Vetting of property documents

Our Ref: LJ/PJ/05/07                                                            Dated: May 28, 2007

The Manager

Consumer Credit Risk Personal

Financial Services

Bank 1

Dhaka Main Office

Anchor Tower 1/1-B

Sonargaon Road

Dhaka-1205

Dear Sir,

RE: VETTING OF PROPERTY DOCUMENTS A/C. “W”.

We refer to your letter dated 22 May 2007 on the above subject.

We have perused the documents/papers (all photocopies) that you have referred to us and our opinion is as follows:

1. Owner of the property : MR. A, son of Mr. X of 89/1, Lake Circus, Kalabagan, Dhanmondi, Dhaka.
2. Description of the property : All that piece and parcel of land measuring 3.00 katha or 0.0495 acre within District-Dhaka, P. S. Tejgaon thereafter Shobujbagh at present Khilgaon and Sub-Registry Office – Shutrapur, J. L. No. Sabek 290 at present no. 120, Mouza – Uolan, under C.S. Khatian No. 200, S.A. Khatian No. 373 C.S. & S. A. dag No. 659, Company Layout Plot No. B/37, Road # 7, Banasree, which is butted and bounded by:On the North  : Company’s Layout Plot# B/36, Road # 6

On the South  :   Company’s Layout Road

On the East  :  Company’s Layout Plot# B/39, Road # 7

On the West  :  Company’s Layout Plot# B/35, Road # 7
3. Area : Land measuring 3.00 katha or 0.0495 acre.
4. Title Deed Referred : Deed of Sale No. 890 dated 04.03.1997 executed by Eastern Housing Limited in favour of MR. A.
5. Bia Deed : Bia Deed of Sale No.1921 dated 27.04.1989 executed by 1) Kazi Raihanul Amin Chowdhury 2) Kazi Ruhul Amin Chowdhury and 3) Kazi Rezaul Amin Chowdhury in favour of Eastern Housing Limited.
6.

Mutation

 : Submitted Mutation parch alongwith DCR no. 35226 from which it appears that land measuring 0.0495 acre under Mouza-Uolon, Gulshan, Dhaka have been mutated in the name of MR. A vide Mutation and Separation Case No.6626/2006 dated 07.06.2006.
7. Khatian : Submitted C.S. Khatian No. 200, R. S. Khatian No.1338, Marth Parchaa Khatian No. 3452.
8. Chain of Ownership : From the submitted C.S. Khatian No. 200 it appears that, land measuring 1.87 acres under dag No.659 was recorded in the name of Mr. Sharal Kha.

From the submitted R. S. Khatian No.1338 it appears that, inter alia, land measuring 0.0500 acres under dag No.2971 was recorded in the names of Ms. Mahmuda Khatun, Mr. Showkat Ali, Mr. Shiraj Uddin, Mr. Kazi Ruhul Amin Chowdhury, Mr. Kazi Raihanul Amin Chowdhury.

From the submitted Marth Parchaa Khatian No. 3452 it appears that, land measuring 0.0500 acres under dag No.3496 was recorded in the name of MR. A.

From bia Deed of Sale No.1921 dated 27.04.1989 appears that 1) Kazi Raihanul Amin Chowdhury (R.S. Tenant) 2) Kazi Ruhul Amin Chowdhury (R.S. Tenant) and 3) Kazi Rezaul Amin Chowdhury sold land measuring 0.50 acres in favour of Eastern Housing Limited.

Thereafter the present owner MR. A became owner of land measuring 3.00 katha or 0.0495 acre by way of sale from Eastern Housing Limited vide Deed of Sale No. 890 dated 04.03.1997.
9. Ground Rent Receipt : Ground rent payment receipt No. S 938209 has been submitted, from which it appears that ground rent has been paid up to 1413 B. S. in the name of present owner namely, MR. A land measuring 0.0495 acre under dag No.2971, Mouza-Uolon, Gulshan Dhaka.Up to date ground rent receipt in the names of present owners should be obtained.
10.

Valuation Certificates

 : Not submitted.
11. Non-Encumbrance Certificate : Not submitted.Up to date non-encumbrance certificate is required to be obtained.
12. Municipal Holding Record : Not submitted.Bank should obtain up to date Municipal tax payment receipt, if applicable.
13. Wanting papers/Documents : (i) S.A. Khatian No. 373

(ii) Up to date non-encumbrance certificate.

(iii) Up to date municipal tax payment receipt, if applicable.

(iv) Valuation certificate, optional.
14. Opinion : Upon perusal of the documents/papers we are of the opinion that MR. A (the ‘Landowner’) has acquired prima facie right, title and ownership over the land in question. Physical possession of the present owner over the land should be ascertained and documents/papers referred in Clause 13 mentioned above should be obtained.The Landowner entered into a Deed of Agreement dated 04 march 2006 (the ‘Development Agreement’) with EMINENT PORPERTIES (PVT.) LIMITED, having its registered office at House # 24 & 25, Road # 6, Block – B, Banasree, Rampura, Dhaka – 1219 represented by its Managing Director H. M. Faisal Kabir (the ‘Developer’) for developing the land measuring 3.00 katha or 0.0495 acre. by construction of a six (6) storied building thereon and necessary Car Parking space in the ground floor of the building. In the terms of the Development Agreement, the Landowner will get 2(two) apartments in the 1st Floor and 2(two) apartments in the 2nd Floor and 2(two) Car parking places in the ground floor. And the Developer shall get the remaining apartments and car parking spaces and undivided and undemarcated proportionate land of the schedule property.

As per terms of the Development Agreement the Landowner MR. A executed an Irrevocable General Power of Attorney dated 05.03.2006 and appointed EMINENT PORPERTIES (PVT.) LIMITED, its Managing Director H. M. Faisal Kabir (the ‘Developer’) as his constituted attorney to develop the land, construct the building and flats and empowering inter alia to sell the same along with undivided and undemarcated proportionate land as per terms of the Development Agreement mentioned above.

From the submitted unregistered Deed of Agreement for Sale dated 02.02.2007 it appears that Mr. Mohammed Abu Shadak is going to purchase an apartment no. 502, apartment type – B measuring 930 sq. ft. on the 4th floor of the building named “Eminent South Breeze” built on the said land.

Bank can accept the property as security of loan after completion of the documentation formalities as per House/Staff Loan Policy.

We have provided this opinion on the basis of the documents/papers referred to us. We can not guarantee the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-registrar office or concerned authorities.

If you have any further query, please do not hesitate to revert back to us.

All papers/documents referred to us are returned herewith.

Kindly acknowledge receipt.

Thanking you.

Yours faithfully,

(______________)                                          (___________________)

Barrister-at-Law                                                        Advocate


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