Your Report on Title must be given to the Bank in the Bank s standard form Report on Title - HDB Property.

OVERSEA-CHINESE BANKING CORPORATION LIMITED POLICIES FOR HOUSING & DEVELOPMENT BOARD PROPERTY MORTGAGE 10 January 2019 (CREDIT FACILITIES ADMINISTERED BY CONSUMER LOAN OPERATIONS) General Unless otherwise instructed by OCBC Bank (the Bank or we), the law firm instructed to act for the Bank in the matter (you) shall conduct and make the following searches and legal requisitions (where applicable): (a) title search on the property to be mortgaged (Mortgaged Property); (b) searches on the mortgagor, guarantor and all other parties providing security for the credit facility and on the vendor; and (c) legal requisitions on the Mortgaged Property. The Bank shall not be held responsible for any delay due to insufficient time given to the Bank to act on the matter and/ or to your failure to comply with the instructions therein. You will be required to indemnify the Bank in full and hold the Bank harmless and fully indemnified on a full indemnity basis against any loss, costs, expenses that the Bank may suffer as a result of such delay/ such failure to comply. Please note that the bank s legal entity name is Oversea-Chinese Banking Corporation Limited or OCBC Bank. All original tax invoices and Cashier s Orders are to be addressed/ payable to Oversea-Chinese Banking Corporation Limited or OCBC Bank. You are require to put all documents addressed to Oversea-Chinese Banking Corporation Limited or OCBC Bank in a sealed envelope before handling them to your appointed couriers to prevent them from accessing the Bank customers information when they pick up package with your firm. Title Search A title search shall be conducted immediately after you have received the Bank s instructions on the matter and shall be updated on the day of the credit facility implementation or disbursement. Other Searches The following searches shall be conducted: (a) Borrowers and mortgagors/ guarantors/ other 3 rd party security providers: defendant cause book in both the High Court and Subordinate Court for the last 2 years and bankruptcy search (if an individual) or winding-up and judicial management search (if a corporation); and (b) Vendor (except for Housing & Development Board (HDB)): bankruptcy search (if an individual)/ winding-up search (if a corporation). All searches above shall be conducted immediately after you have received the Bank s instructions on the matter and (except for cause book searches) shall be updated on the day of the credit facility implementation or disbursement. You are not required to inform the Bank of any adverse or unsatisfactory search results arising from motor-vehicle accident claims. Legal Requisitions Unless otherwise instructed by the Bank, you shall promptly send legal requisitions to the following authorities: a) Inland Revenue Authority of Singapore; 1

b) (the applicable) Town Council; and c) HDB. If the Mortgaged Property is affected by any scheme or plan, please forward a copy of the plan and inform the Bank accordingly at least 7 working days before any disbursement of the credit facility. Advice On Title If there is any defect in the title or if the Mortgaged Property is encumbered (and such encumbrance will not be removed before the registration of the mortgage) or subject to restrictive covenants or if any of the searches or replies to legal requisitions or interpretation plans are not satisfactory, we will require your considered opinion and advice whether the Bank should proceed with the mortgage, with or without variation in the terms of our Letter of Offer, or whether the Bank may abort the financing. If there is any gift element in respect of the mortgaged property/ chargees asset(s), please confirm in writing to us that there are no adverse implications to the Bank s rights obligations or security interest Your Report on Title must be given to the Bank in the Bank s standard form Report on Title - HDB Property. Caveat You shall lodge a caveat against the Mortgaged Property prior to any disbursement of the credit facility and provide the Bank with a copy of the same. You shall lodge a caveat against the property to be sold and provide the Bank with a copy of the same prior to the disbursement of any Bridging Loan. You are required to renew the abovementioned caveat(s) prior to expiry of the same unless the Mortgage has been duly registered. Letter of Declaration Relating to Purchase Price Please confirm that the declarations provided by the borrower(s) in the Bank s standard Letter of Declaration relating to any discounts, rebates and/or benefits from the vendor, developer or any other party for the purchase of the Property are true and complete. Use Of Central Provident Fund (CPF) Where CPF funds will be used for the purchase of the Mortgaged Property, you will assist the mortgagor(s) to complete and submit the relevant forms in a timely manner to the CPF Board to obtain the requisite approval for the use of CPF funds. You will not require the Bank s approval or execution of any documents for the purposes of obtaining CPF Board s approval. In connection with the foregoing, you are required to ensure that you have given sufficient notice to CPF Board for CPF monies to be released for the servicing of the monthly instalments. In addition for refinancing cases, you are required to let us have a copy of the updated Redemption Statement. You are to ensure that the housing loan amount disbursed by the Bank will be accorded the agreed ranking with CPF Board as provided in the Bank s Letter of Offer. 2

Changes in Loan Amount, Cash Equity and CPF Utilisation Please use the Bank s standard letter form Request for Change/ Statement for any request to change loan amount, cash equity, CPF utilisation or statement of interest or principal outstanding for Bridging Loan or Short Term Loan. Multiple Representation Where you have been retained or have accepted instructions to act for more than one party to a transaction where a diversity of interests exists between the parties, it is your responsibility to determine how you are best able to discharge your duties including to disclose the multiple representation and all material facts relating to the parties and to the transaction. We require your confirmation (in the form as set out in our Report On Title-HDB Property) that you have advised each of the party providing security and/ or support for this transaction about the nature, effect and consequences of the transaction including that the Bank is fully entitled to enforce its legal rights in accordance with the terms and conditions of the security furnished. Execution of Documents by the Bank (a) You are to ensure that: (i) all documents are in order for execution by the Bank; (ii) the mortgagor(s)/ borrower(s) or their attorney (if applicable) have signed the documents which should be witnessed. If any document is signed by the mortgagor(s)/ borrower(s) outside of Singapore, the execution must be witnessed by a Notary Public and duly legalized by the Singapore Embassy in the jurisdiction where the execution took place, with the exception of documents executed and witnessed by a Notary Public in South Korea or a Commonwealth Country; (iii) Letter of Consent (in a form prescribed by the Bank) is obtained from both the relevant Borrower(s)/ Mortgagor(s)/ Guarantor(s)/ Chargor(s) and their spouse(s) if :- (a) any of the Borrower(s)/ Mortgagor(s)/ Guarantor(s)/ Chargor(s); or (b) any of their spouse(s), is / are citizen(s) of China, Myanmar, Indonesia, Thailand, Italy, Germany, Netherlands or Vietnam; and (iv) there are no amendments made to the documents with the use of correction liquid and all typographical amendments must be duly initialed against by the mortgagor(s)/ borrower(s). (b) We require at least 7 working days for execution and return of the documents. Please arrange to collect the executed documents from us thereafter. The Bank will cease to notify law firms on the collection of executed documents. (c) Should there be any amendments made on the legal documents for the following fields, they should be counter-signed by the Borrowers/ Mortgagors without fail: Borrower(s)/ Mortgagor(s) name Borrower(s)/ Mortgagor(s) NRIC and Passport No Property Address MM No. (d) If any other amendments are made other than the items mentioned in (c), it has to be countersigned by the lawyer without fail. (e) With effect from 20 February 2017, the mortgage-in-escrow must be forwarded to the Bank for execution prior to first disbursement of the credit facility. The duly executed mortgage-in-escrow will be returned to you for your custody till the said document is due for perfection. All mortgage and security or related documents for execution must be forwarded to the Bank under the Bank s standard letter form Execution of Legal Documents (Mortgage). 3

Stamping of Security Documents Please confirm that all security documents have been duly stamped to the maximum. Difference Between Purchase Price and Loan If the housing loan is to be used to finance the purchase of the Mortgaged Property, you are required to ensure that the difference between the purchase price and the housing loan is actually paid or will be paid by the mortgagor(s)/ borrower(s) on or before the first disbursement of the housing loan. Your written instruction/ advice to the Bank to disburse the housing loan or any part thereof shall be deemed and relied upon by the Bank as your confirmation that this condition has been or will be fulfilled on completion. Please note that you are required to ensure that the Borrower(s) makes the requisite cash down payment as required under the Monetary Authority of Singapore s Notice 632 on Housing Loans. Further, you are to ensure that such cash down payment is made in compliance with all rules, regulations, guidelines, notices, circulars or requirements of the Monetary Authority of Singapore or other relevant authority. In particular, without limiting the foregoing, please note that we rely on you to ensure that the amount of cash equity required to be paid by the Borrower(s) towards the purchase of the Mortgaged Property as stated in our Letter of Offer is accurate. If any revision or amendment is required to be made to such cash equity amount, you are required to inform us of the same immediately. Power of Attorney You are to confirm and highlight to the Bank (where applicable) that the attorney(s) appointed pursuant to the relevant Power of Attorney is authorised to act on behalf of the mortgagor(s)/ borrower(s)/guarantor(s)/third party security provider(s) (as the case may be) on the purchase, borrowing or such other transaction to which the Power of Attorney relates before any disbursement of the credit facility. You are required to submit the PDPA consent form from POA (known as Power of Attorney Form ) which is available on our website http://www.ocbc.com/me/loans/legaldoc.shtm) duly signed by the appointed attorney(s) and witnessed by a Notary Public or a lawyer from your firm. Please provide certified true copies of the Attorney s latest identification document and evidence on the proof of residential address document [* applicable if the address on the identification document differs from the address stated in the PDPA consent form from POA (known as Power of Attorney Form )]. * As proof of residential address, please provide one of the following documents: Statements, official correspondences, bills or certificates, from Banks, Licensed Insurance Companies, Telcos, Utilities Providers or Government Agencies. Documents must be dated within 3 months of the date of the PDPA consent form from POA (known as Power of Attorney Form ). For documents which are issued annually or half yearly, the most recent should be provided. 4

Facility Disbursement Prior to any disbursement of the credit facility, you shall: (a) ensure that it is in order for the Bank to disburse or implement the credit facilities or part thereof; (b) ensure that the amount requested for disbursement is correct, and where applicable, such amount will be used in accordance with the respective purposes specified in our Letter of Offer (in the case of purchase, such amount shall be paid directly to the vendor on completion and if the Mortgaged Property is subject to an existing mortgage which mortgage shall be discharged on completion, such amount shall be paid directly to the existing mortgagee); (c) ensure and confirm that all pre-conditions to disbursement (whether general or specific) as stipulated in the Bank s Letter of Offer and/ or otherwise advised by us from time to time prior to disbursement have been fulfilled; (d) confirm the exact amount required to redeem an existing mortgage; (e) ensure that the disbursement of the housing loan is in accordance with the schedule of payment in the HDB Agreement of Lease or Option to Purchase (where applicable); (f) ensure that all security documents have been duly executed by the mortgagor(s)/ borrower(s)/ guarantor(s)/ third party security provider(s); (g) confirm that, where there is a condition in the Bank s letter of offer for mortgagor(s) to hold the Mortgaged Property as joint tenants, this is complied with; (h) ensure that the title to the Mortgaged Property is in order and update searches on completion or prior to release of funds; (i) ensure that all legal requisitions replies (where applicable) are satisfactory and in order; and (j) ensure that updated bankruptcy/ winding up/ judicial management/ defendant cause book searches (where applicable) in both High Courts and Subordinate Courts are satisfactory prior to your release of the funds. (k) ensure that the stamp duty on Option to Purchase/Sale & Purchase Agreement has been paid prior to release of funds (copy of Certificate of Stamp Duty to be forwarded to Bank prior to disbursement). (l) confirm Borrower(s) have attended HDB 1st appointment with HDB in regards to the sale of existing HDB property prior to the disbursement of Bridging Loan. Upon receipt of your advice/ instructions for disbursement/ implementation of the credit facility or part thereof, we will proceed with the disbursement/ implementation of the credit facilities or part thereof in full reliance of your professional advice/ instructions and on the understanding that you have discharged the aforesaid duties prior to such advice/ instructions for disbursement/ implementation. We require at least 7 working days for disbursement of the credit facilities or part thereof. In addition, you will have to reschedule the disbursement if all required documents are not in order by 11am, one working day before the indicated disbursement date. All instructions for disbursement must be given to the Bank under the Bank s standard letter form (Facility Disbursement). Please submit documents in the following order: (1) Cover Page indicating the documents submitted (duplicate copy to be returned to law firms upon acknowledgement) (2) Cheque(s) and Cashier s Orders such as Admin Fee/Bridging Loan (Note: Admin Fee to be submitted together with the Disbursement Facility Letter) (3) Cover Page (original copy) indicating the documents submitted (4) Disbursement Facility Letter (5) Disbursement Supporting Documents (Please follow the order as per Cover Page) 5

With effect from 20 February 2017, collection of Cashier s Order for Loan Disbursements will be at the following location: Oversea-Chinese Banking Corporation Limited Consumer Loan Operations 31 Tampines Avenue 4 #01-01/03 OCBC Tampines Centre Two Singapore 529680 In the event that you are given an additional Cashier s Order which has been issued in the names of the borrower(s) in relation to the package that the borrower(s) has/ have accepted, you are to ensure that the Cashier s Order is only given to the borrower/s after the completion of the purchase and the mortgage of the Property. In the event of cancellation or postponement of the completion, you are to also ensure that the entire Cashier s Order(s) that have been delivered to you are returned to the bank by the next working day. Legal Cost Subsidy Where legal costs subsidy is payable by the Bank, payment of your legal fees and disbursements will be made only upon receipt by the Bank of the following documents: (a) all original title deeds and mortgage/ mortgage in escrow and Deed of Assignment to the Mortgaged Property and any other security documents; and (b) original tax invoice addressed to Oversea-Chinese Banking Corporation Limited or OCBC Bank. Safekeep of Documents All **Title deeds for the Mortgaged Property and security documents must be forwarded to Consumer Loan Operations for safekeeping in one batch within 2 months from the date of first disbursement of the credit facility or the release for the perfection of the mortgage-in-escrow, whichever is applicable. Please use the Bank s standard letter form (Safe-Keeping of Title Deeds and Security Documents) **Title deeds For completed properties Mortgage with Certificate of Stamp Duty and Lease For properties under construction Deed of Assignment with Certificate of Stamp Duty, Agreement to Lease with Certificate of Stamp duty (applicable for BTO) and Sales & Purchase Agreement with Certificate of Stamp Duty (applicable for DBSS). With effect from 20 February 2017, the mortgagein-escrow must be forwarded to the Bank for execution prior to first disbursement of the credit facility. The duly executed mortgage-in-escrow will be returned to you for your custody till the said document is due for perfection. Important Note: (a) Please do not submit documents that are not relevant to the transaction nor documents that are not set out in the relevant letter of offer. Such actions on your part result in unnecessary expense on our end and we may take steps to recover such costs from you. (b) Payment of your invoices will be delayed and returned if the title deeds and the security documents are not in order. (c) Invoices will be returned for reissuance if there are discrepancies in the invoice. 6

Perfection of Mortgage You shall use the Bank s standard form Release of Documents or Facility Disbursement (where applicable) to request for any release of the Mortgage-in-Escrow for the perfection of the Bank s mortgage or inform the Bank that the executed Mortgage-in-escrow which is in your custody will be sent for perfection of the Bank s mortgage. The Mortgage and/ or any security related documents must be forwarded to Consumer Loan Operations for safekeeping in one batch within 2 months from the date of final disbursement of the credit facility using the Bank s standard form for safekeeping of Title Deeds and security documents. Redemption You shall give notice of redemption in the Bank s standard form (Notice of Redemption/ Request for Reschedule of Redemption Date). Please send the first notice of redemption by hand only. We will not process fax submissions. The Bank will only provide a total of ONE preliminary statement and ONE final redemption statement for each completion date. The Bank will fax you the final redemption statement on completion date. In the event that you require an additional redemption statement other than the two redemption statements mentioned above OR require the statement earlier, please use the Bank s standard forms as follows and indicate the reason to the Bank with at least 1 week s advance notice: (1) Please submit your request for reschedule of redemption date using the Notice of Redemption/ Request for Reschedule of Redemption Date form. (2) Please submit your request for revised redemption statement via fax only at 6830 7933, using the Request for Revised Redemption Statement form. With effect from 26 Oct 2009, collection of Legal Documents, unless otherwise advised, will be at the following location: Oversea-Chinese Banking Corporation Limited Custodian Unit 31 Tampines Avenue 4 #01-01/03 OCBC Tampines Centre Two Singapore 529680 You shall ensure that discharge documents are in order for the Bank to digitally sign/ execute. You will be responsible to ensure that the security is not released until all outstanding on the account has been settled in full. In the event that the balance outstanding to the Bank is being settled not solely by way of a Cashier s Order, our prior written consent must be obtained before the mortgage is discharged. All discharge documents for digital signing/ execution must be forwarded to the Bank under the Bank s standard letter form (Execution of Legal Documents (Redemption). The Cashier s Order for full settlement of the account must be hand-delivered to Consumer Loan Operations latest by the next working day following the completion date at the following specified times:- Between 9.00am to 10.00am on weekdays (Mondays to Fridays), including the eve of New Year, the eve of Chinese New Year and the eve of Christmas. Cashier s Order received after the above specified times shall be deemed to be received on the next working day whereupon interest shall accrue accordingly. 7

All title and security documents to the Mortgaged Property and any digitally signed/ executed discharge document must be cancelled/ returned to the Bank in the event that the redemption is aborted for any reason. Repayment of Bridging Loan/ Short Term Loan Please use the Bank s standard letter form (Repayment of Bridging Loan/ Short Term Loan) for any repayment of Bridging Loan or Short Term Loan. You shall ensure the Bridging Loan is refunded back to the Bank in the event the sale of the existing property is aborted or rescinded for whatsoever reason. OCBC Anti-Bribery and Corruption Policy Please refer to our letter to you on Anti-bribery and Corruption. You and your employees are required to perform services for and on behalf of OCBC Bank in accordance with our Anti-Bribery and Corruption Policy. Please be informed that the Bank has zero tolerance of any form of illegal activity, bribery and corruption. Please write to the Bank if you require a copy of our Anti-bribery and Corruption policy. Website All standard forms referred to in this Policy are available in the Bank s website at http://www.ocbc.com/me/loans/legaldoc.shtm. Please send all standard letters to Consumer Loan Operations in triplicate. 8