This is the Exhibit Marked "A-1" as referred to under Paragraph 3 in the Petition herein
New Grant No. 4180
Particulars and Conditions of Sale by Tender under Hong Kong Government Gazette Notice No. 2944 dated
2491
20 TEC
1963 of one lot of
Crown Land at Tsing Yi, New Territories in the Colony of Hong Kong for the residue of a term of 99 years less three days commencing from the 1st day of July, 1898.
PARTICULARS OF THE LOT
D.D. No.
Lot No.
Location
Area in
Site
sq. ft.
Annual rental
$
436
6 08
North Coast, Tsing Yi Island, New Territories
As delineated and coloured red, red hatched black and blue on the plan attached hereto
17,640
202
(about)
1.
GENERAL CONDITIONS
Subject to the payment of the balance of the premium or the first annual instalment thereof as the case may be as provided in this Agreement, possession of the lot shall be deemed to have been given to the purchaser on the 7th day of February, 1964.
2. Crown rent for the lot shall commence from the 7th day of February, 1964, shall be as specified in the Particulars of the lot subject to adjustment under General Condition 7(a) and shall be payable by equal yearly payments on the 30th day of June each year, the first year's rent or a due proportion thereof being payable on the 30th day of June next following the date of this Agreement.
3. In the event of the purchaser having elected to pay 90% of the premium by annual instalments he shall be entitled at any time to redeem the whole of the outstanding instalments by paying to Government a lump sum representing the then present value of the outstanding instal- ments discounted at the rate of 5% per annum.
4. If the purchaser shall fail to pay the balance of the premium as provided in the attached Memorandum of Agreement, or if, having elected to pay 90% of the premium by annual instal- ments, he shall fail to pay the first annual instalment as provided in the attached Memorandum of Agreement, Her Majesty may either enforce or cancel the sale. On cancellation the sum forwarded by the defaulting purchaser with his tender as a deposit and in part payment of the premium tendered by him shall be wholly forfeited to Her Majesty, and Her Majesty shall be at liberty to resell the lot at such time and place and in such manner as Her Majesty shall deem fit, and all expenses attending a resale or attempted resale and any deficiency which may result on a resale shall be made good and paid by the defaulting purchaser and be recoverable by Her Majesty as liquidated damages. Any increase of price on a resale shall belong to Her Majesty.
5. The purchaser shall apply to the District Commissioner, New Territories_for_the_lot_to be set out on the ground and shall not commence any operations for building thereon until it shall have been so set out. If the purchaser erects any building otherwise than in due accord with such setting out he shall, when called upon by the District Commissioner, New Territories so to do, demolish such building and shall rebuild as directed by him. If the purchaser fails to demolish any building as aforesaid it shall be lawful for the District Commissioner, New Territories to have such building demolished and the purchaser shall pay on demand the amount certified by the said District Commissioner to be the cost of such demolition.