NIGERIAN LAW SCHOOL

LAGOS CAMPUS
PROPERTY LAW PRACTICE
SOME PRECEDENTS
(WEEKS 4 to 12)

CONTENTS:
PAGE
1) Power of Attorney (Where NO consideration is paid for irrevocability) ---------------- 2
2) Power of Attorney (Where some consideration is paid for irrevocability) -------------- 3
3) Deed of Assignment -------------------------------------------------------------- 4
4) Abstract of Title ------------------------------------------------------------------ 6
5) Search Report (in Sale of land, without a Covering Letter) ----------------- 7
6) Search Report (in Sale of land, with a Covering Letter) --------------------- 8
7) (Deed of) Sublease (with consideration and receipt clauses) --------------- 10
8) (Deed of) Sublease (without consideration and receipt clauses) ----------- 13
9) Deed of Legal Mortgage (Charge by Deed) ---------------------------------- 16
10) Deed of Legal Mortgage (Assignment) --------------------------------------- 18
11) Deed of Legal Mortgage (Sub-Demise, WITH A SURETY) -------------- 20
12) Deed of Legal Mortgage (Sub-Demise, WITHOUT SURETY) ----------- 22
13) Search Report (in mortgages) -------------------------------------------------- 24

POWER OF ATTORNEY
(NO CONSIDERATION IS GIVEN FOR IRREVOCABILITY)
BY THIS POWER OF ATTORNEY made this ....... day of ...................., 2014, I, Chief Tonye Okiki of 2,
Abudu Smith Street, Victoria island, Lagos (DONOR) hereby APPOINT Wale Mulumba & Co Limited, a
company incorporated under the Companies & Allied Matters Act, Cap C20, LFN, 2004, having its
registered office at 6, Idowu Street, Ogudu, Lagos (DONEE) to be my lawful attorney and on my behalf
and in my name to do all or any of the following:
(1) To find a buyer or buyers and sell my two-storey house together with Stewards Quarters and garage,
located at 2, Abudu Smith Street, Victoria island, Lagos, covered by Title Certificate No: L05166 of
1963 and by the Certificate of Statutory Right of Occupancy No: 87345, dated 19/09/2001 and
registered as 99/99/2001H in the Lands Registry, Alausa, Ikeja, Lagos State
(2) To commence, undertake and conclude the said transaction on my behalf, and on my behalf to
sign/execute all necessary documents in respect of the same
AND to do all and any other things necessary and incidental for the carrying out of the powers created
above
IT IS DECLARED that this Power of Attorney shall be and remain irrevocable for a period of EIGHT (8)
months from the date of its execution
IN WITNESS OF WHICH I, the Donor, has executed this Power of Attorney in the manner below the day
and year first above written
SIGEND, SEALED, & DELIVERED by the DONOR

--------------------------CHIEF TONYE OKIKI

IN THE PRESENCE OF:
NAME:.......................................................................
ADDRESS:................................................................
OCCUPATION:........................................................
SIGN:...........................................................................

Prepared By:
..
Bili Oke Esq,
Bili Oke & CO.,
LEGAL PRACTITIONERS,
12, Asmau Street, Ikeja, Lagos State.
08029000007, yuldabet09034@yahoo.com

POWER OF ATTORNEY
(CONSIDERATION IS GIVEN FOR IRREVOCABILITY)
BY THIS POWER OF ATTORNEY made this ....... day of ...................., 2014, I, Chief Tonye Okiki of 2,
Abudu Smith Street, Victoria island, Lagos (DONOR) hereby APPOINT Wale Mulumba & Co Limited, a
company incorporated under the Companies & Allied Matters Act, Cap C20, LFN, 2004, having its
registered office at 6, Idowu Street, Ogudu, Lagos (DONEE) to be my lawful attorney and on my behalf
and in my name to do all and any of the following:
1.

To find a buyer or buyers and sell my two-storey house together with Stewards Quarters and garage,
located at 2, Abudu Smith Street, Victoria island, Lagos, covered by Title Certificate No: L05166 of
1963 and by the Certificate of Statutory Right of Occupancy No: 87345, dated 19/09/2001 and
registered as 99/99/2001H in the Lands Registry, Alausa, Ikeja, Lagos State

2. To commence, undertake and conclude the said transaction on my behalf, and on my behalf to
sign/execute all necessary documents in respect of the same
AND to do all and any other things necessary and incidental for the carrying out of the powers created
above
In consideration of the sum of N100,000 (One Hundred Thousand Naira) only, paid by the Donee to
the Donor (the receipt of which the Donor acknowledges), IT IS DECLARED that this Power of
Attorney shall be and remain irrevocable for a period of two (2) years from the date of its execution
IN WITNESS OF WHICH I, the Donor, has executed this Power of Attorney in the manner below the day
and year first above written
SIGEND, SEALED, & DELIVERED by the DONOR

--------------------------CHIEF TONYE OKIKI

IN THE PRESENCE OF:

NAME:.......................................................................
ADDRESS:................................................................
OCCUPATION:........................................................
SIGN:...........................................................................
Prepared By:
..
Bili Oke Esq,
Bili Oke & CO.,
LEGAL PRACTITIONERS,
12, Asmau Street, Ikeja, Lagos State.
08029000007, yuldabet09034@yahoo.com

DEED OF ASSIGNMENT
A.

INTRODUCTORY PART

THIS DEED OF ASSIGNMENT is made this ..... day of ., 2014 BETWEEN: CHIEF
TONYE OKIKI of 2, Abudu Smith Street, Victoria Island, Lagos, Nigeria (Assignor) of the one part; and
SENATOR BOGUS YELLOWE of 15, Wale Cole Close, Banana Island, Ikoyi, Lagos, Nigeria (Assignee)
of the other part.
WHEREAS:
(A) The Assignor herein is the owner of the two-storey house together with Stewards Quarters and
Garage located at 45, Emir Sambo Street, Jos, Plateau State, covered by Certificate of
Occupancy No 73458, dated 09/05/2004 and registered as 59/59/2031 in the Lands Registry,
Jos, Plateau State;
(B) The Assignor has agreed to assign his unexpired residue in the said Right of Occupancy to the
Assignee herein, who on his part has agreed to take the same subject to the terms and conditions
contained in this Deed.
(B) OPERATIVE PART
NOW THIS DEED IS WITNESSES as follows:
In consideration of the sum of N200,000,000.00 (two hundred million Naira) only
paid by the ASSIGNEE to the ASSIGNOR (the receipt of which the ASSIGNOR
acknowledges), the ASSIGNOR as BENEFICIAL OWNER ASSIGNS to the ASSIGNEE
ALL THAT TWO STOREY HOUSE together with Stewards Quarters and Garage located at 45, Emir
Sambo Street, Jos, Plateau State, covered by Certificate of Occupancy No 73458, dated 09/05/2004 and
registered as 59/59/2031 in the Lands Registry, Jos, Plateau State, To HOLD the same UNTO the

ASSIGNEE for the term unexpired on the said Right of Occupancy, subject to the
provisions of the Land Use Act, Cap. L5, LFN 2004.
(c) MISCELANEOUS PART
1..
2..
3
4. ETC
(D) CONCLUDING PART
IN WITNESS OF WHICH the parties have executed this Deed in the manner below
the day and year first above written
SIGNED, SEALED & DELIVERED
by the within-named ASSIGNOR:

________________
CHIEF TONYE OKIKI
IN THE PRESENCE OF:
SIGNATURE:
NAME:
ADDRESS: ..
OCCUPATION: ..

SIGNED, SEALED AND DELIVERED

by the within named ASSIGNEE:

_______________________
SENATOR BOGUS YELLOWE
IN THE PRESENCE OF:
SIGNATURE:
NAME:
ADDRESS: ..
OCCUPATION: ..

PREPARED BY:
..
Bili Oke Esq,
Bili Oke & CO.,
LEGAL PRACTITIONERS,
12, Asmau Street, Ikeja, Lagos State.
08029000007, yudabet09034@yahoo.com

ENDORSEMENT FOR GOVERNOR`S CONSENT

I CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED.

DATED THIS ............. DAY OF ..................., 20......

_______________________________________________
HON. ATTORNEY-GENERAL & COMMISSIONER FOR JUSTICE
FOR: EXECUTIVE GOVERNOR, PLATEAU STATE, NIGERIA

ABSTRACT OF TITLE
IN RE: THE THREE-STOREY BUILDING AT 43, UDO STREET, IKEJA, LAGOS
1. Mrs. Uduak Ufot Okoye died in 1960 leaving a will in which she left her three-storey
building at 34, Oduduwa lane, Ikeja, Lagos, to her daughter, Dr Deola Okoye;
2. By a Deed of Gift dated 12/11/1970, Dr Deola Okoye made a gift of the property to her
fiance, Mr. Guy Pwol;
3. In 1979, Lagos State Government re-numbered the street and the property now became
43 Udo Sreet, Ikeja, Lagos;
4. In 1984, in execution of a judgment against Mr. Guy Pwol, the property was sold by
public auction to Mazi Olowu Aboki of 34, Arewa Close, Ikoyi, Lagos. A certificate of
Purchase was issued to Mazi Olowu Aboki;
5. Mazi Olowu Aboki died intestate leaving an only son, Mr. Ibo Aboki;
6. By a Land Sale Agreement dated 23/09/2006, Mr Ibo Aboki sold the property to Madam
Nneoma Adede of 56, Adamma Street, Ojota, Lagos;

7. In 2009, Mr. Barth Denge sold the property to Mrs. Ada Oladimeji vide a Deed of
Assignment registered as 34/34/1345;
8. In 2011, Mrs. Ada Oladimeji obtained a Certificate of Occupancy 10/10/2010 registered
as 59/59/2010A in respect of the property;
9. In 2011, Mrs. Ada Oladimeji obtained a loan of N130 million from GTBank Plc and
executed a legal mortgage registered as 22/22/2087 in respect of the property.

Dated this .. day of .. 2014

Signed:
..
Ogu Okpaku Esq.,
Ogu Okpaku & Co.,
Solicitor to the Vendor
25, Egunju Street,
Ikeja, Lagos
08111444555,
oguco@yahoo.com

SEARCH REPORT

(WITHOUT A COVERING LETTER)

BILI OKE & CO

LEGAL PRACTITIONERS
12, ASMAU STREET, IKEJA, LAGOS STATE, NIGERIA
08027666643, yudabet@yahoo.com
Date: 18 June 2014
SENATOR BOGUS YELLOWE,
15, Wale Cole Close,
Banana Island,
Ikoyi, Lagos

Dear Sir,
SEARCH REPORT ON PROPERTY LOCATED AT 2, ABUDU SMITH STREET,
VICTORIA ISLAND, LAGOS
Kindly refer to your letter dated 24 May 2014, ref no: SBY/2345/2014 on the above subject and
find below our report of the search:
1. Date of Search:

10 June 2014

2. Places of Search:

Land Registry, Alausa, Ikeja, Lagos State;

3. Name of Owner:

Chief Tonye Okiki of 2, Abudu Smith Street,

Victoria Island, Lagos

5. Nature of Interest:

Statutory right of occupancy

6. Description of the Property:

and

The two-storey house together with Stewards Quarters

garage, located at 2, Abudu Smith Street, Victoria

island,
Lagos, covered by Title Certificate No: L05166 of 1963
and
by the Certificate of Statutory Right of Occupancy No:
87345, dated 19/09/2001 and registered as 99/99/2001H
in the
Lands Registry, Alausa, Ikeja, Lagos State
7. Encumberances:

Legal mortgage in favour of Heritage bank Plc,

registered as .

8. Comment/Advice:

Title is sound, but property is encumbered.

Purchaser should discontinue the transaction until
Legal mortgage is discharged

Thanks, sir, for your cooperation.

Yours faithfully,

Bili Oke Esq.

SEARCH REPORT
(WITH A COVERING LETTER)

BILI OKE & CO

LEGAL PRACTITIONERS
12, ASMAU STREET, IKEJA, LAGOS STATE, NIGERIA
08027666643, yudabet@yahoo.com
Date: 18 June 2014
SENATOR BOGUS YELLOWE,
15, Wale Cole Close,
Banana Island,
Ikoyi, Lagos
Dear Sir,
SEARCH REPORT ON PROPERTY LOCATED AT 2, ABUDU SMITH STREET,
VICTORIA ISLAND, LAGOS
Kindly refer to your letter dated 24 May 2014, ref no: SBY/2345/2014 on the above subject and
find attached our report of the search:
Our invoice is also attached for your kind attention
Yours faithfully,
BILI OKE ESQ.
Principal Partner

ATACHMENT:

BILI OKE & CO

LEGAL PRACTITIONERS
12, ASMAU STREET, IKEJA, LAGOS STATE, NIGERIA
08027666643, yudabet@yahoo.com
Date: 18 June 2014
SENATOR BOGUS YELLOWE,
15, Wale Cole Close,
Banana Island,
Ikoyi, Lagos
Dear Sir,
SEARCH REPORT ON PROPERTY LOCATED AT 2, ABUDU SMITH STREET,
VICTORIA ISLAND, LAGOS
1. Date of Search:

10 June 2014

2. Places of Search:

Land Registry, Alausa, Ikeja, Lagos State;

3. Name of Owner:

Chief Tonye Okiki of 2, Abudu Smith Street,

Victoria Island, Lagos

5. Nature of Interest:

Statutory right of occupancy

6. Description of the Property:

and

The two-storey house together with Stewards Quarters

garage, located at 2, Abudu Smith Street, Victoria

island,
Lagos, covered by Title Certificate No: L05166 of 1963
and
by the Certificate of Statutory Right of Occupancy No:
87345, dated 19/09/2001 and registered as 99/99/2001H
in the
Lands Registry, Alausa, Ikeja, Lagos State
7. Encumberances:

Legal mortgage in favour of Heritage bank Plc,

registered as .

8. Comment/Advice:

Title is sound, but property is encumbered.

Purchaser should discontinue the transaction until
Legal mortgage is discharged

Thanks, sir, for your cooperation.

Yours faithfully,

Bili Oke Esq.

Principal Partner

DEED OF SUB-LEASE
(with consideration & receipt clauses)
(A)

INTRODUCTORY PART

THIS DEED OF SUB-LEASE made this ............. day of .................., 2014,

BETWEEN CHIEF TONYE OKIKI of 2, Abudu Smith Street, Victoria island, Lagos,
Nigeria (sub-lessor) of the one part; AND INTERNATIONAL CONTRACTORS
(NIGERIA) LIMITED, a company incorporated under the Companies & Allied
Matters Act, Cap C20, LFN 2004, and having its registered office at 45, Elima Street,
Ikeja, Lagos, Nigeria (sub-lessee) of the other part.
(B)

OPERATIVE PART

THIS DEED WITHNESSES as follows --In consideration of the rent and covenants reserved in this sub-lease, the Sub-lessor
as BENEFICIAL OWNER DEMISES to the sub-lessee ALL THAT two-storey house
together with Stewards Quarters and garage, located at 57, Agu Street, PortHarcourt, Rivers State, and covered by Certificate of Occupancy Number 87394
dated 09/09/2001 and registered as 90/90/2001C in the Lands Registry, Port
Harcourt, Rivers State (the demised premises) TO HOLD UNTO the sub-lessee for a
term of ten (10) years, commencing on August 01, 2014 and ending on July 31,
2024, PAYING annually in advance the sum of N10,000,000.00 (Ten Million Naira)
only, clear of all deductions; a sum of N20,000,000.00 (Twenty Million Naira) only
covering the first two years having been paid by the sub-lessee to the sub-lessor
(the receipt of which the sub-lessor acknowledges).
(C)

MISCELLANEOUS PART

THE SUB-LESSEE COVENANTS as follows --1) To use the demised premised for lawful commercial purposes only (USER
COVENANT).
2) Not to assign, sublet, charge or otherwise part with possession of the
demised premises or any part of it without the prior written consent of
the sub-lessor, consent not be unreasonably withheld or delayed in the

case of a responsible and respectable person. (COVENANT AGAINST

ASSIGNMENT)
3) To pay all rates, taxes, and outgoings in respect of the demised premises,
payable now or as may be imposed subsequently, whether payable by the
owner or by the occupier. (COVENANT TO PAY RATES &
OUTGOINGS).
4) The rent reserved in this sub-lease shall be reviewed at end of the first
two years of this sub-lease, and subsequently at the end of every two
years during the subsistence of the sub-lease. The parties to this sublease may agree on the revised rent before the review date: Provided that
if agreement has not been reached by the review date, the rent shall be
determined by an independent qualified Estate Valuer, who shall be
appointed by agreement of both parties, and in default of agreement, by
the President of the Institute of Estate Valuers at the request of the first of
them to apply to him, at the joint expense of the parties, and who shall do
so as an Arbitrator under the Arbitration and Conciliation Act, LFN, 2004
(RENT REVIEW CLAUSE)
5) The sub-lessor shall on the written request of the sub-lessee made not
later than THREE MONTHS before the expiration of the current term,
provided the sub-lessee shall have reasonably performed and observed all
his covenants and the provisions of this sub-lease, grant to the sub-lessee
a lease of the demised premises for another term of five years from the
expiration of the current sublease, on the same terms and conditions as in
this present sublease, with the exception of the Rent Clause and this
Option to Renew clause. (OPTION TO RENEW CLAUSE).
6) To keep the Demised Premises in a decent and good tenantable condition
on and repair, reasonable wear and tear accepted, and at least one month
before the expiration or termination of this tenancy, to carry out repairs
and renovations on the Demised Premises and to put the
same in the
same condition as it were at the commencement of the sub-lease,
reasonable wear and tear excepted; Provided that the sub-lessor shall
keep the main structure (including the walls and roof) in good and
tenantable condition and repair as enables the Demised Premises to be
used for the purpose or purposes as are contained in this sub-lease;
(COVENANT TO REPAIR).
7) Not to make or permit to be made any alterations in or additions to the
Demised Premises or any part of it without the prior written consent of the
sub-lessor (COVENANT AGAINST ALTERATION)
8) To keep the Demised Premises insured at all times throughout the
subsistence of the tenancy in the joint names of the Landlord and the

Tenant against the risk of fire, lightning, explosion, riot, civil disturbances
or commotions, earthquake, storm, tempest, flood, and other risks and
usual perils normally insured under a comprehensive policy on property of
the same nature as the Demised Premises, with a reputable insurance
Company to be approved by the Landlord, which approval shall not be
unreasonably withheld, for a sum equal to the full cost of complete
reinstatement and to make all payments of premium and other payments
necessary to effect and maintain the policy or policies as and when due;
and to produce to the Landlord on demand the policy and the receipt for
each payment and to apply all money received by virtue of the policy to
be immediately laid out in rebuilding and reinstating the Demised
Premises or any part of it in respect of which such money shall have
become payable. (INSURANCE COVENANT)
9) ETC
THE SUB-LESSOR COVENNTS as follows
1) ......
2) ......
3) Etc
(D)

CONCLUDING PART

IN WITNESS OF WHICH the parties have executed this Deed in the manner below the
day and year fist above written (TESTIMONIUM)
SIGNED, SEALED, & DELIVERED
by the within-named Sub-Lessor
________________
CHIEF TONYE OKIKI
(EXECUTION CLAUSE, BY
A NATURAL PERSON)
IN THE PRESENCE OF:
NAME: ......................................
ADDRESS: ......................................
OCCUPATION: ............................
SIGN: .............................. (ATTESTATION CLAUSE)

THE COMMON SEAL OF INTERNATIONAL CONTRACTORS (NIGERIA) LIMITED

(SUB-LESSEE) WAS AFFIXED TO THIS DEED AND THE DEED WAS DELIVERED
IN THE PRESENCE OF:

--------------------------------DIRECTOR
SECRETARY
(EXECUTION
CLAUSE, BY
A CORPORATE PERSON)
PREAPARED BY:
..
Bili Oke Esq,
BILI OKE & CO.,
Legal Practitioners,
23, Asmau Stree,
Ikeja, Lagos
08027666643,
yudabet@yahoo.com (FRANKING)

(ENDORSEMENT FOR GOVERNOR`S CONSENT)

I hereby consent to the transaction contained in this Deed
This day of . 2014

___________________
ATTORNEY-GENERAL, RIVERS STATE
FOR: EXECUTIVE GOVERNOR, RIVERS STATE

DEED OF SUB-LEASE
(without consideration & receipt clauses)
(E)

INTRODUCTORY PART

THIS DEED OF SUB-LEASE made this ............. day of .................., 2014,

BETWEEN CHIEF TONYE OKIKI of 2, Abudu Smith Street, Victoria island, Lagos,
Nigeria (sub-lessor) of the one part; AND INTERNATIONAL CONTRACTORS
(NIGERIA) LIMITED, a company incorporated under the Companies & Allied
Matters Act, Cap C20, LFN 2004, and having its registered office at 45, Elima Street,
Ikeja, Lagos, Nigeria (sub-lessee) of the other part.
(F)

OPERATIVE PART

THIS DEED WITHNESSES as follows --In consideration of the rent and covenants reserved in this sub-lease, the Sub-lessor
as BENEFICIAL OWNER DEMISES to the sub-lessee ALL THAT two-storey house
together with Stewards Quarters and garage, located at 57, Agu Street, PortHarcourt, Rivers State, and covered by Certificate of Occupancy Number 87394
dated 09/09/2001 and registered as 90/90/2001C in the Lands Registry, Port
Harcourt, Rivers State (the demised premises) TO HOLD UNTO the sub-lessee for a
term of ten (10) years, commencing on August 01, 2014 and ending on July 31,
2024, PAYING annually in advance the sum of N10,000,000.00 (Ten Million Naira)
only, clear of all deductions.
(G)

MISCELLANEOUS PART

THE SUB-LESSEE COVENANTS as follows --1. To use the demised premised for lawful commercial purposes only (USER
COVENANT).
2. Not to assign, sublet, charge or otherwise part with possession of the
demised premises or any part of it without the prior written consent of
the sub-lessor, consent not be unreasonably withheld or delayed in the
case of a responsible and respectable person. (COVENANT AGAINST
ASSIGNMENT)
3. To pay all rates, taxes, and outgoings in respect of the demised premises,
payable now or as may be imposed subsequently, whether payable by the
owner or by the occupier. (COVENANT TO PAY RATES &
OUTGOINGS).

4. The rent reserved in this sub-lease shall be reviewed at end of the first
two years of this sub-lease, and subsequently at the end of every two
years during the subsistence of the sub-lease. The parties to this sublease may agree on the revised rent before the review date: Provided that
if agreement has not been reached by the review date, the rent shall be
determined by an independent qualified Estate Valuer, who shall be
appointed by agreement of both parties, and in default of agreement, by
the President of the Institute of Estate Valuers at the request of the first of
them to apply to him, at the joint expense of the parties, and who shall do
so as an Arbitrator under the Arbitration and Conciliation Act, LFN, 2004
(RENT REVIEW CLAUSE)
5. The sub-lessor shall on the written request of the sub-lessee made not
later than THREE MONTHS before the expiration of the current term,
provided the sub-lessee shall have reasonably performed and observed all
his covenants and the provisions of this sub-lease, grant to the sub-lessee
a lease of the demised premises for another term of five years from the
expiration of the current sublease, on the same terms and conditions as in
this present sublease, with the exception of the Rent Clause and this
Option to Renew clause. (OPTION TO RENEW CLAUSE).
6. To keep the Demised Premises in a decent and good tenantable condition
on and repair, reasonable wear and tear excepted, and at least one month
before the expiration or termination of this tenancy, to carry out repairs
and renovations on the Demised Premises and to put the
same in the
same condition as it were at the commencement of the sub-lease,
reasonable wear and tear excepted; Provided that the sub-lessor shall
keep the main structure (including the walls and roof) in good and
tenantable condition and repair as enables the Demised Premises to be
used for the purpose or purposes as are contained in this sub-lease;
(COVENANT TO REPAIR).
7. Not to make or permit to be made any alterations in or additions to the
Demised Premises or any part of it without the prior written consent of the
sub-lessor (COVENANT AGAINST ALTERATION)
8. To keep the Demised Premises insured at all times throughout the
subsistence of the tenancy in the joint names of the Landlord and the
Tenant against the risk of fire, lightning, explosion, riot, civil disturbances
or commotions, earthquake, storm, tempest, flood, and other risks and
usual perils normally insured under a comprehensive policy on property of
the same nature as the Demised Premises, with a reputable insurance
Company to be approved by the Landlord, which approval shall not be
unreasonably withheld, for a sum equal to the full cost of complete
reinstatement and to make all payments of premium and other payments
necessary to effect and maintain the policy or policies as and when due;
and to produce to the Landlord on demand the policy and the receipt for
each payment and to apply all money received by virtue of the policy to

be immediately laid out in rebuilding and reinstating the Demised

Premises or any part of it in respect of which such money shall have
become payable. (INSURANCE COVENANT)
9. ETC
THE SUB-LESSOR COVENNTS as follows
(1) ......
(2) ......
(3) Etc
(D)

CONCLUDING PART

IN WITNESS OF WHICH the parties have executed this Deed in the manner below the
day and year fist above written (TESTIMONIUM)
SIGNED, SEALED, & DELIVERED
by the within-named Sub-Lessor
________________
CHIEF TONYE OKIKI
(EXECUTION CLAUSE, BY
A NATURAL PERSON)
IN THE PRESENCE OF:
NAME: ......................................
ADDRESS: ......................................
OCCUPATION: ............................
SIGN: .............................. (ATTESTATION CLAUSE)
THE COMMON SEAL ON INTERNATIONAL CONTRACTORS (NIGERIA) LIMITED
(SUB-LESSEE) WAS AFFIXED TO THIS DEED AND THE DEED WAS DELIVERED
IN THE PRESENCE OF:

--------------------------------DIRECTOR
SECRETARY

(EXECUTION
CLAUSE, BY
A CORPORATE PERSON)
PREAPARED BY:
..
Bili Oke Esq,
BILI OKE & CO.,
Legal Practitioners,
23, Asmau Stree,
Ikeja, Lagos
08027666643,
yudabet@yahoo.com (FRANKING)

(ENDORSEMENT FOR GOVERNOR`S CONSENT)

I hereby consent to the transaction contained in this Deed
This day of . 2014

___________________
ATTORNEY-GENERAL, RIVERS STATE
FOR: EXECUTIVE GOVERNOR, RIVERS STATE

DEED OF LEGAL MORTGAGE

(CHARGE BY DEED EXPRESSED TO BE BY WAY OF LEGAL MORTGAGE IN
LAGOS)

THIS CHARGE BY DEED EXPRESSED TO BE BY WAY OF LEGAL MORTGAGE is

made this day of .2014 BETWEEN CHIEF TONYE OKIKI of 2, Abudu Smith
Street, Victoria Island, Lagos State (Chargor/Mortgagor) of the first part; AND

HERITAGE BANK PLC, a limited liability Company registered under the Companies
and Allied Matters Act, Cap C20 LFN, 2004 with its registered office at 56, Marina
Street, Victoria Island, Lagos (chargee/mortgagee) of the second part
WHEREAS:
a. The chargor/mortgagor is the owner of the two-storey house together with
Stewards Quarters and garage, located at 2, Abudu Smith Street, Victoria
Island, Lagos, covered by Title Certificate No: L05166 of 1963 and by the
Certificate of Statutory Right of Occupancy No: 87345, dated 19/09/2001 and
registered as 99/99/2001H in the Lands Registry, Alausa, Ikeja, Lagos State
(hereiafter referred to as the mortgage property)
b. By a loan agreement dated 12 March 2014, the chargee/Mortgagee agreed
with the chargor/mortgagor to lend to the chargor/mortgagor, and the
mortgagor has agreed to borrow from the chargee/mortgagee the sum of fifty
million Naira (N50 million) (the mortgage sum), subject to terms and
conditions contained in this Deed.
c. The chargor/mortgagor has agreed to provide the mortgage property as
security/collateral for the repayment of the mortgage sum and interest,
subject to the terms contained in this of this Deed
NOW THIS DEED WITNESSES as follows:
1. In consideration of the sum of N50, 000,000 (fifty million Naira) only lent to
the mortgagor by the mortgagee (the receipt of which the mortgagor
acknowledges), the Chargor/mortgagor as beneficial owner CHARGES in
favour of the Chargee/Mortgagee ALL THAT two-storey house together with
Stewards Quarters and garage, located at 2, Abudu Smith Street, Victoria
Island, Lagos, covered by Title Certificate No: L05166 of 1963 and by the
Certificate of Statutory Right of Occupancy No: 87345, dated 19/09/2001 and
registered as 99/99/2001H in the Lands Registry, Alausa, Ikeja, Lagos State
(hereiafter referred to as the mortgage property), subject to the proviso
on redemption contained in this Deed
2. The Chargor/Mortgagor covenants with the Chargee/Mortgagee to pay on the
day of . 20.. the mortgage sum together with interest at the
rate of 12% per annum payable monthly or at such rate not being more than
8% above the Central Bank minimum rediscount rate as may be stipulated
from time to time.
PROVIDED ALWAYS THAT if the Chargor/Mortgagor shall repay to the
Chargee/mortgagee the mortgage sum, interest, and any other monies payable
under this Deed, the term hereby created shall cease and become merged with
the Chargor/mortgagor`s reversion, and the Chargee/mortgagee shall at the cost
of the Chargor/mortgagor execute and do all such deeds, acts and things as may
be necessary for releasing the property to the Chargor/Mortgagor

1. THE CHARGOR/MORTGAGOR COVENANTS AS FOLLOWS:

(1)..
(2)..
(3)ETC
IN WITNESS OF WHICH the parties have executed this Deed in the manner
below the day and year first above written
SIGNED SEALED AND DELIVERED by the Chargor/Mortgagor

.
CHIEF TONYE OKIKI
IN THE PRESENCE OF:
Name:
Address:
Occupation:
Signature:
THE COMMON SEAL of HERITAGE BANK PLC (CHARGEE/MORTGAGEE) was affixed to
this Deed and the Deed was duly delivered in the presence of:

.
DIRECTOR

SECRETARY

PREPARED BY:
..
Bili Oke Esq,
Bili Oke & Co.,
Legal Practitioners,
12, Asmau Street,
Ikeja, Lagos State

I HEREBY CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED

DATED THIS .. DAY OF .. 2014

-------------------------------------------------------HON ATTORNEY-GENERAL. LAGOS STATE

FOR: EXECUTIVE GOVERNOR, LAGOS STATE

DEED OF LEGAL MORTGAGE

(BY ASSIGNMENT)
THIS DEED OF LEGAL MORTGAGE BY ASSIGNMENT is made this day of
.2014 BETWEEN CHIEF TONYE OKIKI of 2, Abudu Smith Street, Victoria
Island, Lagos State (Mortgagor) of the first part; AND HERITAGE BANK PLC, a
limited liability Company registered under the Companies and Allied Matters Act,
Cap C20 LFN, 2004 with its registered office at 56, Marina Street, Victoria Island,
Lagos (Mortgagee) of the second part
WHEREAS:
1. The Mortgagor is the owner of the two-storey house together with Stewards
Quarters and garage, located at 2, Okigwe Road, Owerri, Imo State, covered
by the Certificate of Statutory Right of Occupancy No: 87345, dated
19/09/2001 and registered as 99/99/2001H in the Lands Registry, Owerri, Imo
State (hereinafter referred to as the mortgage property)
2. By a loan agreement dated 12 March 2014, the Mortgagee has agreed with
the mortgagor to lend to the mortgagor, and the mortgagor has agreed to
borrow from the mortgagee the sum of N50 million (fifty million Naira)
(hereinafter called the mortgage sum), subject to terms and conditions
contained in this Deed.
3. The mortgagor has agreed to provide the mortgage property as
security/collateral for the repayment of the mortgage sum and interest,
subject to the terms of this Deed
NOW THIS DEED WITNESSES as follows:
1) In consideration of the sum of N50, 000,000 (fifty million Naira) only lent to
the mortgagor by the mortgagee (the receipt of which the mortgagor
acknowledges), the mortgagor as beneficial owner ASSIGNS to the mortgagee
ALL THAT the two-storey house together with Stewards Quarters and garage,
located at 2, Okigwe Road, Owerri, Imo State, covered by the Certificate of
Statutory Right of Occupancy No: 87345, dated 19/09/2001 and registered as
99/99/2001H in the Lands Registry, Owerri, Imo State (hereinafter referred to
as the mortgage property), TO HOLD UNTO the Mortgagee for the term
unexpired on the said Certificate of Statutory Right of Occupancy subject to
the proviso on redemption contained in this Deed.

2) The Mortgagor covenants with the Mortgagee to pay on the day of .

20.. the mortgage sum together with interest at the rate of 12% per
annum payable monthly or at such rate not being more than 8% above the
Central Bank minimum rediscount rate as may be stipulated from time to
time.
PROVIDED ALWAYS THAT if the Mortgagor shall repay to the mortgagee the
mortgage sum, interest, and any other monies payable under this Deed, the
term hereby created shall cease and become merged with the mortgagor`s
reversion, and the mortgagee shall at the cost of the mortgagor execute and
do all such deeds, acts and things as may be necessary for releasing the
property to the mortgagor
3) THE CHARGOR/MORTGAGOR COVENANTS AS FOLLOWS:
(1)..
(2)..
(3)ETC
IN WITNESS OF WHICH the parties have executed this Deed in the manner
below the day and year first above written
SIGNED SEALED AND DELIVERED by the Mortgagor :

.
CHIEF TONYE OKIKI
IN THE PRESENCE OF:
Name:
Address:
Occupation:
Signature:

THE COMMON SEAL of HERITAGE BANK PLC (MORTGAGEE) was affixed to this Deed and the
Deed was duly delivered in the presence of:

.
DIRECTOR

SECRETARY

PREPARED BY:
..
Bili Oke Esq,
Bili Oke & Co.,
Legal Practitioners,
12, Asmau Street,
Ikeja, Lagos State
I HEREBY CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED
DATED THIS .. DAY OF .. 2014

-------------------------------------------------------HON ATTORNEY-GENERAL, IMO STATE

FOR: EXECUTIVE GOVERNOR, IMO STATE

DEED OF LEGAL MORTGAGE

(BY SUB-DEMISE)
(WHERE THERE IS A SURETY/GUARANTOR)
THIS DEED OF LEGAL MORTGAGE BY SUB-DEMISE is made this day of
.2014 BETWEEN CHIEF NONSO SERIKI of 16, Markurdi Close, Ilorin, Kwara
State (Mortgagor) of the first part; AND HERITAGE BANK PLC, a limited liability
Company registered under the Companies and Allied Matters Act, Cap C20 LFN,
2004 with its registered office at 56, Marina Street, Victoria Island, Lagos
(Mortgagee) of the second part; AND CHIEF TONYE OKIKI of 2, Abudu Smith
Street, Victoria Island, Lagos (Surety) of the third part.
WHEREAS:
(1)The Surety is the owner of the two-storey house together with Stewards
Quarters and garage, located at 2, Abudu Smith Street, Victoria Island, Lagos
State, covered by the Certificate of Statutory Right of Occupancy No: 87345,
dated 19/09/2001 and registered as 99/99/2001H in the Lands Registry, Ikeja,
Lagos State (hereinafter referred to as the mortgage property)
(2)By a loan agreement dated 12 March 2014, the Mortgagee agreed with the
mortgagor to lend to the mortgagor, and the mortgagor has agreed to borrow

from the mortgagee the sum of fifty million Naira (N50 million) (the mortgage
sum), subject to terms and conditions contained in this Deed.
(3)The surety has agreed to provide the mortgage property as security/collateral
for the repayment of the mortgage sum and interest, subject to the terms of
this Deed
NOW THIS DEED WITNESSES as follows:
1. In consideration of the sum of N50, 000,000 (fifty million Naira) only lent to
the mortgagor by the mortgagee (the receipt of which the mortgagor
acknowledges), the surety as beneficial owner SUB-DEMISES to the
mortgagee ALL THAT the two-storey house together with Stewards Quarters
and garage, located at 2, Abudu Smith Street, Victoria Island, Lagos State,
covered by the Certificate of Statutory Right of Occupancy No: 87345, dated
19/09/2001 and registered as 99/99/2001H in the Lands Registry, Ikeja, Lagos
State (hereinafter referred to as the mortgage property), TO HOLD UNTO
the Mortgagee for a term of 90 years certain, commencing on April 01, 2014,
subject to the proviso on redemption contained in this Deed.
2. The Mortgagor covenants with the Mortgagee to pay on the day of .
20.. the mortgage sum together with interest at the rate of 12% per
annum payable monthly or at such rate not being more than 8% above the
Central Bank minimum rediscount rate as may be stipulated from time to
time.
PROVIDED ALWAYS THAT if the Mortgagor shall repay to the mortgagee the
mortgage sum, interest, and any other monies payable under this Deed, the
term hereby created shall cease and become merged with the Surety`s
reversion, and the mortgagee shall at the cost of the mortgagor execute and
do all such deeds, acts and things as may be necessary for releasing the
property to the Surety.
3. THE MORTGAGOR COVENANTS AS FOLLOWS:
(1)..
(2)ETC
IN WITNESS OF WHICH the parties have executed this Deed in the manner
below the day and year first above written
SIGNED SEALED AND DELIVERED by the MORTGAGOR:
.
CHIEF NONSO
SERIKI
The contents of this Deed having been read over and interpreted to the mortgagor in the Igbo Language
by me ...............(name of interpreter)........ of ...........................(address of interpreter)....................., and
he appeared perfectly to have understood the same before he affixed his signature/mark/thumb-print
BEFORE ME

____________________________________
MAGISTRATE/JUDGE/NOTARY PUBLIC
THE COMMON SEAL of HERITAGE BANK PLC (the MORTGAGEE) was affixed to this
Deed and the Deed was duly delivered in the presence of:
.
DIRECTOR

SECRETARY

SIGNED SEALED AND DELIVERED by the SURETY:

.
CHIEF TONYE
OKIKI
IN THE PRESENCE OF:
Name:
Address:
Occupation:
Signature:
PREPARED BY:
..
Bili oke Esq.,
Bili Oke & Co.,
Legal Practitioners,
12, Asmau Street,
Ikeja, Lagos State
I HEREBY CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED
DATED THIS .. DAY OF .. 2014

-------------------------------------------------------HON ATTORNEY-GENERAL, IMO STATE

FOR: EXECUTIVE GOVERNOR, IMO STATE

DEED OF LEGAL MORTGAGE

(BY SUB-DEMISE)
(WITHOUT SURETY/GUARANTOR)

THIS DEED OF LEGAL MORTGAGE BY SUB-DEMISE is made this day of

.2014 BETWEEN CHIEF TONYE OKIKI of 2, Abudu Smith Street, Victoria
Island, Lagos (Mortgagor) of the first part; AND HERITAGE BANK PLC, a limited
liability Company registered under the Companies and Allied Matters Act, Cap C20
LFN, 2004 with its registered office at 56, Marina Street, Victoria Island, Lagos
(Mortgagee) of the second part.
WHEREAS:
1. The Mortgagor is the owner of the two-storey house together with Stewards
Quarters and garage, located at 2, Abudu Smith Street, Victoria Island, Lagos
State, covered by the Certificate of Statutory Right of Occupancy No: 87345,
dated 19/09/2001 and registered as 99/99/2001H in the Lands Registry, Ikeja,
Lagos State (hereinafter referred to as the mortgage property)
2. By a loan agreement dated 12 March 2014, the Mortgagee has agreed with
the mortgagor to lend to the mortgagor, and the mortgagor has agreed to
borrow from the mortgagee the sum of fifty million Naira (N50 million) (the
mortgage sum), subject to terms and conditions contained in this Deed.
3. The Mortgagor has agreed to provide the mortgage property as
security/collateral for the repayment of the mortgage sum and interest,
subject to the terms of this Deed
NOW THIS DEED WITNESSES as follows:
1) In consideration of the sum of N50, 000,000 (fifty million Naira) only lent to
the mortgagor by the mortgagee (the receipt of which the mortgagor
acknowledges), the Mortgagor as beneficial owner SUB-DEMISES to the
mortgagee ALL THAT the two-storey house together with Stewards Quarters
and garage, located at 2, Abudu Smith Street, Victoria Island, Lagos State,
covered by the Certificate of Statutory Right of Occupancy No: 87345, dated
19/09/2001 and registered as 99/99/2001H in the Lands Registry, Ikeja, Lagos
State (hereinafter referred to as the mortgage property), TO HOLD UNTO
the Mortgagee for a term of 90 years certain, commencing on April 01, 2014,
subject to the proviso on redemption contained in this Deed.
2) The Mortgagor covenants with the Mortgagee to pay on the day of .
20.. the mortgage sum together with interest at the rate of 12% per
annum payable monthly or at such rate not being more than 8% above the
Central Bank minimum rediscount rate as may be stipulated from time to
time.
PROVIDED ALWAYS THAT if the Mortgagor shall repay to the mortgagee the
mortgage sum, interest, and any other monies payable under this Deed, the
term hereby created shall cease and become merged with the mortgagor`s
reversion, and the mortgagee shall at the cost of the mortgagor execute and

do all such deeds, acts and things as may be necessary for releasing the
property to the mortgagor
3) THE MORTGAGOR COVENANTS AS FOLLOWS:
(1)..
(2) ..
(3)ETC

IN WITNESS OF WHICH the parties have executed this Deed in the manner
below the day and year first above written
SIGNED SEALED AND DELIVERED by the MORTGAGOR:
.
CHIEF TONYE
OKIKI
IN THE PRESENCE OF:
Name:
Address:
Occupation:
Signature:
THE COMMON SEAL of HERITAGE BANK PLC (MORTGAGEE) was affixed to this Deed
and the Deed was duly delivered in the presence of:
.
DIRECTOR

SECRETARY

PREPARED BY:
.
Bili oke Esq.,
Bili Oke & Co.,
Legal Practitioners,
12, Asmau Street,
Ikeja, Lagos State
I HEREBY CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED
DATED THIS .. DAY OF .. 2014

-------------------------------------------------------HON ATTORNEY-GENERAL, IMO STATE

FOR: EXECUTIVE GOVERNOR, IMO STATE

SEARCH REPORT

(IN A MORTGAGE TRANSACTION)

BILI OKE & CO
LEGAL PRACTITIONERS
12, ASMAU STREET, IKEJA, LAGOS STATE, NIGERIA
08027666643, yudabet@yahoo.com
Date: 18 June 2014
SENATOR BOGUS YELLOWE,
15, Wale Cole Close,
Banana Island,
Ikoyi, Lagos
Dear Sir,
SEARCH REPORT ON PROPERTY LOCATED AT 2, ABUDU SMITH STREET,
VICTORIA ISLAND, LAGOS
Kindly refer to your letter dated 24 May 2014, ref no: SBY/2345/2014 on the above heading and
find below our report of the search:
1. Date of Search:

10 June 2014

2. Places of Search:

Land Registry, Alausa, Ikeja, Lagos State;

3. Name of Borrower:
Kwara State.

Chief Nonso Seriki of 16, Markurdi Close, Ilorin,

4. Name of Owner of property:

Chief Tonye Okiki of 2, Abudu Smith Street,

Victoria Island, Lagos

5. Nature of Interest:

Statutory right of occupancy

6. Description of the Property:

and

The two-storey house together with Stewards Quarters

garage, located at 2, Abudu Smith Street, Victoria

island,
Lagos, covered by Title Certificate No: L05166 of 1963
and
by the Certificate of Statutory Right of Occupancy No:
87345, dated 19/09/2001 and registered as 99/99/2001H
in the
Lands Registry, Alausa, Ikeja, Lagos State
7. Encumbrances:
8. Comment/Advice:
Thanks, sir, for your cooperation.
Yours faithfully,

Nil
Title is sound. Property is not encumbered.
Mortgagee may continue with the transaction.