You are on page 1of 1
a). That Party A as the Beneficial Owner of Shop 5GF, have agreed to transfer all her rights and interest in Shop 5GF to Party B void of any encumbrances. b). That Party B as the Beneficial Owner of Shop 6GF, have also agreed to transfer all his rights and interest in Shop 6GF to Party A void of any encumbrances. c) The Parties herein have agreed to the EXCHANGE of their respective shop between themselves and for themselves via this Memorandum of Understanding, void of any encumbrances. IT IS HEREBY AGREED as follows That in pursuance of the aforesaid MOU, the Parties hereby covenants with each other that each Beneficial Owner shalll pay and discharge all rates, taxes, assessment and outgoings that are now or may hereafter be impose or charged upon the said shop received to the appropriate Local Government Council, or any other appropriate or lawful authority. The Parties, having accepted/received his or her own share of the said Shops. hereby reserved and shall peaceably hold and enjoy the Shop without any person claiming through, under, or in trust for them. The Parties hereby and unequivocally consent to document of title to be issued in the name of a Beneficiary who may wish to acquire such title and further undertake to sign any document and to do anything that will vest legal title to the Shop received. The Parties guarantees each other that, the shops which are the subject matter of this MOU are free from all Customary and legal encumbrances whatsoever and hereby undertake to indemnify each other against all costs, losses, expenses, liabilities or otherwise which Any of them may incur or sustain directly or indirectly by reason of any claim being brought by any person against the proprietary rights or interest of any of them. The Parties hereby further covenant with each other that they have full power to all their rights and interest in the said shops herein and that they have not done any act, deed or anything whatsoever whereby they are prevented from exchanging the said - shops between themselves. :