If Fidelity Bank (Bahamas) Limited (hereinafter referred to as FBBL) grants a
mortgage loan relative hereto. I/we agree to pay to the said FBBL all reasonable
expenses incurred, or to be incurred for searches, appraisals, examinations and
certificates of title as well as for drawing, perfecting and recording of
documents. Furthermore, Iwe will provide and pay the premiums on insurance in an
amount and with such insurers as are acceptable to the said FBBL with loss, if
any, payable to the said FBBL. I/we hereby certify all information provided is
true and complete. I/we have no other undisclosed financial obligations and
acknowledge the foregoing will be used to determine my/our credit-worthiness.
I/we consent to the exchange of financial information with other financial
institutions, credit bureaus or Mortgage Brokers of a credit nature by the said
FBBL at any time and hereby agree to indemnify and save harmless the said FBBL
from all claims from such exchange.
My/our deposit account may be charged with payments on the mortgage loan and
other applicable charges if granted.
I/we further understand that:
- Inspections of construction works in progress by the Inspector chosen by
me/us from FBBL's list are solely to ensure that the work is in reasonable
conformity with the approved plans and specifications, and therefore do not
constitute supervision of works on my/our behalf, which I/we are solely
responsible for.
- I/we are responsible for my/our contract with the builder/vendor and
disputes which may arise will not be arbitrated by FBBL, nor will FBBL be
held liable for the quality of construction or structural soundness of the
building regardless of how acquired.