BUILD OPERATE AND TRANSFER AGREEMENT

BETWEEN

MR. ONUNABI OLUJUMI

OF 12 IFO CLOSE OMOLE PHASE 1 ESTATE OLOWORA IKEJA

LAGOS STATE

AND

           A.A.  AND BRENDA LTD,

OF 15 ADETAYO OGUNMAKE STREET OJODU ABIODUN IKEJA

LAGOS  STATE

This agreement to build, operate and transfer is made this ..........day of ..............2012.

BETWEEN

MR. ONUNABI OLUJUMI  OF 12 IFO CLOSE OMOLE PHASE 1 ESTATE OLOWORA IKEJA LAGOS STATE (hereinafter called the “Landlord”                           which expression shall wherein the context so admits mean and include his heirs, Agents, Privies or Successor in-title) of the one part.

AND

A. A.  AND BRENDA LTD, OF 15 ADETAYO OGUNMAKE STREET OJODU ABIODUN IKEJA LAGOS  STATE.( Hereinafter called “THE ESTATE DEVELOPER” which expression shall wherein the context so admits mean and include his heirs, Agents, privies or Successors in title) of the second part.

1.           The landlord is desirous of giving out his .............plot of land to the Estate Developer for the purpose of erecting the ...........building on the Plot.

2.           The Estate Developer is interested in Developing the said .............plot of land to a desirable ...............building at the choice of the Landlord.

IT IS HEREBY AGREED AS FOLLOWS:

1.           That the commencement of the .............building will take effect from ................day of ...........2012 for a period of ................Months/Year.

2.           Both parties have reached an understanding that the estimated cost for the erection of the said ................building is put at the cost of N12.750.395 Twelve Million, Seven Hundred and Fifty Thousand, Three Hundred and Ninety Five Naira Only.

3.           Both parties also reached an understanding that the Estate Developer will bear the total cost of erecting the said .............building.

4.           It is further agreed that at the completion of the ...............building, the Estate Developer shall posses the said ................building for a period of 8 years, which period shall be determined by both parties from the date the Estate Developer takes possession .

IN WITNESS WHEREOF THE PARTIES HAVE HERE UNTO SET THEIR HANDS THE DAY AND YEAR FIRST ABOVE WRITTEN.

SIGNED, SEALED AND DELIVERED

BY THE WITHIN NAMED (LANDLORD).

_____________________

MR. ONUNABI OLUJUMI

                                       

IN WITNESS WHEREOF THE PARTIES HAVE HERE UNTO SET THEIR HANDS THE DAY AND YEAR FIRST ABOVE WRITTEN.

SIGNED, SEALED AND DELIVERED

BY THE WITHIN NAMED “ESTATE DEVELOPER”

______________________

MR. CHUKWUMA MADU

For A. A. AND Brenda LTD