Right of Set-off
The Borrower covenants that as well as any basic lien or comparable straight to that your Lender as a banker might be entitled for legal reasons, the financial institution may whenever you want and with no warning into the Borrower combine or combine all or some of the Borrower’s reports with any liabilities into the Lender and tripped or move any amount or amounts standing towards the credit of anyone or maybe more of these records in or towards satisfaction for the Borrower’s liabilities into the Lender or other respect whether such liabilities be actual or contingent, main or collateral and many or joint.
Further to your above and also by signing these conditions and terms, the Borrower covenants to settle the mortgage as so when due. The Borrower’s indebtedness from any money standing to the Borrower’s 
credit in any bank account and from any other financial assets they may be holding for the Borrower’s benefit in the event that the Borrower fails to repay the Loan as agreed, and the Loan becomes delinquent, the Bank shall have the right to report the delinquent Loan to the Central Bank of Nigeria (“CBN”) through the Credit Risk Management System (CRMS) or by any other means, and request the CBN to exercise its regulatory power to direct all banks and other financial institutions under its regulatory purview to set-off.
The Borrower covenants and warrants that the lender shall have energy to set-off the Borrower’s indebtedness under these conditions and terms is Loan from all such monies and funds standing towards the Borrower’s credit/benefit in almost any and all sorts of such records or from every other economic assets from the Borrower plus in the custody of every such bank and/or just about any institution that is financial.
Legal along with other Expenses
The Borrower shall reimburse the financial institution for many reasonable away from pocket costs, expenses, and fees incurred by the lender relating to the planning, execution, enforcement and administration of this regards to this offer, including yet not limited by Solicitors charges, Stamp Duties and Registration costs. Such fees and expenses shall in the case of non-payment by the Borrower on need be included with the center as well as other moneys owing underneath the regards to this offer and shall accordingly bear interest.
Insurance Coverage
The Borrower shall maintain a credit life insurance coverage against loss in life and such other dangers given that Bank may from time to time consider necessary within an Insurance Company authorized by the financial institution. The Bank’s interest as very first loss payee should be duly endorsed from the insurance plan.
Taxes
All re re re payments whether of principal, interest or elsewhere will be made clear and free of and without deduction of every fees, duties, costs, costs, deductions, withholdings, set-offs, counterclaims, limitations or conditions of every nature. Then the sum due from the Borrower in respect of such payment shall be increased to the extent necessary to ensure that after making of such deductions or withholding, the Bank receives a net equal to the sum which it would have received had no such deduction or withholding been required to be made if at any time, provision of the law or any taxing authority shall require the Borrower to make any such deduction or withholding from any such payment.