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that, on the surrender of the present lease
the
Farm Lot No 1, Building leases would be issued for 10 lots shown tinted red on attached plan No. 2, having a contained area of 3.23 acres admitting of the erection of 155 Chinese tenements of the usual type.
The term of the lease to be 75 years.
Crown rent to be charged at the rate of $100 per acre, and the lessee was to spend a sum of $20,000 on ratable improvements within 5 years.
10. In July, 1895, situated in a less favourable locality and not accessible by a carriage road, surrendered his 999 years farm lease, copy enclosed, and took out a building lease for the portion tinted red, see tracing attached, and also a renewal of the Farm lot lease for the remainder less the portions required for roads tinted yellow.
The terms of the building lease were
(A) That it should be for a period of 75 years.
(B) That annual Crown rent should be paid at the rate of $100.
(C) That a sum of $1,500 should be expended on ratable improvements in 18 months.
11. The following recent sales of building lots in the village of Yuen Ma Tsai, tinted blue on plan, will give a fair idea of the value of building lots in this locality. Term of lease 75 years.
Lot...