BETWEEN

NAME HERE.OWNER

of Ndiova Echialike, Ikwo L. G. A.

Ebonyi State.

AND

NAME HERE....HIRER

of Azuiyiokwu Inyimagu,

Abakaliki, L. G. A.

Ebonyi State.

IN RE:

CARTER MOTORCYCLE WITH REGISTRATION NUMBER KGE822 VALUED AT TWO HUNDRED AND
TEN THOUSAND NAIRA (N210,000.00)

HIRE PURCHASE AGREEMENT made this . day of 2014

BETWEEN

NAME HERE of Ndiova Echialike, Ikwo L. G. A. Ebonyi State.

Nigeria (herein referred to as the OWNER) of the one part.

AND

NAME HERE of Azuiyiokwu Inyimagu, Abakaliki, L. G. A.

Ebonyi State.

State of Nigeria (herein referred to as the HIRER) of the other part.

WHEREAS:

1. The subject matter of this Hire purchase agreement is TRICYCLE with Registration No.
Ebonyi AKL 336 QD valued at 750,000.00 (Seven Hundred and Fifty Thousand naira).

2. The OWNER is in true and lawful possession of the said TRICYCLE with Registration No.
Ebonyi AKL 336 QD free from any and or all encumbrance or adverse claim from a third party.

3. The vehicle hereinafter called the PROPERTY being the property of the OWNER has the
following particulars:

(i) Registration No:-------------------------------------

(ii) Engine No:-------------------------------------------

TRICYCLE

(iii) Chassis No:------------------------------------------

(iv) Vehicle make:---------------------------------------

(v) Vehicle model/colour:------------------------------

4. The HIRER has approached the OWNER for the purpose of purchase of the above
namedTRICYCLE under Hire-purchase agreement.
5. The OWNER has consented to so sale under the terms and conditions contained here-in-
under.

NOW THIS AGREEMENT WITNESS AS FOLLOWS:

1. That the hire purchase sum for the aforesaid tricycle is N750,000.000 (Seven Hundred
and fifty thousand Naira)

2. That the install-mental payment is weekly and at the rate of N10,000.00 (Ten thousand
Naira) every Sunday.

3. That ownership in the Tricycle shall remain with the Owner and can only be transferred to
the Hirer on discharge of the hire purchase sum.

4. That the Owner shall recover the said tricycle from the Hirer in default of non payment for
a particular week except on grounds of repair by the Hirer.

5. That Owner must be informed within a reasonable time of such repair and site of repair.

6. That where the Owner recovers as in paragraph four above, the hirer forfeits all he has
paid prior to the recovery.

7. That where the Hirer sales, cause to be sold and or through negligent act cause
theOwner to loose his ownership of the tricycle, he or his surety shall be held liable for payment

8. That all the clauses contained in this agreement shall be binding on the parties and
represents the true intent of the parties.

IN WITNESS WHEREOF, the parties have set their hands and sign the day and year first above
written.
SIGNED, SEALED AND DELIVERED

BY THE WITHIN NAMED OWNER

NAME HERE

In the Presence of:

1. Name:..

Address:..

Occupation:

Signature:.

SIGNED, SEALED AND DELIVERED

BY THE WITHIN NAMED HIRER

NAME HERE

In the Presence of:

1. Name:..

Address:..

Occupation:

Signature:.