Purchase Contract with Overseas Buyer The Buyer and Standby Letter of Credit
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2011 AND DECEMBER 31, 2010 AND CONSOLIDATED COMPREHENSIF STATEMENTS OF INCOME FOR THE THREE MONTHS
PERIOD ENDED MARCH 31, 2011 AND 2010 Continued
- 50 - On December 27, 2007, Murni Jaya obtained from Bank Mandiri a maximum credit of
Rp 19,417,000 thousand. The facility is used to refinance the palm plantation with a total area of 2,612.43 hectares in Banjar Agung District, Tulang Bawang, Lampung.
The loan facility has a term of five 5 years, with quarterly installment starting in 2008 until 2012. Interest rate per annum is 13.5.
The loan is secured by the palm plantation which has been refinanced and a corporate guarantee from BNIL.
On November 14, 2007, Mesuji E obtained a credit facility from Bank Mandiri with a maximum loanable amount of Rp 18,562,000 thousand. The facility is used to
refinance the palm plantation with a total area of 2,508.5 hectares in Way Serdang District, Tulang Bawang, Lampung. The loan facility has a term of five 5 years, with
quarterly installment starting in 2008 until 2012. Interest rate per annum is 13.50. The loan is secured by the palm plantation which has been refinanced and a
corporate guarantee from BNIL.
On October 28, 2009, Karya Makmur obtained a credit facility from Bank Mandiri with a maximum loanable amount of Rp 51,227,000 thousand. The facility is used to
refinance the palm plantation with a total area of 4,022 hectares in Pakuan Ratu District dan Negara Batin District, Way Kanan, Lampung. The loan facility has a term
of five 5 years, with quarterly installment starting in 2009 until 2014. Interest rate per annum is 14.
In relation to these agreements, the Company and BNIL are committed to, among others: develop the plantations belonging to the KUD members;
provide training in administration, management and technical skills; purchase all fresh fruit bunches from the farmers as long as the plasma plantations
are producing; and pay the loan installments to Bank Mandiri from the amounts withheld from the
payments to the farmers.