Form of Purchase Offer of a Property Addressed to the Bank of Cyprus Public Company Ltd [the «Bank»]

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1 Form of Purchase Offer of a Property Addressed to the Bank of Cyprus Public Company Ltd [the «Bank»] Date:.../.../... To: Bank of Cyprus Public Co Ltd Address: Kyrenia Avenue 97, Aglantzia, 2114 Nicosia, Cyprus Telephone: TENDER NUMBER: S DETAILS OF APPLICANT Name/Company Name Identity Card No. (for individuals)/ Company s Reg. No. (for legal entity) Telephone No. Residence Address/ Registered Office Fax No. DETAILS OF PROPERTY Property s Code Property s Description OFFER Amount ( ) Written in full 1

2 Form of Purchase Offer of a Property Addressed to the Bank of Cyprus Public Company Ltd [the «Bank»] GENERAL TERMS FOR THE SUBMISSION OF THE OFFER WITH TENDER NUMBER: S 1. This present form is completed only for immovable properties owned by the Bank of Cyprus Public Co Ltd and all subsidiary companies. 2. If the sale of the property is subject to VAT, the indicative purchase price shall include the VAT. In this case the percentage of the corresponding VAT as well as the relevant VAT amount should be written separately. 3. This present document for the submission of an offer must be completed in full and must be signed at all its pages. 4. In the event that the candidate is a legal entity, this present document must be signed by the entity s legal representative beneath the legal entity s name and the company s seal must also be affixed. The candidate s legalization documents must be submitted together with this present document. 5. The completed document (offer) must be arrived in a sealed envelope to the following address of the Bank the latest by 12:00 a.m. on 01/10/2015. Bank of Cyprus Public Company Ltd Tender Box Offer to buy the property with Reg. No. 0/66120 Building in Limassol Tender No S Expiry Date: 01/10/2015 Bank of Cyprus Public Co Ltd Kyrenia Avenue 97, Aglantzia 2114 Nicosia Cyprus The Bank shall not accept any offers if these arrived to any address other than the aforementioned address or by any other manner of correspondence and any such offers shall be considered as having not been made. 6. The Bank reserves its right to consider, accept or reject any offer received to the aforementioned address of the Bank irrespective of the amount of the offer or of the timeline by which the offer was submitted. 7. Irrespective of the date stated in this present document and of the date and time the offer has been sent, it will be considered that the date and time of the offer s receipt are the date and time that the said invitation for offers expires 2

3 01/10/2015 at 12:00 a.m. The Bank shall not be held liable towards any tenderer in the event that for any reason whatsoever the offer is not received or received with a delay by the Bank. 8. In the event that any of the offers is not accepted or in the event that the property is no longer available for sale, the Bank shall inform the tenderer accordingly, without however being obligated to mention the reasons of the rejection of any offer. 9. Acceptance of the offer by the Bank shall not in any case be binding for the Bank to ultimately proceed with the sale of the property without the prior signing of the sales agreement by the Bank. Until the signing of the sales agreement, the Bank may back out at no cost and without any liability for compensation or damages if the Bank considers that the property s sale is no longer profitable. 10. In the event of a sale of a property, t h e s a l e w i l l b e c o m p l e t e d u p o n s i g n i n g o f a sales agreement between the Bank and the tenderer whose offer was accepted, hereinafter called the Buyer. The following must be the minimum terms included in the sales agreement: i. Unless the total purchase price is paid upon signing of the sales agreement, the purchase price shall be paid as follows: 25% of the offered purchase price shall be paid by the Buyer upon signing of the sales agreement through a bankers draft or electronic transfer to the Bank. ii. The remaining 75% of the purchase price shall be paid by the Buyer within ninety (90) days from the date of the signing of the sales agreement. Any outstanding amount shall bare interest at the basic rate as decided by the Bank + 4% (margin) if not paid within the aforesaid ninety (90) days period until its full payment. Until full payment of the purchase price, the Bank shall retain the ownership and possession of the property. iii. The Buyer will be entitled to use the property only after full payment of the purchase price iv. The process for the stamping of the sales agreement shall be carried out by the Bank whilst the stamp duty shall be borne and paid exclusively by the Buyer, who will also pay the relevant Land Registry fees for the deposition of the sales agreement. v. The Buyer shall also pay the transfer fees and costs for the registration of the property into his name payable at the Land Registry Department. 3

4 vi. The Buyer will be obliged to pay the price on the date stated above and accept the transfer of the property to his name. If the Buyer refuses, neglects or omits to do so, the Bank reserves the right to terminate and cancel the sales agreement keeping the Buyer fully responsible and claim compensation and damages for any loss or damage suffered, deducting it from the price received or any part thereof, plus interest, costs and VAT. If the loss and damage suffered by the Bank is higher than the amount received, the Bank will be entitled to claim and receive it from the Buyer. The Buyer will also be obliged to withdraw the sales agreement from the Land Registry if deposited. vii. The Buyer declares that he has visited and inspected the property and found it to his full satisfaction physically and legally. The Buyer also declares that he purchases the property at its present state and condition irrespective of its description in the title deed, if any. 11. Where the sale of the property is subject to VAT, the Bank will issue an invoice of receipt to the Buyer corresponding to each one of the two (2) installments mentioned hereinabove and add the VAT corresponding to the amount of each installment. 12. Any offer by a registered licensed estate agent for the purchase of a property for himself or of a client of his buyer, in order to be accepted by the Bank for evaluation purposes only, must state the name, details of the buyer and a written declaration by the buyer duly certified that the estate agent represents and binds him and when it expires. In no event the Bank is bound towards the estate agent at the stage of evaluation. Therefore, the Bank does not accept any liability or obligation whatsoever for the payment of any commission, remuneration, compensation or costs to the estate agent. During the tender evaluation the net price (price excluding estate agent commission) will be considered. In the event the Bank accepts the offer by the estate agent and proceeds with an agreement with the buyer for the purchase of the property and a sales agreement is signed in this respect including the aforesaid minimum terms, the Bank undertakes to pay to the registered licensed estate agent an agreed commission after the completion of the sales agreement and the payment to the Bank of the sales price, as follows: (a) if the net proceeds of the sale after deduction of the agreed commission are over , the maximum percentage of the agreed commission which the Bank will be obliged to pay will be 2%, including VAT and (b) if the net proceeds of the sale after deduction of the agreed commission are under , the maximum percentage of the agreed commission which the Bank will be obliged to pay will be 3%, including VAT. The payment of the agreed commission to the estate agent will be made only after the Bank receives at least 75% of the sale price of the property. The offer by the estate agent must include acceptance of the aforesaid term otherwise it will not be accepted by the Bank. 4

5 The Bank under no circumstances accepts or undertakes any liability or obligation whatsoever to pay any commission, fee or costs to any estate agent for the sale of any property unless and provided the estate agent follows the aforesaid procedure required by the Bank, and fulfils all the aforesaid obligations and requirements of the Bank. By signing this form, I /we declare and acknowledge that I /we have read and fully understood the contents of this document and that I /we fully accept the above stated terms and conditions.. Tenderer.. Stamp. Signature Date: / /... 5

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