REPUBLIC OF KENYA

IN THE MATTER OF THE CHATTELS TRANSFER ACT

(CHAPTER 28) LAWS OF KENYA

AFFIDAVIT

I, …………….. Advocate of Post Office Box Number ……… in the Republic of Kenya make oath and
state as follows:-

1. The paper writing hereto annexed and marked “l” is true copy of the Instrument under the above
Act and of every schedule or inventory thereon endorsed and/or therein referred to and of every
attestation of the execution thereof as made and give and executed by …………….
2. The said Instrument was made and given by ……… on the day of
…………

3. I was present and saw the said …………. duly executed the said Instrument on the day of
……. at my Chambers, Messrs ………, Advocates, ……………….

4. The said ………. a Businessman is residing at the premises situate at Plot No. ……. Road,
……… aforesaid of Post Office Number ……… aforesaid.

5. The name subscribed to the said Instrument as that of the witness attesting the due execution
thereof by the said ………….. is in the proper handwriting of me, the deponent.

6. I am an Advocate of the High Court of Kenya practising at ……and reside at the premises
situate on ………………...

SWORN by the said ………… at Mombasa this day of )

2002 )
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BEFORE ME: )
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COMMISSIONER FOR OATHS )

DRAWN BY:-
 “A”

CHATTELS TRANSFER ACT

( CAP.28 )

CHATTELS TRANSFER

I, …….. being a Businessman residing at the premises situate on Plot Number ……. in the Republic of
Kenya of Post Office Box ……… aforesaid ( hereinafter called the “Grantor” ) being the owner of the
article more particularly described in the Schedule hereto (hereinafter called “the Article”) IN
CONSIDERATION of ………. a limited liability company incorporated in the Republic of Kenya having
its registered office situate at Nairobi in the Republic of Kenya and carrying on business as bankers inter
alia at …………. aforesaid whose postal address is Post Office Box Number …….. aforesaid (hereinafter
called “the Lender” ) having agreed at my instance and request to lend and advance monies and grant
financial accommodation to me up to the maximum sum of Kenya Shillings ………….. (hereinafter
referred to as “the principal sum” ) HEREBY ASSIGNS and TRANSFERS the Article by way of mortgage
to the Lender to secure the repayments by me to the Lender of the said sum of Kenya Shillings
…………….) together with interest thereon at the rate of fourteen point five per cent (14.5% ) per annum
calculated on daily balances and debited monthly by way of compound interest on all amounts remaining
unpaid from the due date of the payments until the payment in full thereof and all costs charges and
expenses paid and incurred or suffered by the Lender in the payment insurance premium repairs or
preservation of the Article or for the protection and defence of the Article or the assertion and defence of
the Lender’s rights in connection with the Article or its security hereunder together also with the payment
for the demand recovery and the realisation of the moneys hereby secured.

AND IT IS HEREBY FURTHER AGREED AND DECLARED by us as follows: -

(1) That the Lender may at the Lender’s absolute discretion at any time increase the rate of interest
charged on the principal sum PROVIDED ALWAYS THAT the Lender shall not be required to
advise me prior to any change in the rate of interest so payable nor shall failure by the Lender to
advise me prior to any change as aforesaid without prejudice in any way howsoever the recovery
by the Lender of the interest charged subsequent to any such change.

(2) During the continuance of this security:-

(a) I will not sell charge hire out or otherwise alienate or part with the possession of the
Article without the written consent of the Lender first had and obtained;

(b) I will whenever requested so to do by the Lender render a full true report in writing
showing in detail the situation and condition of the Article;

(c) I will ensure at all times that the Article is maintained at all times and is in good working
order fair wear and tear only excepted;

(d) I will allow and permit any person or agent appointed by the Lender whether an officer of
the Lender or otherwise to inspect the Article at any time and to report on the condition
of the same and every such person or agent shall be permitted access a all times to the
Article wheresoever it may be and cost of every such inspection and report including the
inspectors remuneration shall be paid by me;
(e) I will insure the Article to the full value thereof in my name noting the interest of the
Lender thereupon (or if so required in my name and the Lender jointly) against all risks
and on such terms as the Lender shall require with a reputable insurance company
 approved in advance by the Lender in writing and shall if so required by the Lender
promptly deliver to the Lender every policy of such insurance and the receipt for all
premiums payable thereunder and all moneys received under any such insurance in
respect of any loss or damage to the Article shall be applied at the option of the Lender
either in or towards the repayment of the principal moneys and option of the Lender
either in or towards the repayment of principal moneys and interest and all other costs
charges and expenses due by me or the replacement or repairs of the Article or partly in
one such way and partly in the other PROVIDED ALWAYS that if default is made in
observance or performance of any of the foregoing undertakings in this sub-clause the
Lender may(but without being obliged so to do and without prejudice to concurrently with
any other powers granted to it hereby or otherwise by law) insure the Article in the
manner aforesaid at our costs which shall also be secured by this chattels mortgage.

(3) The Lender shall be entitled to the exclusive possession of the Article but nevertheless the
liability to maintain the Article and other liabilities of whatever nature attending the ownership and
operation of the Article shall be borne by and be my responsibility. I having deposited with the
Lender transfer form of the Article duly executed by me (but left blank as to dates and names of
transferees) hereby authorise the Lender to complete and use such form for the purposes of any
sale or transfer authorised under this Instrument or the Act referred to in Clause 8 hereinafter.

(4) It is hereby expressly declared and agreed by and between the parties hereto that if any default
is made by me in the observance or performance of any of the covenants conditions or
agreements herein expressed or implied and on my part to be observed and performed or if I
commit any act of bankruptcy or if at any time execution is levied against any of the goods of
mine and such execution is not satisfied within ten days then and in any such case the Lender
either itself or by its agents or servants may immediately thereupon or at any time thereafter
without any further consent by me and without giving me notice or any time and notwithstanding
any subsequent acceptance of any payment of any money due on this security enter upon any
lands or premises whereon the Article may be and take possession thereof and sell or dispose of
the same by private sale or public auction and generally in such manner in every respect as the
Lender deems expedient and entirely at the discretion of the Lender which discretion shall be
absolute and not challengeable in any way with power to allow time for payment of purchase
money or to buy in the Article at such sale or auction and to rescind or vary the terms of any
contract for sale and to resell without being answerable for any loss or expense occasioned
thereby and to execute all such assurances and do all such things for giving effect to any such
sale as may be necessary or proper and the receipt of the Lender or its agent shall be sufficient
discharge to any purchaser at such sale for any of the purchase-money and upon any sale
purporting to be made in exercise of the powers herein expressed or implied no purchaser shall
be bound to inquire as to the propriety or regularity of such sale or be affected by notice express
or constructive that any such sale is improper or irregular. The Lender shall stand possessed of
the proceeds of any such sale upon trust after paying thereout the costs charges and expenses
of and incidental to such taking possession and conducting such sale the preparation and
registration of this instrument and in payment of all costs expenses and charges properly
incurred by the Lender in carrying out any act allowed or permitted by this Instrument to apply
the same in reduction of the moneys hereby secured notwithstanding that the same may not then
have become due and to pay the balance if any to me.

(5) It is hereby expressly agreed and declared by me that this chattels mortgage is a security of the
principal moneys and interest and all other moneys costs charges and expenses due and owing
by me to the Lender and shall be a continuing security notwithstanding any settlement of account
until formally discharged accordance with Clause 6 hereof.
(6) Upon payment to the Lender of all moneys due and owing by me the Lender shall at my request
and expense execute a discharge of this chattels mortgage.

(7) I shall pay all costs and expenses of and incidental to the creation and enforcement of this
chattels mortgage and pending the payment by me the said costs and expenses shall be a first
charge upon the Article.

(8) I hereby expressly agree and declare that the covenants for title set out in the schedule to the
Chattels Transfer Act (Chapter 28) and such of the covenants provisions agreements powers
and definitions set out in the Schedule thereto as applicable to these presents and are not
inconsistent herewith shall be applied herein as if the same were wholly reproduced in this
instrument.

IN WITNESS WHEREOF the Grantor has hereunto set his hand this day of Two
Thousand and Three.

SCHEDULE REFERRED TO

“THE ARTICLE”

OWNER: .
REGISTRATION NO: .
MAKE: .
COLOUR: .
TYPE OF BODY: .
CHASSIS NO: .
ENGINE NO: .

SIGNED by the said … in the presence of: - )

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