1724
THE HONGKONG GOVERNMENT GAZETTE, 24TH NOVEMBER, 1905.
8. The Purchaser of each Lot shall pay into the Colonial Treasury a proportionate part of the annual rental specified in the particulars herein before contained on the 25th day of December next, and thereafter shall pay such annual rental by equal half-yearly payments on the 24th day of June and the 25th day of December in each and every year during the term of 75 years hereinbefore
mentioned.
9. When the conditions herein contained have been complied with to the satisfaction of the Director of Public Works, the Purchaser of each Lot shall be entitled to and shall execute, on demand, a Lease from the Crown, of the Piece of Ground comprised in such Lot for 75 years, to be computed from the day of sale at such Annual Rental payable half-yearly on the 25th day of December and the 24th day of June, in every year, as is specified in the Particulars of such Lot herein- before contained; and such Crown Lease shall be subject to, and contain, all Exceptious, Reservations, Covenants, Clauses and Conditions inserted in the Crown Leases of Inland Lots in the Colony of Hongkong. The Lease shall also contain a proviso that the lessee is to have the option of renewing the Lease for one further term of 75 years at a Crown Reut to be fixed by the Surveyor of His Majesty the KING.
10. Should the Purchaser neglect, or fail to comply with these Conditions, his Premium,. or any portion thereof which may be paid, shall be thereupon forfeited to His Majesty, who shall be at full liberty either to enforce the sale, or to re-sell the Property at such time and place, and in such manner as to His Majesty shall seem fit, and in case of a re-sale the increase, if any, of the Premium or Purchase Money shall be retained by His Majesty, and the deficiency, if any, and all Costs and expenses shall be made good by the defaulter and be recoverable as liquidated damages, or at the option, and pleasure of His Majesty to re-enter and resume the property as if no sale had ever taken place, in which case also the premium paid by the Purchaser shall be thereupon wholly forfeited to His Majesty. But such re-entry shall not exonerate the present Purchaser upon a subsequent re-sale of the property to make good the deficiency, if any, upon such re-sale, and all costs and expenses as ascertained to be recoverable as aforesaid.
11. l'ossession of each Lot sold shall be given to the Purchaser, and deemed to have been taken by him, on the day of sale.
12. In the event of the Purchaser assigning the benefit of the underwritten agreement, the assignee shall be bound by the foregoing conditions of sale, and all powers and remedies shall be enforceable against him to the same extent as if such assignee were the original Purchaser.
Director of Public Works.
MEMORANDUM OF AGREEMENT BY THE PURCHASERS.
Memorandum that
of
the persons whose names are hereunder written have been declared the highest bidders for the Lots described in the foregoing Particulars of Sale and hereunder specified opposite to their said names and signatures, and do hereby agree to become the Lessees thereof, under and subject to the foregoing Conditions of Sale, and on their part to perform and abide by the said Conditions.
Number of Sale.
Registry Number,
Amount of Aunual Rental. Premium at which
Purchased.
Inland Lot No. 1747.
$ 8.
Do.
1748.
54.
Do.
1749.
42.
Do.
1750.
42.
Do.
1751.
40.
Do.
1752.
Do.
1753.
Do.
1764.
Witness to Signaturs of Purchasers.
Witness to Signature of Director of Public Works.
Signature of Purchaser.
Director of Public Works.