Aurora

Name	Size	Permissions	Actions
..	-	-	-

Envelope-to: gloria@homs.co.ke,
 mnhgure@homs.co.ke,
 liban@homs.co.ke
Delivery-date: Mon, 24 Jun 2019 05:15:56 -0600
From: "Abdalla Ngovi (Corporate & Investment Banking)"
	<abdalla.ngovi@dibkenya.co.ke>
To: "gloria@homs.co.ke" <gloria@homs.co.ke>, "mnhgure@homs.co.ke"
	<mnhgure@homs.co.ke>
CC: "liban@homs.co.ke" <liban@homs.co.ke>, "mnhgure@homs.co.ke"
	<mnhgure@homs.co.ke>, "Samuel Warui (Corporate & Investment Banking)"
	<samuel.warui@dibkenya.co.ke>
Subject: FW: BAYSIDE LIMITED - PENDING ITEMS
Thread-Topic: BAYSIDE LIMITED - PENDING ITEMS
Thread-Index: AdUnR9bYv74TPPK3RpSLYB49iY+UIwDJnuNw
Date: Mon, 24 Jun 2019 11:15:27 +0000
Message-ID:
 <AM6PR10MB2855FC62ED9A47AA85C5D1EADFE00@AM6PR10MB2855.EURPRD10.PROD.OUTLOOK.COM>
References:
 <AM4PR1001MB1441E03EC17AF881950D81BABEE40@AM4PR1001MB1441.EURPRD10.PROD.OUTLOOK.COM>
In-Reply-To:
 <AM4PR1001MB1441E03EC17AF881950D81BABEE40@AM4PR1001MB1441.EURPRD10.PROD.OUTLOOK.COM>
Accept-Language: en-US
Content-Language: en-US
received-spf: None (protection.outlook.com: dibkenya.co.ke does not designate
 permitted sender hosts)
Content-Type: multipart/alternative;
	boundary="_000_AM6PR10MB2855FC62ED9A47AA85C5D1EADFE00AM6PR10MB2855EURP_"
MIME-Version: 1.0
X-MS-Exchange-CrossTenant-Network-Message-Id: e7ec1e71-3d9b-4b7e-5557-08d6f89542c2
X-MS-Exchange-CrossTenant-originalarrivaltime: 24 Jun 2019 11:15:27.1632
 (UTC)
X-MS-Exchange-CrossTenant-fromentityheader: Hosted
X-MS-Exchange-CrossTenant-id: 66f8dcde-a93a-450a-bc3f-c4b67f167881
X-MS-Exchange-CrossTenant-mailboxtype: HOSTED
X-MS-Exchange-CrossTenant-userprincipalname: abdalla.ngovi@dibkenya.co.ke
X-MS-Exchange-Transport-CrossTenantHeadersStamped: AM6PR10MB2006
X-Spam-Status: No, score=0.5
X-Spam-Score: 5
X-Spam-Bar: /
X-Ham-Report: Spam detection software, running on the system "just74.justhost.com",
 has NOT identified this incoming email as spam. The original
 message has been attached to this so you can view it or label
 similar future email. If you have any questions, see
 root\@localhost for details.
 
 Content preview: Kindly note and address the following pending approved conditions.
 1. Valuation report - Valuer to provide the search certificate, current status
 and estimated future values Update: Main search delivered but with no search.
 
 
 Content analysis details: (0.5 points, 5.0 required)
 
 pts rule name description
 ---- ---------------------- --------------------------------------------------
 -0.0 SPF_HELO_PASS SPF: HELO matches SPF record
 -0.5 SPF_PASS SPF: sender matches SPF record
 1.5 SUBJ_ALL_CAPS Subject is all capitals
 0.0 HTML_MESSAGE BODY: HTML included in message
 0.0 T_KAM_HTML_FONT_INVALID BODY: Test for Invalidly Named or
 Formatted Colors in HTML
 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily
 valid
 -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature
 -0.6 AWL AWL: Adjusted score from AWL reputation of From: address
X-Spam-Flag: NO

--_000_AM6PR10MB2855FC62ED9A47AA85C5D1EADFE00AM6PR10MB2855EURP_
Content-Type: text/plain; charset="us-ascii"
Content-Transfer-Encoding: quoted-printable

Kindly note and address the following pending approved conditions.

1.  Valuation report - Valuer to provide the search certificate, current =
status and estimated future values
Update: Main search delivered but with no search.

1.  All Risks Insurance Policy with an insurance company in the Bank's pr=
eferred panel of Kshs.739,263,340.00
Update: We have received All Risk Policy from SAVA Bulders for kes. 144,000=
,000.00 kindly have it revised.

1.  Up to date receipts evidencing fully settled land rates and land rent=
.
Update: Item still pending; Once you have paid , please also  apply for cle=
arance certificate from NCC.

1.  Prior to disbursement, the customer shall avail additional equity of =
Kenya Shillings Seventy Five Million (Kshs.75,000,000.00) Only which will b=
e held in an escrow account at DIB Bank Kenya Limited:
  2.  Full deployment into the project of the additional equity of Kenya Sh=
illings Seventy Five Million (Kshs.75,000,000.00) Only held in the Bank's e=
scrow account prior to drawdown of Bank's facility.
Update: Invoices totalling to kes. 48.0 Million have been  availed. Kes 27.=
0 still not evidenced, kindly provide.

1.  (NEMA) license capturing the correct number of project floors (valuat=
ion states 15 ,Nema states 12).
Update: Item still pending

1.  A letter from the National Construction Authority (NCA) explaining wh=
y their letter dated 24th October, 2016, cites plot L.R. No. 1761 instead o=
f L.R. No. 1/761; or a revised certificate of compliance capturing the corr=
ect Land Reference Number.
Update: Item still pending.

1.  The Company's directors shall undertake to meet any cost overruns dur=
ing construction of the project.
Update: we will share a resolution template to be adopted on your letter he=
ad.

1.  Occupation permit within reasonable time but not exceeding Two (2) Mo=
nths upon determination of satisfactory project completion by a Bank approv=
ed Valuer; or issuance of certificate of practical completion.
Update: Post drawdown condition to be met.

1.  Evidencing of the obligor's payment of Kenya Shillings Twenty Three M=
illion (Kshs.23,000,000.00) Only owed to Kingsley Construction Limited and/=
or mutually agreed duly executed agreement with clear spelt out terms of pa=
yment
Update: Item still pending

1.  Disbursement shall be in Three (3) Tranches based on Architect's Cert=
ificate of completion
Update: To be provided during drawdown stage

1.  Duly executed contracts between Bayside Limited and all the service p=
rofessional team

Update: Item still pending

1.  Professional indemnities from all project consultants (Project Manage=
r, Quantity Surveyor and Architect) not in DIB Bank Kenya Limited's panel o=
f service providers.

Update: Item still pending

1.  Fresh sale agreements and/or an addendum clearly indicating DIB Bank =
Kenya Limited as the recipient account for the expected balance of the curr=
ent presales and future project sales.

Update: To be provided as and when a sale happens

1.  Their project lawyer to undertake to ensure that all the project sale=
s funds are directly banked in DIB Bank Kenya Limited project/escrow accoun=
t.

Update: Item still pending

1.  Their project lawyer to undertake to submit to the Bank all copies of=
 the sale contracts within Seven (7) Days after execution.

Update: To be provided as and when a sale happens

1.  Latest Tax Compliance Certificate

Update: Item still pending

1.  Copy of the Purchaser's self-assessment return from Kenya revenue Aut=
hority (KRA);

Update: Item still pending

CONFIDENTIALITY NOTICE: INFORMATION IN THIS MESSAGE IS INTENDED ONLY FOR TH=
E PERSONAL AND CONFIDENTIAL USE OF THE RECIPIENT (S) NAMED ABOVE. This mess=
age is privileged and confidential. If the reader of this message is not an=
 intended recipient or an agent responsible for delivering it to an intende=
d recipient, you are hereby notified that you have received this message in=
 error, and that any review, dissemination, distribution, or copying of thi=
s message is strictly prohibited. If you received this message in error, pl=
ease notify the sender immediately, delete the message and return any hard =
copy print-outs to the address above. DIB Bank Kenya Limited is neither lia=
ble for the proper and complete transmission of the information in this com=
munication nor any delay in its receipt.

--_000_AM6PR10MB2855FC62ED9A47AA85C5D1EADFE00AM6PR10MB2855EURP_
Content-Type: text/html; charset="us-ascii"
Content-Transfer-Encoding: quoted-printable

<html xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:o=3D"urn:schemas-micr=
osoft-com:office:office" xmlns:w=3D"urn:schemas-microsoft-com:office:word" =
xmlns:m=3D"http://schemas.microsoft.com/office/2004/12/omml" xmlns=3D"http:=
//www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dus-ascii"=
>
<meta name=3D"Generator" content=3D"Microsoft Word 15 (filtered medium)">
<style></style>
</head>
<body lang=3D"EN-GB" link=3D"#0563C1" vlink=3D"#954F72">
<div class=3D"WordSection1">
<o:p>&nbs=
p;</o:p>
<o:p>&nbs=
p;</o:p>
<o:p>&nbsp;</o:p>=

Kindly note and address =
the following pending approved conditions.<o:p></o:p>
<o:p>&nbsp;</o:p>=

<ol style=3D"margin-top:0cm" start=3D"1" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Valuation report &#8211;
Valuer to provide the search certificate, current status and esti=
mated future values<o:p></o:p></li></ol>
Update: Main search delivered but with no search.<o:p></o:p>=

<ol style=3D"margin-top:0cm" start=3D"2" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
All Risks Insurance Policy with an insurance company in the Bank&#821=
7;s preferred panel of
Kshs.739,263,340.00<o:p></o:p></li></o=
l>
Update: We have received All Risk Policy f=
rom SAVA Bulders for kes. 144,000,000.00 kindly have it revised.<o:p></o:p>=

<ol style=3D"margin-top:0cm" start=3D"3" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Up to date receipts evidencing fully settled land rates and land rent=
.<o:p></o:p></li></ol>
Update: Item still pendin=
g; Once you have paid , please also &nbsp;apply for clearance certificate f=
rom NCC.<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"4" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Prior to disbursement, the customer shall avail additional equity of
Kenya Shillings Seventy Five Million (Kshs.75,000,000.00) Only which=
 will be held in an escrow account at DIB Bank Kenya Limited:
<o:p></o:p></li><li class=3D"MsoListParagraph=
" style=3D"color:black;margin-left:0cm;mso-list:l1 level1 lfo3">
Full deployment into the project of the additional equity of
Kenya Shillings Seventy Five Million (Kshs.75,000,000.00) Only held =
in the Bank&#8217;s escrow account prior to drawdown of Bank&#8217;s facili=
ty.<o:p></o:p></li></ol>
Update: Invoices totallin=
g to kes. 48.0 Million have been &nbsp;availed. Kes 27.0 still not evidence=
d, kindly provide.<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"6" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"margin-right:.2pt;margin-left:0cm;m=
so-add-space:auto;text-align:justify;line-height:115%;mso-list:l1 level1 lf=
o3">
(NEMA) lice=
nse capturing the correct number of project floors (valuation states 15 =
,Nema states 12).<o:p></o:p></li></ol>

Update: Item=
 still pending<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"7" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"margin-right:.2pt;margin-left:0cm;m=
so-add-space:auto;text-align:justify;line-height:115%;mso-list:l1 level1 lf=
o3">
A letter fr=
om the National Construction Authority (NCA) explaining why their letter da=
ted 24th October, 2016, cites plot L.R. No. 1761 instead of L.R.=
 No. 1/761; or a revised certificate of compliance
 capturing the correct Land Reference Number. <o:p></o:p></li></ol>

Update: Item=
 still pending.<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"8" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
The Company&#8217;s directors shall undertake to meet any cost overru=
ns during construction of the project.<o:p></o:p></s=
pan></li></ol>
Update: we will share a r=
esolution template to be adopted on your letter head.<o:p></o:p>=

<ol style=3D"margin-top:0cm" start=3D"9" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Occupation permit within reasonable time but not exceeding Two (2) Mo=
nths upon determination of satisfactory project completion by a Bank approv=
ed Valuer; or issuance of certificate of practical
 completion.&nbsp; <o:p></o:p></li></ol>
Update: Post drawdown con=
dition to be met.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs=
p;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"10" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Evidencing of the obligor&#8217;s payment of
Kenya Shillings Twenty Three Million (Kshs.23,000,000.00) Only owed =
to Kingsley Construction Limited and/or mutually agreed duly executed agree=
ment with clear spelt out terms of payment<o:p></o:p=
></li></ol>
Update: Item still pendin=
g<o:p></o:p></=
p>
<ol style=3D"margin-top:0cm" start=3D"11" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Disbursement shall be in
Three (3) Tranches based on Architect&#8217;s Certificate of complet=
ion<o:p></o:p></li></ol>
Update: To be provided du=
ring drawdown stage<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"12" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Duly executed contracts between Bayside Limited and all the service p=
rofessional team<o:p></o:p></li></ol>
Update: Item still pending<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"13" type=3D"1">
<li class=3D"MsoListParagraphCxSpMiddle" style=3D"margin-right:4.05pt;margi=
n-left:0cm;mso-add-space:auto;text-align:justify;mso-list:l1 level1 lfo3">
Professiona=
l indemnities from all project consultants (Project Manager, Quantity Surve=
yor and Architect) not in DIB Bank Kenya Limited&#8217;s panel of service p=
roviders.<o:p></o:p></li></ol>
Update: Item still pending<o:p></o:p>
<ol style=3D"margin-top:0cm" start=3D"14" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Fresh sale agreements and/or an addendum clearly indicating DIB Bank =
Kenya Limited as the recipient account for the expected balance of the curr=
ent presales and future project sales.<o:p></o:p></s=
pan></li></ol>
Update: To be provided as and when a sale happe=
ns<o:p></o:p><=
/p>
<o:p>&nbs=
p;</o:p>
<ol style=3D"margin-top:0cm" start=3D"15" type=3D"1">
<li class=3D"MsoListParagraphCxSpFirst" style=3D"margin-right:4.05pt;margin=
-left:0cm;mso-add-space:auto;text-align:justify;mso-list:l1 level1 lfo3">
Their proje=
ct lawyer to undertake to ensure that all the project sales funds are direc=
tly banked in DIB Bank Kenya Limited project/escrow account.<o:p></o:p></sp=
an></li></ol>
Update: Item still pending<o:p></o:p>

<o:p>&nbsp;</o:p>
<ol style=3D"margin-top:0cm" start=3D"16" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Their project lawyer to undertake to submit to the Bank all copies of=
 the sale contracts within
Seven (7) Days after execution.<o:p></o:p></s=
pan></li></ol>
Update: To be provided as and when a sale happe=
ns<o:p></o:p><=
/p>
<o:p>&nbsp;</o:p>
<ol style=3D"margin-top:0cm" start=3D"17" type=3D"1">
<li class=3D"MsoListParagraph" style=3D"color:black;margin-left:0cm;mso-lis=
t:l1 level1 lfo3">
Latest Tax Compliance Certificate<o:p></o:p></=
span></li></ol>
Update: Item still pending<o:p></o:p>
<o:p>&nbs=
p;</o:p>
<ol style=3D"margin-top:0cm" start=3D"18" type=3D"1">
<li class=3D"MsoListParagraphCxSpFirst" style=3D"margin-left:0cm;mso-add-sp=
ace:auto;text-align:justify;mso-list:l1 level1 lfo3">
Copy of the=
 Purchaser&#8217;s self-assessment return from Kenya revenue Authority (KRA=
);<o:p></o:p></li></ol>
Update: Item still pending<o:p></o:p>
<o:p>&nbsp;</o:p>=

<o:p>&nbsp;</o:p>=

<o:p>&nbsp;</o:p>
</div>
CONFIDENTIALITY NOTICE: INFORMATION IN THIS MESSAGE IS INTENDED ONLY FOR TH=
E PERSONAL AND CONFIDENTIAL USE OF THE RECIPIENT (S) NAMED ABOVE. This mess=
age is privileged and confidential. If the reader of this message is not an=
 intended recipient or an agent
 responsible for delivering it to an intended recipient, you are hereby not=
ified that you have received this message in error, and that any review, di=
ssemination, distribution, or copying of this message is strictly prohibite=
d. If you received this message
 in error, please notify the sender immediately, delete the message and ret=
urn any hard copy print-outs to the address above. DIB Bank Kenya Limited i=
s neither liable for the proper and complete transmission of the informatio=
n in this communication nor any
 delay in its receipt.
</body>
</html>

--_000_AM6PR10MB2855FC62ED9A47AA85C5D1EADFE00AM6PR10MB2855EURP_--

Upload File

New Folder

New File

Add WordPress Admin

cPanel Password Reset

Edit: 1561374956.M732323P972544.just74.justhost.com,S=30600,W=31227:2,S