CRE ACCEPTANCE – BORROWER - NATURAL PERSON

CRE ACCEPTANCE – BORROWER - NATURAL PERSON

Standartinė admin » 26 Bal 2016, 11:21

SPECIAL TERMS OF COMMERCIAL MORTGAGE LOAN – PROPOSAL (ACCEPTANCE) – RECIPIENT OF LOAN: NATURAL PERSON

No. ______,concluded on (date, time)

Whereas:
(i) The Issuer of the Loan submits this binding Proposal to conclude a Contract for a Mortgage Loan (the Proposal) electronically in the Website http://www.savy.lt / gosavy.com (the Website) which is administered by “Bendras finansavimas”UAB, company code: 303259527, registered office address: Vokiečių str. 20, Vilnius, 01130, Lithuania (the Organizer);
(ii) This Contract for a commercial Mortgage Loan (the Contract) is a multilateral transaction which consists of this Proposal and the Application which jointly constitute the Special Terms of the Loan Contract (Special Terms) and the General Terms of the commercial Mortgage Loan published in the Website, including the amendments and supplements thereto, which are applicable to all Parties to this Contract (General Terms);
(iii) The Recipient of the Loan secures his/her liabilities under this Contract by the mortgage of a real estate item (the Object of Mortgage) in line with the terms and procedure established therein;
(iv) The Issuer of the Loan has registered himself/herself in the Website, agreed with the Contract for Usage, confirmed it and undertakes to comply with the terms thereof. The Contract for Usage is applicable to this Loan Contract;
(v) This Proposal is intended for the system of the Website operating on the principle of an Auction wherein the persons, who are registered in the Website and wish to lend money (the Lender(s)) shall accept the Application (Offer) and submit a proposal to invest in the Application in accordance with the terms stipulated therein (the Proposal) and in such a manner conclude a Loan Contract with the Recipient of the Loan (the Auction);
(vi) The winners of the Auction shall be the Lenders who shall be the first ones to submit their Proposal compared to other Lenders until the amount of the Application which the Recipient of the Loan wishes to borrow (the amount of the Loan) is completed;
(vii) This Contract shall be concluded by way of an Auction and shall be considered automatically concluded between the Recipient of the Loan and the Lender(s) who has (have) won the Auction as of the moment of the end of the Auction. The Auction shall be successfully completed when the Proposals comply with the Application (coincide with the period of the Loan, the Interest and the amount of the Loan) or when the Recipient of the Loan agrees with a smaller amount of the Loan on the Organizer’s proposal;
(viii) The Lender shall confirm electronically this Application and the General Terms which constitute one contract and are incorporated in this Proposal with reference to them in the Website;
(ix) The actions performed by the Lender in the Website (confirmed by the Lender clicking the “I agree” button, creating the consumer’s Paysera account and granting an authorization) shall be considered the signature of the Lender having the legal power established in article 8(1) of the Law on Electronic Signature, whereas the Proposal and the General Terms confirmed by these actions shall be considered one original document drawn up in a written form and shall entail the same legal consequences as a written Proposal and the General Terms confirmed by the signature of the Lender.

Name and surname, date of birth: _______, _______________, submits the following Proposal (Acceptance) for a Loan:

SPECIAL TERMS OF THE PROPOSAL FOR A LOAN:

1. SUBJECT AND MATERIAL TERMS OF THE PROPOSAL

1.1. The Lender submits the following binding Proposal for a Loan for the purpose to conclude a Loan Contract with the Recipient of the Loan registered in the Website under the Application for a Loan confirmed by the Recipient of the Loan after the Recipient of the Loan secures his/her obligations under this Contract by Mortgage:

Number of the Offer (Application) _______
Amount to be invested _______
Recipient of the Loan [Name and surname]
Target Loan Amount _______
Minimum Loan Amount _______
Period of repayment of the Loan _______
Obligation fee _______%
Interest of the Loan _______%
Method of depreciation [Annuity method] or [method of repaying the Loan in the end]
Purpose of the Loan _______
Ratio of the debt and mortgaged property in percent _______%
DSCR ratio _______%
Loan disbursement cut-off date Within 90 days from the day of beginning of the auction.
Terms of Loan disbursement _______
Late payment _______%
Penalty interest _______%

Object of Mortgage (hereinafter also referred to as the Real estate Item):

Real estate Item / 1
[Type of the Real Estate Item, unique number [unique No.].
Address: [address]
Area of the land lot: [area] ha.
Purpose: [e.g. other],
manner of usage: [residential territories],
nature of usage: [construction of low-rise residential houses],
cadastre address: [0000/0000:0 rural c. s. (cadastre site)].
Built-up territory: [XX] ha.

Real estate Item / 2
[Type of the Real Estate Item under RPR, unique number [unique No.].
Apartment / Premises – Apartment, unique number:
Address: []
Description: [ ]
Purpose: [ ]
Completion of construction, year: [ ].
Total area: [ ]
Building in which the apartment is located: [ ]


Issuer of the pledge

Owner of the Real Estate Item:
[NAME AND SURNAME / TITLE]
Mandatory insurance of the mortgaged Real Estate Item _____
Other measures securing the fulfillment of the Obligation (warranty, security, etc.) _____

1.1. The Lender freely disposes of the Right of claim arising from this Proposal to the Recipient of the Loan under this Loan Contract in line with the terms and procedure established by the Contract for Usage.

1.2. The Lender may use the automatic investment tool in the Website in line with the terms and procedure established by the Contract for Usage.

1.3. The schedule of repayment of the Loan, which shall be generated in the Website after the end of the Auction and which shall stipulate the payments to be made by the Recipient of the Loan and the periods thereof, shall constitute an integral part of the Loan.

1.4. Having deducted the applicable fees, the Organizer shall transfer the amount of the Loan to the Consumer’s bank account of the Recipient of the Loan on the day of disbursement of the Loan but only after the Recipient of the Loan fulfills all conditions requested by the Organizer and stipulated in article 4 of the General Terms as well as after the Organizer ascertains that the Recipient of the Loan meets the said conditions.

1.5. The Recipient of the Loan shall have the right to withdraw the Application until the beginning of the Auction, i.e. the moment the first Proposal for Loan is submitted during the Auction. The Application may be withdrawn at any other moment and the Auction in progress may be terminated with the consent of the Organizer only.

1.6. If there are no enough Proposals for Loan submitted to lend the whole amount of the Loan to the Recipient of the Loan when the Auction is over, this Application shall not become mandatory to the Organizer or the Recipients of the Loan and shall cease to be valid, unless the Recipient of the Loan agrees with a smaller amount of the Loan and / or higher Interest.

1.7. The Recipient of the Loan undertakes to use the Loan for the purpose which he/she has specified in the Application only.

1.8. The Organizer shall have the right to request in writing the Recipient of the Loan to prove that he/she has used the amount of the Loan for the purpose specified in the Application. Having received such a written request, the Recipient of the Loan must submit the documents proving proper usage of the Loan to the Organizer. If the Recipient of the Loan fails to submit the evidence and / or the Recipient of the Loan uses the amount of the Loan for a different purpose, this shall be considereda Violation and the Organizer shall have the right to apply the measures stipulated in article 10 of the General Terms.

1.9. The concepts used in the Proposal (Acceptance) shall be understood and must be interpreted the way they are defined in the General Terms of the Contract unless explicitly stipulated otherwise in the Proposal.

2. GRANTING THE AUTHORIZATION TO THE ORGANIZER

2.1. In order to effectively administer the obligations of the Recipient of the Loan under the Loan Contract, the Lender grants the authorization to the Organizer to negotiate on behalf of the Lender, amend and sign the Loan Contract with the Recipient of the Loan on behalf of the Lender and modify the schedule of repayment of the Loan in case of at least one of the following conditions:

2.1.1. the period of the Loan Contract and / or the schedule of repayment of the Loan is modified once upon the request of the Recipient of the Loan by postponing the payment of the main installments of the Loan up to 6 (six) months provided that the amount of the Loan is not changed and the interest is not reduced at the time of postponement as well as of the Recipient of the Loan pays the Penalty for Delay (if he/she has delayed any payments), the Obligation Fee, the Interest and other established payments properly to the Lender;

2.1.2. The schedule of repayment of the Loan is modified upon the request of the Recipient of the Loan by arranging a new schedule of repayment of the Loan for a period not longer than 60 months from the initial day of conclusion of the Loan Contract provided that the amount of the Loan is not changed and the Interest or the Obligation Fee is not reduced;

2.1.3. Modification of the Interest of the Loan provided that it is not reduced.

2.2. The Lender grants the authorization to the Organizer to terminate the Loan Contract with the Recipient of the Loan on behalf of the Lender in the cases stipulated in the Contract for Usage and in the General Terms.

2.3. Such authorization of the Organizer by the Lender shall come into force as of the day this Proposal for the Loan is signed electronically and shall be in force until the fulfillment of all obligations of the Recipient of the Loan under a respective Loan Contract.

2.4. The Lender declares that he/she does not object to the fact that the Organizer shall be stated as the Creditor in the Contract for Contractual Mortgage concluded with the Recipient of the Loan (Mortgage) and shall assume all rights and duties of the creditor in line with the terms thereof as of the moment of conclusion of the contract.

3. AUTOMATIC TRANSFER OF THE RIGHT OF CLAIM TO THE ORGANIZER

3.1. In the cases stipulated in the General Terms, Application, Proposal and / or the Contract for Usage of the Website (if any confirmation and / or warranty of section 8 of the General Terms issued by the Recipient of the Loan becomes inaccurate or incorrect in its essence during the period of the Loan Contract due to any circumstances; or (iii) a circumstance due to which the capacity of the Recipient of the Loan to properly fulfill the obligations assumed under the Financial Documents in line with the terms and procedure of section 9 of the General Terms is or may be encumbered; or (iv) a Violation or a Potential Violation may occur in line with the terms and procedure of section 10 of the General Terms; or (v) an Encumbrance due to the mortgaged Real Estate Item (object of Mortgage) or a measure securing the fulfillment of the Obligation is determined, or in any other cases) when the Organizer terminates the Loan Contract or applies any other measures of impact stipulated in section 10 of the General Terms in line with the terms and procedure thereof, the Right of claim of the Lender, which he/she has against the Recipient of the Loan, shall be automatically transferred to the Organizer.

3.2. Automatic transfer of the Right of claim of the Lender (with the right to transfer it to any third party) shall take place when the Organizer sends a notification about automatic taking over of the right of claim to the Lender at the e-mail address stated in the data base of the Website. The Organizer shall send a notification about termination of the Loan Contract and/or transfer of the right of claim to the Recipient of the Loan at the e-mail address stated in the data base of the Website or at the last known address of the place of residence of the Recipient of the Loan. Such a notification shall be considered duly delivered to the Recipient of the Loan as of the moment of sending it.

3.3. Automatic transfer of the Right of claim shall be applicable together with a deferred payment and the Organizer shall repay the funds of the Right of claim to the Lender which it shall recover during exaction of debts after the Organizer deducts the fees stipulated in the rates of the Services as well as the funds owed to the Organizer under the Contract for Usage (Administration fee, any fines, Penalties for Delay, etc.).

3.4. The purpose of such transfer of the right of claim is to provide the Organizer with a legal possibility to secure the interests of the Lender and to perform all actions that are necessary in order for the Recipient to fulfill the obligations undertaken by him/her under the Loan Contract as well as to perform forced exaction from the mortgaged Real Estate Item (the Object of Mortgage) under the Mortgage.

3.5. The Lender confirms that, in case a transfer of the right of claim takes place, the Organizer shall have to sign all necessary documents, perform all proceedings, including but not limited to submission of a claim and a counterclaim, cancellation of a claim that has already been made and acknowledgement thereof, conclusion of a peaceful settlement agreement, reception of an execution letter, submission thereof for execution, submission of a request regarding renewal of the proceedings, addressing any institutions and bodies, submission of requests, reception of documents under the requests submitted, addressing debt exaction companies regarding fulfillment of obligations, negotiating with the Recipient of the Loan, etc., on behalf of the Organizer (including an unlimited right to authorize any third party).

3.6. The Organizer shall perform forced exaction from the mortgaged Real Estate Item (the Object of Mortgage) under the Mortgage and shall perform all related actions in line with the terms and procedures stipulated in the Contract.

3.7. Having taken over the Right of claim, the Organizer shall act as a reasonable creditor and shall make every effort attempting to recover the debt; however, it shall not be liable before the Lender individually, jointly or subsidiary with the Recipient of the Loan for successful recovery of the debt, fulfillment of the obligations of the Recipient of the Loan secured by the Mortgage and for the scope of such success. The Lender agrees with and confirms that.

3.8. The Organizer shall have the right to freely dispose of the creditor’s rights under this Contract and the Mortgage (the Contract for Contractual Mortgage) at one’s own discretion as well as to use all documents and information regarding the Recipient of the Loan available to the Organizer.

3.9. The Lender confirms that such transfer of the Right of claim is of indefinite duration and irrevocable.

3.10. Any debt exaction costs (notary’s, lawyer’s, bailiff’s, auction, court, debt exaction company, etc.) shall be exacted from the Recipient of the Loan by the Organizer in accordance with the general civil procedure.
I have read and agree with the whole text. I sign and confirm this Proposal (Acceptance) electronically.

Name, surname E
Date of birth E
Date of signing E
Time of signing E
IP address E
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