Permanent tsb p.l.c. (hereinafter called permanent tsb ) GENERAL MORTGAGE LOAN APPROVAL CONDITIONS DEFINITIONS In these Conditions unless the context

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1 Permanent tsb p.l.c. (hereinafter called permanent tsb ) GENERAL MORTGAGE LOAN APPROVAL CONDITIONS DEFINITIONS In se Conditions unless context orwise requires: Advance" means principal sum or sums specified in Letter of Approval advanced or to be advanced to Applicant out of funds of permanent tsb or, as case may require, principal amount reof from time to time outstanding. Agreement means agreement between permanent tsb and Applicant which arises out of acceptance of Letter of Approval by Applicant and which includes Applicant s application for Advance, Letter of Approval, se Conditions, Acceptance of Loan Offer and any applicable special conditions. Applicant means person or persons named as Applicant(s) in Letter of Approval and includes ir personal representatives, successors and permitted assigns. "Appropriate Rate" means rate or rates of interest per centum per annum for Advance as specified in Letter of Approval or such increased or reduced rate or rates of interest as may from time to time be payable on Advance and any Additional Advance under terms hereof. Where Appropriate Rate includes a differential "Basic Rate" means rate at which interest would be charged if no differential applied, and where more that one type of Advance is secured where context so requires it refers to Basic Rate for each type of Advance. Conditions means se general mortgage loan approval conditions "Directors" means directors for time being of permanent tsb. "Guarantor" includes each and every person who is required to guarantee, or who has guaranteed, repayment by Applicant of Advance. "Letter of Approval" means letter of approval from permanent tsb to Applicant which accompanies se Conditions as such letter may be amended, extended, supplemented or replaced from time to time. "Month" means a calendar month. "Monthly Repayment" means monthly instalments of principal and interest or, in respect of endowment loans and interest only loans, monthly instalments of interest payable by Applicant as specified in Letter of Approval in each case as varied or recalculated from time to time. Mortgage means mortgage over Property granted or to be granted by Applicant (or any of m) to permanent tsb and any reference to Mortgage includes all general and or terms and conditions which form part reof or are incorporated rein. Property means property specified in Letter of Approval as Mortgage Property and references to Property shall (unless context orwise requires) include references to any part or parts or whole reof and buildings now erected or in course of erection or hereafter to be erected reon. permanent tsb means permanent tsb p.l.c. and its successors and assigns Specified Day" means day of month on which Monthly Instalment is payable, and unless orwise

2 specified or varied by notice given by permanent tsb to Applicant is day on which Advance issued or last day of month where it exceeds number of days in that month. Where Specified Day falls on a non-business day, Monthly Instalment is payable on last business day prior to Specified Day. Total Debt means whole of moneys outstanding for time being on security of Mortgage including, without prejudice to generality of foregoing, Advance, all interest payable reon and all or monies now or hereafter due, owing or incurred by Applicant to permanent tsb in respect of or in connection with Advance. "Valuer" means valuer on whose valuation permanent tsb relies for purpose of making Advance. INTERPRETATION In se Conditions unless context orwise requires: masculine includes feminine and singular includes plural and vice versa; any reference to any enactment includes references to any statutory modification reof wher by way of amendment, addition, deletion or repeal and re-enactment with or without amendment; and any reference to a person" includes a corporation. These Conditions form part of and are supplemental to Letter of Approval including any special conditions contained rein. If re is any conflict between se Conditions and Letter of Approval, provisions of Letter of Approval shall prevail. SECURITY It is a condition of permanent tsb agreeing to advance Advance to Applicant that Advance, all interest reon and all or amounts owing by Applicant in respect of or in connection with Advance to permanent tsb are secured by a first legal mortgage over Property. 1. STANDARD CONDITIONS RELATING TO ALL LOAN APPROVALS 1.1 The title to Property being satisfactory to permanent tsb. 1.2 permanent tsb s right to withdraw or vary this approval at any time before completion of mortgage transaction. The Applicant may withdraw before completion of mortgage transaction. 1.3 The Applicant, unless orwise agreed, having vacant possession of entire Property 1.4 The Property, unless orwise agreed, be used for owner occupation only WARNING YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT. The Applicant will secure Advance and all interest and or monies owing in respect of or in connection with it by a mortgage on Property, which shall be a first mortgage unless all prior mortgages are in favour of permanent tsb. The Property will be at risk not just for amount of Advance, but for all sums due by Applicant at any time in future wher alone or jointly with any or person and wher as principal or surety to permanent tsb, which Applicant agrees in writing are to be secured by Mortgage. If Applicant has any doubt about effect of Mortgage in this regard, he should ensure that his solicitor fully explains Mortgage to him. 1.6 The Applicant will promptly pay all monthly or or periodic repayments and or sums due under provisions of se Conditions. Interest will be debited to account monthly or at such or periodic rests as permanent tsb in its absolute discretion decides. The Applicant will complete a direct debit mandate in favour of permanent tsb or standing order originating in a permanent tsb account.

3 1.7 The Applicant must personally within 21 days indicate in writing his willingness to accept offer of Advance and draw down of Advance must be completed within 40 days of his acceptance. Failure to comply with foregoing or rejection of Property for such insurance as permanent tsb may require at standard rate without any special conditions cancels this approval Conditions relating to property insurance Unless and until instructed in writing to contrary permanent tsb is authorised to effect insurance against such risks as permanent tsb may from time to time require on Property (excluding contents) in joint names of permanent tsb and Applicant through its agency for such amount as permanent tsb may from time to time decide and to arrange such insurance from date of completion of Advance and in cases where permanent tsb effects such insurance Applicant shall not effect any similar insurance on Property but shall in such cases be entitled to require that such insurance be arranged before completion of Advance and for an amount which exceeds sum determined by permanent tsb. The Applicant agrees not to hold permanent tsb responsible for adequacy of insurance arranged in this matter. Where permanent tsb arranges insurance cover for a Property under construction or renovation it will be for fire cover only for amount as indicated on policy schedule If Applicant wishes to effect insurance cover specified in Letter of Approval orwise than as specified in Condition hereof, Applicant shall notify permanent tsb within 21 days in writing reof, and on receipt of said notification permanent tsb shall specify in writing its detailed insurance requirements to Applicant The Advance may not be drawn down until permanent tsb s insurance requirements have been complied with to permanent tsb s satisfaction permanent tsb shall be under no obligation to see to adequacy of cover afforded by any insurance policy permanent tsb may without being obliged to do so at expense of Applicant pay insurance premiums as y become due but neverless permanent tsb shall not under any circumstances be responsible for any omissions or refusal to keep in force or renew policy nor for any loss or expense which Applicant may suffer by reason of any such omissions Insurance premiums paid by permanent tsb on behalf of Applicant (wher for Insurance effected under or orwise) shall be immediately repayable to permanent tsb by Applicant and until repaid shall form part of monies secured by Mortgage permanent tsb shall not be required to account to Applicant for any commission received on any insurance effected through permanent tsb's agency The insurance required may be effected or maintained by Applicant with any insurer and through any agency or any intermediary PROVIDED ALWAYS that if Applicant so elects he shall: (a) duly and punctually pay all premiums and or moneys necessary for effecting and keeping up such insurance when same shall become due;

4 (b) lodge with permanent tsb policy of such insurance if requested; (c) produce receipt for every or any premium or payment in respect reof; (d) if at any time permanent tsb shall not require that such insurance be effected in joint names of Applicant and permanent tsb, procure that interest of permanent tsb be noted on such policy of insurance; and (e) comply with any procedures adopted by permanent tsb from time to time which it considers necessary to ensure that its security is adequately protected by insurance If Applicant shall at any time fail to effect and keep, or produce evidence that he has effected or kept up such insurance permanent tsb may (but without being obliged to do so) insure The Applicant shall not except at request or with consent of permanent tsb effect or maintain any insurance in respect of Property where permanent tsb effects and maintains such insurance permanent tsb shall have full power to settle and adjust with insurers all questions with respect to amount of moneys payable under policy and with respect to liability of insurers All moneys under any policy of insurance of property shall be paid to permanent tsb and receipt of permanent tsb alone shall be a good and sufficient discharge refor, and Applicant where he effects insurance shall bring this provision to notice of insurers Any moneys received on any insurance of Property wher effected by permanent tsb or Applicant shall be applied at option of permanent tsb eir in or toward making good loss or damage in respect of which moneys are received or in or towards payment of Total Debt. The Applicant shall hold any moneys received by him upon trust for permanent tsb subject to proviso for redemption hereinbefore contained. 1.9 The Valuer s Report is required by permanent tsb solely for its own use and is not intended to be a structural survey of premises. Consequently granting of Advance gives no assurance or guarantee by permanent tsb of a soundly constructed house free from defects, structural or orwise. permanent tsb recommends that Applicant should arrange for a structural survey to be carried out, if required Whenever Directors in ir absolute discretion consider it desirable interest rate payable on Advance may be varied Interest will be charged on Advance from date of advance cheque or date of issue of Advance where made by or means permanent tsb is not bound to complete Advance by any particular date The Applicant is of full age within meaning of Age of Majority Act 1985 and has full contractual capacity permanent tsb has authority to maintain mortgage details for its own purposes after as well as before redemption and for such or purposes in accordance with provisions of Agreement and Mortgage 1.15 permanent tsb may at any time transfer benefit of Agreement and Mortgage to any person in accordance with Mortgage 1.16 Conditions relating to Applicant s Spouse/civil partner

5 Where a joint Applicant is a Spouse or civil partner of one or or joint applicants, Mortgage Deed shall be deemed to have been executed by spouse/civil partner for purposes of signifying his or her prior consent to Mortgage for purposes of Family Home Protection Act, 1976 (as amended) or Civil Partnership and Certain Rights and Obligations of Cohabitants Act, 2010 respectively Conditions relating to Life assurance The Applicant must obtain adequate life assurance or mortgage protection for an amount equal to or greater than amount and term of Advance. Where such life assurance or mortgage protection is to be effected by permanent tsb through its agency on life of Applicant (and Guarantor where applicable) at ir request, mortgage protection or Life Assurance Application Form must be completed by Applicant (and Guarantor where applicable) and returned, toger with relevant birth certificate to permanent tsb and monthly premium will be added to Monthly Instalment shown on Letter of Approval. The Applicant shall be under sole and exclusive obligation to maintain such life assurance or mortgage protection in force during term of Advance and shall be under sole and exclusive obligation to comply with terms of such mortgage protection or life assurance. If an Applicant should make default in payment of Monthly Instalments shown on Letter of Approval to permanent tsb, permanent tsb shall be under no obligation to pay monthly premium due in respect of mortgage protection or life assurance or to take any steps to maintain same in force, but without prejudice to foregoing, permanent tsb may at its sole and absolute discretion pay said premiums and Applicant shall be liable to repay same to permanent tsb. permanent tsb shall be under no obligation to inform Applicant of lapse or suspension of such life assurance or mortgage protection which results from non-payment of premium or any or breach of terms of such mortgage protection or life assurance. conditions. conditions. In event that consent of applicant s spouse or civil partner is required to Mortgage for purpose of satisfying provisions of Family Home Protection Act, 1976 or Civil Partnership and Certain Rights and Obligations of Cohabitants Act, 2010 respectively, it is hereby recommended that consenting Spouse/civil partner should not execute required formal consent without obtaining prior independent legal advice. In event of Applicant s Default, Property could be sold Where life assurance or mortgage protection is not effected by permanent tsb through its agency, permanent tsb will require production of evidence of life assurance or mortgage protection for an amount equal to or greater than amount and term of Advance and which evidence must be produced prior

6 to draw-down of Advance. The life assurance or mortgage protection must not be assigned to any person or company eir at time of draw-down of Advance or at any time during term of Advance. The Applicant shall be under sole and exclusive obligation to maintain such life assurance or mortgage protection in force during term of Advance and to ensure that all premium payments are made in respect of such life assurance or mortgage protection and permanent tsb will have no liability whatsoever where such life assurance or mortgage protection lapses owing to Applicant s failure to make such payments of premium or orwise and permanent tsb shall be under no obligation to inform Applicant of lapse or suspension of any life assurance or mortgage protection which results from non-payment of premium or any or breach of terms of such mortgage protection or life assurance. WARNING - Mortgage protection for amount of loan will not discharge on your death, any arrears of interest and late charges or any redemption fees payable under Condition 5 for early payment of fixed rate loans The Applicant must have all necessary wayleaves and rights of way for upkeep and maintenance of water supply and/or septic tank, if same are situated outside boundaries of Property The title must be Freehold or Leasehold with an unexpired term of at least 70 years or that lease is a building or proprietary lease All necessary Planning Permission and Bye Law Approval for Property and extension/conversion (if any) was obtained, and if building commenced after 1st June 1992, that same was constructed in conformity with Building Regulations Conditions relating to Endowment Loans WARNING THERE IS NO GUARANTEE THAT THE PROCEEDS OF THE INSURANCE POLICY WILL BE SUFFICIENT TO REPAY THE LOAN IN FULL WHEN IT BECOMES DUE FOR REPAYMENT. The early surrender of Insurance Policy in respect of your Endowment Loan may result in a return to you which would be less than you have paid in premia and or charges The Applicant obtaining an acceptable mortgage endowment policy, for amount and term of Advance and assigning it to permanent tsb as collateral security. permanent tsb shall be under no obligation to inform Applicant of lapse or suspension of such insurance policy which results from non-payment of premium or any or breach of terms of such insurance policy Conditions relating to a Guarantor A Guarantor and each and every Guarantor will be liable for observance and performance of all covenants obligations and liabilities of Applicant under or pursuant to Agreement Postponement of an interest in Property Where a person postpones his interest in Property in favour of permanent tsb, he may lose interest in event of default by Applicant. It is recommended that he obtains independent legal advice before doing so Where permanent tsb is making furr advances any mortgage, charge or or encumbrance on

7 Property or than a mortgage or charge in favour of permanent tsb must be discharged, or with permanent tsb s consent, postponed in favour of permanent tsb s security over Property. 2. CONDITIONS RELATING TO NEW HOUSES AND PROPERTY UNDER CONSTRUCTION 2.1 The building contract and/or contract for sale shall include or be amended to include following clause: The Contractor/Vendor covenants to repair all structural defects which shall appear within eighteen months from date upon which Employer/Purchaser obtains possession of premises and this covenant is binding notwithstanding anything to contrary in within contract. It is hereby furr acknowledged and agreed that nothing in within contract, in HomeBond Scheme or any or structural defects insurance bond or policy, shall deprive Employer/Purchaser of his common law rights which are hereby guaranteed. This Clause does not require amendment of standard building agreement issued by Law Society and referred to immediately below where Property is registered with Home Bond or where Property is covered under a structural defects insurance bond or policy acceptable to permanent tsb. The building contract referred to herein shall be current standard Building Agreement issued jointly by Law Society and Construction Industry Federation, which form of agreement shall not be materially varied (by deletion and/or addition) to detriment of Employer. 2.2 The Property, including roads, footpaths, services, site works, boundaries and decoration is completed to permanent tsb s satisfaction before issue of advance cheque. 2.3 Satisfactory security must be deposited with Planning Authority for completion of estate, roads, footpaths, and services and evidence of same placed with title deeds. 2.4 Property registered under HomeBond or orwise covered under a structural defects insurance bond or policy acceptable to permanent tsb. Where Property is registered under HomeBond or orwise covered under a structural defects insurance bond or policy which is acceptable to permanent tsb, a final notice HB11 or relevant confirmation of cover under such structural defects insurance bond or policy must be available on completion of premises. Orwise condition 2.5 applies. 2.5 Property not registered under HomeBond or not covered under a structural defects insurance bond or policy acceptable to permanent tsb. Where Property is not registered under HomeBond or not covered under a structural defects indemnity bond or policy acceptable to permanent tsb, construction must be supervised by a qualified Architect/Engineer/Chartered Building Surveyor who must, on completion, give a certificate of compliance with Planning Permission and Building Regulations and also certify following: (a) that he supervised opening and laying of foundations and that y are suitable for Property and ground conditions; (b) that he supervised construction of Property through all stages; (c) that Property has been completed in accordance with good building practice; and (d) that re is no furr work outstanding.

8 2.6 Stage payments Subject to legal and any or requirements of this approval having been complied with in full, Applicant may draw down Advance in stages as set out in Letter of Approval On completion of each stage a stage payment request or stage payment certificate will be required. 3. CONDITIONS RELATING TO FLATS AND APARTMENTS 3.1 General Condition 1.8 is amended to read as follows: The sum insured on building is adequate and incorporates index linking and professional fees The Insurance is householders comprehensive and includes clauses covering mortgages, reinstatement, public authorities and debris removal The insurers undertake not to lapse, cancel, alter terms of policy or fail to renew insurance without giving permanent tsb one month s notice in writing. 4. CONDITIONS RELATING TO RIGHTS OF RESIDENCE Where Applicant comprises more than one person, any of those persons who is not owner of Property but who is entitled to a right of residence in Property must sign a Deed of Confirmation postponing such right in favour of permanent tsb or if it is an exclusive right of residence, releasing such right of residence prior to completing Mortgage. The requirement to sign a Deed of Confirmation also applies to any person who is not comprised in Applicant who has a right of residence or any or beneficial estate or interest in Property. 5. CONDITIONS RELATING TO FIXED RATE LOANS 5.1 If it is stated in Letter of Approval that Advance is to be subject to a fixed rate interest rate applicable to Advance shall be fixed from date of Advance for period (a Fixed Rate Period ) as specified on Letter of Approval. 5.2 The interest rate specified in Letter of Approval may vary before date of drawdown of Advance. 5.3 Whenever (i) repayment of a loan in full or in part is made, or (ii) with agreement of permanent tsb, loan is switched to a variable rate loan, or or fixed rate loan, before expiry of Fixed Rate Period (hereinafter called Early Termination ), Applicant shall, in addition to all or sums payable as a condition of and at time of Early Termination, pay a sum equal to permanent tsb s estimate of loss (if any) arising from Early Termination. In calculation of said loss permanent tsb shall endeavour to apply, in so far as it is fair and practicable, formula C=(I-S) x R x (M-T) where C is charge to compensate for loss(if greater than 0), I is swap/market fixed interest rate for term of Fixed Rate Period at date of its commencement, S is swap/market interest rate for remaining fixed period, R is amount of Fixed Rate loan balance paid or switched at date of Early Termination, M is Fixed Rate Period and T is time expired of Fixed Rate Period at date of Early Termination. 5.4 permanent tsb and Applicant shall each have option at end of each Fixed Rate Period to convert to a variable rate loan agreement which will carry no such redemption fee.

9 6. Provisions for payment 6.1 By accepting Letter of Approval Applicant will and hereby covenants to (consistently with se conditions and without making any deductions) repay to permanent tsb with interest whole of Advance and all furr Advances on Security of Mortgage and all such or sums as by provisions applicable to Mortgage shall from time to time become due from Applicant to permanent tsb. 6.2 These Conditions are intended to provide for repayment of capital and payment of interest primarily by combined payments at monthly intervals save where permanent tsb has stipulated that repayments in respect of all or part of Advance may be made at intervals or than monthly intervals. 6.3 The Applicant will discharge his primary obligations under Clauses 6.1 and 6.2 by making to permanent tsb on Specified Day in every month Monthly Repayment, first repayment to be made on day notified to him by permanent tsb, or in default of notification Specified Day of month next following making of relevant Advance. 6.4 The Applicant will and hereby covenants to duly and punctually pay any or sums of money fines commissions charges fees or costs and expenses which become due to permanent tsb by Applicant by reason of provision hereof or Letter of Approval as and when same shall respectively become payable by Applicant. 6.5 The Applicant will and hereby covenants to pay to permanent tsb and discharge on demand (or on such terms as may orwise be agreed in writing) general indebtedness and liability. 6.6 permanent tsb may extend term or suspend any increase or decrease of Applicant's obligations to pay Monthly Repayments or part or parts reof for such period as permanent tsb may think fit. 6.7 The Monthly Repayment may be varied at any time and from time to time by written notice to Applicant from permanent tsb so as to take account of: (a) any variation in Appropriate Rate; (b) any variation in method of calculation of interest; (c) furr moneys advanced to Applicant; (d) arrangements made with Applicant whereby payment in respect of any insurance undertaken by permanent tsb are to be met by Applicant; (e) change in rate or incidence of taxation; (f) any policy of life assurance or mortgage protection taken out in conjunction with Advance being allowed to lapse or premium for keeping same in force or accumulating its value falling into arrears; (g) any policy of life assurance or mortgage protection taken out in conjunction with Advance being or becoming inadequate or in opinion of permanent tsb would be inadequate or being subject to fluctuation could become inadequate to repay Advance or a required part of it; (h) any variation in repayment period, suspension of payments or capitalisation of arrears; (i) partial redemptions; (j) any or matters which Directors consider appropriate.

10 6.8 If permanent tsb makes a concession to Applicant by allowing suspension or postponement of any payments, n in event of subsequent default by Applicant in payment of interest or orwise, concession will cease to operate and become void and Applicant shall on request be obliged to fulfil his obligations and permanent tsb shall have such rights under Mortgage as if concession had not been made. 6.9 The Applicant shall (unless orwise requested by permanent tsb) arrange to make Monthly Repayments or or periodic instalments by direct debit with a Bank or permanent tsb or by standing order drawn on a permanent tsb account. Where re are insufficient funds in account mandated under direct debit or standing order, to meet any such direct debit or standing order, Applicant will be charged a reversal fee in accordance with n current scale of fees of permanent tsb If on realisation of its security by permanent tsb net proceeds are insufficient to discharge Total Debt Applicant will immediately pay amount of deficiency with interest until payment If on sale of Property by Applicant with consent of permanent tsb net proceeds are insufficient to discharge Total Debt Applicant will immediately pay amount of deficiency with interest until fully discharged, and vacating of security by receipt reconveyance discharge or orwise to enable sale to proceed or complete shall not adversely affect or prejudice right of permanent tsb to recover deficiency or obligation of Applicant to pay same with interest The Total Debt shall become immediately payable to permanent tsb: if Applicant defaults in making of two Monthly Repayments or for two months in payment of any or moneys payable under Mortgage; or if Applicant fails to perform or observe any of covenants contained or implied in Mortgage or any of terms or conditions in Letter of Approval or se Conditions; or if Applicant (being an individual) enters into any composition or arrangement with or for benefit of his creditors generally or has a bankruptcy order made against him or left Ireland in debt or (being a company) has an order made or resolution passed for winding up (orwise than for purposes of amalgamation or reconstruction upon terms previously approved in writing by permanent tsb) or has an administration order made in respect of its affairs business and property or has a receiver appointed in respect of whole or any part of its undertaking or has been subject of a petition to appoint an examiner; or if an encumbrancer or or similar party takes possession of Property; or if Property is compulsorily purchased or requisitioned; or if a building on Property is pulled down removed or damaged so as materially to depreciate value of security; or if Applicant yields up possession of Property to permanent tsb; or if any of representations made by Applicant to permanent tsb prove to be materially untrue; or if any Enforcement Event specified in Mortgage occurs.

11 7. Interest 7.1 Interest will be charged by permanent tsb at Appropriate Rate after as well as before any judgment. 7.2 The Appropriate Rate may include one or more differentials. 7.3 Unless orwise provided interest payable under or in accordance with provisions herein shall be computed according to n current practice of permanent tsb and may be compounded after as well as before any judgment at monthly or such periodic rests as permanent tsb shall in its absolute discretion decide from time to time. 7.4 Interest may be calculated and accumulated to six places of decimals. 7.5 Until orwise varied by notice by permanent tsb, interest will accrue and be calculated on basis of actual number of days elapsed on a 365 day year or a 366 day year in a leap year. 7.6 Interest shall accrue from day to day and may, at discretion of permanent tsb, be payable in advance. 7.7 The Applicant shall pay permanent tsb interest at Appropriate Rate for any periods that may elapse between due date and date of payment of any Monthly Repayment, instalment of interest, fine, insurance premiums, fees, costs and expenses or or sums due by Applicant. 7.8 The allowance from time to time of periods of grace, calculation of interest on arrears to a lesser amount, or setting of a balance threshold for incurrance of interest on arrears shall not affect permanent tsb s right to charge interest on arrears. 7.9 Any Monthly instalment or or payment made by Applicant may be allocated by permanent tsb towards late payment charges, fines, interest, insurance premiums and or moneys due or deemed to be due in accordance with its current practice or used to reduce an aggregated balance without specific allocation. In case of repayment mortgages portion of Monthly Instalments are allocated to repayment of principal and permanent tsb may in its absolute discretion vary such allocations. Prepayment or early payment of Monthly Instalments shall not be refundable to Applicant Any variation in method of computing interest shall take effect from date on which notice of such variation is given. Such notice shall be deemed to have been well and sufficiently given to Applicant eir: (i) by publication of an advertisement in a national daily newspaper stating variation in method of computing interest, or fact of a variation and that details may be obtained from any branch office, and date on which same is to become effective; or (ii) by being served on Applicant in writing permanent tsb may from time to time increase or reduce Appropriate Rate (and may do so where Appropriate Rate includes a differential by increasing or reducing eir or both of relevant Basic Rate and differential). Upon any reduction in Appropriate Rate, permanent tsb reserves right not to permit a reduction in Monthly Repayment An increase or reduction in Appropriate Rate shall not come into force unless or until notice of increase or reduction has been eir: served on Applicant in writing; or

12 advertised in a national newspaper, provided always that advertisement need only specify fact of an increase or reduction, date on which it becomes effective and that details may be obtained from any branch office of permanent tsb. The notice to vary Monthly Repayment shall contain particulars of n current Appropriate Rate and date from which Monthly Repayment becomes effective A certificate signed by an officer of permanent tsb as to method of calculation of interest and Appropriate Rate from time to time during duration of Advance shall be conclusive evidence as against Applicant of method of calculation and Appropriate Rate from time to time. IF THE LOAN IS A VARIABLE RATE LOAN THE FOLLOWING APPLIES: THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME. 8. VALUATION FEES A valuation report fee must be paid. The maximum valuation report fee is which includes VAT but excludes Valuer s travel expenses. The Valuer s travel expenses are calculated as follows: 1-10 miles = Nil miles = miles = 8.00 Properties incomplete at time of original valuation will require, on completion, a valuation, fee for which is which includes VAT but excludes travel expenses. In certain circumstances however, an opinion of value ( drive by valuation) may be acceptable to Bank, fee for which is which includes VAT but excludes travel expenses. The valuation fee is refunded if application is not accepted. 9. INDEMNITY BONDS Where loan exceeds 80% of purchase price/valuation on Residential Investment Properties, an indemnity Bond on amount over 80% of purchase price/valuation may be required and premia rate will be charged at 4.00% on amount over 80% of purchase price/valuation. 10. CONDITIONS RELATING TO EURIBOR LOANS 10.1 If Advance is subject to a rate of interest which is expressed to be linked to EURIBOR rate of interest applicable to Advance shall be calculated in accordance with following provisions The interest rate will be calculated and determined on days known as Specified Calculation Days at intervals known as Calculation Intervals The first Specified Calculation Day shall be date of issue of Advance For one month Euribor Loans Calculation intervals will be one calender month. The Specified Calculation Day will fall on last day of a month where it exceeds number of days in that month For three month Euribor loans, Calculation Intervals will be three calender months. The Specified Calculation Day will fall on last day of a month where it exceeds number of days in that month The rate of interest applicable on and from a Specified Calculation Day shall be calculated as aggregate of: The rate per centum at which deposits in EURO are offered for Calculation Interval to permanent tsb in Euro Interbank Offered Rate ( Euribor ) in fore-noon of day which is

13 two business days prior to Specified Calculation Day, or if no rate is available on that day next earliest day on which a rate is available; The Margin set out in Letter of Approval expressed as an annual rate of interest; and The cost known as RAC, if any, expressed as an annual rate of interest calculated by permanent tsb, of maintaining any reserve asset or official liquidity or any regulatory requirement of Central Bank of Ireland, European Central Bank, or or competent regulatory authority in providing and/or maintaining Advance permanent tsb shall not be required to give notice to Applicant of any variation in rates of interest or Monthly Repayments, due to calculation of interest rate on Specified Calculations Days Prior to drawdown of loan Applicant is required to complete a variable direct debit mandate to authorise permanent tsb to collect Monthly Instalments due on mortgage loan and any insurance or assurance instalments which have been arranged or will be arranged by permanent tsb at request of Applicant A Certificate signed by Officer of permanent tsb as to relevant Euribor rate of interest and RAC for Specified Calculation Days shall be conclusive evidence against Applicant The interest rate indicated in Letter of Approval and any calculation emanating refrom are based on a Euribor rate of interest obtained prior to issue of Letter of Approval and may change for First Specified Calculation day When Advance is made in stages permanent tsb may at its discretion, at any time during period of loan, calculate a separate rate of interest in respect of each stage, apply rate calculated for an earlier stage or treat stages as having same specified calculation date In event that permanent tsb offers Euribor loans with Calculation Intervals or than one month or three months se conditions shall apply by substituting new interval for interval of three months in se conditions Nothing herein shall affect right of permanent tsb to vary interest rate in accordance with se Conditions permanent tsb reserve right to vary Specified Calculation Days and Calculation Intervals by notice in writing to Applicant or by advertisement in a national newspaper. 11. CONDITIONS RELATING TO ONE PLAN EQUITY RELEASE LOANS 11.1 One Plan Equity Release Loans can be used for any purpose or than a business or commercial purpose The Applicant may prior to approval request that all or part of a One Plan Equity Release Loan be transferred to a holding account ( Holding Account ) in name of and to credit of Applicant on drawdown Where Letter of Approval provides that all or part of loan will be transferred to a Holding Account, monies will be so transferred on date of draw down subject to production by Applicant of a Solicitor s confirmation that relevant mortgage or charge has been executed by Applicant

14 ( Confirmation of Closing of Loan ). Prior to execution of relevant mortgage or charge any interest right or title of Applicant in Holding Account or monies deposited rein shall be held in trust for permanent tsb. The Applicant will have no access to monies in Holding Account until Confirmation of Closing of Loan is furnished to permanent tsb. Pending production of Confirmation of Closing of Loan, permanent tsb has right to set off or transfer part or entire of sums standing to credit of Applicant in Holding Account in or towards satisfaction of any monies due by Applicant to permanent tsb For purpose of calculation of interest, daily balance of One Plan Equity Release Loan shall be reduced by n credit balance (if any) in Holding Account. The credit balance in Holding Account shall be reduced by amount of withdrawals on date of withdrawal irrespective of when withdrawal cheque is cashed. No interest will be payable to Applicant on balance held in Holding Account No lodgements are permitted to Holding Account, save initial lodgement The Applicant may make withdrawals from Holding Account, in such manner as permanent tsb may, in its absolute discretion, permit or appoint from time to time Amounts withdrawn must not be less than 3,000 ( Minimum Amount ) provided however that permanent tsb may alter Minimum Amount as it sees it One Plan Equity Release Loans will be repaid or amortised as follows: a) those sums advanced and not transferred to a Holding Account, by monthly or or periodic repayments as agreed with permanent tsb, over term of loan in accordance with clause 6.2 of se Conditions; b) those sums withdrawn from Holding Account, by monthly repayments or or or periodic repayments agreed with permanent tsb over remainder of term of loan from date of withdrawal in accordance with clause 6.2 of se Conditions; c) those sums transferred to Holding Account, by equal annual repayments (calculated, at outset, without reference to withdrawals) over term of loan or as set out in Letter of Approval, or as determined from time to time by permanent tsb, and made by deduction from Holding Account subject to proviso that amounts to be so repaid out of Holding Account will be reduced by amount of withdrawals. The Applicant hereby irrevocably authorises permanent tsb to debit Holding Account for purposes of making such repayments In addition to any general lien, right of set off or similar right to which permanent tsb may be entitled by law, permanent tsb reserves right, without prior notice, to set off or transfer all or part of any sum or sums standing to credit of Applicant in Holding Account in or towards satisfaction of any repayment due under mortgage or any or mortgage entered into by Applicant with permanent tsb. In any

15 circumstance where Total Debt becomes immediately payable to permanent tsb, permanent tsb reserves right, without prior notice, to set off or transfer all or part of any sum or sums standing to credit of Applicant in Holding Account in or towards satisfaction of Total Debt Where mortgage is in joint names, all Applicants named on Holding Account hereby authorise any one of m to effect withdrawals on Holding Account on his/her sole authority and all withdrawals and all acts done in relation to Holding Account shall be deemed to be withdrawals and acts of all Applicants and any liabilities incurred howsoever arising from such withdrawals or acts shall be joint and several liabilities of all Applicants provided always that nothing will prevent permanent tsb from placing a hold or a freeze on Holding Account in event of a dispute between Applicants or in such circumstances as are deemed prudent by permanent tsb No overdrafts, direct debits or standing orders will be permitted in respect of Holding Account. The Holding Account may not be assigned, pledged, charged or a lien created in respect reof in favour of any third party Where permanent tsb allow Applicant to make withdrawals from Holding Account by means of specified cheques issued to Applicant, following conditions will apply: It shall be open to permanent tsb at all times, without notice, to refuse to meet any cheque if, at any time, when such payment should be made, amount in Holding Account is insufficient to meet such payment. The Applicant irrevocably consents to publication of any statement and/or innuendoes and/or communications made by permanent tsb which may be construed as suggesting that Applicant had insufficient funds to meet any cheque drawn on Holding Account permanent tsb shall not be liable to Applicant for failure by permanent tsb to honour any cheque drawn on Holding Account where such failure arises due to force majeure, malfunctions of any equipment or by accidental omission or to any circumstances beyond control of permanent tsb (including industrial action, strike and lockouts) All unused cheques must be returned by Applicant to permanent tsb: (a) on redemption of loan; (b) in circumstances in which clause 11.9 applies; and (c) in any or circumstances as permanent tsb deems fit No cheque card, ATM or debit card will issue in respect of operation of Holding Account The life assurance required under condition 1.17 must be sufficient to cover debt outstanding on One Plan Equity Release Loan at any one time and must include all or part of Advance transferred to Holding Account For purpose of redeeming Advance, Applicant authorises permanent tsb to transfer amount in Holding Account in or toward reduction of amount of loan outstanding and to close Holding Account These conditions are issued with regard to current Irish Law but may be subject to change in accordance with law.

16 11.17 permanent tsb reserves right to alter se conditions on first giving reasonable notice to Applicant. 12 CONDITIONS APPLICABLE TO ADDITIONAL LOANS 12.1 The terms and conditions contained in this clause 12 apply to any loan that is an additional loan. A loan is an additional loan where Applicant has previously executed a mortgage ( Existing Mortgage ) over a property in favour of permanent tsb (or any of its predecessors including Irish Permanent Building Society, Irish Permanent plc, TSB Bank and Irish Life & Permanent plc) and it is intended that Existing Mortgage will secure that loan Where Existing Mortgage is a permanent tsb all sums due form of Mortgage which was executed prior to 1 December 2009 but which was granted to secure a loan approved after 4th June 2002, n terms and conditions contained in Mortgage Conditions Booklet which is incorporated in Existing Mortgage will apply to additional loan without modification Where Existing Mortgage is an Irish Permanent all sums due form of Mortgage which was granted to secure a loan approved prior to 4th June 2002, terms and conditions contained in Mortgage Conditions Booklet which is incorporated in Existing Mortgage will apply to additional loan but with following modifications: unless orwise varied by notice by permanent tsb, interest will accrue and be calculated on basis of actual number of days elapsed on a 365 day year or a 366 day year in a leap year Specified Day shall be day of month on which Monthly Instalment is payable and unless specified or varied by notice given by permanent tsb to Applicant, is day on which Advance issued or last day of month where it exceeds number of days in that month. Where Specified Day falls on a non business day, Monthly Instalment is payable on last business day prior to Specified Day Where additional loan is made to joint Applicants, ir liability to repay additional loan will be joint and several. Where existing loan secured by Existing Mortgage is a One Plan Equity Release Loan approved prior to 4th June 2002 n paragraph Where existing Loan Secured by Existing Mortgage is a OnePlan Equity Release Loan approved prior to 4th June 2002 n paragraph above already applies and accordingly only applicable modifications are those paragraphs and above 12.4 Where Existing Mortgage is a TSB bank form of Mortgage, n following additional terms and conditions will apply to additional loan: Where re is more than one Applicant obligations of Applicants in respect of additional loan shall be joint and several and act or default of any one Applicant shall be deemed to be act or default of all of Applicants. permanent tsb may release or grant time or indulgence to any Applicant without affecting its rights against or Applicant(s) Where additional loan is a variable rate loan, rate of interest will be applicable variable rate detailed on Letter of Approval and as varied from time to time at absolute discretion of permanent tsb and Applicant(s) will repay additional loan with interest at such a rate by

17 monthly or or periodic instalments at intervals specified in Letter of Approval (or, if no such interval is specified, monthly) in amounts which, over term of additional loan, will be sufficient to discharge in full additional loan toger with such interest. The Applicant will commence payment for first instalment at end of first such period Where interest rate is fixed for period as specified in Letter of Approval Condition 5 above will apply Unless orwise varied by notice by permanent tsb, interest will accrue from day to day and be calculated on basis of actual number of days elapsed in a 365 day or a 366 day year in a leap year. Interest will be charged by permanent tsb at appropriate rate after as well as before any judgement or demand. The appropriate rate may include one or more differentials Unless orwise provided, interest payable under or in accordance with provisions herein shall be computed according to current practice of permanent tsb and may be compounded after as well as before any judgement or demand at monthly or such or periodic rests as permanent tsb shall in its absolute discretion decide from time to time Interest may be calculated and accumulated to 6 places of decimals The Applicant may not assign or orwise transfer any of Applicant s rights or obligations in respect of additional loan or security refor The Applicant shall pay permanent tsb interest at appropriate rate for any periods that may elapse between due date and date of payment of a monthly repay ment, instalment of interest, fine, insurance premiums, fees, costs and expenses or or sums due by Applicant. Where a monthly or or periodic instalment is not paid when due, unpaid interest will be capitalised and interest will be paid on interest The allowance from time to time of periods of grace, calculation of rate of late charge or commission or interest on arrears to a lesser amount or setting of a balance threshold for insurance of same shall not affect permanent tsb s right to charge same Any Monthly Instalment or or payment made by Applicant may be allocated by permanent tsb towards late payment charges, fines, interest, insurance premiums and or monies due or deemed to be due in accordance with its current practices or used to reduce an aggregated balance without specific allocation. In case of repayment mortgages a portion of monthly instalments are allocated to repayment of principal and permanent tsb may in its absolute discretion vary such allocations. Pre-payment or early payment of Monthly Instalments shall not be refundable to Applicant Any variation in method of computing interest shall take effect from date on which notice of such variation is given. Such notice shall be deemed to have been well and sufficiently given to Applicant eir: (a) by publication of an advertisement in a national daily newspaper stating variation in method of computing interest, or fact of variation and that details may be obtained from any branch office and date on which same is to be effective, or (b) by being served on Applicant in writing.

18 permanent tsb may from time to time increase or reduce interest rate (and may do so where interest rate includes a differential by increasing or reducing eir or both of relevant Basic Rate and differential). Where interest rate includes differential, Basic Rate means rate at which interest would be charged if no differential applied and where more than one type of advance is secured where context so requires it refers to Basic Rate for each type of advance A reduction in interest rate may be made so as to take effect from such date as permanent tsb may determine but permanent tsb reserve right not to permit a reduction in monthly repayment An increase or reduction in appropriate rate shall not come into force unless or until notice of increase has been: (a) served on Applicant in writing, or (b) advertised in a national newspaper, provided always that advertisement need only specify fact of an increase or reduction, date on which it becomes effective and that details may be obtained from any branch office of permanent tsb. The notice to vary monthly or or periodic payment shall contain particulars of n current interest rate and date from which it became effective The additional loan toger with interest reon and all or monies outstanding in respect reof shall become immediately payable to permanent tsb: (a) if Applicant defaults in making of two monthly repayments or for two months in payment of any or monies payable under additional loan, or (b) If Applicant fails to perform or observe any of covenants contained or implied in Mortgage or any of terms and conditions in Letter of Approval, or (c) If Applicant (being an individual) enters into any composition or arrangement with or for benefit of Applicant s creditors generally or has a bankruptcy order made against Applicant or has left Ireland in debt or (being a company) has an order made or a resolution passed for winding up (orwise than for purposes of an amalgamation or reconstruction upon terms previously approved in writing by permanent tsb) or has an administration order made in respect of its affairs, business and property or has a receiver appointed in respect of whole or any part of its undertaking or has been subject of a petition to appoint an examiner, or (d) If an encumbrancer or or similar party takes possession of Property; or (e) If Property is compulsory purchased or requisitioned, or (f) If a building on Property is pulled down, removed or damaged so as to materially depreciate value of security, or (g) If Applicant yields up possession of security to permanent tsb, or (h) If any of representations made by Applicant to permanent tsb prove to be materially untrue All payments made by Applicant shall be made without set off or counter claim on any account whatsoever and without any deduction or withholding wher in respect of taxes, levies, imposts, duties or orwise howsoever, except to extent that Applicant is required by law to make payment subject to any such deduction or withholding. If Applicant is required by law to make any such deduction or withholding, Applicant shall pay to permanent tsb such additional amount as may be necessary to ensure that net amount received by permanent tsb shall equal amount which but for such deduction or withholding permanent tsb would have received The monthly repayment may be varied at any time and from time to time by written notice to Applicant from permanent tsb so as to take account:

19 (a) any variation in interest rate, (b) any variation on method of calculation of interest, (c) furr monies advanced to Applicant, (d) arrangements made with Applicant whereby payment in respect of any insurance undertaking by permanent tsb are to be met by Applicant, (e) change in rate or incidence of taxation, (f) policy or policies of life assurance taken out in conjunction with Advance being allowed to lapse or premium for keeping same in force or accumulating its value falling into arrears, (g) policy or policies of life assurance taken out in conjunction with Advance being or becoming inadequate or, being subject to fluctuation, could become inadequate to repay Advance or a required part of it, (h) any variation in repayment period, suspension of payments or capitalisation of arrears; (i) partial redemptions, and / or, (j) any or matters which permanent tsb considers appropriate Where Existing Mortgage provides for additional loans and calculates interest annually in advance, that is, on a Annual Rest basis, Conditions to of Conditions shall apply in modification of provisions in such Existing Mortgage. The monthly or or periodic instalment (which may comprise principal and interest or interest only) shall be paid on Specified Day as defined in Condition of Conditions rar than as stated in Existing Mortgage. In all or respects provisions of Existing Mortgage shall apply. 13 JOINT AND SEVERAL LIABILITY If re is more than one person included in expression Applicant n obligations of such persons in respect of Mortgage and Conditions shall be joint and several and act or default of any of m shall be deemed to be act or default of all of m. The Bank may release, or grant time or indulgence to, any of such persons without affecting its rights against or(s) and Bank may provide information held by it to each of such persons and ir respective advisers about or(s) of m. 14 MISCELLANEOUS CONDITIONS 14.1 In case any one or more of conditions contained herein should be invalid, illegal or unenforcable in any respect under any law, or any direction, regulation, code of practice, issued by a competent authority or agency (wher in Ireland or elsewhere and wher or not having force of law), validity, legality and enforceability of remaining provisions contained herein shall not in any way be affected or impaired reby No omission or delay on part of Bank in exercising any right, power or privilege hereunder shall operate as a waiver reof, nor shall any single or partial exercise reof or of any or right, power or privilege. The rights and remedies herein provided are cumulative with and not exclusive of any rights or remedies provided by law The Applicant will pay on demand and on a full indemnity basis all fees, charges, costs and expenses, legal and orwise, incurred by Bank in connection with perfection of any security for Advance and preservation or enforcement of any rights under Mortgage and Conditions or under such

20 security (but, for avoidance of any doubt, excluding any legal fees incurred by Bank in investigating title). The Bank s certificate as to amount of said charges expenses and costs shall be conclusive save for manifest error. Such charges and/or expenses may be debited to Applicant s account and, until paid, shall form part of balance on which interest is calculated and payable in accordance with terms of Mortgage and Conditions Each demand or or communication to be delivered to Applicant under Agreement may be served on Applicant in manner specified in Mortgage permanent tsb may record or monitor telephone calls in order to ensure security for its customers and its staff, for fraud and crime prevention purposes, and to help to maintain service quality and resolve disputes. The Applicant hereby consents to permanent tsb recording or monitoring telephone conversations between permanent tsb and to any such recording, or transcript reof, being used in evidence in any litigation, arbitration or or dispute proceedings. 15 PRESERVATION OF STATUTORY RIGHTS No provision of Agreement shall affect Applicant s statutory rights under Consumer Credit Act, 1995 or any regulations made reunder. If re is any conflict between Agreement and any statutory rights, such statutory rights will prevail. 16 COMPLAINTS permanent tsb is committed to providing Applicant with highest standard of service. However if Applicant has any complaint concerning permanent tsb s service Applicant should telephone or write to relevant branch or department concerned. permanent tsb s aim is to resolve complaints to satisfaction of its customers. If, having followed permanent tsb s complaints procedures, Applicant is still not satisfied with outcome, Applicant can refer matter to Financial Services Ombudsman whose contact details are as follows: Financial Services Ombudsman's Bureau 3rd Floor, Lincoln House, Lincoln Place Dublin 2 Lo Call: Tel: Fax: enquiries@financialombudsman.ie 16 GOVERNING LAW AND JURISDICTION The Agreement shall be governed by laws of Ireland. Without prejudice to right of permanent tsb to take proceedings before any or court of competent jurisdiction, Applicant hereby submits to jurisdiction of courts of Ireland. BMG0012 REV 2009/11