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BETWEEN
CEDARFIELD DEVELOPMENT COMPANY LIMITED of No 21 A,
Lateef Jakande Road, Agidingbi, Ikeja Lagos, Nigeria (the investor) of
the ONE PART
AND
OBASA AND CO, Estate Surveyors and Valuers of Suite II, Ist Floor,
Iyasuna Petroleum complex, No 10 Asabi cole street, off Lateef Jakande
Road Agidingbi, Ikeja Lagos, Nigeria (the facilitator) of the OTHER
PART.
1. WHEREAS:
2. CONSIDERATION
3. TERMS OF AGREEMENT
(c) That the investor shall at its own cost undertake to perfect the
necessary document to secure the facilitator’s title.
(d)That each party shall be at liberty to transfer its title over the
plots of land to any prospective purchaser in accordance with
the existing pricing of the estate.
4. ARBITRATION
Any dispute arising out of, under or in connection with the construction,
meaning of effect of this Memorandum of Understanding or the rights or
liabilities herein stated shall at first instance be resolved by mutual
agreement by a panel of two members appointed by parties of a member
each. Wherein such amicable settlement fails, shall be settled by
arbitrators in accordance with the provisions of the Arbitration and
Conciliation Acts in force in Nigeria, and the award by the arbitration
shall be binding on both parties and be enforced by a court of competent
Jurisdiction.
IN WITNESS whereof the parties have set their hands and caused their
common seals to be affixed the day and year first above written.
THE COMMON SEAL OF the within named Investor CEDARFIELD
DEVELOPMENT COMPANY LIMITED is hereby affixed in the presence
of:
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DIRECTOR SECRETARY