UNRA STAFF SAVING AND CREDIT COOPERATIVE SOCIETY LTD

LOAN AGREEMENT

THIS PROMISSORY NOTE made on this 23rd day of June 2022 BETWEEN DAN KATO of MBARARA P.O
Box MBARARA Hereinafter referred to as the "Borrower" (which expression shall where the context so
admits include the Borrower's legal representatives, successors in title and or assigns) of the one part;

AND

UNRA SACCO LTD of P.O. BOX 28487, Kampala incorporated under the cooperative laws of Uganda,
(hereinafter referred to as "the Lender", which expression shall where the context so admits include its
successors in title, legal representatives and assignees) of the other part.

WITNESSETH AS FOLLOWS:

WHEREAS

At the request of the Borrower, UNRA STAFF SACCO LTD has agreed to grant the Borrower a Loan Facility
up to UGX 11,200,000.00 (Uganda Shillings eleven million one hundred ninety-nine thousand nine
hundred ninety-nine point zero Only), upon having the repayment thereof with interest thereon secured in
manner hereinafter appearing;

The Borrower agrees to repay UNRA STAFF SACCO LTD the loan at a monthly interest of 0.83% payable
every after one month(s) installments of UGX 361,392.50 (Amount) the first due on the 23rd day of July
2022 and the loan will be repaid in a period of 36 months. I understand that my payments will total to UGX
13,010,129.84 (Total amount) of which the total interest collected will be UGX 1,810,129.84 (Interest
portion).

IT IS HEREBY AGREED AS FOLLOWS (TERMS AND CONDITIONS):

A. REPAYMENTS

1. Unless otherwise stated, the Borrower will make monthly repayments to the UNRA staff SACCO in
either cash or direct bank deposits.

2. The Borrower authorizes UNRA STAFF SACCO LTD to bank any of the post-dated cheques
deposited as security in the event that the repayment schedule is not met, except upon mutual
agreement in special circumstances such as late payment of salary or for reason of illness, proof of
which shall lie on the Borrower.

3. To cite any of the special circumstances in clause 2, UNRA STAFF SACCO LTD will require a written
explanation with supporting evidence from the Borrower before the due date of such payment to
prevent UNRA STAFF SACCO LTD from banking any post-dated cheque.

B. CHARGES

4. Upon defaulting the loan repayment, 10% will be applied on the interest due that month. The interest
penalty will then be added to the principal sum of the borrower and the total will be due and payable

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LOAN AGREEMENT

by the borrower.

5. Further to the above, UNRA STAFF SACCO LTD will levy charges on any bounced cheques.

C. BORROWERS OBLIGATION

6. UNRA STAFF SACCO LTD shall have the right to recover from the Borrower, in addition any
outstanding amounts, any collection charges including attorney costs. Such recovery may include the
sale of pledged assets, seeking payment from any surety/Guarantors(s), if any, or a combination of
the above.

7. For the Purposes of this loan facility, the Borrower chooses the address above and If any notice is
delivered at that address the Borrower will not be able to dispute that it was received.

8. The borrower is expected to immediately notify UNRA STAFF SACCO LTD about any changes that
may occur in his/her official, residential or commercial address.

9. While the loan is still running, the Borrower shall not sell, transfer or create or allow any mortgage,
charge, pledge or lien to subsist on any of the securities offered to UNRA STAFF SACCO LTD without
the prior written consent of UNRA STAFF SACCO LTD.

10. The Borrower warrants that there is no pending or threatened litigation, investigation or proceeding
that may have an adverse effect on the property(ies) pledged or that purports to affect the facility or
the transaction contemplated herein.

D. EARLY REPAYMENT

11. The Borrower is entitled to the option of early repayment of the loaned amount where after UNRA
STAFF SACCO LTD may, as per the policies and procedures of the loan, reduce the amount of
interest previously agreed on in the loan agreement.

E. SECURITY

12. The Borrower undertakes to secure the Loan with the security/securities listed in the collateral form
which shall form part of this agreement and the Borrower warrants that all the requisites consents
have been obtained prior to the pledging thereof.

13. Both parties hereto agree that the Lender shall be vested with a lien in the Borrower's Security, which
lien the Lender can exercise to recover the sum advanced to the Borrower in the event that the he/she
defaults in repayment of the loan.

14. In the exercise of the said lien, the Lender is hereby empowered to use lawful means to Claim the
subject security and dispose it of by sale with or without recourse to court.

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LOAN AGREEMENT

15. The Lender shall make every effort in realizing the security by sale to ensure that the best possible
price is obtained, but in any case, the Borrower shall not be discharged from his/her obligations under
this Agreement in the event that the sum so obtained is insufficient to retire the outstanding balance
on both the principal and interest.

F. LEGAL COSTS

The legal costs incurred in the execution of this Agreement shall be borne by the Borrower.

G. DECLARATION:

I confirm that I have read, understood, and agreed to the terms and conditions of this agreement and in
consideration of UNRA STAFF SACCO LTD granting me the amount applied for or as the Board of Directors
may decide, I hereby declare as follows:-

a. That the information provided by me and the foregoing particulars are true to the best of my
knowledge and belief.

b. I agree to abide by all the terms and conditions governing this loan agreement and any other future
amendments as may be reasonably made from time to time.

c. That I agree to pay all charges, fees, rates, levies or taxes that are or may become payable on any
asset offered as security. I also irrevocably authorize the SACCO to pay such charges, fees, levies or
taxes on my behalf and to include them as part of the amount owed by myself.

d. That should I leave the service of UNRA, any sum of money due to me from the said employer for
whatever purpose may be utilized to the extent necessary to liquidate any outstanding loan balance.

e. I hereby irrevocably authorize the SACCO to settle at any time all monies held by the SACCO against
my indebtedness arising from this facility now or in future as per SACCO Sacco's by-laws and
policies.

H. AUTHORITY TO DEDUCT LOAN BALANCE FROM TERMINAL BENEFITS

In the event of my leaving employment with UNRA, I, authorize the organization (UGANDA NATIONAL
ROADS AUTHORITY), to first apply my terminal payments to offset, as far as possible, any outstanding,
loans due and owing to UNRA Staff Savings and Credit Cooperative Society Ltd, before paying the balance,
if any, to me. I hereby agree to indemnify and hold harmless the SACCO, its trustees, officers, employees,
agents, administrators, successors and assigns, against any and all claims, causes of action and judgments,
damages, losses, costs, expenses and demands whatsoever, arising out of or in connection with my
participation in the UNRA STAFF Savings and Credit Cooperative Society Ltd, including any deductions from
my salary authorized by me as a borrower or guarantor.

Member's Name: .................................................................................................................................................

Member's Signature: .....................................................................................Dated: ..........................................

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LOAN AGREEMENT

I. CONSENT ON RETIREMENT BENEFIT SCHEME(RBS)

In the event that I leave the employment of UNRA for any reason when the SACCO is still demanding me
any uncleared debt obligation, I authorize UNRA, to use my money that could be in RBS to offset, as far as
possible any outstanding loans due and owing to UNRA Cooperative Savings and Credit Society Limited,
before paying the balance, if any, to me. I hereby agree to indemnify and hold harmless the UNRA, the
SACCO, its trustees, officers, employees, agents, administrators, successors and assigns, against any and
all claims, causes of action and judgments, damages, losses, costs, expenses and demands whatsoever,
arising out of or in connection with my participation in the UNRA Staff Savings and Credit Cooperative
Society Ltd, including any deductions from my RBS authorized by me as a borrower or guarantor.

Signed by;

Name: .................................................................................................................................................................

Signature: .....................................................................................Dated: ...........................................................

J. DISPUTE RESOLUTION AND LAW APPLICABLE

16. This agreement shall be governed and construed by the laws prevailing in Uganda and any disputes
arising from or in relation thereto shall be subject to the jurisdiction of the courts of Uganda.

K. ATTESTATION

17. The Borrower acknowledges that the contents of this agreement have been fully explained to him/her
before appending his/her signature or affixing his/her thumbprint and he/she understood the contents,
nature and full effect of the same.

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 UNRA STAFF SAVING AND CREDIT COOPERATIVE SOCIETY LTD

LOAN AGREEMENT

IN WITNESS WHEREOF the Borrower and UNRA STAFF SACCO LTD have caused their respective
signatures to be affixed hereunto and set their hands hereto the day the month and year first before written.

Borrower's Name Borrower's Signature or Thumbprint

SIGNED FOR AND ON BEHALF OF UNRA STAFF SACCO LTD

Name Signature

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