15 October 2005
Mrs. Nataly Booker
121 Vermont Drive ,
Dunedin
The Manager,
Post Bank Ltd.,
10 Otago Ave.,
Dunedin
Dear Sir,
Re: Pledge of mortgaged gold nugget against Loan.
As security for the due repayment of my loan No. 3405 together with interest, I mortgaged with you the Gold nugget of the net weight of 3500 grams, valued at the current market rate of over $ 35,000.00.
I further state that, in case of my failing to repay the said loan to the bank together with the interest, I authorize the Bank to dispose off the said nugget and from the proceeds thereof reimburse itself. I also undertake to bind myself to make good any shortfall in connection with my loan obligations.
The notice of demand from the bank shall be deemed by me to have been received if it is sent on my last registered address. I undertake not to raise any objections to the mode of sale of my nugget by the bank and will not claim any damages from the bank on the ground of any irregularity of the sale.
I look forward to hearing from you as soon as possible.
Yours faithfully,
Nataly Booker
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