The Main Terms And Conditions 12 Fire Takaful / Houseowner’s Takaful a) You are to cover the property(ies) to be charged/assigned to the Bank with such takaful provider as may from time to time be approved by the Bank in the name/joint names (wherever applicable) of the customer(s)/chargor(s)/assignor(s). The Bank as chargee/assignee, shall be nominated as loss payee against such risks and for such sums as the Bank may require. Notwithstanding the aforementioned, the Bank shall be at liberty and is hereby expressly authorised to effect, maintain or renew any such takaful coverage as aforesaid as the Bank may think fit and any cost and expense incurred shall be borne by you. b) _Allresidential property(ies) to be covered under houseowner certificate(s) whilst commercial and vacant property(ies) will be covered under fire certificate(ies). In this respect, you are to let us have custody of a copy of the takaful certificate or master certificate (whichever is applicable) prior to release of the Facility(ies) or upon delivery of vacant possession for property(ies) under construction. Where the property(ies) are under construction, you are to secure takaful coverage in respect of the property(ies) upon commencement of construction save for property(ies) directly purchased from a developer. 13 Mortgage Reducing Term Takaful (“MRTT”) a) — Conditions applicable to Financing the Mortgage Reducing Term Takaful ("MRTT") Takaful Contribution The Bank may at its discretion finance the takaful contribution payable for the MDTA/MRTT Policy subject to the following conditions: i. the MDTA/MRTT must be taken from an takaful operator which is acceptable to the Bank. If your application is rejected, the Bank will not finance the takaful contribution; ji, only the basic takaful contribution for the MRTT will be financed. The takaful ‘operator reserves the rights to impose a loading or excess to the basic takaful contribution based on your occupation and medical/health conditions. If the takaful ‘operator requires a loading or excess or if the final takaful contribution exceeds the amount stated in this Letter of Offer ("differential amount") to be paid, you will bear the cost of such loading, excess or differential amount. The Bank shall be entitled at its absolute discretion but shall not be obligated at any time and without further Notice to you, to debit your account for such amounts as may be necessary to procure the MDTA/MRTT. In the event the final takaful contribution quoted in the letter of acceptance or letter of offer by the takaful operator is lower than the MRTT Financed Amount stated in this Letter of Offer, the whole MRTT Financed Amount shall nevertheless be disbursed. However, any excess amount financed and not applied towards the takaful contribution, shall be credited to your term financing account; ii you must assign absolutely all rights, title, interest and benefits under the MRTT Policy to the Bank and with the Bank named as the sole beneficiary; and b) Where Mortgage Decreasing Term_Assurance (‘MDTA') MRTT is required but is not financed by the Bank, the MDTA/MRTT may be taken up from an insurance/takaful operator of your choice. The premium/takaful contribution for the MDTA/MRTT must be paid within 14 days from the issuance of the letter of acceptance or letter of offer by the insurance/takaful operator for MDTA/ MRTT. Payment in respect of premiumitakaful contribution shall be made in the manner allowed or provided for by the insurance/takaful operator. You are to ensure that payment information where required is indicated correctly, which include your nominated insurance/takaful operator name, Accounts No., your full name (as per IC), IC No. and Policy/ Certificate No. (as stated in the letter of acceptance! policy/ certificate), ©) Your entitlement to the promotional rates for Term financing (if applicable) is conditional upon the approval of the takaful operator of your MRT application and the payment of takaful contribution. If this condition is not complied with for any reasons whatsoever, the Bank is entitled to withdraw the promotional rates and impose the non-promotionabrates at its absolute discretion. d) Ifyou default under any terms of the Facilities or are in arrears of the Instalments for at least three (3) months, the MRTT certificate may be terminated by the Bank and the Bank shall HLISB/CM Flexi Ppty/TnC incl HFF-i Apr 2018 8