Crown Crest Investments Limited (hereinafter, the “Vendor”) offers for sale on these terms & conditions (“T&Cs”)) serviced residential plots of land (“Units”) situate, lying and being at along Asubiojo Road, Geleodun Town, Owode, Ogun State (hereinafter referred to as the “Estate”).

1. Priority of documents
1.1. These T&Cs and all other documents (including but not limited to Offer Letter, Allocation Letter, Contract of Sale, Deed of Assignment, Estate Rules & Building Guidelines, Homeowners Agreement etc. (the “Contract Documents”)) shall govern the rights and obligations of the parties and shall be taken as mutually explanatory of each other.
1.2. Notwithstanding any provision to the contrary in any Contract Document, these T&Cs shall have priority over any Contract Document in the interpretation of rights and obligations of the Vendor and the Purchaser in respect of the Units.

2. Development & facilities
The Estate comprises the Units and associated infrastructure including but not limited to paved roads, perimeter fencing, electricity, central entrance gate, and recreational areas.

3. Payment terms
3.1. The Consideration (defined in clause 4.6 below) is payable either in full or in instalments as offered in the Payment Schedule communicated in our Marketing Materials/Subscription Form/Offer Letter.
3.2. A default in the payment of Consideration in full or in instalment in accordance with the following may result in the following:
(a) an upward review in the purchase price (being the aggregate of the actual cost of the Unit and the cost of issuing relevant Contract Documents to the Purchaser) (the “Consideration”) for the Unit; and/or
(b) an interest charge on the outstanding amount at the prevailing rate of Central Bank of Nigeria MPR; and/or
(c) termination of Purchaser’s subscription for the Unit.
3.3. All cheque(s) or bank draft(s) should be issued in favour of the Vendor. Acknowledgement of payments shall be sent by email which shall be deemed delivered and read within 3 hours of the e-mail being sent. Payment by cheques shall only be acknowledged when payments are received in cleared funds by the Vendor.

4. Delivery of units
4.1. The Vendor will be deemed to have delivered the Unit to the Purchaser upon completion of construction of the infrastructure and clearing of the road leading to the said Unit (“Delivery”).
4.2. Subject to the full payment of the Consideration and service charge (payable for the maintenance of the common areas within the Estate for a period of one year commencing after Delivery (“Service Charge Deposit”)) by the Purchaser, the Vendor shall effect Delivery of the Unit within 12 months of receipt of the final instalment of the Consideration or within 12 months of payment of the Consideration in full by the Purchaser or at some other date agreed by the parties (“Delivery Date”). Prior to the Delivery Date, the Purchaser shall not have any right over the Unit notwithstanding anything contrary in any Contract Document.

4.3. If the Vendor considers that it is unable to effect Delivery by the Delivery Date, the Vendor shall no later than 30 days before the Delivery Date, notify the Purchaser in writing of its inability to effect Delivery by the Delivery Date. The notice shall state the reasons for the inability to effect Delivery and also state a date not later than 6 (six) months from the date of the said notice when Delivery will be effected.
4.4. The Vendor shall not be deemed to be in breach of its obligations to the deliver Units if its inability to effect Delivery is as a result of the occurrence of a Force Majeure Event1

5. Documentation
5.1. The Documentation for a sale of Unit shall comprise the following:
(a) A Contract of Sale which shall be issued upon receipt 70% of the Consideration by the Vendor in cleared funds; and
(b) A Deed of Assignment (inclusive of survey plan for the Unit) and a Homeowners’ Agreement which shall be issued upon the Vendor’s receipt of Consideration in full.
5.2. The Purchaser acknowledges receipt of the documents listed above prior to the execution of these T&Cs and undertakes to execute all Contract Document “as is” without any amendment.
5.3. The Purchaser shall be responsible for perfecting its title to the Unit(s) and shall be required to comply with the Estate Rules and Regulations.

6. Description & layout of units
The Purchaser acknowledges that:
(a) the Unit may not be delivered as described in the Marketing Materials provided to the Purchaser;
(b) the Unit will be delivered in accordance with the description and layout provided in the Contract of Sale;
(c) plot sizes may vary and final sizes will be confirmed in the survey plan for the Unit allocated;
(d) where the size of the plot in the survey plan for a Unit is greater than initially communicated to the Purchaser, the Purchaser undertakes to pay for the additional land at a price to be determined by the Vendor; and
(e) requests for alternative allocation will be treated based on the availability of Units.

7. Development of plots
7.1. It is the responsibility of the Purchaser to obtain all regulatory permits from the Lagos State Government prior to any development of the Units. In addition, the development of the Units must be in accordance with Estate Rules & Building Guidelines provided by the Vendor for the Estate. The Purchaser hereby confirms receipt of the Estate Rules & Building Guidelines prior to execution of these T&Cs.
7.2. The Purchaser undertakes that prior to the commencement of construction works on the Unit and the submission of an application to the Lagos State Government for regulatory approvals for the development of the Unit, the Purchaser shall submit the proposed architectural drawings and design for the Unit to the Vendor for approval.

8. Transfer of interest
8.1. Where the Purchaser is yet to fully pay the Consideration, the transfer of the Purchaser’s interest in a Unit shall only be done with the prior written consent of the Vendor.
8.2. If the Purchaser decides to assign its/his/her interest in a Unit to a third-party, the Purchaser shall bear the cost of procuring the documents in clause 5.1 and any other document required to transfer the interest. The applicable cost shall be determined by the Vendor and communicated to the Purchaser at the same time the Vendor delivers to the Purchaser, a formal consent for the transfer of the Purchaser’s interest in the Unit to a third-party.
8.3. The Execution of the Homeowners’ Agreement by the third-party purchaser and delivery of a written confirmation that the third-party purchaser shall comply with the Estate Rules & Building Guidelines shall be a condition precedent to the Vendor consenting to the transfer.

9. Service charge
9.1. The Purchaser shall be required to pay service charges for maintaining the common areas in the Estate.
9.2. The Service Charge Deposit (being an estimate of service charges payable for maintenance of the common areas in the Estate for a period of one year commencing after Delivery of the Unit) shall be paid by the Purchaser along with the Consideration.
9.3. Notwithstanding the foregoing, additional service charges may be imposed by Vendor following Delivery.

10. Common areas
10.1. Common areas within the Estate shall be used jointly by the residents of the Estate.
10.2. Common areas within the Estate shall be held and managed exclusively by the Vendor or its appointed facility manager(s).

11. Cancellation & revocation
11.1. Subject to the provision of these T&Cs, a Purchaser shall be entitled to terminate/cancel his/her/its subscription for a Unit and to a refund of the amount paid towards the purchase of the Unit.
11.2. The Vendor shall be at liberty to revoke the allocation of any Unit to the Purchaser at any time if the Purchaser fails to meet payment obligations or breaches any Contract Document.
11.3. In the event of termination/cancellation by the Purchaser or revocation by the Vendor, the Vendor shall only be liable to make refunds after: (a) the sale of the Unit to third party; and (b) the receipt of the amount (to be refunded) from the third-party purchaser. For the avoidance of doubt, the Vendor shall not be obliged to procure a third-party’s acquisition of the Purchaser’s interest in the Unit.
11.4. Revocation of allocation by the Vendor or termination of subscription by the Purchaser shall attract an administrative fee of 10% (ten percent) of the total amount paid by the Purchaser. Provided that the Vendor shall not have the right to deduct the administrative fee where the Purchaser’s termination is as a result of the Vendor’s breach of this T&Cs.

12. Discharge of vendor’s obligations
Where Delivery has been effected, the Vendor shall upon service of a Handover Notice on the Purchaser be discharged from all responsibilities relating to the Unit. For avoidance of doubt, the Vendor’s responsibility with respect to the maintenance of the Unit shall be discharged once the Unit is available for Delivery.
13. marketing materials
Renditions of the Estate and Units in Marketing Materials are artist renditions and not the final designs or layout of Units.

14. Data policy
14.1. consent to data collection
(a) The Purchaser understand and confirms that for the purposes of the transaction contemplated under the Contract Documents, the Vendor shall collect Personal Data from the Purchaser.
(b) “Personal Data” means any information relating to Purchaser including but not limited to email address(s) name, affiliation, bank accounts, employment details, source of income etc.
(c) By signing these T&Cs, the Purchaser irrevocably consents to the collection and processing of the Purchaser’s Personal Data. The Purchaser further consents to the sharing of Personal Data with the Vendor’s parent company, affiliates, subsidiaries etc.
14.2. data processing
The Vendor undertakes:
(a) That Personal Data shall only be collected for purposes herein specified and for regulatory purposes. Processing of Personal Data for archiving purposes shall not be incompatible with the aforementioned purposes.
(b) To collect only Personal Data relevant to the transaction described in the Contract Documents and process Personal Data for the purpose for which they are collected;
(c) Personal Data shall be processed in a manner that ensures appropriate security of the Personal Data, including protection against unauthorized or unlawful processing.

15. Status of the t&cs
15.1. This T&Cs is deemed incorporated into the Contract of Sale and the Deed of Assignment.
15.2. The T&Cs indicated above are subject to change without notice.
15.3. The execution of these T&Cs does not guarantee the allocation of any Unit to the Purchaser and subscription/sale of Units is subject to availability and prompt payment of Consideration in accordance with the Contract Documents.

I/We confirm that I/we have read and understand the terms of the offer and agree to be bound by the terms.