NEDBANK-ASSISTED SALES (NAS)

CLIENT MANDATE

______________________________________________________________________________________

I/We, the undersigned,

MISS. N Z Z MSIBI
Full names

Identity number(s) ['the client(s)']

8003263383501
Home loan account reference number

Sect 25 of plan 139/1997 known as ROYSTON RIDGE Situated at Erf 7 AMANZIMTOTI ETHEKWINI
KWAZULU NATAL
Stand/Erf description ('the property')

do hereby acknowledge the following:

(a) Nedbank Limited its orders, successors in title or assigns ('the lender') has granted me/us a home loan under the abovementioned account
reference number wherein I/we have undertaken to settle my/our outstanding debt with the lender; and

(b) I/We am/are in default of the home loan agreement and/or I/we am/are otherwise experiencing financial difficulty. Pursuant thereto I/we have
agreed to grant this mandate to the lender on the terms and conditions set out below to settle my/our indebtedness to the lender.

I/We further expressly declare and agree to the following:

1 I/We know my/our rights to approach a debt counsellor, alternative dispute resolution agent, consumer court or Ombud with jurisdiction.
2 I/We have the necessary authority to grant this mandate (if acting in a representative capacity, the necessary company, close corporation or
trustee resolution must be attached).
3 I/We will notify the lender if I/we apply for debt review during this agreement. This mandate will remain valid until confirmation of cancellation
is provided by either party.
4 I/We have not entered into any verbal or written lease agreements or any other encumbrance in respect of the property or, where such an
agreement exists, it has been fully disclosed to the lender.
5 I/We have not entered into any agreement of sale in respect of the property at the date of signature hereof and will not enter into any such
agreement other than in terms of this mandate until this mandate expires.
6 I/We have not signed any other mandate with any third party to sell or market the property as at the date of signature hereof and will not
enter any such mandate until this mandate expires.
7 I/We hereby mandate the lender to –
7.1 act as my/our agent to arrange the sale of the property;
7.2 appoint and mandate an estate agent to market the property on my/our behalf;
7.3 disclose to the estate agent my/our relevant personal details necessary to arrange and effect the sale of the property, which include, but
are not limited to, the following –
7.3.1 My/our full names
7.3.2 My/Our contact numbers
7.3.3 My/Our physical address
7.3.4 Physical address of property
7.3.5 Current valuation of property
8 This mandate is subject to my/our providing the lender with the following documents within five days of signing this mandate:
8.1 Copy of identity document(s)
8.2 Latest rates and taxes statement from the municipality
8.3 Confirmation of my/our marital status
8.4 Latest levy statement issued by the body corporate, if applicable

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9 The reserve price referred to in this mandate means the lowest price that the client and the lender are prepared to accept for the property
while the mandate is still active. This reserve price will not be less than 80% (eighty percent) of the estimated market value of the property as
at the date of signature of this mandate, which value will be determined by considering current market conditions and other determining
factors:

Estimated market value: R 680000.00

Reserve price: R 544000.00

10 Should the offer received by the lender be lower than the reserve price referred to in clause 9 above, the lender will consider the offer and
make a recommendation in respect of whether to accept or decline the offer. Thereafter, I/we will provide the lender with my/our decision as
to whether I/we accept the offer within 5 (five) business days after the offer price is received. In the event of a shortfall between the highest
offer received and accepted by me/us and the outstanding balance on the home loan account, I/We and the lender may settle the
outstanding balance by negotiations. I/We acknowledge that the lender may at its sole discretion write off 50% (fifty percent) of the shortfall
(‘forgiveness amount’) once the offer received is accepted by me/us and I/we will be liable for the outstanding balance on the home loan
account. The forgiveness write-off may be adjusted from time to time, based on prevailing market conditions and other determining factors.
11 I/We acknowledge and agree that all costs incidental to the sale of the property will be debited to my home loan account (free of interest) and
will thereafter be deducted from the purchase price, prior to the proceeds of the sale being paid to me/us. Such cost will include but not be
limited to estate agent commission, rates and taxes, bond cancellation cost, attorney fees, etc.
12 In the event that there is a shortfall between the highest offer received and accepted by me/us, the shortfall amount will include estate agent
commission, rates and taxes payable by me/us to the municipality, bond cancellation costs and levy cost, and will exclude repairs to the
property, any preferential deductions in terms of any legislation, including, but not limited to, amounts owed to the South African Revenue
Service, any court orders and/or interdicts to enforce any amount owed to a creditor of the client and amounts owed to other secured
creditors of the client.
13 The forgiveness amount mentioned in clause 10 above is at the lender’s discretion and will be effected upon transfer of the property in the
name of the purchaser, subject to the client signing an acknowledgment of debt agreement in respect of the shortfall amount.
14 I/We will sign an acknowledgement of debt ('AOD') for the shortfall amount as mentioned in clause 10 above, which will be explained by the
lender and/or the conveyancing attorney before signing of the transfer documents. The lender will not consider writing off any portion of the
shortfall amount should I/we refuse to sign or delay the signing of the AOD and any other documents the lender may require. All documents
must be signed and returned to the lender or the conveyancing attorney within 5(five) working days of my/our receipt thereof. Once the AOD
has been signed and I/we fail to comply with its terms thereof, I/we will immediately become liable for the full shortfall amount and will forfeit
the forgiveness amount mentioned in clause 10 above. The lender will in such an instance, immediately proceed with legal recourse for the
recovery of the full outstanding balance on the home loan account.
15 The lender will nominate the conveyancing attorney to effect cancellation of the mortgage bond and to attend to the registration of transfer of
ownership of the property.
16 I/We will not do anything that may in any way prevent and/or hinder the lender and/or the estate agent from effecting a sale of the property in
terms hereof. If any hindrance occurs and is directly attributable to me/us, the cost incurred by all parties up to that point will be for my/our
account and debited to my/our home loan account (free of interest). I/We jointly and severally indemnify the lender and/or the estate agent
and/or its agents against any loss or damage they may suffer because of my/our breach of the above undertaking.
17 If I/we withdraw from the NAS programme for any reason, I/we will be liable for all the costs incurred by the lender, which costs will be
debited to my/our home loan account (free of interest), unless the lender waives this fee in writing. Such fees include, but are not limited to,
estate agent commission, transfer costs, marketing costs, and all other wasted cost.
18 I/We agree that I/we remain liable for payment of the estate agent commission and hereby authorise the lender to pay the estate agent
commission on my behalf for services rendered, which commission will be deducted from the proceeds of the sale, and which commission is
calculated as follows:
18.1 a commission of 3,5% (three and a half percent) (excluding VAT), where the purchase price is below 80% (eighty percent) of the
estimated market value referred to in clause 9;
18.2 a commission of 4,5% (four and a half percent) (excluding VAT), where the purchase price is between 80% (eighty percent) and
84% (eighty four percent) of the estimated market value referred to in clause 9;
18.3 a commission of 5,5% (five and a half percent) (excluding VAT), where the purchase price is between 85% (eighty five percent) and
95% (ninety five percent) of the estimated market value referred to in clause 9;
18.4 a commission of 7,0% (seven percent) (excluding VAT), where the purchase price is more than 96% (ninety six percent) of the estimated
market value referred to in clause 9; and
18.5 a further commission for offers received within the first 60 (sixty) days of the mandate acceptance by the estate agent, which will be
structured as follows –
18.5.1 80 to 84% (eighty to eighty four percent) – an additional 0,5% (half a percent);
18.5.2 85 to 95% (eighty-five to ninety five percent) – an additional 0,5% (half a percent);
18.5.3 > 96% (more than ninety six percent) – an additional 0,5% (half a percent).
19 I/We will be liable for payment of the estate agent commission at the rate mentioned in clause 18 above, immediately on demand, if:
19.1 I/we sell the property myself/ourselves during the mandate period specified in clause 25; or
19.2 I/we sell the property through an agency or any person other than the estate agent during the mandate period specified in clause 25.
20 I/We will vacate the property on the date of registration of transfer of ownership of the property to the purchaser and I/we will notify the lender
thereof immediately.

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21 I/We will allow the lender or the estate agent access to the property for six (6) full open days for the showing of the property at any time
during the mandate and I/we further agree that neither the lender nor the estate agent will be liable for any loss or damage suffered by me/us
in regard thereto.
22 The estate agent may at its discretion employ such marketing activities as it deems necessary to market the property and I/we further
consent to the estate agent's taking any necessary steps on my behalf.
23 I/We undertake to provide the lender and/or the estate agent with all and any necessary documents, and do all things necessary, as may be
requested from time to time to give effect to the transfer of the property.
24 This mandate does not minimise or limit any right the lender may have to any other legal remedy in the event of any default by me/us in
respect of my/our home loan agreement.

25 This mandate will be of full force and effect from the date of signature hereof and will terminate:
25.1 hundred (100) days after the date of signing this mandate; or
25.2 as soon as all the conditions set out in clause 26 below have been fulfilled.
26 This mandate and the rights reserved under clause 10 may be suspended or revoked at the sole discretion of the lender should I/we at any
time during the mandate deliver proof and the lender acknowledges receipt and acceptance of proof that:
26.1 I/we have paid in full all arrear amounts, legal fees and associated outstanding costs related to and due in terms of the property; or
26.2 the lender has received and accepted satisfactory loan guarantees from a prospective purchaser of the property.
27 The lender can relinquish this mandate at any stage on twenty-four (24) hours' written notice to me/us should I/we, in the lender’s opinion, be
uncooperative or do anything that defeats the purpose and/or objective of this mandate.
28 Any disputes or complaints raised by me/us will be decided on merit and the lender will have the discretion to decide on the validity of
disputes or complaints.
29 I/We have read and understand all the terms and conditions contained herein and agree to be bound thereby.
30 I/We am/are not under any obligation to sign this mandate.
45 Minstrel Street, 78 summer place, Kuilsriver 7580 2/10/23
Signed at on / /
Place Day Month Year

Client(s)

Nondumiso Zamokuhle Zamanguni Msibi

Client's signature Full name(s) and surname

Client's signature Full name(s) and surname

Spouse's signature if married in community of property Full name(s) and surname

Consent of surety (if applicable)

I confirm that I have read, understand, and agree to be bound by the terms and conditions relating to this mandate.
45 Minstrel Street, 78 Summer Place, 02/10/2023
Signed at on / /
Kuilsriver, capetown, 7580 Place Day Month Year

Surety
Nondumiso Zamokuhle Zamanguni Msibi
Surety's signature Full name(s) and surname

Witness's signature Full name(s) and surname

Spouse's signature if married in community of property Full name(s) and surname

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