With Reference to the Settlement of This Transaction Today, We Hereby

LETTER OF OBLIGATION – SALE 2

Sale/assignation transaction which induces first registration.

Dear Sirs

[ ](the "Seller") [ ](the "Purchaser") [ ](the "Property")

With reference to the settlement of this transaction today, we hereby:-

(1) undertake to clear the records of any deed, decree or diligence (other than such as may be created by, or against, the Purchaser) which may be recorded in the Property or Personal Registers or to which effect may be given in the Land Register in the period from [ ] 1 to fourteen2 days after today's date inclusive (or to the earlier date of registration of the Purchaser's interest in the Property) and which would cause the Keeper to make an entry on, or qualify his indemnity in, [the Title Sheet to be created][the Land Certificate]3 to be issued in respect of that interest; [and]

(2) confirm that, to the best of our knowledge and belief, as at this date the answers to the questions numbered 1 to 14 in the draft Form 1 adjusted with you (in so far as these answers relate to the Seller or to the Seller's interest in the Property) are still correct; [and]

[(3) on behalf of the Seller, undertake to exhibit/deliver to you within three months of today's date a search in the Register of Charges and Company file of the Seller brought down to at least thirty six4 days after today's date disclosing no entry prejudicial to the Purchaser's interest].5

[Please note that all prior writs delivered by us to you/the Keeper which do not relate solely to the Property should be returned to us when returning this letter of obligation marked as fully implemented.]

Yours faithfully

Version 3 October 2010 Notes:

1. Here insert date of certification of Form 10 or 11 Report See Guidance Notes

2. See Guidance Notes

3. Select appropriate option depending on whether the parties have agreed that a Land Certificate will be obtained, or that dematerialisation is to apply.

4. This period should be twenty two days plus the fourteen day period permitted.

5. Add further undertakings as required, but any such further undertakings should normally be on behalf of the Seller only. Bear in mind that any such further undertakings given by the Seller’s solicitors personally, other than in respect of discharges (where relevant and then only subject to compliance with conditions), will not fall within the definition of the “classic letter of obligation” for Master Policy insurance purposes.