2
(b)
(c)
{૨}
(e)
Territories as you may ish, subject, of course, to
suitable land being available in the particular area
chosen by you, and the grant being subject to such
conditions as I may consider necessary;
If the building land crented to you lies within a layout
aron, the are of the land to be granted would be calculated
t th in of 2 sq.ft. of building land for every 5 sq.ft.
of agricultural land surrendered and 1 sa.ft. of building
land for every 1 sq.ft.of building land surrendered; if
the regranted land is not within a layout area, the ratio
would be at my discretion but would not be less favourable
than for land in layout area. Agricultural land would
not normally be available for regrant in a layout area.
Outside a layout area the area of agricultural land to be
regranted would be calculated at a rate no less favourable,
than 1 sq.ft. of agricultural land for every 1 sq.ft. of
agricultural land surrendered:
Crowm rent would be payable on the new lot at appropriate
rate therefor, which will be determined at the time when
the offer of the grant of the new lot is made;
A buildim covenant would be imposed on the new lot cal-
lated according to the use to which the lot is restricted.
One assignment of the hole (but not a part) of the new
lot would be permitted before the building covenant has
boen fulfilled and the other general and special conditions
of exchange have been complied with;
The premium payable by you in respect of the grant of this
lot would be the market value of the land to be granted
less the rate of 10 per sq.ft. (the $10 figure is made
up of the market value of the land assessed under the
Crown