valuer insurance of the or Property valuation or of any the other Property security or any under other (i) (where any scheme security person administered any to or of be organisation the given Facility by funded you; participating relates by us) to a your in staff the employer loan provision granted for purposes of to electronic you relating under or your to without that employer's staff limitation, loan staff and other loan any (j) services Singapore investigating connection with banking services used by you connection with Facility, whether connection person or with engaged discrepancies, outside the collection by us Singapore, to errors collect of such for any claims; sums; the sums purpose of money of owing the operation to us from of you, the for services any purposes including (l) (k) any of our head office, branches, representative offices, subsidiaries or related corporations (each a administrative, such "Related Party") in any jurisdiction for purposes credit exposure monitoring, data processing, and or checking, of Related our agents, Party,; telecommunication, other contractors, services or third facilities computer, party to payment, service us relating providers collection, to operation or security, professional our clearing, business advisers, credit whether who reference provide in or 45.2 (m) (n) credit outside any credit or Singapore; charge bureau card that companies is recognised credit by the or charge Monetary card Authority enquiries; of Singapore. and 46.1 To Our disclosure rights which under we this may Condition have under shall the be Banking addition Act or and any shall other not laws. affect nor limit any of our other rights of disclose BOC s process, s Personal and/or administer Data process Protection and/or your personal manage data. your relationship Such with data us, includes we will information necessarily about need you to set collect, out in use, your 46.2 Your Application obtain address, Form, Title Documents and any other personal information provided by you, possessed by us or that we data), failure about may/would personal you, to supply result contact whether certain details, now us or personal being date the unable of data future. birth, to Some us process, gender, (or examples if specimen administer we are not signature your and/or permitted name, and manage identification etc. by you your to relationship process number, your residential with us Depending question We the extent by which you do not permit us to process your personal data or the extent of personal (a) which you do not provide to us, it may mean that we will not be able to continue the relationship in (b) will/may or enter collect, into use, a contract disclose with and/or you process or continue your the personal contract data with for you. one more of the following purposes: (c) considering facilitating, and/or processing your application/transaction with us; Company Reg providing external with us; processing, dealing with, administering, managing and/or maintaining your relationship No.: S36FC0753G providers you with provided our services through and us; products, as well as services and products provided by other 15

16 (e) (d) carrying contacting and/or out your instructions or responding to any enquiry given by (or purported to be given by) you but not your postal limited behalf; you mail or to for communicating the purposes with information of you administering via to phone/voice you related and/or call, to managing the text Facility. message your relationship and/or You acknowledge fax with message, us and such agree as (f) that to you, such which communication could involve by us disclosure could be of by certain way of the personal mailing data of about correspondence, to bring documents about delivery or notices of (g) dealing the contract same in as with any well us matters as including on the relating performing external the cover the services contract; of envelopes/mail and/or products packages; which you are entitled to under your (h) carrying required accordance by out law credit with or that checks, legal may have due regulatory diligence been put obligations in or place other by screening us; or our activities risk management (including procedures background that checks) may be (i) to complying your not prevent there relationship with any investigate or suspicion with as required or any of any the fraud, by other aforementioned; any unlawful applicable matter arising activity law, from governmental or omission your relationship or or misconduct, regulatory with requirements whether us, and relating whether of any or to (j) complying relevant any authorities, jurisdiction, including meeting the requirements to make disclosure under the requirements of to law binding and/or for the purposes of any guidelines issued by regulatory or other requests with (including whether for information as required but Singapore not by from limited any public elsewhere, request to the agencies, or Monetary with direction which ministries, Authority of we any are governmental expected of statutory Singapore, boards comply; authority; CPF Board, other HDB, responding similar Inland (k) and the Revenue aforementioned courts). Authority For the of parties avoidance Singapore, upon their of Insolvency doubt, request this & or Public means direction; that Trustee s we may/will Office, disclose Commercial your Affairs personal Department data to (l) conducting surveys and/or research, profiling) analysis to improve and development our services activities and facilities (including but order not to limited enhance to your data relationship analytics, (m) storing, financial with whether us your benefit, to improve any of our products or services for your benefit; risk exposure), within hosting, reporting, audit, outside backing regulatory and Singapore; record-keeping up (whether reporting, for purposes; management disaster reporting, recovery or risk otherwise) management of (including your personal monitoring data, 46.4 (n) (o) (collectively, any disclosure other Purposes ). purpose purposes reasonably set related out to Clause the aforesaid above; and 46.5 We above also be collecting from sources other than yourself, personal data about you, for one or for Purposes, and thereafter using, disclosing and/or processing such personal data for one or more of the Purposes. to may/will need to disclose your personal data to third parties, whether located within outside Singapore, more one or more of the above Purposes, as such third parties would be processing your personal data your Purposes. In this regard, you hereby acknowledge, agree and consent that we may/are permitted Clause disclose your personal data to such third parties (whether located within or outside Singapore) one (a) of the above and for said third parties to subsequently collect, use, disclose and/or process (b) personal 46.3, any data for or more of the above Purposes. Without limiting the generality of the foregoing or of your such third parties include: other head office, associated or affiliated organisations or related corporations; companies of personal services our and agents, data to centres; us contractors our such behalf as or mailing including third houses, party but service not telecommunication limited providers to those that companies, which process provide information will administrative be processing technology or 46.6 You (c) third parties to whom disclosure by is for one or more of the Purposes and such third parties would withdrawal in turn be collecting and processing your personal data for one or more of the Purposes; and depending (d) have the third parties as mentioned Clause 45.1 above. Company Reg on of right to withdraw your consent given hereunder, whether in part or as a whole. However, your No.: the consent S36FC0753G extent could of your result withdrawal in certain of consent legal consequences for us to process arising your from personal such withdrawal. data, may In mean this that regard, we 16

17 46.7 be your will terminated. withdrawal. not be able Should to continue you wish with to withdraw your existing your consent relationship in part with or whole, us/the please contract write you to have us with providing us will details have to of 46.8 For as shall us the continue to avoidance collect, to of apply. use doubt, or disclose in the event your personal that Singapore data without personal your data consent, protection such law permission permits an granted organisation by the such law you Marketing and Promotional Information and Materials possess Processing for Marketing Purpose and Postal Mail and Communication for Marketing Purpose information, We intend had about previously to, materials you may from or provided will, time and/or to us, documents its time, that discretion, for you relating the now purpose provide collect, to products of us, use, providing that disclose and/or you you may services and/or with in marketing, future process (including provide personal advertising products us with data and/or about promotional you services that that we In of promoting, third party merchants whom we may collaborate or tie up with) that we may be selling, marketing, offering or promotional whether such products or services exist now or are created in the future (the Marketing Purpose ). agents, the above regard, we intend to, may or will, at our discretion send you such marketing, advertising and such information by way of postal mail and/or electronic transmission to your address(es). marketing, We may or will, our discretion disclose personal data about you to our third party service providers or Marketing third which Purpose party advertising may service for be sited us. and providers promotional or outside or agents information of Singapore, of us, through processing for the the above your above Marketing personal modes of data Purpose; communication) (including and you sending also for consent the you above such to 47. Should If Severability any you of these wish to Conditions opt out of or Clause any part 46.8, of them please is write deemed to invalid, us at unlawful or unenforceable any respect under 48. any applicable law, the validity, legality and enforceability of the remaining Conditions or any other part Unless shall unenforceable Contracts not expressly (Rights in Condition any provided of way Third or be to any Parties) affected the part contrary had Act but never (Chapter in these the been 53B Conditions part of of Singapore) Documents, these shall Conditions. be a person read as who if is such not a invalid, party to unlawful or of enforce Documents, any liability) or the shall enjoy consent have the or termination benefit no of rights any third of under of any the party term the Facility is of Contracts not the Documents. required Facility (Rights for Documents. of any Third variation Parties) Notwithstanding (including Act, Chapter any release term 53B of or the Singapore compromise Facility to You We and Governing Law it agree that these Conditions and all matters relating to the Facility are governed by the laws of Singapore or you submit to non-exclusive jurisdiction of the Courts in Singapore. delivered, are entitled to effect personal service you of any writ, summons other process or document by leaving have at the sufficient or Security sending or on notice it the Documents. by day of ordinary immediately such You process. post agree to following that your such Mailing the process date Address of is delivery, or deemed your address if validly sent specified by served post on and in you that the immediately, Facility you are deemed Documents if to so RBD-STC-July 2014 Company Reg No.: S36FC0753G 17