<p><strong>IBRAHIM MOHAMMED MUSA SAULAWA, J.C.A. (Delivering the Leading Judgment):</strong> The instant appeal is against the judgment of the High Court of Lagos State, Lagos Judicial Division, delivered on February 13, 2006 in Suit No. LD/M91/06. By the said decision, the lower court, Coram H. A. O. Abiru, J; (as the learned trial judge then was) made an order nisi in favour of the Respondent, thereby enforcing foreclosure of the Mortgaged property, laying and situate at Plot 57A, Block A Parkview Extension, Ikoyi, Eti-Osa Area of Lagos State, otherwise known as No. 1 Alade Odunewu Street, off Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos. </p><p> BACKGROUND FACTS: </p><p> In the year 2002, the Respondent granted to the Appellants an import finance facility to the tune of $1Million (USD). The finance facility was secured by the Appellants&#x27; depositing the original certificate of occupancy regarding Plot 57A, Block A Parkview Extension, Ikoyi Eti-Osa Area of Lagos State, otherwise known as No. 1 Alade Odunewu S…</p>