Dear Sir/Ma,

LOAN OFFER, SCHEDULE OF PAYMENT AND AGREEMENT

We are pleased to inform you that your lease application with {{$company_name}} has been approved. Following an assessment of your request, we are pleased to offer you the loan under the following terms:

LEASE OFFER DETAILS

@if ($car_tracking == 'YES') @endif

Loan Amount	₦{{number_format($amount)}}
Interest Rate	{{$interest_rate}}% Per Month
Loan Tenure	{{$duration}} Months
Repayment Type	Monthly (Principal, Interest and Fees)
Management Fee	₦{{number_format($management_fee)}}
Equity Contribution	₦{{number_format($equity_contribution)}}
Monthly Repayment	See Repayment Schedule
Insurance	₦{{number_format($comprehensive_insurance_amount)}}
Tracking Fee	₦{{number_format($car_tracking_amount)}}
Total Upfront Payment	₦{{number_format($upfront_payment)}}

REPAYMENT SCHEDULE

@foreach ($repayment_schedule as $item) @endforeach

Repayment Date	Total Due	Principal	Interest
{{$item["repayment_date"]}}	₦{{number_format($item["total_due"],2)}}	₦{{number_format($item["principal"],2)}}	₦{{number_format($item["interest"],2)}}

LEASE AGREEMENT

This Lease-to-Own Agreementt (the "Agreement") is made on the {{$agreement_date}} by and between:

1. {{$company_name}} (herein after referred to as the "Lender"), whose registered address is 2, Olugbesan Close, Allen Avenue, Ikeja, Lagos and
2. {{$customer_name}}, (herein after referred to as the "Borrower"), whose registered address is {{$address}}, {{$city}}, {{$state}}.

RECITALS:

WHEREAS the Owner is engaged in the business of leasing and desires to lease the item described herein to the Hirer; WHEREAS the Hirer desires to hire the said vehicle with an option to purchase same upon completion of all payment obligations; NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

Item Description

@foreach ($item_details as $item)
• {{$item["title"]}}:{{$item["value"]}}
@endforeach

Hire Purchase Terms

• Сash Price: The cash price of the item is ₦{{number_format($amount)}} ({{$amount_in_words}})
• Initial Payment: Hirer shall pay an initial deposit of ₦{{number_format($equity_contribution,2)}} ({{$equity_contribution_in_words}}) Naira representing {{$equity_contribution_percent}}% of the cash price.
• Balance Outstanding: The balance of ₦{{number_format($finance_amount,2)}} ({{$finance_amount_in_words}}) including the additional interest charge shall be paid in {{$duration}} monthly installments of {{number_format($repayment,2)}} each.

Payment Terms

• Payment Method: All payments shall be made via bank transfer to the account details provided below:
  • Bank Name: Providus Bank
  • Account Name: {{$account_name}}
  • Account Number: {{$account_number}}
  Alternatively, payments may be made to any other account officially communicated in writing by the lender.
• Late Payment:If any instalment is not paid within 3 days of the due date, the Hirer shall pay a late fee of 10% of the overdue amount per month.
• Default: If the Hirer defaults in payment for 15 days, the Owner may terminate this agreement and repossess the item, sell the item to offset the loan amount without any court order or the hirer consent.

OWNERSHIP AND POSSESSION

• Conditional Ownership: The vehicle remains the property of the Owner until all payments are completed. The Hirer has the right to possession and use of the vehicle subject to the terms herein.
• Transfer of Ownership:Upon payment of all sums due under this agreement, ownership of the vehicle shall automatically transfer to the Hirer, and the Owner shall execute all necessary documents to effect such transfer.
• Registration Documents: The Owner shall retain the original receipt and registration documents until full payment is completed.

HIRER'S OBLIGATIONS

• Maintenance and Repairs
  The Hirer shall:
  • Maintain the item in good working condition
  • Bear all costs of repairs, servicing, and maintenance
  • Use only genuine spare parts
  • Conduct regular servicing as recommended by the manufacturer
• Insurance: The Hirer shall maintain comprehensive insurance coverage for the vehicle at all times, naming the Owner as the first beneficiary until full payment is completed.
• Usage Restrictions
  The Hirer shall:
  • Use the item for lawful purposes only
  • Not use the item for commercial purposes without written consent
  • Not modify the item without written consent and approval of the owner
• Care and Custody: The Hirer shall exercise reasonable care in the custody and use of the vehicle and shall not permit its use by unauthorized persons.

PROНІВІТED ACTS

The Hirer shall not:

• Sell, pledge, mortgage, or otherwise dispose of the item.
• Remove the vehicle from Nigeria without written consent
• Allow the vehicle to be seized for debt
• Misrepresent ownership of the vehicle to third parties

INSURANCE AND LIABILITY

• Insurance Requirements
  The Hirer shall maintain comprehensive motor insurance with minimum coverage of ₦{{number_format($amount)}} and shall provide proof of insurance to the Owner annually.
• Liability: The Hirer assumes full liability for any damage to property or injury to persons arising from the use of the item.

DEFAULT AND REMEDIES

• Events of Default
  Default occurs when the Hirer:
  • Fails to make payment for 15 days after due date
  • Breaches any material term of this agreement
  • Becomes insolvent or bankrupt
  • Attempts to dispose of the item unlawfully
• Owner's Remedies
  Default occurs when the Hirer:
  • Terminate this agreement immediately
  • Repossess the vehicle without court order
  • Claim all outstanding amounts
  • Sell the item and apply proceeds to the debt
  • Pursue legal action for damages
• Peaceful Repossession
  The Owner may repossess the item without breach of peace, and the Hirer waives any claim for trespass or conversion in such circumstances.

EARLY TERMINATION

• Voluntary Termination
  The Hirer may terminate this agreement early by paying all outstanding amounts plus early termination charges of 5% of the principal balance.
• Total Loss
  If the vehicle is totally lost or destroyed, this agreement terminates, and insurance proceeds shall be applied to outstanding amounts.

WARRANTIES AND REPRESENTATIONS

• Owner's Warranties
  The Owner warrants that:
  • It has good title to the vehicle/item
  • The item is free from liens and encumbrances
  • All information about the item is accurate
• Hirer's Representations
  The Hirer represents that:
  • All information provided is true and accurate
  • They have the legal capacity to enter this agreement
  • They will comply with all terms herein

DISPUTE RESOLUTION

• Negotiation
  The parties shall first attempt to resolve disputes through good faith negotiation.
• Arbitration
  If negotiation fails, disputes shall be resolved through arbitration under the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria 2004.
• Jurisdiction
  This agreement shall be governed by Nigerian law, and the courts of Lagos shall have jurisdiction over any legal proceedings.

General Provisions

• Entire Agreement
  This agreement constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements.
• Amendment
  This agreement may only be amended in writing signed by both parties.
• Severability
  If any provision is held invalid, the remainder of the agreement shall remain in full force and effect.
• Notice
  All notices shall be in writing and delivered to the addresses specified herein.
• Assignment
  The Owner may assign this agreement, but the Hirer may not assign without written consent.