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Invitation of Sealed Bids for Purchase of Mortgaged Farm Registered Under Title Deed No. 7750 MBYLR, Land Office No. 15686, Farm No. No. 603,

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IRINGA DISTRICT

NOTICE OF SALE AND INVITATION OF SEALED BIDS FOR PURCHASE OF MORTGAGED FARM REGISTERED UNDER TITLE DEED NO. 7750 MBYLR, LAND OFFICE NO. 15686, FARM NO. NO. 603,

LOCATED AT NZIHI VILLAGE, IRINGA DISTRICT, IRINGA REGION.

NOTICE IS HEREBY GIVEN THAT, under the powers contained in the Mortgage Deed registered on 19th July, 2001 made by DIMITRIOS F OKAS, PARASKEV FOKAS and JOAKIM FOKAS of P. O. Box 194, Iringa (hereinafter referred to as the “Mortgagors”) in favour of CRDB BANK PLC (hereinafter referred to as the “Bank”) and every other powers enabling the Bank to do so, I, SENI SONGWE MALIMI of K & M (Advocates), (hereinafter referred to as the “Recovery Agent”) duly appointed by the Bank hereby advertise for sale of the said Farm described herein below owned by the said Mortgagors and charged in favour of the Bank.

The Mortgagors borrowed from the Bank and they have defaulted in their obligation to repay the loans they owe when they fell due and the Bank has decided to realize the mortgage as provided under the said Mortgage Deed and relevant laws on enforcement of mortgages in Tanzania.

As a recovery measure and acting under powers provided for in the said Mortgage Deed and the relevant laws, the Bank, through me now desires to sell the entire Farm and its development thereon and apply the proceeds of the intended sale to liquidate the Mortgagors’ loan liability to the Bank.

The mortgaged Farm is registered under Title Deed No. 7750 MBYLR, Land Office No. 15686, Farm No. 603, Nzihi Village, Iringa District, Iringa Region, Its tenure is 54 years from 1st July, 1997.. The Farm has total Area of 1052 acres, consisting of farming fields and farm buildings which includes a farm manager’s house, servants quarters, a fertilizer store, a farming machines store, a fuel store, a toilet block, tobacco barn blocks, tobacco godowns and four staff houses.

Brief Information Memorandum providing details of the Farm and its developments being offered for sale will be provided to prospective bidders, upon request, with effect from 12th November, 2019.

Interested bidders are invited to submit bids for the purchase of the said Farm with all its developments; Bids in sealed envelopes clearly marked BID FOR THE PURCHASE OF FARM NO. 603, NZIHI VILLAGE, IRINGA DISTRICT, ” IRINGA REGION indicating the offer for the purchase of the Farm with full address below by Friday, 3rd December, 2019 at or before 3:00 pm. Bids shall be opened on the said 3rd December, 2019 at 3:30 pm. at the office mentioned below. Bidders are invited to attend during the event if they so wish.

The successful bidder or otherwise will be informed within five days from the date of Opening of the bids.

Interested bidders can inspect the Farm on working days from the date of this publication from 9:00 am to 4:00 pm. Kindly contact the Recovery Agent to book for visitation through the below mentioned mobile telephone number or email address.

Bidders are required to submit their physical address, email address and telephone number. Communication sent to bidders either to the physical address or the email submitted shall be sufficient communication.

In the event the successful bidder fails to effect payments as prescribed, the Recovery Agent reserves the right to offer the Farm to the next highest or preferred bidder who meets the conditions, or cancel the sale process altogether.

The Recovery Agent shall not be bound to accept the highest bid or any bid at all.

Bidders are advised to conduct their independent valuation and inspection of the Farm as all the information contained in this advertisement is free from liability.

All bids and or clarifications should be addressed to the address below:

SENI SONGWE MALIMI, TAC ASSOCIATES BUILDING,
3RD FLOOR, PLOT NO. 114, MALIK ROAD/KITONGA STREET, UPANGA AREA,
P. 0. BOX 71394, DAR ES SALAAM, TANZANIA.
TELEPHONE NOS.: +255 22 2133616 / +255 22 2133619 FAX NO.: +255 22 2133615
MOBILE N0,: +255 754 224 93

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