THIS AGREEMENT made the 26TH day of
AUG. One thousand
nine hundred and eihty-eight between LAU YAM HEI (
of No.78 Pak Shek Wo, Clear Water Bay Road, Sai Kung, New
Territories, Hong Kong ("the Vendor") of the one part and
COMMANDARY INVESTMENT LIMITED (優秀投资有限公司)
whose registered office is situate at Room 502-6, Wing On
Life Building, 22 Des Voeux Road Central, Hong Kong ("the
Purchaser") of the other part.
WHEREAS
(1)
(2)
The Vendor is the sole surviving administrator of the
estate of LAU KOON YEUNG, deceased.
The said deceased was the registered owner of All That
piece or parcel of ground registered in the District
Land Office Sai Kung as Lot No.1487B in Demarcation
District No.221 ("the said Lot").
(3)
The said Lot has after the death of the said deceased been
resumed by the Government. No compensation has been paid
(4)
to the Vendor or the estate of the said deceased.
The Purchaser is desirous of purchase the entitlement
of compensation from the Vendor in manner hereinafter
appearing.
NOW IT IS AGREED as follows
The Vendor shall authorise the Purchaser to apply to the
Government for compensation in the form of either :-
(a)
another piece of land, or
(b) Letter B entitlement.
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