Decision of the Chairman of the Authority No. (975) for the Year 2016

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Form ( / ) Real Estate Financing Agreement under the Ijarah System (Lease-to-Own) In accordance with the provisions of Real Estate Financing Law No. 148 of 2001 Amended by Law No. 55 of 2014

On the day corresponding to / /
An agreement was reached between the following:
First Party: .................. Real Estate Financing Company, an Egyptian joint-stock company, with its principal office at .................. Commercial registration No. ................. Registration date ................. Licensed to conduct real estate financing activities by the Financial Regulatory Authority under No. ........... Represented in signing this agreement by Mr. .................. in his capacity as .......................... . First Party Financier "Lessor" (.......................) Second Party: Mr. ........................ residing at Unit No. ............ Street ............ City
............. Governorate ............. National ID / Passport No. .............. issued by ............
on date ............ and his chosen address ...........................
Or company ....... with address ........... Commercial registration No. .......... issued by .......... on date ......... and represented in signing the agreement by Mr. .............. in his capacity as ........... .

Second Party Investor "Lessee"
(.........................)

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Preamble
The First Party owns Unit No. ......... Street ............... District or subdivision or neighborhood .........
in the city of ............. in the governorate of ............. area........... square meters under the excess deficit.
The First Party purchased the aforementioned unit based on the Second Party's request through the attached application stipulating his commitment to lease it from the First Party under the lease-to-own system in accordance with the provisions of the Real Estate Financing Law No. 148 of 2001 amended by Law No. 55 of 2014.
The two parties agreed that the Second Party shall pay an advance payment amounting to........... (only.................
Egyptian pounds non) to be deducted from the total rental value, and shall pay the Real Estate Financing Activity Guarantee and Support Fund to the First Party %........ of the unit's value. If the investor is among the beneficiaries of the Real Estate Financing Activity Guarantee and Support Fund, the Social Housing Fund, or the Central Bank initiative, both the Financier and the Investor are committed to the conditions set by the Real Estate Financing Activity Guarantee and Support Fund according to a model attached to this agreement prepared by the Fund for this purpose. After both parties acknowledged their full legal capacity to contract and dispose, they verified the following:
Clause One
The aforementioned preamble is considered the application submitted by the Second Party expressing his desire to lease the unit, and the sale contract concluded between the Lessor and the Seller and its annexes are an integral part of this agreement and supplement its conditions. Furthermore, the provisions of Law No. 148 of 2001 amended by Law No. 55 of 2014, its executive regulations, and decisions issued by the Financial Regulatory Authority in implementation thereof are considered an integral supplement to this agreement and govern its provisions where no specific text exists. They shall also take precedence in application in case of conflict with other provisions. All attachments and annexes to this agreement are considered an integral part of it and supplement its clauses.

If the investor is among the clients of the Real Estate Financing Fund

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Clause Two Subject of the Agreement The First Party owns the unit detailed below and has the right to lease it based on the request submitted by the Second Party "Lessee", who has agreed to lease it to him under the lease-to-own system. Its details are as follows:
. Details of the Property containing the subject unit:
No. ......... Street ..................... District or neighborhood or subdivision ...................
City..................... Governorate...................
And bounded by the following limits:
Northern limit: .........................................................................................
Eastern limit: .........................................................................................
Southern limit: ..........................................................................................
Western limit: .........................................................................................
And the property consists of: ....................................................................................
. Details of the subject unit:
Unit No. ............ on Floor No. ............... in Property No. .......... Street.......................
District or neighborhood...................... City.................. Governorate ...................
Consisting of ..................... its service area ........ (only ......... square meters) and its net area ............ and its boundaries as follows:
Northern limit: ..........................................................................................
Eastern limit: ..........................................................................................
Southern limit: ...........................................................................................
Western limit: .........................................................................................

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Clause Three Unit Valuation The subject unit of the agreement has been valued at an amount of ................ (only................. Egyptian pounds non) including the equivalent rental value at an amount of .................. (only................. Egyptian pounds non) by the real estate valuation expert Mr. .................. registered in the Real Estate Valuation Experts Register at the Financial Regulatory Authority under No. ......... Both parties have accepted this valuation. Clause Four Ownership Ownership of the subject unit vested in the First Party pursuant to the sale contract dated ..../..../.. between him and Mr. ...................... or company.................. for a total price of................. only non; and the First Party acknowledges that it is owned by him; and no third party has any real or accessory rights upon it, and he acknowledges that it is not leased nor lent to any third party, and that he possesses it peacefully and openly without material or legal interference from any third party; and that the buildings were erected in accordance with valid permits issued by the competent official authorities and that the on-site execution was carried out in accordance with permits and technical rules and standards, and that there are no violations of the type . Clause Five Inspection Decision The Second Party acknowledges that he has fully inspected the subject unit of this agreement to the exclusion of ignorance, and that he accepts it in its current condition.

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Clause Six Rental Value An agreement was reached to determine the basic rental value at an amount of .......... (only................. Egyptian pounds non) and the variable rental value at an amount of ......... (only................. Egyptian pounds non) and the supplementary rental value at an amount of .......... (only................. Egyptian pounds non) on the condition that the total rental value throughout the financing period amounts to ............ (only................. Egyptian pounds non) The First Party leases to the Second Party the unit described and detailed in this agreement for a period starting from ..../.../.. ending on ..../.../..
The parties to the agreement also agreed that the rent payment method shall be (monthly/quarterly/semi-annually/annually) starting from the date ............... and ending on ..../ / .....
The First Party is also committed to ensuring that the attached repayment schedule clearly shows the total financing value and its costs, the number of installments and their values and their due dates, and any other expenses added to the financing costs or deducted from the investor's account, and the repayment schedule is considered a supplement to this agreement and an integral part of it. Clause Seven Early Repayment If the lessee wishes to accelerate the settlement of all or part of the rent installments; he must notify the lessor thereof at least one month prior to the early repayment date. In this case, the outstanding rental installments due from him shall be reduced according to the attached early repayment schedule for the lease agreement, which determines the reduced value to be settled according to the date on which settlement is made from the remaining years of the rental installments. Clause Eight

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Assignment of Rights Arising from the Financing Agreement The First Party may assign the rights arising from the lease agreement to real estate financing companies or real estate refinancing companies or any of the entities that conduct the activity of securitization of financial rights, and he has the right to disclose to the assigned-to entity the identity of the Second Party debtor regarding the rights that were assigned, and the guarantee provided by him, and what he has settled in terms of installments and settlement dates and cases of default, and the signature of the Second Party to this agreement constitutes his acceptance for the First Party to assign those rights to any of the aforementioned entities, and the assigned-to entity has the right - in case there is a mortgage on the unit in favor of the lessor - to arrange a right on the unit as security for its rights, provided that it commits to completely remove the mortgage from the unit after the Second Party pays the full price. Clause Nine Assignment of Lease The Second Party has the right to assign the lease to a third party after obtaining written consent from the First Party for the assignment; in this case, all rights and obligations arising from the agreement shall transfer to the assignee, and the First Party also has the right to require a guarantor for the Second Party from the assignee regarding the payment of the agreed rent. Clause Ten Obligations of the Lessor . Enable the lessee to fully inspect the unit to the exclusion of ignorance and that it matches the required specifications and that he accepted it in its current condition. . Enable the lessee to occupy and possess the unit peacefully, guaranteeing non-interference with this possession throughout the agreement period, and the lessor commits to not dispose of the unit to any third party by any means of disposal or arrange a real or accessory right on the unit throughout the validity period of the agreement. . Notify the lessee at least twice a year of all data related to the financing agreement. . Notify the lessee of the entities to which his rights are assigned and the payment method for installments if any changes occur. . Notify the lessee of any information coming to his knowledge that may affect his real estate guarantee. . Disclose to the lessee the actual financing costs.

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties . Disclose to the lessee all details of expenses that will be added to the financing cost and any fees or costs or expenses deducted from his account, even if implemented pursuant to a legal provision, contractual condition, or judicial ruling, and the lessor may add to the cost only the administrative expenses that he discloses to the lessee. . Transfer ownership of the unit at the end of the agreement period upon the lessee or his general successor completing the payment of all financing installments and removing the mortgage registered on the unit as security in his favor, and removing any lien on alternative guarantees. . Provide the lessee with a copy of the Real Estate Financing Basic Conditions Model prepared by the Financial Regulatory Authority, and the lessee has issued an acknowledgment thereof attached to this agreement. . Maintain complete confidentiality of his clients' data and not disclose any information about them or their transactions to any third party without their prior written consent and within the scope of this consent, except in cases where specific information must be provided to the Authority or supervisory or judicial authorities, rating agencies or credit information companies, and entities conducting securitization or refinancing activities, in accordance with what laws mandate. Clause Eleven Obligations of the Lessee . Pay the agreed rental values according to the deadlines specified in this agreement and detailed in the attached rental value repayment schedule to this agreement. . Preserve the leased property and use it in the customary manner as if he had leased it to himself, without increase. If he shortens its life or violates the modes of use agreed upon in the agreement or contravenes custom, he shall be liable for damage, destruction, or reduction affecting it resulting from this use. . Not dispose of the unit, lease it, or enable a third party to exclusively occupy it except after obtaining written consent from the lessor based on a written request addressed to him at least thirty days prior to the scheduled date for the lease or occupation, and attaching documents proving the identity of the person to whom disposal is made, his income, and the guarantees provided by him.

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties . Use the unit according to the designated purpose agreed upon in the agreement and not make any modifications that compromise the lessor's real estate guarantee without obtaining written consent from the lessor. . Notify the lessor in writing in case of any material or legal interference from a third party. . Acknowledge his acceptance to make the data of this agreement and its annexes and any amendments thereto available to the Financial Regulatory Authority. . The lessee acknowledges that he received a copy of the Real Estate Financing Basic Conditions Model prepared by the Financial Regulatory Authority and issued an acknowledgment thereof attached to this agreement. Clause Twelve Disposal of the Subject Unit . The Second Party has the right to lease the subject unit or enable a third party to occupy it after obtaining written consent from the First Party and under the conditions attached to this consent, and the First Party may require the assignment of the right to the rent of the unit in exchange for its occupation as settlement of his dues. . The First Party has the right to require a guarantor from the Second Party with the assignee regarding the fulfillment of obligations arising from this agreement. . The First Party may refuse consent to lease the unit or enable a third party to exclusively occupy it except for serious reasons that endanger his interests and rights, and in this case he must notify the Second Party of these reasons in writing within thirty days from the date of notification by the Second Party of his desire to dispose of or lease or enable a third party to exclusively occupy the unit, otherwise he shall be deemed to have consented thereto. Clause Thirteen

11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Guarantees and Insurance . The First Party has the right to obtain adequate guarantees to ensure the collection of financing installments, such as a mortgage or privilege on another property, joint and several guarantee from a third party, or assignment of rights to the Second Party's receivables from third parties, or any other guarantees the First Party deems appropriate. . The First Party has the right, in case of enforcement on alternative guarantees provided by the Second Party, to collect from them what relates to the rent due during periods of default and the agreed penalties, and he has no right to collect all rental installments including subsequent installments that were not offset by his enjoyment of the unit, and he may collect from the guarantees all compensation resulting from the Second Party's breach of the agreement. . The Second Party acknowledges his commitment to insure in favor of the First Party (in case the lessor requires insurance against any or all of the aforementioned risks) for the value of his rights against risks of non-payment due to death, default, total or partial disability, or destruction of the unit due to fire or otherwise, and the insurance shall remain in effect as long as any dues of the First Party exist. . In case the lessee bears the insurance installments, the insurance installment borne by the Second Party shall be added to the financing cost, which he commits to pay to the First Party to settle with the insurance company. . Insurance installments shall be calculated on the debt balance and not on the total financing value. . In case the lessor obtains a preferential treatment from one of the insurance companies, the lessor must disclose this to the lessee. . In case of the lessee's death and if the heirs express their desire to continue the agreement, all rights and obligations shall transfer to them. Clause Fourteen Promise to Sell The First Party commits to selling the unit to the Second Party after paying all due rents and the agreed value to purchase the unit at an amount of ............. and the First Party commits to drafting a sale contract for the unit to the Second Party free of any third-party real rights within a maximum period of three months.

10 11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Clause Fifteen Termination of Agreement The agreement is considered terminated in case the Second Party breaches his obligations stipulated in this agreement. And in all cases, if the agreement is terminated, the financing agreement shall be settled as follows:

• Determine the market value of the unit by one of the real estate valuation experts registered with the Financial Regulatory Authority.
• Sell the unit at its market value on the date of sale, with the proceeds of the sale to be shared by granting the First Party the total basic rental value remaining on the date of termination, plus the variable rental value, the supplementary rental value, and the expenses incurred by the First Party up to the date of sale, and the remainder shall be returned to the Second Party.
  Clause Sixteen
  Proof of Agreement Date and Notarization
  The parties to the agreement are committed to proving the date of this agreement and notarizing it in the Real Estate Registry in the official format generally approved according to the circumstances and placing the executive formula on it. Clause Seventeen Legal Domicile of the Parties The parties to the agreement acknowledge that they have chosen their domicile at the address specified for each of them at the beginning of this agreement, and both the First Party and the Second Party commit to notifying the other in case of a change by registered mail with acknowledgment of receipt, otherwise all notifications and correspondence sent to this address shall be deemed correct and legally effective.

11 11/ Issued by Decision of the Chairman of the Authority No. (1076) dated 24/12/2015 ____________________________________________________________________ Between Two Parties Clause Eighteen Local Jurisdiction of Courts The Economic Court within the jurisdiction of which the residential unit subject to this agreement is located shall have jurisdiction to hear and adjudicate any dispute arising regarding the implementation of any of the terms of this agreement, and the parties may agree to resort to arbitration under this agreement in accordance with the provisions of Law No. 27 of 1994. Clause Nineteen Copies of the Agreement This agreement is executed in two copies, with each party retaining one copy for action as required. First Party Second Party Financier (Lessor) Investor (Lessee)