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MARIANAS PUBLIC LAND TRUST

REQUEST FOR QUALIFIED PROPOSALS – SHIP -V FIVE HOUSES IN SAIPAN

AND ONE HOUSE ON SINAPALO, ROTA

The Marianas Public Land Trust (MPLT) announces this request for qualified proposals for the following:

1) Two-story 5 Bedroom Concrete House in Kannat Tabla, Saipan – 1 unit 2) 2 Bedroom Concrete House in Kagman III, Saipan - unit 3) 2 Bedroom Concrete House in Kagman III, Saipan – 1 unit 4) Two-story 4 Bedroom Concrete House in Sinapalo, Rota - 1 unit 5) 1 Bedroom Concrete House in Kagman III- 1 unit 6) Two-story 5 Bedroom Concrete House in Dan Dan, Saipan 1- unit

MPLT Resolution 10-10-A2 establishes the Supplemental Home Investment Program (SHIP), under the program, MPLT offers these acquired homes in its inventory to qualified persons. The three significant qualification requirements include the following: 1) the homes are offered at the minimum appraised value; 2) each proposer is credit-worthy for debt-service for the amount of the appraised value of the home; and 3) the proposer is certified as qualified under the CNMI Homestead Program with the CNMI Department of Public Lands, Homestead Division. The interest rate is 2% per annum fixed under the program. Notice is given to all proposers that there are no warranties of any kind as to any of the homes under the SHIP program. Homes are presented for proposals “as is and where is” without warranties as to habitability, suitability or fitness for purpose. It is the responsibility of each interested proposer to inspect or commission an inspection of the property. In this announcement MPLT solicits qualified proposals for the acquired houses listed above. They are not subject to the right of redemption. Below is a photograph and short description of each home as well as the minimum appraised value. Interested proposers may pick up the application packets at the MPLT Office at House No. 1222, Capital Hill; or with the MPLT Loan Administrator (Bank of Saipan) in Chalan Kanoa or at www.mplt.gov.mp The deadline for submission of proposals for any of the houses is Tuesday, July 05, 2016 at 4:00PM. MPLT hereby reserves the right to cancel, modify or reject this RFP and any proposals should the Trustees determine that doing so is in the best interest of the Trust.

MPLT SHIP 003

2-story / 5-Bedroom / 3-bath Concrete House Septic tank system Good Condition Appraised Value $156,000.00 Kannat Tabla Special Condition: Open to all qualified Northern Marianas Descent

MPLT SHIP 014

2-Bedroom / 1-bath Concrete House Septic tank system Good Condition Appraised Value $38,000.00 Kagman III Special Condition: Open to all qualified Northern Marianas Descent first-time homeowner

MPLT SHIP 015

2-story / 4-Bedroom / 3-bath Concrete House Septic tank system Good Condition Sinapalo, Subdivision Appraised Value $50,000.00 Special Condition: Open to all qualified Northern Marianas Descent

MPLT SHIP 017

1 Bedroom 1-bath Concrete House Septic tank system Good Condition Kagman III Appraised Value $48,000.00 Special Condition: Open to all qualified Northern Marianas Descent first-time homeowner

MPLT SHIP 010

2-Bedroom / 1-bath Concrete House Septic tank system Good Condition Kagman III Appraised Value $39,000.00 Special Condition: Open to all qualified Northern Marianas Descent first-time homeowner

MPLT SHIP 018

2 Story/ 5 Bedroom 4-bath Concrete House Septic tank system Good Condition Dan Dan Appraised Value $150,000.00 Special Condition: Open to all qualified Northern Marianas Descent first-time homeowner

Summary of Steps/Requirements:

1. Obtain information on the available house(s) and the valuation from MPLT. MPLT’s office is located at House No. 1222 Capital Hill. The MPLT staff may also e-mail the information and it may be posted on the MPLT website.

2. Obtain SHIP Application Packet, Checklist, and Fill-Out Forms and

information. 3. It shall be a prerequisite for qualification for the SHIP that each applicant

be qualified as a first-time homeowner. An applicant shall provide proof of registration as to a person of Northern Marianas Descent through the NMD Registry program with the CNMI Board of Elections; a notarized affidavit by the applicant that he/she does not have any interest, whether freehold or fee simple, in any CNMI land; and a verified name search from a title company (current within 45 days) showing that the applicant does not own title to nor hold any interest in CNMI land as a grantee.

4. Submit your application packet and materials to the Bank of Saipan,

MPLT Loan Administrator (Attn: Marvin Deleon Guerrero). The Loan Administrator will review your submission and inform you if it is complete. If it is not complete, please provide additional required documents.

5. The Loan Administrator will determine if you qualify and the amount of

your eligibility for the program or “pre-qualification.” For example, based on financial eligibility, you may be deemed eligible for financing or for a house appraised at less than $70,000. At that point you may submit a proposal for any MPLT SHIP home appraised at up to or less than your pre-qualified amount. Any pre-qualification is valid for up to six months. There is no administrative fee, for submission of the application or for pre-qualification review, for any home. The Loan Administrator will issue a Certificate of Financial Eligibility and Amount (for submission with your proposal).

6. Once pre-qualified, you may then submit your proposal to MPLT for the

home you wish to submit for consideration. Complete the SHIP Proposal Form which shall indicate: a) the proposed price; b) down-payment amount (if any); c) term of payment (full payment or amortized not more than 30 years). All proposals shall be submitted in a sealed envelope to MPLT with the outside marked as follows: “MPLT SHIP Program House No. __ “(indicating the house for which the proposer is submitting his/her proposal).

7. Each proposal shall contain the Certification of Eligibility and Certification

of Financial Eligibility from the Loan Administrator.

8. After the deadline closes, the MPLT Trustees shall open proposals for each house for consideration. Each proposal will be considered on the following factors: 1) Price; 2) down payment (if any); 3) term of payment. The best proposal according to these considerations shall be issued a Notice of Award.

9. The awardee shall then confer with the Loan Administrator to proceed to

closing of the transaction as proposed (full pay-off; promissory note; mortgage; etc.). The closing process will follow which shall include the tender of funds; execution of the financing agreement; recordation and tender of the premises.

10. MPLT reserves the right to reject all proposals and re-announce for the

house, at its discretion.

11. Notice is given that any proposer, by submitting his/her proposal, agrees that, if awarded, the proposer shall agree to and shall comply with MPLT requirements including executing any mortgage documents if the proposer/awardee is going to propose a payment term with MPLT; maintaining property insurance coverage for the value of the house during the term of any financing agreement; and a prohibition on any leasehold transfer for a period of ten (10) years after the award.

MPLT SHIP PROGRAM HOUSE NO. SHIP-003 2-story /5 Bedroom Concrete House/ 3 bath, Kannat Tabla Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent. MPLT SHIP PROGRAM HOUSE NO SHIP-010 2 Bedroom Concrete House/ 1 bath, Kagman III Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent first-time

homeowner MPLT SHIP PROGRAM HOUSE NO SHIP-014 2 Bedroom Concrete House/1 bath, Kagman 3 Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent first-time

homeowner MPLT SHIP PROGRAM HOUSE NO SHIP-015 2-story/ 4 Bedroom Concrete House/ 3 bath, Sinapalo, Rota Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent

MPLT SHIP PROGRAM HOUSE NO SHIP-017 1 Bedroom Concrete House/ 1 bath, Kagman III Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent firs-time

homeowner MPLT SHIP PROGRAM HOUSE NO SHIP-018 2 Story/ 5 Bedroom Concrete House/4 bath, Dan Dan Homestead Septic Tank System Special Condition: Open to all qualified Northern Marianas Descent first-time

homeowner

MPLT SHIP PROPOSAL FORM MPLT SHIP PROGRAM HOUSE NO. _____

I, (Proposer’s Name(s)): _________________________, hereby submit the following proposal for the house identified above, owned by MPLT on the following terms: Full payment in the amount of $__________. I propose to purchase the

house for the foregoing amount and tender full payment within ten (10) days of notice of award to me.

MPLT Financing Plan: Down Payment Amount: $______ Monthly Payment Rate: $______

Term of Financing: _________Years Other: Please set forth your proposal in writing below in summary. You may

supplement the information with any additional description or supplemental documents as appropriate.

________________________________________________ ________________________________________________ ACKNOWLEDGEMENT: By submitting this proposal I acknowledge that this is a proposal subject to the discretion of the MPLT Trustees and it is not a bid. I further acknowledge that

MPLT reserves the right to negotiate with me as to my proposal and on terms agreeable to me and to MPLT. I acknowledge and agree that if deemed acceptable I will confer with MPLT to proceed to execution of the appropriate documents for the transaction including closing, execution of documents, recordation, financing agreements, and other requirements. PROPOSER (S): NAME: ____________________ ____________________ ENCLOSURES: 1. Proof of Eligibility Documents. 2. Certification of Financial Eligibility and Amount by MPLT Loan

Administrator.

1 | P a g e Revised: April 15, 2015

MARIANAS PUBLIC LAND TRUST

RESOLUTION OF THE BOARD OF TRUSTEES #10-10 –A-2

A RESOLUTION APPROVING FURTHER POLICY CONDITIONS RELATING TO

THE MPLT HOME LOAN PROGRAM AS TO ITS ADMINISTRATION

______________________________________

RECITALS

WHEREAS, on October 4, 1996 Public Law 10-29, the MPLT-NMHC Home Financing Act, took effect which authorized a loan from the Marianas Public Land Trust for the amount of $10 million dollars to the Northern Marianas Housing Corporation at an interest rate of 6% per annum; and WHEREAS, subsequent litigation ensued in NMHC v. MPLT in which the issue was whether the Home Financing Act violated Article XI of the CNMI Constitution. The Supreme Court ruled that MPLT was only authorized but not required to make a loan to NMHC so there was no issue of the constitutionality of the Act; and WHEREAS, on March 20, 2001 MPLT and NMHC entered into a Consolidated Loan Agreement wherein MPLT desired to make available to NMHC funds for the purpose of extending home loans to low income residents. The consolidated agreement was an extension of the original loan agreement executed on January 23, 1998. The total amount of the consolidated loan was $10,000,000 (Ten Million Dollars); and WHEREAS, NMHC did not have to make payments on the loan as a result of the moratorium imposed pursuant to Public Law 12-27. As a result of the statute, the payments which MPLT would have been paying to the General Fund pursuant to the trust in the Constitution were to be withheld and applied as a credit toward the payments due from NMHC under the loan. This moratorium was ultimately removed with the repeal through Public Law 15-48 in April 2007; and WHEREAS, as a result of a Settlement Agreement between MPLT and NMHC, NMHC transferred and assigned the NMHC accounts and portfolios funded by MPLT pursuant to the Home Financing Act constituting what is now identified as the “MPLT Home Loan Portfolio”; and


WHEREAS, MPLT has taken over the administration of the MPLT Home Loan Portfolio effective February 1, 2008 with the assistance of its Loan Administrator, the Bank of Saipan and its counsel including the substitution of MPLT as Plaintiff in place of NMHC in all pending foreclosure actions; and WHEREAS, since February 1, 2008 the MPLT Trustees have been reviewing the MPLT Home Loan Portfolio to survey the mortgaged properties; evaluate the status of compliance of borrowers; assess the various states of foreclosure actions; consider the delinquency rate; and ensure sufficient insurance coverage for the properties; and WHEREAS, as a result of the file review the MPLT Trustees immediately implemented an across-the-board 2% rate reduction on the annual interest rate effective June, 2008 in order to provide assistance to the borrowers; WHEREAS, in January 2009 the MPLT Trustees approved MPLT Resolution No. 09-01 affording debt relief assistance to the Borrowers through reduction of the interest to 2% per annum; waiver of accrued interest; modification to loans to allow for restructuring of payments; and working with borrowers to rehabilitate their accounts through May 30, 2009; and WHEREAS, as a result of MPLT Resolution No. 09-01 the MPLT Home Loan Portfolio as of November 30, 2009 per the report of the Loan Administrator is at 50.84% current. However, there remain approximately 39 accounts where approximately 18 accounts are over 120 days delinquent but borrowers are making reduced payments; 14 are in serious delinquency without payments; and 5 appropriate for referral for foreclosure action; and WHEREAS, as a result of MPLT Resolution No. 10-3 MPLT authorized the Loan Administrator to afford debt relief and assistance to members of the MPLT Home Loan Portfolio subject to the limits of the Trustees’ fiduciary duties to recover the investment and avoid any loss of principal. Such assistance has included authorizing assignments or substitution of borrowers where such assignees or substitute borrowers are of sound financial standing equal to or better than the original borrower; meeting and conferring with all borrowers to relinquish all interest and title to the real property and residence to MPLT without further proceedings in the form of a Quitclaim Deed and/or settlement agreement in lieu of foreclosure proceedings; whenever possible, modify a loan agreement after legal review and approval by the Trustees to modify or reduce loan payments within a new amortization schedule; and after confirming non-response or unwillingness by a delinquent or non-paying borrower to relinquish


the secured property/house, pursue foreclosure through legal proceedings. WHEREAS, the MPLT Trustees find that the borrowers have been given a full and fair opportunity to maintain and rehabilitate their loan accounts. Unfortunately, several borrowers have defaulted and these accounts have been referred to legal counsel to institute foreclosure proceedings. MPLT has obtained default judgments on several accounts and is pursuing foreclosure on all referred accounts. Within the next few months MPLT will have the right to pursue judicial sale of these properties. While the MPLT Trustees will, by and through this resolution and pursuant to their fiduciary duties, seek to recover the maximum amount of invested funds from an auction, the MPLT Trustees recognize that the current housing market is depressed with little or few bidders and at bids well below the principal owed. With this in mind, the MPLT Trustees, upon recovering properties from foreclosure as a judgment creditor, now wish to be able to provide opportunities for persons of Northern Marianas Descent as first time homeowners to obtain properties foreclosed upon and owned by MPLT to bid and own and rehabilitate these homes as new owners. THEREFORE, in consideration of the foregoing provisions the MPLT Trustees hereby adopt the following resolution to achieve the stated goals of MPLT RESOLVE AS FOLLOWS.

MPLT FORECLOSED OR RECOVERED PROPERTY POLICY: “SUPPLEMENTAL HOME INVESTMENT PROGRAM”

BE IT RESOLVED, that MPLT through the Loan Administrator Bank of Saipan and its legal counsel shall pursue foreclosure proceedings on all referred borrowers who have defaulted on their Mortgage and Promissory Note following the exhaustion of all efforts by the Loan Administrator to rehabilitate such loans; BE IT FURTHER RESOLVED, that MPLT authorizes the following policy and program activities for the MPLT Home Loan Portfolio for its rehabilitation and to afford new or qualified persons of Northern Marianas Descent, to own homes under MPLT’s possession or control pursuant to foreclosure proceedings as new owners on the following policy terms and conditions:

1. Each house/lot foreclosed upon and recovered by MPLT through judicial sale shall be identified and included as MPLT’s asset in its Home Portfolio using the judgment loan amount as the starting valuation.


2. The MPLT Trustees, hereby establish a MPLT Supplemental Home

Investment Program with the purpose of setting criteria and requirements for qualified persons to be able to apply for and obtain the foreclosed properties as new owners of foreclosed homes, subject to any redemption rights by the original borrower and without any warranties.

3. The Loan Administrator (Bank of Saipan) shall follow the criteria based on the standards of qualification of Bank of Saipan for financing SHIP applicants.

4. It shall be a prerequisite for qualification for the SHIP that each

applicant be a person of Northern Marianas Descent pursuant to Article XII of the Northern Marianas Constitution and a first-time homeowner. However, any person of Northern Marianas Descent may qualify under this program if no first-time homeowner is qualified.

5. An applicant shall:

a. provide proof of registration as a person of Northern Marianas Descent issued by the CNMI Board of Elections;

b. and, a first-time homeowner shall provide a notarized affidavit that he/she does not have any interest, whether freehold or fee simple, in any CNMI land;

c. and a verified name search from a title company (current within 45 days) showing that the applicant does not own title to nor hold any interest in CNMI land as a grantee.

6. MPLT shall publish and distribute in the community a “Notice of the

MPLT Supplemental Home Investment Program”. The Notice, however, shall specify explicitly that the program is for qualified applicants; for properties foreclosed upon by MPLT; that such properties are offered without warranties “as is” and “where is”; and that all applicants shall be creditworthy.

7. MPLT shall allow a reasonable period to receive applications and to evaluate those applications.

8. Applicants shall submit their bid proposals to the Loan Administrator.

The Loan Administrator shall inform each applicant and MPLT of the


maximum amount for which an applicant may be able to obtain a home loan or financing. However, the applicant may not bid nor offer an amount for a property of MPLT beyond the pre-qualified sum.

9. MPLT shall not require, as part of the SHIP, any down payment.

10. As to each house/lot, no bid for any property below the appraised

value shall be accepted. It shall be a minimum condition or requirement that every bid shall be at least at the appraised value.

11. Loan Administrator shall compile all qualified applications and submit

such applications, names omitted, to MPLT Trustees for review, ranking, and approval. Thereafter, the Loan Administrator and the highest ranking selected applicant shall execute the Mortgage; Promissory Note; and other documents to complete the transaction.

12. The interest rate shall be 2% fixed on an amortization schedule with

monthly installments, not to exceed 25 years. MPLT shall be the Mortgagee on the agreements and shall maintain its security interest until the loan is fully paid and satisfied.

13. If there are no interested qualified applicants for a particular house/lot

under the SHIP, then MPLT may proceed with an open auction format when a SHIP house/lot has been listed and published by MPLT for proposal at least three times. With the public auction format, MPLT shall publish notice of the property up for auction once a week for at least four consecutive weeks. Two conditions of eligibility are established: 1) each offeror may only be a person of Northern Marianas Descent who offers the highest bid price; and 2) the price is not lower than the appraised value. MPLT may impose other standard requirements for auction such as posting 10% of the bid price upon acceptance of the bid and paying the remaining balance within ten days of acceptance or forfeit the 10% deposit. However, a person of non-Northern Marianas Descent may bid for the house/lot. If a person of non-Northern Marianas Descent submits a bid which is accepted, MPLT may only execute a lease for no more than 55 years pursuant to Article 12 and the reversionary fee simple interest shall remain with MPLT. To ensure that a bidder of Northern Marianas Descent is not being used as a front or strawperson for the purchase of such houses by persons of Non-Northern Marianas Descent, each bidder or selected purchaser shall execute an Affidavit under penalty of perjury


affirming that he/she is acting on his own behalf and for no others.

BE IT FURTHER RESOLVED, that as to each and every property within MPLT’s inventory under the SHIP, the following conditions shall apply as to every transaction, whether by bid or sale:

A. All properties are conveyed “as is, where is” without any warranties whatsoever including, but not limited to, warranties of habitability and fitness for purpose; structural conditions; and safety conditions;

B. All properties conveyed pursuant to this program shall be subject to any existing or valid right of redemption for the defaulting or judgment debtor/borrower for a period of one-year from the date of judgment and that any applicant/bidder/proposer shall take such real properties subject to such statutory requirements without any liability to MPLT for any consequential loss; improvements to the structure; or other expenses;

C. MPLT provides no warranties as to title;

D. MPLT makes no representations or assurances as to any defects of title; the existence of any liens; and any dangers or other conditions pre-existing on the real properties conveyed.

BE IT FURTHER RESOLVED, that the proposer or bidder shall bear the closing costs and administrative costs for the transaction with MPLT including preparation of documents and attorneys’ fees for MPLT. SO AMENDED this 15TH day of April 2015 by unanimous vote of the MPLT Trustees on Saipan, CNMI.

SUPPLEMENTAL HOME INVESTMENT PROGRAM (SHIP) PREQUALIFICATION APPLICATION CHECKLIST

The documents listed below are required for all MPLT Supplemental Home Investment Program (SHIP) mortgage loan prequalification requests. The Marianas Public Lands Trust (MPLT) through its Loan Administrator, Bank of Saipan, wishes to emphasize that the accuracy and complicity of the application along with the necessary supporting documents will help facilitate an expeditious review of your mortgage loan prequalification request.

Uniform Residential Loan Application Credit Authorization Insurance Form Request for Employment Information/Verification Two (2) most recent Payroll Check Stubs Request for Verification of Deposit Request for Verification of Mortgage Loan or Credit Union Request for Verification of Rent Borrower(s)’ Residential Location Map Document(s) on Properties for Collateral such as lease agreements or Deed of the Property.

Annual Tax Returns (1040) for the past three (3) years, with Schedules: A, B, C, D and E

INCOMPLETE CREDIT APPLICATION will not be accepted. However, if a deficient credit application is mailed or dropped by somebody else and not completed in one-week period, the application will be declined.

Credit Application forms may be obtained and submitted at all Bank of Saipan branches. If you have any questions or need information on lending guidelines, please contact Marvin Deleon Guerrero at the Loan Department located at the Main Branch in Chalan Kanoa. The telephone number is (670) 235-6260. The fax number is (670) 235-6294.

Chalan Kanoa Garapan Branch Rota Branch Tinian Branch MAIN OFFICE P.O. Box 500690 P.O. Box 1176 P.O. Box 476 P.O Box 500690 Saipan, MP 96950 Rota, MP 96951 Tinian, MP 96952 Saipan, MP 96950 Phone: (670) 233-6262 Phone: (670) 532-2265 Phone: (670) 433-0332 Phone: (670) 235-6260 Fax: (670) 234-7582 Fax: (670) 532-7267 Fax: (670) 433-0340 Fax: (670) 235-6294 Fax: (670) 235-1802

BANK OF SAIPAN P. O. Box 500690 Saipan, MP 96950 Phone: (670) 235 - 6260 Fax: (670) 235 - 6294

Freddie Mac Form 65 01/04 Page 1 of 4 Fannie Mae Form 1003 01/04

Uniform Residential Loan ApplicationThis application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants should complete this form as “Borrower” or “Co-Borrower,” as applicable.Co-Borrower information must also be provided (and the appropriate box checked) when ❑ the income or assets of a person other than the “Borrower” (including the Borrower’sspouse) will be used as a basis for loan qualification or ❑ the income or assets of the Borrower’s spouse will not be used as a basis for loan qualification, but his or her liabilitiesmust be considered because the Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on otherproperty located in a community property state as a basis for repayment of the loan.

I. TYPE OF MORTGAGE AND TERMS OF LOANMortgageApplied for:

❑ VA❑ FHA

❑ Conventional❑ USDA/Rural

Housing Service

❑ Other (explain): Agency Case Number Lender Case Number

Amount$

Interest Rate%

No. of Months AmortizationType:

❑ Fixed Rate❑ GPM

❑ Other (explain):❑ ARM (type):

II. PROPERTY INFORMATION AND PURPOSE OF LOANSubject Property Address (street, city, state, & ZIP) No. of Units

Legal Description of Subject Property (attach description if necessary) Year Built

Purpose of Loan ❑ Purchase❑ Refinance

❑ Construction❑ Construction-Permanent

❑ Other (explain): Property will be:❑ Primary Residence ❑ Secondary Residence ❑ Investment

Complete this line if construction or construction-permanent loan.

Year Lot Acquired

Original Cost

$

Amount Existing Liens

$

(a) Present Value of Lot

$

(b) Cost of Improvements

$

Total (a + b)

$Complete this line if this is a refinance loan.

Year Acquired

Original Cost

$

Amount Existing Liens

$

Purpose of Refinance Describe Improvements

Cost: $

❑ made ❑ to be made

Title will be held in what Name(s) Manner in which Title will be held Estate will be held in:❑ Fee Simple❑ Leasehold

(show expiration date)Source of Down Payment, Settlement Charges and/or Subordinate Financing (explain)

Borrower III. BORROWER INFORMATION Co-BorrowerBorrower’s Name (include Jr. or Sr. if applicable) Co-Borrower’s Name (include Jr. or Sr. if applicable)

Social Security Number Home Phone (incl. area code) DOB (MM/DD/YYYY) Yrs. School Social Security Number Home Phone (incl. area code) DOB (MM/DD/YYYY) Yrs. School

❑ Married❑ Separated

❑ Unmarried (include single, divorced, widowed)

Dependents (not listed by Co-Borrower) ❑ Married❑ Separated

❑ Unmarried (include single, divorced, widowed)

Dependents (not listed by Borrower)

no. ages no. agesPresent Address (street, city, state, ZIP) ❑ Own ❑ Rent _________No. Yrs. Present Address (street, city, state, ZIP) ❑ Own ❑ Rent _________No. Yrs.

Mailing Address, if different from Present Address Mailing Address, if different from Present Address

If residing at present address for less than two years, complete the following:

Former Address (street, city, state, ZIP) ❑ Own ❑ Rent __________No. Yrs. Former Address (street, city, state, ZIP) ❑ Own ❑ Rent __________No. Yrs.

Borrower IV. EMPLOYMENT INFORMATION Co-BorrowerName & Address of Employer ❑ Self Employed Yrs. on this job Name & Address of Employer ❑ Self Employed Yrs. on this job

Yrs. employed in this line of work/profession

Yrs. employed in this line of work/profession

Position/Title/Type of Business Business Phone (incl. area code) Position/Title/Type of Business Business Phone (incl. area code)

If employed in current position for less than two years or if currently employed in more than one position, complete the following:

Name & Address of Employer ❑ Self Employed Dates (from – to) Name & Address of Employer ❑ Self Employed Dates (from – to)

Monthly Income

$

Monthly Income

$


Name & Address of Employer ❑ Self Employed Dates (from – to) Name & Address of Employer ❑ Self Employed Dates (from – to)

Monthly Income

$

Monthly Income

$



V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION

Gross Monthly Income Borrower Co-Borrower TotalCombined Monthly Housing Expense Present Proposed

Base Empl. Income* $ $ $ Rent $

Overtime First Mortgage (P&I) $

Bonuses Other Financing (P&I)Commissions Hazard Insurance

Dividends/Interest Real Estate Taxes

Net Rental Income Mortgage InsuranceOther (before completing, see the notice in “describe other income,” below)

Homeowner Assn. Dues

Other:

Total $ $ $ Total $ $

* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.

Describe Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if theBorrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.

B/C Monthly Amount

$

VI. ASSETS AND LIABILITIESThis Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joinedso that the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co-Borrower section wascompleted about a spouse, this Statement and supporting schedules must be completed about that spouse also.

Completed ❑ Jointly ❑ Not JointlyASSETS

DescriptionCash or Market

Value

Cash deposit toward purchase held by: $

List checking and savings accounts below

Name and address of Bank, S&L, or Credit Union

Acct. no. $Name and address of Bank, S&L, or Credit Union



Acct. no. $

Stocks & Bonds (Company name/number & description)

$

Life insurance net cash value

Face amount: $

$

Subtotal Liquid Assets $Real estate owned (enter market value from schedule of real estate owned)

$

Vested interest in retirement fund $Net worth of business(es) owned (attach financial statement)

$

Automobiles owned (make and year) $

Other Assets (itemize) $

Total Assets a. $

Liabilities and Pledged Assets. List the creditor’s name, address and account number for all outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities which will be satisfied upon sale of real estate owned or upon refinancing of the subject property.

LIABILITIESMonthly Payment & Months Left to Pay Unpaid Balance

Name and address of Company $ Payment/Months $

Acct. no.


Acct. no.


Acct. no.


Acct. no.


Acct. no.


Acct. no.


Acct. no.

Alimony/Child Support/Separate Maintenance Payments Owed to:

$

Job-Related Expense (child care, union dues, etc.) $

Total Monthly Payments $Net Worth(a minus b) $ Total Liabilities b. $➧


dddfdd

VI. ASSETS AND LIABILITIES (cont.)Schedule of Real Estate Owned (If additional properties are owned, use continuation sheet.) Insurance,Property Address (enter S if sold, PS if pending sale or R if rental being held for income)

Type ofProperty

PresentMarket Value

Amount ofMortgages & Liens

GrossRental Income

MortgagePayments

Maintenance,Taxes & Misc.

NetRental Income

$ $ $ $ $ $

Totals $ $ $ $ $ $List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s):

Alternate Name Creditor Name Account Number

VII. DETAILS OF TRANSACTION VIII. DECLARATIONSa. Purchase price $ If you answer “Yes” to any questions a through i, please use continuation

sheet for explanation.Borrower Co-Borrower

b. Alterations, improvements, repairs Yes No Yes No

c. Land (if acquired separately) a. Are there any outstanding judgments against you? ❑ ❑ ❑ ❑d. Refinance (incl. debts to be paid off) b. Have you been declared bankrupt within the past 7 years? ❑ ❑ ❑ ❑e. Estimated prepaid items c. Have you had property foreclosed upon or given title or deed in lieu thereof

in the last 7 years?❑ ❑ ❑ ❑

f. Estimated closing costs

g. PMI, MIP, Funding Fee d. Are you a party to a lawsuit? ❑ ❑ ❑ ❑h. Discount (if Borrower will pay) e. Have you directly or indirectly been obligated on any loan which resulted in

foreclosure, transfer of title in lieu of foreclosure, or judgment?(This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee. If “Yes,” provide details, including date, name and address of Lender, FHA or VA case number, if any, and reasons for the action.)

❑ ❑ ❑ ❑i. Total costs (add items a through h)

j. Subordinate financing

k. Borrower’s closing costs paid by Sellerl. Other Credits (explain) f. Are you presently delinquent or in default on any Federal debt or any other

loan, mortgage, financial obligation, bond, or loan guarantee?If “Yes,” give details as described in the preceding question.

❑ ❑ ❑ ❑

g. Are you obligated to pay alimony, child support, or separate maintenance? ❑ ❑ ❑ ❑m. Loan amount

(exclude PMI, MIP, Funding Fee financed)h. Is any part of the down payment borrowed? ❑ ❑ ❑ ❑i. Are you a co-maker or endorser on a note? ❑ ❑ ❑ ❑

n. PMI, MIP, Funding Fee financed j. Are you a U.S. citizen? ❑ ❑ ❑ ❑k. Are you a permanent resident alien? ❑ ❑ ❑ ❑

o. Loan amount (add m & n) l. Do you intend to occupy the property as your primary residence?If “Yes,” complete question m below.

❑ ❑ ❑ ❑

m. Have you had an ownership interest in a property in the last three years? ❑ ❑ ❑ ❑p. Cash from/to Borrower

(subtract j, k, l & o from i)(1) What type of property did you own—principal residence (PR),

second home (SH), or investment property (IP)? __________ __________(2) How did you hold title to the home—solely by yourself (S),

jointly with your spouse (SP), or jointly with another person (O)? __________ __________

IX. ACKNOWLEDGMENT AND AGREEMENTEach of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assignsand agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional ornegligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due toreliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisionsof Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the propertydescribed herein; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining aresidential mortgage loan; (5) the property will be occupied as indicated herein; (6) any owner or servicer of the Loan may verify or reverify any information contained in theapplication from any source named in this application, and Lender, its successors or assigns may retain the original and/or an electronic record of this application, even if the Loanis not approved; (7) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I amobligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of theLoan; (8) in the event that my payments on the Loan become delinquent, the owner or servicer of the Loan may, in addition to any other rights and remedies that it may haverelating to such delinquency, report my name and account information to one or more consumer credit reporting agencies; (9) ownership of the Loan and/or administration of theLoan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made anyrepresentation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an "electronicrecord" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimiletransmission of this application containing a fascimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containingmy original written signature. Borrower’s Signature Date Co-Borrower’s Signature Date

X XX. INFORMATION FOR GOVERNMENT MONITORING PURPOSES

The following information is requested by the Federal Government for certain types of loans related to a dwelling in order to monitor the lender's compliance with equal creditopportunity, fair housing and home mortgage disclosure laws. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender maydiscriminate neither on the basis of this information, nor on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race, youmay check more than one designation. If you do not furnish ethnicity, race, or sex, under Federal regulations, this lender is required to note the information on the basis of visualobservation or surname. If you do not wish to furnish the information, please check the box below. (Lender must review the above material to assure that the disclosures satisfyall requirements to which the lender is subject under applicable state law for the particular type of loan applied for.) BORROWER ❑ I do not wish to furnish this information. CO-BORROWER ❑ I do not wish to furnish this information.Ethnicity: ❑ Hispanic or Latino ❑ Not Hispanic or Latino Ethnicity: ❑ Hispanic or Latino ❑ Not Hispanic or LatinoRace: ❑ American Indian or

Alaska Native❑ Asian ❑ Black or

African AmericanRace: ❑ American Indian or

Alaska Native❑ Asian ❑ Black or

African American

❑ Native Hawaiian orOther Pacific Islander

❑ White ❑ Native Hawaiian orOther Pacific Islander

❑ White

Sex: ❑ Female ❑ Male Sex: ❑ Female ❑ MaleTo be Completed by InterviewerThis application was taken by:❑ Face-to-face interview❑ Mail❑ Telephone❑ Internet

Interviewer’s Name (print or type) Name and Address of Interviewer’s Employer

Interviewer’s Signature Date

Interviewer’s Phone Number (incl. area code)

➧


Continuation Sheet/Residential Loan ApplicationUse this continuation sheet if you need more space to complete the Residential Loan Application. Mark B for Borrower or C for Co-Borrower.

Borrower: Agency Case Number:

Co-Borrower: Lender Case Number:

I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicableunder the provisions of Title 18, United States Code, Section 1001, et seq.

Borrower’s Signature Date Co-Borrower’s Signature Date

X X

CREDIT AUTHORIZATION

I hereby authorize Bank of Saipan to verify my past and present employment earnings records, bank accounts, stock holdings and any other asset balances that are needed to process my mortgage loan application. I further authorize Bank of Saipan to order a consumer credit report to verify all my/our credit information, including past and present credit histories, landlord references, and to obtain loan payoff figure as needed. A photocopy or facsimile copy of this form will also serve as authorization. The information the lender obtains is only to be used in the processing of my application for a mortgage loan, and/or in the performance of post-closing quality control review of my application. Privacy Act Notice: This Credit/History Authorization is to be used by the bank and its representative(s) to determine whether you qualify as a prospective mortgagor under its mortgage program. It will not be disclosed outside the agency except to your employers(s) for verification of employment, landlord(s) for verification of rents, and to financial institutions for verification of your deposit(s) or loan(s) and as required and permitted by law. You do not have to give us this information, but if you do not, your application for approval as a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by title; by 12 USC, Section 1701 et. Seq. (if HUD/FHA); and Title 42 USC, 1471 et. Seq., or 7 USC, 1921 et. Seq. (if USDA FmHA) For HUD/FHA Loans: NOTICE TO BORROWERS: This is a notice to you as required by the Right to Financial Privacy Act of 1978 that HUD/FHA has a right to access to financial records held by financial institutions in connection with the consideration or administration of assistance to you. Financial records involving your transaction will be available to HUD/FHA without further notice or authorization but will not be disclosed or released by this institution to another Government Agency or Department without your consent except as required or permitted by law. Borrower Borrower

Bank of Saipan P. O. Box 500690 Saipan, MP 96950 Phone: (670) 235-6260 Fax: (670) 235-6294

BANK OF SAIPAN P. O. Box 500690 Saipan, MP 96950 Phone: (670) 235-6260 Fax: (670) 235-6294

INSURANCE FORM Credit Life Insurance, Credit Disability Insurance and Life Insurance are not required to obtain credit and will not be provided unless you request the insurance and agree to pay the additional cost by checking the appropriate box below and signing your name at the bottom. Yes; I/We do want Credit Life Insurance. (Please answer the questions below.) Yes; I/We do want Credit Life and Disability Insurance.

(Please answer the questions below.) Yes; I/We do want Life Insurance.

(This Life Insurance will not be added to the loan and physical Examination will be required.) (Please answer the medical questions below.)

No; I/We do not want Credit Life, Disability Insurance nor Life Insurance.

If you are applying for the optional Insurance marked above, have you ever had, been told you have, or been treated within the past two (2) years for any of the following: Heart - Heart attack, blood clot, stroke, arteriosclerosis Yes No

Cancer/Malignancy – carcinoma, leukemia, melanoma Yes No

Immunological Disorders – Acquired Immune Deficiency (AIDS) Yes No

Immune Deficiency Disorder AIDS or the AIDS Related Complex (ARC)

NOTE (If Borrower and/or Co-Borrower are applying for Credit Life and/or Disability Insurance, please read below.): You are NOT eligible if you marked yes on any of the three (3) questions above. You are NOT eligible for insurance if you have reached your 65th birthday. You are eligible for Disability Insurance only if you are working for wages or profit 30

hours a week or more on the Effective Date. Your co-borrower is not eligible for Disability Insurance.

___________________________ _____________ _________________

Primary Borrower (Signature) Age Date

___________________________ _____________ _________________ Co-Borrower (Signature) Age Date

TO: (Name & Address of Employer)

Date:

REGARDING: "REQUEST FOR EMPLOYMENT INFORMATION"

Dear Employer:

Regards, (Name and Address of Applicant)

Social Security No.:(Signature of Applicant)

Questions below are strictly for the Employer Representative only.1. Is applicant currently employed? Yes No

2. Total time employed. Years Mos.

3. Employment contract expiration date (if it applies to this applicant)

4. Position or Job Title.

5. Gross monthly income. (if commissions are involved, explain method of computation and % of the gross income they represent) $

6. Total deductions, including credit union payments. $

7. Work satisfactory? If yes, and presently employed by you, Yes No are prospect of employment permanent? Yes No

8. Any other information which can assist us in passing credit:

Employer Representative (Print Name and Signature) Title

I have applied for credit with Bank of Saipan and stated that I am employed by you. My signature authorizesverification of the information requested below.

Date

Employment VerificationBANK OF SAIPAN P. O. Box 500690 Saipan, MP 96950 Phone: (670) 235-6260 Fax: (670) 235-6294

Fannie Mae Form 1006 July 96

Request for Verification of Deposit Privacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program. It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approval as a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC, Chapter 37 (If VA); by 12 USC, Section 1701 et.seq. (If HUD/FHA); by 42 USC, Section 1452b (if HUD/CPD); and Title 42 USC, 1471 et.seq. or 7 USC, 1921 et.seq. (If USDA/FmHA). Instructions: Lender – Complete Items 1 through 8. Have applicant(s) complete Item 9. Forward directly to depository named in Item 1. Depository – Please complete Items 10 through 18 and return DIRECTLY to lender named in Item 2. The form is to be transmitted directly to the lender and is not to be transmitted through the applicant(s) or any other party. Part 1 – Request 1. To (Name and address of depository) 2. From (Name and address of lender) I certify that this verification has been sent directly to the bank or depository and has not passed through the hands of the applicant or any other party. 3. Signature of lender 4. Title 5. Date 6. Lender’s No. (Optional) 7. Information To Be Verified Type of Account Account in Name of Account Number Balance $ $ $ To Depository: I/We have applied for a mortgage loan and stated in my financial statement that the balance on deposit with you is as shown above. You are authorized to verify this information and to supply the lender identified above with the information requested in Items 10 through 13. Your response is solely a matter of courtesy for which no responsibility is attached to your institution or any of your officers. 8. Name and Address of Applicant(s) 9. Signature of Applicant(s) To Be Completed by Depository Part II – Verification of Depository 10. Deposit Accounts of Applicant(s) Average Balance for Type of Account Account Number Current Balance Previous Two Months Date Opened $ $ $ $ $ $ 11. Loans Outstanding To Applicant(s) Installments Number of Loan Number Date of Loan Original Amount Current Balance (Monthly/Quarterly) Secured By Late Payments $ $ $ per $ $ $ per $ $ $ per 12. Please include any additional information which may be of assistance in determination of credit worthiness. (Please include information on loans paid-in-full in Item 11 above.) 13. If the name(s) on the account(s) differ from those listed in Item 7, please supply the name(s) on the account(s) as reflected by your records. Part III – Authorized Signature – Federal statutes provide severe penalties for any fraud, intentional misrepresentation, or criminal connivance or conspiracy purposed to influence the issuance of any guaranty or insurance by the VA Secretary, the U.S.D.A., FmHA/FHA Commissioner, or the HUD/CPD Assistant Secretary. 14. Signature of Depository Representative 15. Title (Please print or type) 16. Date 17. Please print or type name signed in item 14 18. Phone No.

Fannie Mae Form 1006 July 96

Instructions

Verification of Deposit The lender uses this form for conventional first or second mortgages to verify the cash deposits that the applicant listed on the loan application. Copies Orginal only. Printing Instructions This form must be printed on letter size paper, using portrait format. When printing this form, you must use the “shrink to fit” option in the Adobe Acrobat print dialogue box. Instructions The applicant must sign this form to authorize his or her depository to release the requested information. Separate forms should be sent to each depository named in the loan application. However, rather than having the applicant sign multiple forms, the lender may have the applicant sign a borrower’s signature authorization form, which gives the lender blanket authorization to request the information it needs to evaluate the applicant’s creditworthiness. When the lender uses this type of blanket authorization, it must attach a copy of the authorization form to each Form 1006 it sends to the depository institutions in which the applicant has accounts. For First Mortgages The lender must send the request directly to the depositories. We will not permit the borrower to hand-carry the verification form. The lender must receive the completed form directly from the depositories. The completed form should not be passed through the applicant or any other party. For Second Mortgages The borrower may hand-carry the verification to the depositories. The depositories will then be required to mail this form directly to the lender. The lender retains the original form in its mortgage file. Instructions Page

Request for Verification of Mortgage Loan or Credit UnionPrivacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program.It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approvalas a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC, Chapter 37 (If VA); by 12 USC, Section 1701 et. seq. (if HUD/FHA); by 42 USC, Section 1452b (if HUD/CPD); and Title 42 USC, 1471 et. seq., or 7 USC, 1921 et. seq. (if USDA/FmHA).Instructions: Lender Complete Items 1 through 8. Have applicant(s) complete Part I, Item 9, and forward directly to Creditor named in Part I, Item 1.

Landlord/Creditor Please complete Part II, and return directly to Lender named in Part I, Item 2.The form is to be transmitted directly to the lender and is not to be transmitted through the applicant or any other party.

Part I - Request1. To (Name and address of Mortgage Holder/Credit Union/Landlord) 2. From (Name and Address of Lender)

3. Signature of Lender 4. Title 5. Date 6. Lender's No. (Optional)

7. Information to be Verified

Property Address Account in Name of: Loan (Account) Number

8. Name and Address of Applicant(s) 9. Signature of Applicant(s)

Part II - To Be Completed by Mortgagee/Creditor

XX

10. ORIGINAL LOAN AMOUNT ORIGINATION DATE 11. MONTHLY PAYMENT Includes:TaxesInsurance

YES NO

YES NO$ $

12. PRESENT LOAN BALANCE DATE OF MATURITY 13. TYPE OF LOAN (Check one)

$ FHA VA CONVENTIONAL

14. Specify number of late payments in the past 12 months: ____________

15. Is account current YES NO

16. REMARKS

17. SIGNATURE OF MORTGAGEE 18. TITLE OF MORTGAGEE 19. DATE

RETURN DIRECTLY TO LENDERGENESIS 2000, INC. * W15.0 * (800) 882-0504 Form VOM-2 (03/95)

We have received an application for a loan from the above, to whom we understand you have extended a loan or rent. In addition to the information requested below please furnish us with any information you might have that will assist us in processing this loan.

Request for Verification of RentPrivacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program.It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approvalas a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC, Chapter 37 (If VA); by 12 USC, Section 1701 et. seq. (if HUD/FHA); by 42 USC, Section 1452b (if HUD/CPD); and Title 42 USC, 1471 et. seq., or 7 USC, 1921 et. seq. (if USDA/FmHA).Instructions: Lender Complete Items 1 through 8. Have applicant(s) complete Part I, Item 9, and forward directly to Creditor named in Part I, Item 1.

Landlord/Creditor Please complete Part II, and return directly to Lender named in Part I, Item 2.The form is to be transmitted directly to the lender and is not to be transmitted through the applicant or any other party.

Part I - Request1. To (Name and address of Mortgage Holder/Credit Union/Landlord) 2. From (Name and Address of Lender)

3. Signature of Lender 4. Title 5. Date 6. Lender's No. (Optional)

7. Information to be Verified

Property Address Account in Name of:

8. Name and Address of Applicant(s) 9. Signature of Applicant(s)

PART II - VERIFICATION OF RENT

XX

We have received an application for a loan from the above, to whom we understand you rent. In addition to the information requestedbelow please furnish us with any information you might have that will assist us in processing of the loan.

Tenant rented from: _________/_________/_________

To: _________/_________/_________

Amount of rent $ __________________per___________

Number of late payments_________________________

Is account satisfactory? Yes____________No__________

_______________________________________________

_______________________________________________

_______________________________________________

*Payment History for the previous 12 months must be provided in order to comply with secondary mortgage market requirements.

ADDITIONAL INFORMATION WHICH MAY BE OF ASSISTANCE IN DETERMINATION OF CREDIT WORTHINESS

SIGNATURE OF LANDLORD/RENTAL AGENT TITLE DATE

GENESIS 2000, INC. * W15.0 * (800) 882-0504 Form VOR-2 (03/95)

BORROWER(S) RESIDENTIAL LOCATION MAPBy signing below, I/We certify that the following residential location map provided to Bank of Saipan is true and accurate.

Applicant (Signature) Spouse/Co-Applicant (Signature)

Residential Location Map must accompany loan application prior to review of the application.

BANK OF SAIPANP. O. Box 500690 Saipan, MP 96950 Phone: (670) 235-6260 Fax:

(670) 235-6294

BANK OF SAIPAN Personal Financial Statement

NAME: PHONE: ( ) FIRST MIDDLE INITIAL LAST AREA CODE

ADDRESS: STREET CITY STATE ZIP CODE

SOCIAL SECURITY NO.: DATE OF BIRTH: PRESENT EMPLOYER: POSITION: HOW LONG: ADDRESS: STREET CITY STATE ZIP CODE

YOU MAY APPLY FOR CREDIT EXTENSION OR FINANCIAL ACCOMODATION

SEPARATELY OR JOINTLY Are you requesting this financial accommodation: SEPARATELY? JOINTLY WITH YOUR SPOUSE? JOINTLY WITH ANOTHER PERSON? (Please submit separate financial statements for each person.)

Marital Status (answer only if this financial statement is provided in Married Separated connection with a request for secured credit or if you live in a Unmarried (unmarried includes community property state, such as California): single, divorced, widowed) Reflect in this statement the financial condition of your spouse as well as your own financial condition if:

1. You are seeking this financial accommodation jointly with your spouse, or 2. You are relying on your spouse’s assets or income in requesting this financial accommodation, or 3. You live in a community property state like California.

IN ADDITION, IF YOU ARE APPLYING JOINTLY WITH YOUR SPOUSE, PLEASE COMPLETE THE FOLLOWING:

NAME: PHONE: ( ) FIRST MIDDLE INITIAL LAST AREA CODE

ADDRESS: STREET CITY STATE ZIP CODE

SOCIAL SECURITY NO.: DATE OF BIRTH: PRESENT EMPLOYER: POSITION: HOW LONG: ADDRESS: STREET CITY STATE ZIP CODE

DATE OF VALUATIONS

ASSETS AMOUNT LIABILITIES AMOUNT Cash in Bank of Saipan Accounts Payable Cash in Other Banks (Detail) Notes Payable to Bank of Saipan Notes Payable to Others (Schedule 7) Accounts Receivables Income Taxes Payable Notes Receivables (Schedule 1) Other Taxes Payable Mortgages & Deeds of Trust Owned (Sched. 2) Securities Owned (Schedule 3) Cash Surrender Value of Life Insur. (Sched. 4) Loans on Life insurance (Schedule 4) Real Estate (Schedule 5) Mortgages or Liens on Real Estate (Schedule 6) Automobiles Installment Contracts Payable Personal Property Other Liabilities (Detail) Other Assets (Detail) TOTAL LIABILITIES NET WORTH

TOTAL TOTAL

ANNUAL INCOME ANNUAL EXPENDITURES CONTINGENT LIABILITIES Employment Income Property Taxes/Assessments As Endorser Income and Other Taxes As Guarantor Dividends Mortgage Payments & Interest On Damage Claims Interest Other Contract Payments For Taxes Rentals Insurance Other (Detail) Alimony, child support or separate maintenance (you need not show this income unless you with us to consider it).

Living Expense Alimony, child support/maint. Other

Other Check here If “None”

TOTAL INCOME TOTAL

EXPENDITURES TOTAL

CONTINGENT LIABILITIES

SCHEDULE 1 Notes Receivables Name of Debtor Collateral Payable Maturity Date Total Amount Due

$ per $ per $ per

TOTAL

SCHEDULE 2 Mortgage and Deeds of Trust Owned

Name of Debtor Type of Property 1st or 2nd Lien Value of Property How Payable Unpaid Balance $ per $ per $ per $ per

TOTAL

• List all amounts in dollars. Omit cents. • Please attach a separate sheet if you need more

Space to complete a detail schedule

SCHEDULE 3 Securities Owed No. Shares

or Bond Amount

Description Title In Name of How Held

Code*

Amount at Which Carried

on this Statement

Present Market Value

L-Listed U-

Unlisted

TOTAL SCHEDULE 4 Life Insurance

Insured Face Amount of Policy Insurance Company Beneficiary Cash Value Loans

TOTAL

SCHEDULE 5 Mortgages of Liens on Real Estate

Address and Type of Property Title in Name of How Held Code

Monthly Income

Cost Year Acquired

Present Market Value

Total Balance Owed (Detail in

Schedule 6)

$

$

$

$

SCHEDULE 6 Mortgage or Liens on Real Estate

To Whom Payable

Indicate 1st or 2nd Mortgage

How Payable Interest

Rate Maturity Date Balance Owing

$ per $ per $ per $ per $ per

SCHEDULE 7 Notes Payable

To Whom Address Collateral Interest Rate Unpaid Balance

How Held

Codes

COMMUNITY PROPERTY SEPARATE PROPERTY (indicate applicable abbreviation)

ALWAYS INDICATE "CP" "SO" - SINGLE OWNERSHIP "IT" - JOING TENANTS "TIC" - TENANTS IN COMMON

TOTAL

Year

Year

Year

Year

Have you ever gone through bankruptcy or had a judgment against you? Yes No

Are any assets pledged or debts secured except as shown? Yes No

Have you made a will? Yes No

Are you self-employed? Yes No If so, please attach a signed copy of your last three years individual income Tax Return. (Form 1040)

YOUR REPRESENATAIONTS AND WARRANTIES

I understand that Bank of Saipan is relying on the information in this financial statement (including the designation of my property as separate or community property) in deciding to give or continue the financial accommodation or extension of credit I have requested or received. I promise that this is a true statement of my financial condition as of the date of valuations. You may rely on it as being true and correct until I otherwise notify you in writing. If this statement is not true in any material respect, or if I should die, file for bankruptcy, if any other creditor tries to seize my property, or if any adverse change occurs in my financial condition, at your election any or all of my indebtedness and obligations to you, direct or contingent, shall become immediately due and payable without demand or notice. You may retain this statement, and I authorize you to verify any of the information from whatever source you deem appropriate. I understand that from time to time you may receive information about me from others and may answer questions and request from other seeking credit and experience information about me and my relationships with you, but that you will try to protect our confidential relationship in handling other requests, like those from government agencies. If this is a joint financial statement, these representations and warranties are from each of us.

I HAVE READ, UNDERSTAND AND AGREE TO MAKE THESE REPRESENTATIONS AND WARRANTIES.

Date Your Signature Date Your Spouse’s Signature (if you are requesting the financial accommodation Jointly with your spouse)

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