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	FAQS
OLIVE ESTATE OFADA, MOWE *FREQUENTLY ASKED QUESTIONS*
	*Q1. Where is Olive Estate?*
	*Q2. What are the names of other estate and institutions within 3 KM radii of Olive estate?*
	*Q3. Who is the developer of Olive Estate?*
	Q4. Whatis the price per plot for residential quarters and commercial plots respectively?
	Q5. *What is the size of residential/commercial plot?*
	Q6. *Is there any encumbrance on the land?*
	*Q7. What types of infrastructure will the developer provide?*
	*Q8. What infrastructure will the developer not provide?*
	*Q9. What other payments do I pay apart from the payment for the land?*
	*Q10. The development levy will be used for what?*
	*Q11. When do I pay development levy?*
	*Q12. When will my (plots) be allocated to me?*
	*Q13. What do I get after completion of payments for the land, survey and title document?*
	*Q14. What type of title does Olive Networks Limited have on the land?*
	*Q15. Does Olive Network ltd have certificate of occupancy (C of O)?*
	*Q16. What title would I get eventually?*
	*Q17. What happens if I cannot complete payment or default in the payment of the monthly* *subscription*?
	*Q18. Can I pay a deposit and pay balance anytime within the duration of tenure chosen (i.e. 12* months)?
	*Q19. Does Olive Networks limited charges interest on the balance of payment?*
	*Q20. Can I start construction or building on the land now?*
	*Q21. Is the road to the estate good and motorable even during raining season?*
	*Q22. Is there any restriction as to the type of building I can build?*
	*Q23. Is there any time limit to commence work on my land after allocation?*
	*Q24. Can I re-sell my plot/property?*

	N: B for other issues refer to the inexhaustive list of terms and condition attached to the application form.
	THANK YOU.
	The FAQ page is updated as we get questions that we believe will help our clients.

	*Q1. Where is Olive Estate?*
	A. Olive Estate presently have four locations. The locations are in Lekki FTZ and Ofada via, Mowe, Obafemi Owode Local Government Area, Ogun State.TOP
	*Q2. What are the names of other estate and institutions within 3 KM radii of Olive estate?*
	A. Lekki: Amen Estate, Lekki Free Trade Zone, Eleko Beach, Chevron Estate Ofada: Intercontinental bank training school, Cornerstone Estate (We share the same fence with Cornerstone Estate), Cetep City University, Jubilee Golden Estate, Redemption camp, the Redeemer University, KICC University (proposed), Graceland estate, Trinity Secondary school, U.A.C Co-Op estate e.t.c.TOP
	*Q3. Who is the developer of Olive Estate?*
	A. A consortium managed by Olive Networks Limited.TOP
	*Q4. What is the price per plot for residential quarters and commercial plots respectively?*
	A. Price varies depending on the property. For detail pricing, go to costfinancing on the home page.TOP
	*Q5. What is the size of residential/commercial plot?*
	A. Approximately 648 square meters or 60ft x 120ft or 18meters x 36 meters.TOP
	*Q6.Is there any encumbrance on the land?*
	A. The land is free from every known government acquisition and no adverse claimant.TOP
	*Q7. What types of infrastructure will the developer provide?*
	A. Perimeter fencing, earth road, transformer and connection to the national grid, boreholes randomly sited.TOP
	*Q8.What infrastructure will the developer not provide?*
	A.Electric poles and strings, piped water system, drainage, and tarred/paved road.TOP
	*Q9.What other payments do I pay apart from the payment for the land?*
	A.Survey fee N 40,000.00 Legal Documentation fee N 18,000.00 Development Levy To be determined in December 2007.TOP
	*Q10.The development levy will be used for what?*
	A. Provision of drainage, electric poles and strings for the distribution of energy and piped water system.TOP
	*Q11.When do I pay development levy?*
	A. After allocation of plots.TOP
	*Q12.When will my (plots) be allocated to me?*
	A. In batches after full payment for the land survey fee and legal documentation fee starting June 2008?TOP
	*Q13.What do I get after completion of payments for the land, survey and title document?*
	A. Receipt, letter of allocation, estate covenants, survey plans and deed of assignments.TOP
	*Q14.What type of title does Olive Networks Limited have on the land?*
	A. Lekki: Governors Consent from the Lagos State Government Ofada: CofO from Ogun State Government, Deed of Assignment and Irrevocable power of attorney donated by the customary owners.TOP
	*Q15. Does Olive Network ltd have certificate of occupancy (C of O)?*
	A. Olive Networks limited has been granted the C of O for Ofada Phase 1 60 Acres properties and is in the processes of getting a C of O and an approved lay out plan for the other estates.TOP
	*Q16. What title would I get eventually?*
	A. Deed of sub-leaseTOP
	*Q17.What happens if I cannot complete payment or default in the payment of the monthly* *subscription*?
	A. Subscribers who wish to withdraw their subscription would be expected to provide another subscriber to whom their existing interest would be transferred without altering the repayment plan. Olive Estate does not encourage withdrawals and would not make refunds once subscription is made. .TOP
	*Q18. Can I pay a deposit and pay balance anytime within the duration of tenure chosen (i.e. 12* months)?
	A. After the payment of the initial deposit you are expected to pay the balance monthly. Non payment monthly as at when due will be treated as fundamental breach of contract which can result to termination or revocation of contract.TOP
	*Q19. Does Olive Networks limited charges interest on the balance of payment?*
	A. No. the transaction is interest free but we give incentives to cash transactions by giving rebates.TOP
	*Q20. Can I start construction or building on the land now?*
	A. You can start building on the land immediately after physical allocation and payment of the stipulated development levy.TOP
	*Q21. Is the road to the estate good and motorable even during raining season?*
	A. Yes the road to the estate is okay and motorable during both seasons.TOP
	*Q22. Is there any restriction as to the type of building I can build?*
	A. Yes, you are limited to building residential houses within the area designated as residential and commercial houses on area designated as commercial. Provision of shops in residential houses and building of tenement house type (popularly known as FACE ME I FACE YOU) is not permitted.TOP
	*Q23. Is there any time limit to commence work on my land after allocation?*
	A. 18 months after allocation.TOP
	*Q24. Can I re-sell my plot/property?*
	A. You can re-sell your property at any time but with a transfer fee of 5% of selling price/current value of land.TOP

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