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Envelope-to: gloria@homs.co.ke,
 mnhgure@homs.co.ke
Delivery-date: Tue, 25 Jun 2019 01:33:21 -0600
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To: "gloria@homs.co.ke" <gloria@homs.co.ke>, 
	"mnhgure@homs.co.ke" <mnhgure@homs.co.ke>
From: liban <liban@homs.co.ke>
Subject: FW: BAYSIDE LIMITED - PENDING ITEMS
Date: Tue, 25 Jun 2019 10:33:22 +0300
Importance: normal
Thread-Topic: BAYSIDE LIMITED - PENDING ITEMS
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References:
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Sent from Mail for Windows 10

From: Abdalla Ngovi (Corporate & Investment Banking)
Sent: Monday, June 24, 2019 2:15 PM
To: gloria@homs.co.ke; mnhgure@homs.co.ke
Cc: liban@homs.co.ke; mnhgure@homs.co.ke; Samuel Warui (Corporate & Investm=
ent Banking)
Subject: FW: BAYSIDE LIMITED - PENDING ITEMS

Kindly note and address the following pending approved conditions.

1. Valuation report =E2=80=93 Valuer to provide the search certificate, cur=
rent status and estimated future values
Update: Main search delivered but with no search.
2. All Risks Insurance Policy with an insurance company in the Bank=E2=80=
=99s preferred 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.
3. Up to date receipts evidencing fully settled land rates and land rent.
      Update: Item still pending; Once you have paid , please also =C2=A0ap=
ply for clearance certificate from NCC.
4. Prior to disbursement, the customer shall avail additional equity of Ken=
ya Shillings Seventy Five Million (Kshs.75,000,000.00) Only which will be h=
eld in an escrow account at DIB Bank Kenya Limited:=20
5. Full deployment into the project of the additional equity of Kenya Shill=
ings Seventy Five Million (Kshs.75,000,000.00) Only held in the Bank=E2=80=
=99s escrow account prior to drawdown of Bank=E2=80=99s facility.
      Update: Invoices totalling to kes. 48.0 Million have been =C2=A0avail=
ed. Kes 27.0 still not evidenced, kindly provide.
6. (NEMA) license capturing the correct number of project floors (valuation=
 states 15 ,Nema states 12).
      Update: Item still pending
7. A letter from the National Construction Authority (NCA) explaining why t=
heir letter dated 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.=20
      Update: Item still pending.
8. The Company=E2=80=99s directors shall undertake to meet any cost overrun=
s during construction of the project.
Update: we will share a resolution template to be adopted on your letter he=
ad.
9. Occupation permit within reasonable time but not exceeding Two (2) Month=
s upon determination of satisfactory project completion by a Bank approved =
Valuer; or issuance of certificate of practical completion.=C2=A0=20
      Update: Post drawdown condition to be met.=C2=A0=C2=A0=C2=A0=C2=A0=C2=
=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=C2=A0=
=C2=A0=20
10. Evidencing of the obligor=E2=80=99s payment of Kenya Shillings Twenty T=
hree Million (Kshs.23,000,000.00) Only owed to Kingsley Construction Limite=
d and/or mutually agreed duly executed agreement with clear spelt out terms=
 of payment
      Update: Item still pending
11. Disbursement shall be in Three (3) Tranches based on Architect=E2=80=99=
s Certificate of completion
      Update: To be provided during drawdown stage
12. Duly executed contracts between Bayside Limited and all the service pro=
fessional team
Update: Item still pending
13. Professional indemnities from all project consultants (Project Manager,=
 Quantity Surveyor and Architect) not in DIB Bank Kenya Limited=E2=80=99s p=
anel of service providers.
Update: Item still pending
14. Fresh sale agreements and/or an addendum clearly indicating DIB Bank Ke=
nya Limited as the recipient account for the expected balance of the curren=
t presales and future project sales.
Update: To be provided as and when a sale happens

15. Their project lawyer to undertake to ensure that all the project sales =
funds are directly banked in DIB Bank Kenya Limited project/escrow account.
Update: Item still pending

16. Their project lawyer to undertake to submit to the Bank all copies of t=
he sale contracts within Seven (7) Days after execution.
Update: To be provided as and when a sale happens

17. Latest Tax Compliance Certificate
Update: Item still pending

18. Copy of the Purchaser=E2=80=99s self-assessment return from Kenya reven=
ue Authority (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.=20

--_A1E87BB0-E512-4D13-898E-BF44213A9CD0_
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<html xmlns:o=3D"urn:schemas-microsoft-com:office:office" xmlns:w=3D"urn:sc=
hemas-microsoft-com:office:word" xmlns:m=3D"http://schemas.microsoft.com/of=
fice/2004/12/omml" xmlns=3D"http://www.w3.org/TR/REC-html40"><head><meta ht=
tp-equiv=3DContent-Type content=3D"text/html; charset=3Dutf-8"><meta name=
=3DGenerator content=3D"Microsoft Word 15 (filtered medium)"><style></style></head><body lang=3DEN-US link=3Dblue vlink=3D"#954F72"><div cla=
ss=3DWordSection1><o:p>&nbsp;</o:p><o:p>&nbsp;</o:p>Sent from <a href=3D"https:=
//go.microsoft.com/fwlink/?LinkId=3D550986">Mail</a> for Windows 10<o:p>&nbsp;</o:p><div style=3D'mso-element:para-border=
-div;border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'>=
From: <a href=
=3D"mailto:abdalla.ngovi@dibkenya.co.ke">Abdalla Ngovi (Corporate &amp; Inv=
estment Banking)</a> Sent: Monday, June 24, 2019 2:15 PM To=
: <a href=3D"mailto:gloria@homs.co.ke">gloria@homs.co.ke</a>; <a href=
=3D"mailto:mnhgure@homs.co.ke">mnhgure@homs.co.ke</a> Cc: <a href=
=3D"mailto:liban@homs.co.ke">liban@homs.co.ke</a>; <a href=3D"mailto:mnhgur=
e@homs.co.ke">mnhgure@homs.co.ke</a>; <a href=3D"mailto:samuel.warui@dibken=
ya.co.ke">Samuel Warui (Corporate &amp; Investment Banking)</a> Subje=
ct: FW: BAYSIDE LIMITED - PENDING ITEMS</div><=
o:p>&nbsp;</o:p><o:p>&nbsp;</o:=
p><o:p>&nbsp;</o:p></spa=
n><o:p>&nbsp;</o:p>Kindly note a=
nd address the following pending approved conditions.<o:p></o:p>=
<o:p>&nbsp;</o:p><ol style=3D'margin-top:0in' star=
t=3D1 type=3D1><li class=3DMsoListParagraph style=3D'color:black;margin-lef=
t:0in;mso-list:l0 level1 lfo1'>Valuation report =E2=80=93 Valuer to provid=
e the search certificate, current status and estimated 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:0in' start=3D2 type=3D1><li class=3DMsoList=
Paragraph style=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'><sp=
an lang=3DEN-GB style=3D'font-family:"Neo Sans Std";color:windowtext'>All R=
isks Insurance Policy with an insurance company in the Bank=E2=80=99s prefe=
rred panel of Kshs.739,263,340.00<o:p></o:p></li></ol>Upda=
te: We have received All Risk Policy from SAVA Bulders for kes. 144,000,000=
.00 kindly have it revised.<o:p></o:p><ol style=3D'margin-to=
p:0in' start=3D3 type=3D1><li class=3DMsoListParagraph style=3D'color:black=
;margin-left:0in;mso-list:l0 level1 lfo1'>Up to date receipts evidencing full=
y settled land rates and land rent.<o:p></o:p></li></ol>Update: Item still pending; Once you have paid , please also &nbsp;=
apply for clearance certificate from NCC.<o:p></o:p><ol styl=
e=3D'margin-top:0in' start=3D4 type=3D1><li class=3DMsoListParagraph style=
=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'>Prior to disbursemen=
t, 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=3DMsoListParagraph=
 style=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'>Full deploym=
ent into the project of the additional equity of Kenya Shillings Seventy=
 Five Million (Kshs.75,000,000.00) Only held in the Bank=E2=80=99s escr=
ow account prior to drawdown of Bank=E2=80=99s facility.<o:p></o:p></li></ol><=
p class=3DMsoNormal style=3D'text-indent:.5in'>Update: Invoices totalling to kes. 48.0 Mil=
lion have been &nbsp;availed. Kes 27.0 still not evidenced, kindly provide.=
<o:p></o:p><ol style=3D'margin-top:0in' start=3D6 type=3D1><=
li class=3DMsoListParagraph style=3D'margin-right:.2pt;margin-left:0in;mso-=
add-space:auto;text-align:justify;text-justify:inter-ideograph;line-height:=
115%;mso-list:l0 level1 lfo1'>(NEMA) license capturing the correct number of project floors (<=
i>valuation states 15 ,Nema states 12).<o:p></o:p></li></ol><=
span lang=3DEN-GB style=3D'font-size:12.0pt;line-height:115%;color:red'>Upd=
ate: Item still pending<o:p></o:p><ol style=3D'margin-top:0i=
n' start=3D7 type=3D1><li class=3DMsoListParagraph style=3D'margin-right:.2=
pt;margin-left:0in;mso-add-space:auto;text-align:justify;text-justify:inter=
-ideograph;line-height:115%;mso-list:l0 level1 lfo1'>A letter from the National Construction A=
uthority (NCA) explaining why their letter dated 24th October, 2=
016, cites plot L.R. No. 1761 instead of L.R. No. 1/761; or a revised certi=
ficate of compliance capturing the correct Land Reference Number. <o:p></o:=
p></li></ol>Update: Item still pending.<o:p></o:p><o=
l style=3D'margin-top:0in' start=3D8 type=3D1><li class=3DMsoListParagraph =
style=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'>The Company=E2=
=80=99s directors shall undertake to meet any cost overruns during construc=
tion of the project.<o:p></o:p></li></ol>Update:=
 we will share a resolution template to be adopted on your letter head.<o:p=
></o:p><ol style=3D'margin-top:0in' start=3D9 type=3D1><li c=
lass=3DMsoListParagraph style=3D'color:black;margin-left:0in;mso-list:l0 le=
vel1 lfo1'>Occupation permit within reasonable time but not exceeding Two (2)=
 Months upon determination of satisfactory project completion by a Bank app=
roved Valuer; or issuance of certificate of practical completion.&nbsp; </s=
pan><o:p></o:p></sp=
an></li></ol>Update: Post drawdown conditi=
on to be met.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&n=
bsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p><o=
l style=3D'margin-top:0in' start=3D10 type=3D1><li class=3DMsoListParagraph=
 style=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'>Evidencing o=
f the obligor=E2=80=99s payment of Kenya Shillings Twenty Three Million =
(Kshs.23,000,000.00) Only owed to Kingsley Construction Limited and/or =
mutually agreed duly executed agreement with clear spelt out terms of payme=
nt<o:p></o:p=
></li></ol>Update: Item still pendin=
g<o:p></o:p><ol style=3D'margin-to=
p:0in' start=3D11 type=3D1><li class=3DMsoListParagraph style=3D'color:blac=
k;margin-left:0in;mso-list:l0 level1 lfo1'>Disbursement shall be in Three =
(3) Tranches based on Architect=E2=80=99s Certificate of completion</sp=
an><o:p></o:p></spa=
n></li></ol>Update: To be provided during=
 drawdown stage<o:p></o:p><ol style=3D'margin-top:0in' start=
=3D12 type=3D1><li class=3DMsoListParagraph style=3D'color:black;margin-lef=
t:0in;mso-list:l0 level1 lfo1'>Duly executed contracts between Bayside Limite=
d and all the service professional team<o:p></o:p></li></ol>Update: =
Item still pending<o:p></o:p><ol s=
tyle=3D'margin-top:0in' start=3D13 type=3D1><li class=3DMsoListParagraphCxS=
pMiddle style=3D'margin-right:4.05pt;margin-left:0in;mso-add-space:auto;tex=
t-align:justify;text-justify:inter-ideograph;mso-list:l0 level1 lfo1'><span=
 lang=3DEN-GB style=3D'font-family:"Neo Sans Std"'>Professional indemnities=
 from all project consultants (Project Manager, Quantity Surveyor and Archi=
tect) not in DIB Bank Kenya Limited=E2=80=99s panel of service providers.<o=
:p></o:p></li></ol>Update: Item still pending=
<o:p></o:p><ol style=3D'margin-top:0in' start=
=3D14 type=3D1><li class=3DMsoListParagraph style=3D'color:black;margin-lef=
t:0in;mso-list:l0 level1 lfo1'>Fresh sale agreements and/or an addendum clear=
ly indicating DIB Bank Kenya Limited as the recipient account for the expec=
ted balance of the current presales and future project sales.<o:p></o:p></li></o=
l>Update: To be provided as and when a sale happens<=
span lang=3DEN-GB><o:p></o:p><o:p>&nbsp;</o:p><ol style=3D'margin-top:0in' start=3D15 ty=
pe=3D1><li class=3DMsoListParagraphCxSpFirst style=3D'margin-right:4.05pt;m=
argin-left:0in;mso-add-space:auto;text-align:justify;text-justify:inter-ide=
ograph;mso-list:l0 level1 lfo1'>Their project lawyer to undertake to ensure that all the proje=
ct sales funds are directly banked in DIB Bank Kenya Limited project/escrow=
 account.<o:p></o:p></li></ol>Update: Item still pending=
<o:p></o:p><o:p>&nbsp;</o:p><ol styl=
e=3D'margin-top:0in' start=3D16 type=3D1><li class=3DMsoListParagraph style=
=3D'color:black;margin-left:0in;mso-list:l0 level1 lfo1'>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></li></ol>Update: =
To be provided as and when a sale happens<o:p=
></o:p><o:p>&nbsp;</o:p><ol style=3D'margin-=
top:0in' start=3D17 type=3D1><li class=3DMsoListParagraph style=3D'color:bl=
ack;margin-left:0in;mso-list:l0 level1 lfo1'>Latest Tax Compliance Certificat=
e<o:p></o:p>=
</li></ol>Update: Item still pending<o:p></o:p><o:=
p>&nbsp;</o:p><ol style=3D'margin-top:0in' start=3D18 type=3D1><=
li class=3DMsoListParagraphCxSpFirst style=3D'margin-left:0in;mso-add-space=
:auto;text-align:justify;text-justify:inter-ideograph;mso-list:l0 level1 lf=
o1'>Copy of the Pur=
chaser=E2=80=99s self-assessment return from Kenya revenue Authority (KRA);=
<o:p></o:p></li></ol>Update: Item still pending</=
b><o:p></o:p><o:p>&nbsp;</o:p><o:p>&nbsp;</o:p><o:p>&nbsp;</o:p>=
CONFIDENTIALITY NOTICE: INFORMA=
TION IN THIS MESSAGE IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE=
 OF THE RECIPIENT (S) NAMED ABOVE. This message is privileged and confident=
ial. 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 immediat=
ely, delete the message and return any hard copy print-outs to the address =
above. DIB Bank Kenya Limited is neither liable for the proper and complete=
 transmission of the information in this communication nor any delay in its=
 receipt. <o:p></o:p><o:p>&nbsp;</o:p><=
/div></body></html>=

--_A1E87BB0-E512-4D13-898E-BF44213A9CD0_--

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