Maintenance of Property; Insurance (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.
PARTICULARS OF PROPERTY DESCRIPTION OF PROPERTY : The subject property is A Three (3) Storey Shop / Office identified as POSTAL ADDRESS OF UNIT : ▇▇▇▇ ▇▇. ▇▇▇ ▇-▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Seri ▇▇▇▇▇▇, Taman Seri ▇▇▇▇▇▇, ▇▇▇▇▇ MUKIM / DISTRICT / STATE : ▇▇ / ▇▇▇▇▇ ▇▇▇▇ / ▇▇▇▇▇▇ PROVISIONAL LAND AREA : Approximately 65.59 square metres (706 square feet) TENURE : Freehold VENDOR / PROPRIETOR : JKP Sdn. Bhd. (Company No.: 350606-W) ENCUMBRANCE : Assigned to Maybank Islamic Berhad pursuant to the said Agreements and subject to all easements, leases, tenancies, occupiers, charges, caveats, previous sale and purchase, previous assignment, covenants, liabilities subsisting thereon or thereover. The property will be sold on an “as is where is” basis, subject to a reserve price of RM150,000.00 (Ringgit Malaysia One Hundred Fifty Thousand) only, subject to the Conditions of Sale and by way of an assignment from the above Assignee/Bank subject to consent being obtained by the successful bidder (“the Purchaser”) from the developer/proprietor and relevant authorities, if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the relevant authority. All intending bidders are required to deposit 10% of the fixed reserve price by bank draft or cashier’s order only in favour of Maybank Islamic Berhad prior to the sale with the under mentioned Auctioneer. Settlement of the balance purchase price : The balance of the purchase price is to be settled within ninety (90) days from the date of auction sale by Bank Draft or Cashier’s Order drawn in favour of Maybank Islamic Berhad. For further particulars, please contact Messrs. ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ & ▇▇▇ ▇▇▇▇▇▇ Solicitor for the Assignee/Bank herein whose address is at Advocates & ▇▇▇▇▇▇▇▇▇▇ ▇▇. ▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ [Telephone No : ▇▇-▇▇▇ ▇▇▇▇ / Facsimile No. ▇▇-▇▇▇ ▇▇▇▇ / Reference : L/ARI/438/2020/NS (GHL)] or the under mentioned Auctioneer. Website: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇ FB Page: RAJ Auction House
Conveyance of Property In exchange for the payment of both the Purchase Price and the Buyer’s Premium in accordance with Sections 1 and 2 above, Oceaneering shall issue to Buyer a ▇▇▇▇ of Sale in the form attached hereto as Schedule 2 and incorporated herein for all purposes, whereby Seller shall TRANSFER, CONVEY, SELL, DELIVER and ASSIGN to Buyer the Property in its present condition and location, free and clear of all liens, claims and other encumbrances. The ▇▇▇▇ of Sale may be issued electronically and Title to the Property, including all risk of loss, shall transfer to Buyer immediately upon receipt of the ▇▇▇▇ of Sale. The date on which Sellers issue the ▇▇▇▇ of Sale to Buyers shall hereinafter also be referred to as the “Closing Date”.
Ownership of Property; Insurance Coverage (a) Roma Financial and each Roma Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by Roma Financial or each Roma Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the Roma Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by any Roma Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the Roma Financial Statements. Roma Financial and the Roma Financial Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by Roma Financial and any Roma Subsidiary in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.
(b) With respect to all material agreements pursuant to which Roma Financial or any Roma Subsidiary has purchased securities subject to an agreement to resell, if any, Roma Financial or such Roma Subsidiary, as the case may be, has a lien or security interest (which to Roma Financial’s Knowledge is a valid, perfected first lien) in the securities or other collateral securing the repurchase agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby.
(c) Roma Financial and each Roma Subsidiary currently maintain insurance considered by each of them to be reasonable for their respective operations. Neither Roma Financial nor any Roma Subsidiary, has received notice from any insurance carrier since December 31, 2009 that (i) such insurance will be canceled or that coverage thereunder will be reduced or eliminated, or (ii) premium costs (other than with respect to health or disability insurance) with respect to such policies of insurance will be substantially increased. There are presently no material claims pending under such policies of insurance and no notices have been given by Roma Financial or any Roma Subsidiary under such policies (other than with respect to health or disability insurance). All such insurance is valid and enforceable and in full force and effect, and since December 31, 2009 Roma Financial and each Roma Subsidiary has received each type of insurance coverage for which it has applied and during such periods has not been denied indemnification for any material claims submitted under any of its insurance policies.
Abandonment of Property We need not accept any property abandoned by an "insured".