<PAGE>
                              OFFICER'S CERTIFICATE

         I do hereby certify and represent that:

         1. I am the duly elected Secretary of deCODE genetics, Inc., a Delaware
corporation.

         2. Pursuant to Rule 306(a) of Regulation S-T, the following Exhibit
10.4 to deCODE genetics, Inc.'s Quarterly Report on Form 10-Q is a fair and
accurate English translation of a document prepared in the Icelandic language.

         IN WITNESS WHEREOF, I have signed this Officer's Certificate in my
capacity as Secretary of deCODE genetics, Inc. on this 15th day of May, 2002.


                                       By:    /s/ Tanya Zharov
                                              ----------------------------------
                                       Name:  Tanya Zharov
                                       Title: Secretary and Corporate Counsel
<PAGE>
                                                                    Exhibit 10.4



                                  GENERAL BOND
                            WITH CONSUMER PRICE INDEX

                                  PROPERTY LIEN

Vetrargarourinn ehf.
State Reg. No. 581201-2490
Sturlugata 8, Reykjavik


MAKES KNOWN:

AS SURETY for the prompt and full payment of all debts and financial commitments
according to 1). The Loan Agreement with Islandsbanki-FBA, amounting to a total
of USD 6,620,000.- and 2) Bonds issued by Vetrargarourinn ehf. on 28 February
2002, class 2, 2002, amounting to a total of ISK 730,000,000.- whether the
amount at stake is the principal, price-level adjustments, translation
difference, penalty interest, collection costs or costs, of whatever kind, in
aggregate

ISK 800,000,000.- EIGHT HUNDRED MILLION ICELANDIC KRONUR AND
USD 7,280,000.- SEVEN MILLION TWO HUNDRED AND EIGHTY THOUSAND US DOLLARS

ON THE DATE OF ISSUE, ISLANDSBANKI-FBA IS HEREBY PLEDGED, FOR OUR OWN PART AND
ON BEHALF OF THE OWNERS OF THE ABOVE BONDS, AS CURRENT AT ANY TIME, BY
THIRD-RANK MORTGAGE WITH PROMOTION RIGHTS, THE PROPERTY: STURLUGATA 8 IN
REYKJAVIK, WITH PROMOTION RIGHTS BEHIND THE FOLLOWING MORTGAGE DEBTS:

<TABLE>
<S>               <C>                       <C>                                         <C>                  <C>
FIRST RANK        USD 4,000,000.- AND
                  ISK 1,400,000,000.-       ISLANDSBANKI FBA HF. AND BOND BEARERS       21 DECEMBER 2001     INDEXED

SECOND RANK       USD 400,000.- AND
                  ISK 140,000,000.-         ISLANDSBANKI FBA HF. AND BOND BEARERS       21 DECEMBER 2001     INDEXED
</TABLE>

The amount in Icelandic kronur is linked to the consumer price index, based on
the base index 220.9 points, and changes in the same ratio as the index; it is,
however, never based on a lower index than the base index of this bond, in
addition to penalty interest and all costs resulting from collection measures.

The issuer/mortgagor is not aware of any other registered liens or encumbrances
on the property.

The lien extends to the insurance amount of the mortgaged property and the lien
holder is entitled, should any insurance be paid out, to request that the
insurance company pay to him directly as much of the insurance amount as would
cover the debt secured by this lien together with all interest, penalty interest
and collecting costs. In such an event the lien holder is fully authorised to
take delivery of the insurance money and dispose of it as payment for the debts.
The mortgagor is under obligation to insure the mortgaged property and provide
the lien holder with documented evidence that the secured property is properly
insured; failing this the lien holder may, without any obligation to do so,
insure the property at the mortgagor's expense and shall thereby hold a lien on
the property for the total amount of paid-out costs for insurance as well as for
the debt itself.

The property is mortgaged with all appurtenances, including subsequent
additions, cf. Articles 16-18 of Act No 75/1997 on Contractual Liens.

The mortgagor is under obligation to ensure that all necessary safety measures
required by applicable laws and regulations, as current at any time, are
observed with respect to the mortgaged property. The mortgagor shall also take
responsibility for the maintenance of the pledged property and ensure, to the
extent possible, that it maintains its value so that the mortgage rights are not
curtailed.

In the event of any default on the payment of instalments or interest of the
debt(s) covered by this lien or any other breach of the obligations of the
issuer/mortgagor to the lien holder, the total amount of the debt(s) may be
called in immediately and without notice and this mortgage may then be
foreclosed. The same applies if the value of the secured property is
substantially reduced, there is a change in ownership of the property without
the mortgagee's consent or if the issuer's/mortgagor's other creditors enforce
any claims against the property, or if the issuer's/mortgagor's or his
guarantor's estate securing the debt, one or more, enter into receivership or
seek composition.

The issuer shall pay the stamp duty and registration tax on this lien.
<PAGE>
In the event of any dispute in respect of this lien or the debt that it covers
such dispute shall be referred to the District Court of Reykjavik.

In witness whereof, the signatures of the issuer, the mortgagor and the spouse
of the registered owner (issuer/mortgagor) are attached hereto in the presence
of witnesses.

                                           Reykjavik, 28 February 2002


                                           For the Board of Vetrargarourinn ehf.

                                           Tomas Sigurdsson

Witnesses to the correct
   date and signature:
financial competence of the
   issuer, the mortgagor and
   spouse of the registered owner:
                                           Hereby in agreement with the above
                                           For Islandsbanki-FBA hf.
 Adalsteinn E Jonasson
----------------------------------
Name                    Id. No.            Erlendur Magnusson
                                           Alexander Gudmundsson


----------------------------------
Name                    Id. No.