Amendment of First Schedule. Schedules:- Schedule 1 — Scheduled Corporations Schedule 2 — Regulations under the Government Housing Loans Act Schedule 3 — Deed of Mortgage Schedule 4 — Memorandum of Charge and Discharge on Gratuity Government Housing Loans 5

The First Schedule hereto may be amended by Order of the Minister adding to, deleting from or varying such Schedule, provided that no such Order shall take effect until approved by resolution of the National Assembly and published in the Gazette. 19 SCHEDULE 1 GOVERNMENT HOUSING LOAN ACT Scheduled Corporations [Section 2] Belize City Council. Belmopan City Council. Town Councils. Village Councils. Other Public Statutory Bodies. 20 Government Housing Loans SCHEDULE 2 GOVERNMENT HOUSING LOAN ACT Regulations under the Government Housing Loans Act [Section 24] 1. These Regulations may be cited as the Government Housing Loans Regulations. Age qualification for loans. 2. No loan shall be made to any borrower who is less than 21 years of age. Other qualifications for loans specified. 3. Save in special circumstances, no loan shall be made to any borrower in respect of more than one house, and no loan shall be made to a borrower for the purpose of acquiring a house from his wife or for the purpose of acquiring a house if he or his wife already owns a house. Maximum loan amount. 4. No loan shall exceed a sum equal to five times the annual salary of the borrower. Relationship between maximum loan amount and value of land and house. 5. No loan shall exceed a sum equal to 80 per centum of the Board’s estimate of the value of the house and land concerned or, if the borrower is over 45 years of age, 70 per centum of the said estimate. Provided that in any case in which the Board is secured by insurance on the life of the borrower to cover outstanding balances the loan may be a sum not exceeding 95 per centum of the said estimate. Board to approve building plans. 6. No loan shall be made until the building site and the building or buildings erected or to be erected thereon have been approved by the Board. The prospective borrower shall cause plans and specifications of any new building to the satisfaction of the Board, to be supplied to the Board. Government Housing Loans 21 7. The prospective borrower shall, if so required by the Board, supply the Board with an abstract of title to the land and shall comply with all requisitions as to title made on behalf of the Board. Borrower may supply title of land to Board upon request. Inspections by Board. 8. The prospective borrower shall on demand permit any person acting on behalf of the Board and authorised thereunto in writing under the hand of the Secretary of the Board to enter and inspect any land or building under his possession or control and in connection with which he has applied for a loan. Payments by insurance premiums; how made. 9. Insurance effected on the life of a borrower in accordance with section (2) (b) of the Act shall secure payment of the sum determined by the Board on the death of the policy holder occurring in any year during which part of the loan is outstanding and shall be by payment of a single premium payable at the commencement of the insurance to cover a diminishing risk. 10. Every loan shall be repayable within a period of no more than 20 years. Duration of loan. 11.-(1) Any sum payable by an employee to the Board by virtue of this Act may be deducted by the paying authority concerned from the salary of such employee, but subject always to any general or special directions which may be given by the Minister. Reports and audited accounts to be forwarded annually to the Financial Secretary (2) No such deduction shall be made by a paying authority except in accordance with a certificate as to the amount payable and the date on which it is payable under the hand of the Secretary of the Board. (3) Any sum deducted by a paying authority shall be paid to the Board. 12. Minutes of every meeting of the Board shall be kept and on being confirmed by the Board, shall be signed by the Chairperson. Minutes of meetings of the Board. 22 Government Housing Loans 13. The accounts of the Board shall be kept in a form approved by the Accountant General. Minutes of meetings of the Board. Government Housing Loans 23 SCHEDULE 3 GOVERNMENT HOUSING LOAN ACT Deed of Mortgage [Section 14] 1. MEMORANDUM OF CHARGE made this day of , 20 by of (hereinafter called the Borrower) in favour of the Government Housing Loans Board, incorporated under the Government Housing Loans Act, Cap. 72, (hereinafter called the Board). 2. WHEREAS the Borrower is seised in fee simple in possession free from encumbrances of the land specified in the Schedule hereto and has applied to the Board for a loan under the provisions of the said Act which loan the Board has agreed to make upon the terms and conditions and in manner hereinafter appearing. 3. WITNESSETH AS follows, In pursuance of the agreement and in consideration of the sum of $ now lent by the Board to the Borrower (the receipt of which sum is hereby acknowledged) the Borrower hereby covenants with the Board to pay to the Board the said sum of $ with interest thereon at the rate of per centum per annum by monthly instalments of principal and interest combined at the rate of in respect of every thousand Dollars, Provided that if default is made by the Borrower in payment of any instalment of principal and interest or if he shall commit a breach of any covenant or obligation herein contained or if any event shall arise whereby the Board may exercise the power of sale the whole of the principal money then outstanding shall 24 Government Housing Loans become immediately due and payable with interest thereon at the rate aforesaid. 4. WHEREAS the Borrower is seised in fee simple in possession free from encumbrances of the land specified in the Schedule hereto and has applied to the Board for a loan under the provisions of the said Act to be applied in or towards the purposes following that is to say, the erection and completion of the buildings set out in a plan and specifications (hereinafter referred to as the “Contract”) submitted to and approved by the Board on the land which loan the Board has agreed to make upon the terms and conditions in manner hereinafter appearing. AND WHEREAS it was further agreed that the sum of $ should be lent to the Borrower on the execution of these presents and that the sum of $ should be lent to the Borrower in the manner and subject to the conditions hereinafter appearing. 5. WITNESSETH as follows, In pursuance of the agreement and in consideration of the sum of $ now lent by the Board to the Borrower (the receipt of which sum is hereby acknowledged) and of the agreement of the Board for the further loan to the Borrower of the sum of $ the Borrower hereby covenants with the Board to pay to the Board interest at the rate of per centum per annum on all such loans from the dates thereof until the completion of the buildings according to the Contract and from and after the last mentioned date the Borrower hereby covenants with the Board to pay to the Board the total amount of such loans with interest thereon at the rate of per centum per annum by monthly instalments of principal and interest combined at the rate of in respect of every thousand dollars, Provided that if default is made by the Borrower in payment of any instalment of principal and interest or if he shall commit a breach of any covenant or obligation herein contained or if any event shall arise whereby the Board may exercise the power of Government Housing Loans 25 sale the whole of the principal money then outstanding shall become immediately due and payable with interest thereon at the rate aforesaid. 6. The further loan of $ above-mentioned shall be made by instalments, on certificates of the Chief Engineer or of an officer of his department authorised by him in that behalf as to the value of the work from time to time executed in pursuance of the Contract, in accordance with the scale set out in this Schedule. Provided that if at any time prior to the payment of the final instalment mentioned in the said Schedule any event shall arise whereby the Board may exercise the power of sale the Board may decline to pay any further instalments and may exercise any or all the powers available to mortgagees for enforcing payment of their securities. 7. The Borrower hereby covenants as follows, (1) That as long as any money remains due under these presents the Borrower will keep all the buildings on the land in good and substantial repair to the satisfaction of the Board. And if the Borrower shall fail or neglect to do so after due notice in writing thereof to him the Board may thereupon enter upon the premises and execute such repairs as may be necessary to comply with the above obligation. And the Borrower will on demand repay to the Board all the expenses thereby incurred by the Board and will pay interest at the rate of per centum per annum from the date of the demand until repayment, and all such expenses and interest until repayment shall be charged on the land. (2) That so long as any money remains due under these presents the Borrower will keep all the buildings and out- offices insured in the name of the Board against loss or damage caused by fire in the sum of $ at least with some insurance office approved by the Board and will make all payments required for the purpose as and when the same shall 26 Government Housing Loans become due and will when required by the Board deliver for safe keeping by the Board the policy or policies of such insurance and the receipt for each such payment. And if the Borrower shall fail to perform any of his obligations under this paragraph and if the Board shall thereupon insure the said buildings or any of them in any amount not exceeding $ the Borrower will on demand repay to the Board all payments made for that purpose and will pay interest at the rate of per centum per annum from the date of demand until repayment and all moneys not repaid on demand as aforesaid and all such moneys and interest shall be charged on the land. (3) That during the continuance of this charge the Borrower will pay and discharge all rates, taxes, duties, charges, assessments, impositions and outgoings whatsoever which shall be assessed, charged or imposed upon or payable in respect of the land or any part thereof by the Borrower, and if the Borrower shall at any time neglect or refuse to make such payments or to deliver the receipt therefore to the Board on demand the Board may pay the same and the Borrower will on demand repay to the Board all payments made for that purpose and will pay interest at the rate of per centum per annum from the date of demand until repayment and all moneys not repaid on demand as aforesaid and all such moneys and interest shall be charged on the land. (4) That as long as any money remains due under these presents the Borrower shall not exercise any powers of leasing or letting the land or selling or otherwise disposing of the same or any part thereof except with the consent in writing of the Board. (5) That during the continuance of the charge hereby created the Borrower will comply with the provisions of the Act and with all regulations made there under. (6) That the Borrower will complete the building within from the date hereof according to the Contract. Government Housing Loans 27 8. PROVIDED ALWAYS and it is hereby agreed as follows, The Borrower may pay off all or any number of instalments on account of the principal money for the time being owing, Provided that upon such payment the interest on the whole principal money for the time being owing be fully paid and that such partial payment by anticipation shall not interfere with the payment in regular course of the instalments of principal and interest subsequently payable but shall only have the effect of accelerating the ultimate payment of the moneys remaining owing on this charge. Certified value of the Instalment in dollars work in dollars 28 Government Housing Loans Form 1 SCHEDULE 4 THE GOVERNMENT HOUSING LOANS ACT Memorandum of Charge on Gratuity [Section 15] I, of Borrower hereby declare that on the day of I executed a memorandum of charge in favour of the Board for the sum of $ and for the purpose of further securing such loan I hereby charge any gratuity that may become payable in case of my death while in the service of the Government or of the scheduled organisation employing me with the payment of the amount that may then be due on the said loan. DATED this day of , 20 --------------------------------------------------- (Signed) WITNESS:- Name------------------------------------------ Address--------------------------------------- ------------------------------------ (Signed) Government Housing Loans 29 Form 2 THE GOVERNMENT HOUSING LOANS ACT Memorandum of Discharge of Charge on Gratuity [Section 15] It is hereby certified that the charge on gratuity dated the day of , 20 made by in favour of the Board is this day discharged. DATED this day of , 20 Signed.............................................................................. Secretary