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THE HONGKONG GOVERNMENT GAZETTE, MARCH 22, 1907.
9. When the conditions herein contained have been complied with to the satisfaction of the Director of Public Works, the Purchaser of the Lot shall be entitled to and shall excute 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 24th day of June and the 25th day of December, in every year as is specified in the Particulars of such Lot hereinbefore contained; and such Crown Lease shall be subject to, and contain, all Exceptions, 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 Rent 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. Possession of the 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 and following 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.
SPECIAL CONDITIONS.
1. A right-of-way, on lines approved by the Director of Public Works, to be given from the Public Road to the Lot.
2. The Purchaser to construct such retaining walls as may be required to prevent landslips in the event of his cutting away the hill to level the Lot."
3. The exact boundaries of the Lot to be determined by the Director of Public Works before the issue of the Crown Lease and Premium and Crown Rent to be then adjusted in in accordance with the rates at which the Lot was sold.
Director of Public Works,