2.
Such authorisation shall be valid up to 1st September 1990.
3.
All costs and expenses arising or in connection with
4.
5.
6.
7.
the said application shall be borne by the Purchaser
solely.
The Vendor shall not sell or mortgage the said Lot to
others prior to 1st September 1990.
In the event that the application for compensation is
successful and
(a)
(b)
if the compensation is the granting of another piece
of land, the Vendor shall sell and the Purchaser
shall purchase such land at the price of
HK$870,000.00; or
if the compensation is the granting of Letter B
entitlement, the Vendor shall sell and the
Purchaser
shall purchase such Letter B entitlement at the
price of HK$4,350,000.00.
Completion of the above purchase shall take place within
7 days from the date of the notice of the said compensation
being issued by the Government.
If the event that the compensation is in any from other
than the forms mentioned in Clause 1 hereof, all such
compensation shall be paid over to the Vendor forthwith.
And the Purchaser shall not be entitled to any interest
right or claim therein.
The Purchaser shall promptly supply the Vendor (through
his solicitor Messrs. Gary Mak & Co) with all correspondence
and documents relating to the said application.
2
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