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rent at the rate of $600 per sore for the area tinted red.
A lease to be granted for the area referred to in (xi) for a ters of 75 years, renewable for a similar tarn on the usual conditions. The lease to conmance from the date of a sietter aigned by the Director of Public Worus signify- wing that the area is at the disposal of Messrs. Blackhead and Company.
The whole of the areas referred to in (ii) and (vi) to be reclaimed to such levels as the Director of Public Works may approve and to be protected by a substantial sea wall along the East side and by a pitched slope or otherwise as the Director of Public Works may approve along the North side. The work to be completed within two years from the fate of the letter referred to :in (vit).
A sum of not less than $40,000 to be expended upon rateable improvements within 4 years from the date of the letter referred to in (vii).
The prezia referred to in (iv) and (vi) to be paid into the Treasury within one week from the date of the letter referred to in (vii) and Crown rent to commence from that date. The presia and Crown rent to be calculated on the basis of the areas shown on the plan refer- -red to in (vi), but to be subject to re- -adjustment when the reclamation and surrender to Government have been completed and to be in accordance with the actual area occupied.
Messrs. Blackhead and Company to have the right to re-erect the pier at present in front of Kowloon Marine Lot 34 free of premium on condition that the area of the re-erected pier is not to exceed that of the existing pier and that the position and dimensions of it are to be approved by the Director of Public Mores. The pier to be subject to the provisions of the Piers Ordinances of 1899 and 1900 and a lease of it for a term expiring on the 31st. December, 1949, in the form deposited with the Land Office, to be granted and a counterpart of such lease to be executed by the lessees.
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