31-JAN-1992 18:15
BRITISH TRADE COMM
12
P.08
Alienation
Resumption
*refers to the lease term of the grant
arising out of or incidental to the exercise by him or them of the right of ingress, egress and regress conferred under this Special Condition, and no claim shall be made against him or them by the Purchaser in respect of any such loss, damage, nuisance or disturbance.
(13) Unless the prior written approval of the Director is obtain the Grantee shall not assign, mortgage, charge, demise, underlet, part with the possession of or otherwise dispose of or encumber the lot or any part thereof or any building or part of any building thereon or enter into any agreement so to do, except in so far as the provision of accommodation for and permitting the British Council to occupy the same for its official activities shall not constitute a breach of this Special Condition.
(14) The Government shall have full power to resuine, re-enter upon and re-take possession of all or any part of the lot if required for the improvement of Hong Kong or for any other public purpose whatsoever (as to which the decision of the Governor shall be conclusive), twelve calendar months' notice being given to the Grantee of its being so required, and upon the exercise of this power the Grantee's Lenancy of the land so resumed shall cease, determine and be void, and the Grantee shall on the expiration of the said notice quit and deliver up possession of the land so resumed and the buildings thereon. Upon the exercise of the power there shall be paid by the Government to the Grantee the following compensation only :-
(a)
(b)
in respect of the land resumed one * of such amunt as in the opinion of the Director has been reasonably expended by the Grantee on site formation of the said land, multiplied by the number of complete years in the portion of the said term unexpired at the date of resumption;
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in respect of any building or buildings or parts of any building or buildings lawfully erected on the land resumed such sum as the Director shall, at his sole discretion, certify to be the depreciated current replacement cost or costs of the building or buildings or parts thereof as at the date of resumption; it being fully agreed and understood that separate sums shall be certified in respect of any separate addition or improvement to the building or buildings or parts thereof : Provided always