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Terms and Conditions for Greenland Estate
by Greenland Cooperative Multipurpose Society
These terms and conditions ("Terms", "Agreement") is between Greenland Cooperative ("Greenland", "us", "we" or "our"), owners of the existing products and trade names “Greenland, Greenland Estate”, and Purchaser ("User", "you" or "your"). This Agreement sets forth the general terms and conditions that shall regulate both parties to the transaction on the “Greenland” platform.
By using any of our services and Greenland, you agree to abide by these Terms, the privacy policy, and all other operating rules, policies, and procedures that may be published by us from time to time on this platform, each of which is incorporated by reference to these Terms. References in these Terms and Conditions to “You” (or such similar descriptions) are references to you as an individual or legal entity as the case may be.
User Requirement
Please note that the opportunities and services offered on this platform are primarily for individuals who are at least eighteen (18) years old, (as well as individuals who have attained the legal age in the locations where they reside) who must be members of Greenland Cooperative. However, in extenuating circumstances, minors may be allowed, through their legally appointed guardians and trustees, to avail themselves of some of the opportunities that we list on this platform from time to time.
These terms & conditions, therefore, insist that you are an Individual of at least eighteen (18) years old, or have attained the legal age in your jurisdiction and that you are able and competent to enter into a legally binding agreement with us, as it relates to your access to and use of this platform, and that you are a member of Greenland Cooperative. If you are not a member of Greenland Cooperative, continued use means that you agree to be a member of Greenland Cooperative, subscribe to its bylaws and constitution, and agree to pay the required membership due/fee. Consequently, we expect that all registration information that you submit is accurate and truthful.
By this T&Cs, you agree that the terms of this Agreement are binding on anyone on whose behalf you seek to partake and benefit from this platform, be it a company, a minor, or any other legal entity, over which you have the authority to bind to the terms of this Agreement.
You agree to provide such registration details, which will contain information about you, as may be prompted by any registration form on this platform, and to keep such personal details updated at all times.
If you are provided with a user identification code, password, or any other piece of information as part of our security procedures, you hereby agree to treat such information as confidential and not to disclose it to any third party. Furthermore, you hereby agree that once you are granted access to the platform, such access rights are not transferable to any other person.
You hereby agree to comply with all local laws regarding online conduct and acceptable content publishable on this platform. You are responsible for all applicable taxes payable as a result of your activity on this platform.
In a bid to register with us on our online platform, you agree to provide us with your valid means of identification, such as a Driver’s License, International Passport or National ID Card, BVN Number, and any other document as required.
Access to our platform
We provide you with access to our platform upon signing up to be a member of Greenland Cooperative and payment of the required membership due/fee. However, be notified that you may experience a few instances where your access to our platform may be interrupted.
Instances, where your access to our platform may be impeded, include the following:
When you violate any of the provisions of these terms or are found to have provided inaccurate registration data (personal details). In this case, your access to our platform may be suspended, withdrawn, or discontinued;
During routine maintenance, effect an update or an upgrade to the platform in a bid to serve you better. Before such cases, we undertake to give you due notification.
When you cease to be a member of Greenland Cooperative.
Subject to a lawful order of the Court or during Criminal Investigation by a competent authority on allegations bordering on fraud or other capital offences, we may in compliance with the provisions of law, deny you access to our platform.
Limitation of Liability
With all sense of responsibility, and to the full extent permissible by Law, Greenland Cooperative or her Sister Companies (If any), affiliates, agents, and directors, shall not be liable under contract, tort, strict liability, negligence, agency relationship, or any other legal or equitable theory, for any of the following:
Any Liability for any direct, indirect, or consequential loss or damage incurred by You in connection with our platform or connection with the use, inability to use, or results of the use of our platform, any websites linked to it, and any materials or content posted on it, including, without limitation to any liability for loss of data and any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
Any bugs, viruses, trojan horses, or the like (regardless of the source of origination).
You hereby release Greenland Cooperative and hold them and the parent company, subsidiaries, officers, directors, agents, and employees, harmless from any claims, demands, and damages of every kind and nature (including, without limitation to, actual, special, incidental and consequential), known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with your use of the services on our platform. You hereby, waive the provisions of any state or local law limiting or prohibiting a general release.
Without Prejudice to the limitation of liability above, in the event of any problem with the platform or any of the services on the platform, You agree that your sole and exclusive remedy is to cease using the platform. Under no circumstances shall Greenland Cooperative, their subsidiaries, officers, directors, agents, or employees be liable in any way for your use of services, including but not limited to, any errors or omissions on the platform, downtime, any infringement by the platform of the intellectual property rights or other rights of third parties, or for any loss or damage of any kind incurred as a result of the use of the services.
Disclaimer
It is important to note that your subscription to any of our projects and your use of our services are at your discretion, as the services on the platform are provided to You on an “AS IS” and “AS AVAILABLE” basis. Therefore, you agree to evaluate, seek independent advice, and bear all risks associated with the use of this platform. Nothing on the platform should be deemed to constitute a recommendation to purchase, sell, hold, or otherwise to constitute a piece of advice regarding, any investment, secured or otherwise.
In your interest, we may from time to time refer to existing brands or companies for marketing purposes on this site, except we have explicitly stated that the brand or company is affiliated with us or that we have a contractual relationship with them, we expressly disclaim any relationship with any such brand or Company.
Note that we are not a registered broker-dealer, investment advisor or crowdfunding portal and we do not engage in any conduct that would require registration with the Securities and Exchange Commission or the Nigerian Exchange Group Plc.
Third-Party Websites and Links to our Services
We may permit you to link ours to other websites or resources on the internet, and other websites or resources may contain links to our services. Note, however, that when you access third-party websites, you will be leaving the Greenland App/Website but at your own risk as those other websites are not under our control. You also acknowledge that we will not be liable for the content, functions, accuracy, legality, appropriateness, or any other aspect of those other websites or resources.
Intellectual Property Rights
1. Except for the rights expressly granted under these terms and conditions, the intellectual property content included on this platform, including but not limited to text, graphics, logos, images, audio clips, digital downloads, and software, are all properties of the Greenland App/Website, a product of Greenland Cooperative, our licensors and/or certain other third parties, where stated. We or our licensors, as the case may be, retain all the rights, titles, and interests in and to the contents displayed on this platform, including, without limitation to, all intellectual property rights therein.
2. You agree that you have no right to use any of our trademarks without our prior written consent, and the grant of same shall not be exclusive to you.
3. All rights not expressly granted to You in these Terms and Conditions are reserved and retained by us or our licensors.
Indemnification
1. You agree to indemnify, hold harmless, and defend Greenland Cooperative, associated entities subsidiaries, and licensors, and each of their respective officers, owners, directors, shareholders, contractors, agents, employees, general and limited partners, successors, and assigns from and against all demands, claims, damages, liabilities, judgments, fines, interest, penalties, losses, costs, expenses, and harms, including without limitation to reasonable attorney’s fees and fees of other professional advisers, arising out of or in connection with: Your use of the services on our platform. Your online conduct in connection with the services. Your (or anyone acting under your password or username) violation or breach of these terms; Your Failure to comply with any applicable laws or regulations in connection with the services; or any of your dealings or transactions from the use of the services.
2. You shall not settle any such claim without our prior written consent;
3. These obligations will survive any termination of these terms.
4. Parties both agree that the Company shall indemnify the investor against all loss and third-party claims over the said portion of Land he/she invested in at the exact investment price without any addition or interest whatsoever.
General Purpose
1. Greenland Cooperative by its rights under the Cooperative Societies Law of Lagos State 2015, Cap C14 of the Laws of Lagos State, 2015 and its registered bye-laws intends to acquire a large expanse of land to be named ‘Greenland Estate’ and is inviting its members to invest in the project by subscribing to become co-owners.
2. We intend that the acquisition be financed by our members through a per-square-meter option.
3. The investment period is for a period not more or lesser than 18 months subject to the following provisions:
General Provisions
1. You agree by continuing to use the Greenland Platform as a member of Greenland Cooperative to partake in the joint finance of the acquisition of the area of land to be known as Greenland Estate by investing the sum of money to be determined by us per square metre.
2. We both agree that the maturity period for your investment is a period not more or less than 18 months from the date of investment.
3. We both agree that upon the maturity period, you are entitled to a 45% interest rate on your investment as the return on investment (ROI); thereafter, the statutory 5% withholding tax deduction will be made from the interest payable.
4. We both agree that the interest rate is as stated above and shall not be determined or influenced by currency fluctuations, inflation or the Central Bank of Nigeria’s Interest rate.
5. You agree that the investment sum shall remain non-refundable until the maturity date under any circumstances.
6. We both agree that where you invest in an amount representing an equivalent of 300 square meters or 500 square meters, you can exercise the option of converting your investment into land ownership by serving us with a notice within the 9th to 11th month of your investment period; and where you invest an amount representing an equivalent lesser than 300 square meters, and you wish to convert your investment into land ownership, you shall do so by serving us with a notice within the 9th to 11th month of your investment, and we shall communicate the prevailing price of the additional units to you, and you shall pay the prevailing price which may be higher than the earlier investment sum, to exercise that option.
7. Where you choose to exercise the option above, the following principal provisions shall apply to you:
Principal Provisions
1. You agree to pay and discharge all future Government taxes and levies that may be hereafter imposed on the property, observe all terms and conditions herein stipulated in the root of the title, and indemnify Greenland against all claims, actions, demands, costs, expenses it may incur due to your failure to observe and perform such covenants and conditions.
2. You hereby agree to pay the Developmental and Documentation levy and service charges as may be determined on the plot(s) or unit(s) you intend to own.
3. You hereby warrant that the money being transferred or invested for the company’s product is not a proceed of crime/illegality and further absolve Greenland of any future claims, and/or criminal charges by any government parastatal/agency arising from the origin or source of the invested sum.
4. We agree that all payment in respect of the Land, houses, and any of our existing products shall be paid by you directly into Greenland’s designated bank account through the approved means, and not to marketers, realtors, agents, third parties, or staff; and we further agree that any of such payment shall be solely at your own risk.
5. You understand and agree clearly that the payment made does not include or cover charges for the perfection of title to land subsequently in his/her name.
6. Any loss incurred as a result of payment in respect of Land, houses and any of our other existing products to agents, third parties, realtors, marketers, and staff shall be your sole responsibility and liability;
7. Parties hereby agree and understand that the scope of authority of Greenland’s Agents, Staff, Marketers and Realtors, does not include or extend to the point of receiving payment by any mode for themselves or purportedly on behalf of Greenland into an account not belonging to us or in cash, and parties as a result of this that Greenland shall not authorise same.
8. You agree that where the estate subscribed to is oversubscribed, Greenland has the right to allocate another land to you. You further agree that the particular land invested in is no longer available for any reason other than the foregoing before you take possession, we hereby agree that you will accept a replacement plot of land within the estate to which you subscribed. However, where there is no available plot in the estate you subscribed to, you agree that you shall accept a replacement plot of the same value elsewhere or you have the option to request for your invested sum with 45% ROI which shall be processed within 90 days.
9. Parties agree that you shall be given both digital (which can be printed at your will) and physical allocation to Land upon full payment of the purchase price for Land
10.Both parties agree that the date for physical allocation shall be duly communicated to you;
11. Upon full completion of payment for the Land, four (4) copies of the Deed of Assignment and Registered Survey Plan transferring the totality of interest over the said land shall be executed between both parties and issued to you, subject to payment of Legal and Documentation Fees. You also agree that the resale of any land within our estate shall necessitate a 10% change of ownership fee (on purchase price) by the new owner to Greenland, to effect a change in our records to that of the new buyer.
12. If you are desirous of changing the location subscribed for to a different location, the application shall be reviewed and approved on the following grounds:
- i. Availability of Land in your preferred Location
- ii. Made 50% payment over the land originally subscribed for.
- iii. Pay an administrative fee of N30,000.00 to change location;
13. You shall pay a Maintenance fee to the Estate Management Company appointed by Greenland for General maintenance of the plot subscribed. The maintenance fee shall be as prescribed by the estate management team.
14. You shall pay subsequent Service charges to the Estate Management Company to be appointed by Greenland to expedite routine maintenance for all subscribed plots within the estate. This service charge shall apply to all subscribers irrespective of whether they have built their property or just fenced it but shall cover the services rendered to each subscriber, aside from the general services of fumigation, weeding, security, etc;
15. All subscribers desirous of building themselves shall follow the specific prototypes or designs to be provided by the Company for their respective buildings;
16. You also agree that part of the requirement before construction is that you shall submit a building plan for authorisation after which you obtain a job card from the Company before commencing any building activity on the Land;
17. We agree that you can engage our services for constructing any building of your choice and specifications subject to a separate agreement between us, and a contract for that purpose;
18. Where you engage our services for building, it is hereby jointly agreed that we are entitled to adjust such construction prices, to meet up with inflation in the cost of building materials and other incidental factors, and the adjusted price shall be applied and charged on sums yet to be paid by you without recourse to you.
19. That for subscribers desirous of building within specialised use areas within the estate, they shall comply with regulations and the specific prototypes or building designs to be provided by Greenland;
20. That Greenland reserves the exclusive right to monitor construction work by subscribers through her Site Engineer or Company Officials on a routine basis without interruption to ensure compliance and conformity with the building design or prototype handed out to the Purchaser by the Company;
21. That all subscribers must comply with the statutory, safety regulations, town planning and environmental laws while building construction is ongoing within the estate. However, all estate planning regulations will be communicated in the allocation document issued after all necessary financial commitment has been fulfilled.
22. You hereby agree to commence gated fencing up to at least 7 Coaches or build the foundation within three (3) months from the date of the allocation or risk reallocation;
23. You are equally vested with the exclusive responsibility of securing all the requisite building plan approvals from the appropriate constituted authority before embarking on substantial development on the land;
24. You undertake that failure to develop the Land to a minimum of perimeter fencing up to 6 coaches within six (6) months after the allocation of the land automatically terminates the allocation and you are at liberty to take either of the options below;
- i. You shall be given an additional grace period of One (1) month to commence development or lose the Land automatically;
- ii. Refund of the sum paid in respect of the Land with no profit or interest, less a 20% administrative fee.
25. You hereby understand and agree that there will be no refund of any investment sum where you choose to exercise the land ownership option save in extenuating circumstances to be determined by the management of the Company, and the following condition must be fulfilled by the Purchaser to warrant a refund
- i. A request for a refund must be sent via email
- ii. Refund shall attract NO PROFIT OR INTEREST and for the avoidance of doubt, all terminated transactions shall accrue only the investment sum paid for the property, less a 40% administrative fee except in cases of refund stemming from 24(iii) above.
- iii. All refunds shall be processed within a period not less than 90 days from the date of request, but not more than 150 days.
26. You understand clearly that the payment made does not include or cover charges for the perfection of title to land subsequently in his/her name.
27. You are equally vested with the exclusive responsibility of securing all the requisite building plan approvals from the appropriate constituted authority before embarking on substantial development on the land;
Payment/debit
Once you subscribe to the website, you will be required to choose your mode of payment, either through card, transfer, or online transfer. You are expected to make a payment as at when due; you also have the option to pay multiple months ahead. Where you opt for manual payment, it is your responsibility to ensure that you do not fall into default to avoid incurring default charges.
Termination by Death
1. In the event of the death of a Subscriber, the next of kin shall notify the Company with the death certificate issued by a credible and certified hospital, as well as the grant of Probate or Letters of Administration in favour of the next of kin or other beneficiaries.
2. The beneficiaries of the estate of a deceased Subscriber shall have the following options:
- a. Effect a change of ownership, at no extra cost, and continue the payment for the Land till completion; or
- b. Where payment for the apartment has already been completed by the deceased Purchaser, effect a change of ownership, at no extra cost.
3. Subscribers are advised to secure insurance coverage for their subscription in case of death, to ensure that the beneficiaries can take benefit of the investment.
4. Notwithstanding the foregoing in sub-clause 1&2 above, the subscriber shall have the right to submit a written declaration supported by an affidavit deposed to at the High Court of any State only to Greenland, setting out the details of a beneficiary to the property in the event of death, and Greenland shall effect a change of title in the name of the beneficiary upon presentation of a Counterpart copy of the declaration, affidavit and a valid death certificate by the beneficiary upon the death of the subscriber.
5. The performance of the provision in sub-clause 4 by Greenland is subject to the full payment of the full purchase price; and where there remains any outstanding sum to be paid under the Silver or Bronze subscription, the beneficiary shall immediately undertake to bear the exceptional liabilities before Greenland can exercise the provisions in sub-clause 4.
Change of Ownership
Change of ownership is permitted in the following situations:
1. Where you are no longer able or interested in continuing with the payment of your subscription, you are at liberty to source for a new subscriber to take over the payment till completion;
2. Where you have completed your payment and taken possession and you subsequently wish to sell the apartment to a new subscriber;
3. In any of the situations listed in (1) and (2) in this section above, the new Purchaser shall pay a 10% change of ownership fee of the total consideration for the property, and continue the monthly instalment till completion, and default fee if the former owner has an accumulated default;
Request for Corner Piece
You can ONLY request a Corner Piece Apartment Allocation where you have attained 100% payment of your subscription. You shall be charged the prevailing price for the corner piece or such other sum as may be communicated from time to time.
Estate Management
You agree that to pay an Annual Management fee/Service Charge for the provision of the following services, which include waste disposal, security, horticulture/gardening of the common areas, administrative fees, and such other services as may be communicated from time to time. Such a charge is location-based and would be communicated after the allocation of a plot or apartment. We reserve the sole right to administer the Estate.
Service Charges
Service charges for the following will apply upon the allocation of your plot:
1. Security;
2. Clearing and maintenance of common areas;
3. Waste management;
4. Estate administration;
5. Provision and maintenance of infrastructures made available in the estate;
Non-Disparagement
Except as it may be required by law or legal process, you agree not to disparage Greenland Estate or any of its officers, directors, shareholders, investors, potential investors, partners, predecessors, affiliates, subsidiaries, employees, consultants, attorneys, products, brands, or any others associated with the Company, by any means including but not limited to:
- 1. postings to blogs, social media, industry websites, employer review websites (for example, Glassdoor, Linkedin, or Indeed), consumer review websites (for example, Google Reviews or Yelp); or
- 2. communications with accountants, investment bankers, commercial bankers, insurance brokers or carriers, media, journalists, reporters, equity analysts, investors, potential investors, customers, suppliers, competitors, joint venture partners, and regulators (including but not limited to the Securities and Exchange Commission).
For purposes of this Terms and Conditions, “disparage” shall mean any negative statement, whether written or oral, about Greenland Estate, and its parent company, associated companies any other associated products and trademarks.
Nothing contained in this Agreement is intended to or shall limit your ability to:
- 1. respond to a lawful subpoena;
- 2. to comply with any other legal obligation.
You hereby agree unequivocally that if a breach were to occur, it would be difficult to determine actual damages. Based on what is presently known, You and Greenland agree that ₦22,500,000.00 (Twenty-Two Million Five Hundred Thousand Naira Only), is a reasonable estimate of the damages that would accrue if a breach occurred in the future. This amount of liquidated damages is fair and reasonable and would not act as a penalty to the breaching party.
You also agree that this non-disparagement provision is a material term of these Terms and Conditions, and also agree that even after the completion of the obligations herein, it will survive and subsist.
Severability
If any provision of these terms and conditions is determined by any court of competent jurisdiction to be invalid, illegal, or unenforceable, that provision will be severed from these terms and conditions and the remaining provisions will continue in full force and effect, so long as the economic or legal substances of the transactions contemplated hereby are not affected in any manner materially adverse to either of the parties.
Amendment
These terms cannot be modified, varied, amended, or supplemented in any way by you. We reserve the right to modify, vary, amend, or supplement these Terms and Conditions at periodic intervals. We will post the current version of these terms on this platform or send the same to you via your email address and each such change will be effective and binding upon posting on this platform or upon the date designated by us as the “effective date” (if any). Your continued use of the Services immediately after any such change constitutes your agreement to be bound by and your acceptance of these terms and conditions as so modified.
No Waiver
Any waiver by us of any of the provisions of these terms will not constitute a waiver of any other provision (whether similar or not), nor will any such waiver constitute a continuing waiver of that particular provision, unless expressly provided by us in writing.
Force Majure
Events or Circumstances beyond the control of the parties that may prevent either of the parties from fulfilling any part of their contractual obligations shall not amount to a breach of contract. Events or Circumstances in this regard include but are not limited to War, Natural disaster, Government Declaration, Curfew, Pandemic, Epidemic, and or Hyperinflation. However, where any of these events occur, parties can mutually vary the terms of this agreement for purposes of maintaining the original intention of the parties in the agreement as opposed to the abandonment of same.
Governing Law
The Contract between us shall be governed by and interpreted per the Laws of the Federal Republic of Nigeria.
Talk to us
If you have trouble using our platform with specific browsers or other software or you want to let us know how we can improve accessibility or if you have any questions or comments, please let us know by getting in touch with us via our email at info@Greenlandproperties.com. We appreciate your feedback as your suggestions can help us improve our service.
Having read the terms and conditions and satisfied with same, you as a result of this, you hereby click the button on the web to affirm interest and bind you legally to this contract.
