CIVMB T3-3 Preliminaryassessment v2

Topic 3-4 Supplementaryy material Supplementar

Letter of offer © Reproduced with permission.

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Term Loan Facility Agreement Details Important:  The information in these Details is current as at 04/09/2015 04/09/2015 (the disclosure date). The amounts

and figures marked * are only estimates. They are based on a number of assumptions, including that payments will be made on time, that the interest rate and fees and charges will not change after the disclosure date and that you borrow the loan amount in full on the disclosure date. This document does not contain all the terms of your facility agreement or, if your facility is regulated under the National Credit Code, all of the information we are required by law to give you before the facility agreement is made. Further terms and information (including the meaning of words printed like this) are in the Facility Agreement General Terms for the Fixed Rate (Interest Only) Mortgage Loan (“General Terms”). (In the General Terms, a reference to the “Details” is a reference to these Term Loan Facility Agreement Details.) Customer:

A.

Financial information table

Facility limit

The facility limit is made up of: • Fees and charges charges included in the facility limit

$1,228.00

• Balance

$214,772.00 Total facility limit

The product type is:

Interest rate

$216,000.00

 ____________________ with principal and interest repayments repayments

The annual percentage rate is a variable interest rate, being the ______________ on the settlement date, currently 5.91% per annum less a margin of 0.81% per annum. annum. Accordingly, the variable interest rate is currently 5.10% per annum. Interest offset arrangement A 100% Interest Offset is only effective on _______________________ Home Lo an accounts during any period when a variable interest rate applies to your account .

Repayments

You must make 360* consecutive monthly  principal and interest repayments repayments (over a period of an equivalent length) as follows:

• 360 * repayments of $1,182.77* each. repayment day after the settlement date. The first repayment is due on the first principal and interest repayment Each subsequent repayment is due on each subsequent  principal and interest repayment repayment day. If there is repayment day in any month, the repayment is due on the no corresponding day to the  principal and interest repayment last day of that month.

If the repayment is due on a day which is not a banking day, you may make the repayment on the next banking day.

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Fees and charges Each credit fee and charge listed below is not payable by you to the extent that it has already been paid in connection with another facility agreement or mortgage with entered into with, or on or about the same time as this agreement.

Included in the  facility limit  and  and payable on the settlement date

Debited to an account  after  after the settlement date

1. These fees and charges are payable under this agreement 1.1 Credit charges charges payable to ___________________ ___________________ • Application fee

$600.00

• Legal services services fee

$200.00

• External valuation fee

$0.00

1.2 Government charges (a) Stamp duty (payable duty  (payable to the government revenue office in the state or territory where the relevant security  or  or security property  is  is located). (b) Land registry fees (payable fees (payable to the land titles office in the state or territory where the security property  is  is located). Important: These are the maximum fees payable as at the offer date. If the Land Titles Office charges us less, you w ill only be required to pay that lesser amount. • NSW — Discharge of pre-existing pre-existing mortgage registration registration fee

$107.00

• NSW — Mortgage Registration fee

$107.00

• NSW — Registration Registration of transfer fee

$214.00

• Discharge of mortgage registration fees payable payable each time a discharge of  ____________ mortgage is lodged. Total fees deducted from the  facility limit. TOTAL FEES AND CHARGES WHICH ARE DEFINITELY PAYABLE (to the extent ascertainable)

$107.00

$1,228.00 $1,335.00

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2. These fees and charges are or may become payable under this agreement 2.1 Credit charges charges payable to __________________________________ __________________________________ • Service fee

Amount $10.00

 – The monthly service fee is payable each month, month, after the settlement date, on the day which corresponds with the settlement date. If there is no corresponding day in any month, the fee is payable on the preceding day of that month.  – If the fee is payable on a day which is not a banking day, the fee is payable on the preceding banking day. • External valuation fee valuation fee

Unascertainable

Payable each time we require external valuers to conduct a valuation of the security property. • Additional legal service fee

Unascertainable

Payable where, after the disclosure date, we ask our solicitor or conveyancer to provide additional legal services relating to this contract because:  – the information you provided to us prior to the disclosure date is inadequate, incomplete or incorrect; or  – after the disclosure date, you request a change to this contract or the security. • Rate lock fee (payable fee (payable each time you apply to enter into a rate lock agreement ). ). The amount of the fee is agreed at the time the rate lock agreement is entered into.

Unascertainable

• Economic costs (payable whenever an economic costs event occurs). However, we will waive economic costs if you prepay less than the whole of the loan amount during an introductory fixed rate period. rate  period. It is calculated using the economic costs method (see clause 12 of the General Terms).

Unascertainable

• Variation fee

$300.00

Payable each time you request us to increase your facility limit, change or discharge the security. 2.2 Government credit fees and charges (payable to the Land Titles Office in the relevant state or territory) • Registration fee (payable fee (payable each time we need to register any additional document with the land titles office). The fee is the amount we are required to pay the land titles office.

Unascertainable

• Production fee (payable fee (payable each time we need to produce a title deed at your request). The fee is the amount we are required to pay the land titles office when it produces the document.

Unascertainable

Changes we may make without your consent Under this agreement, any of the following information which is given above maybe changed and w ithout your consent: • any interest rate, including including the annual percentage percentage rate • method of calculating calculating interest and the frequency frequency of charging it • a rate, name or description of any of our published published indicator rates • any interest rate  margin • amount, method of calculation, number, number, frequency or time for payment of repayments, or period over which repayments repayments are to be paid • interest rate amount and type of fees and charges and when they are payable (including by imposing new fees and charges or changing the method of calculation of a fee or charge). However, if your interest rate is fixed for a per iod, the interest rate  cannot be changed during that period.

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B.

Other informatio nformation n

Other information applicable to your account  Loan term:

The loan term is 30 years

Last date for borrowing:

03 December 2015

Due date for last repayment:

30 years from the settlement date

Commission to be paid by A commission is to be paid by ____________________ to _____________________ (Broker) for the introduction of credit business or business financed by the contract. Details are as follows: • An amount of $1,404.00 to ____________________ ____________________ (Broker). • Ongoing monthly commission based on volume volume of business introduced and loan life are payable payable by ____________________  ____________________ (Broker) the amounts of which are not presently ascertainable. This commission is in the range of 0% to 0.35% of the average debit balance owing on the account. This commission disclosure is correct as at the date this agreement was issued and is subject to change.

Security for the loan The following securities, if any, have been or are to be taken by us: • Mortgage over real property A first ranking mortgage is to be or has been taken over the following property:

Mortgagor(s): Address of mortgaged property: Title reference:

To be confirmed:

Credit provider

Financial summary We have attached a summary of your financial information (see Annexure document 'Financial Summary') based on the information provided in the application process. We have used the financial info rmation to assess your loan application and your ability to meet your loan obligations based on our Credit Policies.

Offer from __________________________ _____________________________ ___  on the terms and We offer to lend you the loan amount  on conditions set out in this offer and the separate General Terms booklet.

Signed on behalf of:

To accept the offer, you must sign and date this document and return it to us in the envelope provided.

Date: 04 September 2015

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Acceptance by customer c ustomer Do not sign this document unless you have received and read through the General Terms and the Facility Agreement Details. If you don't understand anything in the Facility Agreement Details or the Ge neral Terms, or believe they do not set out the agreement between you and us please contact us and ask for an explanation. You must understand that: • the security  described  described in the Facility Agreement Details will secure the Facility Agreement; • if you default under the Facility Agreement, the property provided to us as security  may  may be at risk; • we will rely on the accuracy of information that you give us in relation to the Facility Agreement; and • when you sign the Facility Agreement Details, we will rely on this as your acceptance of the Facility Agreement.

The notes in the following box only apply to you if you are an individual and, at the time you sign this offer, you intend to use the facility limit  wholly  wholly or predominantly for personal, domestic or household purposes or investment relating to investment property.

IMPORTANT BEFORE YOU SIGN

THINGS YOU MUST KNOW

• READ THIS CONTRACT DOCUMENT so that you know exactly what contract you are entering into and what you will have to do under the contract.

• Once you sign this contract document, you will be bound by it. However, you may end the contract before you obtain credit or a card or other means is used to obtain goods or services for which credit is to be provided under the co ntract by telling ____________________ in writing, but you will still be liable for any fees or charges already incurred.

• You should also read read the information statement: statement:

• You do not have not have to take out consumer credit insurance unless you want to. However, if this contract document says so, you must take out insurance over any mortgaged property that is used as security , such as a house or car.

“THINGS YOU SHOULD KNOW ABOUT YOUR PROPOSED CREDIT CONTRACT”. • Fill in or cross out any blank spaces.

• If you are to take out insurance, ____________________ cannot insist on any particular insurance co mpany.

• Get a copy of this contract document.

• If this contract document says so, ____________________ can vary the annual percentage rate (the interest rate), the repayments and the fees and charges and can add new fees and charges without your consent.

• Do not sign this contract document if there is anything you do not understand.

• If this contract document document says so, ___________________ ___________________ can charge a fee if you pay out your contract early.

Accepted by: Signature of Borrower:

Borrower's Full Name:

Date Signed:

Please sign here