DEED OF ASSIGNMENT

BETWEEN

DAVID ADEGBOLA ADENIRAN

AND
CAPT FOLAYAN J. OJUTALAYO
(ASSIGNORS)

AND

PWAN STERLING REALTIES LIMITED

(ASSIGNEE)

____________________________________________________

IN RESPECT OF ALL THAT TWENTY (20) ACRES OF LAND MEASURING

APPROXIMATELY 120 PLOTS, LYING AND SITUATE ALONG KETU OMU
ROAD, ORIETA COMMUNITY, EPE, EPE LOCAL GOVERNMENT AREA,
LAGOS STATE.
______________________________________________________________________________

PREPARED BY:

DR. PRINCE O. WILLIAMS-JOEL MCIArb

FOR: PRINCE JOEL & ASSOCIATES
LEGAL PRACTITIONERS,
5A DOZEK CLOSE CHEVRON DRIVE,
OFF ALTERNATIRESIVE ROUTE,
LEKKI, LAGOS.
08034869295, 08020550410
princejoelesq@yahoo.com
info@pjalegal.com
www.pjalegal.com
THIS DEED OF ASSIGNMENT is made this _______day of ________
20__.

BETWEEN

DAVID ADEGBOLA ADENIRAN AND CAPT. FOLAYAN J.

OJUTALAYO, of House J43, Road 3, Victoria Garden City, Lekki Epe Expressway,
Eti-Osa Local Government Area, Lagos State; Plot 3, Folayan Ojutalayo Close, Awoyaya,
Ibeju Lekki, Lagos State respectively, (hereinafter referred to as the “ASSIGNORS”)
which expression shall where the context so admits mean and include their Heirs,
Privies, Successors-in-Title, Executors, Authorized Representatives and Assigns, of the
ONE PART.

AND

PWAN STERLING REALTORS LIMITED, a Limited Liability Company

incorporated under the laws of the Federal Republic of Nigeria with its office at 865
Sunview Orchad Estate, behind Prince Ebeano Supermarket, Agungi, Lekki, Lagos State,
Lagos State, Nigeria, (hereinafter referred to as the “ASSIGNEE”) which expression
shall where the context so admits include Heirs, Executors, Administrators, Agents,
Assigns, Privies and Personal Representatives, of the OTHER PART.

WHEREAS:

1. The ASSIGNORS became seized of all that Twenty (20) Acres of Land
measuring approximately 120 Plots, lying and situate along Ketu Omu Road,
Orieta Community, Epe, Epe Local Government Area, Lagos State, by virtue of
PURCHASE from the accredited representatives of the ADEYOWA
DESCENDANTS FAMILY, who became the accredited representatives of the
land through inheritance from their fore fathers who were the original settlers on
the land, subject to Yoruba Native Law and Custom, and were entitled to
Customary Right of Occupancy. The Family has been in active possession of the
aforementioned land and exercised their rights as owners through farming and
letting out the property without any disturbance or encumbrance arising.

2. The ASSIGNORS are desirous of assigning their rights and interest in all that
Twenty (20) Acres of Land measuring approximately 120 Plots, lying and situate
along Ketu Omu Road, Orieta Community, Epe, Epe Local Government Area,
Lagos State, (hereinafter referred to as the PROPERTY) to the ASSIGNEE and
the ASSIGNEE has agreed to purchase the PROPERTY from the
ASSIGNORS subject to the conditions set out herein.
NOW THIS DEED WITNESSES AS FOLLOWS:
In consideration of the sum of ₦120,000,000.00 (One Hundred and Twenty
Million Naira Only), for all that Twenty (20) Acres of Land measuring approximately
120 Plots, paid by the ASSIGNEE to the ASSIGNOR the receipt of which the
ASSIGNOR hereby acknowledges. The Assignor as BENEFICIAL OWNER hereby
assigns UNTO THE ASSIGNEE its unexpired interest in all that Twenty (20) Acres of
Land measuring approximately 120 Plots, lying and situate along Ketu Omu Road,
Orieta Community, Epe, Epe Local Government Area, Lagos State better described in
the Survey Plan document dated 19/09/23 and drawn by Ovadje C.E (Registered
Surveyor), with all rights, easements, and things appurtenant thereto TO HOLD the
same UNTO the ASSIGNEE for the term unexpired subject to the provision of the
Land Use Act 1978.

IT IS HEREBY AGREED AS FOLLOWS:

THE ASSIGNORS COVENANTS WITH THE ASSIGNEE

1. The Assignors hereby covenants that they possess full power, authority and right
to assign the unexpired rights, interests and title in the property to the Assignee
and that the Assignee shall peaceably hold and enjoy the demised property and
interest assigned throughout the term hereby created without any interruption
and/or disturbance by the Assignors or any person(s) rightfully claiming through,
under or in trust for it.

2. The Assignors hereby warrants in respect of its title that there are no subsisting
third party rights, interests, charges and encumbrances whatsoever existing or
attached to the Property.

3. The Assignors further covenants to indemnify the Assignee for any successful
third party claims, proceedings, costs, expenses, and liabilities, arising from any
established defect in the title of the Assignor, in relation to the demised property.

4. That the Assignors will on the request and at the cost of the Assignee or any
person deriving title through him, execute or do all such acts as will enable the
Assignee to register their title or deeds to this property pursuant to any statutory
duty.

5. That the Assignors shall not create or permit the creation of any charge or
encumbrance in any way whatsoever which shall be detrimental to the Assignee’s
possession of the demised property.

6. In consideration of the Assignee paying or having paid all the sums due in
advance and abiding by, performing and/or observing all covenants, conditions
 and stipulations, expressly stated or implicitly inferred herein to be performed
and observed; the said Assignee shall peaceably hold and enjoy the demised
property without any interruption by the Assignors or any person or persons
rightfully claiming from or under them.

THE ASSIGNEE COVENANTS WITH THE ASSIGNORS

7. The Assignee hereby covenants to assume and perform all rights, duties, and
covenants hitherto required of the Assignors including the payment of all land
and development charges, rates and levies which may from time to time be
imposed by the Governor of Lagos State or any other competent authority.

8. The Assignee shall not use the demised property for any unlawful purposes or
carry on any offensive and/or dangerous or illegal activities on the property.

SCHEDULE

1. ALL THAT TWENTY (20) ACRES OF LAND MEASURING

APPROXIMATELY 120 PLOTS, LYING AND SITUATE ALONG KETU
OMU ROAD, ORIETA COMMUNITY, EPE, EPE LOCAL
GOVERNMENT AREA, LAGOS STATE.

2. SURVEY PLAN DOCUMENT DATED 19/ 09/23 AND DRAWN BY

OVADJE C.E (REGISTERED SURVEYOR).

3. COORDINATES BEING 735610.955mN; 596916.577mE

IN WITNESS WHEREOF, the parties have set their hands and seals the day and year
first above written:

SIGNED, SEALED AND DELIVERED

By the within named ASSIGNORS

_____________________________
DAVID ADEGBOLA ADENIRAN
_____________________________
CAPT. FOLAYAN J. OJUTALAYO

In the Presence of:

Name: _________________________________
Address: _______________________________
Occupation: ____________________________
Signature: _____________________________

SIGNED, SEALED AND DELIVERED

By the within named ASSIGNEE

THE COMMON SEAL OF THE ASSIGNEE PWAN STERLING REALTORS

LIMITED is hereby affixed

___________________
COMMON SEAL
In the Presence of:
__________________ ____________________
DIRECTOR
DIRECTOR/SECRETARY

I HEREBY CONSENT TO THE TRANSACTION HEREIN CONTAINED

Dated this _______ Day of ______________ 20 ____

_____________________________________________________
THE HONOURABLE ATTORNEY-GENERAL/COMMISSIONER FOR
JUSTICE FOR THE EXECUTIVE GOVERNOR OF LAGOS STATE