Ref: Prime/HO/SME/10/2585

August 10. 2010

Attention: Md. Minto miah

Proprietor of M/S Aivan Enterprise

Addiess- 1-B/8 No. Golden Plaza, purbo Aganagar, Keranigon, Dhaka

Through: Aganagar Br.(BSE)

Re: Sanction of Chalti Rin under SME credit scheme for Tk. 15,00 Lac (Taka Fifteen Lac) in facoring A/c. M/S Aivan Enterprise.

Dear Sir

In consideration of your application dated july 05.2010 the captioned subject, we would like to inform you that the Management of the Bank
pleased to approve the proposl for snction of a chalti Rin facility for Tk, 15.00 Lac (Taka Fifteen Lac) only subject to obtaining clean & up-to-
date CIB, under the following terms and conditions:

Details of the approved facillties:

1(a) Nature of Adance : Term Loan (General)

(b) Amount of Loan : Tk. 5.00 Lac (Taka five Lac)only.
(c) Purpose : Working Capital Financing
(d) Rate of Interest : 15% p.a. With monthly rest subject to the change(s)that may be made
by the Bank from time to time
(e) Penal interest : @ 2.00% p.m. will be realized on overdue loans & advances for the
overdue period only in addition to the approved rate of interest on
regular credit
(f) Processing fee& Vat (No-Refundable) : 1% of loan amount to be realized upfront with BAT thereon at the time
of disbursement
(g) Monthly Installment : Tk. 24.350/-(twenty Four Thousand Three Hundred And Fifty)only
(h) Validity/Expiry date : 24 months from the date of disbursement
(i) Mode of repayment : By depositing 24 (Twenty four) equal monthly installments @ Tk.
24,350/- each starting from the following month from the date of
disbursement. However, any shortfall or excess amount shall be
realized with the last installment.
(j) Early settlement fee : 1% on the prepaid amount, if paid 1 year or outstanding exceeds 50%
of principal amount

2(a) Nature of Advance : CC (H) Limit

(b) Amount of Loan : Tk. 10.00 Lac (Taka Ten Lac) Only.
(c) Purpose : To meet up working capital requirement of the business
(d) Margin : 50% on stock in trade of the firm. Stock to be verified by the Bank Official (s) at least once in a month and
stock reports to be retained in the file duly verified and signed by the supervising Official (s) and also
countersigned by the Branch Manager (Branch shall allow drawing to the customer after deducting
equivalent amount of stipulated margin from total value of stock within the sanctioned limit/drawing
power whichever is lower. Valuation of stoke will be done on the basis of cost price of market price
whichever is lower)
(e) Rate of Interest : 15% p.a. With monthly rest subject to the change(s)that may be made by the Bank from time to time
(f) Penal interest : @ 2.00% p.m. above the regular interest rate to be applied on overdue amount.
(g) Processing fee& Vat : 1% of the approved amount to be realized upfront with VAT thereon
(No-Refundable)
(h) Validity/Expiry date : 01 year from the date of first disbursement.
(i) Mode of repayment By depositing daily sale proceeds or cash from own source of the customer. Credit turnover in the account
must be at least equal to the limit once in a quarter but full and final adjustment shall be made within the
validity period.
3. Collateral/Securities for the all facility:

a.

R/M of landed property as per following schedule:

Location of the Owners Area in Present use Khatian No Plot No Present Value Forced Sale
land decimal of land (Tk.) Value(Tk.)
Mouza- Mr. Md.Mintu C.S & 28,000,00 13,000,00
Chunkutia, Miah.&Most Building C. S.:486 S.A.:389, R.
J,L,No.:Sabek- Parvin Begum 3.50 S . A.:423 S.:764
432, Hal- 84, R . S.: Mut.:
Keranigonj, Dist: 386,
Dhaka 16,000,00 13,77,000,00
Total 44,20,000,00 37,57,000,00
Valuation as assessed by surveyor Unique Service Bureau dated August 05, 2010
b. You have to execute Registered Irrevocable General Power of Attorney (IGPA) authorizing the bank to sell the mortgaged property without reference to the court
in case of default.

c. Disbursement of the above credit facilities subject to the vetting of property documents including the original Title Deed betted by the
advisor and mortgage documentation formalities as per the legal vetting

d. Hypothecation of inventory/goods/stocks/machineries stored/to be stored at your at your shop/go down/factory all owned by you duly
insured covering FIRE & RSD risks with Bank’s Mortgage clause for a minimum sum of 10% above the loan amount at the client’s cost from the
PBL approved insurance companies.

e. Hypothecation of book debt & receivable/plant & machineries at your firm all owned you.

f. Irrevocable General Power of Attorney (duly notarized) favoring the bank authorizing the Bank to sell the inventory/stock under
hypothecation without further reference to the court in case of default.

g. 06 (Six) ones. of undated cherubs for Tk. 24,350/- each and 01 (one) undated cheque for full loan value including full interest favoring the
Bank duly signed by the customer with irrevocable letter of authority.

h. Usual Charge Documents.

i. Personal Guarantee of Parvin Begum, W/O Md. Minto miaj. Address- 14, Block- B, Kaligonj Poshchim para, Para, Noabari, PO: Shuvadda, PS:
Keranigonj, Dhaka.

j. personal Guarantee of Md. Helal, S/O-Late Abdul Latif Bapary, Address- House# 64, Mirerbag, Khejurbag, PO: Sirajdikhan, Munshigonj.

k. Personal Guarantee of Md. Shahid Alam, S/O Md. Khorshed Alam, Address-House# 64 Mirerbag. Khejurbag, PO: Pargendaria, PS: Keranigong,
Dhaka.

4. Conditions Precedent:
The loan is available subject to receipt by the Bank of the following documents, inform and substance, or evidence of
compliance, satisfactory to the Bank;

a. this letter unconditionally accepted by your/yourselves,

b. payment of the processing fee,
c. the loan agreement for the loan,
d. Compliance with applicable regulatory and legal requirements,
e. Completion of the Bank’s required security documents duly signed by the authorized signatories of the Borrower.
f. In the event the Borrower is a limited company then a resolution from the Board of Director’s needs to be obtained
covering the authority of availing the Loan Amount and executing the loan documentation and dealing the signatories
authorized to execute necessary applications along with their specimen signature.
5. Special Conditions:
a. An Indemnity from you to the effect that you shall indemnify the Bank for any loss/damage for
allowing waiver of obtaining flood, Cyclone, House Breaking and Burglary insurance cover against
hypothecated items.
b. A declaration to be obtained from you to the effect that no Director/Sponsor of Prime Bank Ltd. or
any of their family Members/Dependent has got any direct or indirect interest in their business
and/or in the business of their sister/allied concern.
c. All documentation formalities shall be completed before disbursement.
d. All other usual terms and conditions as applicable in the bank must be observed.
e. In case of early settlement/partial settlement 1% early settlement fees will be paid by you on
outstanding balance and this will be applicable for term loan.
f. Personal guarantee of the mortgagors.

6. Events of default:

The facility(s) extended to you will be treated as “Defaulted” If you:

a. fail to pay any sum due from it hereunder on the due date or on demand. if payable.
b. fail to observe or perform any of its other obligations under this letter or under any undertaking or
arrangement entered into in connection herewith and the case of a failure capable of remedy, the
same is not remedied within twenty-one days after Borrower become aware of the failure, to the
Bank’s satisfaction;
c. transferred or disposed of, or threatens to transfer or dispose of a substantial part of its business or
assets’
d. adverse change in the financial position.

7. other terms and condition:

a. You shall submit all the relevant documents regarding ownership/rental of the premises with rent
payment receipt, including letter of disclaimer, as the case may be, where the stock of goods to be
hypothecated to the bank.
b. You shall have to submit a quarterly stock and receive statement. Valuation of stock to be done on
the basis of cost price or market price whichever is lower.
c. NOC from our Bank to be obtained prior to avail any credit facility either in the name of the business
or Customer personal name from any other Bank/financial Institution.
d. The sanctioned limit shall be treated s cancelled if you fail to give acceptance of sanction terms
within 30 days and fails to avail the loan/investment within 90 days from the date of sanction.
e. The Bank reserves the right to cancel or call back the sanctioned limit or alter, mend the terms
&conditions of this sanction letter wholly or partly at its discretion without assigning any reason
whatsoever.
f. Any change in the constitution of the entity and/or address of the sales outlet/factory/godown shall
not take place without a NOC from the Bank.
g. All reasonable expenses (including legal, professional etc.) incurred in the negotiation, preparation,
execution and enforcement of this letter and the documents referred to herein shall be your
account (Borrower). The Bank is further authorized to debit all sorts of fees provided that these fees
re consistent with the Bank’s schedule of fees.
h. All stamp and similar taxes (govt. levis. excise duty etc.) to which this latter or the documents
referred to herein are to be paid by you.
i. This credit facility is granted under, and subject to, the conditions and limitations set out and
specified by the Bangladesh bank and other competent authorities from time to time and you will
abide by the rules and regulations issued by the Bangladesh bank and other competent authorities.
j. You will be responsible to renew the Trade License, Insurance policy and any other legal documents
to continue business when due within the currency of the loan.
k. You shall maintain depository relationship with our Bank (Savings Account, scheme deposit etc.).
l. You shall have to ensure that the facility is utilized for the purpose granted. Any deviation may be
constructed as a beach of contract and will not be accepted by the Bank. Such deviation will result in
the immediate recall of the credit facility.
m. If there occurs default in payment of three (3)consecutive installments and/or interest, the bank
may in its discretion without notice to you, proceed to take legal action as per the law of the land
and other legally permissible action including set off balance amount from your other account in the
bank.
n. You shall have to operate all your transactions through PBL account and 50% To 60% sales proceeds
should be routed through the designated a/c in PBL.
o. Excess drawing over the sanctioned limit is strictly prohibited.

8. Dispute:

In the event of any dispute between the parties, they shall try to resolve the dispute amicably. In the
event of failure to resolve it shall be referred to the competent court(s) in Bangladesh. The dispute shall
be governed by and constructed in accordance with the laws of People’s Republic of Bangladesh. Kindly
confirm your acceptance & understanding of the foraging terms conditions by signing on the DUPSICATE
copy of this letter.

We look forward to long and mutual beneficial relationship.

Yours faithfully,

Authorized Signature Authorized Signature