FINANCING CONTRACT

Upon acceptance of the terms of conditions of the LOI, the Lender and Borrower would go into a Financing Contract which binds both parties together under the agreed terms and conditions. The Borrower would need to request for the disbursements of funds after achieving the relevant milestone. The Lender would engage the services of an independent Cost Consultant to verify site progress as well as actual invoices incurred and paid by the Borrower. The Lender would disburse funds against the Claim Report prepared by the Cost Consultant. The Lender would collect interest expenses for funds being disbursed to the Borrow till the completion of the project.