TIB DEVELOPMENT BANK
KILIFLORA LIMITED (UNDER RECEIVERSHIP)
NOTICE OF SALE AND INVITATION OF SEALED BIDS FOR SALE OF
MORTGAGED PROPERTIES
1. The four Properties were originally two farms No. 67 Usa River Area Arumeru District and No. 110 Nduruma Area Arumeru District. Farm No. 67 is located along Arusha Moshi road at Usa area while Farm No. 110 is located at Nduruma Area along East Africa Road within Arusha City. Each of the two farms was subsequently subdivided into two farms each, making the total of four farms as tabulated here in above.
| LOT NO | REGISTRATION DETAILS | SIZE |
| 1 | FARM NO. 67/2 (MAIN TITLE) USA RIVER AREA, ARUMERU DISTRICT, ARUSHA REGION, CT NO. NP 326. L.O. 214 IN THE NAME OF KILIFLORA LIMITED OF P.O. BOX 988 ARUSHA | 179 ACRES |
| 2 | FARM NO. 67/2 (SUBTITLE) USA RIVER AREA, ARUMERU DISTRICT, ARUSHA REGION, CT NO. 49379. L.O. 214 IN THE NAME OF KILIFLORA LIMITED OF P.O. BOX 988 ARUSHA | 30A CRES |
| 3 | ARM NO. 110 NDURUMA AREA, ARUMERU DISTRICT, ARUSHA REGION. CT NO. 8832. L.O. 132050. IN THE NAME OF KILIFLORA LIMITED OF P.O. BOX 988 ARUSHA | 73.2 ACRES |
| 4 | FARM NO. 110/1 NDURUMA AREA, ARUMERU DISTRICT, ARUSHA REGION. CT NO. 49380. L.O. 132050. IN THE NAME OF KILIFLORA LIMITED OF P.O. BOX 988 ARUSHA | 20.6 ACRES |
2. The Company borrowed from the Government of the United Republic of Tanzania through TIB Development bank as an agent for management of the facility.
3. The Company has since defaulted in its obligation to repay the loans it owes when they fell due and the Bank, on behalf of the Government and on its own right, has placed the Company under receivership.
4. As a recovery measure and acting under powers provided for in the debenture Deed and the law, the Bank, through me, now desires to sale the entire Properties ·and ” apply the proceeds of the intended sale to liquidate the Company’s exposure to the Government and the Bank.
5. INTERESTED BIDDERS ARE INVITED to submit bids for the purchase of all or any of the named properties.
6. Bids in sealed envelopes clearly marked BID FOR THE PURCHASE OF KILIFLORA PROPERTIES and indicating the respective lot, including the offer for the purchase of the property with full address of the bidder should be submitted so as to reach the undersigned on the address below by Friday, 16th August 2019 at or before 10:00 Hours. Bids shall be opened on the said 16th August 2019 at 10:30 hours at the office mentioned below. Bidders are invited to attend during the event if they so wish.
7. Interested bidders can inspect the Properties on working days from the date of this publication from 9:00 am to 3:00 pm. Kindly contact the Receiver and Manager to book visitation through the below mentioned mobile telephone number.
8. The successful bidder or otherwise shall be announced within a maximum of seven working days.
9. Bidders are required to submit their physical address, email address and phone number. A communication sent to bidders either to the physical address or the email submitted shall be sufficient communication.
10. The successful bidder shall be required to pay 10% of the price within seven days from the date of written notification and the balance of 90% shall be payable within 30 days from the date of payment of the first installment or as may be agreed at the absolute discretion of the Receiver and Manager. Failure to pay the agreed price within the prescribed time or within such other time as the Receiver and Manager may prescribe; the offer shall be revoked forthwith. In such event of revocation, the Receiver and Manager shall forfeit any down payment and any other payment (if
any) which shall have already been made.
11. In the event the successful bidder fails to effect payments as prescribed, the Receiver and Manager reserve the right to offer the Properties to the next highest or preferred bidder who meets the conditions, or cancel the sale process altogether.
12. The Receiver and Manager and the Bank shall not be bound to accept the highest bid or any bid at all.
13. Bidders are advised to conduct their independent valuation and inspection of the properties as all the information contained in this advertisement is free from liability.
14. All bids should be addressed to the address below;
Frank Mwalongo
Apex Attorneys Advocates
Scouts Building, 1st Floor, Wing A,
Malik Road, Upanga
P. O. Box 34674, Dar-es-Salaam
OFFICE TEL: + 2S5 22 21 52803, Mob: 07S6 625 802
[email protected]/[email protected]
