Հանրային ծառայողներին հիփոթեքային վարկեր

Arno Babajanyan 42/5

Acharyan 53

Lending conditions

Loan currency	AMD
Loan purpose	Acquisition by ML Mining LLC of apartments and parking lots (hereinafter real estate when referred to jointly or severally) under development in residential blocks at the address 42/5 Arno Babajanyan, Yerevan, Armenia
Minimum loan amount	Not defined
Maximum loan amount	1. For an apartment being acquired - AMD 150,000,000 (no more than 90% of the value of the apartment being acquired) 2. For a parking lot – AMD 2,800,000
Annual interest rate fixed/fixed (variable) *	1. 13% in case of up to AMD 35,0 million (including) 2. 13.6% in case of AMD 35.1 and above
Annual interest rate floating**	1. SR+2% for up to AMD 35,0 million (including) 2. SR+2.5% in case of AMD 35,1 and above
Actual annual interest rate	12.1% - 14.5%
Minimum timeframe	10 years
Maximum timeframe	20 years
Loan and interest sum redemptions	Monthly annuity payments
Minimum prepayment from apartment purchase value	10%
Minimum prepayment from parking lot value	20%

REQUIREMENTS TO THE BORROWER
Borrower’s status	An individual indicated in the offer for concluding an agreement on the acquisition of the right to purchase real estate (a beneficiary or a family member thereof) as part of the programme proposing apartments to public servants provided the age limit does not exceed 65 (up to 66) until the timeline for full loan redemption
Requirements for the Co-Borrower	Relatives of the Borrower, aged 21 and above (individuals willing to participate in financing the apartment purchase, including through a mortgage loan, shall be deemed a relative) may be co-borrowers provided the age limit does not exceed 60 (up to 61) upon loan issuance.
General principle for evaluating the customer’s credit-worthiness	The maximum ratio of general debt payoffs and maximum net revenues shall not exceed 60
Other requirements for the Borrower and Co-Borrower	Available mobile phone number and email address

DECISION-MAKING TIMEFRAMES, FACTORS
Decision-making timeframe	4-7 days
Decision-making notification timeframe	1 day
Issuance timeframe	1. In the event of lump sum issuance, the loan shall be issued no later than on the 7th business day of concluding the real estate purchase agreement (provided the purchase and pledge certificates are submitted to the Bank) 2. In case of issuance in installments: Phase 1: no later than on the 7th day of the conclusion of the real estate purchase agreement (provided the purchase and pledge certificates are submitted to the Bank) Phase 2: no later than on the 15th day of receiving the Bank's notice on the completed building's state registration from the Urban Development Committee
Positive decision factors	compliance of the crediting terms and submission of the required documents
Credit rejection factors	Borrower's/Co-Borrower's negative creditng history, incomplete document submission, evaluation of the Customer's credit worthiness as insufficient

PENALTIES, FINES
In the event of the Borrower's failure to discharge liabilities	24% per annum for an overdue loan
Penalty for an overdue interest sum	48% per annum
Penalty for early loan redemption	Not defined

Loans shall be issued by way of the implementation of Bank-approved model agreements. For the acqusition of a parking lot, and a parking lot in case of pledging, separate loand and pledge agreements shall be signed. A collateral agreement (agreements) shall be authenticated by a notary public. The pledge to the right to the purchase of an apartment (parking lot), the rights to ownership and the Bank’s right to pledge after the completion of development activities are subject to state registration by the customer and submission to the Bank.

The Borrower shall, within 60 days of drafting the development completion act, submit to the Bank the development and pledge certificates of the 100% complete real estate. In the event of the non-submission of the development and pledge certificates of the 100% complete real estate, the loan terms shall be reviewed within a 10-day period following the 60 calendar days and the interest rate prescribed by the agreement shall be raised by 3% (except for the cases prescribed by the Bank’s internal regulations).

The loan aimed at the acquisition of a parking lot (purchase of a parking lot) shall be issued only in case of the simultaneous acquisition of an apartment (right to the purchase of an apartment) as part of the given agreement.

*The interest rates of loans isued at a fixed (verifiable) interest rate shall be revised starting from the 37th months of the effective term of the loan agreement in case of a change in the settlement rate (SR). The interest rate of a loan may not increase or decrase by more than 2.5 interest point against the interest rate set upon the issuance of the loan during the effective term of the loan agreement.

The value of the loan Settlement Rate (SR) equals the SR value applicable at the Bank upon decision-making on the loan issue.

**The Settlement Rate (SR) shall be published on the Bank's website (www.ardshinbank.am) on the 1st day of February every year. The interest rates with respect to the concluded agreement shall be reviewed one month after the change in the SR (unless the notice provides for a later date) in case of a change in the Settlement Rate. Interest rates shall vary, i,e. – increase or decrease, commansurately with the change in the SR.

The loan interest rate may not increase or decrease by more than 2.5 interest point upon the issuance of the loan during the effective term of the loan agreement.