DEED OF ASSIGNMENT

DEED OF ASSIGNMENT

THIS DEED OF ASSIGNMENT is made this ___ day of_____2020

BETWEEN

MR ADE MUSA of No. 1, xxxxxxxx, Lagos state (hereinafter referred to as the "ASSIGNOR"), which expression where the contexts so permit shall include his heirs, privies, successors-in-title, personal representatives, agents, assigns or anyone acting for or on his behalf, of the one part

AND

ABC NIGERIA LIMITED, a company incorporated under Part A of the Companies and Allied Matters Act with its head office located at N0. 2, xxxxxxxx, Lagos (hereinafter called the "ASSIGNEE") which expression where the contexts so permit shall include his heirs, privies, successors-in-title, personal representatives, agents, assigns or anyone acting for or on his behalf, s of the other part.

WHEREAS,

1. By virtue of a RIGHT OF OCCUPANCY all that property situate at and described as a piece of land measuring about 4000.6sqm, known and described as Plot 1, xxxxxxx, xxxxxx Local Government Area, Lagos State (Hereinafter referred to as "the Property"). The Assignor, as beneficial owner, is entitled to the Right of Occupancy in and over the Property together with the hereditaments thereon, the full description of which is hereby provided in the SCHEDULE
2. The Assignor as the Beneficial Owner hereby assigns unto ABC NIGERIA LIMITED his entire rights and interests in the said landed property known and described as a piece of land measuring about 4000.6sqm, known and described as Plot 1, xxxxxxx, xxxxxx Local Government Area, Lagos State, for all the residue of the years granted.

NOW THIS DEED WITNESSES AS FOLLOWS:-

• In pursuance of this Deed of Assignment and in consideration of the sum of N50,000,000.00 (Fifty Million Naira) only being 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, ALL THAT PLOT OF LAND MEASURING 4000.6 SQM AND LYING AND SITUATE AT PLOT 1, XXXXXXX, XXXXXX LOCAL GOVERNMENT AREA, LAGOS STATE and described in the Schedule herein.

TO HOLD the same UNTO, and to THE USE OF THE ASSIGNEE FOR ALL the residue of the unexpired term of years created and subject to the provisions of the Land Use Act, Cap. 202, laws of the Federation of Nigeria, 1990 and subject henceforth to the payment of the rent reserved hereby and performance and observance of the covenants contained therein.