BANK GUARANTEE NO.

DATED: 24March-2015

AMOUNT: PKR 40,000,000.00

VALlD UNTIL: 24-March-2017

To,

The Executive Engineer,

Public Health Engg: Division,

Rajan PurURBAN DRAINAGE I SEWERAGE I TUFF TILE SCHEME IN JAMPUR CITY

PLACEMENT OF OUTLIVED SEWER AND NEW SEWER SYSTEM IN FAISAL COLONY

SHAH JAMAL COLONY AND TATTAR WALA TEHSIL JAMPUR DISTRICT RAJANPUR.

WHEREAS a contract of work has been awarded by the Governor of Punjab acting through the Executive

Engineer PHE Division Rajan Pur (hereinafter called the Government) to M/S MAHAR MUHAMMAD YOUSAF GILL BORROWER OF OUR CHOUBARA ROAD LAYYAH 0139 (hereinafter called the contractor).

AND WHEREAS, under the term of said contract the Government has agreed to advance a sum of 3;

40,000,000/- {Rug Fog Million Only! to the contractor for execution of said work. The said amount shall be recovered after lapse of 20% contract period or after execution of the 20% of the work (nancial terms), whichever is earlier. The rate of recovery shall be 25% of the value of work done in each interim payment certicate (running bill) or till Expiry dated i.e. 24-March-2017 whichever is earlier.

AND WHEREAS, the Government has required the contractor to furnish a Bank Guarantee from any schedule bank for securing the payment of the sum (Rs. 40,000,000l- (Rupees Forty Million only) advance thereon:

It is agreed as follows:-

1. We, HABIB BANK LIMITED, a Banking Company incorporated under the laws of Islamic Republic of Pakistan having its registered office at Habib Bank Tower, Jinnah Avenue, Islamabad and Head ofce at Habib Bank Plaza, Il. Chundrigar Road, Karachi (hereinaer Guarantor) holds and rmly binds itself to the Government in the sum of Rs. 40,000,000/- (Rupees Fog Million Only)2. The Guarantor hereby undertakes to pay the said amount payable to the Government of the Punjab

on demand in case the contractor makes a default in the payment of said guarantee under the terms and conditions of the contract.

3. The guarantee shall be unconditional and shall remain in force till the sum advanced payable thereon has been repaid in ll by the contractor or till expiry i.e. 24-March-2017 whichever is earlier.4. The liability of the guarantor shall in no case exceed the aggregate amount of Rs. 40,000,000/-

Rupees FortyMillion only payable thereon for the payment of which the guarantor hereby undertakes to bind itself and promises to pay the whole or any portion of this amount to the Government subject to the expiry dated without making a reference to the contractor.

Notwithstanding anything stated herein before to the contrary, our liability under its guarantee is restricted to a maximum amount of Rs. 40,000,000I- (Rupees Forty Million Only). Claim if any must be received in writing at our counter within banking hours on or before the expiry dated i.e. 24March-2017. Claims received after expiry date shall not be entertained by us our bank shall stand absolved and discharged of all his liability under the guarantee which cease to the operative automatically after aforesaid expiry date whether returned to us in original or not.

IN WITNESS WHEREOF, we the said Guarantor have set out hands to this deed of guarantee this E day of March 2015 pursuant to the authority of its governing body.

For and on behalf of

Habib Bank Limited

Choubara Road, Layyah Br.

Signed, sealed and delivered by the said principal and surees in the presence of.