of TEACHER’S UNION CO-OPERATIVE THRIFT & CREDIT LTD. Hereby bind myself to pay to the FIJI TEACHER’S UNION CO-OPERATIVE THRIFT & CREDIT LTD. (hereinafter referred to as Credit Union) the sum of

2. As per the AGM resolution the entire loan shall be automatically secured via IMPs up-till the age of 55 years. IMPs will not cover the loans security for unnatural death..

3. If any of the installments provided for in paragraph 1 is not paid within seven days from the date on which it becomes payable, the FTU-CTCL shall have the right to demand payment forthwith of the outstanding balance of the principal sum and the interest up to the date of payment.

4. If at any time I cease to be member of the FTU-CTCL the balance of the principal sum remaining outstanding at such time shall automatically become payable and be paid forthwith together with interest up to the date of repayment.

5. I shall have the right to repay the outstanding balance of the debt under this Bond at any time before the expiration of the period stipulated in section1 hereof in which event interest shall be paid only up to the date of the repayment.

6. I undertake to utilize the amount borrowed for the purpose I mentioned in my loan application to the Committee of the FTU-CTCL for the grant of this loan.

7. In the event of the FTU-CTCL taking any legal proceeding against me on this bond I undertake to pay all the costs thereof and connected therewith.

8. Interest Rate Subject to Changes by the A.G.M. of the FTU-CTCL.