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ENCLOSURE № 10

DSK BANK CONDITIONS FOR PROVIDING HOUSING LOANS TO PHYSICAL PERSONS BULGARIAN AND FOREIGN CITIZENS LIVING AND WORKING OUTSIDE BULGARIA

Product description: Housing loan for purchase of apartments, houses, villas and garages, with construction system “monolithic construction”:
- completely constructed and provided with usage permit;
- at the stage of “raw construction”, i.e. with certified roof construction (constructed to full height);
- apartments and garages for which the loan applicant has paid with own funds construction right for a certain estate and the buildings are constructed by construction companies, approved by DSK Bank.

Product parameters:

1. Own participation compared to the value of the deal – minimum of 30 %. Deferred payment of the own participation is not allowed.
2. Maximum allowed amount of the loan: up to 70 % of the purchased property evaluation as determined by the Bank. The estate accepted as collateral should not be encumbered with real burden.
3. Collateral

1. The real estate together with the construction right which is acquired by the loan.
3.2. The real estates accepted as collateral should be insured according to Bulgarian legislation for a value in compliance to the requirements of the Bank for a value equal to the market value as determined by Bank’s valuer.
3.3. All expenses for registration of collateral and its insurance shall be paid by the loan applicant.

4.1.Repayment term: minimum term - 5 years, maximum term - 20 years.
4.2. For purchase of ready estates and at the stage of “raw construction” a grace period may be negotiated for repayment of the principal of the loan for up to 12 months.

5. Age restrictions: Minimum age of loan applicant – 21 years and the loan applicants should not have completed 70 years as of the final maturity date for loan repayment.
6. Credit currency: euro.
7. Credit amount: from 5 000 EUR to 200 000 EUR.
8. Total credit exposure: 300 000 EUR.
9. Condition for use of more than one loan: credit history with DSK Bank – minimum 6 /six/ months.
10. Loan repayment: by equal monthly instalments at a maturity date determined by the Bank.
11. The repayment shall be performed only through a current account in euro opened with DSK Bank with an amount of minimum 300 euro. After conclusion of the loan contract by one transfer the loan applicant should provide the amount of three repayment instalments. Obligation of the loan applicant is during the period of loan repayment, two days prior to the maturity instalment to provide on the current account a sufficient amount of money for repayment of any due monthly payment and for the monthly fee for maintenance and operative service of the current account. The Bank shall withhold on a monthly basis from the current account the due monthly instalment on the maturity date.
Pre-term repayment shall be performed only through the current account and the loan applicant shall also provide an amount for payment of the due pre-term payment fee.

12. A nominal annual interest rate of 7 (seven) per cent shall be applied to the loan.
13. Sanctions for non-payment of the due monthly instalments:

- For non-payment of the due monthly interest instalment, the amount of the loan shall be recalculated with the regular interest rate increased with 3 (three) percentage points;

For non-payment of the due monthly principal instalment, the remainder of the loan shall be recalculated with the regular interest rate, increased by 10 (ten) percentage points.- In case of delay in the payments over 90 days, the entire remainder of the loan becomes pre-term executable. Until the claim is filed for legal foreclosure the remainder of the loan shall be recalculated with the regular interest rate, increased by 10 (ten) percentage points.

14. Fees and commissions:

- Fee for review of loan application, estate evaluation and commitment – 500 euro; in case of refusal of loan permission, the fee shall not be restored.
- Management fee – 1,3 % single payment on the amount of the permitted loan.
- Maintenance and current account operative servicing fee– 0,50 euro, on a monthly basis.
- Pre-term partial or full repayment fee – 5 % on the amount of the pre-term repaid amount. The fee shall be applied regardless of the amount of the pre-term repaid amount and shall be paid on pre-term repayment from the amounts, provided on the current account.
- Mortgage registration fee- 20 euro.
- Other fees due according to the Bank’s Tariff.

The regular and sanctioning interest rates, the fees and commission may be changed by decision of the Bank and shall become obligatory for the parties under the loan contract.

The loan contract shall be concluded in Bulgaria and the applicable law is Bulgarian law.