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    Lock Out Agreemet (Exclusivity

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    rogerskwagilwa255
    lock out agremeent

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    © All Rights Reserved
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    Lock Out Agreemet (Exclusivity

    Uploaded by

    rogerskwagilwa255
    3 views2 pages
    lock out agremeent

    Original Title

    LOCK OUT AGREEMET (EXCLUSIVITY

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    © © All Rights Reserved

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    lock out agremeent

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    3 views2 pages

    Lock Out Agreemet (Exclusivity

    Uploaded by

    rogerskwagilwa255
    lock out agremeent

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    LOCK-OUT AGREEMENT

    THIS LOCK-OUT AGREEMENT is entered this …………..day of…………….2012

    Between

    GRAYSON of P.O Box…….Dar es Salaam (hereinafter referred to as “The Seller”)

    And

    MS SIWEMA JABALI of P.O Box……………….Dar es Salaam (hereinafter referred to as


    “The Buyer)

    WHEREAS the Vendor herby agrees to dispose the property to the purchaser by entering
    into this agreement and parties agree to be bound.

    WHEREAS parties wish to enter into this agreement of the disposition of the property
    located at Plot No. 264, Block No. D, Kinondoni Municipality, Dar es Salaam, and the
    Vendor is the lawful owner of the property .

    AND WHEREAS the purchaser is aware of the Fact that the Original Title Deed has been
    deposited to WAKULIMA BANK LTD to secure the amount of Tanzania Shillings
    50,000,000/=, the amount borrowed by the Buyer and the discharge of the property before
    transfer will be as parties agreed in this contract as hereunder;

    TERMS AND CONDITIONS .


    1. That this agreement shall commence on the period of signing of this agreement to the
    time the transfer deed and the sale agreement is signed by both parties.
    2. That the purchaser has deposited Tanzania Shillings 50,000,000/= to WAKULIMA
    Bank Ltd escrow account that shall hold the same as an escrow agent until the transfer
    is completed.
    3. The Seller will not make any sale arrangement with another person rather than a
    Buyer on respect of the plot BLOCK 264, PLOT NO. D,
    4. The buyer will make such enquiries as it consider necessary for the purposes of the
    intended transfer
    5. The Buyer will investigate the house on preliminary stages of purchasing a house
    after satisfaction on quality she wish, parties may enter in sale contract to sale the
    house.
    6. That the buyer will conduct an official search at Land registry and conduct a valuation
    report to update the current market value pending the execution of sale agreement.
    7. The buyer shall arrange for any survey, valuation, environmental, investigation and
    other reports which she requires.
    8. The satisfaction of the Purchaser will be measure to be good if the house is out of free
    of all encumbrances except those to which the interest will remain subject as specified
    in the instrument or as is provided for by the law;
    9. If the buyer discover that the house does not meet her quality as she wish, then the
    Buyer will not proceed to enter in sale contract.
    10. That the seller should disclose all latent defects to the buyer before concluding the
    sale agreement.
    11. The parties further agreed that the contract is in good faith and if either party wants to
    terminate the agreement shall notify the other party and reasons for termination
    thereof.
    12. The parties tie their hands to amicably dispute resolution or mediation dispute
    resolution in case there is any dispute between Seller and Buyer.
    13. This agreement is governed by the laws of the United Republic of Tanzania.
    IN WITNESS WHEREOF the parties hereto have duly executed this Lock-out Agreement on
    the date and year first hereinafter written in the following manner.

    SIGNED and DELIVERED by the said


    GRAYSON LAZARO BUNDARA ____________
    In my presence this ___day of September 2024 Seller
    BEFORE ME
    NAME: ____________________
    SIGNATURE: ______________________
    POSTAL ADDRESS: _____________________
    QUALIFICATION: COMMISSIONER FOR OATHS

    SIGNED and DELIVERED by the said


    MRISHO FRANCIS NDEASHABO _____________
    In my presence this___ day of September 2024. Purchaser
    BEFORE ME
    NAME: ____________________
    SIGNATURE: ______________________
    POSTAL ADDRESS: _____________________
    QUALIFICATION: COMMISSIONER FOR OATHS

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