Screm Terraces Wuye Abuja

Dear Sir/Madam,

“Subject to Contract”

SCREM TERRACES WUYE ABUJA

LETTER OF OFFER

We refer to your application to purchase a 3 Bedroom Town House in Screm Terraces, Wuye, Abuja and we are pleased to offer you same on the following terms and conditions subject to contract.

A. (1) VENDOR: Eruriz Nigeria Ltd

(2) BUYER:

(3) PROPERTY: A 3-Bedroom Town House which consists of 2nos. living rooms,

dinning room, kitchen/store, 3 bedrooms all en-suite, and 1 Room en-suite Boys’ quarter.

(4) TITLE: Deed of Partition backed by Certificate of Occupancy No.

1626w-e066z-3a37r-84bbu-10 dated 21st day of December, 2009 known as Plot No. 954 located within Cadastral Zone B03 Wuye, Abuja with file No MISC 54936

(5) FACILITIES/ SERVICES PROVIDED:

· Interlocked Roads / Driveways

· Private / Visitors Parking

· Swimming pool with Kiddies Play Zone

· Fully Fitted Kitchen

· Club House + Gym + Shop + Drivers’ room

· Dedicated transformer and stand-by power supply;

· Fire Detection and Alarm System;

· 24 Hours Security

· Good landscaping

· Comprehensive Estate Management Service.

· Internet / WIFI Connectivity

· Stable Water Supply: Borehole, Reservoir and Water Treatment plant;

(6) PRICE: N80, 000,000.00 (Eighty Million Naira Only) exclusive of

VAT @ 5% and other charges payable as follows:

(a) SERVICE CHARGE DEPOSIT: N500, 000.00 (Five Hundred Thousand Naira Only)

(b) SURVEY FEE: N150, 000.00 (One Hundred and Fifty Thousand Naira Only)

(7) PAYMENT OPTIONS

Option 1: Outright purchase with 100% payment attracts 4%

discount. This entitles allottee for immediate allocation.

Option 2:

% Due Date:

Initial Deposit 30 On acceptance of offer

2nd Installment 25 3 Months post initial Deposit

3rd Installment 25 6 Months post initial Deposit

Final Payment 20 Before Possession

B. OTHER TERMS AND CONDITIONS

a. The Buyer shall be given possession of the property ONLY upon full payment of the consideration. All allocations are provisional until full payment is received by the Vendor.

b. If the Buyer fails, refuses or neglects to pay any installment within 21 days after the due date, the Buyer shall pay interest on the amount due at the prevailing bank interest rate. If the Buyer fails to pay the amount due within 45 days after the due date, the sale shall be deemed rescinded and the deposit already made shall be refunded to the Buyer less 10% administrative expenses incurred by the Vendor.

c. The Vendor shall execute a Deed of Assignment for the unexpired residue of the term granted under Certificate of Occupancy No1626w-e066z-3a37r-84bbu-10 dated 21st day of December, 2009.

d. The Vendor shall undertake the maintenance of all common facilities within the Estate including plant and machinery and the cost of such services shall be borne by all residents of the Estate proportionately. The cost of replacement of major plants and machinery shall also be borne by all residents.

e. The Buyer shall perform and observe the covenants terms and conditions in the Certificate of Occupancy from which the Vendor derives its title, pay the ground rent, service charge and any other charges as will be contained in the Deed of Assignment and any increment on the said charges and for electricity consumed in the Estate.

f. The buyer shall ensure that the property is occupied within 6 months from the date of possession is given to the property. In the event of default the vendor reserves the right to let out the property to tenant and rent paid shall be remitted to the buyer or take over possession of the property and refund the purchase sum less any amount that may be owed to the vendor. The decision as to letting out of the property or refund of the purchase sum shall be within the sole discretion of the Vendor.

g. The Buyer shall pay and discharge all future tenement rates and other taxes, duties, assessments, imposition and other out-goings of an annual and recurrent nature, which are now or may be charged, levied, assessed or imposed upon the premises by Federal, State or Local Government during the term to be created.

h. The Buyer shall enter into a Service Management Agreement with the Vendor on agreed terms and conditions.

i. The Buyer shall make and rely upon its own inquiries and shall satisfy itself in all respects in relation to the following:

i) Title details including all related documentation;

ii) Building condition: The Buyer shall inspect the Property and shall satisfy itself as to the physical condition of all structures and building installations, its current state and shall hold harmless the Vendor against any claim for deficiencies in the building’s structure and or installations.

j. Purchase price once received is not subject to any refund. In exceptional cases where the Vendor accepts to refund the purchase price, the property shall first be offered to another buyer and the refund shall be made from the purchase price received from the subsequent buyer. Where the purchase price received from the subsequent buyer is less than the purchase price received from the original buyer, the original buyer undertakes to bear the loss and to hold the Vendor harmless against any claim for such loss.

Declaration:

I hereby do declare that I agree with the above terms and conditions.

………………………………………………………………………………….. ………………………………..

Subscriber’s Name & Signature: Date:

Note please that Eruriz Nig. Ltd adopt a policy of continual upgrading/improvement and thereby reserve the right to alter this general specification and price without prior notice.

If the above terms and conditions are acceptable to you, kindly complete the acceptance form attached to the offer letter to enable us advice you on account to be credited.

Please note that this offer is subject to availability of the property unit at the time of response.

Yours faithfully,

For: Eruriz Nig. Ltd.

Dr. Henry Ejo-Orusa Glory Oparaodu

General Manager Marketing Manager

Corporate HQ

Riz Plaza, No. 121 Stadium Road, Plot 3656 Orinoco Crescent, Off Nile Street,

Port Harcourt. Tel: +234 80 331 22283 Maitama – Abuja, Tel: +234 9 673 1155