Document:

EX-10.2

 EXHIBIT 10.2 

 
  

 
 SUBSERVICING SUPPLEMENT

 dated as of September 28, 2012 
 between 
 OCWEN LOAN SERVICING, LLC 

and 

HLSS HOLDINGS, LLC 
  

 
  

 CONTENTS 

 

					
	Clause	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	  
		
	 1.1 Definitions
	  	 	1	  
		
	 ARTICLE II. SUBSERVICING
	  	 	3	  
		
	 2.1 Engagement as Subservicer
	  	 	3	  
		
	 2.2 Servicing Transfer Procedures
	  	 	3	  
		
	 2.3 Reference to Master Subservicing Agreement
	  	 	3	  
		
	 ARTICLE III. SERVICING FEES
	  	 	3	  
		
	 3.1 Base Subservicing Fee
	  	 	3	  
		
	 3.2 Performance Fee
	  	 	4	  
		
	 ARTICLE IV. MISCELLANEOUS
	  	 	4	  
		
	 4.1 Incorporation
	  	 	4	  
		
	 4.2 Third Party Beneficiaries
	  	 	4	  

  

			
	 SCHEDULE I
	 	Servicing Agreements
	 SCHEDULE II
	 	Retained Servicing Fee Percentage
	 SCHEDULE III
	 	Target Ratio Schedule

 SUBSERVICING SUPPLEMENT 

This SUBSERVICING SUPPLEMENT, dated as of September 28, 2012 (this “Subservicing Supplement”), is by and between
HLSS HOLDINGS, LLC, a Delaware limited liability company (“Servicer”), and OCWEN LOAN SERVICING, LLC, a Delaware limited liability company (“Ocwen”). 

RECITALS: 

WHEREAS, as of the applicable Servicing Transfer Date (as defined herein), Servicer will become the servicer of certain Mortgage Loans
(as defined in the Master Subservicing Agreement) pursuant to the terms of those certain pooling and servicing agreements or other servicing agreements listed in Schedule I hereto; and 

WHEREAS, Servicer and Ocwen are parties to that certain Master Subservicing Agreement dated as of February 10, 2012 (the
“Master Subservicing Agreement”); and 
 WHEREAS, Servicer desires to engage Ocwen to act as subservicer with
respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements listed in Schedule I hereto, as of the applicable Servicing Transfer Date (as defined herein), and Ocwen desires to act as
subservicer with respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements, on the terms set forth in the Master Subservicing Agreement, as supplemented by this Subservicing Supplement.

 NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Servicer and Ocwen agree as follows: 
 ARTICLE I. 
 DEFINITIONS. 

1.1 Definitions. (a) For purposes of this Subservicing Supplement, the following capitalized terms shall have the respective
meanings set forth or referenced below. 
 “Base Subservicing Fee” has the meaning set forth in
Section 3.1. 
 “Deferred Servicing Agreement” has the meaning set forth in the Sale Supplement.

 “Excess Servicing Advances” shall mean, for any calendar month, the amount, if any, by which the outstanding
Servicing Advances with respect to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied by (b) the unpaid principal balance of the Mortgage
Loans subject to the Servicing Agreements as of the last day of such calendar month. 

  
 Subservicing
Supplement 
  
 1 

 “Monthly Servicing Fee” shall mean, for each calendar month, the sum of the
Base Subservicing Fee for such calendar month and the Seller Monthly Servicing Fee (as defined in the Sale Supplement) for such calendar month. 
 “Performance Fee” has the meaning set forth in Section 3.2. 
 “Retained Servicing Fee” shall mean, for any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for such calendar month and the
average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements and the Deferred Servicing Agreements during such calendar month, and (b) the Retained Servicing Fee Shortfall, if any, for the immediately prior
calendar month. 
 “Retained Servicing Fee Percentage” shall mean, for any calendar month, the percentage set
forth on Schedule II to this Subservicing Supplement. 
 “Retained Servicing Fee Shortfall” shall mean,
for any calendar month, beginning in October, 2012, an amount equal to the excess, if any, of (a) the Retained Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by
Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to Sale Supplement, as applicable) over
(y) the Monthly Servicing Fee for such calendar month. 
 “Sale Supplement” shall mean that certain Sale
Supplement, dated as of the date hereof, between Servicer, as Purchaser, and Ocwen, as Seller, as the same may be amended, supplemented or otherwise modified from time to time. 

“Scheduled Termination Date” means, with respect to each Subject Servicing Agreement serviced pursuant to this
Subservicing Supplement, the date which is six (6) years after the closing date of the initial acquisition of assets pursuant to the Sale Supplement. 
 “Servicing Agreement” shall mean each of the pooling and servicing agreements or other servicing agreements listed in Schedule I hereto. 

“Servicing Fees” shall mean, with respect to any Servicing Agreement, the servicing fees payable to Servicer under the
Subject Servicing Agreements, including each “servicing fee” payable based on a percentage of the outstanding principal balance of the Mortgage Loans serviced pursuant to such Servicing Agreement, but excluding any Ancillary Income,
Prepayment Interest Excess or any amounts earned in connection with the investment of funds in the related Custodial Accounts and Escrow Accounts. 
 “Servicing Transfer Date” shall have the meaning specified in the Sale Supplement. 
 “Subject Servicing Agreement”, shall mean, as of any date of determination, each Servicing Agreement with respect to which the Servicing Transfer Date has occurred on or prior to such
date and with respect to which the Subservicing Termination Date has not occurred on or prior to such date. 

  
 Subservicing
Supplement 
  
 2 

 “Target Ratio” for each calendar month shall mean the amount specified in
Schedule III with respect to such month. 
 (b) Any capitalized term used but not defined in this Subservicing Supplement
shall have the meaning assigned to such term in the Master Subservicing Agreement. 
 ARTICLE II. 

SUBSERVICING 
 2.1 Engagement as Subservicer. Servicer hereby engages Ocwen to act as subservicer, and Ocwen agrees to act as subservicer, with respect to the Mortgage Loans relating to those certain pooling and
servicing agreements or other servicing agreements listed in Schedule I hereto (the “Subject Servicing Agreements”) pursuant to the terms of the Master Subservicing Agreement, as supplement by this Subservicing Supplement, on
and after the related Servicing Transfer Date for such Subject Servicing Agreement. Except as set forth in this Subservicing Supplement or the Master Subservicing Agreement, Ocwen further agrees to be responsible for performing all of the duties and
obligations of Servicer and its subservicers under each Subject Servicing Agreement, and to meet any standards and fulfill any requirements applicable to Servicer or its subservicer under each Subject Servicing Agreement on and after the related
Servicing Transfer Date. 
 2.2 Servicing Transfer Procedures. Servicer and Ocwen each covenant and agree to following
the Servicing Transfer Procedures agreed pursuant to the Sale Supplement with respect to each Subject Servicing Agreement. 

2.3 Reference to Master Subservicing Agreement. Each of Servicer and Subservicer agrees that (a) this Subservicing Supplement
is a “Subservicing Supplement” executed pursuant to Section 2.1 of the Master Subservicing Agreement, (b) the terms of this Subservicing Supplement are hereby incorporated into the Master Subservicing Agreement with
respect to the Subject Servicing Agreements and the related Mortgage Loans to the extent set forth therein, (c) each of the Subject Servicing Agreements listed in Schedule I is a “Subject Servicing Agreement” as such term is
used in the Master Subservicing Agreement on and after the related Servicing Transfer Date, and (d) the terms of this Subservicing Supplement apply to the Subject Servicing Agreements specified herein and not to any other “Subject
Servicing Agreement” as that term is used in the Master Subservicing Agreement. In the event of any conflict between the provisions of this Subservicing Supplement and the Master Subservicing Agreement, the terms of this Subservicing Supplement
shall prevail. 
 ARTICLE III. 
 SERVICING FEES 
 3.1 Base Subservicing Fee. As compensation for its
services with respect to the Subject Servicing Agreements, Servicer shall pay Ocwen a monthly base subservicing fee for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this
Subservicing Supplement equal to 12.00% of the aggregate Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements during such calendar month (the “Base Subservicing Fee”). 

  
 Subservicing
Supplement 
  
 3 

 3.2 Performance Fee. Servicer shall pay to Ocwen for each calendar month during which
Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a) zero and (b) the excess, if any,
of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing
Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing Fee for such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the
numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal
balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month, or such
other allocation percentage which is agreed by Servicer and Ocwen (the “Allocation Percentage”). The Performance Fee, if any, for any calendar month will be reduced by 6.50% per annum (i.e., 0.5417% per month) of the
Excess Servicing Advances, if any, for such calendar month multiplied by the Allocation Percentage. If the Closing Date does not occur on the first day of a calendar month, the Performance Fee for the period from the Closing Date to the last of the
calendar month in which the Closing Date occurs shall be calculated in a pro rata manner based on the number of days in such period. 
 ARTICLE IV. 
 MISCELLANEOUS 

4.1 Incorporation. The provisions of Article 10 of the Master Subservicing Agreement are hereby incorporated into this
Subservicing Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein. 
 4.2 Third Party
Beneficiaries. Ocwen and Servicer each acknowledges and agrees that the indenture trustee, on behalf of the holders of related notes, with respect to any Servicing Advance Facility pursuant to which Servicer has transferred Servicer Advances
made pursuant to a Servicing Agreement is an express third party beneficiary of this Subservicing Supplement and the Subservicing Agreement solely with respect to the Servicing Agreements related to such Servicing Advance Facility. 

[Signature Page Follows] 

  
 Subservicing
Supplement 
  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Subservicing Supplement to be
executed and delivered as of the date first above written. 
  

			
	HLSS HOLDINGS, LLC
	
	By: Home Loan Servicing Solutions, Ltd., its sole member
		
	By:	 	/s/ James Lauter
	Name: James Lauter
	Title: CFO

  

			
	OCWEN LOAN SERVICING, LLC
	
		
	By:	 	/s/ John Britti
	Name: John Britti
	Title: Authorized Signatory

  
 Subservicing
Supplement 
  
 5 

 SCHEDULE I 

SERVICING AGREEMENTS 
  

			
	 Investor

Number
	  	Short Form Deal Name
	 2640
	  	Renaissance 2007-3
	 2701
	  	ABSC 2005-HE1 (CSFB)
	 2718
	  	Saxon 05-4
	 2719
	  	SASTA 2006-01
	 2730
	  	Saxon 05-3
	 320
	  	Residential Mortgage Loan Trust 1998-1
	 338
	  	Ocwen 1999-R1
	 2012
	  	1998-NC4 Salomon
	 2039
	  	1997-NC5A Salomon
	 2041
	  	1998-NC1 Salomon
	 2042
	  	1998-NC2 Salomon
	 2131
	  	ARC 2001-BC5
	 2132
	  	CSFB ABS Trust Series 2001-HE16
	 2158
	  	CSFB ABS Trust Series 2001-HE25
	 2164
	  	CSFB ABS Trust Series 2002-HE1
	 2166
	  	CSFB ABS Trust Series 2002-HE4
	 2172
	  	ARC 2002 BC-1
	 2183
	  	CDC 2002-HE1 S/S
	 2189
	  	ARC 2002 BC-3
	 2194
	  	CSFB HEAT 2002-1
	 2199
	  	ARC 2002 BC-5
	 2200
	  	GSAMP 2002-NC1
	 2201
	  	ABFC 2002-NC1
	 2210
	  	ARC 2002 BC-6
	 2220
	  	ARC 2002 BC-7
	 2224
	  	ARC 2002 BC-8
	 2227
	  	ARC 2002 BC-9
	 2229
	  	GSAMP 2002-HE
	 2232
	  	ARC 2002 BC-10
	 2238
	  	SAIL 2003-BC1
	 2243
	  	SAIL 2003 BC2 S/S
	 2244
	  	SASCO 2003 AM1
	 2245
	  	GSAMP 2003 FM1
	 2252
	  	SAIL 2003 - BC3
	 2253
	  	Encore Credit Corp Mtg P-T Certs, Series 2003-1
	 2256
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR2
	 2258
	  	Structured Asset Investment Loan Trust 03-BC4 S/S

  
 Sch I-1

			
	 2260
	  	Structured Asset Investment Loan Trust 03-BC5 S/S
	 2261
	  	Home Equity Pass-Through Certificates, 2003-3
	 2267
	  	CSFB Home Equity Asset Trust 2003-4
	 2268
	  	Morgan Stanley ABS Capital I Inc. Trust 2003-SD1
	 2271
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR5
	 2272
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR9
	 2273
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR12
	 2274
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR15
	 2277
	  	CSFB Mtg-Backed PT Certificates Series 2003-AR18
	 2290
	  	SASCO 2003-S1
	 2293
	  	SAIL Loan Trust, Series 2003-BC8 S/S
	 2295
	  	SAIL Loan Trust, Series 2003-BC9 S/S
	 2298
	  	SAIL 2003 BC10 S/S
	 2303
	  	Equifirst 2003-2
	 2306
	  	SAIL 2003-BC11
	 2307
	  	CSFB HEAT 2003-6
	 2308
	  	SASCO GEL 2003-1
	 2313
	  	SAIL 2003-BC12
	 2314
	  	SAIL 2003-BC13
	 2317
	  	CSFB HEMT 2003-6
	 2318
	  	TMTS 2003-6HE
	 2321
	  	CSFB HEMT 2003-7
	 2322
	  	CSFB HEAT 2003-8
	 2326
	  	SAIL 2004-BC1
	 2328
	  	SAIL 2004-2
	 2330
	  	SASCO 2004-GEL1
	 2332
	  	CSFB HEMT 2004-1
	 2333
	  	CSFB HEAT 2004-1
	 2335
	  	SASCO 2003 - 39EX
	 2337
	  	TMTS 2004 4SL
	 2339
	  	SAIL 2004-3
	 2340
	  	CSFB HEAT 2004-2
	 2341
	  	GSAMP Trust 2004 SEA-1
	 2343
	  	ACE 2004-HE1
	 2344
	  	Aegis Trust Series 2004-2
	 2347
	  	GSAMP 2004 HE1
	 2348
	  	CSFB HEAT 2004-3
	 2352
	  	ACE 2004 IN1
	 2353
	  	Renaissance 2004-2
	 2355
	  	SAIL 2004-6

  
 Sch I-2

			
	 2357
	  	SASCO 2004-GEL2
	 2358
	  	GSAMP 2004 SEA2
	 2359
	  	GSAMP 2004 SD1
	 2360
	  	GSAMP 2004 HE2
	 2361
	  	CSFB HEAT 2004-5
	 2365
	  	GSRPM 2004-1
	 2366
	  	CSFB HEAT 2004-6
	 2367
	  	ABSC 2004 -HE6
	 2368
	  	Renaissance 2004-3
	 2373
	  	Deutsche Bank ACE 2004-HE2
	 2374
	  	CSFB HEAT 2004-7
	 2376
	  	ACE 2004-SD1
	 2377
	  	ARC 2004-1
	 2378
	  	SAIL 2004-10
	 2380
	  	CSFB 2004-AA1
	 2383
	  	ABSC 2004-HE8
	 2384
	  	SASCO 2004-S4
	 2386
	  	CSFB HEAT 2004-8
	 2387
	  	Aegis 2004-5
	 2389
	  	Aegis 2004-6
	 2392
	  	ACE 2005 SD1
	 2395
	  	GSAMP 2005-HE1
	 2397
	  	GSAMP 2005 - SD1
	 2398
	  	SASCO 2005-GEL1
	 2399
	  	CSFB 2005-FIX1
	 2400
	  	CSFB HEAT 2005-1
	 2401
	  	ACE 2005-HE1
	 2404
	  	SASCO 2005-S1
	 2405
	  	SAIL 2005-2
	 2406
	  	Aegis 2005-1
	 2410
	  	SAIL 2005-3
	 2411
	  	GSAMP 2005 SEA1
	 2413
	  	ACE 2005 -SN1
	 2424
	  	ABFS 2000-3
	 2425
	  	ABFS 2000-4
	 2426
	  	ABFS 2001-1
	 2428
	  	ABFS 2001-3
	 2429
	  	ABFS 2001-4
	 2430
	  	ABFS 2002-1
	 2436
	  	SASCO 2005-GEL2
	 2437
	  	SAIL 2005-4
	 2438
	  	FNLC 2005-1
	 2440
	  	CSFB HEAT 2005-3
	 2441
	  	MABS 2005-HE1
	 2444
	  	SASCO 2005-9XS
	 2446
	  	GSAMP 2005-SD2
	 2448
	  	SAIL 2005-6

  
 Sch I-3

			
	 2449
	  	Renaissance 2005-2
	 2450
	  	SASCO 2005-GEL3
	 2451
	  	Aegis 2005-3
	 2452
	  	ACE 2005 -SD2
	 2453
	  	ACE 2005-HE4
	 2457
	  	CSFB HEMT 2005-3
	 2459
	  	CSFB HEAT 2005-5
	 2466
	  	ACE 2005 SL1
	 2469
	  	CSFB HEAT 2005-7
	 2470
	  	CSFB HEMT 2005-4
	 2472
	  	SASCO 2005-SC1
	 2473
	  	GSAMP 2005-SEA2
	 2475
	  	SASCO 2005-GEL4
	 2481
	  	BSABS 2005-CL1
	 2484
	  	CSFB 2005 HEMT HF1
	 2486
	  	SAIL 2005-9
	 2491
	  	ACE 2005 SD3
	 2495
	  	CSFB HEAT 2005-9
	 2502
	  	CSFB HEMT 2005-5
	 2504
	  	GSAMP 2006 SD1
	 2511
	  	CSFB HEAT 2006-2
	 2512
	  	ACE 2006 SL1
	 2517
	  	GSAMP 2006-S4
	 2524
	  	DB ACE 2006-SD1
	 2526
	  	ACE 2006 SL2
	 2528
	  	ResMAE 2006-1
	 2536
	  	CSFB HEMT 2006-2
	 2544
	  	ACE 2006-ASL1
	 2545
	  	ACE 2006-ASAP3
	 2546
	  	GSAMP 2006-SD2
	 2549
	  	CS HEMT 2006-3
	 2550
	  	ACE 2006-SL3
	 2553
	  	NAAC 2005-S1
	 2554
	  	NAAC 2005-S2
	 2555
	  	NAAC 2005-S3
	 2556
	  	ACE 2006-SD2
	 2564
	  	GSAMP 2006-SD3
	 2568
	  	NAAC 2005-S4
	 2569
	  	NAAC 2006-S1
	 2577
	  	CS HEMT 2006-4
	 2586
	  	CS HEMT 2006-5
	 2593
	  	ACE 2006-SD3
	 2597
	  	CMLTI 2006-HE3
	 2606
	  	ACE 2007-ASL1
	 2610
	  	ACE 2007-SL1
	 2622
	  	NAAC 2007-S2
	 2624
	  	SASCO 2007-GEL2

  
 Sch I-4

			
	 2633
	  	SASCO 2007-TC1
	 2634
	  	BSABS 2007-HE4
	 2658
	  	SASCO 2007-BC4
	 2678
	  	DSLA 2006-AR2
	 2680
	  	HBVM 2006-8
	 2681
	  	HBVM 2007-6
	 2683
	  	HBVM 2005-6
	 3590
	  	GSAMP TRUST 2003-HE2
	 3593
	  	MSABS 2003-HE2
	 3622
	  	GSAA TRUST 2004-5
	 3651
	  	GSAMP TRUST 2005-HE1
	 3652
	  	PPSI 2005-WCH1
	 3654
	  	MSHEL 2005-1
	 3663
	  	SAIL 2005-4
	 3695
	  	SAIL 2006-1
	 3703
	  	HASCO 2006-NC1
	 3712
	  	HEAT 2006-4
	 3713
	  	SASCO 2006-AM1
	 3733
	  	SASCO 2006-Z
	 3737
	  	SASCO 2007-GEL2

  
 Sch I-5

 SCHEDULE II 

RETAINED SERVICING FEE PERCENTAGE 
  

					
	 From Month1
	  	 To Month
	  	 Retained Fee

	 1
	  	3	  	21.00 bps
	 4
	  	6	  	20.50 bps
	 7
	  	9	  	20.00 bps
	 10
	  	12	  	19.50 bps
	 13
	  	15	  	18.50 bps
	 16
	  	18	  	18.00 bps
	 19
	  	21	  	17.50 bps
	 22
	  	24	  	17.00 bps
	 25
	  	72	  	16.50 bps

  

	1 	 Starting with October, 2012. 

  
 Sch II-1

 SCHEDULE III 

TARGET RATIO SCHEDULE 
  

			
	Month2	  	Target Advance Ratio
	 1
	  	3.27%
	 2
	  	3.18%
	 3
	  	3.10%
	 4
	  	3.03%
	 5
	  	2.95%
	 6
	  	2.88%
	 7
	  	2.81%
	 8
	  	2.74%
	 9
	  	2.67%
	 10
	  	2.60%
	 11
	  	2.54%
	 12
	  	2.47%
	 13
	  	2.41%
	 14
	  	2.35%
	 15
	  	2.29%
	 16
	  	2.23%
	 17
	  	2.18%
	 18
	  	2.12%
	 19
	  	2.07%
	 20
	  	2.02%
	 21
	  	1.97%
	 22
	  	1.92%
	 23
	  	1.87%
	 24
	  	1.82%
	 25
	  	1.78%
	 26
	  	1.75%
	 27
	  	1.75%
	 28
	  	1.75%
	 29
	  	1.75%
	 30
	  	1.75%
	 31
	  	1.75%
	 32
	  	1.75%
	 33
	  	1.75%
	 34
	  	1.75%
	 35
	  	1.75%

  

	2 	 Starting with October, 2012. 

  
 Sch III-1

			
	Month2	  	Target Advance Ratio
	 36
	  	1.75%
	 37
	  	1.75%
	 38
	  	1.75%
	 39
	  	1.75%
	 40
	  	1.75%
	 41
	  	1.75%
	 42
	  	1.75%
	 43
	  	1.75%
	 44
	  	1.75%
	 45
	  	1.75%
	 46
	  	1.75%
	 47
	  	1.75%
	 48
	  	1.75%
	 49
	  	1.75%
	 50
	  	1.75%
	 51
	  	1.75%
	 52
	  	1.75%
	 53
	  	1.75%
	 54
	  	1.75%
	 55
	  	1.75%
	 56
	  	1.75%
	 57
	  	1.75%
	 58
	  	1.75%
	 59
	  	1.75%
	 60
	  	1.75%
	 61
	  	1.75%
	 62
	  	1.75%
	 63
	  	1.75%
	 64
	  	1.75%
	 65
	  	1.75%
	 66
	  	1.75%
	 67
	  	1.75%
	 68
	  	1.75%
	 69
	  	1.75%
	 70
	  	1.75%
	 71
	  	1.75%
	 72
	  	1.75%

  
 Sch III-2ex429.htm

Exhibit 4.29

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	
MINISTRY OF NATURAL RESOURCES AND ENVIRONMENT

No. 565/GP-BTNMT

	
THE SOCIALIST REPUBLIC OF VIETNAM

Independence – Freedom – Happiness

 

 Hanoi, 25 April, 2012

 

MINISTER OF NATURAL RESOURCES AND ENVIRONMENT

- Pursuant to Mineral Law No. 60/2010/QH12 dated 17 Nov, 2010;

 

- Pursuant to Decree No. 15/2012/ND-CP dated 09 March, 2012 of Government instructing implementation of some Articles of the Mineral Law;

 

- Pursuant to Decree No. 25/2008/ND-CP dated 04 March, 2008 of Government specifying functions, task, authority and organization structure of Ministry of Natural resources and environment and Decree No. 89/2010/NĐ-CP dated 16 August, 2010 of Government complementing Article 3 of Decree 25/2008/ND-CP dated 04 March, 2008;

 

- Pursuant to Directive No. 02/CT-TTg dated 09 Jan, 2012 of Prime Minister about strengthening the State management of exploration, mining, minerals processing, minerals use and minerals exporting;

 

- Pursuant to Vietnam delineating plan for exploration, mining, minerals processing and use of gold, cooper, nickel, molybdenum up to 2015, in consideration up to 2025, approved by Minister of Industry and Trade by The Decision No. 11/2008/QD-BCT dated 05 June, 2008.

 

- Pursuant to Decision No. 53/QD-HDTL/CD dated 14 July, 2008 and decision No. 737/QD-HDTLKS dated 22 July, 2010 of Minerals Resource Evaluation Board recognizing the reserve and resource level of Bai Dat and Bai Go areas, Daksa gold mine, Phuoc Son district, Quang Nam province and approving gold and useful associated minerals as per “Gold exploration report in Phuoc Son area, Phuoc Duc and Phuoc Xuan communes, Phuoc Son district, Quang Nam province”.

 

- Pursuant to The Decision No. 1698/QD-BTNMT dated 29 Nov, 2004 of Ministry of Natural Resources and Environment approving Environment Impact Assessment of “Daksa Gold mine – Daksa gold processing project”;

 

- Pursuant to the opinions of Quang Nam People’s Committee in correspondence No. 1784/UBND-KTN dated 22 June, 2006 confirming that Daksa gold mine area is not forbidden to operate minerals activities; The Investment Certificate No. 331022000010 reissued on 08 July, 2008, The firstly adjusted Investment Certificate issued on 05 Jan, 2011, the second adjustment issued on 04 March, 2010 of Quang Nam People’s Committee for mining and processing in Daksa gold mine, Phuoc Duc commune, Phuoc Son district, Quang Nam province to Phuoc Son Gold Company Limited;

 

In consideration of application made by Phuoc Son gold Co., Ltd to mine Daksa gold mine, Phuoc Duc  commune, Phuoc Son district, Quang Nam province submitted to General Department of Geology and Mineral dated 06 June, 2011 and complementation dated 23 March, 2012.

 

At the proposal of Director of General Department of Geology and Minerals.

 

 

 

 

 

 

 

DECISION

 

Article 1. To allow Phuoc Son Gold Company Limited to mine ores with underground method to level +395m at the resource block leveled 122 of Bai Go and Bai Dat areas, Dak Sa gold mine, Phuoc Duc commune, Phuoc Son district, Quang Nam province with the following basic contents:

 

1. Mining area: 7.95 hectares (seven point ninety five hectares) including 4.28 hectares in Bai Go, 3.67 hectares in Bai Dat, based on the map number D-48-24-A in VN-2000 system, scale 1/50,000, surrounded by the corner points with coordinates as set out in Appendix attached here in;

 

2. Geological resource: 502,788 tons of gold ore;

 

3. Mining resource: 478,846 tons of gold ore;

 

4. Mining capacity: 100,000 tons of gold ore per year;

 

5. Mining time: 05 years since the signing date of this License.

 

Article 2: Phuoc Son Gold Company Limited shall:

 

1. To mine gold ore according coordinates, areas, depth, resource, capacity as set out in Article 1 of this License.

 

2. To pay the mining right granting fee for the granted geological resource as set out in Article 1 of this License within 90 days since receipt of notice from government authority.

 

3. Before starting to mine, PSGC shall submit a mine design that is made, evaluated, approved according to the regulations of current laws to the government authority as regulated; Making reports to Quang Nam people’s Committee, Quang Nam Department of forestry, Song Thanh natural reservation management board, the military high command Zone 5 to conduct field survey, determine the coordinates and mining ground, mining depth and demarcate the licensed mining areas; clear bombs and process procedure to change land use purpose according to the relevant laws.

 

4. Fully complete contents of Environment Impact Assessment (EIA) of “Daksa Gold mine project” Phuoc Son district, Quang Nam province and EIA of “Daksa gold mine processing plant project” Quang Nam province that approved by Ministry of Natural Resources and Environment and follow the legal regulations of environment protection; pay environment recovery deposit based on the current regulations.

 

5. During the mining process, PSGC shall fully and exactly implement methods, technical process, ensure technical safety, mine engineering safety, explosive materials safety; shall impose measurement to prevent, solve accident, ensure occupational safety and follow the other related safety regulations for underground mining;

 

To optimize gold product mined from the underground mine as well as other associated product (if any); make reports exactly to government authority about mined, processed, used resource from the mine;

 

Management and use of mined, processed product shall comply to the regulation of applicable laws.

 

6. Regularly monitoring the mining, processing areas, subsidiary construction and other related areas; protect minerals resource, ensure the safety, the order of the licensed mine according to the legal regulations;

 

 

 

 

 

 

 

In case of unsafe situation during mining based on the regulations, PSGC shall immediate stop mining, processing activities, at the same time shall impose resolving measurement and report in writing to the government authority to resolve as stipulated by Laws.

 

7. Comply to procedure to close the mine; recover environment, land after mining; Make regular reports on the mining activities as stipulated by Laws and other related regulation.

 

Article 3: Based on The mining activity according to this License, PSGC shall be allowed to conduct mining activities only after full compliance to the relevant laws and regulations to this License; the Decision of land lease permission of government authority according to the legal regulations; make environment recovery deposit in mining activities; submit mine design approved by the government authority according to regulations to General Department of Geology and Minerals, Quang Nam Department of Natural Resource and Environment of, Quang Nam Department of Industry and Trade; register mine construction commencement date, date of business activity, notice about mine manager, mining plan, processing plan to the government authority according to the legal regulations.

 

In case PSGC violates the regulation of Minerals Law and the relevant legal documents or does not fulfill its obligation set out in this mining license, this license will be withdrawn and as regulated by the Mineral Law. Additionally, PGGC shall be responsible about relevant issues by Laws.

 

Article 4.This mining license replaces the mining license No. 116/GP-BTNMT dated 23 January, 2006 and the Mining License No. 1553/GP-BTNMT dated 13 Aug, 2009 of Ministry of Natural resource and Environment.

 

Signed on behalf of the Minister

 

Vice Minister

 

 

 

Nguyen Linh Ngoc

 

 

 

This license is registered to the General Department of Minerals and Geology at the state level.

 

Register No. 02-2012/DK-KT

 

Hanoi, May 08, 2012

 

Head of General Department

 

(Signed and Sealed)

 

 

 

 

 

 

MINISTRY OF NATURAL RESOURCES AND ENVIRONMENT

 

COORDINATES DAKSA MINE AREA IN PHUOC DUC COMMUNE, PHUOC SON DISTRICT, QUANG NAM PROVINCE

 

(Attachment of Mining License No. 565/GP-BTNMT dated 25 April, 2012 of Ministry of Natural Resource and Environment)

 

	
1.  

	
Bai Dat area: 4.28 ha

 

	
Conner point

	
X (m)

	
Y (m)

	
Conner point

	
X (m)

	
Y (m)

	
1

	
1709752

	
792009

	
16

	
1709551

	
792154

	
2

	
1709746

	
792128

	
17

	
1709537

	
792159

	
3

	
1709704

	
792156

	
18

	
1709510

	
792149

	
4

	
1709670

	
792197

	
19

	
1709527

	
792132

	
5

	
1709670

	
792206

	
20

	
1709537

	
792087

	
6

	
1709666

	
792202

	
21

	
1709541

	
792085

	
7

	
1709646

	
792228

	
22

	
1709549

	
792080

	
8

	
1709604

	
792262

	
23

	
1709548

	
792061

	
9

	
1709581

	
792263

	
24

	
1709560

	
792060

	
10

	
1709532

	
792252

	
25

	
1709573

	
792061

	
11

	
1709511

	
792244

	
26

	
1709597

	
792034

	
12

	
1709488

	
792221

	
27

	
1709621

	
792040

	
13

	
1709487

	
792196

	
28

	
1709663

	
791963

	
14

	
1709526

	
792164

	
29

	
1709662

	
792008

	
15

	
1709551

	
792179

	
30

	
1709692

	
791973

 

	
2.  

	
Bai Go area: 3.67 ha

 

	
Conner point

	
X (m)

	
Y (m)

	
Conner point

	
X (m)

	
Y (m)

	
31

	
1708839

	
791795

	
41

	
1708559

	
791841

	
32

	
1708775

	
791805

	
42

	
1708638

	
791801

	
33

	
1708728

	
791855

	
43

	
1708671

	
791819

	
34

	
1708731

	
791893

	
44

	
1708715

	
791765

	
35

	
1708712

	
791942

	
45

	
1708639

	
791695

	
36

	
1708694

	
791970

	
46

	
1708670

	
791649

	
37

	
1708616

	
791922

	
47

	
1708740

	
791697

	
38

	
1708606

	
791919

	
48

	
1708775

	
791680

	
39

	
1708569

	
791899

	
49

	
1708794

	
791744

	
40

	
1708554

	
791868

	  	  	  

 

(VN-2000 coordinate system, meridian line 105, latitude 6o)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]