Further vetting of property documents

Our Ref: LJ/PJ/01/2007

Dated: March 28, 2007

Mr. A

Resident Vice President &

Head of Credit Risk Management Services

Bank 1

109, Gulshan Avenue

Dhaka – 1212

Dear Sir,

Re:      Further vetting of property documents

A/c. Company 1

We refer to your letter dated14.03.2006 on the above subject.

We have perused the documents/papers (all photocopies) that you have referred to us in relation to Our Legal Opinion dated 06.05.2006 and 24.12.2006 our opinion on the documents/papers is as follows:

1.      Non Encumbrance Certificate dated 29.01.2007 issued by Searcher counter signed by concerned Sub-Registrar for land measuring 3.25 acre from 1994 to 2005 have been submitted.

2.      Valuation Certificate dated 06.02.07 issued by Mohammad Elias, Assistant Engineer (Civil), Chittagong Development Authority for land measuring 3.25 acre has been submitted.

It is stated in your letter that The Original Deed of Sale No. 6671 dated 27.12.1954 was destroyed during the liberation war. In such situation Bank may obtain an Affidavit from the present owner Company 1Limited represented by its Managing Director in this regard and also an Undertaking stating that it did not deposited the Original Deed of Sale No. 6671 dated 27.12.1954 to any body to create equitable mortgage, in case of providing false statement, it will compensate the Bank and will be liable criminally.

The following documents/papers is still wanting:

a)      Relevant P.S. and B.S. Khatians (corresponding to R.S. Khatian No. 356).

b)      Up to date Non Encumbrance Certificate issued by a Deed Writer and Searcher.

c)      Up to date Municipal tax payment receipt, if applicable.

All papers/documents referred to us are returned herewith.

Kindly acknowledge receipt.

Thanking you.

Yours faithfully,